Top 10 Life Insurance Policies in India.

Your insurance plan is not merely a protection against unforeseen circumstances, but is also a long-term investment option that comes with assured benefits. While it’s true that insurance can ensure cash flow during hard times, 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.

best life insurance plan
best life insurance plan

Here’s a listing of the top 10 insurance plans offered by some of the leading insurance companies in India:

Plan NamePlan TypeEntry Age (Min/Max)Policy Term(Min/Max)Sum Assured(Min/Max)
Aditya Birla Sun Life InsuranceTerm18 years to 65 years10 years to 55 yearsMinimum – Rs.25 lakh Maximum – No limit
SBI Life eShieldTerm18 years to 65 years5 years to 30 yearsMinimum – Rs.20 lakh Maximum – No limit
HDFC Life Click 2 Protect PlusTerm18 years to 65 years10 years to 40 yearsMinimum – Rs.25 lakh Maximum – No limit
Aviva i-LifeTerm18 years to 55 years10 years to 35 yearsMinimum – Rs.25 lakh Maximum – No limit
Future Generali Care PlusRural18 years to 60 years5 Years to 30 YearsMinimum – Rs.15 lakh Maximum – Rs. 50 Laks
Birla Sun Life BSLI [email protected] PlanTerm18 years to 65 years5 Years to 40 YearsMinimum – Rs.30 lakh Maximum – No Limit
LIC’s Jeevan Pragati PlanEndowment12 years to 45 years12 Years to 20 YearsMinimum – Rs.15 lakh Maximum – No Limit
Max Life Online Term Plan Plus Basic Life CoverTerm18 years to 60 years10 Years to 40 YearsMinimum – Rs.25 lakh Maximum – 100 Crores
Bharti Axa Life Elite SecureTerm18 years to 75 years10 years to 25 yearsMinimum – Rs.25 lakh Maximum – No Limit
PNB MetLife Mera Term PlanTerm18 years to 65 years10 Years to 40 YearsMinimum – Rs.10 lakh Maximum – No Limit

Aditya Birla Sun Life Insurance:

Aditya Birla Sun Life Term Insurance Plan offers multiple coverage options, namely increasing sum assured and level sum assured. Under level sum assured, the sum remains same for the entire year and under increasing sum assured the sum increases at the rate of 5% or 10% every year.

Features of Adity Birla Sun Life Term Insurance Plan:

Minimum age at entry18 Years
Maximum age at entry65 years
Minimum term period5 years
Maximum term period30 years
Minimum sum assuredRs.30,00,000
Maximum sum assuredNo limit on maximum sum assured
Premium payment modeMonthly, quarterly, half-yearly or annually
Premium termEqual as policy term

SBI Life eShield:

SBI Life eShield is a non-linked online insurance plan which provides higher returns on premiums. It’s designed basically to safeguard your family in your absence and secure them financially. The plan does not offer survival benefits at the time of maturity. 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 planLevel CoverLevel Cover with Accidental BenefitIncreasing CoverIncreasing Cover with Accidental Benefit
Maximum age at entry65 years for both Level Cover and Level Cover with Accidental Death Benefit60 years for Increasing Cover and Increasing Cover with Accidental Death Benefit
Minimum age at entry18 years
Minimum sum assuredRs.20,00,000
Maximum sum assuredNo limit (subject to underwriting)
Minimum policy term5 years (For Level Cover & Level Cover with Accident Benefit)10 years (For Increasing Cover & Increasing Cover with Accident Benefit)
Premium payment modeYearly
Premium termSame as policy term
Minimum premium amountRs.3,500
Maximum premium amountNo limit

HDFC Life Click 2 Protect Plus:

Click 2 Protect Plus is a term insurance plan launched by HDFC life that assures an extensive protection to your loved ones against life’s uncertainties. Even their timely necessities will be taken care of with a monthly income under the Income and Income Plus Option.

Features of HDFC Life Click 2 Protect Plus:

Cover options under Click 2 Protect PlusLife option: It offers a lump sum at death of the policyholderExtra life option ( Accidental Death Benefit): It provides an extra sum assured in addition to the lump sum offered on deathIncome Option: Provides 10% of sum assured on death and the remaining is paid out on a monthly basis for 15 yearsIncome 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 entry18 years
Maximum age at entry65 years
Minimum sum assuredRs.25 lakhs
Maximum sum assuredNo limit (subject to underwriting)
Premium payment modeYearly, half-yearly, quarterly, or monthly
Premium paying termRegular, limited, or single

Aviva i-Life:

Aviva i-Life is a term insurance plan that offers a comprehensive financial protection to your family in case of your death. The plan which comes at a nominal cost acts as an additional backup when your loved ones are faced with unfortunate incidents. 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 age18 years
Maximum entry age55 years
Maturity age70 years
Minimum policy term10 years
Maximum policy term35 years
Premium payment frequencyYearly and half-yearly
Premium payment termEquals the policy term
RidersNone
TaxTax benefits under Section 80C will be applicable

Future Generali Care Plus:

Emotional losses are irreparable, yet we can secure the lives of our beloved ones and provide them a smooth living even in our absence. Care Plus is a simple life insurance plan that offers a high life cover at an easily affordable price, which will ensure a complete financial protection of your family even when you are not around. Care Plus comes in two types—Classical Option and Premier Option.

