Best Term Insurance Plans with Return of Premium (ROP/TROP) for a 40-Year-Old in India (2026 Update)
At 40 years old (assuming healthy, non-smoker male/female), a Return of Premium (ROP) term insurance plan (also called TROP) is a great hybrid option. It provides pure life cover (₹1 Crore or more) during the policy term — if you pass away, your nominee gets the full sum assured (tax-free). If you survive the entire term (e.g., till age 70–85), you get 100% of all premiums paid back (excluding extras like GST/riders, sometimes with minor deductions). This adds a “savings” element, though premiums are 30–60% higher than pure term plans due to the maturity refund.
Why Consider ROP at 40?
- Balances protection (for loans, family, kids’ education) with potential full premium return if you outlive the term.
- Recommended cover: 10–15× annual income (₹1–2 Crore common).
- Tax benefits: Premiums under 80C (up to ₹1.5 Lakh); payout tax-free under 10(10D).
- Premiums rise sharply after 40 — buy now to lock in rates.
- Latest IRDAI CSR (FY 2024-25): Top players 99%+ for reliable claims.
Key Drawbacks of ROP — Higher cost than pure term; no partial refunds on early exit (unless special features); better for those who value “money-back” peace of mind over lowest premiums.
Top ROP Term Insurance Plans for Your Age (2026)
Based on features, CSR, flexibility, and availability (from Policybazaar, insurer sites, comparisons):
- Axis Max Life Smart Term Plan Plus (Return of Premium Variant)
- ROP: 100% premiums returned on survival (policy term up to 50 years max for ROP).
- CSR: ~99.41–99.79% (top-rated).
- Standout: Flexible variants, terminal illness benefit, premium break, high reliability.
- Best for: Overall value and strong claim track record.
- HDFC Life Click 2 Protect Super / Supreme (with ROP Option)
- ROP: Available as add-on/variant — full premiums back on maturity.
- CSR: ~99.50–99.68% (excellent).
- Standout: ₹5 Lakh instant claim payout, premium waiver, terminal illness advance, flexible payouts.
- Best for: Feature-rich + trusted brand.
- Tata AIA Sampoorna Raksha Promise / Maha Raksha Supreme (with ROP)
- ROP: 100% premiums returned (some variants offer this explicitly).
- CSR: ~99.13–99.41%.
- Standout: ₹3 Lakh instant payout on claim, up to 18.5% discounts, flexible income + lump sum.
- Best for: Quick support and competitive discounts.
- ICICI Pru iProtect Smart Plus (with Smart Exit / ROP Features)
- ROP/Smart Exit: Options for premium return on survival or early exit (100–200% in some cases).
- CSR: ~99.17–99.3%.
- Standout: Low base cost, flexible payouts, premium delay.
- Best for: Budget-conscious with return features.
Other options: Bajaj Allianz Smart Protect Goal or Kotak Signature Term (some ROP variants mentioned in reviews).
Quick Comparison Table (Indicative for 40-Year-Old Healthy Non-Smoker Male, ₹1 Crore Cover, ~30–40 Year Term / Till Age 70–80)
| Plan | Approx. Monthly Premium (ROP Variant) | Claim Settlement Ratio | ROP Benefit | Key Standout Features | Best For |
|---|---|---|---|---|---|
| Axis Max Life Smart Term Plan Plus (ROP) | ₹2,000–₹3,500+ | 99.41–99.79% | 100% premiums back on survival | High CSR, flexible, terminal illness | Reliability & value |
| HDFC Life Click 2 Protect Super (ROP) | ₹2,200–₹4,000+ | 99.50–99.68% | Full premiums refunded at maturity | ₹5L instant payout, premium waiver | Features & trust |
| Tata AIA Sampoorna Raksha (ROP) | ₹1,800–₹3,200+ | 99.13–99.41% | 100% return option | ₹3L instant claim, discounts | Fast processing & savings |
| ICICI Pru iProtect Smart Plus | ₹1,800–₹3,000+ | 99.17–99.3% | Smart exit/premium return variants | Affordable, flexible payouts | Budget with return |
Notes: Premiums are rough estimates (2026 data from comparisons/calculators; actuals 30–60% higher than pure term ~₹1,200–₹2,000/month). Vary by exact term, gender (women lower), online discounts (10–18%), health, and limited pay options. ROP often requires longer terms (e.g., 30+ years) for full return.
Final Recommendation
For most 40-year-olds, Axis Max Life Smart Term Plan Plus (ROP Variant) or HDFC Life Click 2 Protect Super offer the best mix of high CSR (99%+), solid features, and reliable premium return. If you want quicker support, go Tata AIA.
Pro Tip: Use online calculators on Policybazaar, insurer sites (Axis Max, HDFC, Tata AIA), or aggregators — input your details (age 40, non-smoker, ₹1 Crore, term till 70–80) for exact quotes in minutes. Buy online for discounts. Disclose health accurately; add riders (critical illness) if needed. Pure term is cheaper for max protection — ROP suits if you like the “no-loss” angle.
Secure your family + potential refund — get quotes today! Share gender, exact sum/term, or income for more tailored advice.
