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  • Best Life Insurance Plans India

    Life Insurance
    • Premiums as low as Rs.18/day for sum assured of Rs.1 crore
    • Paperless process available
    • Choose between lump sum and monthly payout options

    A life insurance plan is a must-have if you want to safeguard your dependents financially, in the event of an unfortunate eventuality. While there are a host of insurance plans offered by leading life insurance firms with varied benefits and features, finding the right insurance policy can seem like a daunting task given the sheer amount of options. Thus, here’s a list of the top 10 life insurance policies that are offered by life insurance firms in India for the year 2017.

    Plan Name Plan Type Entry Age Policy Term Sum Assured
    LIC’s Jeevan Pragati Plan Endowment 12 – 45 Years 12 – 20 Years Minimum Sum Assured: Rs.1.5 lakh Maximum
    ICICI Pru iProtect Smart Plan Term 18 – 60 Years 5 – 40 Years *Varies based on the plan option and premium payment term Minimum Sum Assured: Subject to the minimum premium amount Maximum Sum Assured: Unlimited
    SBI Life eShield Plan Term 18 – 65 Years 5 – 30 Years Minimum Sum Assured: Rs.20 lakh Maximum Sum Assured: No Limit
    HDFC Life Click2Protect 3D Plus Plan Term 18 – 65 Years 5 – 40 Years Minimum Sum Assured: Rs.10 lakh Maximum Sum Assured: As per company’s underwriting policy
    HDFC SL Crest Plan ULIP 14 – 55 Years 10 Years Minimum Sum Assured:
    • Entry Age under 45 Years: 10 x Annual Premium
    • Entry Age of 45 years and above: 7 x Annual Premium
    Maximum Sum Assured: 20 x Annual Premium
    Kotak Life e-Term Plan Term 18 – 65 Years 5 – 40 Years or (75 – Age at Entry) Years Minimum Sum Assured: Rs.25 lakh Maximum Sum Assured: No limit
    Aviva i-Life Plan Term 18 – 55 Years 10 – 35 Years Minimum Sum Assured: Rs.25 lakh Maximum Sum Assured: No limit
    Future Generali Care Plus Plan Term 18 – 60 Years 5 – 30 Years Classic Option:
    • Minimum Sum Assured: Rs.10 lakh
    • Maximum Sum Assured: Rs.24,99,999
    Premier Option:
    • Minimum Sum Assured: Rs.25 lakh
    • Maximum Sum Assured: No limit
    Bajaj Allianz iSecure Plan Term 18 – 60 Years 10 – 30 Years
    • Minimum Sum Assured: Rs.2.5 lakh
    • Maximum Sum Assured: No limit
    LIC’s New Jeevan Anand Plan Endowment 18 – 50 Years 15 – 30 Years
    • Minimum Sum Assured: Rs.1 lakh
    • Maximum Sum Assured: No limit
    1. LIC’s Jeevan Pragati Plan

    2. The Jeevan Pragati Plan from Life Insurance Corporation of India (LIC) is a ‘with-profits’, non-linked, endowment plan that offers policy buyers the dual benefits of a savings cum protection tool.

      Key Features of LIC’s Jeevan Pragati Plan:

      Minimum Age at Entry 12 years
      Maximum Age at Entry 45 years
      Maximum Maturity Age 65 years
      Minimum Sum Assured Rs.1.5 lakh
      Maximum Sum Assured No limit
      Policy Tenure 12 – 20 Years
      Premium Payment Mode
      • Yearly
      • Half-Yearly
      • Quarterly
      • Monthly
    3. ICICI Pru iProtect Smart Plan

    4. The iProtect Smart Plan from ICICI Prudential Life provides an enhanced coverage by offering a risk cover against death of the policyholder and also a cover against terminal illnesses and disability. Policy buyers are provided the option to choose any one of the four benefit/plan options and receive coverage accordingly.

