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Term Life Insurance · head to head

Flexi Term Pro vs Mera Term Plan Plus

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Quick verdict

  • Mera Term Plan Plus is better for insurer's claim payout record.

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

Specifications side by side

Spec
Flexi Term Pro
Mera Term Plan Plus
Eligibility
Minimum entry age
18 years
18 years
Maximum entry age
65 years
60 years
Maximum maturity age
99 years
99 years
Policy term
Fixed Term 1, 5 to 50 years (multiples of 5) or To Age 60, 65, 70, 75, 80, 85, 99 (varies by variant and premium option)
Minimum 10 years; maximum 99 - age at entry (Life, Life Plus), 75 - age at entry (Life plus Health), 40 years with Return of Premiums; Limited pay minimum policy term = PPT + 5 years
Minimum sum assured
₹25,00,000
₹25,00,000
Maximum sum assured
No Limit, subject to Board Approved Underwriting Policy
No limit, subject to Underwriting
Plan
Plan options
Without Return of Premium - Single Life, Without Return of Premium - Joint Life, With Return of Premium
Life, Life Plus, Life plus Health
Premium payment
OYT, Single Pay, Regular Pay, Limited Pay (5, 7, 8, 10, 12 years, Pay till Age 60, Pay till Age 70); annual, semi-annual, quarterly & monthly
Single pay, Limited pay (5, 10, 15, 20, Pay till Age 60), Regular Pay; Yearly / Half Yearly / Quarterly / Monthly
Return of premium option
Yes
Yes
Death benefit payout
Lumpsum; Monthly Income (1.04% of SA monthly for 10 years); Lumpsum plus Monthly Income (50% lumpsum, 0.93% of SA monthly for 5 years)
Lump sum; Monthly Income (level monthly income for 10 years at 1.1022% of Sum Assured on Death); Lump sum plus Monthly Income
Riders
Bharti AXA Life Hospi Cash Rider (130B007V05), Bharti AXA Life Premium Waiver Rider (130B005V05), Bharti AXA Life Non Linked Complete Shield Rider (130B011V02)
PNB MetLife Accidental Death Benefit Plus Rider Plus (117B020V04), PNB MetLife Serious Illness Rider (117B021V04), PNB MetLife Accidental Disability Benefit Rider (UIN: 117B022V03), PNB MetLife Critical Illness Rider (UIN: 117B023V03)
Terminal illness benefit
—
Yes
Waiver of premium
Via Bharti AXA Life Premium Waiver Rider: future premiums waived on diagnosis of any of 11 critical illnesses
Life Plus and Life plus Health: all future premiums waived on Accidental Total Permanent Disability or diagnosis of any one of 50 listed Critical Illnesses (not applicable to Single Premium)
Premium
Sample annual premium
₹11,300
₹10,400
Sample premium is for
Healthy male, Non Smoker, age 30, PT 30, PPT 30, Sum Assured Rs 1,00,00,000, Single Life Option - Without ROP; excluding taxes.
Healthy male life, age 30, basic sum assured Rs 1 crore, policy term 30 years, regular pay (premiums paid regularly for the policy term), annual mode, 'Life' benefit option without Return of Premiums, lump sum payout option. GST and/or applicable cesses charged extra (excluded). Smoker status not stated.
Insurer
Death claims settled (insurer)
99.18%
99.57%
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
130N103V03
117N126V04

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

Flexi Term Pro

  • Pro: Return-of-premium option available

Mera Term Plan Plus

  • Pro: Insurer paid 99.57% of individual death claims, higher than 81% of the 27 term life insurance plans on Comparezi that state it
  • Pro: Return-of-premium option available
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