• Home
  • Life Insurance

Life Insurance

Life Insurance
🏢
Network 35+ reliable
insurers
🎧
Legacy 18+ years
& counting
🔒
100% Privacy Zero
Spam
Highly rated insurance website 4.1 / 5
★ ★ ★ ★ ★

Please Enter Your Details

Date of Birth
Select Date
SELECT DATE
— — ——
Mobile Number
Email Address
Full Name
Pin Code

By clicking I agree to all T&C

At the end of the day, our family is all we have. You can achieve every goal in life, climb the ladder of success and fulfil all your dreams - but only seeing your family safe and happy can make your heart truly smile. Make you feel complete. And since they mean so much to you, it's unarguably important to protect them from the uncertainties of life. To take care of them, even in your absence. More so, if they are dependent on you.

Life Insurance is the priceless protection you can gift your loved ones. It helps them lead a sweet, comfortable lifestyle, even when you are not around.

So let's decode it to the T, shall we?
 

About

What is Life Insurance?

Life insurance is a contract between you and an insurance company. You pay premiums regularly. In return, the insurer promises to pay a fixed amount (called the sum assured) to your nominee if you pass away during the policy term.

Some life insurance plans also help with long-term financial planning. These plans may support goals like buying a house, retirement planning, or funding a child’s education. However, pure term plans focus only on life cover and do not offer savings or investment benefits.
 

Updated 2026

Top Life Insurance Plans 2026

Curated overview of leading life insurance plans available in India. Compare features, eligibility, and coverage at a glance.

Insurer & plan ELIGIBILITY AGE Max maturity age Policy term Premium payment Key highlights Get quote
LIC of IndiaJeevan Amar
 18 – 65 yrs 80 yrs 10 – 40 yrs Single, Regular, Limited Pure term plan with options for level or increasing sum assured; non-linked, non-participating. Get Quote
HDFC LifeClick 2 Protect Life
 18 – 65 yrs 85 yrs 5 – 40 yrs Single, Regular, Limited Term plan with life, life plus & life goal variants; critical illness rider available. Get Quote
SBI LifeeShield Next
 18 – 65 yrs 100 yrs 5 – 100 yrs Single, Regular, Limited Online term plan with increasing cover option; offers terminal illness benefit. Get Quote
ICICI PrudentialiProtect Smart
 18 – 65 yrs 99 yrs 5 – 99 yrs Single, Regular, Limited Term plan with optional critical illness & disability riders; accelerated death benefit. Get Quote
Max Life InsuranceSmart Secure Plus Plan
 18 – 65 yrs 85 yrs 10 – 50 yrs Single, Regular, Limited Term plan with return of premium option; multiple death benefit payout options. Get Quote
Bajaj Allianz LifeSmart Protect Goal
 18 – 65 yrs 99 yrs 5 – 99 yrs Single, Regular, Limited Return of premium, child education extra cover & waiver of premium options. Get Quote
Tata AIA LifeSampoorna Raksha Supreme
 18 – 65 yrs 100 yrs 10 – 82 yrs Single, Regular, Limited Term plan with whole life coverage option; multiple riders including critical illness. Get Quote
PNB MetLifeMera Term Plan Plus
 18 – 60 yrs 99 yrs 10 – 40 yrs Single, Regular, Limited Spouse coverage, child education benefit & return of premium options. Get Quote
Kotak Mahindra Lifee-Term Plan
 18 – 65 yrs 75 yrs 5 – 40 yrs Single, Regular, Limited Online term plan with step-up, step-down & level sum assured options. Get Quote
Aditya Birla Sun LifeLife Shield Plan
 18 – 65 yrs 85 yrs 10 – 40 yrs Single, Regular, Limited Level term assurance, increasing term assurance & return of premium options. Get Quote

Note: The plans listed above are shared for general information and are not ranked in any particular order. Features, terms, and eligibility may change over time. Please review official brochures, policy documents, and speak with a licensed advisor before making any insurance decision.

Your Needs

Why Do You Need Life Insurance?

It is a known fact that life is uncertain. So, it's essential to secure your future as well as the future of your loved ones, especially those who rely on you financially. That's where life insurance comes in - it's designed to safeguard your family's financial well-being and ensure your dreams remain intact, no matter what.

1

Financial Protection

Savings alone may not be enough to support your family for many years. Life insurance gives financial support so your family can manage expenses if you are not around.

2

Income Replacement

If your family depends on your income, life insurance can help replace it. The payout can help cover daily costs like rent, food, utilities, loan EMIs and healthcare expenses.

3

Helps Pay Outstanding Loans

Life insurance can help your family repay loans such as home loans, personal loans, or business loans. This reduces financial pressure during a difficult time.

