Insurance Companies In India | Latest Insurance Policy 2023 Features Benefits Plans


January 25, 2023 by admin

Insurance Companies in India | Latest Insurance Policy 2023 Features Benefits Plans

There are several insurance companies operating in India, both government-owned and private. Some of the major insurance companies in India include: Insurance Companies in India | Latest Insurance Policy 2023 Features Benefits Plans

  • Life Insurance Corporation of India (LIC)
  • HDFC Life Insurance Company
  • ICICI Prudential Life Insurance Company
  • SBI Life Insurance Company
  • Bajaj Allianz Life Insurance Company
  • Aditya Birla Sun Life Insurance Company
  • Kotak Mahindra Life Insurance Company
  • Max Life Insurance Company
  • Aegon Life Insurance Company
  • Reliance Nippon Life Insurance Company

These companies offer a wide range of insurance products, including life insurance, health insurance, motor insurance, travel insurance, and home insurance.

1. Life Insurance Corporation of India (LIC)

Life Insurance Corporation of India (LIC) is a state-owned insurance company and the largest life insurance company in India. It was established in 1956 and is headquartered in Mumbai. The company offers a wide range of insurance products including life insurance, pension plans, and investment plans.

Some of the popular life insurance policies offered by LIC include:

  • Whole Life Policy
  • Endowment Policy
  • Term Assurance Policy
  • Money Back Policy
  • Children’s Policy
  • Pension Policy
  • Unit Linked Insurance Plans (ULIPs)

LIC also offers various investment and pension plans, including:

  • LIC Jeevan Shanti
  • LIC New Jeevan Anand
  • LIC New Children’s Money Back Plan
  • LIC New Endowment Plan
  • LIC Tech Term
  • LIC Jeevan Labh

LIC operates through a vast network of branches and agents, and also offers online services for policyholders.

LIC Jeevan Shanti

LIC Jeevan Shanti is a pension plan offered by the Life Insurance Corporation of India (LIC). It is a non-linked, non-participating, single premium annuity plan. The plan provides a regular income to the policyholder after the maturity of the policy term. The plan is designed to provide financial security during the post-retirement phase of the life of the policyholder.

The key features of LIC Jeevan Shanti include:

  • Single premium payment option
  • Guaranteed pension for life
  • Annuity rate guaranteed for 5, 7, 10, or 15 years
  • Regular income option
  • Pension can be increased or decreased
  • Option to choose from immediate and deferred annuity
  • Tax benefits as per the Income Tax Act, 1961
  • Minimum age at entry: 30 years
  • Maximum age at entry: 85 years
  • Minimum purchase price: 1.50 Lakh
  • Maximum purchase price: No limit

It is a good plan for those who are looking for a regular income after retirement and want to secure their post-retirement phase with a single premium payment.

LIC New Jeevan Anand

LIC New Jeevan Anand is a traditional participating endowment life insurance plan offered by the Life Insurance Corporation of India (LIC). The plan provides both insurance coverage and savings components. It offers a combination of protection and savings for the policyholder and their family.

The key features of LIC New Jeevan Anand include:

  • Death benefit which is the sum assured plus bonus
  • Maturity benefit which is sum assured plus bonus
  • Bonus is declared by LIC from time to time
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 18 years
  • Maximum age at entry: 50 years
  • Minimum sum assured: 1.50 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 15 years
  • Maximum policy term: 35 years

It is a good plan for those who are looking for a combination of protection and savings and want to provide financial security to their family in case of any unfortunate event.

LIC New Children’s Money Back Plan

LIC New Children’s Money Back Plan is a non-linked, participating, money back life insurance plan offered by the Life Insurance Corporation of India (LIC). The plan is designed to provide financial security to children during their critical stages of life, such as education and marriage.

The key features of LIC New Children’s Money Back Plan include:

  • Survival benefits paid at regular intervals
  • Maturity benefit equal to the sum assured plus bonus, if any
  • Death benefit equal to the sum assured plus bonus, if any
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 0 years (for the child) and 18 years (for the parent)
  • Maximum age at entry: 12 years (for the child) and 55 years (for the parent)
  • Minimum sum assured: 1.00 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 16 years
  • Maximum policy term: 21 years

It is a good plan for parents or guardians who want to secure their children’s future with regular income during the crucial stages of their life such as education and marriage.

