Top 5 Life Insurance Plans in India

Let us take a look at the top 5 life insurance plans in India that you can purchase to secure your future.

What are the Top 5 Life Insurance Plans in India in 2024?

Here is a list of all the best life insurance plans in India that you can purchase in 2024

Features and Eligibility Criteria of the Top 5 Life Insurance Plans In India

There are various benefits of life insurance plans that you can avail of by buying a life insurance policy. Let us take a detailed look into the features and eligibility criteria of the top 5 life insurance plans in India 

1. Max Life Smart Secure Plus

   • Plan offers a Premium Break feature that allows you to skip paying premiums for a year and still stay covered under the policy benefits

   • You can choose to select the term return of premium option through which you will receive all the premiums paid, back at the end of the policy term

   • With special exit value inbuilt in the plan, you can exit the policy at a specific stage and receive all the premiums paid until that point back

   • You can select from two sum assured options: Life Cover and Increasing Life Cover

   • Inbuilt terminal illness included in the plan at no extra premiums

2. Bajaj Allianz eTouch

   • Get coverage under the plan for terminal illnesses, death, and disability

   • You can pay the premiums for a limited, regular, or single premium payment term

   • With the premium holiday skip premium payment for 1,2, or 3 years

   • Select the Life Shield ROP variant to receive your premiums back as maturity benefit

   • Extra payout will be payable in case of death due to accidents specified in the plan

3. Tata AIA SRS Vitality Protect

   • Get 5% guaranteed discount on the premiums for the 1st year

   • The Tata AIA SRS Vitality Protect plan comes with an inbuilt wellness program

   • You can choose from term or term return of premium option of the plan

   • You will also be eligible to receive a free health check-up each year with their wellness program

   • Get Renewal Premium Discount and Cover Boosters up to 15% depending on your wellness status as per the plan

4. ICICI Prudential iProtect Smart

   • The plan offers enhanced protection against death, terminal illnesses, and disabilities

   • You can add the Accelerated Critical Illness Benefit Rider and Accidental Death Benefit Rider in the base plan to increase its coverage

   • The plan offers special premium rates for women and non-tobacco users.

   • You can choose to receive the benefit amount in a single lump sum or monthly income for 10 years or have a combination of both

   • You can pay the premiums in single, regular, or limited premium payment term

5. HDFC Life Click 2 Protect Super

   • You can choose from 3 life cover options as per your needs

   • With the Return of premium option, you can receive all the premiums paid back at the end of the policy

   • You can choose to have your family receive the death benefit in installments

   • You can pay the premiums on a monthly, quarterly, or bi-annual basis

   • The Increasing Death Benefit option increases life cover upto 200% under the life option

How Should You Choose the Best Life Insurance Plan In 2024?

Here is a list of all the factors you should consider before buying the best life insurance plans in India:

• Go through the list of life insurance companies in India and check their Claim Settlement Ratio (CSR) values. It is advised to purchase a life insurance plan from a company with a CSR value of more than 95% as the company might have a better chance of settling your claim.

• Determine the right life insurance coverage that is large enough to cover your family financially in your absence.

• Understand the importance of life insurance plans by going through the types and benefits of different life insurance policies.

• Add riders to the base plan to customize and enhance the coverage of the best life insurance plan.

• Check the T&Cs of the plan, inclusions, and exclusions, and go through the customer reviews.

• Compare term plans and life insurance quotes for the top 5 life insurance plans in India online before purchasing the best life insurance plans in India. 

Note: Know what is term life policy first and then buy a term plan for your loved ones.

Note: It is suggested to calculate the term plan premium on the term plan calculator online tool by Policybazaar before buying.

How To Buy the Best Life Insurance Plans in India?

You can follow the steps below to purchase the best life insurance plan in 2024:

• Step 1: Go to the life insurance plan page and fill in the required information like name, date of birth, phone number, and gender.

• Step 2: Answer the questions about your occupation type, yearly income, educational qualifications, and smoking habits.

• Step 3: Select the most suitable plan and proceed to pay

Note: Check out the best term insurance policy in India and choose one that suits your requirements.

Note: You should also check the benefits of term insurance if you are planning to purchase the term insurance plan.