Life Insurance Policies in India: Life insurance is the best way to build wealth and secure the future of the family in the event of the unfortunate death of the policyholder. Life insurance can be availed either through “Term Plans” which provide life cover to protect the family or through “Investment Plans” which provide financial security to meet the financial goals of individuals. Helps in wealth creation.

Top 10 Life Insurance Policy in India
what is life insurance policy
A life insurance policy is a contract between the insured and the insurance company in which the insurance company gives a certain sum to the beneficiary in case of any untoward incident or death of the insured during the term of the insurance plan. In return, the policyholder promises to pay a fixed amount either in lump sum or one by one as premium.
- Critical illness cover is also given if included in the policy.
- Since it offers a wide coverage, the premium will naturally be higher.
Top 10 Life Insurance Policies in India
Plan Name | Plan Type | Entry Age (Min/Max) | Policy Term(Min/Max) | Sum Assured(Min/Max) |
Aditya Birla Sun Life Insurance | Term | 18 years to 65 years | 10 years to 55 years | Minimum – Rs.25 lakh Maximum – No limit |
SBI Life eShield | Term | 18 years to 65 years | 5 years to 30 years | Minimum – Rs.20 lakh Maximum – No limit |
HDFC Life Click 2 Protect Plus | Term | 18 years to 65 years | 10 years to 40 years | Minimum – Rs.25 lakh Maximum – No limit |
Aviva i-Life | Term | 18 years to 55 years | 10 years to 35 years | Minimum – Rs.25 lakh Maximum – No limit |
Future Generali Care Plus | Rural | 18 years to 60 years | 5 Years to 30 Years | Minimum – Rs.15 lakh Maximum – Rs. 50 Laks |
Birla Sun Life BSLI Protect@Ease Plan | Term | 18 years to 65 years | 5 Years to 40 Years | Minimum – Rs.30 lakh Maximum – No Limit |
LIC’s Jeevan Pragati Plan | Endowment | 12 years to 45 years | 12 Years to 20 Years | Minimum – Rs.15 lakh Maximum – No Limit |
Max Life Online Term Plan Plus Basic Life Cover | Term | 18 years to 60 years | 10 Years to 40 Years | Minimum – Rs.25 lakh Maximum – 100 Crores |
Bharti Axa Life Elite Secure | Term | 18 years to 75 years | 10 years to 25 years | Minimum – Rs.25 lakh Maximum – No Limit |
PNB MetLife Mera Term Plan | Term | 18 years to 65 years | 10 Years to 40 Years | Minimum – Rs.10 lakh Maximum – No Limit |
1. Aditya Birla Sun Life Insurance policy
life insurance policy: Aditya Birla Sun Life Insurance Company Limited offers a very wide variety of insurance plans to their customers. This plan provides all the basic needs and requirements to the customers at very low interest rate. It reduces all the risk on insuring all the basic needs of the customers. The different types of insurance plans offered by Birla Sun Life Insurance Company Limited are as follows:
- Life span solution
- Saving with protection
- Children’s future solution
- Pension settlement scheme
- ULIP
- Rural
- NRI
Adity Birla Sun Life Term Insurance Plan Features:
Minimum age at entry | 18 Years |
Maximum age at entry | 65 years |
Minimum term period | 5 years |
Maximum term period | 30 years |
Minimum sum assured | Rs.30,00,000 |
Maximum sum assured | No limit on maximum sum assured |
Premium payment mode | Monthly, quarterly, half-yearly or annually |
Premium term | Equal as policy term |
2. SBI Life eShield
life insurance policy: With eShield Next, boost your financial immunity. This is a new age protection plan which has been intelligently designed to not only meet your current needs but also to take care of your changing responsibilities later in life.
It is time for a strong financial immunity that secures your family’s future with the right life insurance solution.
5 reasons to choose SBI Life – eShield Next
- Security – To ensure financial security of your family
- Flexibility – Choose from 3 plan options
- Simplicity – Customize your plan with optional benefits
- Affordability – Option to pay premium as per your convenience
- Reliability – through life cover up to 100 years (whole life) or up to 85 years (other than whole life)
A perfect solution to strengthen your financial immunity and secure your family in today’s ever-changing world.
