Insurer: Birla Sun Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

Accidental death rider available

Loan facility

Maximum Entry Age: 60 Years

Policy Term:  20 Years

Monthly Base Premium: Rs 400- Rs 5,000

Premium Payment Frequency: Yearly, Half Yearly, Quarterly, Monthly

What benefits does Birla Sun Life Bachat Endowment offer?

Death benefit:

In case of unfortunate death of the life insured, higher of Sum Assured or premiums paid are payable. Additionally, Bachat additions and loyalty additions are also payable.

Maturity Benefit:

At the end of policy term, base premium paid along with Bachat additions earned and loyalty additions will be paid.

Bachat Addition:

These are added at the end of every policy year.

Bachat Addition= Sum of all monthly base premium paid x Bachat addition rate

The bachat addition rate will be declared every year.

Loyalty Addition:

These will be added on maturity or death of life insured.

Riders:

You can opt for the Accidental death benefit rider with the plan.

Loans:

You can apply for loans against the policy from 3^rd policy year onwards. You can get maximum of 90% of the surrender value.

Under Section 10(10D) death claim is completely tax free.

Reinstatement: You can revive lapsed policy within 2 years from due date of the first unpaid premium.

Surrender Value: You can surrender the policy after 1^st policy year. The guaranteed surrender value will be equivalent to 35% of all premiums paid less the first years’ premium.

Free Look Period: Bachat Endowment plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: IDBI Federal Insurance

Category: Traditional Plan

Objective: Financial protection of family and guaranteed returns

Major USP of IDBI Federal Lifesurance

Guaranteed Additions

Bonuses

Discounts

Loans

Maximum Entry Age:  65 Years

Maximum Age at Maturity: 75 Years

Policy Term: 10, 15, 20, 25 Years

Premium Payment Term: 5, 6 Years, Policy term

Minimum Premium: Rs 20,000 per annum

Premium Payment Frequency: Yearly, Half Yearly, Quarterly, Monthly

In case the Life Assured passes away during the policy term, the nominee will receive Sum Assured along with vested guaranteed additions and vested bonuses.

Maturity Benefit:

At the end of policy term, Sum Assured along with guaranteed additions and bonuses will be paid.

Guaranteed Addition:

These are equal to Rs 50 per 1000 of Sum Assured and are added for the first 5 years.

Bonuses:

This will be added after the fifth policy year and bonuses will depend on performance of the fund.

Discount:

There will rebate on premium for Sum Assured equal and above Rs 10 lacs. Also further discount is provided to female policyholder.

Loans:

You can apply for loans against the policy. You can get maximum of 80% of the surrender value.

Under Section 10(10D) death claim is completely tax free.

Grace Period: 30 days are provided to renew the policy after the premium due date. For monthly modes, 15 days are provided.

Free Look Period: Lifesurance plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: IDBI Federal Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

Single Premium

Large Sum Assured Rebate

Maximum Entry Age: 60 Years minus Policy term

Maximum Age at Maturity: 60 Years

Policy Term:  5, 7, 10, 15 or 20 Years

Premium Payment Term: Single

Minimum Premium: Rs 20,000 per annum

What benefits does IDBI Federal Bondsurance Advantage offer? 

Death benefit:

The policyholder can opt for any of the following death benefits:

Option A: 5 times the single premium amount will be paid. Joint life cover is also available with this option.

Option B: If death occurs within the first policy year, 5 times the single premium will be paid. If death occurs after the first year, maturity amount will be paid.

Option C: death benefit would be equal to 1.1 times single premium amount.

Maturity Benefit:

At the end of policy term, amount chosen initially by you will be paid.

Discounts:

If opted for Sum Assured of INR 1.5 lacs or more, discounts on premium will be made.

Loan:

Not available from insurer.

Under Section 10(10D) death claim is completely tax free.