LIC New Endowment Plan

LIC New Endowment Plan is a traditional participating endowment life insurance plan offered by the Life Insurance Corporation of India (LIC). The plan provides both insurance coverage and savings components. It offers a combination of protection and savings for the policyholder and their family.

The key features of LIC New Endowment Plan include:

  • Death benefit which is the sum assured plus bonus
  • Maturity benefit which is sum assured plus bonus
  • Bonus is declared by LIC from time to time
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 8 years
  • Maximum age at entry: 55 years
  • Minimum sum assured: 1.50 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 12 years
  • Maximum policy term: 35 years

It is a good plan for those who are looking for a combination of protection and savings and want to provide financial security to their family in case of any unfortunate event. It also provide a maturity benefit at the end of the policy term as well.

LIC Tech Term

LIC Tech Term is a non-linked, non-participating term insurance plan offered by the Life Insurance Corporation of India (LIC). The plan provides life insurance coverage for a specific period of time, and in the event of the policyholder’s death during the policy term, the nominee will receive the sum assured as the death benefit. It is available in both offline and online mode.

The key features of LIC Tech Term include:

  • Death benefit equal to the sum assured
  • No maturity benefit
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 18 years
  • Maximum age at entry: 65 years
  • Minimum sum assured: 25 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 10 years
  • Maximum policy term: 35 years
  • Option to choose from level term and increasing term

It is a good plan for those who are looking for a pure life insurance coverage and want to provide financial security to their family in case of any unfortunate event.

LIC Jeevan Labh

LIC Jeevan Labh is a traditional participating endowment life insurance plan offered by the Life Insurance Corporation of India (LIC). The plan is a combination of protection and savings and is designed to provide financial security to the policyholder and their family in case of any unfortunate event.

The key features of LIC Jeevan Labh include:

  • Death benefit which is the sum assured plus bonus
  • Maturity benefit which is sum assured plus bonus
  • Bonus is declared by LIC from time to time
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 8 years
  • Maximum age at entry: 55 years
  • Minimum sum assured: 1.50 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 16 years
  • Maximum policy term: 30 years

It is a good plan for those who are looking for a combination of protection and savings and want to provide financial security to their family in case of any unfortunate event. The plan also provides maturity benefit at the end of the policy term.

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2. HDFC Life Insurance Company

HDFC Life Insurance Company is a private sector life insurance company in India. It is a joint venture between Housing Development Finance Corporation Limited (HDFC) and Standard Life plc, a leading provider of long-term savings and investment products. The company was established in 2000 and is headquartered in Mumbai. HDFC Life Insurance Company offers a wide range of insurance products including life insurance, health insurance, savings and investment plans, and pension plans.

Some of the popular life insurance policies offered by HDFC Life Insurance Company include:

  • HDFC Life Click 2 Protect Plus
  • HDFC Life Sanchay Plus
  • HDFC Life YoungStar Super Premium
  • HDFC Life Personal Pension Plus
  • HDFC Life Smart Woman Plan

HDFC Life also offers various savings and investment plans, including:

  • HDFC Life ProGrowth Plus
  • HDFC SL Crest
  • HDFC SL ProGrowth Super 2
  • HDFC SL ProGrowth Plus

In addition to its insurance and savings products, HDFC Life Insurance Company also provides a wide range of services, including online policy management, claims support, and financial planning advice. HDFC Life Insurance Company operates through a network of branches and agents across India.

HDFC Life Click 2 Protect Plus

HDFC Life Click 2 Protect Plus is a non-linked, non-participating, online term insurance plan offered by HDFC Life Insurance Company. The plan provides life insurance coverage for a specific period of time, and in the event of the policyholder’s death during the policy term, the nominee will receive the sum assured as the death benefit. The plan is designed to provide financial security to the policyholder’s family in case of any unfortunate event.

