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Term Life Insurance · head to head

Digi Term (Plan 876) vs Online Term Plan

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Quick verdict

  • Online Term Plan is better for insurer's claim payout record.
  • Online 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
Digi Term (Plan 876)
Online Term Plan
Eligibility
Minimum entry age
18 years
18 years
Maximum entry age
45 years
55 years
Maximum maturity age
75 years
75 years
Policy term
Minimum 15 years (Regular/Single/Limited Premium of 10 years) or 20 years (Limited Premium of 15 years); maximum 40 years under Level Sum Assured, subject to maximum age at maturity 75; under Increasing Sum Assured the maximum depends on age and Basic Sum Assured band
10 to 57 years (Lump Sum option); 20 to 47 years (Monthly Income / Lump Sum + Monthly Income)
Minimum sum assured
₹50,00,000
₹25,00,000
Maximum sum assured
Rs. 5,00,00,000* (above Rs 5 crore considered case to case as per Board Approved Underwriting Policy and reinsurer decision)
Rs 10 crores
Plan
Plan options
Option I: Level Sum Assured, Option II: Increasing Sum Assured
Lump Sum, Monthly Income, Lump Sum + Monthly Income
Premium payment
Regular, Limited Premium of 10 years, Limited Premium of 15 years, Single Premium
Regular: premium payment term equal to policy term; Yearly, Half Yearly, Quarterly, Monthly
Return of premium option
No
No
Death benefit payout
Lump sum, or Death Benefit in instalments over 5, 10 or 15 years (yearly/half-yearly/quarterly/monthly)
Lump Sum; Monthly Income of 1% of Sum Assured (till end of policy term or at least 10 years, whichever is later); Lump Sum + Monthly Income (50% of SA lump sum and 0.5% of SA monthly)
Terminal illness benefit
—
Yes
Waiver of premium
—
Inbuilt: all future premiums (including optional benefits) waived on Total and Permanent Disability due to Accident
Premium
Sample annual premium
₹4,700
₹7,343
Sample premium is for
Option I (Level Sum Assured), Basic Sum Assured Rs 50 lakh, Non-Smoker, Male, Standard life, age 30 (last birthday), policy term 20 years, Regular annual premium; 'The above premiums are exclusive of taxes.' NOTE: Rs 50 lakh SA and 20-year term; the brochure gives no Rs 1 crore / 30-year figure.
30 year old Male, 30 year term, Rs 1 Crore cover, Lump Sum Option, No Optional Cover, preferred non-smoker category, per annum ('premiums which start as low as'). Tax treatment not stated.
Insurer
Death claims settled (insurer)
97.59%
98.31%
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
512N356V02
128N072V01

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

Digi Term (Plan 876)

  • Con: Cover ends earlier than 85% of the 27 term life insurance plans on Comparezi that state it (age 75)
  • Con: Lower maximum entry age than 93% of the 29 term life insurance plans on Comparezi that state it (age 45)
  • Con: Insurer paid a lower share of individual death claims than 88% of the 27 term life insurance plans on Comparezi that state it (97.59%)

Online Term Plan

  • Con: Cover ends earlier than 85% of the 27 term life insurance plans on Comparezi that state it (age 75)
  • Con: Lower maximum entry age than 86% of the 29 term life insurance plans on Comparezi that state it (age 55)
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