Term Policies

Whole Life Insurance Policies

Endowment Plans

Unit Linked Insurance Plans

Money Back Plans

Pension/Annuity Plans

Overview

Term life insurance plans are the simplest form of life insurance policies

These policies are participatory in nature with saving plus protection plans

Investment plus protection plans

These policies are participatory in nature and are unit linked. Such plans are insurance cum investment plans

Participatory in nature with saving plus protection plans

Non-participatory in nature. These are the traditional form of plans

Term*

Usually ranges from 5 to 30 years

This covers the whole life of the insured. Policy term can be 40 years

Generally ranges between 10 to 35 years

Term ranged between 10 to 20 years

Generally ranges from 5 to 25 years

No fixed term

Maturity Benefits

You are not paid any maturity benefit on the survival

You are paid the maturity benefits while you reach a certain age (may be between 80 to 100 years)

You will be paid the maturity benefits on your survival at the end of the policy term

You can avail the maturity benefits on your survival at the end of the policy term

You are given the survival benefits on the maturity of your policy

No maturity benefit is offered. You are entitled a regular pension for the specified policy term

Death Benefits

In case of your demise, while the life insurance policy is active, a sum assured is paid to the beneficiary.

Death benefits are paid to the beneficiary in case of your demise while the policy is in place.

The death benefit is paid to the beneficiary on your demise. It also includes the accrued bonuses.

Death benefit is paid to the beneficiary in case of your demise while the policy is in place

Death benefits are paid to the beneficiary in case of your demise while the policy is still active. This benefit is not included in the other pay-outs

A few plans provide a provision to return the amount invested in case of your demise.

Additional Benefits

Term Insurance offer maximum cover at a lower premium. You can choose for variants of the pure term schemes which offer maturity benefits.

Benefits paid on death or maturity comprise of bonus component with the sum assured.

Investments accrue profits that are paid in the form of a bonus.

Investments accrue profits and are paid in the form of a bonus. You can claim tax exemptions also.

You are given the regular monetary benefits while the policy is active, with such amount not having any impact on the death benefit.

A source of regular income after the retirement.

Premium Costs

Term plans offer Cost-effective premiums. This is the lowest among all the classes of policy.

These plans usually have high premiums

These plans have higher premium costs

The premiums of these schemes are higher owing to the investment cost.

Affordable and cost-effective premiums

These schemes have moderately priced premiums, with many plans requiring single premium payment

Ideal for

These schemes are ideal for the individuals who are seeking to safeguard their financial interest of their loved ones without paying excessive premiums.

The whole life insurance plans are ideal for those who wish to safeguard the interest of their loved ones and secure the future of their loved ones regardless of what might happen to them

These schemes are perfect for the individuals who can pay higher premiums and seek to secure themselves and boost their investment

This is a best-suited plan for those with a medium-term investment goal to expand their portfolio. Moreover, it is an ideal scheme for people with high income and an extraordinary investment sense.

People looking for security their life but want to earn money at regular interval of time must choose this scheme. Best-suited for individuals seeking protection plus investment plans.

This scheme is an ideal option for the individuals who worry about their retirement life and the ones who want to produce a source of regular income after retirement.