• 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 Benefits policy"
      0.5 5.0/5 "Blown Away!"
      LIC provide good return and its more secured, they have good endowment plan it has good return, the premium is good enough compared to normal plan it has 10 to 20% extra on endowment policy it has good benefits, it gives good sum assured. tax benefits, financial security unforeseen events.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 20, 2018
    • Aegon Life Life Insurance
      "Good for Me and My Family"
      0.5 5.0/5 "Blown Away!"
      Last three month back I purchase Aegon life through online channel. The plan benefits are good, I get the maturity benefits of Rs. 34 lakhs after 25 Years . In case of any loss, my nominees get the amount of Rs. 7.50 lakhs. I make monthly premium around Rs. 5000 monthly month its fine.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Trusted Insurance Company"
      0.5 4.0/5 "Great!"
      LIC is a good company, but they don't have proper customer service to give reminder call on the premium. Plan benefits are average than other company like Bharathi Axa, TATA Birla etc. I took Jeevan bheema plan it has the tenure of 10 years , it has the premium Rs. 5000 in a year, I get sum assured value around 5 lakhs.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance policy from LIC. It is a cash back policy. I have taken this policy through agent. The representative explained about the benefits clearly. The policy coverage and plan benefits are satisfactory. I pay 4500 rupees quarterly through cash or net banking.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Excellent policy to use"
      0.5 5.0/5 "Blown Away!"
      I have got the Life insurance policy for my child and it was started from the month April. This policy has the tenure of 21years. I pay the premium amount of Rs,2700per month. The plan benefits and the policy coverage is better with this policy .
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Better Jeevan anand policy "
      0.5 5.0/5 "Blown Away!"
      Holding the Jeevan anand Life insurance policy for more than 2 years from the LIC. The customer support service is good with the LIC and they have better plan benefits and the payment options. I pay the premium amount through ECS which is easy and helpful.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • LIC Life Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      I am using the LIC service and its very good. I am satisfied with the policy coverage and the plan benefits. I have several policies for the entire family. All are long term policies. I am paying the premium for annum sum around 80K to 1L. The payment was done quarterly through cheque as well as ECS.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Feb 20, 2018
    • SBI Life Life Insurance
      "Looking for better feature and service"
      0.5 3.0/5 "Satisfactory"
      Performance of people they wont helpful, they don't realize whom they are dealing with. If anything happens also no body is there to help me. SBI life is average, I have tenure of 15 years, premium monthly 1500. I will maturity benefits lump sum amount its nominal, tax benefits, life cover accidental cover
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
    • LIC Life Insurance
      "Very Good"
      0.5 4.0/5 "Great!"
      Taken a life insurance policy with LIFE INSURANCE CORPORATION OF INDIA. Its an attractive insurance policy. They have given very good benefits and its a right policy. I would end up saying that it is a very good with LIFE INSURANCE CORPORATION OF INDIA.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 16, 2018
    • LIC Life Insurance
      "Good to invest"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance policy from LIC. I am using the service for a very long time. I never contacted the customer service. It was taken through an agent. The policy coverage and the plan benefits. I believe its a cash back policy. I am paying monthly 8K through net banking.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
    • LIC Life Insurance
      "Its Good"
      0.5 4.5/5 "Excellent!"
      I wont deal with any LIC agent, I make payment by myself through online, the payment gate is convenient. I took lot of policies, each has different tenure. Hope I will be getting good sum assured after the maturity period with the tax benefits.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 16, 2018
    • LIC Life Insurance
      "Very good for child"
      0.5 4.0/5 "Great!"
      Got a policy for my child and I have bought this policy around 10 years ago from LIC. This policy has the tenure of 20years. The customer support is better with the LIC. I pay the premium amount of Rs,11,000 every year , the plan benefits and the coverage is good with this policy .
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 15, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold the Money back life insurance policy with the LIC for past 15years. This year this policy is going to get matured. I pay the premium amount of Rs,5000 every year. I get the money back amount of Rs,12000 every 4 years once. The plan benefits and the coverage is good with this policy .
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 15, 2018
    • LIC Life Insurance
      "Average"
      0.5 3.5/5 "Pretty good"
      I took my life insurance policy from LIC. I am using the service for past 4 years. I have taken this policy through an agent. I pay the premium directly to the office. Am paying yearly around 3K for my policy. The coverage and the plan benefits are average.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 15, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 6-7 years and it is a long term policy. The tenure of this life insurance policy is 20 years. I pay my premium once in 3 months through cash and i am convenient with the payment options which they are giving. The name of the policy is Jeevan Anand and i am happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 15, 2018
    • LIC Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India. Customer service is good one with the Life Insurance Corporation of India. Policy coverage value is fine one for me with them ad the plan benefits are fine.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 15, 2018
    • Reliance Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken one money back policy and other policy is child plan from Reliance. The services are excellent. The customer support was very good. The policy coverage and benefits are quite better. The tenure period is 20years and 10years. I used to pay per annum 39K through net banking.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 15, 2018
    • LIC Life Insurance
      "Better insurance"
      0.5 5.0/5 "Blown Away!"
      I took 2 life insurance policies with LIC. This was taken through an agent. The policy coverage and the plan benefits are better. I never contacted the customer service. I am paying half yearly 5K as a premium. The payment was done through net banking.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 15, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I am having LIC policy from last 2 years and is ti is a endowment policy. The tenure of this life insurance policy is 15 years, I pay my premium on monthly basis through net banking and i am convenient with the payment options which they are giving. I am also happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 15, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 10 years and it is a money back policy. The tenure of this policy is 15 years and i get a money back after every 5 years. I pay my premium on annual basis through net banking and i am convenient with the payment options. I am happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , faridabad
      Reviewed on Feb 14, 2018
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