Traditional Plans in India

In today’s day and age, maintaining financial stability has become quite difficult for most of the individuals. Understanding the requirement of financial stability in an individual’s life, the insurance companies have come up with guaranteed income plans. The guaranteed income plans are specifically designed to cater to the requirements of the risk-averse investors and offers them the benefit of life insurance along with maturity benefits and regular guaranteed payouts. The guaranteed income plan offers financial security by providing regular income at a pre-defined percentage (selected by insured and insurer) of Sum Assured. The USP of the plan is that one can receive the income yearly, half-yearly, quarterly or monthly. This innovative insurance product is a traditional plan that comes with bonus facility, where the insurance holders are not required to worry about the ups and downs of market; rather they get to enjoy the maximized returns.

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  • Save upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

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invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Best Traditional Plans in India

Plan Name Plan Type Entry Age Age Policy Term
Aegon Life Term Plan Term Plan 20 - 65 years 75 years 10 - 75 years minus age at entry
Aviva Dhan Samriddhi Money Back Plan 13-55 years 23-70 years 10,15 & 20 years
Aviva i-Life Plan Term Plan 18 - 55 years 70 years 10 - 35 years
Bajaj Allianz Save Assure Endowment plan 1-60 years 18-75 years 15/17 years
Bharti AXA Aajeevan Sampatti + Endowment Plan 91 days-60 years 100/85 years 100/85 years
Birla Sun Life Vision Endowment Plan Endowment Plan 1-55 years N/A 20 years
Canara HSBC OBC Smart Stage MoneyBack Plan Money Back Plan 8 - 55 years 70 years 15 years
Canara Smart Monthly Income Plan Monthly Income Plan 18 years-55 years 43-80 years 25 years
Edelweiss Tokio Guaranteed Income Plan Endowment Plan 3-50 years 18-65 years 15 years
Exide Life Guaranteed Wealth Plus Guaranteed Plan 18-60 years

Lumpsum Variant: 75

Income Variant: 97

Lumpsum Variant: 12 or 15

Income Variant: 37

Future Generali Assure Plus Endowment Plan 3-55 years 18 years-70 years 15-20 years/25 years
HDFC Life Click2Protect  Plus Term Plan 18 - 65 years 28 - 75 years 10 - 40 years
HDFC Life Sampoorn Samriddhi Plus Plan Endowment Plan 30 - 60 years 18 - 75 years 15 - 40 years
HDFC Life Sanchay Plan Endowment Plan 30 days - 45 Years 18 - 70 years 15 - 25 years
ICICI Prudential Cash Advantage Money Back Plan 0 - 60 years 18 - 80 years 15 - 20 years
IDBI Federal Incomesurance Guraanteed Money Back Insurance Money Back Plan 18 -55 years 65 years 10 years
India First Maha Jeevan Plan Endowment Plan 5-55 years 20-70 years 15-25 years
Kotak Assure Income Accelerator Plan Endowment Plan 0-60 years 18-85 years 15,20 or 30 years
Max Life Guaranteed Monthly Income Plan Money Back Plan 25 - 65 years 71 years 6 - 11 years
PNB Metlife Money Back Plan Money Back Plan 13-55 years 65 years 10 years
Pramerica Life Magnum Assure Plan Endowment Plan 18-55/50 years 65 years 10 years & 15 years
Reliance Life Super Money Back Plan Money Back Plan 18-55 years 28-80 years 10,20,30,40-50 years
Sahara Life Dhan Sanchay Jeevan Bima Endowment plan 14-50 years 70 years 15-40 years
SBI Life - Saral Shield Term Plan 18 - 60 years 65years 5 - 30 years
SBI Life Smart Money Back Gold Plan Money Back Plan 4 - 25 years 26 - 70 years 12 - 25 years
SBI Life Smart Money Planner Traditional Savings Plan 18-60 years 75 years 15-25 years
Shriram New Shri Life Plan Endowment Plan 30days-65 years 18-75 years 10-25 years
Star Union Da-ichi’s Guaranteed Money Back Plan Money Back Plan 13-50 years 60,65 & 70 years 10,15 & 20 years
Tata AIA Life Insurance Secure 7 plan Endowment Plan 18-55 years 69 years 14 years
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Disclaimer: Policybazaar does not rate, endorse or recommend any specific insurance provider or insurance product offered by any insurer.


Guaranteed Income Plans are designed for salaried people who fall in the age bracket of 18-60 years and policy term for them extends from 10 years to 30 years.


  • It is a variant of life Insurance plan that offers regular income for a specified term varying from 10-30 years.
  • Offers vested reversionary bonus along with terminal bonus, if any, at the time of maturity.
  • Provides death benefits as well as maturity benefits.
  • Provides the benefit of tax exemption.
  • Policy term varies from 10-30 years.

Benefits of Guaranteed Income Plans

  • Maturity Benefit

    At the time of maturity, the life insured receives the simple reversionary bonus along with terminal bonus, if any. In case, the payout period is approximately 15 years, then the insured is paid the regular amount which is pre-defined percentage of sum assured.

  • Death benefit

    In case of unfortunate event of death of the insured during premium paying term, the nominee of the policy receives the basic sum assured amount along with the reversionary bonuses and terminal bonus, if any. And, the payouts are carried for the next 15 years or as mentioned in the policy. In case of demise of the insured after premium paying term or during the payout period, the nominee receives the sum assured amount along with the other benefits.

  • Income Tax Benefits

    Tax deduction under Section 80(C) is available every year and tax exemption under Section 10(10D) is available on the maturity proceeds, subjected to the terms and conditions.

  • Additional Rider

    The traditional plan comes with an inbuilt rider i.e. Accidental Death Benefit Rider.

    There are some traditional insurance plans, which offer fully guaranteed returns, whereas the other plans offer partially guaranteed returns. The products available at Policybazaar are fully guaranteed in nature. In the below mentioned table we have shown a comparison that indicates the rate of return for few traditional products, which is computed at a sample modal point. In this table different plans have different pay terms and policy terms and can be suitable for different needs. Thus, this table is only for the purpose of illustration.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Here is how the rate of return of Sanchay Plus product have reduced over last few months due to declining interest rate regime in India

Date Sanchay Plus Guaranteed Income
  Premium Payment Term:10 years Premium Payment Term:12 years
Aug' 2019 200% of Annualised Premium 225% of Annualised Premium
Dec'2019 195% of Annualised Premium 217% of Annualised Premium
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