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  • Survival Benefits For Different Term Life Insurance Plans

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    What is Term Insurance?

    Term insurance refers to those life insurance policies that provide coverage for a specific period of time. Since protection is offered for a predetermined a period of time or term, these policies are known as term insurance plans. In case a policyholder holder or the insured individual dies within the time frame mentioned in a term insurance policy, the policy would death benefits to select nominees, provided the policy is in force.Term insurance plans make sure that designated nominees receive a lump sum amount or the sum assured following the unfortunate death of life insured. Term insurance policies provide high coverage at affordable rates.

    Survival Benefits

    Survival benefit is the amount a policyholder receives at the end of a policy term. In case, you survive till the end of your policy and the policy is active, it will take care of your financial needs by offering survival benefits. Survival benefits may include the followings:

    • Your accrued bonuses.

    • Returns on investment.

    • Total the sum assured.

    Term Insurance with Survival Benefits

    Recently, the Indian Insurance industry has started offering survival/maturity benefits along with term insurance plans. Initially, the tem insurance plans provided no survival benefits, even if the policyholder survives till the end of term. This seems to be a major drawback of these term insurance policies, because people get upset for not receiving their money back upon survivals. So, in order to benefit the term insurance buyers most and remove this drawback, many life insurance companies in India have started introducing term insurance plans with survival benefits or money back benefits.

    Top term insurance plans offering survival benefits in India

    Listed below are some of the popular term insurance policies that come with survival benefits:

    1. Aviva i Shield Plan: This is a non-linked non participating term life insurance plan with return of premium. Aviva i Shield Plan is an online plan and provides guaranteed money back benefits at maturity. The plan offers 110% of total premiums paid as survival benefits.

    2. Tata AIA Life Insurance iRaksha TROP: This is also an online term insurance plan with return of premium - a plan that will return all total premiums paid, provided the policyholder survives till the end of policy term

    3. Shriram Life Cash Back Term Plan: It is a non-linked and non-participating term life insurance plan with return of premiums at maturity.

    4. AEGON Life iReturn Insurance Plan: This is an online term insurance plan that returns you the premiums paid, provided the policyholder survives till the end of the policy term.

    5. ICICI Prudential Life Guard Return of Premium: The plan returns all the premiums you have paid so far, when the policy matures.

    Key features of Term Life Insurance plans with Survival Benefits

    The term insurance plans with survival benefits come with the following features:

    Free-look period

    • 15 days for manually purchased policy

    • 30 days for policies purchased online.

    Policy term

    Minimum- 5 years

    Maximum – 30-35 years

    Entry Age

    Minimum entry age:18 years

    Maximum entry age: 65 years

    Grace period

    15 to 30 days based upon policy modes.

    Plan type

    Term insurance provides flexibility in terms of choosing a plan. One can choose a plan on single life basis or joint life basis.

    Age at maturity

    25 year/ 65 years/ 75 years to whole life. It varies from policy to policy.

    Policy revival

    The policy can revived within the policy revival period.

    Premiums

    Based on sum assured and age of the applicant.

    Premium paying term

    Single pay, Limited pay and Regular pay.

    Nomination

    Nomination is accepted under term life insurance policies.

    Sum Assured

    Vary from policy to policy offered by various life insurance companies.

    Policy coverage

    Death benefits and maturity benefits.

    Benefits offered by Term Life Insurance plans with Survival Benefits

    The term insurance plans with survival benefits may offer the following benefits:

    • Death benefits: The designated nominee will death benefits following the death of policyholder. In case of unforeseen death of the policyholder, the term insurance plan will take care of his/her near and dear ones. Term insurance plans are of of utmost importance for the bread earner of a family to ensure protection to their dependents.

    • Tax benefits: The policyholder may receive tax benefits on the premiums paid for a term insurance plan as per section 80C of the Indian Income Tax Act, 1961.

    • Maturity benefits/survival benefits: If the life assured survives till the end of policy term, the policy will offer survival benefits.

    • Additional Optional Benefits: These plans come with additional optional benefits such as critical illness and accidental death/ disability coverage.

    • The term insurance policies offer insurance coverage at affordable rates.

    Thus, term Insurance plans are particularly designed to secure you and your family’s future against unforeseen occurrences. If something happens to the policyholder, his/her dependent would receive financial assistance. So, don’t hesitate! Get a term insurance plan and protect your family’s future.

    How to choose the best life insurance plan with survival benefits:

    Given that a number of life insurance companies have started offering term life insurance plans, a careful survey of the different plans available in the market would help you to choose the best plan appropriate for you. So, shop around and find the best term life insurance plan to ensure financial security to your near ones.

