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Beshak  gradient-star  Rating - Insurance Ratings based on stuff that matters to you!

01. Claims Experience  02. Customer Service Experience  03. Product Benefits
Home arrow Term Life Insurance arrow Best Term Plans arrow SUD Life Protect Shield vs LIC New Tech Term

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SUD Life Protect Shield vs LIC New Tech Term

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SUD Life Protect Shield with similar Term Insurances

SUD Life Protect Shield

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LIC New Tech Term with similar Term Insurances

LIC New Tech Term

IndiaFirst Life Elite Term

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LIC New Tech Term

Bandhan Life iTerm Comfort

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LIC New Tech Term

Bajaj Allianz Life iSecure

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LIC New Tech Term

Max Life Smart Secure Plus

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LIC New Tech Term

HDFC Life Click 2 Protect Super

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LIC New Tech Term

India First Life Guaranteed Protection Plus

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LIC New Tech Term

HDFC Life Click 2 Protect Life

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LIC New Tech Term

Aditya Birla Sun Life DigiShield

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LIC New Tech Term

Canara HSBC Young Term Plan

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LIC New Tech Term

SUD Life Protect Shield Plus

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LIC New Tech Term

Canara HSBC iSelect Smart360

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LIC New Tech Term

Edelweiss Life Zindagi Protect

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LIC New Tech Term

PNB Metlife Mera Term Plan Plus

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LIC New Tech Term

Bandhan Life iTerm Prime

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LIC New Tech Term

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LIC New Tech Term

Bajaj Allianz Life Diabetic Term Plan

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LIC New Tech Term

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LIC New Tech Term

TATA AIA Maha Raksha Supreme

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LIC New Tech Term

ICICI Pru iProtect Smart

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LIC New Tech Term

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LIC New Tech Term

TATA AIA Sampoorna Raksha Supreme

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LIC New Tech Term

PNB MetLife Aajeevan Suraksha Plan

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LIC New Tech Term

HDFC Life Click 2 Protect Elite

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LIC New Tech Term

Kotak Life e-Term

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LIC New Tech Term

SBI Life eShield Next

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LIC New Tech Term

Bajaj Allianz Life Smart Protection Goal

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Notes

1- Beshak Ratings data was last updated in June 2024.

2- All data was sourced from public disclosures (FY 2023-2024, Q4) except LIC (their FY 2023-2024, Q4 data isn't fully updated, so we have considered their FY 2023-2024, Q3 PD data), insurer websites, and the IRDAI website. 

3- Only features that are currently available for purchase online were considered when calculating the Beshak Ratings.

4- In the Premium Ratings, we do not display premium amounts - instead, we show the product's relative pricing compared to the median.

5- Premium for all plans is calculated for the following profile: 30-year-old, non-smoker, married male, for a sum assured of INR 1 Crore, up to the age of 65 years, paying annual premiums, till the end of the policy. Except for these plans:

  ・Bajaj Allianz Life Diabetic Term Plan Sub 8 HbA1c - Premium is calculated for a 30-year-old, non-smoker, married male, having Type 2 diabetes, with HbA1c level between 6.5 to 7, for a sum assured of INR 1 Crore, up to the age of 55 years, paying annual premiums for 25 years. 

  ・HDFC Life Click 2 Protect Elite - Premium is calculated for a 30-year-old, non-smoker, married male, for a sum assured of INR 2 Crore, up to the age of 65 years, paying annual premiums for 15 years. 

  ・IndiaFirstLife Guaranteed Protection Plus Plan - Premium is calculated for a 30-year-old, non-smoker, married male, for a sum assured of INR 1 Crore, up to the age of 75 years, paying annual premiums for 40 years. 

  ・TATA AIA Maha Raksha Supreme - Premium is calculated for a 30-year-old, non-smoker, married male, for a sum assured of INR 2 Crore, up to the age of 65 years, paying annual premiums, till the end of the policy. 

6- The overall ratings do not include the premium rating. This is because we believe that the affordability of premiums is a personal thing. Something that seems unaffordable or expensive to one person could seem cheap and affordable to another, regardless of their income. We leave it up to our users to decide whether the price they pay seems reasonable for the features they receive.

7- The Response time on Twitter (Beta) was calculated using a sample set of tweets from February to August 2023 - (Analyzed in September 2023).

8- Claims Experience was assessed based on an audit of various processes and facilities offered by the insurers, during claim settlement.

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Compare SUD Life Protect Shield and LIC New Tech Term

Claims Track Record:

SUD Life Protect Shield

SUD Life Insurance Company has settled 88.65% of claims within 30 days and has a higher number of claim-related complaints compared to other insurers. Their claim settlement ratio is 96.07%, and the claim amount settlement ratio is 91.41%. They provide online claim tracking and a dedicated toll-free helpline for claims inquiries. On the flipside, they do not offer the services of a personal relationship manager for claims, home pick-up service for claims, and their claim form is moderately lengthy.

LIC New Tech Term

Life Insurance Corporation of India boast an impressive 97.95% claims settlement rate within 30 days, with fewer claim complaints compared to other insurers. Life Insurance Corporation of India’s claim settlement ratio stands at 98.52%, and their claim amount settlement ratio is 96.02%. Additionally, their claim application process is streamlined with a short claim form. However, they do not provide a dedicated personal relationship manager for claims, a home pick-up service for claims documents, and toll-free support for claim-related inquiries. Furthermore, there is no online claim tracking facility available.

Service Experience:

SUD Life Protect Shield

You can contact SUD Life Insurance Company through their toll-free telephone number or Twitter. Our research indicates that the response rate on Twitter is average and the toll-free number is quick, compared to other insurers. Therefore, you and your family can contact their toll-free number for timely assistance.

LIC New Tech Term

Life Insurance Corporation of India provides customer service via their toll-free number and Twitter. According to our research, their Twitter response rate was slow, while their toll-free service was quick, compared to other insurers. If you or your family have any questions or concerns, call their toll-free number to receive a prompt response.

Product Benefits:

SUD Life Protect Shield

SUD Life Protect Shield offers various customization options. It provides coverage up to 70 years of age with a range of limited payment terms, including 5, 7, 10, 12, and 15 years. Premiums can be paid on a monthly, quarterly, half-yearly, or annual basis, providing flexibility in payment frequency. You have the choice of several claim payouts options, such as a lump sum, monthly instalments, or a combination of both. Notably, this policy does not include an increasing cover feature. Speaking about riders, the SUD Life Protect Shield offers a Critical Illness Rider. It is an optional add-on that you can include in your base policy to enhance your coverage.

LIC New Tech Term

LIC New Tech Term provides a range of flexible customization options. One of the notable features is the Increasing Cover option, which gradually raises your coverage by 10% each year until it becomes double the base policy cover. This increase in coverage starts from the 6th year of the policy. The LIC New Tech Term policy offers a life cover up to the duration of 70 years with various limited payment options - (Policy term - 5) and (Policy term - 10). And, the premiums are payable either half-yearly or annually. When it comes to payout options, you can choose between a lump sum payment and monthly instalments. LIC New Tech Term provides only one rider - Accidental Death Benefit Rider. You can include this rider to your base policy to enhance its coverage.