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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
    • HDFC Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance from HDFC Life. I could purchase the insurance online. The tenure is for ten years and there are good plan benefits and sum assured. I would get my maturity amount after the 10th year. The premium is nominal and I can pay it online.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 20, 2018
    • LIC Life Insurance
      "Satisfactory"
      0.5 4.5/5 "Excellent!"
      I have taken another policy with LIC. It is a Jeevan Saral policy. The premium is normal. The sum assured and the policy benefits are good. I would get the benefits of this policy after the retirement. It has been a very good experience till date.
      Was this review helpful? 2
      , vadodara
      Reviewed on Sep 18, 2018
    • LIC Life Insurance
      "Good in benefits"
      0.5 4.5/5 "Excellent!"
      I have also taken a endowment policy from LIC. The policy benefits are good. The sum assured is also good. The benefits was also provided to me immediately. It has been a good experience and it is secure to get the policies from this company. Good overall.
      Was this review helpful? 0
      , vadodara
      Reviewed on Sep 18, 2018
    • LIC Life Insurance
      "Beneficial policy"
      0.5 4.5/5 "Excellent!"
      My father has taken a life insurance from LIC for me. It is a money back policy and the benefits are good and the sum assured is good. I got the benefits by default without having to go behind LIC.
      Was this review helpful? 0
      , vadodara
      Reviewed on Sep 18, 2018
    • Future Generali Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the Future Genrali. I am paying a premium of 12000 per year. Their hasn't been any issues with the policy. The policy is a normal life insurance with out any commendable benefits. They need to improve their customer support services.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 15, 2018
    • Kotak Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the Kotak, I am paying a premium of 11000 , they need to work on their promises while purchasing the policy. I am just paying the premium with out any benefits or a proper support. When it comes to serving customers they're all hesitant.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 15, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 3.5/5 "Pretty good"
      I hold a Money back policy with LIC from last 6-8 years, i get a money back after every 4 years. I pay my premium once in a year by cheque and i am convenient with the payment options. I am happy with the returns and benefits of this policy. The tenure period for this loan is 25 years.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 12, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 1 year and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 3 months through net banking and i am convenient with the payment options. The maturity period for this policy is 15 years
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 12, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 10 years and it is a money back policy. I am happy with the returns and benefits of this policy. I pay my premium once in a year through auto pay. The tenure period for this policy is 20 years.
      Was this review helpful? 1
      , faridabad
      Reviewed on Sep 06, 2018
    • HDFC Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with HDFC LIFE from last 3 months, i am happy with the returns and benefits of this insurance policy. I pay a premium of Rs 40000 on annual basis and this premium i have to pay for 7 years and after 10 years i will get returns of this policy.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Sep 06, 2018
    • Tata AIA Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance from the TATA AIG life as it has good returns i make the payment through on-line banking annually . This policy covers accidental and critical illness benefits with good tenure period . Overall am satisfied with my policy .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 05, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken jeevan policy from the life insurance corporation of India . Am satisfied with their customer service It has the benefits of accident coverage and critical illness for 20 years . I make payment directly to their agent . I have chosen this insurance because it provides very good returns too.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 05, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I hold a life insurance policy with LIC from last 20 years and it is a long term policy. I pay premium once in 6 months through online and i am convenient with the payment options. I am happy with the returns and benefits of this policy and maturity period is after 25 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 05, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 5-6 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium on yearly basis through online and i am convenient with the payment options. The tenure period for this policy is 20 years.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 05, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken Jeevan suraksha policy from the life insurance corporation of India .I have chosen this policy based on the benefits . It has good returns . Their customer executive was my cousin which explained the policy very well . I make the payment quarterly through online payment . Am very much satisfied with this policy coverage of 15 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 05, 2018
    • SBI Life Life Insurance
      "Good policy "
      0.5 4.0/5 "Great!"
      I have taken life insurance from Sbi Life insurance . This policy covered with accidental coverage and critical illness coverage . This is good policy with good benefits . Overall am satisfied with customer service and response . I have choose tenure period with better policy coverage
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 05, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken Endorsement insurance policy from Life insurance corporation of India for tenure period of 20 years . This policy cover with accidental coverage and critical illness coverage . This is good policy with good benefits . Overall am satisfied with customer service and response .And making the payment yearly through online net banking every half yearly .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 05, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I took life insurance jeevan Anand policy from life corporation of India . It has good benefits with good premium amount . I make the payment monthly through online payment . It has good returns based on that i have chosen this Overall am satisfied with my policy. This policy covers accidental and critical illness benefits .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 05, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my life insured with LIC from last 4 years and it is a money back policy. I get money back after every 3 years in this policy. I pay my premium once in 6 months through net banking and i am convenient with payment options. The name of this policy is Jeevan anand and i get good returns and benefits. The tenure period for this policy is 20 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 05, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I am having life insurance policy with LIC from last 10-12 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 3 months through credit card and i am convenient with the payment options. The maturity period for this insurance policy is 20 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 05, 2018
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