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Top 10 Life Insurance Plans in India

These days, life insurance plans are considered as one of the major pillars of financial planning. A life insurance policy not only provides financial protection to the family in case of an eventuality but also works as a long-term investment option to achieve the financial objectives of life. However, with an extensive range of insurance policies available in the market, choosing the best life insurance policy which fulfils all your requirements is always a tricky task to do. Thus, it is imperative to compare various plans online and make sure that the plan you choose offers all the benefits.

To help you choose the best insurance policy, here we have listed the top 10 life insurance plans in India to invest.

Plan Name

Entry Age

Maturity Age

Sum Assured

Premium payment options

Tax Benefit

ICICI Prudential  iProtect Smart

18 years-65 years

70 years

Subject to the minimum premium paid

Single pay,  regular pay and limited pay

Offers tax benefit U/S 80C of IT Act.

HDFC Life 3D Plus Life Option

18 years-65 years

23 years-85 years

Min- Rs.50 Lakhs

For Return of Premium(ROI)- Rs.25 lakh

Max- No upper limit

Single pay, regular pay and limited pay

Offers tax benefit U/S 80C of IT Act.

 Max Life Online Term Plan Plus

18 years-60 years

85 years

Min-Rs.25 lakh

Max-1 Crores

Regular Pay or Pay till the age of 60

Offers tax benefit U/S 80C & 10(10D) of IT Act.

SBI Life eShield

18 years- 65 years(Level Cover) 60 years(Increasing Level Cover)

Level Cover- 80 years

Increasing Level Cover-75 years

Min- Rs.35 lakhs

Max-no upper limit

Equal to the policy term

Offers tax benefit U/S 80C & 10(10D) of IT Act.

Aviva i-Life

18 years- 55 years

75 years

Min-Rs.25lakh

Max-No upper limit

Equal to the policy term

Offers tax benefit U/S 80C of IT Act.

PNB MetLife Mera Term Plan

18 years-65 years

75 years, 99 years

Min- Rs.10 lakh

Max- Np upper Limit

Equal to the policy term

Offers tax benefit U/S 80C of IT Act.

Kotak eTerm Plan

18 years-65 years

75 years

Min-Rs.25 lakh

Single pay, regular pay and limited pay

Offers tax benefit U/S 80C & 10(10D) of IT Act.

Bajaj Allianz Life Smart Protect Goal

18 years-65 years

With ROP-75 years

Without ROP-80 years

Min-Rs.50 lakh

Max- No upper Limit

Single pay, regular pay and limited pay

Offers tax benefit U/S 80C & 10(10D) of IT Act.

IDBI iSurance Flexi Lump-sum Plan

18 years-60 years

80 years

Min-50 Lakh

Max-No upper Limit

Regular pay

Offers tax benefit U/S 80C of IT Act

Aegon Life iTerm Plan

18 years-65 years

80 years

Min- Rs.25 Lakh

Max- no upper limit

Equal to the policy term

Offers tax benefit U/S 80C of IT Act

Let’s take a look at these plans in details.

ICICI Prudential iProtect Smart-

This is an enhanced life insurance policy, which offers comprehensive coverage to the family of the insured in case of an eventuality and protect their financial future. The plan comes with four different types of payout options. Let’s take a look at the features of this best life insurance policy in details.

Salient Features of ICICI Prudential iProtect Smart

  1. The Plan offers a maximum policy term up to the age of 8 years.
  2. The insured can choose from 4 different types of payout options.
  3. The plan offers lower premium rates for women policy buyers.
  4. Tax benefit can be availed up to the maximum limit of Rs.1.5 lakhs on the premium paid towards the policy and the claim made U/S 80C and 10(10D) of IT Act.
  5. The plan offers add-on rider benefits like accidental death benefit rider and critical illness rider to enhance the coverage of the policy.

HDFC Life 3D Plus Life Option-

As one of the best life insurance policy in India, HDFC Life Click 2 Protect 3D Plus is a comprehensive term insurance plan which can be purchased online. The 3D in plan refers to the three different uncertainties i.e. disease, disability and death. The plan safeguards the financial future of the family at an affordable premium rate. Following are the salient features of the plan.

Salient Features of HDFC Life 3D Plus Life.

  1. The policy buyers can choose from the 9 different plan options offered by the policy.
  2. The plan offers the flexibility to choose different policy terms and premium payment terms.
  3. Through the option of top-up, the plan offers the flexibility to increase the cover every year.
  4. Policy discounts are offered to female policy buyers.
  5. Tax benefit can be availed U/S 80C and 10(10D) of the Income Tax Act.
  6. The life stage protection feature offers the option to increase the basic sum assured amount on certain key milestones of life without medicals.

Max Life Online Term Plan Plus-

This is an online life insurance plan, which provides comprehensive coverage to the family of the insured at an affordable premium rate. The plan works as a pure term plan, which comes with many different variants. Let’s take a look at the salient features of the policy.

Features of Max Life Online Term Plan Plus

  1. The plan offers a simple and hassle-free process of online policy purchase.
  2. Max life online term plan plus offers insurance coverage up to maximum Rs.1.crore at just Rs.563 per month.
  3. The policy offers 3 different variants of plan options to choose from.
  4. The policyholder can choose to add rider benefits to the policy to enhance the coverage of the policy.
  5. The plan offers comprehensive protection against death dismemberment and critical illness.