4

Supports Financial Goals

Life insurance can help ensure important goals are not affected. This may include children’s education, marriage expenses, or retirement planning.

5

Tax Benefits

Premiums paid for life insurance may qualify for deduction up to Rs. 1.5 lakh under Section 80C of the Income Tax Act, 1961, subject to conditions.

6

Tax-Free Payout

The payout received under the policy is generally tax free under Section 10(10D), as per applicable tax rules.

Terminologies

Important Terminologies of Life Insurance?

Here are some of the main aspects of bike insurance -

1

Policyholder

The person who buys and owns the policy. The policyholder pays the premiums.

2

Life Assured

The person whose life is covered under the policy. The policyholder and life assured can be the same or different people.

3

Nominee

The person who receives the claim amount if the life assured passes away during the policy term.

4

Policy Term

The period for which the life insurance cover is active.

5

Death Benefit

The amount paid to the nominee if the life assured dies while the policy is active.

6

Maturity Benefit

The amount paid if the life assured survives till the end of the policy term.

Note: Term insurance plans do not offer maturity benefits.

7

Grace Period

Extra time given after the premium due date to make payment. Usually 15 days for monthly premium mode and 30 days for other payment modes.

8

Policy Lapse

If premiums are not paid even during the grace period, the policy becomes inactive and coverage stops.

9

Exclusions

Situations or conditions that are not covered under the policy. These are mentioned in the policy document.

10

Free Look Period

Time given after receiving the policy document to review terms and cancel if not satisfied. Usually 15 days for offline policies and 30 days for policies bought online or through distance mode. Charges like stamp duty may be deducted.

11

Insurable Interest

The policyholder must have a valid financial or family relationship with the life assured. This prevents misuse of insurance.

12

Cash Value

Available in some policies like whole life or endowment plans. It is money that builds over time and may be borrowed or withdrawn as per policy terms.

13

Riders

Optional add-ons that increase coverage. Examples include critical illness riders or accidental death riders. Riders require extra premium.

14

Surrender Value

Amount paid if you close the policy before maturity, after paying premiums for a minimum period (usually 2 to 3 years, depending on policy terms).

Protect Their Tomorrow, Today

Secure the Best Term Life Insurance with
SMC Insurance
Fast, Easy & Reliable

GET QUOTE

 

How it Works?

How Life Insurance Works?

Life Insurance, in a simple sense, is a contract between you (the policyholder) and the insurance company. The insurance company pays you or your nominee the benefits of the plan (depending on the policy type) and you are required to pay a premium to keep your policy and coverage active.

Example Scenario

Mr Malhotra buys an endowment plan with a sum assured of Rs 50 Lakhs and a policy term of 20 years. He pays an annual premium of Rs 1 Lakh.

  • If Mr Malhotra passes away during the policy term, his nominee receives Rs 50 Lakhs.
  • If he survives the 20 years, he receives Rs 50 Lakhs as the maturity benefit.
Note: Some life insurance plans may also pay survival benefits during the policy term.
Policy essentials

Key features of life insurance policies

Life insurance policies come with certain core features that decide how the policy works, how benefits are paid and what you need to do to keep the policy active.

To keep your life insurance policy active, you must pay premiums regularly. Premiums can usually be paid monthly, quarterly, half-yearly, or yearly. The premium amount depends on factors such as:

Age Health condition Sum assured Lifestyle habits (like smoking) Policy term Type of policy
This is in line with standard underwriting practices followed by insurers and regulatory guidance.

The main purpose of life insurance is to provide financial support to your family if you pass away during the policy term. If the policy is active at the time of death, the nominee receives the death benefit. Depending on the policy type, it can be:

Fixed (like in term plans) Linked to investment value (like in ULIPs)
The payout can help your family manage daily expenses, repay loans, or meet future financial needs.

Some life insurance policies pay a maturity benefit if you survive till the end of the policy term. The maturity date is mentioned in the policy document and is usually the last date of the policy term.

Available in savings & investment-linked policies Not available in pure term plans (except TROP variants)

Some policies pay survival benefits during the policy term if the life assured survives certain milestones. This feature is common in:

Money back policies Some child plans Certain savings plans
Survival benefits can help with planned expenses, emergencies, or improving cash flow during your lifetime. Not all policies offer survival benefits.

Policy term means the time period during which the life insurance cover is active. Depending on the policy type, the term can range from:

5 to 40 years (typical for term plans) Whole life duration (up to age 99 or 100 in whole life plans)

Riders are optional add-on covers that increase policy protection. Riders are available at an extra premium. Common riders include:

Critical illness rider Accidental death benefit rider Accidental disability rider Waiver of premium rider
Riders are subject to underwriting rules. Some riders may require additional medical checks or documentation depending on age, sum assured and insurer guidelines.

