Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Technology
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Visual Stories
  • Reviews
  • Phone Reviews
  • Fitness Bands Reviews
  • Speakers Reviews
  • Find Cricket Statistics
Hindi
More
In the news
Twitter
Xiaomi
Adani Group
Life Insurance Corporation of India
Stock Market
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Technology
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Visual Stories
Reviews
Phone Reviews
Fitness Bands Reviews
Speakers Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / #FinancialBytes: 6 best Life Insurance policies available in India
Business

#FinancialBytes: 6 best Life Insurance policies available in India

#FinancialBytes: 6 best Life Insurance policies available in India
Written by Ramya Patelkhana
Apr 22, 2018, 11:41 pm 3 min read
#FinancialBytes: 6 best Life Insurance policies available in India

Almost everyone has heard of "Life Insurance". It is one of the safest and best ways to protect one's family and their future in case of the policyholder's untimely demise. Insurance providers guarantee to pay an "assured sum" to beneficiaries in such unfortunate events. However, there are different policies offering various other benefits and bonuses, too. Here are 6 popular life insurance policies.

Different Policies
What are the different types of life insurance policies?

There are several life insurance products that come with various offerings. However, such policies broadly are of two types: term life plan (premiums should be paid only for a fixed term) and whole life policy (premiums should be paid till one's death). Some common types of products include term insurance, whole life, annuity/pension plans, Unit Linked Insurance Plans (ULIPs), endowment policy, and money-back policy.

Jeevan Chhaya
Life Insurance Corporation of India's Jeevan Chhaya Plan

LIC Jeevan Chhaya Plan is a double-benefit plan. Assured sum is paid upon policyholder's death. 25% of "assured sum" is paid in each of the last four years of the term whether the policyholder is alive or dead. Bonuses are paid in the last year. The minimum sum assured is Rs. 50,000. Policy's duration is 18-25 years. Tax benefits and loans can be availed.

iRaksha Plan
Tata AIA Life Insurance iRaksha TROP Plan

Tata AIA Life Insurance iRaksha TROP is a double-benefit online term insurance plan with return of premium. The minimum sum assured is Rs. 50L, there's no upper limit for it. Plan tenure is 10-30 years. Tax benefits can be availed. Women policyholders can enjoy lower rates. Assured sum is paid to nominees upon policyholder's death; total paid premiums are returned to policyholder on maturity.

SBI Life eShield
The SBI Life eShield plan can be purchased online

SBI Life eShield is a pure term online insurance policy with low premium rates. It offers two benefit structures: Level Cover (sum assured remains unchanged) and Increasing Cover (sum assured increases 10% every 5th year). Sum assured is paid as death benefit to nominee. Minimum sum assured is Rs. 35L; there's no maximum limit. Policy term ranges between 5-30 years (depends on protection variants).

Aegon Life iTerm
Aegon Life iTerm Insurance is another popular online plan

Under Aegon Life iTerm Insurance Plan (online), customers can enjoy cover until 100 years of age. The minimum assured sum is Rs. 25L; there's no upper limit; life cover can be increased to meet one's needs. Policy term is 5-62 years. One of the highlights is, 25% of death benefit is paid if policyholder is diagnosed with terminal-illness; they need not pay further premiums.

ICICI Pru Life Raksha
Get life cover at low-premiums with ICICI Prudential Life Raksha

ICICI Prudential Life Raksha plan is an affordable life insurance solution designed to cater to wide range of customers. The assured sum is paid on policyholder's demise even during the policy term. Nominees receive a minimum assured sum of Rs. 50,000 or a maximum of Rs. 5L. The policy duration is only five years. People in the 18-60 years age group are eligible.

Nippon Life Term
Reliance Nippon Life Term plan offers easy, affordable protection

Reliance Nippon Life Term plan is another pure insurance product that offers comprehensive coverage for a particular period at affordable rates. The policy term is 5-30 years, and the minimum sum assured is Rs. 5L; there's no maximum limit. On policyholder's death, the sum assured is paid to the nominee as a lumpsum. However, no maturity benefit is paid to policyholders under this plan.