Free Look Period: Bondsurance Advantage plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: IDBI Federal Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

Single Premium

Large Sum Assured Rebate

Maximum Entry Age: 50 Years

Maximum Age at Maturity: 60 Years

Policy Term:  5/10 Years

Premium Payment Term: Single

Minimum Premium: Rs 20,000 per annum

What benefits does IDBI Federal Bondsurance offer? 

Death benefit:

In case of unfortunate death of the life insured, 5 times the single premium amount will be paid.

Maturity Benefit:

At the end of policy term, amount chosen initially by you will be paid.

Discounts:

If opted for Sum Assured of INR 1.5 lacs or more, discounts on premium will be made.

Loan:

Not available from insurer.

Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.

Under Section 10(10D) death claim is completely tax free.

Free Look Period: Bondsurance plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: IndiaFirst Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

Bonuses

Term Rider

Loan facility

Maximum Entry Age: 65 Years

Maximum Age at Maturity: 75 Years

Policy Term:  10 to 30 Years

Premium Payment Term: Regular

Minimum Premium: Rs 12,000 per annum

Premium Payment Mode: Yearly, Half Yearly or Monthly

What benefits does IndiaFirst Secure Save offer? 

Death benefit:

In case of unfortunate death of the life insured, Sum Assured plus bonuses will be paid.

Maturity Benefit:

At the end of policy term, Sum Assured along with bonuses will be paid.

Bonus:

At the end of each financial year, bonus will be declared and added to the policy fund amount.

Rider

You can opt for term rider with the basic plan.

Loan:

You can apply for loans and the maximum loan amount that can be availed would be 90% of the surrender value.

Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.

Under Section 10(10D) death claim is completely tax free.

Free Look Period: Secure Save plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Plan Name: Endowment Advantage

Insurer: AEGON Religare Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

-Bonuses

-Large Sum Assured Rebate

-Loan facility

Maximum Entry Age: 60 Years

Maximum Age at Maturity: 75 Years

Policy Term:  15/20/25 Years

Premium Payment Term: 7/10/regular

Minimum Premium: Rs 6,000 per annum

Premium Payment Mode: Yearly, Half Yearly or Monthly

What benefits does AEGON Religare Endowment Advantage offer? 

Death benefit:

In case of unfortunate death of the life insured, 100% of Sum Assured plus bonuses will be paid.

Survival Benefit:

25% of Sum Assured will be paid 3 years before maturity of the policy.

Maturity Benefit:

At the end of policy term, Sum Assured along with bonuses will be paid.

Bonus:

At the end of each financial year, bonus will be declared and added to the policy fund amount.

Discounts:

If opted for Sum Assured of INR 2.5 lacs or more, discounts on premium will be made.

Loan:

You can apply for loans against the policy from the 4^th policy year and the maximum loan amount that can be availed would be 60% of the surrender value.

Under Section 10(10D) death claim is completely tax free.

Free Look Period: Endowment Advantage plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: AEGON Religare Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

-Bonuses

-Large Sum Assured Rebate

-Loan facility

Maximum Entry Age: 60 Years

Maximum Age at Maturity: 75 Years

Policy Term:  15/20/25 Years

Premium Payment Term: 5/7/10/regular

Minimum Premium: Rs 6,000 per annum

Premium Payment Mode: Yearly, Half Yearly or Monthly

What benefits does AEGON Religare Endowment offer?

Death benefit:

In case of unfortunate death of the life insured, 200% of Sum Assured or 100% of Sum Assured plus bonuses will be paid.

If death occurs after the policy term but within 5 years from the date of maturity, Sum Assured will be paid.

Maturity Benefit:

At the end of policy term, Sum Assured along with bonuses will be paid.

Bonus:

At the end of each financial year, bonus will be declared and added to the policy fund amount.

Discounts:

If opted for Sum Assured of INR 2.5 lacs or more, discounts on premium will be made.

Loan:

You can apply for loans against the policy from the 4^th policy year and the maximum loan amount that can be availed would be 60% of the surrender value.

Under Section 10(10D) death claim is completely tax free.

