Buy zero-cost term plan if you are keen on a return, say experts

If not, stick to a plain-vanilla plan and invest the surplus in mutual funds

Two types of term insurance plans have been available in the market so far. One is the plain-vanilla plan where if a person dies during the policy term, his nominee gets the sum assured. If he survives, he gets nothing. The second is the return-of-premium (RoP) term plan. The essential difference between these plans is that in the latter, if the insured survives the policy term, he gets back all the premiums he has paid. RoP plans are about twice as expensive as pure term plans. 

Now, two players—Max Life Insurance (Smart Secure Plus Plan) and Bajaj Allianz Life Insurance (eTouch