    Term Insurance Plan with Survival Benefits Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have take my life insurance policy from Life insurance corporation of India. The policy cover with all benefits like illness coverage, i use to pay my premium through credit card or debit card, i am happy with the benefit they have provide me i use to pay premium in every 4 quarterly month , i have been holding various different pocily in LIC.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • HDFC Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using the HDFC Life Insurance policy for a while. they charge nominal premium for this policy it also offers accidental benefits and I make payment at the branches. so in terms of features and their service it has been a good experience with them. HDFC Life is a recommendable insurance provider.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Future investment"
      0.5 4.0/5 "Great!"
      I have taken a life insurance policy through an agent many years back. It is a long term policy for 20 years. The policy coverage and the plan benefits are satisfactory. I am paying yearly 8,000 rupees through cheque. The payment mode is convenient. After maturity, I will be getting good return.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 16, 2018
    • Max Life Insurance
      "Necessary policy for any human being"
      0.5 4.0/5 "Great!"
      I have taken my term insurance with Max Life Insurance. I have opened this life insurance policy 2 months before and chosen the monthly payment mode. I pay the premium of 1190. They are providing the coverage value of Rs. 75 lakhs. They are covering the accidental benefits of 10 lakhs and partial disability benefits. I can able to utilize the policy upto 75 years.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I took a life insurance policy with LIC recently before 2 months. It is a Jeevan Slab policy. It was taken for future and tax benefits. They provided a proper service. The policy period is 10 years and the maturity value is more than 6L. The payment mode is cheque and gonna change to ECS. Am paying Rs.6500 quarterly.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance with LIC. It is a long term policy. The policy name is JEEVAN JOTHI and the tenure period is 20 years. The policy coverage is 45L and will get benefits as 40% of the premium. I am paying quarterly around Rs.12,500 through cash. The agent is very good and helpful.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Nov 16, 2018
    • Future Generali Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have a life insurance with Future Generali. It was taken by my Father and not sure about the policy benefits. It is a long term policy. I am paying between 12K to 13K yearly. I pay the premium by cheque. It was taken in 2016. I do get sms and emails for due date.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my life insured with LIC from last 10 years and it is a long term policy. I am happy with the returns and benefits of this policy. Net banking is easy to make premium payments i pay it every year. The maturity period for this life insurance policy is 20 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I am having a Jeevan anand policy with LIC since 2012, i get a sum assured of Rs 5 lacs in this policy. Every quarterly i pay my premium through online and the payment options are good. I am happy with the returns and benefits of this policy and the tenure period is 21 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 16, 2018
    • LIC Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have a term plan policy with LIC. It was taken in the year of 2009. The tenure period is 10 years and almost 9 nine years completed. Every 4 years, I got some maturity amount. It is a money back policy. The policy coverage and benefits are good. For one year, the premium is Rs.2800.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 15, 2018
    • SBI Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I took a life insurance with SBI Life and it was taken 4 years. I have chosen the policy because am holding a salary account with SBI. The policy coverage and the plan benefits are better. I pay the premium through cash. Am paying monthly 600 rupees as a premium.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 15, 2018
    • LIC Life Insurance
      "Due reminder should be timely"
      0.5 4.0/5 "Great!"
      I do have one or two life insurance policy with LIC. It was taken long back, its a long term policies. I am paying around 5000 quarterly. It is a conventional policy and I will getting a maturity benefits. I am making the payment through online. The premium reminder update is not that good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 13, 2018
    • HDFC Life Life Insurance
      "Good "
      0.5 5.0/5 "Blown Away!"
      I have taken 2 life insurance policies with HDFC Life, one was taken in the year 2007 and other is year back. I am very much satisfied with the policy coverage and benefits. They have introduced term plan and giving partial disability benefits. I am paying the premium of 3700 rupees monthly through ECS.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 13, 2018
    • LIC Life Insurance
      "Trust worthy"
      0.5 5.0/5 "Blown Away!"
      I am paying the premium from child hood, I trust LIC because my father, grand father everyone used it. I am not sure about the matured benefits but tax benefits is good . Payment option is convenient, I can check the statement through LIC website.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 12, 2018
    • LIC Life Insurance
      "Benefits should be improved"
      0.5 5.0/5 "Blown Away!"
      Every people trust on LIC, I have money back policy with them. Per month I am paying Rs. 4500 for total tenure of 25 years. As compared to other policy they are not providing proper benefits but still we trust the insurance company because of the reputation. Still need to work on the benefits.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 12, 2018
    • HDFC Life Life Insurance
      "Good for saving with Tax benefits"
      0.5 4.0/5 "Great!"
      I have ULIP plan with HDFC Life, I pay the premium around Rs. 15,000 per annum based on market rate I get the benefits , it has locking period from 3 to 5 years. I can check my details directly with the bank, staff will check and update the information. The plan has tax benefits is good.
      Was this review helpful? 0
      , nagpur
      Reviewed on Nov 12, 2018
    • LIC Life Insurance
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have not contacted the customer support anytime. The plan benefits are low in LIC as compared to other policies. The policy coverage was 2-3L only and the tenure period is 22 years. My policy name is Jeevan Jothi. I pay around 350 rupees per month. The payment mode is cash or cheque.
      Was this review helpful? 0
      , thane
      Reviewed on Nov 12, 2018
    • LIC Life Insurance
      "Good for tax saving"
      0.5 4.0/5 "Great!"
      I have LIC policy for 15 years, every month I used to pay the amount of Rs.976 on yearly basis its comes around 24,000. After completion of 15 years I will get the matured benefits with the interest rate. At the time of purchasing the policy they were explained everything its good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 12, 2018
    • LIC Life Insurance
      "Trusted Insurance Company"
      0.5 4.0/5 "Great!"
      Its old insurance company, we have confidence on them, the benefits aren't great. But every body have one policy, even my parents having a policy with them. Whenever I make the premium through online, I get immediate update. Lic is best for life insurance not for the investment.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2018
    • LIC Life Insurance
      "Best Policy"
      0.5 5.0/5 "Blown Away!"
      I have taken life insurance from Life insurance corporation of India . I have chosen this policy as am getting Income tax benefits . They gave good tenure period of 15 years . Making the payments half yearly through online banking. Overall am satisfied with life insurance
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2018
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