      Key Features of ICICI Pru iProtect Smart Plan:

      Minimum Age at Entry 18 years
      Maximum Age at Entry 65 years
      Maximum Maturity Age 75 years
      Minimum Sum Assured Subject to the minimum premium amount
      Maximum Sum Assured No limit
      Policy Tenure 5 – 40 years (based on the benefit option and premium payment term)
      Premium Payment Mode
      • Single
      • Yearly
      • Half-Yearly
      • Monthly
      Premium Payment Term
      • Single Pay: Single
      • Limited Pay: Policy Term – 5 years
      • Regular Pay: Same as the policy tenure
      Minimum Premium Amount Rs.2,400 p.a.
      Maximum Premium Amount As per the company’s policy
      Plan/Benefit Options
      • Life
      • Life Plus
      • Life and Health
      • All in One
    5. SBI Life eShield Plan

    6. The eShield Plan from SBI Life is an individual, non-participating, non-linked, online, pure term insurance policy, which provides financial security to the policyholder’s dependents.

      Key Features of SBI Life eShield Plan:

      Minimum Age at Entry 18 years
      Maximum Age at Entry 60/65 years, based on plan option
      Maximum Maturity Age 70 years
      Minimum Sum Assured Rs.20 lakh
      Maximum Sum Assured No limit
      Policy Tenure 12 – 20 Years
      Premium Payment Mode Yearly
      Premium Payment Term Same as policy term
      Minimum Premium Amount Rs.3,500
      Maximum Premium Amount No Limit
      Plan Options
      • Level Cover
      • Level Cover with Accidental Death Benefit
      • Increasing Cover
      • Increasing Cover with Accidental Death Benefit
    7. HDFC Life Click2Protect 3D Plus Plan

    8. The Click2Protect 3D Plus Plan from HDFC Life is a non-linked, non-participating, term insurance plan that comes with 9 plan options, thus ensuring that the policyholder can avail policy coverage as per his/her needs.

      Key Features of HDFC Life Click2Protect 3D Plus Plan:

      Minimum Age at Entry 18 years/25 years (varies as per plan option)
      Maximum Age at Entry 65 years
      Maximum Maturity Age 75 years/Whole of life (varies based on plan option)
      Minimum Sum Assured Rs.10 lakh
      Maximum Sum Assured As per company’s underwriting norms
      Policy Tenure 5 – 40 years/Whole of life (varies based on plan option
      Premium Payment Mode
      • Annual
      • Semi-Annual
      • Quarterly
      • Monthly
      • Single
      Plan Options
      • Life Option
      • 3D Life Option
      • Extra Life Option
      • Income Option
      • Extra Life Income Option
      • Income Replacement Option
      • Return of Premium Option
      • Life Long Protection Option
      • 3D Life Long Protection Option
    9. HDFC SL Crest Plan

    10. The HDFC SL Crest Plan is a short-term, unit linked insurance policy that can provide you a life cover for the duration of the policy tenure and help you meet your financial goals with ease.

      Key Features of the HDFC SL Crest Plan:

      Minimum Age at Entry 14 years
      Maximum Age at Entry 55 years
      Maximum Maturity Age 65 years
      Minimum Sum Assured
      • Entry Age under 45 Years: 10 x Annual Premium
      • Entry Age of 45 years and above: 7 x Annual Premium
      Maximum Sum Assured Annual Premium x 20
      Policy Tenure 10 years
      Premium Payment Mode Annual
      Premium Payment Term 5 years
      Minimum Premium Amount Rs.50,000
      Maximum Premium Amount No limit
    11. Kotak Life e-Term Plan

    12. The e-Term Plan from Kotak Life is a term insurance plan that provides the policy buyer a risk cover for the duration of the policy tenure. This plan offers a high sum assured at an affordable cost.

