Pure protection plan – Offers life cover for a specified term.

 

No maturity benefit

 

Term Insurance with Return of Premium (TROP): Returns all premiums paid if the policyholder survives the term.

 

Life cover: Typically 10–20 times the annual premium.

 

No investment or savings element.

Combination of insurance + investment.

 

A portion of the premium goes toward life cover, the rest is invested in market-linked funds (equity, debt, etc.).

 

Returns are market dependent.

 

Lock-in period of 5 years.

 

Life cover: Usually 10 times the annual premium (minimum as per IRDAI regulations).