Top 10 Life Insurance Plans in india 2023
Your insurance policy serves as both a long-term investment choice with guaranteed returns and protection against unforeseen events. Although insurance can help ensure cash flow in difficult times, poorly picked plans may end up being useless when you most need them. As a result, be sure to create a list of your requirements and compare each insurance offer made by the top insurers. The top 10 insurance plans provided by some of the top insurance providers in India are listed below:
No.1 Aditya Birla Sun Life Insurance
Birla, Aditya There are two types of coverage available under the Sun Life Term Insurance Plan: growing sum assured and flat sum assured. Under level sum promised, the amount is guaranteed to remain constant for the entire year; under growing sum assured, the amount is guaranteed to increase by 5% or 10% annually.
Features of Adity Birla Sun Life Term Insurance Plan:
Minimum age at entry |
18 Years |
Maximum age at entry |
65 years |
Minimum term period |
5 years |
Maximum term period |
30 years |
Minimum sum assured |
Rs.30,00,000 |
Maximum sum assured |
No limit on maximum sum assured |
Premium payment mode |
Monthly, quarterly, half-yearly or annually |
Premium term |
Equal as policy term |
No.2 SBI Life eShield
A non-linked internet insurance product called SBI Life eShield offers greater returns on premiums. Basically, it’s made to protect your family while you’re away and provide for them financially. At maturity, the plan does not provide rewards for surviving. You can just click to apply for the plan without having to fill out any paperwork or meet with an adviser.
Features of SBI Life eShield:
Cover options under the eShield plan |
|
Maximum age at entry |
|
Minimum age at entry |
18 years |
Minimum sum assured |
Rs.20,00,000 |
Maximum sum assured |
No limit (subject to underwriting) |
Minimum policy term |
|
Premium payment mode |
Yearly |
Premium term |
Same as policy term |
Minimum premium amount |
Rs.3,500 |
Maximum premium amount |
No limit |
HDFC Life Click 2 Protect Plus
An extensive level of security for your loved ones against the uncertainties of life is guaranteed by the term insurance plan HDFC Life Click 2 Protect Plus, which was introduced by HDFC Life. Under the Income and Income Plus Option, even their immediate needs will be met with a monthly income.
Features of HDFC Life Click 2 Protect Plus:
Cover options under Click 2 Protect Plus |
Life option: It offers a lump sum at death of the policyholder Extra life option ( Accidental Death Benefit): It provides an extra sum assured in addition to the lump sum offered on death Income Option: Provides 10% of sum assured on death and the remaining is paid out on a monthly basis for 15 years Income Plus Option: The option provides 100% of sum assured on death and also an arrears on 100% of sum assured which is paid on a monthly basis |
Minimum age at entry |
18 years |
Maximum age at entry |
65 years |
Minimum sum assured |
Rs.25 lakhs |
Maximum sum assured |
No limit (subject to underwriting) |
Premium payment mode |
Yearly, half-yearly, quarterly, or monthly |
Premium paying term |
Regular, limited, or single |
Aviva i-Life
The term insurance plan known as Aviva i-Life provides your family with complete financial security in the event of your passing. The inexpensive plan serves as an extra safety net when something awful happens to your loved ones. As a protection plan, Aviva i-Life does not provide maturity benefits. For more on Aviva i-Life’s features, see the table below.
Features of Aviva i-Life:
Minimum entry age |
18 years |
Maximum entry age |
55 years |
Maturity age |
70 years |
Minimum policy term |
10 years |
Maximum policy term |
35 years |
Premium payment frequency |
Yearly and half-yearly |
Premium payment term |
Equals the policy term |
Riders |
None |
Tax |
Tax benefits under Section 80C will be applicable |
Future Generali Care Plus
Even if emotional losses are irrevocable, we can ensure our loved ones’ safety and a comfortable life for them even when we are not around. Care Plus is a straightforward life insurance policy that provides high life coverage at an easily reasonable price, ensuring total financial security for your family even in the event of your death. There are two variations of Care Plus: Classical Option and Premier Option.
