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  • Top 10 Life Insurance Plans in 2016

    Life insurance policy is something every individual should invest in. Life insurance policy ensures that your family doesn’t have to suffer in case something unfortunate should happen to you. There is a wide range of life insurance products available in the market, each with its own set of features and benefits. Choosing the right product can be difficult considering the array of options. So given below is a list of top ten insurance policies for the year 2016 to narrow down your choices to only the best.

    Top Life Insurance Plans in India Comparison Chart 2016

    Plan Names Plan Type Plan Mode Entry Age Min/Max Policy Term Min/Max Bonus Yes/No Sum Assured (INR) Min/Max
    HDFC Life Click2Protect Plus Term Online 18 years to 65 years 10 years to 40 years No Minimum- Rs.25 lakh Maximum- No limit
    PNB MetLife Mera Term Plan Term Online 18 years to 65 years 10 years to 40 years No Minimum- Rs.10 lakh Maximum- No limit
    HDFC Life Click2Invest ULIP Online 30 days to 65 years 5 years to 20 years No 125% of the single premium 10 times the annual premium
    Aegon Life iTerm Plan Term Online 18 years to 65 years 5 years to 40 year or up to 75 years No Minimum- Rs.10 lakh Maximum- No limit
    LIC New Jeevan Anand Endowment Offline 18 years to 50 years 15 years to 35 years No Minimum- Rs.1 lakh Maximum- No limit
    SBI Life Shubh Nivesh Endowment Offline 18 years to 60 years 7 years to 30 years No Minimum- Rs.75,000 Maximum- No limit
    SBI Life Saral Pension Pension Offline 18 years to 65 years 5 years to 40 years Yes Minimum- Rs.1 lakh Maximum- No limit
    LIC New Jeevan Nidhi Pension Offline 20 years to 60 years 5 years to 35 years No Minimum- Rs.1 lakh Maximum- No limit
    ICICI Prudential Wealth Builder II ULIP Offline 0 years to 69 years 10 years No Minimum- Rs.48,000 Maximum- No limit
    Bajaj Allianz Cash Secure Endowment Offline 1 year to 60 years 15, 17 years No Minimum- Rs.1 lakh Maximum- No limit

    1. HDFC Life Click2Protect Plus:

    It is an online term insurance plan in India which provides adequate protection at a nominal cost. The insurance policy provides a wide range of cover options

    Features and benefits:

    • The plan offers comprehensive coverage at a nominal cost
    • It is an online term insurance policy
    • It offers four cover options
    • Flexibility to choose policy term between 10 to 40 years
    • Option of regular, limited and single premium

    2. PNB MetLife Mera Term Plan:

    It is a customisable insurance plan that gives flexibility in selecting from four payout options.

    Features and benefits:

    • The plan offers comprehensive coverage at a nominal cost
    • It is an offline term insurance policy
    • It offers four payout options
    • Offers the option of increasing life cover
    • Hassle free application process

    3. HDFC Life Click2Invest:

    HDFC Click2Invest is an online ULIP plan that offers protection and lets you build on your savings at the same time.

    Features and benefits:

    • Zero charge structure
    • The plan offers 8 options to choose from
    • Offers single, limited and regular premium payment option
    • Flexibility to choose from a policy term of 5 to 20 years

    4. Aegon Life iTerm Plan:

    It is an online insurance policy that offers high cover at a low cost. The plan offers life cover till the age of 75 years

    Features and benefits:

    • It is an online insurance policy
    • Offers five types of additional riders
    • Option to choose between policy term of 5 to 75 years
    • Hassle free application process

    5. LIC New Jeevan Anand:

    LIC Jeevan Anand is an insurance policy offered by Life Insurance Corporation. This plan comes with two types of riders including accidental death rider and disability rider.

    Features and benefits:

    • It is an offline insurance policy
    • Offers two types of optional riders
    • Option to choose between policy term of 15 to 35 years
    • Hassle free application process

    6. SBI Life Shubh Nivesh:

    It is a non linked, profit endowment insurance policy which offers the option of whole life cover.

    Features and benefits:

    • The policy offers the option of whole life cover
    • Offers benefits such as wealth creation, insurance cover and regular flow of income
    • Offers three types of riders
    • Option to choose between policy term of 7 years to 30 years
    • Option of single premium payment and regular premium payment

    7. SBI Life Saral Pension:

    It is a non linked, traditional plan that keeps you protected and offers tax benefits.

    Features and benefits:

    • It is an insurance cum pension policy
    • Offers tax benefits
    • Option to choose between policy term of 5 to 75 years
    • Offers guaranteed bonus

    8. LIC New Jeevan Nidhi:

    It is a traditional insurance policy which also offers pension benefits.

    Features and benefits:

    • Traditional insurance policy that also offers pension benefits
    • Premiums can be paid yearly, half yearly, quarterly or monthly
    • No loan will be granted against the policy
    • Flexibility to choose from a policy term of 5 years to 35 years

    9. ICICI Prudential Wealth Builder II:

    It is a savings and protection oriented insurance plan. It is a unit linked insurance plan.

    Features and benefits:

    • Allows the insured to save and stay protected simultaneously
    • Single premium payment policy
    • Offers tax benefits
    • Multiple fund options

    10. Bajaj Allianz Cash Secure:

    It is a traditional money back insurance policy that offers various benefits.

    Features and benefits:

    • Traditional money back policy
    • Offers a choice of up to 4 policy terms
    • Shorter premium payment term
    • Special rates for female policyholders

    You may also check: Top 10 Life Insurance Plans in 2015

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