Features of Future Generali Care Plus (Classic Option):

Minimum entry age18 years
Maximum entry age60 years
Minimum sum assuredRs.10,00,000
Maximum sum assuredRs.24,99,999
Minimum policy term5 years
Maximum policy term30 years
Maximum coverage age65 years
Minimum premiumRs.2,500 per annum
Premium modesYearly, half-yearly, quarterly, and monthly

Features of Future Generali Care Plus (Premier Option):

Minimum entry age18 years
Maximum entry age60 years
Minimum sum assuredRs.25,00,000
Maximum sum assuredNo limit
Minimum policy term5 years
Maximum policy term30 years
Maximum coverage age65 years
Minimum premiumRs.5,000 per annum
Premium modesYearly, half-yearly, quarterly, and monthly

Birla Sun Life BSLI [email protected] Plan:

BSLI [email protected] Plan is a term insurance plan that guarantees an end-to-end financial protection to your family in the event of your death. The plan has been tailored to meet each and every requirement of a family, and hence it comes with flexible coverage options. BSLI [email protected] plan also rewards the policyholders for maintaining healthy life habits. Tax benefits as per the Income Tax Act are applicable.

Features of BSLI [email protected] Plan:

Minimum entry age18 years
Maximum entry age65 years
Plan optionsLevel Term InsuranceIncreasing Term Insurance
Minimum policy term5 years
Maximum policy term40 years
Premium paying termSingle paymentLimited PaymentRegular Payment
Premium payment modeYearly or monthly
Minimum Sum AssuredRs.30,00,000
Maximum Sum AssuredNo limit (subject to underwriting)
Riders availableBSLI Accidental Death & Disability RiderBSLI Hospital Care Rider

LIC’s Jeevan Pragati Plan:

Jeevan Pragati is a non-linked life insurance plan offered by LIC, which is a combination of life cover and savings. The plan qualifies for an automatic increase in risk cover in every 5 years during the term. Policyholders can also avail loan facility under LIC’s Jeevan Pragati Plan.

Features of LIC’s Jeevan Pragati Plan:

Minimum entry age12 years
Maximum entry age45 years
Policy term12 to 20 years
Minimum basic sum assuredRs.1,50,000
Maximum basic sum assuredNo limit
Maximum age at maturity65 years
Premium payment modesYearly, half-yearly, quarterly, and monthly

Max Life Online Term Plan Plus Basic Life Cover:

The Max Life term plan comes with a protection solution that secures the future of your family even in your absence. The plan offers extensive coverage with add-ons such as benefit rider, premium waiver options, etc. It’s which offers death benefits and no maturity benefits.

Features of Max Life Online Term Plan Plus Basic Life Cover:

Minimum entry age18 years
Maximum entry age60 years
Policy term10 years to 40 years
Minimum sum assuredRs.25 lakhs
Maximum sum assured100 Crores
Premium payment termEqual to policy term
Premium payment modeYearly, half-yearly, quarterly, and monthly

Bharti Axa Life Elite Secure:

It’s an affordable plan that provides an extensive financial support to the dependents of the insured, in case an unfortunate incident takes place. The plan offers competitive premium rates and comes with an option to cover your life till 75 years of age. Tax benefits under Section 80C and 10(10D) are applicable.

Features of Bharti Axa Life Elite Secure:

Minimum entry age18 years
Maximum entry age75 years for the policy term of 10, 15, 20, and 25 years.65 years for a term period of 5 years
Minimum sum assuredRs.25,00,000
Premium payment termEquals policy term
Premium payment modesYearly, half-yearly, quarterly, and monthly

PNB MetLife Mera Term Plan:

Mera Term Plan, as the name suggests, is a tailor made life insurance cover that offers a comprehensive protection to your family in your absence. The payouts are available as a lump sum plus regular monthly income, lump sum plus increasing monthly income, and lump sum plus regular monthly income till your child attains 21 years of age.

Features of PNB MetLife Mera Term Plan:

Minimum entry age18 years
Maximum entry age65 years
Minimum sum assuredRs.10,00,000
Age at maturity75 years
Policy term10 years to 40 years
Premium payment termEquals the policy term

PNB MetLife Mera Term Plan:

Mera Term Plan, as the name suggests, is a tailor made life insurance cover that offers a comprehensive protection to your family in your absence. The payouts are available as a lump sum plus regular monthly income, lump sum plus increasing monthly income, and lump sum plus regular monthly income till your child attains 21 years of age.

Features of PNB MetLife Mera Term Plan:

Minimum entry age18 years
Maximum entry age65 years
Minimum sum assuredRs.10,00,000
Age at maturity75 years
Policy term10 years to 40 years
Premium payment termEquals the policy term

Faq on Top 10 Life Insurance Policies in India

  1. What are the benefits of the SBI Life eShield Plan?SBI Life eShield Plan is an online term insurance plan which offers high insurance coverage to the policyholder at affordable premiums. In addition, the plan offers complete financial coverage to the family members of the policyholders in the event of their deaths.
  2. How to check my policy status for Aditya Birla Sun Life Term Insurance Plan?The policyholders have to log in to the e-portal of Aditya Birla Sun Life’s official website using their client ID and password to check their policy status.
  3. What are the plan options available under HDFC Life Click 2 Protect Plus?Under this policy, the policyholder will get various plan options like Extra Life Option, Life Option, Income Plus Option, and Income Option.
  4. How can I cancel my Aviva Term Insurance policy?You have to attach all the required policy documents along with the duly filled surrender form at your nearest Aviva Life Insurance branch.
  5. What are the documents required to apply for term life insurance?The policyholder should submit scanned copies of the PAN card, Aadhar card, Voter ID card, and two passport size photographs.

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Biswajit Barman
Author: Biswajit Barman

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