Share this timeline
Facebook
Whatsapp
Twitter
Linkedin
Ramya Patelkhana
Ramya Patelkhana
Mail
Ramya Patelkhana is a senior editor at NewsBytes. She has nearly seven years of experience in digital journalism and has previously worked with India News and Authint Media. She has a Bachelor's degree in Journalism and Mass Communication from the IK Gujral Punjab Technical University, Kapurthala, and an advanced diploma in Media Studies from IPW, New Delhi.
Latest
India
Insurance
SBI Life Insurance
Life Insurance Corporation of India
ULIP
Latest
5 films that deal with postpartum depression
5 films that deal with postpartum depression Entertainment
French Open, Rafael Nadal vs Novak Djokovic: Rivalry in numbers
French Open, Rafael Nadal vs Novak Djokovic: Rivalry in numbers Sports
Statistical comparison of 'Big Titles' between Djokovic, Federer, and Nadal
Statistical comparison of 'Big Titles' between Djokovic, Federer, and Nadal Sports
Vivo S15 Pro announced with MediaTek Dimensity 8100 SoC
Vivo S15 Pro announced with MediaTek Dimensity 8100 SoC Technology
Top 5 upcoming DC shows to look out for
Top 5 upcoming DC shows to look out for Entertainment
India
COVID-19: India reports 2,364 fresh cases, 10 more deaths
COVID-19: India reports 2,364 fresh cases, 10 more deaths India
Centre eases ban on wheat export: Here are more details
Centre eases ban on wheat export: Here are more details Business
Global wheat prices surge by 6% after India's export ban
Global wheat prices surge by 6% after India's export ban Business
In surprise move, Chinese media defends India's wheat export ban
In surprise move, Chinese media defends India's wheat export ban World
COVID-19: India logs 2,202 new cases; 27 more deaths
COVID-19: India logs 2,202 new cases; 27 more deaths India
More News
Insurance
SC notice to Centre, IRDAI over insurance for mental illnesses
SC notice to Centre, IRDAI over insurance for mental illnesses India
Nirmala Sitharaman announces Rs. 1.7 lakh crore package for poor
Nirmala Sitharaman announces Rs. 1.7 lakh crore package for poor India
Popular government healthcare schemes you need to know about
Popular government healthcare schemes you need to know about India
Buying a pet insurance? Here's what you need to do
Buying a pet insurance? Here's what you need to do Lifestyle
Frenchman dies during sex on work trip, company held "responsible"
Frenchman dies during sex on work trip, company held "responsible" World
More News
SBI Life Insurance
Arijit Basu takes over as SBI Managing Director
Arijit Basu takes over as SBI Managing Director Business
SBI Life Insurance's stock market debut; gains 5% on issue-price
SBI Life Insurance's stock market debut; gains 5% on issue-price Business
SBI Life Insurance's Rs. 8,500 crore IPO receives SEBI nod
SBI Life Insurance's Rs. 8,500 crore IPO receives SEBI nod Business
More News
Life Insurance Corporation of India
Ahead of IPO, anchor investors show massive interest in LIC
Ahead of IPO, anchor investors show massive interest in LIC Business
LIC files papers for India's biggest IPO
LIC files papers for India's biggest IPO India
Life insurers spend Rs. 2,000 crore on COVID-19 death claims
Life insurers spend Rs. 2,000 crore on COVID-19 death claims Business
Government could reserve 10% of LIC IPO for policyholders
Government could reserve 10% of LIC IPO for policyholders Business
Union Budget 2021: Government to launch LIC IPO in FY22
Union Budget 2021: Government to launch LIC IPO in FY22 India
More News
ULIP
#FinancialBytes: 5 apps you need to become financially literate
#FinancialBytes: 5 apps you need to become financially literate Business
#FinancialBytes: 5 apps you need to become financially literate
#FinancialBytes: 5 apps you need to become financially literate Business
#FinancialBytes: 5 apps you need to become financially literate
#FinancialBytes: 5 apps you need to become financially literate Business
#FinancialBytes: 5 apps you need to become financially literate
#FinancialBytes: 5 apps you need to become financially literate Business
#FinancialBytes: 5 popular Life Insurance policies available in India
#FinancialBytes: 5 popular Life Insurance policies available in India Business
More News
Next News Article
Next News Article

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Technology News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Mukesh Ambani Indian Premier League (IPL) Karnataka Samsung Xiaomi West Bengal
Bihar Virat Kohli Rohit Sharma Haryana Narendra Modi Arvind Kejriwal Tamil Nadu Gujarat Yogi Adityanath YouTube
Instagram Hollywood News Uttar Pradesh Kerala Netflix Bollywood News Mamata Banerjee Maruti Suzuki Rahul Gandhi Elon Musk
Shah Rukh Khan Chelsea FC OPPO Akhilesh Yadav Indian Cricket Team Apple Manchester United Salman Khan Cryptocurrency OnePlus
Amitabh Bachchan ICC Women's World Cup Vivo India vs Sri Lanka
About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive IPL 2022 Schedule IPL 2022 Points Table Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2022