SBI Life eShield Plan-

Another option of best life insurance plan is SBI Life shield plan. As a pure protection plan, it offers tailored benefit to the policyholder and provides financial security to the insured’s family in case of eventualities. Let’s take a look at the features of the policy.

Features of SBI Life eShield Plan

  • The policyholder can customize the plan as per their requirement by choosing from the 4 different protection variants.
  • Under the increasing cover option, the sum assured amount of the policy increases by 10% in completion of every 5 years of the policy.
  • The 4 different variants offered under the policy are:
    • Level cover
    • Level cover with accidental death benefit
    • Increasing cover
    • Increasing cover with accidental death benefit
  • The insured can save on taxes under section 80C and 10(10D) of the IT Act.
  • The plan offers discounts for non-smokers and female policy buyers.
  • The online process of policy purchase is very simple and hassle-free.

Aviva i-Life Plan-

Aviva i-life is one of the best life insurance plan, which offers a wide range of cover options to the insurance buyers. As a comprehensive life insurance plan, Aviva i-life financially safeguards the future of the family members in case of any eventuality.  Following are the features of the plan.

Features of Aviva i-Life Plan

  • The plan can be easily purchased online in a simple and hassle-free way.
  • The plan offers 4 different cover options to choose from.
    • Protect
    • Protect Plus
    • Protect Assured
    • Protect Income
  • The benefit of tax exemption can be availed under section 80C of IT Ac.
  • The plan offers an additional rebate of 5% for the female policy buyers.
  • Under the option of protect income, the insured can avail add-on benefit as critical illness and permanent total disability.

PNB Metlife Mera Term Plan-

This is a pure protection term plan, which offers comprehensive cover to the family of the insured. As one of the best insurance policy available in the market, this plan is best suitable for individuals who want to secure the future of their loved ones at an affordable premium rate. let’s take a look at the salient features of the plan.

Salient Features of PNB Metlife Mera Term Plan

  1. The plan offers the option of joint life, where the spouse is covered in the same policy.
  2. The maximum tenure of the policy maturity is 99 years.
  3. The plan provides financial freedom for your children to pursue their career dream and goals.
  4. Tax benefit can be availed under section 80C and 10(10D) of the Income-tax Act.

Kotak eTerm Plan-

This is an online term plan offered by Kotak Life Insurance. The plan provides comprehensive coverage to the family of the insured in case of any eventuality. let’s take a look at some of the salient features of the plan.

Features of Kotak eTerm Plan

  • As kotak eTerm is a pure term plan, it offers an only death benefit.
  • The plan offers different payout options to choose from
    • Immediate payout
    • Level recurring payout
    • Increasing payout
  • The policy offers different premium payment options i.e regular, limited and single to choose from.
  • As per one’s requirement and suitability, the policy buyers can choose from multiple plan options offered by the policy.
  • The different plan options offered by the policy are:
    • Life option
    • Life plus option
    • Life secure option

Bajaj Allianz Life Smart Protect Goal-

As one of the best life insurance policy, Bajaj Allianz Life Smart Protect Goal not only provides financial protection to the insured's family but also help to achieve the financial objectives of life. Let’s take a look at the features of the policy.

Salient Features of Bajaj Allianz Life Smart Protect Goal

  • The policy offers comprehensive coverage with a host of features.
  • The plan offers 4 different variants of cover options to choose from. These are:
    • Life cover
    • Life cover with child education extra cover
    • Life cover with a joint life
    • Increasing life cover
  • The insurance buyers can also choose the option of Return of Premium (ROP) under the policy.
  • Add-on rider benefits can be availed to enhance the coverage of the policy.
  • The policyholder can save on taxes under section 80C and 10(10D) of the IT Act.
  • The policy offers the flexibility to choose various premium payment options i.e single, limited or regular premium payment.

IDBI iSurance Flexi Lump-sum Plan-

This is a comprehensive life insurance policy, which safeguards the financial future of the insured’s family and takes care of the liabilities in case of any eventuality. Here are some of the salient features of the policy.

Salient Features of IDBI iSurance Flexi Lump-Sum Plan

  • The plan offers 4 different variants of cover options to choose from. These are:
    • Lump-sum with conversion option
    • Fixed monthly income benefit
    • Lump-sum + Fixed monthly income benefit
    • Lump-sum + Increasing monthly income benefit
  • Add-on rider benefits can be availed to enhance the coverage of the policy.
  • The maximum maturity age of the policy is 80 years.
  • Tax exemption can be availed under section 80C of IT Act.

Aegon Life iTerm Plus Plan-

This is a comprehensive insurance plan, which can be purchased online at an affordable premium rate. The plan comes with in-built rider benefits like accidental death and critical illness rider. Following are the features of Aegon Life iTerm Plus Plan.

Features of Aegon Life iTerm Plus Plan

  • The plan offers 4 different variants of cover options to choose from. These are:
    • Life benefit option
    • Life plus benefit option
    • Life & health benefit option
    • Life & health plus benefit option
  • The maximum maturity age of the policy is 80 years.
  • Tax exemption can be availed under section 80C of IT Act.
  • The plan comes with in-built rider benefits like accidental death and critical illness rider.
  • The plan offers the option to choose coverage for 10 basic critical illnesses and 36 enhanced critical illnesses.

Wrapping it Up!

These top life insurance plans offered by the insurance company to cater to the needs of the insurance seekers. Moreover, according to your own choice you can choose the policy online and buy the policy is easy and hassle free-way.

Other than the above-mentioned life insurance policies, there many other plans available in the market. Make your choice and pick a company that offers services to your best likings.

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