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Life Insurance Plans Available in India

Updated On Jun 07, 2021

With the current scenario life insurance acts as an essential investment tool in financial planning for a secured future. A traditional life insurance policy provides a death benefit to the family of the policyholder in the event of the policyholder's death. However, with numerous options available in the life insurance sector and with various insurance companies competing with each other, choosing the best suited life insurance for yourself can be a problematic decision. That being so, it is very necessary to choose the right life insurance plan.

Top Life Insurance Plans In India 

To help you identify and choose a right life insurance plan, here is the list of some of the top life insurance plan that we have listed:

Bharti AXA Life Monthly Advantage

With Bharti AXA Life Monthly Advantage plan you receive a steady income without staying invested for extended periods. This plan gives you the flexibility to choose your policy term and the premium payment term from three exciting options. Bharti AXA Life Monthly Advantage plan is devised to provide you with guaranteed monthly income at the time of survival or any unfortunate event such accidental disability or untimely death.

Features and benefits:

  • Availability of Maturity Benefits.
  • Availability of Annual Reversionary Bonuses.
  • Availability of Accidental Total Permanent Disability Benefit.
  • Availability of Accidental Death Benefit.
  • Availability of Bharti AXA Life Hospi Cash and Bharti AXA Life Term riders under this plan.
  • Flexibility to choose your own policy term.

Canara HSBC Invest Shield Plan

Canara HSBC Invest Shield plan is an endowment plan. This plan not only offers value on the money that you invest in this plan but also provides you with multiple protection options that you can choose from according to your requirements. You can choose from three plan options best provided under this plan that are best suited for you. Under the Canara HSBC Invest Shield plan you get the option to choose from a wide variety of investment options.

Features and benefits

  • Flexibility to customize your plan.
  • Availability of Multiple Investment Options
  • Availability of Maturity Benefits
  • Availability of Safety Switch Option
  • Availability of Partial Withdrawal

Edelweiss Tokio Life Simply Protect Plan

Edelweiss Tokio Life Simply Protect plan is a term insurance plan which offers you life cover and also offers financial protection at the time of any fortunate event. This plan come along with four different life cover option that you can choose from and those are Life Cover, Life Cover with Accidental Death Benefit, Life Cover with Waiver of Premiums on Accidental Total or Permanent Disability and Life Cover with Waiver of Premiums on diagnosis of any listed Critical Illness. 

Features and Benefits

  • Availability of Life Cover upto to the age 80
  • Availability of special premiums rates for females.
  • Flexibility to choose from four different life cover options
  • Flexibility to choose your own premium paying term.

Exide Life Income Advantage Plan

Exide Life Income Advantage plan offers you with life cover along with regular income to ensure you live a stress-free and financially protected life. This plan offers two options of income that you can choose according to your requirements, these options are Pure Income Benefit or Income with Maturity Benefit. Under this plan you can choose to enhance the coverage with availability of optional additional riders that are Exide Life Accidental Death, Disability and Dismemberment Rider, Exide Life Critical Illness Rider and Exide Life Term Rider.

Features and Benefits

  • Availability of availing Loan Against the Life Insurance Policy.
  • Availability of Critical Illness Benefit
  • Availability of Accidental Death Benefit
  • Availability of Accidental Disability and Dismemberment Benefit
  • Flexibility to choose from two income options

Future Generali Care Plus Plan

Future Generali Care Plus plan is a protection plan that promises to provide your family with financial protection in the event of your unforseen demise. This plan provides financial protection at an affordable price. Under this plan you can choose to opt for Future Generali Accidental Death Rider (Non-Linked). This plan has two policy options to choose from that are, Future Generali Care Plus Classic Option and Future Generali Care Plus Premier Option.

Features and Benefits

  • Availability of Sum Assured as Death Benefit
  • Availability of one additional Rider Benefit
  • Availability of Customisation of your plan. 

Kotak eTerm Plan

Kotak E-Term Plan is also a pure risk cover term plan that offers death benefit to the beneficiary if the life insured passes away. This plan provides multiple plan options such as Life Option, Life Plus Option and Life Secure Option. Kotak E-Term Plan also offers three payout options namely Immediate Payout, Level Recurring Payout and Increasing Recurring Payout.

Features and Benefits

  • Availability of special premium rates to non-smoker and non-tobacco users. 
  • Availability of Multiple Plan Options
  • Availability of three Payout Options
  • Availability of Critical Illness Benefit
  • Availability of Permanent Disability Benefit

HDFC Life Click 2 Protect 3D Plus

HDFC Life Click 2 Protect 3D Plus plan is an online term insurance plan that provides financial security at the time when three unforeseen events take place such as diseases, disability or death. 3D in the name of this plan stands for Death, Disability and Diseases. HDFC Life Click 2 Protect 3D Plus waives all the future premiums on the account of Accidental Total Permanent Disability and on diagnosis of Critical Illness (listed under 3D Life and 3D Life-Long Protection Plus).

Features and Benefits

  • Availability of 9 Plan Options
  • Availability of Accidental Total Permanent Disability Benefit
  • Availability of Critical Illness Benefit
  • Availability of Top-Up Option
  • Availability of special premium rates for non-tobacco consumers.
  • Availability of special premium rates for females
  • Flexibility to choose your own policy term and premium paying term

Max Life Online Term Plan Plus

Max Life Online Term Plan Plus offers life cover and promises to provide financial support to your family in your absence in case of an unfortunate event. This plan offers three different payout options that are One Time Lump Sum, Lump Sum with Monthly Income and Lump Sum with Increasing Monthly Income. Under this plan you get an option to opt from one of the optional riders available that are Max Life Comprehensive Accidental Death Benefit Rider and Max Life Waiver of Premium Plus Rider.

Features and Benefits

 

  • Availability of 3 Payout Options
  • Availability of special premium rates for non-tobacco consumers
  • Availability of Critical Illness Benefit
  • Availability of Life Cover upto 85 years of Age
  • Availability of Accidental Death and Dismemberment Benefit.

Reliance Nippon Life Online Income Protect Plan

Reliance Nippon Life Online Income Protect plan promises to not only provide a lump sum amount payment in case of emergencies but also promises to provide your family with a monthly income in your absence to ensure they maintain a healthy and stress-free lifestyle. Under this plan you can choose to enhance the coverage by opting for optional additional riders available under this rider.

Features and Benefits

  • Availability of Reliance Life Nippon Accidental Death Benefit Rider
  • Availability of Reliance Life Nippon Accidental Death and Disability Rider
  • Availability of Reliance Life Nippon Accidental Death and Disability Plus Rider

Sahara Sanchit Jeevan Bima Plan

Sahara Sanchit Jeevan Bima plan is a single premium payment plan that offers you to invest your money in the investment instruments available in the market by paying regular premiums. You can opt from 5 different investment options.

Features and Benefits

  • Availability of 5 Investment Instruments Options
  • Availability of Accidental Total and Permanent Disability Benefit Rider

Also read 

Choosing Right Life Insurance Plan

Why Is It Beneficial To Buy Life Insurance In Your 20s?

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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