Want a personalised life insurance plan?

Compare 35+ trusted insurers in minutes — fast, easy & reliable.

Get free quote →
Policy types

Types of Life Insurance Policies

Here are some of the life insurance policies that you can benefit from.

Policy type What it is Death benefit Maturity benefit Survival benefit
Term Life Insurance Pure life cover for a fixed period. Mainly meant for financial protection and income replacement. Nominee receives full sum assured if death happens during policy term. No maturity benefit in pure term plans. TROP variants may return premiums paid. Not applicable.
Whole Life Insurance Long-term life cover, usually up to age 99 or 100. Often used for legacy planning. Nominee receives sum assured if death happens during policy duration. Some policies may offer maturity payout or cash value depending on product design. Some policies may offer benefits after the premium payment term ends.
Unit Linked Insurance Plan Combines life insurance with market-linked investment. Usually higher of sum assured or fund value, or sum assured plus fund value, based on policy structure. Fund value at maturity is paid if life assured survives policy term. Not usually offered as fixed payouts. Value depends on market performance.
Endowment Plan Combines life cover with savings. Offers more predictable returns than market-linked plans. Nominee receives sum assured plus bonuses (if applicable), as per policy terms. Lump sum paid at maturity including sum assured plus bonuses (if declared). Not applicable.
Money Back Plan Life cover with periodic payouts during the policy term. Nominee usually receives full sum assured even if survival payouts were already made. Remaining amount plus bonus (if applicable) paid at maturity. Periodic payouts at fixed intervals; usually a percentage of sum assured.
Child Insurance Plan Helps build funds for a child's future goals like education. Future premiums are usually waived on a parent's death. The child continues to receive policy benefits. Maturity amount paid as per policy structure. Some plans offer milestone payouts for education or other goals.
Retirement / Pension Plan Helps build retirement corpus and provides income after retirement. Death benefit depends on policy stage and annuity option selected. Vesting benefit or retirement corpus paid as per policy terms. Regular pension income paid after annuity starts.
Group Life Insurance Covers a group of people under one policy. Common in employer or association setups. Nominee receives sum assured as per group policy terms. Usually not applicable. Usually not applicable.

 

Who can Buy?

Who can Purchase Life Insurance?

Buying life insurance is a wise decision if you fall under any of these categories -

You Have Financial Dependents

If you have financial dependents relying on you for their livelihood, investing in a life insurance plan is essential. It offers protection and financial stability for your loved ones when you are no longer there to support them. Whether it's for your children's education, marriage, or any other family needs, a life insurance plan serves as a reliable income replacement.

You Have Outstanding Debts

If you find yourself burdened with outstanding debts, such as student loans, home loans, etc., it is essential to invest in a life insurance policy. Remember, your debt doesn't disappear when you pass away. If you want to protect your loved ones from inheriting your financial obligations in case of an unfortunate event during the policy period, you can consider buying life insurance.

You Have Plans Of Starting a Family/ Getting Married

If you're about to tie the knot or are thinking about starting a family, it's crucial to have a solid understanding of your finances and a plan in place. As you embark on your new chapter, it's important to consider your financial needs at each milestone. A prudent way to start this journey is by exploring the possibilities offered by a life insurance policy.

You Own A Business

If you're a single entrepreneur, freelancer, or business owner, you may have concerns about the future of your business. That's where a life insurance plan comes to the rescue. In the unfortunate event of your untimely demise, a life insurance policy can provide the necessary funds to keep your business running smoothly or ensure a seamless transition of ownership. Thus sustaining the livelihood of your employees, partners, or family involved with the business.

You Only Have Employer Insurance

If you rely solely on your employer's life insurance plan, it's important to consider getting your own personal life insurance policy. This is because your coverage is tied to your employment, meaning that if you change jobs or leave your current one, you may lose your life insurance coverage. Additionally, it's worth noting that life insurance cannot be ported.

You Want To Plan For Retirement

If you're diligently saving for your retirement, you're probably seeking peace of mind. Life insurance can provide just that. It not only acts as a financial shield while you're working, but it can also become a valuable tool for estate planning, ensuring a smooth transfer of wealth to your heirs. There are various life insurance plans tailored for retirement planning, such as pension plans, annuity plans, etc. Conduct thorough research and choose a suitable plan that aligns with your unique needs.

Buyer's Guide 2026

Choosing the Best Life Insurance Plans in India 2026

Selecting the right life insurance plan can feel overwhelming. Follow these important steps to make an informed decision and secure your family's financial future.

1
🎯

Assess Your Needs

Understand why you need life insurance by reviewing your financial responsibilities.

2
📋

Choose Policy Type

Select the right plan such as term insurance, endowment plans, or retirement plans.