The key features of HDFC Life Click 2 Protect Plus include:

  • Death benefit equal to the sum assured
  • No maturity benefit
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 18 years
  • Maximum age at entry: 65 years
  • Minimum sum assured: 25 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 10 years
  • Maximum policy term: 40 years
  • Option to choose from level term, increasing term, and decreasing term
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis

It is a good plan for those who are looking for a pure life insurance coverage and want to provide financial security to their family in case of any unfortunate event. The plan is available online and is easy to buy, manage and claim.

HDFC Life Sanchay Plus

HDFC Life Sanchay Plus is a traditional participating endowment life insurance plan offered by HDFC Life Insurance Company. The plan is a combination of protection and savings, it is designed to provide financial security to the policyholder and their family in case of any unfortunate event and also provides a maturity benefit at the end of the policy term.

The key features of HDFC Life Sanchay Plus include:

  • Death benefit which is the sum assured plus bonus
  • Maturity benefit which is sum assured plus bonus
  • Bonus is declared by HDFC Life from time to time
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 8 years
  • Maximum age at entry: 55 years
  • Minimum sum assured: 1.50 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 12 years
  • Maximum policy term: 30 years
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis

It is a good plan for those who are looking for a combination of protection and savings and want to provide financial security to their family in case of any unfortunate event and also have a savings component.

HDFC Life YoungStar Super Premium

HDFC Life YoungStar Super Premium is a traditional participating endowment life insurance plan for children offered by HDFC Life Insurance Company. The plan provides life insurance coverage for children and also helps in saving for their future. The plan is designed to provide financial security to the policyholder’s children in case of any unfortunate event and also provides a maturity benefit at the end of the policy term.

The key features of HDFC Life YoungStar Super Premium include:

  • Death benefit which is the sum assured plus bonus
  • Maturity benefit which is sum assured plus bonus
  • Bonus is declared by HDFC Life from time to time
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 0 years (for the child) and 18 years (for the parent)
  • Maximum age at entry: 12 years (for the child) and 55 years (for the parent)
  • Minimum sum assured: 1.00 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 16 years
  • Maximum policy term: 21 years
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis

It is a good plan for parents or guardians who want to secure their children’s future with regular income during the crucial stages of their life such as education and marriage and also want to provide financial security to their family in case of any unfortunate event.

HDFC Life Personal Pension Plus

HDFC Life Personal Pension Plus is a non-linked, non-participating, pension plan offered by HDFC Life Insurance Company. The plan provides a regular income to the policyholder after the maturity of the policy term. The plan is designed to provide financial security during the post-retirement phase of the life of the policyholder. It is an annuity plan where the policyholder pays a single premium and in return, the policyholder receives regular income (annuity) for the rest of their life.

The key features of HDFC Life Personal Pension Plus include:

  • Single premium payment option
  • Guaranteed pension for life
  • Annuity rate guaranteed for 5, 7, 10, or 15 years
  • Regular income option
  • Pension can be increased or decreased
  • Option to choose from immediate and deferred annuity
  • Tax benefits as per the Income Tax Act, 1961
  • Minimum age at entry: 30 years
  • Maximum age at entry: 85 years
  • Minimum purchase price: 1.50 Lakh
  • Maximum purchase price: No limit

It is a good plan for those who are looking for a regular income after retirement and want to secure their post-retirement phase with a single premium payment.

HDFC Life Smart Woman Plan

HDFC Life Smart Woman Plan is a non-linked, participating, endowment life insurance plan specifically designed for women offered by HDFC Life Insurance Company. The plan provides life insurance coverage for women and also helps in saving for their future. The plan is designed to provide financial security to the policyholder in case of any unfortunate event and also provides a maturity benefit at the end of the policy term.

The key features of HDFC Life Smart Woman Plan include:

  • Death benefit which is the sum assured plus bonus
  • Maturity benefit which is sum assured plus bonus
  • Bonus is declared by HDFC Life from time to time
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 8 years
  • Maximum age at entry: 55 years
  • Minimum sum assured: 1.50 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 12 years
  • Maximum policy term: 30 years
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis
  • Additional premium discount for Women

It is a good plan for women who are looking for a combination of protection and savings and want to provide financial security to their family in case of any unfortunate event. The plan is specially designed for women and also offers additional premium discount which makes it more affordable for women.

