5 Best Life Insurance Policies in India 2024

Life insurance is a type of contract between the insurance company and the insured person, where the latter pays the premium amount in return for the cover sum assured from the insurer company.

For every customer sector across the country, a plethora of life insurance products such as zero-cost term insurance, endowment plans, ULIPs, and annuity plans, are available to cater to the unique needs of every individual.

List of Best Life Insurance Policies in India in 2024.

Detailed Overview of Best Life insurance policies as of 2024

1. Max Life Online Term Plan Plus

   Max Life Insurance is a joint venture of Max Group of Insurance (USA) and Axis Bank Ltd (India). Max Life Insurance started its operation in 2003 as a general insurance provider.

   Max Life Online Term Plan Plus Basic Life Cover is a pure protection, non-linked term insurance plan with the availability to choose among three death benefit options. You can cover yourself up to 85 years of age.

2. HDFC Life Click 2 Protect

   HDFC Life Insurance is a joint venture between the Housing Development Finance Corporation (India) and a British financial company. HDFC Life Insurance started its operation in 2003 as a general insurance provider.

   HDFC Life Click 2 Protect is a pure-term insurance plan with dual benefits (death + survival); with the option of auto balance death and critical illness, you can avail the life cover for a whole life.

3. Bharti Axa Life Elite Secure

   Bharti Axa Life Insurance is a joint venture between Bharti Financial Institutions and Axa Group of Insurance. Bharti Axa started its operation in 2003 as a general insurance provider.

   Bharti Axa Life Elite secure is a traditional non-participating term insurance plan with the option of regular monthly income as a maturity benefit. You can cover yourself by up to 80 years of age.

4. PNB MetLife Mera Term Plan

   PNB Metlife Insurance is a joint venture between PNB Bank (India) and MetLife Group of Insurance (USA). PNB Metlife started its business in 2003 as a general insurance provider.

   PNB Metlife Mera term plan is a pure, non-linked term insurance plan with two plan options of: life plus and life plus health. You can cover yourself till 99 years along with getting back all the paid premiums if you outlive the entire policy term.

5. Life Insurance Corporation of India

   Life Insurance Corporation of India (LIC) is the first and only government-owned insurance provider. LIC started its business in 1956 as an insurance provider.

   LIC Jeevan Pragati plan is a non-linked profit plan that offers dual benefits of death and saving. With the minimum sum assured of 1 lac, you can cover yourself for up to 65 years of age.

How to Choose the Best Life Insurance Policies in 2024

The best life insurance policy for you will vary depending on your circumstances such as:

• Financial needs - for choosing a good life insurance policy for yourself in India, you should estimate your financial needs. Take a note of your liabilities and family’s financial goals and then choose a suitable sum assured for yourself.
• Health - It is important to take into consideration the pre-existing health conditions that you might have and choose a plan accordingly. If you have a habit of smoking then your premiums might be on the higher side. Choose riders if you think you can suffer from a critical or terminal illness or have a risky job that can lead to an accident or disability.
• Age - It is best to buy a life cover when you are young and healthy as it will lead to cheaper premiums.
• Income - Your sum assured also depends on your monthly income so choose one which can lead to a fair amount of premiums. Refrain from over-insuring yourself.

However, every life insurance policy has its advantages and disadvantages such as basic term life insurance is typically more affordable and provides coverage for a specific period. But, whole life insurance offers lifelong coverage and a survival benefit. It’s essential to first properly examine your needs before choosing any life insurance policies.

For detailed info about life insurance policies and to choose the best life insurance policy for yourself, contact policyx.com 24X7 through the details mentioned below:

Contact no: 1800-4200-269

How PolicyX Can Help You?

PolicyX.com is India’s top insurance web aggregator, with its top-notch services and 24/7 assistance. It has gained the trust of more than 1 lac customers. PolicyX.com provides expert guidance for choosing the best term and health insurance plan from the top insurance companies in India.

Policyx.com offers free-of-cost services to compare the best insurance products that affordably fulfil your requirements, along with dedicated claims support & you can have a hassle-free customer experience of purchasing an insurance plan through policyx.com.

In a nutshell

Does it bother you to find the best life insurance plan for yourself? Therefore, I have got your back with a list of top life insurance plans offered by well-known insurance providers. Hence, In the above article, we’ve mentioned the list of the top life insurance plans in India in 2024, which are classified based on CSR and solvency ratio.