Main menu

Pages

Top 10 Life Insurance Policies in India for 2022

Visit the InWallet$ website to know about the top insurance plans for this year. That will help you know about the type of insurance product that you're looking for and which is the best insurance policy that you can buy for yourself.

Insurance is a long term investment plan with benefits. But in order to get the full benefits from it, you need to maintain your premium payments and make sure you know what's covered by the plan for unexpected events, but it’s also a fact that badly chosen plans may prove worthless in times of need. Therefore, make sure that you prepare a checklist of your requirements and compare all insurance offers provided by the leading insurers.This is a listing of the ten most popular insurance options that some of the leading Indian companies offer:

Top10 Life Insurance Policies in India for 2022

Future Generali Care Plus

Rural

18 years to 60 years

5 Years to 30 Years

Minimum - Rs.15 lakh Maximum - Rs. 50 Laks

Birla Sun Life BSLI [email protected] Plan

Term

18 years to 65 years

5 Years to 40 Years

Minimum - Rs.30 lakh Maximum - No Limit

LIC’s Jeevan Pragati Plan

Endowment

12 years to 45 years

12 Years to 20 Years

Minimum - Rs.15 lakh Maximum - No Limit

Max Life Online Term Plan Plus Basic Life Cover

Term

18 years to 60 years

10 Years to 40 Years

Minimum - Rs.25 lakh Maximum - 100 Crores

Bharti Axa Life Elite Secure

Term

18 years to 75 years

10 years to 25 years

Minimum - Rs.25 lakh Maximum - No Limit

PNB MetLife Mera Term Plan

Term

18 years to 65 years

10 Years to 40 Years

Minimum - Rs.10 lakh Maximum - No Limit

1. Aditya Birla Sun Life Insurance:

Aditya Birla Sun Life Term Insurance Plan offers different types of insurance cover, including the level sum assured and the increasing sum assured. Under level sum assured, insurance coverage will stay the same for a year and under an increasing policy it will increase as you grow older- which can be great for parents.

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

2. SBI Life eShield:

SBI Life eShield is a non-linked online insurance plan which protects your family financially in your absence. Higher premiums are awarded with increased savings, so it's perfect for those people looking to build up capital. The only caveat is that survival benefits at the time of death are not given. Without involving paperwork and agent meeting, you can apply for the plan with just a click.

Features of SBI Life eShield:

Cover options under the eShield plan


• Level Cover
• Level Cover with Accidental Benefit
• Increasing Cover
• Increasing Cover with Accidental Benefit

Maximum age at entry


• 65 years for both Level Cover and Level Cover with Accidental Death Benefit
• 60 years for Increasing Cover and Increasing Cover with Accidental Death Benefit

Minimum age at entry

18 years

Minimum sum assured

Rs.20,00,000

Maximum sum assured

No limit (subject to underwriting)

Minimum policy term


• 5 years (For Level Cover & Level Cover with Accident Benefit)
• 10 years (For Increasing Cover & Increasing Cover with Accident Benefit)

Premium payment mode

Yearly

Premium term

Same as policy term

Minimum premium amount

Rs.3,500

Maximum premium amount

No limit

3. HDFC Life Click 2 Protect Plus:

Click 2 Protect Plus is a term insurance plan that HDFC Life has created in order to offer extensive and comprehensive coverage against the uncertainties of life. You can be rest assured that not only will they have your back in case anything happens, but they will also take care of their financial necessities with this income each month.

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

4. Aviva i-Life:

Aviva term insurance helps your family out financially in case anything bad happens to you. The plan that comes at a low cost of may be a good option for the people who don't want to risk paying higher premiums for life insurance . Aviva i-Life is a protection plan and hence it doesn’t offer maturity benefits. Refer to the below table for features of Aviva i-Life.

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

5. Future Generali Care Plus:

My loved ones need to be provided for if anything were to happen and I am not around. This is precisely what Care Plus plan does - it offers life insurance coverage at a high level but at a price that is affordable.,Care Plus 2 provides complete financial protection for your family when you are not around. There are two types of coverage: Classical and Premier.