3. ICICI Prudential Life Insurance Company

ICICI Prudential Life Insurance Company is a private sector life insurance company in India. It is a joint venture between ICICI Bank, one of India’s largest private sector banks, and Prudential plc, a leading international financial services group headquartered in the United Kingdom. The company was established in 2000 and is headquartered in Mumbai. ICICI Prudential Life Insurance Company offers a wide range of insurance products including life insurance, health insurance, savings and investment plans, and pension plans.

Some of the popular life insurance policies offered by ICICI Prudential Life Insurance Company include:

  • ICICI Pru iProtect Smart
  • ICICI Pru Easy Protect
  • ICICI Pru Guaranteed Savings Plan
  • ICICI Pru Elite Wealth II
  • ICICI Pru Assured Income Plan

ICICI Prudential also offers various savings and investment plans, including:

  • ICICI Pru Wealth Builder II
  • ICICI Pru Elite Wealth Super
  • ICICI Pru Equity Savings Fund
  • ICICI Pru Focused Bluechip Equity Fund

In addition to its insurance and savings products, ICICI Prudential Life Insurance Company also provides a wide range of services, including online policy management, claims support, and financial planning advice. ICICI Prudential Life Insurance Company operates through a network of branches and agents across India.

ICICI Pru iProtect Smart

ICICI Pru iProtect Smart is a non-linked, non-participating, online term insurance plan offered by ICICI Prudential Life Insurance Company. The plan provides life insurance coverage for a specific period of time, and in the event of the policyholder’s death during the policy term, the nominee will receive the sum assured as the death benefit. The plan is designed to provide financial security to the policyholder’s family in case of any unfortunate event.

The key features of ICICI Pru iProtect Smart include:

  • Death benefit equal to the sum assured
  • No maturity benefit
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 18 years
  • Maximum age at entry: 65 years
  • Minimum sum assured: 25 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 10 years
  • Maximum policy term: 40 years
  • Option to choose from level term, increasing term, and decreasing term
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis
  • Additional riders available for Critical illness and Accidental death
  • Available for purchase online

It is a good plan for those who are looking for a pure life insurance coverage and want to provide financial security to their family in case of any unfortunate event. The plan is available online and is easy to buy, manage and claim. The added riders for critical illness and accidental death provide additional coverage and protection.

ICICI Pru Easy Protect

ICICI Pru Easy Protect is a non-linked, non-participating, term insurance plan offered by ICICI Prudential Life Insurance Company. The plan provides life insurance coverage for a specific period of time, and in the event of the policyholder’s death during the policy term, the nominee will receive the sum assured as the death benefit. The plan is designed to provide financial security to the policyholder’s family in case of any unfortunate event.

The key features of ICICI Pru Easy Protect include:

  • Death benefit equal to the sum assured
  • No maturity benefit
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 18 years
  • Maximum age at entry: 65 years
  • Minimum sum assured: 25 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 10 years
  • Maximum policy term: 35 years
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis
  • Option to add accidental death and dismemberment rider
  • Available for purchase online

It is a good plan for those who are looking for a pure life insurance coverage and want to provide financial security to their family in case of any unfortunate event. The plan is available online and is easy to buy, manage and claim. The added accidental death and dismemberment rider provide additional coverage and protection.

ICICI Pru Guaranteed Savings Plan

ICICI Pru Guaranteed Savings Plan is a non-linked, non-participating, endowment life insurance plan offered by ICICI Prudential Life Insurance Company. The plan is designed to provide financial security to the policyholder in case of any unfortunate event and also provides a maturity benefit at the end of the policy term.

The key features of ICICI Pru Guaranteed Savings Plan include:

  • Death benefit which is the sum assured plus bonus
  • Maturity benefit which is sum assured plus bonus
  • Bonus is declared by ICICI Prudential from time to time
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 8 years
  • Maximum age at entry: 55 years
  • Minimum sum assured: 1.50 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 12 years
  • Maximum policy term: 30 years
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis
  • Option to add accidental death and dismemberment rider
  • Available for purchase online

It is a good plan for those who are looking for a combination of protection and savings and want to provide financial security to their family in case of any unfortunate event. The plan is available online and is easy to buy, manage and claim. The added accidental death and dismemberment rider provide additional coverage and protection.