3
🛡️

Decide Coverage

Consider loans, household expenses, children's education and long-term goals.

4
📅

Select Policy Term

Choose coverage that lasts until retirement or financial independence.

5
➕

Check Riders

Add riders like critical illness, accidental death, or waiver of premium.

6
₹

Compare Premiums

Compare policies based on coverage, benefits and exclusions.

7
🏢

Evaluate Insurer

Check claim settlement ratio, financial strength and service quality.

8
📄

Read Policy Terms

Always review exclusions, waiting periods and claim conditions.

High returns

Best life insurance policy in India with high returns

Among the diverse life insurance policies available in India, the Unit Linked Insurance Plan (ULIP) stands out as a noteworthy option for those seeking potentially higher returns.

A Unit Linked Insurance Plan (ULIP) combines investment and insurance into one convenient package. When you pay your premium, a part of it goes towards providing life insurance coverage for you, while the rest is invested in the funds that you choose.

ULIPs, unlike other life insurance plans, have the potential to offer higher returns. A part of your premium is invested in market-linked instruments that offer various investment options such as equity, debts, money market funds and more — tailored to match your financial goals and risk appetite.

Policy type
Insurance + investment
Ideal investment horizon
5 – 10 years
Premium split
Life cover + market-linked funds
Choose your fund based on risk appetite
Equity fund
Suitable if you are seeking higher returns and are open to taking risks. Invests primarily in stock markets for long-term capital growth.
Higher risk · higher reward
Balanced fund
Combines equity and debt. Suitable if you prefer a cautious approach with steady, moderate returns and lower volatility.
Medium risk · steady returns
Money market fund
Short-term, highly liquid investment. Suitable if you need capital preservation and easy access to funds with minimal risk.
Lower risk · high liquidity
Key advantages of investing in ULIPs
Long-term wealth creation
Staying invested for 5–10 years can generate favourable returns. You can save and grow money simultaneously instead of just leaving it in a savings account.
Life cover included
A portion of your premium provides active life insurance cover, ensuring your family's financial protection alongside investment growth.
Multiple fund options
Choose from equity, debt, balanced or money market funds based on your risk appetite and financial goals — all within one policy.
Tax benefits
Premiums paid may qualify for deduction under Section 80C and maturity payouts may be tax exempt under Section 10(10D), subject to applicable conditions.

Fund switching — a distinctive ULIP feature

ULIPs offer a distinctive feature called Fund Switching. It enables you to switch between funds, thereby providing the flexibility to mitigate potential losses and take advantage of emerging investment opportunities. By utilising this feature, you can maximise your returns throughout the duration of the policy. Switches are usually allowed a certain number of times per year free of charge, subject to insurer terms.

Important note on risk: While you may be enticed by the potential for high returns, it is important to consider the risks involved with ULIPs — especially if you choose equity-based funds. If you have a strong appetite for risk, this option could be rewarding for you. However, if you prefer a more balanced approach, you can consider medium-risk or low-risk funds like debt funds, etc. Always assess your financial goals, risk tolerance and investment horizon before choosing a fund.

Compare ULIP and life insurance plans

35+ trusted insurers — fast, easy and reliable

Get free quote →
Benefits

What are The Main Benefits of Life Insurance Policies?

Life insurance offers financial protection and, depending on the type of plan, may also help with savings, investment, or retirement planning. The exact benefits depend on the policy you choose.

  • Financial Security for Family

    The main benefit of life insurance is financial protection. If the life assured passes away during the policy term, the nominee receives the death benefit. This amount can help the family manage:

    • Daily living expenses
    • Loan repayments
    • Education expenses
    • Long-term financial needs

  • Long-Term or Lifetime Coverage

    Some life insurance policies provide cover for a fixed period, while others offer very long-term protection.

    For example:

    • Term plans provide coverage for a chosen period
    • Whole life plans may provide coverage up to age 99 or 100, depending on policy terms

  • Death Benefit

    If the life assured passes away during the policy term and the policy is active, the insurer pays the death benefit to the nominee.

    The death benefit amount is decided at the time of policy purchase and depends on policy structure.

  • Maturity Benefit

    Some life insurance policies pay a maturity benefit if the life assured survives till the end of the policy term.

    Important points:

    • Available in savings and investment-linked policies
    • Not available in pure term insurance plans (except TROP variants)

  • Survival Benefits (In Select Plans)

    Some policies like money back or certain child plans may offer survival benefits during the policy term at predefined intervals.

    These payouts help provide liquidity during the policy duration. Not all life insurance plans offer survival benefits.

  • Loan Facility (Policy Loan)

    Some traditional life insurance policies allow loans against policy value after the policy acquires surrender value.

