MetLife India Insurance Company Limited (MetLife) today announced the launch of its new unit linked child plan - "Met Smart Child". As Indians, we aspire the very best for our children and Insurance companies want to encash that feeling by launching new products targeted for children. This is the second Child Savings Plan added in MetLife's portfolio, after Met Bhavishya.

How to plan for children's education and marriage and Make a difference to your child's future

The Metlife child plan offers the same things as the other insurance companies in India. They all claim to offer a complete solution for child's higher education, even in the absence of parents. The life insured is the parent or grandparent and the beneficiary is the child/grandchild.

The fund will charge 7 per cent in the first year, 6 per cent in the second year and from third year onwards a charge of 5 per cent will be levied on the premiums before investing. The administration charges will be Rs 10 per month between first to fifth year and from sixth year onwards the administration charges become Rs 35 per month. The fund management charges will range from 1.10 per cent - 1.25 per cent and the mortality charges will be calculated on the basis of the attained age of the parent.

If you are researching for the cheapest term insurance that you can buy in India, Aviva's i-Life is a good option. For a 30 year old non smoker male, the premium Aviva charges is just Rs 7,861/- for a 1 crore insurance policy.

The best part is that Aviva offers a term of 35 years. Compare this with Aegon Religare's i-term where you get a term up to 25 years only. For a 30 year non smoker male, Aegon charges a premium of Rs 10,809/- for a 1 crore insurance.

The Benefits and Details:

Death Benefit: Incase of your unfortunate death during the policy term, the Sum Assured will be paid to the beneficiary in your family to take care of their future needs.

Aviva i-Life is available in select cities. Here's the link to buy online, where you get your premium calculated and the buying process is easy.

Here's a unique Insurance plan from LIC . It's called Jeevan Saral and it lives upto its name, for sure.

You simply decide the amount you are ready to pay every month. LIC will insure you for 250 times that amount, regardless of your age ( between 18 and 50, of course). And if you have any qualms about paying monthly, you can opt for quarterly, halfyearly or annual payments too.

The Maturity Sum Assured depends on the age at entry of the life to be assured and is payable on survival to the end of the policy term. It also offers the flexibility of term and a lot of liquidity by way of partial surrender of policy whenever you require some urgent money.

For benefit details and an illustration too, go to the LIC website

LIC is launching a single premium product, just like it's best selling Jeevan Aastha, as per NDTV. LIC is launching a single premium policy after a gap of two and a half years and sources say that the insurance giant is expected to offer a fixed return in the range of 7-8 per cent per annum with insurance cover added to the product.

Sources have told NDTV that LIC is waiting to get the final approval from Insurance regulator IRDA and intends to launch this product in the first week of September.

Though prominent financial planners are not in favour of single premium policies, despite a brand like LIC offering it.

Gaurav Mashruwala, Financial Planner, “Instead of that if I invest that money on FD and every year erode little bit of returns and capital, I would still be better off as maneuvering that product at later stage remains with me and I would have generated better returns also.”