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Life Insurance premium will be less from 1st April

USNMix Report: Good news for life insurance policy holder, 
premium will be less from April 1.

If you have taken a life insurance policy, then this news is for your work. Life Insurance will be cheaper from the next financial year i.e. 1st April. Life insurance policy premium is expected to be reduced by 7 to 10 percent from the new financial year. But it will benefit people from the age group of 22 to 50 years. Actually, the death rate of people coming to this age group has decreased by 4 to 16 percent. Insurance premiums are changed every year in some countries, but changes in India occur only once in five to six years. 
Life Insurance premium will be less from 1st April

Mortality Table for 2012-2014 will be fixed
Now the premium for life insurance policy will be determined by the mortality table of 2012-2014. So far, the 2006-08 table base was for determining premium. The effect of the new change is expected to be more on the term insurance product. Based on this, premiums will be fixed if the customers above 50 years of age will not get the benefit. It is also expected that after the new change the premium on the insurance cover of the elderly increases.

According to the table, the mortality rate of people aged 82 to 105 years has increased from 3 to 21 percent. It is also clear that the mortality rate of women taking insurance has declined. According to this, the death rate of insured women of 14 to 44 years has improved from 4.5 to 17 percent.


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