    Important clarifications:

    • Usually available in savings or participating policies
    • Not available in most term insurance plans
    • Loan availability depends on policy terms and insurer rules

  • Cash Value (In Certain Policies)

    Some policies build cash value over time. This is usually available in:

    • Whole life plans
    • Endowment plans
    • Certain savings policies

    Cash value may be used for loans or partial withdrawals, subject to policy conditions.

  • Tax Benefits

    Life insurance policies may offer tax benefits as per the Income Tax Act, subject to prevailing rules.

    • Section 80C
      Premiums paid may qualify for deduction up to ₹1.5 lakh per financial year, subject to conditions.
    • Section 10(10D)
      Death benefit is generally tax exempt. Maturity benefits are tax exempt if policy conditions under tax laws are met.

    Note: Tax rules may change. Always check current tax provisions or consult a tax expert.

Benefits summary

Summary Table of Benefits

A quick reference of what each policy type offers across key benefit categories.

Available / Yes
Conditional / Varies
Not applicable
Plan type Purpose Policy term Death benefit Maturity benefit Tax benefit
Term Insurance Income protection for family Fixed term Yes No (except TROP variants) Yes, subject to tax rules
Whole Life Insurance Long-term or legacy planning Up to age 99 or 100 (depends on policy) Yes May be available depending on policy Yes, subject to tax rules
ULIP Insurance + market-linked investment Fixed term Yes Yes (fund value at maturity) Yes, subject to tax rules
Endowment Plan Insurance + savings Fixed term Yes Yes Yes, subject to tax rules
Money Back Plan Insurance + periodic payouts Fixed term Yes Yes Yes, subject to tax rules
Child Plan Child future planning Fixed term Yes Yes Yes, subject to tax rules
Retirement / Pension Plan Retirement income planning Depends on accumulation and payout phase Yes (depends on stage and option) Yes (vesting / annuity structure) Yes, subject to tax rules
Group Life Insurance Coverage for group members Fixed term Yes Usually not applicable Yes, subject to tax rules

Tax rules are subject to change. Always verify current provisions under the Income Tax Act, 1961, or consult a qualified tax advisor before making any financial decisions.

Coverage Guide

How Much Life Insurance Coverage Do You Need?

There are many types of life insurance products available in the market. But before buying any of them, you need to decide on a life cover amount that is sufficient for your family. The cover should be big enough to:

  • ✓Sustain the rising inflation and living costs
  • ✓Settle all pending loans
  • ✓Build a suitable income replacement for your family
  • ✓Let them lead a comfortable lifestyle, even in your absence

For products that are a mix of insurance+investment, that give you a regular payout or a post-retirement income - you need to calculate how much to invest. This will ensure that the amount you receive on maturity is adequate enough to fulfil your long-term goals.

But, keep in mind that life insurance policies with an investment component (endowment plans, money-back plans, etc.) should be considered money-building avenues. The death benefit that your family will receive should be thought of as a policy feature and should not be your primary motive for investing in such plans. The cover amount of such products is usually 10x the premium you pay - which will not suffice your loved one's needs if you, unfortunately, pass away. You should simultaneously buy term insurance to create a financial cushion for them.

So assess your needs and objectives, choose your product and decide on the coverage accordingly.

Key coverage factors
→Sustain the rising inflation and living costs
→Settle all pending loans — home, personal, or business
→Build a suitable income replacement for your family
→Let them lead a comfortable lifestyle, even in your absence
→For investment-linked plans, calculate the right amount to meet long-term goals at maturity
→Investment-linked plans (endowment, money-back) cover ~10x premium — not sufficient as standalone protection
→Always pair investment plans with a separate term insurance for adequate family protection
⚠️ Assess your needs and objectives, choose your product and decide on coverage accordingly.
Premium Guide

How to Calculate Your Life Insurance Premium?

A life insurance premium is the amount you pay to keep your policy active. Insurers provide life cover in exchange for these premiums, which can usually be paid monthly, quarterly, half-yearly, or annually.

The premium you pay depends on several factors such as your age, health, lifestyle, cover amount, policy term, and type of plan. It is important to choose a premium that fits your budget so that payments can be made regularly without financial stress. Missing premium payments may lead to policy lapse.

To calculate or estimate your premium, follow these steps. Use online calculators, review policy brochures and compare plans before making a final decision.

Always choose a cover and premium that aligns with your long-term financial goals and current budget. A well-chosen plan ensures continued protection without financial strain.

Premium calculators provide estimates. Final premiums are decided after underwriting and medical evaluation, if applicable.
1

Decide Your Requirements

Identify: required cover amount, policy term, and premium payment option (regular, limited, or single pay) — based on your financial responsibilities and long-term goals.

