Top 5 Life Insurance Policies In India 2024

Table of Contents:

• Top 5 Best Life Insurance Policies in India
• Premium Table for the Best Term Insurance Plans
• How to Choose the Best Life Insurance Policy?
• How to Buy the Best Life Insurance Policy Online?
• Conclusion

Top 5 Best Life Insurance Policies in India

Term insurance plans are the best life insurance plans in India. Here’s a list of the 5 best life insurance policies from leading life insurance companies in India:

1. Bajaj Allianz Smart Protect Goal Plan

Bajaj Allianz’s smart protect goal is an individual, life, non-linked, non-participating, single/limited/regular premium payment, savings (ROP), and pure risk term cover plan, providing protection and add-on covers. It is a complete term plan that is easy on your pocket and it not only offers you the option to get back the entire premium at the time of maturity but also protects you against financial loss from several critical illnesses.

Features & Eligibility:

• Entry Age: Minimum 18 years to Maximum 65 years
• Maximum age at Maturity: 75 years with ROP, 85 years without ROP, 99 years the whole life
• Sum Assured: Minimum 5 Lacs and Maximum as per Board approved guidelines.
• Life Cover: Self
• Policy Term: 5 years to 40 years
• Premium Payment: Single payment, Regular payment, or Limited payment.

2. Tata AIA Sampoorna Raksha Supreme

Tata AIA Life Insurance Sampoorna Raksha Supreme Plan provides financial protection to your family and offers you the flexibility to choose the plan that suits your need. At each life stage, regardless of your gender, occupation, age, etc., this plan can prepare your family for life's uncertain events.

Features & Eligibility:

• Entry Age: Minimum 18 years to Maximum 65 years
• Maximum age at Maturity: 65 years to 100 years
• Sum Assured: Minimum Rs. 1 lac and Maximum as per Board approved guidelines.
• Premium Payment Term: Limited Pay, Single Pay, Regular Pay
• Premium Payment Mode: Yearly, Half-Yearly, Quarterly, Monthly. Single

3. Aditya Birla Sun Life Insurance DigiShield Plan

Aditya Birla Sun Life Insurance DigiShield Plan is a non-linked term insurance plan. This term life insurance plan has to be chosen per the customer’s requirements with reasonable premiums. Provides 10 different Aditya Birla sun life insurance policy options as per your family's needs so they need not compromise on their lifestyle, even in your absence.

Features & Eligibility:

• Entry Age:

  For Plan Option: 1, 2, 3, 6, 7, 8, 10: Minimum 18 years to Maximum 65 years
  For Plan Option: 4, 5: Minimum 45 to Maximum 65 years
  For Plan Option: 9: Minimum 18 to Maximum of 50 years

• Maximum age at Maturity:

  For Plan Option: 1, 2, 3, 6, 7, 8, 10: 85 years
  For Plan Option: 4, 5: 100 years
  For Plan Option: 9: 69 years

• Sum Assured:

  For Plan Option: 1, 2, 3, 4, 5, 6, 7, 9, 10: Minimum – Rs. 30 Lakh and Maximum – No Limit
  For Plan Option: 8: Minimum – Rs. 1 Lakh and Maximum – Rs. 20 lakh

• Premium Payment: Single payment, Regular payment, or Limited payment.
• Premium Mode: Annual, Semi-annual, Quarterly, Monthly

4. HDFC Life Click 2 Protect Plan

An HDFC click 2 protect term plan is a non-linked, individual, pure risk premium/savings life insurance to give assurance of a 98.01% claim settlement ratio, additional sum assured on Accidental death, money-back all premiums paid on survival till maturity with the return of premium option, avail waiver of premium on the diagnosis of critical illness, and special premium rates for female lives and non-tobacco users.

Features & Eligibility:

• Entry Age: Minimum 18 years to Maximum 65 years
• Maximum age at Maturity: 85 years
• Sum Assured: Minimum Rs. 25lacs and Maximum as per Board approved guidelines.
• Premium Payment Term: Limited Pay, Single Pay, Regular Pay
• Premium Payment Mode: Yearly, Half-Yearly, Quarterly, Monthly. Single

5. PNB MetLife Mera Term Plan Plus

The plan offers you the flexibility to choose protection against Death, Critical Illness, Disability, and Terminal Illness along with various additional options like spouse coverage and whole-life protection. You can also customize your coverage with various cover enhancement options available under the plan.

Features & Eligibility:

• Entry Age: Minimum 18 years to Maximum 65 years
• Maximum age at Maturity: 75 years
• Sum Assured: Minimum Rs. 25 lacs and Maximum as per Board approved guidelines.
• Premium Payment Term: Limited Pay, Single Pay, Regular Pay
• Premium Payment Mode: Yearly, Half-Yearly, Quarterly, Monthly. Single

Premium Table for the Best Term Insurance Plans

How to Choose the Best Life Insurance Policy?

There are different life insurance plans offered by different life insurance companies in India and at times it can get difficult to choose the best plan from different options. Here are some basic steps you should follow to choose the best policy

• Identify the type of policy you need.
• Before purchasing a life insurance policy determine the sum assured amount.
• Before purchasing a life insurance policy should check the claim settlement ratios of life insurance companies.
• Know about inclusions and exclusions of the life insurance policy.
• Before buying the life insurance plans read the terms and conditions thoroughly.
• Before purchasing a life insurance policy check customer reviews of life insurance companies.
• Check all the companies offering life insurance policies, compare them, and then select the one that suits you the best.

How to Buy the Best Life Insurance Policy Online?

The process of buying a life insurance policy online has become simple with PolicyBachat. At PolicyBachat you can get easy comparisons, fast policy issuance, customer service assistance, and other benefits. Following the steps to purchase the best life insurance policy online at PolicyBachat.

• Step 1: Firstly, Enter the details such as Gender, Annual income from all the sources, Alcohol consumption and tobacco consumption, type of occupation, salary, and Date of Birth. After this, you need to enter your contact details to facilitate a call from our agent.
• Step 2: Now the premium from different insurance companies will be displayed on the screen. You can edit the details such as Coverage, Term, Premium payment method, Mode of claim settlement, etc. Submit the details to get the desired premium. The premium can be changed by changing other factors such as Coverage required, mode of payment, etc.
• Step 3: The next step is to select the best life insurance plan and pay the premium to the insurance company before proceeding to fill out the proposal form details.

Conclusion

When it comes to choosing the best life insurance policy in India, you need to consider your needs and the type of coverage you would like. There are different types of plans available in the market that offer different features and benefits. You can compare each plan and its features and benefits before making a decision.

You should always research various types of life insurance policies before making a final decision. PolicyBachat provides the best life insurance policies from the best life insurance companies. So, compare quotes now to get the best life insurance plan.