      Key Features of Kotak Life e-Term Plan:

      Minimum Age at Entry 18 years
      Maximum Age at Entry 65 years
      Maximum Maturity Age 75 years
      Minimum Sum Assured Rs.25 lakh
      Maximum Sum Assured No limit
      Policy Tenure 5 – 40 years or 75 years – age at entry
      Premium Payment Mode
      • Single
      • Yearly
      • Half-Yearly
      • Quarterly
      • Monthly
      Premium Payment Term
      • Regular Pay: Same as policy term
      • Limited Pay: 5, 7, 10, or 15 years (will vary on the basis of the minimum policy term)
      • Single Pay: One-time payment
      Minimum Premium Amount Will vary based on the age at entry, lifestyle, gender, plan option, sum assured, etc.
      Maximum Premium Amount No limit
      Plan Options
      • Life Option
      • Life Plus Option
      • Life Secure Option
    13. Aviva i-Life Plan

    14. The i-Life Plan from Aviva Life Insurance is a pure term insurance plan that can be purchased online, in a hassle-free manner. The policy provides a risk cover against death, and a high sum assured is paid to the nominee in the event of the policyholder’s death.

      Key Features of Aviva i-Life Plan:

      Minimum Age at Entry 18 years
      Maximum Age at Entry 55 years
      Maximum Maturity Age 70 years
      Minimum Sum Assured Rs.25 lakh
      Maximum Sum Assured No limit
      Policy Tenure 10 – 35 years
      Premium Payment Mode
      • Annual
      • Bi-annual
      Premium Payment Term Same as the policy term
    15. Future Generali Care Plus Plan

    16. The Care Plus Plan from Future Generali comes with two plan options – the Classic option and the Premier option. Under this plan, if the policyholder passes away during the policy tenure, a significant death benefit will be paid to the nominee.

      Key Features of the Future Generali Care Plus Plan:

      Minimum Age at Entry 18 years
      Maximum Age at Entry 60 years
      Maximum Maturity Age 65 years
      Minimum Sum Assured
      • Classic option: Rs.10 lakh
      • Premier option: Rs.25 lakh
      Maximum Sum Assured
      • Classic option: Rs.24,99,999
      • Premier option: No limit
      Policy Tenure 5 – 30 years
      Premium Payment Mode
      • Yearly
      • Half-Yearly
      • Monthly
      Premium Payment Term Same as the policy term
      Minimum Premium Amount
      • Classic option: Rs.2,500
      • Premier option: No limit
      Plan Options
      • Classic option
      • Premier option
    17. Bajaj Allianz iSecure Plan

    18. The iSecure Plan from Bajaj Allianz is a non-participating, term insurance policy that provides the policyholder a risk cover against death and a death benefit to the nominee in case the policyholder succumbs to an untimely death while the policy is in full force.

      Key Features of Bajaj Allianz iSecure Plan:

      Minimum Age at Entry 18 years
      Maximum Age at Entry 60 years
      Maximum Maturity Age 70 years
      Minimum Sum Assured Rs.2.5 lakh
      Maximum Sum Assured No limit
      Policy Tenure 10 – 30 years
      Premium Payment Mode
      • Monthly
      • Quarterly
      • Half-Yearly
      • Yearly
      Minimum Premium Amount
      • Yearly Premium Payment: Rs.1,000
      • Half-Yearly Premium Payment: Rs.500
      • Quarterly Premium Payment: Rs.250
      • Monthly Premium Payment: Rs.100
      *Note: Minimum premium mentioned above applies to sum assured under Rs.20 lakh
      Plan Options
      • Annual Renewable Term Insurance Plan
      • Level Premium Term Insurance Plan
    19. LIC’s New Jeevan Anand Plan

    20. The New Jeevan Anand Plan from LIC is a non-linked, participating, endowment insurance plan which provides the policyholder or the nominee a range of benefits, such as a death benefit, a maturity benefit, and payment of additional bonuses.

      Key Features of LIC’s New Jeevan Anand Plan:

      Minimum Age at Entry 18 years
      Maximum Age at Entry 50 years
      Maximum Maturity Age 75 years
      Minimum Sum Assured Rs.1 lakh
      Maximum Sum Assured No limit
      Policy Tenure 15 – 35 years
      Premium Payment Mode
      • Yearly
      • Half-Yearly
      • Quarterly
      • Monthly

    In conclusion, purchasing a life insurance policy is one of the most important financial decisions you will have to make. Given the range of options you have, ensure that you compare policies, request for premium quotes from various insurers and purchase a plan that best matches your requirements.