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Updated on May 19, 2026 6 min read

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Term Insurance with Return of Premiums

Term Insurance with Return of Premium (TROP) is a type of term insurance plan in which all the premiums paid towards your term plan will be paid back to you in case you survive the complete policy term.

Term Insurance with Return of Premium (TROP) provides dual benefits to its customers. Under this Plan, the customer gets death benefits and survival benefits as well.

Best Term Plans with Return of Premium in 2024

Given below is the list of best-term returns of premium plans as of 2024.

S.No.	Insurance Provider	TROP Plan	Claim settlement Ratio (2021-2022)	Entry Age	Min. Sum Assured
1.	PNB Metlife Insurance	PNB MetLife Mera Term Plan Plus	97.33%	18-50 years	Rs. 50 Lakh
2.	ICICI Life Insurance	ICICI Prudential iProtect	97.82%	18-60 years	Rs. 75 lakh
3.	SBI Life Insurance	SBI Life Smart Samadhan Plus	97.05%	18-65 years	Rs. 5 lakh
4.	Max Life Insurance	Max Life Smart Term Plan	99.34%	18-65 years	Rs. 25 lakh
5.	Aditya Birla Life Insurance	Aditya Birla Capital Digishield Plan	98.07%	18-65 years	Rs. 50 Lakh

Top Term Plans with Return of Premium- At a Glance

Here we have listed some of the best TROP plans in the Indian market.

PNB Metlife Mera Term Plan Plus
A non-linked, pure-risk Premium term insurance plan, that provides life cover till the age of 99 years even if you choose a limited premium paying term. Under this plan, customers can opt to insure their spouse in the same with options to choose the return of premium on survival to make a truly comprehensive protection solution.
ICICI Pru iProtect plan
ICICI Pru iProtect term plan is one of the first term plans in the insurance industry, that offers claim payment on the diagnosis of any of 34 critical illness diseases. The claim under these benefits will be paid on the first diagnosis itself without any hospital bills. Under this plan, the policyholder can also opt for 1 crore of accidental death benefits without any rider.
SBI Samadhan Plus Term Plan
A non-linked, non-participating term insurance plan with return of premium features which aims to provide life cover up to the whole policy term as well as return all the paid premiums at a time of maturity. Like the other term insurance plans this plan also provides a grace period of 30 days from the premium due date for yearly and half-yearly premium paying modes.
Max Life Smart Term Plan
A non-linked, non-participating term plan with a return of premium feature. Under this plan, a claim will be paid if the customer is diagnosed with any 40 listed critical illness diseases by choosing critical illness benefits. Under this plan, the customer can get all the paid premiums back after the completion of the policy term excluding taxes paid.
Aditya Birla Capital Digi-Shield plan
Aditya Birla’s Capital Digi-Shield term plan offers the flexibility of choosing 10 different options according to your varied protection needs. With the availability of accelerated critical illness, it covers 42 specified critical illnesses on payment of an additional premium.

What are the Benefits of Term Return of Premium (TROP) Plans?

Like a standard term plan, TROP plans also provide a lump sum payout to the dependents in case of the policyholder’s demise.

However, the option of taking back all the paid premiums after surviving the whole policy term makes TROP plans different from regular term plans. These are suitable for customers who aim to receive their premiums paid for the term insurance back.

Conditions You Should Know Before Opting For a Term Plan With Return of Premiums

Following are some conditions that come attached with TROP plans. Have a look at them.

Generally, term Return of Premium (TROP) plans are more expensive than standard term plans.

Let us understand by an example:
Suppose a 35-year-old, non-smoker male opts for a 1 crore life cover with an annual mode of premiums, the approximate premiums that he will have to pay will be:

Insurer	Plan Name	Premium for Pure Term	Premium for TROP
ICICI Pru	iProtect smart	17,647	40,455
HDFC Life	Click to Protect Super	18,934	47,712
Max life	Smart Secure plus	16,513	30,734
Bajaj	Bajaj Allianz Life e-touch	14,628	25,888
Canara HSBC	Young Term Plan-Life Secure	14,003	25,005

No interest on the premiums you have paid
Unlike the ULIP Plans, term insurance with a return of premium does not give any interest on the premiums you paid over the policy term. Even the premium amount is not adjusted for inflation.
Deduction of taxes
When it comes to the maturity of the plan, you will be only paid the sum of all premium amounts you paid over the policy term minus the taxes and charges imposed by the insurer.

Conclusion

Term Return of Premium Plans (TROP) is the perfect solution for those who aim to create wealth along with life cover under the same plan. Trop Plans return all the paid Premium as a survival benefit, excluding paid taxes if the customer survives the whole policy term. The premiums of TROP Plans are more costlier than standard term Plans.

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