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

6. Birla Sun Life BSLI [email protected] Plan:

BSLI Protect Ease Plan is a term insurance plan that guarantees an end-to-end financial protection to your family in the event of your death. When you choose this plan, all that you need from the scheme is the first premium and then paying the premiums every year. You'll be provided with flexible payment terms, which makes it easier to spread over a long. BSLI [email protected] plan also rewards the policyholders for maintaining healthy life habits. Tax benefits as per the Income Tax Act are applicable.

BSLI is a leading insurance company that offers innovative products, such as the BSLI Protect Ease plan. With this plan, the policyholders can enjoy tax benefits and receive reward points for maintaining healthy life habits.

Features of BSLI [email protected] Plan:

Minimum entry age

18 years

Maximum entry age

65 years

Plan options


• Level Term Insurance
• Increasing Term Insurance

Minimum policy term

5 years

Maximum policy term

40 years

Premium paying term


• Single payment
• Limited Payment
• Regular Payment

Premium payment mode

Yearly or monthly

Minimum Sum Assured

Rs.30,00,000

Maximum Sum Assured

No limit (subject to underwriting)

Riders available


• BSLI Accidental Death & Disability Rider
• BSLI Hospital Care Rider

7. LIC’s Jeevan Pragati Plan:

Jeevan Pragati is an LIC plan that combines life cover and savings. It allows the policyholder to increase their risk coverage with every 5 years of continuous coverage, and they can also avail a loan facility with this package.

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

8. Max Life Online Term Plan Plus Basic Life Cover:

Max Life’s term plan comes with a comprehensive protection solution that safeguards your family in your absence. With extensions such as benefit rider and premium waiver options, etc, it offers 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

9. Bharti Axa Life Elite Secure:

It’s an affordable plan that provides extensive financial support to the dependents of the insured in case of misfortune. Premium rates come competitive and include an option until 75 years old to cover your life. Tax benefits under Section 80C and 10(10D) are applicable.

Features of Bharti Axa Life Elite Secure:

Minimum entry age

18 years

Maximum entry age


• 75 years for the policy term of 10, 15, 20, and 25 years.
• 65 years for a term period of 5 years

Minimum sum assured

Rs.25,00,000

Premium payment term

Equals policy term

Premium payment modes

Yearly, half-yearly, quarterly, and monthly

10. PNB MetLife Mera Term Plan:

Mera Term plan, as the name suggests, is a tailor-made life insurance policy that offers a range of benefits to your family in your absence. The payouts are available as a lump sum and regular monthly income, or lump sum combined with an increasing monthly income, and lump sum plus regular monthly income till your child attains 21 years of age. Mera TPL offers comprehensive protection to your family in your absence. It ensures that if anything happens to you, your loved ones are taken care of with a lump sum payout and regular income.

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


Faq on Top 10 Life Insurance Policies in India

  • What are the benefits of the SBI Life eShield Plan?

The SBI Life eShield Plan offers a high level of insurance coverage as well as protection for the policyholder's family. This is due to the plan's affordable monthly premiums & complete financial coverage for all members of their family.

  • How to check my policy status for Aditya Birla Sun Life Term Insurance Plan?

In order to check their Aditya Birla Sun Life policy status, policyholders must log in to the company's online portal using their client ID and password.

  • What are the plan options available under HDFC Life Click 2 Protect Plus?

Under this policy, the holder will be able to purchase various plans, like Extra Life Option, Life Option, Income Plus Option, and Income Option

  • How can I cancel my Aviva Term Insurance policy?

You need to attach all the relevant policy documents, as well as your duly-filled surrender form, at you nearest Aviva Life Insurance branch.

  • What are the documents required to apply for term life insurance?

To complete the policy process, please submit quadruple photocopies of your PAN card, Aadhar card, Voter ID card and two passport size photographs.


Comments