ICICI Pru Elite Wealth II

ICICI Pru Elite Wealth II is a traditional participating endowment life insurance plan offered by ICICI Prudential Life Insurance Company. The plan is a combination of protection and savings and is designed to provide financial security to the policyholder and their family in case of any unfortunate event. The plan also provides a maturity benefit at the end of the policy term.

The key features of ICICI Pru Elite Wealth II include:

  • Death benefit which is the sum assured plus bonus
  • Maturity benefit which is sum assured plus bonus
  • Bonus is declared by ICICI Prudential from time to time
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 18 years
  • Maximum age at entry: 55 years
  • Minimum sum assured: 5 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 12 years
  • Maximum policy term: 35 years
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis
  • Option to add accidental death and dismemberment rider
  • Available for purchase online

It is a good plan for those who are looking for a combination of protection and savings and want to provide financial security to their family in case of any unfortunate event. The plan is available online and is easy to buy, manage and claim. The added accidental death and dismemberment rider provide additional coverage and protection.

ICICI Pru Assured Income Plan

ICICI Pru Assured Income Plan is a non-linked, non-participating, annuity plan offered by ICICI Prudential Life Insurance Company. The plan is designed to provide a regular income to the policyholder after the maturity of the policy term. The plan is an annuity plan where the policyholder pays a single premium or multiple premiums and in return, the policyholder receives regular income (annuity) for the rest of their life or for a certain period of time.

The key features of ICICI Pru Assured Income Plan include:

  • Single premium and regular premium options
  • Guaranteed pension for life
  • Annuity rate guaranteed for 5, 7, 10, or 15 years
  • Regular income option
  • Pension can be increased or decreased
  • Option to choose from immediate and deferred annuity
  • Tax benefits as per the Income Tax Act, 1961
  • Minimum age at entry: 30 years
  • Maximum age at entry: 85 years
  • Minimum purchase price: 1.50 Lakh
  • Maximum purchase price: No limit

It is a good plan for those who are looking for a regular income after retirement and want to secure their post-retirement phase with a single premium payment or regular premium payments. The plan also offers the flexibility to choose from immediate and deferred annuity options.

4. SBI Life Insurance Company

SBI Life Insurance Company is a private sector life insurance company in India. It is a joint venture between State Bank of India, the largest public sector bank in India and BNP Paribas Cardif, a leading international provider of insurance and asset management services. The company was established in 2001 and is headquartered in Mumbai. SBI Life Insurance Company offers a wide range of insurance products including life insurance, health insurance, savings and investment plans, and pension plans.

Some of the popular life insurance policies offered by SBI Life Insurance Company include:

  • SBI Life eShield
  • SBI Life Smart Shield
  • SBI Life Saral Shield
  • SBI Life Smart Elite
  • SBI Life eIncome Shield

SBI Life also offers various savings and investment plans, including:

  • SBI Life Wealth Assure
  • SBI Life Smart Savings Insurance Plan
  • SBI Life Smart Humsafar
  • SBI Life Smart Scholar

In addition to its insurance and savings products, SBI Life Insurance Company also provides a wide range of services, including online policy management, claims support, and financial planning advice. SBI Life Insurance Company operates through a network of branches and agents across India.

SBI Life eShield

SBI Life eShield is a non-linked, non-participating, online term insurance plan offered by SBI Life Insurance Company. The plan provides life insurance coverage for a specific period of time, and in the event of the policyholder’s death during the policy term, the nominee will receive the sum assured as the death benefit. The plan is designed to provide financial security to the policyholder’s family in case of any unfortunate event.

The key features of SBI Life eShield include:

  • Death benefit equal to the sum assured
  • No maturity benefit
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 18 years
  • Maximum age at entry: 65 years
  • Minimum sum assured: 25 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 10 years
  • Maximum policy term: 35 years
  • Option to choose from level term, increasing term, and decreasing term
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis
  • Available for purchase online

It is a good plan for those who are looking for a pure life insurance coverage and want to provide financial security to their family in case of any unfortunate event. The plan is available online and is easy to buy, manage and claim.