SBI Life eShield Features:
Cover options under the eShield plan | • Level Cover• Level Cover with Accidental Benefit• Increasing Cover• Increasing Cover with Accidental Benefit |
Maximum age at entry | • 65 years for both Level Cover and Level Cover with Accidental Death Benefit• 60 years for Increasing Cover and Increasing Cover with Accidental Death Benefit |
Minimum age at entry | 18 years |
Minimum sum assured | Rs.20,00,000 |
Maximum sum assured | No limit (subject to underwriting) |
Minimum policy term | • 5 years (For Level Cover & Level Cover with Accident Benefit)• 10 years (For Increasing Cover & Increasing Cover with Accident Benefit) |
Premium payment mode | Yearly |
Premium term | Same as policy term |
Minimum premium amount | Rs.3,500 |
Maximum premium amount | No limit |
3. HDFC Life Click to Protect Plus
life insurance policy: HDFC Life Click to Protect Plus is a pure term insurance plan that offers you a great cover at very low premiums. Along with this, this policy also has some additional features such as,
You can increase the cover amount for important life events like marriage or the birth of a child.
Accidental Death Benefit Rider Available Death Benefit Rider is available.
Along with this you can pay as a lump sum class monthly claim settlement.
HDFC Life Click 2 Protect Plus Features:
Cover options under Click 2 Protect Plus | Life option: It offers a lump sum at death of the policyholder.Extra life option ( Accidental Death Benefit): It provides an extra sum assured in addition to the lump sum offered on death.Income Option: Provides 10% of sum assured on death and the remaining is paid out on a monthly basis for 15 years.Income Plus Option: The option provides 100% of sum assured on death and also an arrears on 100% of sum assured which is paid on a monthly basis. |
Minimum age at entry | 18 years |
Maximum age at entry | 65 years |
Minimum sum assured | Rs.25 lakhs |
Maximum sum assured | No limit (subject to underwriting) |
Premium payment mode | Yearly, half-yearly, quarterly, or monthly |
Premium paying term | Regular, limited, or single |
4. Aviva i-Life insurance policy
life insurance policy: Aviva i-Life is a pure term plan to protect the beneficiaries of the policyholder in case of the unfortunate event of their premature death. This policy is available for purchase online and requires no agent intervention. There are additional benefits for women customers and for those opting for higher sum assured.
Aviva i-Life Features:
Minimum entry age | 18 years |
Maximum entry age | 55 years |
Maturity age | 70 years |
Minimum policy term | 10 years |
Maximum policy term | 35 years |
Premium payment frequency | Yearly and half-yearly |
Premium payment term | Equals the policy term |
Riders | None |
Tax | Tax benefits under Section 80C will be applicable |
5. Future Generali Care Plus
life insurance policy: Future Generali Care Plus is a traditional pure term plan that can be used by policyholders to secure the future of their family. This policy offers two variants so that its customers can choose and customize their savings and insurance cover based on the premium they are able to pay.
Future Generali Care Plus Features (Classic Option):
Minimum entry age | 18 years |
Maximum entry age | 60 years |
Minimum sum assured | Rs.10,00,000 |
Maximum sum assured | Rs.24,99,999 |
Minimum policy term | 5 years |
Maximum policy term | 30 years |
Maximum coverage age | 65 years |
Minimum premium | Rs.2,500 per annum |
Premium modes | Yearly, half-yearly, quarterly, and monthly |
Future Generali Care Plus Features (Premier Option):
Minimum entry age | 18 years |
Maximum entry age | 60 years |
Minimum sum assured | Rs.25,00,000 |
Maximum sum assured | No limit |
Minimum policy term | 5 years |
Maximum policy term | 30 years |
Maximum coverage age | 65 years |
Minimum premium | Rs.5,000 per annum |
Premium modes | Yearly, half-yearly, quarterly, and monthly |
6. BSLI Protect @Ease Plan
life insurance policy: Birla Sun Life Insurance (BSLI) Protect@Ease is a term insurance that helps you secure your family’s future without compromising on their dreams and aspirations. In this fast-paced world, convenience is the key to every aspect from online shopping to online food ordering.
