Best Life Insurance Policy in India to Invest – Top Life Insurance Plans

best life insurance policy in India

There is no straightforward answer about what is the best life insurance policy in India This is because there may not be one-size-fits-all types of life insurance policy.

If you are planning to buy a life insurance policy, you’d need to compare plans on the following parameters:

If you are looking for the best life insurance policy, then you are at the right place, your search for the best life insurance plans options ends here we are providing you with a complete list of the best life insurance policies in India.

When planning for a financial freedom and life protection, we should consider the following points.

Is it a term plan or an endowment plan?

A term insurance plan offers purely insurance. On the other hand an endowment plan offers investment plus life cover.

In a term plan, you will not get any returns if you outlive the policy period but in an endowment plan, you will get some returns at maturity. One gets the claim money only if he/she dies during the tenure of the policy.

To help you choose the best life insurance plan, here we have listed top life insurance plans in India to invest. Let’s take a look at these policy in detail.

Best life insurance policy in India

LIC - Best Life Insurance Policy in India

LIC New Jeevan Anand (Plan-815) Saving Plan

Considering past performance, New Jeevan Anand form Life insurance corporation of India  (LIC) comes at the top as it completely fits the perception of a policy that a policyholder wants.

The New Jeevan Anand plan is a mixture of dual benefits including saving as well as a protection plan.

This transforms into the usual security against ones unfortunate death in terms of financial assistance for their family as well as maturity benefits if one survive the policy term period.

The multifaceted approach of New Jeevan Anand plan makes it one of the best life insurance policies available in India.

  • Plan Name: New Jeevan Anand (Plan-815)
  • Entry Age: 18 yeast to 50 years
  • Maturity Age: 75 years (nearer birthday
  • Sum Assured: Minimum – ₹100000, Maximum – No Limit
  • Minimum Policy Term: 15 years
  • Maximum Policy Term: 35 years
  • Premium Payment Option: Monthly, Quarterly, Half-Yearly, Yearly
  • Tax Benefit: U/S 80C & 10 (10D)

SBI Life – Shubh Nivesh Saving Plan:

Yet another versatile plan from SBI Life. Shubh Nivesh is a non-linked plan that provides dual benefits of endowment assurances and whole life coverage as well.

Shubh Nivesh plan permits for maturity benefits- a lump sum amount paid in case policyholder live through the policy term, or conversion of the payable amount into a regular income source for a chosen duration of time.

SBI Life Insurance Co Ltd

Alternatively, policyholder’s family enjoys the financial benefits in case of unfortunate death during the policy term. Read more about SBI Life Insurance Company

  • Plan Name: SBI Life – Shubh Nivesh Saving Plan
  • Entry Age: 35 years
  • Maturity Age: 60 years (nearer birthday)
  • Sum Assured: ₹20,00,000
  • Policy Term: 25 years
  • Premium Payment Option: Yearly
  • Tax Benefit: U/S 80C & 10 (10D)

HDFC SL Crest for Short Term Investment Planning

It is basically a short term Unit Linked Non – Participating Life Insurance Plan that offers financial protection.

HDFC SL Crest plan works on the premise of assisting you in achieving your investment goals. The plan is providing the required financial cover to your family against the your ill-timed demise.

In this plan you have to pay just 5 years premiums to enjoy market linked returns for the comprehensive duration of 10 years.

  • Plan Name: HDFC SL Crest
  • Entry Age: 14 yeast to 55 years
  • Minimum Sum Assured: 10 X annualized Premium (below 45 Age)  
  • Maximum Sum Assured: 20 X annualized Premium  
  • Maturity Age: 66 years (nearer birthday)
  • Minimum premium: ₹50,000
  • Minimum Policy Term: 10 years
  • Premium Payment Option: Yearly
  • Tax Benefit: U/S 80C & 10 (10D)

SBI Life Insurance– eShield Next: Term Plan

If you are planning to buy cheap life insurance policy, this is another versatile life insurance plan from SBI Life.  

eShield is one of the best life insurance policy in India as the name of SBI is associated with it. It is a comprehensive term plan that is non-participating and non-linked in nature.

This policy provides complete peace of mind that will surely be supplied by SBI Life. eShield is best for those who are looking for financial protection.

  • Plan Name: SBI Life Insurance– eShield Next: Protection Plan
  • Plan Option: Level Cover, Increasing Cover, and  Level Cover with Future Proofing Benefit
  • Entry Age: For Whole Life: 45 years, For Other than Whole Life: 18 years
  • Maximum Age: Single Premium & LPPT: 65 years, Regular Premium: 60 years
  • Maturity Age: Single and Regular Premium 85 years, Whole Life: 100 years
  • Minimum Sum Assured: ₹1,00,000,
    maximum Sum Assured: For Non-Smoker Lives: No limit, For Smoker Lives: `99,00,000
  • Minimum Policy Term: 5 years
  • Premium Payment Option: Single, Yearly, Half-yearly & Monthly
  • Tax Benefit: U/S 80C & 10 (10D)

AEGON Religare iTerm Plan

This cost-effective comprehensive protection plan is all set to be the top life insurance policy in 2016. If you are searching for the best term life insurance plan, then you must think about AEGON Religare iTerm Plan.

AEGON Religare’s iTerm Plan ensures the protection of your family at a part of the conventional cost. The company offered both online as well as offline, buying an online AEGON Religare’s iTerm Plan is a better option. It is easy to obtain and convenient to purchase.

Bajaj Allianz Life Smart Protect Goal

It is one of the best life insurance policy which offers financial protection and also help to achieve the financial objectives of life.

Smart Protect Goal plan offers comprehensive coverage with a host of features. The plan offers four different variants of life cover option. It offers life cover with a joint life and child education extra cover.

In this plan, you can also increase life cover. It has various premium options i.e. regular premium, limited premium mode or single premium option.

  • Plan Name: Bajaj Allianz Life Smart Protect Goal
  • Entry Age: 18 yeast to 65 years
  • Maturity Age: With ROP – 75 years, Without ROP 80 years
  • Sum Assured: Minimum – ₹50 Lakh, Maximum – No upper Limit
  • Premium Payment Option: Regular, Limited, Single premium mode
  • Tax Benefit: U/S 80C & 10 (10D)

Exide Life Income Advantage Plan

This non-participating life insurance saving plan ensure financial protection of your family along with the guaranteed regular income benefit.

This plan takes care of the liabilities of the family in the absence of the insured but it also ensures that they maintain a good life style.   

Exide Life Insurance

Income Advantage Plan provides coverage for the entire term of the policy. It offers flexible option to avail income pay-out also offers add-on riders benefits to enhance the policy coverage. The plan also offers a saving up to 6% on a higher premium paid.    

Other than the above-mentioned life insurance plans, there are many other life insurance policies in Indian market.

Make your choice and pick the best life insurance company that provides services to your best liking.

Moreover, according to your need you can choose the best life insurance policy in India and buy the plan is easy and hassle free-way. All policies offers to cater to the requirements of the life insurance seekers.

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