Child Plan
Children’s Insurance Company Analysis
  PLANS Life Insurance Corporation of India ICICI Prudential Life Insurance HDFC Standard Life Insurance Birla Sunlife Insurance Bajaj Allianz Life Insurance SBI Life Insurance Max Life Insurance Tata AIA Life Insurance Reliance Life Insurance ING Vysya Life Insurance
Parameters Policy Name Child ULIPs NA Smart Kid Solution Youngstar Super Premium NA Future Gain Smart Scholar Shikhsha Plus Super Super Achiever Education Plan Wealth Maxima Child
Child Endowment Plan MoneyBack NA Youngstar Udaan Vision Star Plan Invest Assure Policy Smart Champ Insurance NA NA Child Plan Mera Aashirvad
Premium Amount Child ULIPs  NA                                48,000                                          48,000  NA                        48,000                                     48,000                             48,000                                   48,000                                   48,000                                          48,000
Child Endowment Plan                                       4,681  NA                                          13,593                                  8,956                          7,805                                        6,085 NA  NA                                     6,984                                            6,000
Sum Insured Child ULIPs  NA                              480,000                                        480,000  NA                      480,000                                   480,000                           480,000                                 480,000                                 480,000                                        480,000
Child Endowment Plan                                  100,000  NA                                        100,000                             100,000                      100,000                                   100,000 NA  NA                                 100,000                                        100,000
Maturity Amount Child ULIPs  NA                          2,106,545                                    1,688,839 NA                  1,926,831                               1,934,673                       1,803,866 1,200,048                             1,330,966                                    1,256,427
Child Endowment Plan                                  208,000  NA                                        407,138                             196,600                      156,051                                   168,000 NA NA                                 192,000                                        165,000
IRR Child ULIPs NA 7.00% 5.12% NA 6.25% 6.98% 5.68% 7.07% 3.10% 3.00%
Child Endowment Plan 7.00% NA 5.00% 5.00% 4.52% 3.97% NA NA 3.00% 3.00%
Policy Term Child ULIPs  NA                                        20                                                  20 NA                                20 20 20 20                                           20                                                  20
Child Endowment Plan                                             24  NA                                                  20 20                                20 20 NA NA                                           20                                                  20
Premium Payment Term Child ULIPs  NA                                        20                                                  20 NA                                20 17 20 8                                           20                                                  20
Child Endowment Plan  NA                                                  15 10                                10 17 NA NA                                           20                                                  20
Insured Person (Parent/Child) Child ULIPs  NA  Parent  Parent NA Parent Parent Parent Parent Parent Parent
Child Endowment Plan  Parent  NA  Parent  Parent Parent Parent NA NA Parent Parent
Riders & Benefits Child ULIPs NA Accidental Benefit Waiver of Premium NA No Riders offered by this company Premium Payor Benefit Rider,Dual Protection, Accidental Benefit, Twin Benefit, Settlement Option, Maturity Benefit No Riders; Death Benefit NA Term Life Insurance Rider Benefit, Major surgical benefit rider, family income benefit rider, accidental death, disability rider and critical condition benefit Maturity Benefit, Life Cover
Child Endowment Plan NA NA Waiver of Premium NA No Riders offered by this company Waiver of Premium NA NA Guranteed Periodic Benefit, Tax Benefit, Maturity Benefit, Flexibilty, Protection for your family Waiver of Premium, Guaranteed Life Cover, Guaranteed Tax Free Maturity Benefit, Flexibilty to receive periodic payout

Childrens-Insurance-Company-Analysis-1024x316

Retirement
Retirement Pension Plan – Insurance Company Analysis
  PARAMETERS Life Insurance Corporation of India ICICI Prudential Life Insurance HDFC Standard Life Insurance Birla Sunlife Insurance Bajaj Allianz Life Insurance SBI Life Insurance Max Life Insurance Tata AIA Life Insurance Reliance Life Insurance ING Vysya Life Insurance
Individual Retirement Account Policy Name Jeevan Anand Easy Retirement Pension Super Plus Empower Pension Plan Retire Rich Saral Pension Forever Young Pension Plan Maha Life Gold Reliance Smart Pension Plan Exide Life Golden Years Retirement Plan
Policy Type Traditional ULIP ULIP ULIP ULIP Traditional ULIP Traditional ULIP ULIP
Premium Amount                                      48,000                                48,000                                      48,000                              48,000                               48,000                        48,000                                 48,000                                   48,000                                  48,000                                  48,000
Sum insured                                1,008,000                          1,008,000                                1,008,000                        1,008,000                         1,008,000                  1,008,000                           1,008,000                             1,008,000                            1,008,000                            1,008,000
Pension Amount                                    137,592                             137,474                                   136,476                            135,600                            139,200                     134,800                               115,546                                 105,200                                133,772                                102,691
IRR 5.00% 5.00% 6.00% 5.00% 6.00% 6.60% 6.00% 6.00% 6.15% 5.98%
Policy Term 20 20 20 20                                       20                                20                                         20 20                                          20                                           20
Commutation Option No Yes, 33.33% Yes, 33.33% Yes, 33.33%  No Yes, 33.33% Yes, 33.33%  No  No  No
Tax Benefit                                    150,000                             150,000                                   150,000                            150,000                            150,000                     150,000                               150,000                                 150,000                                150,000                                150,000

Retirement-Plan[1]

Assumptions

Sr. No. Assumption
1 Top 10 life Insurance Companies of India in 2015.
2 For child insurance- Age of Parent considered is 35 years and child’s age is 1 year.
3 For child insurance – Sum Insured is 10 times of Premium Amount.
4 For child insurance – Return assumption rate of 8% pre expenses is assumed
5 For retirement policy- Sum insured is 105% of total premium paid across the term.
6 For retirement policy- Pension amount and tax benefit is annual amount.
7 Pension is Taxable and only 1/3rd can be computed as tax free.

Sources

Sr. No. Link
1 http://www.worldblaze.in/top-10-best-life-insurance-companies-in-india/
2 http://www.policybazaar.com/life-insurance/child-plans/
3 http://retireplan.about.com/od/glossary/tp/6-Types-Of-Retirement-Plans-You-Should-Know.htm?utm_term=Retirement%20Plan%20Types&utm_content=p1-main-1-title&utm_medium=sem-rel&utm_source=google&utm_campaign=adid-352ba40b-67ca-409e-835e-a6236fb19c12-0-ab_gsb_ocode-5944&ad=semD&an=google_s&am=broad&q=Retirement%20Plan%20Types&dqi=&o=5944&l=sem&qsrc=6&askid=352ba40b-67ca-409e-835e-a6236fb19c12-0-ab_gsb
4 http://www.iciciprulife.com/public/Easy-Retirement/buy-Easy-Retirement-online.htm?UID=1012#ebi

Credits – Divya Agarwal