1. TATA AIA Life Insurance
TATA AIA Life Insurance is a joint venture between two trusted names — Tata Sons Pvt. Ltd., one of India’s most respected business conglomerates, and AIA Group Limited, the largest pan-Asian life insurance group. This powerful partnership brings together Tata’s legacy of trust and AIA’s global expertise in life insurance and wealth management.
- Sum Assured: Starts from 50 Lakhs.
- 4 Flexible Plan Options: Choose coverage and payout structures that match your needs.
- Terminal Illness Protection: 50% of the base sum assured is paid on diagnosis.
- Immediate Claim Settlement: Quick payout of up to ₹3 lakh on claim intimation.
- Discounts & Benefits: Reduced premium rates for women.
- Rating: 5 / 5
- High Life Cover: Life Cover from 2 Crore to 100 Crore.
- Multiple Payout Options: Choose from lump sum or staggered payouts.
- Flexible Policy Tenure: Select coverage up to 100 years, with flexible payment terms.
- Premium Discounts: Attractive rates for women and non-smokers.
- Terminal Illness Benefit: Accelerated payout of 50% of base sum assured.
- Rating: 4.5 / 5
A dynamic plan that combines market-linked growth with comprehensive life, accidental, and disability cover.
- Market-Linked Growth: Potential for wealth creation alongside protection.
- Comprehensive Cover: All-in-one life, accidental, and disability benefits.
- Maturity Value: Includes return of mortality and morbidity charges.
- Wellness Rewards: Earn benefits via the Tata AIA Vitality program.
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- Financial Security: Lump-sum benefit to secure your family's future.
- Maturity Benefit: Receive total fund value plus a return of advance premiums.
- Accident Cover: Additional payout for accidental death or permanent disability.
- Terminal Illness Cover: 20% of sum assured paid on diagnosis.
- Wellness Program: Earn rewards and premium discounts for staying healthy.
- Rating: 4 / 5
- Financial Security: Lump-sum payout ensures your loved ones’ future is protected, providing essential stability for every woman.
- Lower Premiums for Women: Women policyholders enjoy up to 15% lower premiums and additional discounts for single mothers.
- Waiver of Premium: If your spouse passes away in an accident, all future premiums are waived; your policy and benefits remain.
- Premium Break for Pregnancy: Pause premium payments for up to 12 months during pregnancy—keep coverage and benefits intact.
- Child Education Protection: Optional rider guarantees regular payouts towards your child’s education, even if you’re not there.
- Rating: 4.5 / 5
2. HDFC Life Insurance
HDFC Life is one of India's largest and most trusted private life insurers, known for its extensive product portfolio and strong financial performance. HDFC Life has consistently maintained a high CSR demonstrating a strong track record in promptly settling claims and upholding its commitment to policyholders' financial security.
- Wide Customization: Choose from three plan options based on your life stage and needs—for personalized financial security.
- Return of Premium: Offers an option to get back all premiums paid on survival till maturity, adding value to your investment.
- Premium Paying Term: Regular & Limited Pay.
- Flexible Claim Payouts: Option to receive the death benefit as a lump sum or in easy installments for better financial management.
- Sum Assured: Starts from 50 Lakhs.
- Sum Assured: Max 3 Crores.
- Return of Premium Option: Get back all base premiums paid if you survive the policy term—offering safety plus returns.
- Terminal Illness Cover: Acceleration of death benefit on terminal illness diagnosis provides advance financial support.
- Flexible Premiums & Terms: Multiple payment options including regular, and limited pay.
- Installment Payouts: Death benefits can be structured as one-time or regular income for family stability.
- Immediate Payout: Nominee receives up to ₹5L within one working day of filing a claim (after a waiting period), ensuring urgent financial relief.
- Premium Break Option: Take a break from premium payments for up to 12 months in times of financial difficulty (available after five years), while your life cover continues.
- Smart Exit (Zero Cost): Option to exit after 25 years (subject to policy tenure rules) and receive 100% of base premiums paid if you didn’t select Return of Premium upfront.
- High Cover & Flexible Tenure: Designed especially for the salaried segment—with discounts for higher cover and the flexibility to renew the plan without premium hikes.
- Customizable Income Payout: Option to select payout mode (lump sum or staggered) allowing tailored financial planning for your loved ones.
- Wide Customization: Choose from three plan options – Life, Life Plus, and Life Goal – to match your financial goals and life stage needs.
- Life Stage Protection: Increase your life cover at key milestones like marriage or childbirth without additional medical tests.
- Premium Payment Flexibility: Multiple payment modes – Single, Limited, or Regular Pay – to suit your budget and planning.
- Flexible Claim Payouts: Option to receive the death benefit as a lump sum, regular income, or a combination of both for better financial management.
- Whole Life Coverage: Ensures lifelong financial security for your family with a plan that covers you for your entire lifetime.
- Increasing Death Benefit: The sum assured increases throughout the policy term, helping counter inflation and rising expenses.
- Multiple Plan Options: Choose ‘Life Option’ for pure term or RoP Option for return of premiums on survival till age 99.
- Death Benefit Installments: Provides the flexibility to receive death benefits as lump sum or in regular installments as per the beneficiary’s needs.
- Option to Lower Premiums: After five policy years, premiums can be reduced while maintaining coverage, adding to plan flexibility
3. Star Union Dai-ichi Life Insurance
Star Union Dai-ichi Life Insurance (SUD Life) is a joint venture between Bank of India, Union Bank of India, and Dai-ichi Life Holdings from Japan. This collaboration brings together the strength of public sector banks with international insurance expertise.
- Coverage Until Age 70: Protection extends well into post-retirement years.
- Lump-Sum Payout: The death benefit is paid in a single, convenient installment.
- Limited Premium Payment: Flexibility to pay all premiums over a shorter duration.
- Tax Benefits: Premiums are eligible for tax deductions under Section 80C.
- Online Claim Tracking: Provides transparency for nominees during the claim process.
- Extended Coverage: Provides life cover up to the age of 80.
- Limited Pay Option: Complete premium payments early while staying covered for the full term.
- Lump-Sum Payout: The entire claim amount is paid in a single installment.
- High Claim Settlement Ratio: A strong claim settlement ratio of 98.29%.
- Fast Claim Processing: 94.38% of claims are settled within 30 days.
4. Bandhan Life Insurance
Bandhan Life Insurance, formerly known as Aegon Life, is a digital-first life insurance company in India. It focuses on providing innovative, customer-centric insurance solutions directly to consumers online, making insurance simple, transparent, and accessible.
- High Coverage at Affordable Premiums: Offers a sum assured starting from ₹25 lakhs, with no upper limit, enabling robust family protection at competitive pricing.
- Special Exit Value: Unique feature allowing you to exit the policy and receive a refund of premiums (minus GST) at age 55 within a one-year window, if your cover is no longer needed.
- Flexible Premium Payment Options: Choose from regular or limited pay terms (10, 15, or pay till 60), with annual, half-yearly, or monthly payment frequencies.
- Rider Options: Enhance protection with accidental death and critical illness riders.
- Family Payout Flexibility: Choose between lump sum or installment payouts to suit your nominee’s needs.
- Premium Refund on Survival: If you survive the policy term, Bandhan Life iTerm Return of Premium returns all base premiums paid (excluding taxes), blending financial protection and savings in a single plan.
- Flexible Premium Payment Options: Choose how you pay—as regular pay or for limited pay terms—across annual, half-yearly, and monthly frequencies, making it easier to fit your budget.
- Guaranteed Maturity Benefit: The total premium amount (minus GST and extra rider charges, if any) is assured as a maturity payout, ensuring your investment is protected if no claim arises during the policy period.
- Comprehensive Family Protection: The plan provides a lump sum assured payout to your nominee in case of death during the policy term.
- Tax Advantages: Premiums paid qualify for tax benefits.
5. PNB MetLife India Insurance
PNB MetLife India Insurance is a collaboration between MetLife International Holdings LLC (MIHL) and Punjab National Bank (PNB). Combining PNB's extensive domestic network with MetLife's global insurance expertise, the company offers a wide array of protection and retirement solutions to customers across India.
- Extended Coverage up to 99 Years: This plan offers the flexibility to secure life cover until the advanced age of 99 years for most options.
- Return of Premiums Payments Option: Policyholders have the choice to receive a return of their premiums paid if they survive the policy term.
- Extensive Critical Illness Coverage: Under the "Life Plus Health" option, the plan provides coverage for an extensive list of 50 specified critical illnesses.
- Step Up – Increasing Sum Assured: This innovative feature allows policyholders to systematically increase their sum assured by 10% every year.
- Flexible Premium Payment Options: The plan offers a versatile choice of premium payment modes, including limited payment terms (ranging from 5 to 15 years), a single premium payment at inception, or regular pay throughout the policy term.
- Versatile Protection Term Choices: Policyholders can select coverage for their "Whole Life" (extending up to 99 years of age) or opt for a "Fixed Term Cover" ranging from 10 to 40 years.
- Return of Premiums Feature: When the "Return of Premium" option is selected at the policy's inception, policyholders are eligible to receive a Guaranteed Sum Assured on Maturity if they survive the policy term.
- Customizable Benefit Payout Options: The plan offers four distinct customizable benefit options for payout.
6. Pramerica Life Insurance
Pramerica Life Insurance is a joint venture between DHFL Investments Limited and Prudential International Insurance Holdings, Ltd. (a fully owned subsidiary of Prudential Financial, Inc. of the United States). With its foundation rooted in global financial strength and local market understanding, Pramerica Life has steadily grown into a trusted life insurance provider across India.
- Guaranteed Rock Solid protection throughout the policy term
- Smart Exit: Option to exit the policy once your need for cover is over and receive all the premiums paid
- Change the premium payment term from regular to limited pay during the policy term.
- Critical Illness Cover
- Attractive Premium Competitive pricing for large cover amounts
7. IndiaFirst Life Insurance
IndiaFirst Life Insurance is one of the fastest-growing life insurance companies in India, backed by two powerful promoter Bank of Baroda and Union Bank of India.
- Coverage Up to 99 Years: Choose lifelong protection with policy term options extending up to 99 years of age.
- High Cover at Affordable Premium.
- Premium Waiver on Accidental Total Permanent Disability
- Return of Premium Option: Offers a ‘Return of Premium’ variant where all paid premiums.
- Multiple Payout Options: Policyholders can choose from lump sum, regular monthly income, or increasing income payout modes for the death benefit.
- High Life Cover at Affordable Premium
- Flexible Policy Term and Premium Payment Options: Choose coverage terms from 10 to 40 years with flexible premium payment modes.
- Accidental Death Benefit (ADB) Option: Flexibility to choose from 2 riders (ADB & TPD).
- Inbuilt Terminal Illness Benefit: On diagnosis of Terminal Illness, benefit chosen at inception will be payable.
Why Choose These Plans?
A quick look at the key benefits that make these plans stand out.
Both TATA AIA and HDFC Life maintain excellent claim settlement ratios above 95%, ensuring your family gets the financial support when needed.
From basic term coverage to accidental death benefits, these plans offer comprehensive protection for various life scenarios.
Multiple coverage amounts, policy terms, and premium payment options allow you to customize the plan according to your specific needs and budget.