Best Life Insurance Plans In India 2023

Life Insurance is the financial security to protect your family and loved ones before and after your death. The insurance policy is an agreement between an insurance company and the policyholder which promises to pay a fixed amount of money in return for a premium after a set period.


Types of Life Insurance

  • Term Insurance
  • Term Return of Premium
  • Whole Life Insurance
  • Investment Plans
  • Market Linked Systematic Investment Plan
  • Guaranteed Return Plan
  • Retirement Plans
  • Child Plan

Term Insurance: The affordable insurance plan can have financial coverage against a specific fixed amount for the policyholder. In case of sudden death, their nominee will get the sum.

Term Return of Premium (TROP): The term insurance gives you the additional features of different benefits; as the policyholder completes the entire policy, all the premiums are paid back, excluding GST.

Whole Life Insurance: This insurance is a policy which has a coverage of 100 years; if you want to give a legacy to your family, then you should go with this.

Investment Plans: Market Linked Systematic plan (ULIP): The Unit Linked investment plan has a unique way of insurance plan that provides dual benefits of wealth creation through investments(in equity, debt or both). Higher-performing ULIPs have 15-20% returns.

Guaranteed Return Plan (Endowment Policy): This has a high return with a life covet with plan offers; it has the investment option for someone looking for a fixed lump sum as maturity after a specific duration.

Retirement Plans: The long-term investment is the for stability purposes during the investment period and the premium amount is paid at regular intervals, which accumulates and grows. The maturity amount is then paid back after retirement based on preference.

Child Plan: These plans are designed for the child for financial security where the returns on the investment help to make the child future bright.

Best Life Insurance Plans In India 2023

Term Insurance

Insurance Plans Entry Age Policy Term Sum Assurance Claim settlement ratio
ICICI iprotect smart 18/65 years 10-67/81 years Rs 50lakh/20Cr 97.9%
HDFC click 2 Protect Life 18/60 years 10/67 years Rs 50lakh/5Cr 98.01%
Max Life Smart Secure Plan 18/60 years 10/67 years Rs 25 lakh/10cr 99.35%
Tata AIA Sampoorn Raksha Supreme 18/60 years 10-67/81 years Rs 60lakh/cr 98.02%
Bajaj Smart Protect Goal 18/50 years 5-67/81 years Rs 50 lakh/2cr 98.48%
PNB Met Life Mera Term Plan Plus 18/50 years 10/(80 minus your current age) years Rs 50 lakh/2cr 98.17%
Canara iSelect Star 18/60 years 5/(80 minus your current age) years Rs 25 lakh/ 2cr 98.57%
Kotak Life e-term plan 18/65 years 5-40/(75 minus your current age) years Rs 25 lakh/no upper limit 98.5%
Edelwesis Tokio Life Total Protect Plus 18/55 years 5 (100 minus your content age) years Rs 50 lakh/1.99cr 97%
India First e-term plus plan 18/65 years 5-40 years Rs 25 Lakh/20cr 96.81%
Birala DigSheild Plan 18/65 years 5-55 years Rs 50 lakh/5 Cr 98.02%
Exide Smart Term Edge Comprehensive 18/65 years 5-40 years Rs 20 lakh/20 cr 98.54%

Investment Plan

Insurance Plan Entry Age Policy term Returns Maturity Value
Birla Sun Life insurance company ltd- capital guarantee solution 18.60 years 10/35 Years 17.06% Rs 74.8 lac
Tata AIA Life insurance company ltd- capital guarantee solution 18/50 years 15/21 Years 19.03% Rs 94.7 Lac
HDFC life insurance company ltd- capital guarantee solution 18/65 years 10/21 years 14.56% Rs 54.7 lac
Max Life insurance Co. ltd capital Guarntee solution 18/50 Years 10/20 years 13.74% Rs 60.5 lac
ICICI Prudential Life Insurance company Ltd capital guarantee solution 18/60 years 10/20 years 11.75% Rs 37.2 lac
Bajaj Allianz life insurance company ltd capital guaranteed solution 18/52 years 10/20 years 15.93% Rs 67.2 lac
PNB Meet life India Insurance Company limited capital guarantee solution 18/60 years 12/20 years 13.36% Rs 61.9 lac
Edelweiss Tokio Insurance Company ltd-capital guatntee solution 18/55 years 10/20 years 13.97% Rs 60.3 lac
HDFC Life Insurace company ltd 200% capital guarntee income solution 7/60 years 10/20 years 14.56% 54.5 lac
Tata AIA life insurance company ltd capital guarantee income solution 18/50 years 15/21 years 15/21 years 19.03%

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