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Life Insurance: Best Life Insurance Plans In India In 2021

Published On Jul 08, 2021

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, it is 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. 

Below is a listing of the top insurance plans offered by some of the leading insurance companies in India.

Best Life Insurance Plans In India In 2021

Here's a list of the life insurance plans you should look at before purchasing one:

Insurance company

Name of the policy

Claim Settlement Ratio (CSR) FY20

HDFC India

HDFC Click To Protect Plus



ICICI Prudential iProtect Smart


Aviva India

Aviva i-Life


PNB India

PNB MetLife Mera Plan


LIC India

LIC Jeevan Pragati Plan


Future Generali India

Future Generali Care Plus


SBI India

SBI Life eSheild


1. HDFC Life Click 2 Protect Plus

Click 2 Protect Plus is an insurance plan launched by HDFC life that assures 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. Click 2 Protect Plus Life offers a lump sum at death of the policyholder. It provides an extra sum assured in addition to the lump sum offered on death. Minimum age at entry is 18 years. Maximum age at entry is 65 years.

2. ICICI Prudential iProtect Smart

ICICI Prudential iProtect Smart is an enhanced life protection plan that takes care of the financial worries of your family in case of your death. It also covers against terminal illness and disability and comes with special benefits for women. You can choose the level of protection under iProtect Smart at the time of entry. Minimum entry age is 18 years. Maximum entry age is 65 years. Mode of premium payment is Single, yearly, half-yearly, and monthly. 

3. 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. Minimum entry age is 18 years. Maximum entry age is 55 years. Maturity age is 70 years. Tax benefits under Section 80C will be applicable.

3. PNB MetLife Mera Plan

Mera Plan, as the name suggests, is a tailor made life insurance cover that offers 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. Minimum entry age is 18 years. Maximum entry age is 65 years. Age at maturity is 75 years. Policy term is 10 years to 40 years. 

4. 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 every 5 years during the term. Policyholders can also avail loan facilities under LIC’s Jeevan Pragati Plan. Minimum entry age is 12 years. Maximum entry age is 45 years. Policy term is 12 to 20 years. Premium payment can be done Yearly, half-yearly, quarterly, and monthly. 

5. Future Generali Care Plus

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. Minimum entry age is 18 years. Maximum entry age is 60 years. Maximum coverage age is 65 years. Premium can be paid Yearly, half-yearly, quarterly, and monthly.

6. 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 meetings, you can apply for the plan with just a click. Cover options under the eShield plan are: Level Cover, Level Cover with Accidental Benefit, Increasing Cover, Increasing Cover with Accidental Benefit. Maximum age at entry is    65 years for both Level Cover and Level Cover with Accidental Death Benefit and 60 years for Increasing Cover and Increasing Cover with Accidental Death Benefit. Minimum age at entry is 18 years. 

Take Away

For a long time, insurance has been associated with death and how you can leave something behind for your loved ones. People are however less aware about the benefits of insurance that extend beyond death benefit or maturity benefit. There are multiple forms of insurance policies that people can purchase to secure their family members, loved ones, and also their health and future.

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.   

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