BSLI offers you the same convenience with Insurance, get hassle free, anytime insurance policy for your near and dear ones with just a few clicks. While buying a term insurance policy, you can choose the term of the policy, sum assured and much more. This plan is tailored to suit all your needs.
BSLI Protect@Ease Plan Features:
Minimum entry age | 18 years |
Maximum entry age | 65 years |
Plan options | • Level Term Insurance• Increasing Term Insurance |
Minimum policy term | 5 years |
Maximum policy term | 40 years |
Premium paying term | • Single payment• Limited Payment• Regular Payment |
Premium payment mode | Yearly or monthly |
Minimum Sum Assured | Rs.30,00,000 |
Maximum Sum Assured | No limit (subject to underwriting) |
Riders available | • BSLI Accidental Death & Disability Rider• BSLI Hospital Care Rider |
7. LIC’s Jeevan Pragati Plan
life insurance policy: LIC Jeevan Pragati is a simple endowment plan that offers a combination of both financial security and savings. The scheme was introduced on 3 February 2016
It is a non-linked plan with profits that automatically increase the risk cover after every 5 years of the policy term
The plan offers a good savings option that can be used to meet long-term goals. The increased risk cover helps in meeting the financial security requirements of the standard of living. Loan facility on surrender value basis can also be availed for immediate liquidity requirements.
LIC’s Jeevan Pragati Plan Features:
Minimum entry age | 12 years |
Maximum entry age | 45 years |
Policy term | 12 to 20 years |
Minimum basic sum assured | Rs.1,50,000 |
Maximum basic sum assured | No limit |
Maximum age at maturity | 65 years |
Premium payment modes | Yearly, half-yearly, quarterly, and monthly |
8. Max Life Online Term Plan Plus Basic Life Cover
life insurance policy: Max Life brings to you Online Term Plan Plus under which you can ensure a financially secure future for your family by avoiding risks like death, illness and disability.
Online Term Plan Plus offers you Life Insurance of 1 Crore only at Rs 563 Monthly Premium* (this standard premium amount is 30 years base plan policy taken by any 28-year old, healthy, non-smoker male plus premium paid period has been determined).
Max Life Online Term Plan Plus Basic Life Cover Features:
Minimum entry age | 18 years |
Maximum entry age | 60 years |
Policy term | 10 years to 40 years |
Minimum sum assured | Rs.25 lakhs |
Maximum sum assured | 100 Crores |
Premium payment term | Equal to policy term |
Premium payment mode | Yearly, half-yearly, quarterly, and monthly |
9. Bharti Axa Life Elite Secure
life insurance policy: Bharti AXA Life Elite Secure is a simple term insurance plan that provides a lump sum amount as life insurance benefit to the nominee in the event of the unfortunate death of the insured. This plan is an economical cost option to protect the financial future of one’s family from contingencies.
Bharti Axa Life Elite Secure Features:
Minimum entry age | 18 years |
Maximum entry age | • 75 years for the policy term of 10, 15, 20, and 25 years.• 65 years for a term period of 5 years |
Minimum sum assured | Rs.25,00,000 |
Premium payment term | Equals policy term |
Premium payment modes | Yearly, half-yearly, quarterly, and monthly |
10. PNB MetLife Mera Term Plan
life insurance policy: PNB MetLife Mera Term Plan is a protection plan that provides you and your family with a comprehensive life coverage at a very nominal cost.
This plan offers you many additional options like spousal coverage and whole life cover along with choosing protection against death, critical illness, disability and periodic illness. You can also customize your coverage with multiple options to enhance the cover available under the plan.
PNB MetLife Mera Term Plan Features:
Minimum entry age | 18 years |
Maximum entry age | 65 years |
Minimum sum assured | Rs.10,00,000 |
Age at maturity | 75 years |
Policy term | 10 years to 40 years |
Premium payment term | Equals the policy term |
ALSO, READ: