Top 10 Life Insurance Plans in 2016

  

Life insurance policy is something every individual should invest in. Life insurance policy ensures that your family doesn’t have to suffer in case something unfortunate should happen to you. There is a wide range of life insurance products available in the market, each with its own set of features and benefits. Choosing the right product can be difficult considering the array of options. So given below is a list of top ten insurance policies for the year 2016 to narrow down your choices to only the best.

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Top Life Insurance Plans in India Comparison Chart 2016

Plan Names	Plan Type	Plan Mode	Entry AgeMin/Max	Policy TermMin/Max	BonusYes/No	Sum Assured (INR) Min/Max
HDFC Life Click2Protect Plus	Term	Online	18 years to 65 years	10 years to 40 years	No	Minimum- Rs.25 lakh Maximum- No limit
PNB MetLife Mera Term Plan	Term	Online	18 years to 65 years	10 years to 40 years	No	Minimum- Rs.10 lakh Maximum- No limit
HDFC Life Click2Invest	ULIP	Online	30 days to 65 years	5 years to 20 years	No	125% of the single premium 10 times the annual premium
Aegon Life iTerm Plan	Term	Online	18 years to 65 years	5 years to 40 year or up to 75 years	No	Minimum- Rs.10 lakh Maximum- No limit
LIC New Jeevan Anand	Endowment	Offline	18 years to 50 years	15 years to 35 years	No	Minimum- Rs.1 lakh Maximum- No limit
SBI Life Shubh Nivesh	Endowment	Offline	18 years to 60 years	7 years to 30 years	No	Minimum- Rs.75,000 Maximum- No limit
SBI Life Saral Pension	Pension	Offline	18 years to 65 years	5 years to 40 years	Yes	Minimum- Rs.1 lakh Maximum- No limit
LIC New Jeevan Nidhi	Pension	Offline	20 years to 60 years	5 years to 35 years	No	Minimum- Rs.1 lakh Maximum- No limit
ICICI Prudential Wealth Builder II	ULIP	Offline	0 years to 69 years	10 years	No	Minimum- Rs.48,000 Maximum- No limit
Bajaj Allianz Cash Secure	Endowment	Offline	1 year to 60 years	15, 17 years	No	Minimum- Rs.1 lakh Maximum- No limit

1. HDFC Life Click2Protect Plus:

It is an online term insurance plan in India which provides adequate protection at a nominal cost. The insurance policy provides a wide range of cover options

Features and benefits:

• The plan offers comprehensive coverage at a nominal cost
• It is an online term insurance policy
• It offers four cover options
• Flexibility to choose policy term between 10 to 40 years
• Option of regular, limited and single premium

2. PNB MetLife Mera Term Plan:

It is a customisable insurance plan that gives flexibility in selecting from four payout options.

Features and benefits:

• The plan offers comprehensive coverage at a nominal cost
• It is an offline term insurance policy
• It offers four payout options
• Offers the option of increasing life cover
• Hassle free application process

3. HDFC Life Click2Invest:

HDFC Click2Invest is an online ULIP plan that offers protection and lets you build on your savings at the same time.

Features and benefits:

• Zero charge structure
• The plan offers 8 options to choose from
• Offers single, limited and regular premium payment option
• Flexibility to choose from a policy term of 5 to 20 years

4. Aegon Life iTerm Plan:

It is an online insurance policy that offers high cover at a low cost. The plan offers life cover till the age of 75 years

Features and benefits:

• It is an online insurance policy
• Offers five types of additional riders
• Option to choose between policy term of 5 to 75 years
• Hassle free application process

5. LIC New Jeevan Anand:

LIC Jeevan Anand is an insurance policy offered by Life Insurance Corporation. This plan comes with two types of riders including accidental death rider and disability rider.

Features and benefits:

• It is an offline insurance policy
• Offers two types of optional riders
• Option to choose between policy term of 15 to 35 years
• Hassle free application process

6. SBI Life Shubh Nivesh:

It is a non linked, profit endowment insurance policy which offers the option of whole life cover.

Features and benefits:

• The policy offers the option of whole life cover
• Offers benefits such as wealth creation, insurance cover and regular flow of income
• Offers three types of riders
• Option to choose between policy term of 7 years to 30 years
• Option of single premium payment and regular premium payment

7. SBI Life Saral Pension:

It is a non linked, traditional plan that keeps you protected and offers tax benefits.

Features and benefits:

• It is an insurance cum pension policy
• Offers tax benefits
• Option to choose between policy term of 5 to 75 years
• Offers guaranteed bonus

8. LIC New Jeevan Nidhi:

It is a traditional insurance policy which also offers pension benefits.

Features and benefits:

• Traditional insurance policy that also offers pension benefits
• Premiums can be paid yearly, half yearly, quarterly or monthly
• No loan will be granted against the policy
• Flexibility to choose from a policy term of 5 years to 35 years

9. ICICI Prudential Wealth Builder II:

It is a savings and protection oriented insurance plan. It is a unit linked insurance plan.

Features and benefits:

• Allows the insured to save and stay protected simultaneously
• Single premium payment policy
• Offers tax benefits
• Multiple fund options

10. Bajaj Allianz Cash Secure:

It is a traditional money back insurance policy that offers various benefits.

Features and benefits:

• Traditional money back policy
• Offers a choice of up to 4 policy terms
• Shorter premium payment term
• Special rates for female policyholders