SBI Life Smart Shield

SBI Life Smart Shield is a non-linked, non-participating, term insurance plan offered by SBI Life Insurance Company. The plan provides life insurance coverage for a specific period of time, and in the event of the policyholder’s death during the policy term, the nominee will receive the sum assured as the death benefit. The plan is designed to provide financial security to the policyholder’s family in case of any unfortunate event.

The key features of SBI Life Smart Shield include:

  • Death benefit equal to the sum assured
  • No maturity benefit
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 18 years
  • Maximum age at entry: 65 years
  • Minimum sum assured: 25 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 10 years
  • Maximum policy term: 35 years
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis
  • Option to add accidental death and dismemberment rider
  • Available for purchase online

It is a good plan for those who are looking for a pure life insurance coverage and want to provide financial security to their family in case of any unfortunate event. The plan is available online and is easy to buy, manage and claim. The added accidental death and dismemberment rider provide additional coverage and protection.

SBI Life Saral Shield

SBI Life Saral Shield is a term insurance plan offered by SBI Life Insurance Company. The plan provides life insurance coverage for a specific period of time, and in the event of the policyholder’s death during the policy term, the nominee will receive the sum assured as the death benefit. The plan is designed to provide financial security to the policyholder’s family in case of any unfortunate event.

The key features of SBI Life Saral Shield include:

  • Death benefit equal to the sum assured
  • No maturity benefit
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 18 years
  • Maximum age at entry: 65 years
  • Minimum sum assured: 25 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 10 years
  • Maximum policy term: 35 years
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis
  • Available for purchase online

It is a good plan for those who are looking for a pure life insurance coverage and want to provide financial security to their family in case of any unfortunate event. The plan is available online and is easy to buy, manage and claim. It’s a simple and affordable plan without any additional riders.

SBI Life Smart Elite

SBI Life Smart Elite is a non-linked, non-participating, endowment life insurance plan offered by SBI Life Insurance Company. The plan is designed to provide financial security to the policyholder in case of any unfortunate event and also provides a maturity benefit at the end of the policy term.

The key features of SBI Life Smart Elite include:

  • Death benefit which is the sum assured plus bonus
  • Maturity benefit which is sum assured plus bonus
  • Bonus is declared by SBI Life from time to time
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 18 years
  • Maximum age at entry: 55 years
  • Minimum sum assured: 5 Lakh
  • Maximum sum assured: No limit
  • Minimum policy term: 12 years
  • Maximum policy term: 30 years
  • Premiums can be paid on a monthly, quarterly, half-yearly or annual basis
  • Available for purchase online

It is a good plan for those who are looking for a combination of protection and savings and want to provide financial security to their family in case of any unfortunate event. The plan is available online and is easy to buy, manage and claim. It’s a simple and affordable plan without any additional riders.

SBI Life eIncome Shield

SBI Life eIncome Shield is a non-linked, non-participating, annuity plan offered by SBI Life Insurance Company. The plan is designed to provide a regular income to the policyholder after the maturity of the policy term. The plan is an annuity plan where the policyholder pays a single premium and in return, the policyholder receives regular income (annuity) for the rest of their life or for a certain period of time.

The key features of SBI Life eIncome Shield include:

  • Single premium and regular premium options
  • Guaranteed pension for life
  • Tax benefits as per Income Tax Act, 1961
  • Minimum age at entry: 30 years
  • Maximum age at entry: 85 years
  • Minimum purchase price: 1.50 Lakh
  • Maximum purchase price: No limit
  • Available for purchase online

It is a good plan for those who are looking for a regular income after retirement and want to secure their post-retirement phase with a single premium payment. The plan is available online and is easy to buy, manage and claim.

5. Bajaj Allianz Life Insurance Company

Bajaj Allianz Life Insurance Company is a joint venture between Bajaj Finserv Limited and Allianz SE, two of the leading companies in their respective industries. The company offers a wide range of life insurance products, including term insurance, endowment plans, money back plans, and ULIPs, as well as retirement and savings plans. They also provide a range of health insurance products and services.

The company has a strong presence in India with a network of branches and agents spread across the country. They also have a strong digital presence and offer various online services, such as policy renewal, premium payment, and claims settlement.

Bajaj Allianz Life Insurance Company has received various awards and accolades for their products and services, including being awarded the “Best Life Insurance Company” by the World HRD Congress and “Best Life Insurance Company – Rural” by the ABP News-Nielsen survey.