2

Use Online Premium Calculators

Enter your age, income, policy term, and lifestyle habits on insurer or comparison platforms to get an estimated premium amount.

3

Review Policy Brochures

Policy brochures explain benefits, exclusions, and premium structure in detail. Reviewing them helps you understand what you are paying for.

4

Compare Options

Compare a few suitable plans based on premium, coverage, and features before making a final decision.

Premium Factors

Factors That Impact Life Insurance Premiums

Several factors influence how much premium you need to pay for a life insurance policy.

🎂

Age

Age is one of the most important factors. Premiums are usually lower when you buy a policy at a younger age, as health risks are generally lower. As age increases, premiums tend to rise.

🛡️

Sum Assured

The sum assured is the amount paid to your nominee in case of death during the policy term. Higher coverage means higher premiums. It is important to choose a cover amount that matches your family's financial needs.

🚬

Lifestyle Habits

Insurers assess lifestyle habits to evaluate risk. Factors such as:

  • Smoking
  • Tobacco use
  • Excessive alcohol consumption

These habits can lead to higher premiums, as they increase health risks.

📅

Policy Term

Policy term refers to how long the policy remains active. Longer policy terms may result in higher overall premium outgo, though annual premiums may be lower compared to shorter terms with the same cover amount.

🏥

Medical History

Your personal medical history and, in some cases, family medical history affect premiums. Existing health conditions may result in higher premiums or additional policy conditions.

👤

Gender

Insurers consider life expectancy data while pricing premiums. Since women generally have a higher life expectancy, premiums for women may be slightly lower for similar policies, subject to underwriting norms.

💼

Occupation

Certain professions involve higher risk, such as mining, construction, or aviation-related jobs. Insurers may charge higher premiums for high-risk occupations compared to low-risk desk-based roles.

➕

Riders

Riders are optional add-ons that enhance coverage, such as:

  • Critical illness rider
  • Accidental death benefit rider
  • Waiver of premium rider

Adding riders increases the total premium. Riders should be chosen based on actual need.

📋

Type of Life Insurance Policy

Different policy types have different premium structures:

  • Term insurance usually has the lowest premiums
  • Whole life and savings-oriented plans have higher premiums
  • ULIPs and pension plans include investment or retirement components, which affect pricing
⚙️

Additional Policy Features

Optional features such as:

  • Increasing or decreasing cover
  • Limited pay or single pay options

They can influence premiums. Single-pay or limited-pay policies usually have higher premiums compared to regular-pay options.

Note: Life insurance premiums are decided based on risk, coverage, and policy design. Choosing the right premium requires balancing affordability with adequate coverage. Always disclose information accurately and review policy documents before purchase.
Add-on Benefits

Life Insurance Riders

Life insurance riders are optional add-on benefits that you can attach to your base life insurance policy by paying an additional premium. Riders help increase protection by covering specific risks that may not be fully covered under the base policy. Riders work only if the event covered under the rider happens during the policy term and subject to policy conditions.

Benefits of Life Insurance Riders

Some of the benefits include:

🔒

Enhanced Coverage

Riders provide additional financial protection against specific risks such as critical illness, disability, or accidental death. If the event covered under the rider occurs, the rider benefit is paid as per policy terms.

✅

Convenience

Riders allow you to enhance protection within one policy instead of buying multiple separate insurance policies. Important note: Riders may require underwriting and, in some cases, additional medical checks depending on age, coverage amount, and insurer rules.

⚙️

Better Policy Customisation

Riders help customise your policy based on your personal risks and financial needs.

Common Types of Life Insurance Riders

Hospital Care Rider

Provides a fixed daily cash amount if you are hospitalised for medically necessary treatment, subject to policy conditions such as minimum hospitalisation period.

Surgical Care Rider

Provides a fixed lump sum amount if you undergo a covered surgery and meet policy conditions such as minimum hospitalisation period.

Accidental Death Benefit Rider

Pays an additional sum assured to the nominee if death happens due to an accident, as defined in the policy.

Accidental Disability Rider

Provides financial benefit if an accident leads to permanent disability, subject to policy definitions and assessment criteria.

Critical Illness Rider

Pays a lump sum amount if you are diagnosed with any listed critical illness covered under the rider during the policy term. Payment is usually subject to survival period and policy definitions.

Waiver of Premium Rider

This rider ensures that future premiums are waived if certain events occur. Coverage usually continues as per policy terms. Common variants include:

  • Waiver of Premium due to Critical Illness: Future premiums are waived if the life assured is diagnosed with a covered critical illness.
  • Waiver of Premium due to Disability: Future premiums are waived if the life assured suffers permanent disability due to accident or illness, depending on policy terms.
Note: Types of riders and benefits vary across insurers and products. Always read the policy document, rider brochure, and benefit definitions carefully before buying.
Tax Benefits

How to Save Tax With Life Insurance?

