Reader's Corner: Life Insurance

As per the IRDAI regulations, each and every insurance company has to declare their investment return to their policyholders each year

A term life insurance is a straightforward product. The nominee of the insured receives the money on death. Then, why do rates of term life plans vary by such a wide margin? Are there any benefits that one insurance policy provides over the other? If I have to choose a term plan, wouldn’t it makes sense going for the cheapest one?

There are various term life insurance plans available in the market. The premium pricing for each policy depends on several factors like the product offerings, features, claim settlement ratio and claim experience of the insurance company. Thus the premium varies