Features of Future Generali Care Plus (Classic Option):
Minimum entry age |
18 years |
Maximum entry age |
60 years |
Minimum sum assured |
Rs.10,00,000 |
Maximum sum assured |
Rs.24,99,999 |
Minimum policy term |
5 years |
Maximum policy term |
30 years |
Maximum coverage age |
65 years |
Minimum premium |
Rs.2,500 per annum |
Premium modes |
Yearly, half-yearly, quarterly, and monthly |
Features of Future Generali Care Plus (Premier Option):
Minimum entry age |
18 years |
Maximum entry age |
60 years |
Minimum sum assured |
Rs.25,00,000 |
Maximum sum assured |
No limit |
Minimum policy term |
5 years |
Maximum policy term |
30 years |
Maximum coverage age |
65 years |
Minimum premium |
Rs.5,000 per annum |
Premium modes |
Yearly, half-yearly, quarterly, and monthly |
Birla Sun Life BSLI Protect@Ease Plan
The BSLI Protect@Ease Plan is a term insurance policy that promises your family complete financial security in the case of your passing. The plan has been customised to satisfy every need of a family, thus it offers a variety of coverage alternatives. The BSLI Protect@Ease plan honours policyholders who uphold healthy lifestyle practises. The Income Tax Act’s tax benefits are applicable.
Features of BSLI Protect@Ease Plan:
Minimum entry age |
18 years |
Maximum entry age |
65 years |
Plan options |
|
Minimum policy term |
5 years |
Maximum policy term |
40 years |
Premium paying term |
|
Premium payment mode |
Yearly or monthly |
Minimum Sum Assured |
Rs.30,00,000 |
Maximum Sum Assured |
No limit (subject to underwriting) |
Riders available |
|
LIC’s Jeevan Pragati Plan
A blend of life insurance and savings, Jeevan Pragati is a non-linked life insurance plan provided by LIC. Every five years during the term, the plan is eligible for an automatic increase in risk coverage. Under LIC’s Jeevan Pragati Plan, policyholders may also use a borrowing facility.
Features of LIC’s Jeevan Pragati Plan:
Minimum entry age |
12 years |
Maximum entry age |
45 years |
Policy term |
12 to 20 years |
Minimum basic sum assured |
Rs.1,50,000 |
Maximum basic sum assured |
No limit |
Maximum age at maturity |
65 years |
Premium payment modes |
Yearly, half-yearly, quarterly, and monthly |
Max Life Online Term Plan Plus Basic Life Cover
The Max Life term plan includes a protection option that safeguards your family’s future even when you are not there. The plan provides substantial coverage along with optional features like benefit riders and premium waivers. It has no maturity advantages and only pays death benefits.
Features of Max Life Online Term Plan Plus Basic Life Cover:
Minimum entry age |
18 years |
Maximum entry age |
60 years |
Policy term |
10 years to 40 years |
Minimum sum assured |
Rs.25 lakhs |
Maximum sum assured |
100 Crores |
Premium payment term |
Equal to policy term |
Premium payment mode |
Yearly, half-yearly, quarterly, and monthly |
Bharti Axa Life Elite Secure
It is a cost-effective plan that offers the insured’s dependents substantial financial help in the event of an unexpected incidence. The Bharti Axa Life Elite Secure plan has affordable premium rates and gives you the choice of having your life covered up to age 75. Both Section 80C and Section 10(10D) tax benefits apply.
Features of Bharti Axa Life Elite Secure:
Minimum entry age |
18 years |
Maximum entry age |
|
Minimum sum assured |
Rs.25,00,000 |
Premium payment term |
Equals policy term |
Premium payment modes |
Yearly, half-yearly, quarterly, and monthly |
PNB MetLife Mera Term Plan
As its name suggests, the Mera Term Plan is a specially designed life insurance policy that provides your family with complete security while you are away. The distributions are available as an initial lump sum plus regular monthly income, an initial lump sum plus increasing regular monthly income, and an initial lump sum plus regular monthly income until your kid turns 21.
Features of PNB MetLife Mera Term Plan:
Minimum entry age |
18 years |
Maximum entry age |
65 years |
Minimum sum assured |
Rs.10,00,000 |
Age at maturity |
75 years |
Policy term |
10 years to 40 years |
Premium payment term |
Equals the policy term |
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