Life Insurance in its Modern form came to India from England in the year 1818.

(1) Oriental Life Insurance Company was the first Life Insurance Company started by Europeans in Calcutta in India in the year 1818. This company was brought up to serve the needs of European community only not of Indians.
(2) Bombay Mutual Life Assurance Society was the first Indian Life Insurance Company in India that started its business in the year 1870.
(3) In 1912, The Indian Life Insurance Companies Act was the first statutory measure to regulate life Insurance business.

A new ad line KILB (Kum Insurance Lenaki Bimari) by a new Insurance company made me write my views on the subject.

How much Life Insurance does one need?

This question has no direct answers as no basic formula exist.Its also not to do with how much you earn?
It has nothing to do with your retirement planning ?

Many of us like to believe that we have a robust financial portfolio that would take care of our future. Interestingly, the plan would work only if funding the plan is regular. What happens if the funding suddenly stops?

Insurance companies are trying new ways to sell Insurance. One of these intiatives is now selling Insurance policies in Trains. Max New york Life has done atipe with Indian Railways and will be selling Insurance to people travelling in Radhani Express.

This is the first of its kind intiative done by Insurance company.Max New York Life Insurance has tied up with Railways for manning these three trains with 24 of their officials who will pitch for Max New York Life Insurance (MNYL) policies.

Incidentally, MNYL has also adopted these three Rajdhanis whose exteriors will feature a large fast-moving billboard of the private insurer. The train interiors will also be used to grab passenger mindshare.

Life Insurance is perhaps the most important of all Insurance covers that an individual needs to have. In its basic form a Life Insurance plan covers the dependants or the beneficiaries (of the policy) for any possible risk to the policy owners life.

The bread earner of a family typically needs a comprehensive risk cover, to ensure financial security to dependants in case of any eventuality.
The quantum of cover taken should also be sufficient and should take into account inflation and realistic spends.

Find out how much Life Insurance is required