Investment Plans 274 views March 6, 2021

A life insurance plan can help people protect their loved ones in case something unfortunate happens to them. Some life insurance plans offer beyond the life cover i.e. some return on the money you pay via premium. But it’s important to choose a plan that can fit your requirements. Considering the same, we have picked three popular plans among customers – Bharti AXA Life Shining Stars, Reliance Nippon Life Future Income, and LIC Jeevan Labh Plan. All these life insurance plans help people get assurance about their financial security. So, we will compare all three plans here so that you can choose the best one for you. Before comparing these plans, it would be good to look at the striking features of these plans. Check the below table to know the same.

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Bharti AXA Life Shining StarsReliance Nippon Life Future IncomeLIC Jeevan Labh Plan
The flexibility of choosing the policy term and premium payment term

Choice of 2 maturity payout options

Inbuilt cash benefit in case of death

Tax benefits

Affordable premium
The perfect combination of savings and income

Protection for your family

Flexible policy term

Loan against policy

Tax benefits
Flexible policy term and premium payment term

Loan against policy

Rebate on choosing a higher sum assured

Reversionary bonus through participation in benefits

Now that you have understood the key features of Bharti AXA Life Shining Stars vs. Reliance Nippon Life Future Income vs. LIC Jeevan Labh Plan, we will discuss them in detail. Do read to know more!

Death Benefit Comparison of Bharti AXA Life Shining Stars vs. Reliance Nippon Life Future Income vs. LIC Jeevan Labh Plan!

A life insurance policy provides a death benefit to the nominee or beneficiary in case a policyholder dies during the policy term. Do remember that the policy should be in force, and all due premiums should have been paid as on the date of death to receive these death benefits.  You can check the below table to know more about death benefits provided by Bharti AXA Life Shining Stars, Reliance Nippon Life Future Income, and LIC Jeevan Labh Plan.

Bharti AXA Life Shining StarsReliance Nippon Life Future IncomeLIC Jeevan Labh Plan
The death benefit will be equal to the sum assured, which will be the highest of the following amounts -

11 times the annualized premium

105% of all premiums paid as on date of death

Absolute amount assured to be paid on death equal to the Sum Assured

Sum Assured on Maturity, equal to the Sum Assured under the policy
If a death happens during premium payment term -

The sum assured on death plus simple reversionary bonus as on the date of death and the terminal bonus will be given.

If a death happens after the premium payment term -

The sum assured on death plus simple reversionary bonus as on the date of death and terminal bonus (if any) minus reversionary bonus already paid as a part of the income benefit, will be payable
Sum assured on death plus vested simple reversionary bonus and the final additional bonus will be payable, where the sum assured on death will be higher of the -

7 times the annualized premium

Absolute amount assured to be paid on death equal to the Sum Assured


Do remember that death benefit shall not be less than 105% of all the premiums paid as on the date of death

Maturity Benefit Comparison of Bharti AXA Life Shining Stars vs. Reliance Nippon Life Future Income vs. LIC Jeevan Labh Plan

All these life insurance plans from Bharti AXA, Reliance Nippon and LIC also provide maturity benefits to the policyholders if they survive until the end of the policy term. To know the respective death benefits of these plans, you can check the below table.

Bharti AXA Life Shining StarsReliance Nippon Life Future IncomeLIC Jeevan Labh Plan
Here, you will get to choose between maturity payout options -

Flexi Payout Option - With this option, you can receive a maturity benefit as a lump sum amount at the end of any year during the maturity payout period. The benefit will be equal to (Flexi payout factor * sum assured) where the factor can be 105%, 110%, 116%, and 122% for respectively 1, 2, 3, and 4 years after the maturity date.


Annual Payout Option - Here, maturity benefit will be paid as five equal annual payouts at the end of each year during the maturity period starting from the date of maturity. Each annual payout will be equal to 22% of the sum assured amount.
Terminal Bonus (if any), plus

Last installment of Income Benefit


Where income benefit is the (base sum assured + vested simple reversionary bonus) x income benefit factor
Sum assured on maturity equaling the basic sum assured along with vested simple reversionary bonus and final additional bonuses will be payable as a lump sum at the end of the policy term

Additional Features of Bharti AXA Life Shining Stars vs. Reliance Nippon Life Future Income vs. LIC Jeevan Labh Plan

Apart from death and maturity benefits, we are comparing Bharti AXA Life Shining Stars, Reliance Nippon Life Future Income, and LIC Jeevan Labh Plan based on other factors such as policy term, premium payment term, sum assured, etc. Check the below table to know more!

FeaturesBharti AXA Life Shining Stars PlanReliance Nippon Life Future IncomeLIC Jeevan Labh Plan
Minimum Sum AssuredINR 50,000INR 2,00,000INR 2,00,000
Maximum Sum AssuredNo LimitNo LimitNo Limit
Policy Term12, 13, 14, 15, 16, 17, 18, 19 or 20 years14, 16, 18, 20, 22 or 2416, 21 or 25 years
Premium Payment Term7, 8, 9, 10, 11, 12, 13, 14 or 15 yearsHalf of the Policy Term10, 15 or 16 years
Minimum Premium AmountINR 2,169 per annumINR 15, 680 per annum
Maximum Premium AmountNo LimitNo Limit
Premium Payment FrequencyAnnual, Half-yearly, Quarterly and MonthlyYearly, Half-yearly, Quarterly and MonthlyYearly, Half-yearly, Quarterly and Monthly
Rider OptionsHospi Cash Rider

Accidental Death Benefit
Rider

Term Rider
Term Life Insurance Benefit rider

Major Surgical Benefit Rider

Critical Conditions Rider

Accidental Death Benefit
Rider

Accidental Death and Disability Rider

Accidental Death and Disability Plus Rider
Accidental Death and Disability Rider

New Term Assurance Rider
Loan Against PolicyUp to 70% of the surrender value (with a minimum of INR 15,000)Up to 80% of the surrender valueAvailable

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