ING Vysya Life Insurance Company Ltd is eyeing 25 per cent share from pension and retirement coverage premiums with the launch of 'ING Golden Life'-unit linked insurance program (ULIP)-based retirement plans.

Company anticipates around Rs2 75 crore of insurance premium from retirement programs in 2008. "Company is looking at Rs 1100 crore new concern income in the calendar twelvemonth 2008. Out of which insurance premium from retirement programs is expected to lend 25 per cent out of the total," said director-business development, YVDV Prasad, ING Vysya Life Insurance Company Ltd.

The company collected around Rs 40 crore from debt-based retirement program 'Best Year's' and managed to give 9.5 per cent tax return in the last year. It collected Rs953.75 crore insurance premium in calendar twelvemonth 2007.

"ULIP-based retirement programs represents 99 per cent of entire retirement insurance premium collected, and that's wherefore we decided to establish our first ULIP based retirement program -'ING Golden Life'," the manager said.

Retirement coverage insurance premium is expected to turn at over 100 per cent for the adjacent three to four years, as incursion degree is still very low, said Prasad. Premium aggregation from pension and retirement programs word forms 28 per cent of the sum coverage premium aggregations in the insurance industry and have grown at CAGR of 262 per cent in the last four years.

Total insurance premium aggregation from retirement program in 2007 stood at Rs 20,922 crore.

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Is buying a life insurance policy on your list of important things to do? Well, it should be. Let me ask you a few questions here. Do you love your spouse? Do you love your kids? Do you love your parents? Are you a responsible person? Do you have any common sense? All right, enough already. You're probably thinking I'm a jerk about now am I right? Well, the truth hurts sometimes and if you answer "yes" to all these questions and don't have a life insurance policy, that I'd be forced to argue that point.

Just how important is life insurance to your loved ones? It's important enough that the expenses for your final arrangements will be passed on to all of these individuals, in that exact order, your spouse, your children, if they're of legal age, and then your parents, unless you have some type of insurance policy to take care of those final expenses. I know that this is true, not only because I'm a former life and health insurance agent, but also because I've experienced this personally. I have a great amount of respect and love for the individual that left their final expenses in the lap of my wife and I, and even though we ended up being repaid at a later time, it was certainly a shock to both of us then.

As the breadwinner of the household you should have enough life insurance to provide for your family until your youngest child graduates from college. This includes every bill that you currently have, every bill that you expect to have in the future and a reasonable amount tacked on top just in case anything else unexpected comes up. That's why they call it insurance, for those unexpected things.

At minimum your spouse or significant other should have burial coverage, and even more if they bring in any type of income into the household. Underage children should have burial insurance, unless you co-sign for a vehicle or something of that nature.

I highly recommend that as soon as you're finished reading this article that you hop on over to the nearest website and start getting life insurance quotes so you can take care of your family like a responsible individual is supposed to. Don't let your own negligence leave them with an unnecessary burden. Enough said.

It recently occurred to me that I've been writing several articles about life insurance, individual, group, family, and so on, but I haven't taken the time to actually explain the basics of life insurance itself. I'm going to do that in this article.

Life insurance policies pay a death benefit, which is known as the "face value" to the beneficiary of the policy. The face value is nothing more than the amount of the policy. Example, a $100,000 life insurance policy would have a face value of $100,000, a $50,000 life insurance policy would have a face value of $50,000, etc. that's all there is to it.

Besides the insurance company, there are only three other people normally involved with any one life insurance policy. These three people are the owner, the insured and the beneficiary. Let's take a look at each one of these people.

The owner of the policy is the person who purchased the policy and is making the premium payments. The owner of the policy makes all of the decisions regarding the policy, including who is going to be insured and who the beneficiary is.

The insured person is exactly that, the person that the insurance was bought for. In the event that something happened to the person that is insured by the policy, a payment would be made to the beneficiary.

The beneficiary is the person that receives payment in the event that anything happens to the insured. There can be more than one beneficiary for each insurance policy. Example, let's say that one of your parents has a life insurance policy and they pass away suddenly. If you have brothers and sisters there is a good chance that your parents named all of you as beneficiaries of the policy.

Example, let's say that you have one brother and one sister and the policy was for $60,000 even. In this case, you would each receive $20,000. If you're an only child you'd receive it all.

There are only three basic types of life insurance. These are Whole Life, Endowment and Term. Although there are different variations of insurance policies, these are the three that you really need to focus on if you're considering getting a life insurance policy for yourself.