Free Look Period: Endowment plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Plan Name: Assure 21 Years Money Saver

Insurer: Tata AIG Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and periodic returns on investment

Riders

Premium loan

Minimum Entry Age – 31 days

Maximum Entry Age - 55 Years

Maximum Age at Maturity: 76 Years

Policy Term – 21 Years

Premium Payment Term- 21 Years

What benefits does Tata AIG Assure 21 Years Money Saver offer?

Death benefit:

In the event of unfortunate of the life insured, death benefit is equal to basic Sum Assured along with guaranteed loyalty addition and bonuses are paid.

Money Back:

Every 3 years from the 3^rd policy year onwards, 10% of Sum Assured will be paid to you.

Maturity Benefit:

The maturity amount is equivalent to 40% of the Sum Assured along with loyalty additions and bonuses will be paid.

Riders:

You can add Accidental death, Accidental death and dismemberment, Waiver of premium, Critical illness, term rider, renewable term rider and term to age 60 benefit riders with the base plan.

Automatic Premium Loan:

In case the premium is not paid within the grace period, the due premium will be advanced as loan to you to keep the policy active. This facility is only after the policy acquired surrender value.

Are there any tax benefits?

Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.

Under Section 10(10D) death claim is completely tax free.

Surrender Value: After three policy years, the policy acquires guaranteed surrender value which will be equivalent to 30% of the all the premiums paid excluding first year’s premium.

Free Look Period: Assure 21 Years Money Saver plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: Tata AIG Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

Riders

Premium loan

Maximum Entry Age: 65 Years

Maximum Age at Maturity: 75 Years

Policy Term:  10/20/30 Years

Premium Payment Term: Regular Term

Minimum Sum Assured: Rs 25,000 per annum

Premium Payment Mode: Yearly, Half Yearly or Monthly

What benefits does Tata AIG Life Assure 10 Years/20 Years/30 Years Security and Growth offer? 

Death benefit:

In case of unfortunate death of the life insured, Sum Assured along with bonuses will be paid.

Maturity Benefit:

At the end of policy term, Sum Assured with vested bonuses will be paid.

Riders:

You can add Accidental death, Accidental death and dismemberment, Waiver of premium, Critical illness, term rider, renewable term rider and term to age 60 benefit riders with the base plan.

Automatic Premium Loan:

In case the premium is not paid within the grace period, the due premium will be advanced as loan to you to keep the policy active. This facility is only after the policy acquired surrender value.

Are there any tax benefits?

Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.

Under Section 10(10D) death claim is completely tax free.

Free Look Period: Life Assure 10 Years/20 Years/30 Years Security and Growth plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.

Insurer: Tata AIG Life Insurance

Category: Traditional Plan

Objective: Financial protection of family and returns on investment

Double life cover

Riders available

High Sum Assured discount

Maximum Entry Age: 50 Years

Maximum Age at Maturity: 65 Years

Policy Term:  10/15/20 Years

Minimum Sum Assured: Rs 100,000 per annum

Premium Payment Mode: Yearly, Half Yearly, Quarterly or Monthly

What benefits does Tata AIG Maha Guarantee offer? 

Death benefit:

In case of unfortunate death of the life insured, twice the Sum Assured with accrued guaranteed additions will be paid.

Maturity Benefit:

At the end of policy term, Sum Assured along with guaranteed additions will be paid.

Regular Guaranteed Additions:

At the end of each policy year, 2.5% to 5% of Sum Assured depending on the term will be added to the policy amount.

Maturity Addition:

Depending on the policy term, 10% to 50% of Sum Assured is added on maturity.

Riders:

You can opt for accidental death benefit rider with the plan.

Discounts:

If opted for Sum Assured of INR 2 lacs or more, you can get up to 8% discounts on premium will be made.

Under Section 10(10D) death claim is completely tax free.

What else should I know about Tata AIG Maha Guarantee?

Free Look Period: Maha Guarantee Flexi plan can be cancelled within 15 days of receiving the policy contract. A written application can be submitted to any branch for the same. The premium will be paid back minus some charges like stamp duty, medical reports.