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Term Life Insurance · head to head

Signature 3D Term Plan vs Elite Term Plan

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Quick verdict

  • Signature 3D Term Plan is better for insurer's claim payout record.
  • Signature 3D Term Plan is better for low minimum cover.

Computed from stored specifications, the published term life insurance scoring rules and recorded prices. Not an opinion.

Specifications side by side

Spec
Signature 3D Term Plan
Elite Term Plan
Eligibility
Minimum entry age
18 years
18 years
Maximum entry age
65 years
65 years
Maximum maturity age
99 years
99 years
Policy term
Regular Premium: 10 to 62 years; Limited Premium: 15 to 62 years; Whole Life with Limited Premium (3D - Pure Term): 34 to 81 years; 3D - TROP Regular: 15 to 62 years
5 - 81 years
Minimum sum assured
₹5,00,000
₹50,00,000
Maximum sum assured
No Limit subject to Board Approved Underwriting Policy (POSP: Rs 25 Lakh)
No Limit subject to Board Approved Underwriting Policy
Plan
Plan options
3D - Pure Term, 3D - Accelerated, 3D - Family Plus, 3D - TROP
Option: Life Benefit
Premium payment
Regular Premium (10 to 62 years); Limited Premium 10, 15, 20, 25, 30 years (TROP: 15, 20, 25, 30); Whole Life with Limited Premium: minimum (70 minus Entry Age, 30 years), 10, 15 (5 years only for entry age 65)
Regular Premium: Same as chosen Policy Term; Monthly / Quarterly / Half Yearly / Yearly
Return of premium option
Yes
No
Death benefit payout
Lumpsum (3D - Pure Term, Accelerated, TROP); Lumpsum plus Regular Monthly Payouts for 10 years (3D - Family Plus)
Lump sum; nominee option to receive level monthly instalments over a period of 5 years
Riders
Aviva Accidental Casualty Non-Linked Rider (UIN: 122B035V01), Aviva New Critical Illness Non-Linked Rider (UIN: 122B036V02), Aviva Cancer Cardio Non-Linked Rider (UIN: 122B037V02)
—
Terminal illness benefit
Yes
—
Waiver of premium
Waiver of Premiums in case of Critical / Terminal Illness: applicable with Aviva New Critical Illness Rider and 3D - Accelerated option
—
Premium
Sample annual premium
₹11,371
₹10,303
Sample premium is for
Male, age 30, 3D - Pure Term option, Sum Assured Rs 1 Cr, Policy Term 30 years, annual premium rate. Smoker status, premium payment term and tax treatment not stated.
Healthy male life, age 30, Sum Assured Rs 1 crore, policy term 30 years, regular premium; 1st-year premium inclusive of GST and 10% 1st-year discount. Smoker status not stated.
Insurer
Death claims settled (insurer)
99.07%
98.22%
Claims figures for
FY 2024-25: individual death claims paid out of claims decided and pending, by number, computed from IRDAI Handbook on Indian Insurance Statistics (Table 15)
FY 2024-25: individual death claims paid out of claims decided and pending, by number, computed from IRDAI Handbook on Indian Insurance Statistics (Table 15)
IRDAI UIN
122N148V02
143N070V01

A tick marks the better value where the category rules say higher (or lower) is better. Text values are shown without a winner. Ties have no winner.

Pros and cons

Signature 3D Term Plan

  • Pro: Return-of-premium option available

Elite Term Plan

  • Con: Insurer paid a lower share of individual death claims than 81% of the 27 term life insurance plans on Comparezi that state it (98.22%)
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