Eligibility Criteria for tata aig life Raksha Plan:

1. Entry Age – Minimum age limit is 18 years and maximum age limit is 50 years.
2. Maturity Age – Maximum maturity limit is 60 years.
3. Policy Paying Term -  10, 15, 20 and 25 years.
4. Premium Payment Mode – Monthly, Quarterly, Half Yearly, Yearly.
5. Sum Assured – Minimum sum assured limit is 15 lacs and Maximum no limit.

Key Benefits of Tata Aig term life insurance:

• Death Benefit – In the event of death of the life assured during the policy term, sum assured is payable to nominee.
• Maturity Benefit – Term insurance policy do not offer maturity benefits.
• Tax Benefits – Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961.

Please note that there is no Survival Benefits at the end of the policy term.

Some Unique Features of this policy:

1. Term Life cover at the cost.
2. Available in 3 options: Increase in sum assured by 5%, 50%, and level cover.
3. Tax benefit u/s 80 C and 10 (10 D) of IT Act.
4. Discount for womens.
5. Rider options available.
6. 15 days Free Look Period from the date on which you receive the policy documents.

Eligibility Criteria:

1. Entry Age: Minimum age limit is 18 years and Maximum age limit is 60 years.
2. Maturity Age: Maximum maturity age is 65 years.
3. Sum Assured: Minimum sum assured limit is 300000 (3 Lakhs) and Maximum sum assured no limit.
4. Premium Paying Term: Minimum premium paying term is 5 years and Maximum premium paying term is 25 years.
5. Premium Paying Frequency: Monthly, Quarterly, Half-Yearly, Yearly, Single.

Key Policy Benefits:

Death Benefit: in case of unfortunate death of the insured person, the nominee will get the sum assured.

Maturity Benefit :No survival benefit are entertained at the end of the term.

Tax Benefit: Premiums paid for this plan is eligible for tax benefit under Income Tax Act of India.

Features & Benefits:

1. A truly affordable life insurance product that offers the insured person high cover at low term insurance premiums.
2. Regular and single premium payment options.
3. Option to convert to any other plan.
4. Death Benefit

Eligibility Criteria:

1. Entry Age – Minimum age limit is 18 years and Maximum age limit is 65 years.
2. Premium Paying Term – Single and Regular
3. Premium Paying Option – Min 5 years, Max 30 years
4. Age at Maturity – Maximum maturity age is 70 years
5. Premium rates for Half-yearly, Quarterly and Monthly modes are 51%, 26% and 8.5% of Annual rates respectively

The policy holder of Kotak Life Insurance are also eligible under tax benefit as per the provisions of section 80C and 10(10D) of the Indian income tax act.

Life insurance is basically categorized into two classes -

• Temporary life insurance.
• Permanent life insurance.

And the below listed are it’s subclasses-

term insurance, Unit Linked Insurance Plan ( ulip ), Whole life, Endowment Plan, Money Back Policy, Children Plan, pension plan.

Temporary life insurance:-

Temporary life insurance provides insurance coverage for a particular period of time and for specific amount of premium. Generally the premium buys protection in the event of policy holder’s death.

Three things to be considered in temporary insurance -

1. Face value
2. Premium to be paid
3. Coverage length.

Permanent life insurance -

Permanent life insurance is a insurance that can be extended further until or unless the insurer fails to pays the premium due. The insurer cannot withdraw the policy for any reason except fraud in application, by which cancellation is done by Law within a period of time.

The types of permanent life insurance -

1. whole life.
2. universal life.
3. endowment.

In the event of your unfortunate demise or critical illness during the term of the policy, your nominee will receive the sum assured along with any optional benefits due. It is a pure risk cover plan, where nothing is payable on survival to the end of the  term of the policy. 

HDFC Term Assurance Plan also gives an option of choice of premium paying options between regular premium or single premium.  This plan can be taken on a single life basis or a joint life basis(first claim).

Under this plan, the premium paid is eligible for tax benefit under section 80C and benefit received under this policy is exempt from tax under section 10(10D) of the Income Tax Act,1961. Premium paid for critical illness rider is eligible under section 80D.

To eligible for this plan, the entry level age age is18 years to 60 years, with optional benefit the maximum entry age is 55 years. The maximum age at maturity is 65 years.

The policy pays death benefit of the sum assured to the beneficiary, in case death of the life assured during the term of the policy. The policy doesn’t require any paid up value or surrender value under this policy.

Features-
Offers rebate of 1% on annual premium for yearly mode and none for half yearly mode.
Grace period of 15 days for for a payment of yearly and half yearly mode.

Eligibility Criteria:
The minimum and maximum entry age is 18 years and 55 years respectively. The maximum age at maturity is 65 years. The policy terms ranges from 5 years to 25 years. The minimum sum assured is Rs. 5,00,000/- and maximum is Rs.25,00,000/-. The premium can be paid by yearly, half yearly and single premium.

Benefits-

Death Benefit-
In the event of death of the life assured during the term of the policy, the sum assured is payable to the beneficiary.
Tax Benefit-
Premium paid is eligible for tax benefit under section 80C of the Income tax Act,1961.

Features-

-Special rates to the customer opting for sum assured above Rs.10Lakh and to the Aviva Pension Plus policyholder.
-Option to increase in the sum assured on the special events like marriage and child birth.

Eligibility-
The policy is available for the people age group 18 to 55 years and the maximum age at maturity is 65 years. The policy term ranges from 5 years to 40 years. The minimum sum assured is Rs.5,00,000/- and   minimum premium amount is Rs.2000/-. The premiums can be paid annually, half annually, quarterly and monthly.