6. Aditya Birla Sun Life Insurance Company

Aditya Birla Sun Life Insurance Company is a private sector life insurance company in India. It is a joint venture between the Aditya Birla Group and Sun Life Financial Inc. The company offers a wide range of life insurance products such as term insurance, endowment plans, money back plans, ULIPs, pension plans and health insurance. The company has a strong presence in India with a network of branches and agents spread across the country. They also have a strong digital presence and offer various online services, such as policy renewal, premium payment, and claims settlement.

The company has received various awards and accolades for their products and services, such as being awarded the “Best Life Insurance Company” by the Outlook Money Award for the year 2020-2021 and “Best Life Insurance Company” by the ABP News-Nielsen survey in 2018.

7. Kotak Mahindra Life Insurance Company

Kotak Mahindra Life Insurance Company is an Indian life insurance company that is a joint venture between Kotak Mahindra Bank and Old Mutual plc. It offers a wide range of life insurance products, including term insurance, endowment plans, and pension plans. The company operates through a network of branches and agents across India.

In addition to traditional life insurance products, Kotak Mahindra Life Insurance also offers a range of investment-linked insurance plans, which combine the benefits of life insurance with investment opportunities. The company also offers group insurance plans for companies and organizations.

Kotak Mahindra Life Insurance is committed to providing excellent customer service and has implemented various digital initiatives to make the process of buying and servicing policies more convenient for customers.

The company has been recognized for its products and services and has received several awards, including the “Best Product Innovation – ULIP” award at the Indian Insurance Awards in 2017, and the “Best Corporate Agent” award at the Indian Insurance Awards in 2018.

8. Max Life Insurance Company

Max Life Insurance Company is an Indian life insurance company that is a joint venture between Max Financial Services and Mitsui Sumitomo Insurance Company. It is one of the leading private sector life insurance companies in India. The company offers a wide range of life insurance products, including term insurance, endowment plans, and pension plans. The company operates through a network of branches and agents across India.

Max Life Insurance is known for its strong focus on customer service and has implemented various digital initiatives to make the process of buying and servicing policies more convenient for customers. The company also has a strong online presence, which allows customers to purchase policies, check their policy details, and make premium payments online.

The company has received several awards and accolades for its products and services, including the “Best Life Insurer – Claims Service” award at the Indian Insurance Awards in 2016 and the “Best Life Insurer – Customer Service” award at the Indian Insurance Awards in 2017.

9. Aegon Life Insurance Company

Aegon Life Insurance Company is a life insurance company based in India. It is a joint venture between Aegon N.V. and Bennett, Coleman & Co. Ltd. The company offers a wide range of insurance products including term insurance, endowment plans, and pension plans. The company operates through a network of branches and agents across India, and also have an online presence.

Aegon Life Insurance is known for its innovative insurance products, which are designed to meet the diverse needs of customers. The company also focuses on digitalization and has implemented various digital initiatives to make the process of buying and servicing policies more convenient for customers.

The company has received several awards and accolades for its products and services, including the “Best Product Innovation – ULIP” award at the Indian Insurance Awards in 2018.

The company’s mission is to make insurance simple and accessible to all, and to be the most trusted life insurer in India.

10. Reliance Nippon Life Insurance Company

Reliance Nippon Life Insurance Company is an Indian life insurance company that is a joint venture between Reliance Capital and Nippon Life Insurance Company. It is one of the leading private sector life insurance companies in India. The company offers a wide range of life insurance products, including term insurance, endowment plans, and pension plans. The company operates through a network of branches and agents across India, and also has a strong online presence, which allows customers to purchase policies, check their policy details, and make premium payments online.

Reliance Nippon Life Insurance is known for its strong focus on customer service and has implemented various digital initiatives to make the process of buying and servicing policies more convenient for customers. The company also has a strong online presence, which allows customers to purchase policies, check their policy details, and make premium payments online.

The company has received several awards and accolades for its products and services, including the “Best Life Insurer – Claims Service” award at the Indian Insurance Awards in 2016 and the “Best Life Insurer – Customer Service” award at the Indian Insurance Awards in 2017.

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