Here's a breakdown of tax benefits offered by life insurance -

  • 80C
    The premiums you pay for your life insurance policy are eligible for a tax deduction of up to Rs. 1.5 lakhs per year under Section 80C of the Income Tax Act, 1961.
  • 10(10D)
    As per Section 10(10D) of the Act, the payout you or your nominee receive from a life insurance policy is exempted from taxation.
⚠️ Please keep in mind that the limits for claiming deductions and exemptions may be subject to change in accordance with the provisions of the Income Tax Act, 1961. And, to claim tax benefits, you must ensure that you are making premium payments to an insurance company authorised by the IRDAI (Insurance Regulatory and Development Authority of India).
Section 80C

Premium Deduction

Premiums paid for life insurance may qualify for deduction up to ₹1.5 lakh per financial year, subject to conditions under the Income Tax Act, 1961.

Section 10(10D)

Tax-Free Payout

The death benefit received by the nominee is generally tax exempt. Maturity benefits are tax exempt if policy conditions under tax laws are met.

Before You Buy

Things to Note Before Buying Life Insurance

Before buying a life insurance policy, it is important to evaluate your needs carefully and understand how the policy works. Keeping the following points in mind can help you make a well-informed decision.

1

Choose the Right Type of Policy

Start by selecting a policy type that matches your financial goals. For example:

  1. If your goal is to financially protect your family, a term insurance plan may be suitable.
  2. If you want to plan for retirement income, annuity or pension plans can be considered.
  3. If you want insurance along with savings, endowment or ULIP plans may be explored.

Understand the benefits, features, and limitations of each plan type before deciding.

2

Choose an Adequate Cover Amount

Selecting the right coverage amount is as important as choosing the right policy. Consider:

  1. Monthly household expenses
  2. Outstanding loans and liabilities
  3. Children's education and future goals
  4. Inflation and existing savings

The cover amount should be sufficient to support your family's financial needs in your absence.

3

Choose a Reputable Insurance Company

Always buy life insurance from a reliable and established insurer. This is especially important for smooth claim settlement, as your family will depend on the insurer during a difficult time.

4

Check the Claim Settlement Ratio (CSR)

The Claim Settlement Ratio shows the proportion of claims settled by an insurer in a financial year compared to the claims received. A consistently high CSR, published annually by IRDAI, indicates better claim settlement performance. However, it should not be the only deciding factor.

5

Fill the Proposal Form Yourself

Always fill the proposal form on your own and provide accurate details. Disclose all information related to:

  1. Health conditions
  2. Lifestyle habits
  3. Occupation

Remember, incorrect or incomplete information can lead to claim rejection later.

6

Choose Customisation Options Carefully

Many policies allow customisation through features such as:

  1. Increasing or decreasing cover
  2. Limited or single premium payment options

You can also add riders to enhance coverage. Before selecting any rider:

  1. Assess whether you genuinely need it
  2. Understand the cost and benefit
  3. Avoid adding riders by default
7

Keep Policy Documents Safe and Accessible

Store your policy documents securely. Many insurers provide e-insurance accounts, and policies can also be stored in DigiLocker. Ensure your nominee or family members know where the documents are stored and how to access them. This helps avoid delays during claim settlement.

Secure Your Family’s Future

Get the Right Life Insurance Plan with
SMC Insurance
Simple, Affordable & Trusted Protection

GET QUOTE
 
Claims Guide

Life Insurance Claims Process

If the Life Assured Passes Away During the Policy Term

1

Inform the Insurer

The nominee should inform the insurance company as soon as possible. Intimation can usually be done through:

  • Toll-free number or SMS
  • Email
  • Insurer's website or branch
2

Submit Required Documents

The nominee must submit the claim form along with required documents, either online or offline. Basic documents usually required:

  • Duly filled claim form
  • Death certificate (self-attested copy)
  • KYC documents of the nominee
  • Bank account details of the nominee
3

Submit Additional Documents (If Required)

The insurer may ask for additional documents based on the nature and timing of the claim. The nominee should respond promptly.

  • For claims within 3 years of policy issuance:
    • Original policy document
    • Medical attendant's certificate (if applicable)
    • Hospital or treatment records
    • Employer's certificate (if applicable)
  • For accidental or unnatural death claims:
    • FIR and police closure report
    • Post-mortem report
    • Police inquest report
    • Driving licence (if death occurred while driving)
    • Vehicle insurance documents (if applicable)
4

Claim Review and Payout

The insurer reviews the documents and processes the claim. If approved, the payout is made as per the payout option chosen in the policy. If the claim is rejected, the insurer must communicate the reason in writing.

