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Term Life Insurance · head to head

Signature 3D Term Plan vs Mera Term Plan Plus

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Quick verdict

  • Mera Term Plan Plus 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
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
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
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
₹5,00,000
₹25,00,000
Maximum sum assured
No Limit subject to Board Approved Underwriting Policy (POSP: Rs 25 Lakh)
No limit, subject to Underwriting
Plan
Plan options
3D - Pure Term, 3D - Accelerated, 3D - Family Plus, 3D - TROP
Life, Life Plus, Life plus Health
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)
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 (3D - Pure Term, Accelerated, TROP); Lumpsum plus Regular Monthly Payouts for 10 years (3D - Family Plus)
Lump sum; Monthly Income (level monthly income for 10 years at 1.1022% of Sum Assured on Death); Lump sum plus Monthly Income
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)
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
Yes
Waiver of premium
Waiver of Premiums in case of Critical / Terminal Illness: applicable with Aviva New Critical Illness Rider and 3D - Accelerated option
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
₹11,371
₹10,400
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, 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)
99.07%
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
122N148V02
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

Signature 3D Term Plan

  • 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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