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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 Policies in 2018

Top 10 Life Insurance Plans in India 2016 Reviews

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  • Bajaj Allianz Life Life Insurance
    "Safe plan for future"
    0.5 5.0/5 "Blown Away!"
    I have life insurance with Bajaj Allianz, I used to pay Rs. 12,000 for one year policy, it has the tenure of 40 years, Its a totally term plan for the value of 1 crore, they give lump sump amount to the nominees, the claim ratio is good and also terminal waiver on premium.
    Was this review helpful? 0
    , pune
    Reviewed on Dec 14, 2018
  • SBI Life Life Insurance
    "Best ULIP Policy"
    0.5 5.0/5 "Blown Away!"
    I have purchased a market based policy 2 years ago. I have chosen SBI LIFE because it was suggested by my friend. I pay the premium amount of Rs. 10000. I make the premium through online. The growth was pretty good and tenure period of the policy is 10 years.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Best policy in LIC"
    0.5 5.0/5 "Blown Away!"
    My money back policy was taken with LIFE INSURANCE OF INDIA. I pay the premium amount of Rs. 5000 in a month. I have selected LIC because of the returns. I make the premium through ECS. Total tenure period of the policy is 25 years. My friend has referred me about this policy
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Good LIC policy"
    0.5 5.0/5 "Blown Away!"
    I'm just paying the premium and i have never get the sum assured amount and i will get it after 25 years of tenure period. I'm making the premium through ECS. I pay the premium amount of Rs. 5000 every month. I will get a coverage value of Rs. 1.27 Cr.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 14, 2018
  • Bharti Axa Life Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    I have taken life insurance from the Bharti Axa life as it has good returns i make the payment through on-line banking annually . This policy covers accidental and critical illness benefits with the tenure period of 15 years . Overall am satisfied with my policy .
    Was this review helpful? 0
    , faridabad
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Useful policy"
    0.5 4.0/5 "Great!"
    In the month of February, i have purchased a money back policy from Life Insurance corporation of India. I pay the premium amount of Rs. 15000. Last time i have paid the payment through cheque and in future i make through online. One of sister who is working as a LIC agent has referred this policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Useful policy"
    0.5 4.0/5 "Great!"
    I have purchased a term insurance policy 1.5 years back. There is no particular reason for choosing the LIC. I pay the premium amount of Rs. 26000 and i have chosen the annual payment mode. Sum assured amount was Rs. 70 lakhs. Total tenure period of the policy upto 70 years of my age.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    I have a life insurance policy with LIC from last 4 years and it is a long term policy. I pay my premium once in 6 months through direct payment and i am convenient with the payment options. Tenure period for this policy is 18-20 years. The returns and benefits are good in this policy.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "GOOD SERVICE"
    0.5 5.0/5 "Blown Away!"
    I have purchased the life insurance policy with the LIFE INSURANCE CORPORATION OF INDIA where the name of the policy is ENDOWMENT PLAN and i am using it from past 10 years. The maturity period of this policy is till 67 years of my age. This gives the policy coverage of 4 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Good Policy with Life Coverage"
    0.5 5.0/5 "Blown Away!"
    I have agent who coordinate with me for my life insurance, they are responding well, the customer support is good, they have different payment options. The policy name called Jeevan labh its for 15 years I get the benefits as lump sum amount with life cover.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with Life insurance corporation of India,the agent had clearly explain me about the policy coverage, plan benefits etc, there premium amount they have charged me was nominal,they charged in quarterly basis,overall service is good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 13, 2018
  • HDFC Life Life Insurance
    "Fine policy for emergency purpose"
    0.5 5.0/5 "Blown Away!"
    Along with my personal loan they have provided me a life insurance policy from HDFC LIFE. I have to pay the premium amount of Rs. 6000 in a year. I used to pay the premium through online. Total tenure period of the policy is 4 years. I'm getting a sum assured amount of Rs. 3 lakhs.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Dec 13, 2018
  • SBI Life Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    I took this Life insurance from Sbi life mainly because of the good returns. The payment am doing through online every year through online payments . The best about the policy is it covers accidental coverage and critical illness There customer service and customer response is also good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    Based on the benefits and returns i have chosen this life insurance corporation of India . I am satisfied with the amount which am making for the policy . Am making the payment yearly through online . This policy cover accidental benefits . Overall am happy with it.
    Was this review helpful? 0
    , faridabad
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    I have purchased a life insurance policy in my wife's name. 5 years back i have bought the Jeevan saral policy with Life Insurance Corporation of India. Since its a better company, i have selected the LIC. I pay the premium amount of Rs. 5400. Its a long term policy. I have selected the annual payment mode.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Best Service"
    0.5 5.0/5 "Blown Away!"
    I am using LIC using thee policies same policies life insurance coverage and two more different policies i am never contact customer Service for everything contact with agent only Responsiveness very good , Promised Interest Rate is less in LIC but trust worthy , Fees & Charges is use to pay by agent only. Hence i can give rating 5 for best service
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Dec 13, 2018
  • IDBI Federal Life Insurance
    "Very Good"
    0.5 4.5/5 "Excellent!"
    IDBI Life cover policy for my children there is more benefits in this policy i have to pay 30k every year after his age of 16 partially amount will received for his education after few years for marriage and in risk factor also amount will provide once terms will complete total Amount will be received in 3 terms for this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Very good"
    0.5 4.5/5 "Excellent!"
    I am using Life Insurance policy and need payment in six month once i am happy with LIC insurance policy . Since long time i am using Life cover policy so i am only trust to LIC for Life insurance payment is made in cheque and sometimes in cash which one collected by agent for service i can give rating 4.5 very good service.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 13, 2018
  • HDFC Life Life Insurance
    "Every salary holder must taken this policy"
    0.5 4.0/5 "Great!"
    I have purchased the HDFC accidental policy nearly 4 years before. I have been paying the premium amount of Rs. 80000. I used to make the premium through my credit card and i covert into EMI basis. This is annual payment mode policy. This policy has coverage value of Rs. 15 lakhs and all my member covered in this policy
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Good policy in LIC"
    0.5 4.5/5 "Excellent!"
    Since its a Government undertaken i have selected Life Insurance corporation of India for my life insurance policy. One of my agent who referred me about the Jeevan Anand policy. I had purchased this policy in 2013. I used to make the premium amount of Rs. 30000 and i have selected the yearly payment mode. The policy will get over by 2033.
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 13, 2018
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