If You Survive the Policy Term (Maturity Claim)

1

Contact the Insurer

The policyholder should contact the insurer or visit the branch to initiate the maturity claim.

2

Submit Required Documents

Usually required:

  • Duly filled maturity or payout form
  • Original policy document
  • Bank account details
3

Verification and Payout

After verification, the maturity amount is credited to the registered bank account.

  • For traditional plans, the payout amount is fixed as per policy terms.
  • For ULIPs, the maturity amount depends on the fund value based on NAV on the maturity date or next working day, as per policy rules.
Note: Claim procedures and document requirements may vary across insurers and products. Always refer to the policy document and insurer communication for exact details.
Buy Online

How to Buy The Best Life Insurance Policy Online From SMC?

To purchase the best life insurance policy online from SMC, follow these steps -

1
Go to the SMC Insurance website.
2
On the homepage, click "Term Life Insurance" as the insurance category.
3
Once you select a category, you'll be taken to that policy page.
4
You can then provide details of gender, date of birth, mobile number, email id, name and pincode. Then click on "Continue".
5
You will then have to give more details on your annual income, policy term, education, occupation and other lifestyle habits. You should then click on "Get Quotes".
6
On submission, SMC will display a list of available plans or quotes from partner insurers. You can view complete plan details like coverage, benefits, inclusions/exclusions, add-ons (if available), etc.
7
Compare the available options.
8
Once you select the plan you want, click the button labeled "Buy Now".
9
Fill out your personal details as required and ensure all details are accurate.
10
Make the payment via the online gateway supported by the website. After payment confirmation you will receive your policy document or certificate electronically (through email or website account).
11
Once everything is processed, your insurance becomes active. Keep a digital or printed copy of your policy/certificate for future reference.

Throughout the buying process, you have the option to contact the SMC Team for any kind of support you need.

🛡️

Get Your Quote Now

Compare top life insurance plans from 35+ trusted insurers in minutes. Fast, easy & reliable.

GET FREE QUOTE →
✓ 35+ reliable insurers
✓ 18+ years of experience
✓ 100% privacy, zero spam

Disclaimer: The information provided on this platform is intended for general awareness and educational purposes. While every effort is made to ensure accuracy, some details may change with policy updates, regulatory revisions, or insurer-specific modifications. Readers should verify current terms and conditions directly with relevant insurers or through professional consultation before making any decision.

All views and analyses presented are based on publicly available data, internal research, and other sources considered reliable at the time of writing. These do not constitute professional advice, recommendations, or guarantees of any product’s performance. Readers are encouraged to assess the information independently and seek qualified guidance suited to their individual requirements. Customers are advised to review official sales brochures, policy documents and disclosures before proceeding with any purchase or commitment.

 
Help Center

Frequently Asked Questions (FAQs)

Yes, there are different types of life insurance plans available to suit your needs. These include term insurance policies, whole life insurance, child insurance policies, endowment policies, money-back policies, Unit Linked Insurance Plan (ULIPs), retirement plans, etc.

In order to keep your policy active, it is important for you to pay your premium on time. The insurer allows a grace period of 30 days (15 days if you choose to pay monthly) after the original due date. If you fail to make the payment within this grace period, your policy will lapse. However, don't worry, as you still have the opportunity to reinstate your lapsed policy during the revival period, as provided by the insurers.

When purchasing the policy, you have the freedom to select how you prefer to pay your premiums. You can choose from various options such as monthly, quarterly, semi-annually, annually, and more.

Yes, you can choose a minor as your nominee. However, if you decide to select a minor as your nominee, it is important to designate an appointee who can manage the proceeds until the nominee reaches the legal age.

Appointee is the person you appoint and authorise to receive benefits under the policy on behalf of your nominee if the nominee is under the age of 18 on the date of claim payment.

If your nominee passes away before you, you can add a new nominee. You can do this by informing the insurance company and providing them with any necessary documents.

Health Insurance

Motor Insurance

Life Insurance

Auto Products

Info Centre
About Us Our Policy Grievance Careers Contact Us Inspection Status Offline Quotes Unsubscribe

SMC Insurance Brokers Pvt. Ltd.
SMC Metro Mall, Near Pratap Nagar Metro Station, Pratap Nagar, New Delhi-110007
Registration No: 289, Registration Code No: IRDAI/DB-272/04/289, Valid till: 27/01/2029, License category: Composite Broker, CIN: U66000DL1995PTC172311
Insurance is the subject matter of solicitation. Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the Insurer.

  • square x twitter
  • square threads
© Copyright 2026 SMC INSURANCE | All rights reserved
WhatsApp Icon
icon
SMC Insurance
Insure wise. Be wise.
SMC Insurance

Welcome to SMC.
How may I assist you?

WhatsApp Icon Start Chat