- Best Plans in 2025
- How to Choose?
- Factors Affecting Premiums
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Updated on Jul 07, 2025 9 min read
10 Best Life Insurance Plans in India 2025
A life insurance plan is a financial tool that offers financial security to your loved ones in case something uncertain happens to you. Moreover, these plans also help you create wealth over time and fulfil your financial goals. There are many life insurance plans available in the market, including term insurance plans, ULIPs, child insurance plans, pension plans, etc.
We know choosing the right life insurance can be a hectic task. Keeping this in mind, we have created a list of the 10 best life insurance policies in India that you can refer to when making a buying decision. You can use a life insurance calculator to calculate the premiums of any of these plans.
List of Best Life Insurance Plans & Policies in India in 2025
We have provided a list of the 10 best life insurance plans and policies in 2025 that you can consider for buying. The list is created based on various factors, including the claim-settlement ratio (CSR) of the insurers, plan features, customer reviews of the plan, etc.
| S. No | Plan Name | Type of Life Insurance | CSR (2023-24) | Entry Age | Unique Features |
| 1 | Axis Max Life Smart Term Plan Plus | Term Plan | 99.65% | 18 to 65 years |
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| 2 | Bajaj Allianz e Touch II | Term Plan | 99.23% | 18 to 65 years |
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| 3 | HDFC Life Click 2 Protect Super | Term Plan | 99.5% | 18 to 65 years |
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| 4 | ICICI Prudential iProtect Return of Premium | Term Insurance with Return of Premium (TROP) | 99.17% | 18 to 65 years |
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| 5 | SBI Life Wealth Assure Plan | ULIP | 98.25% | 18 to 50 years |
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| 6 | HDFC Life Click 2 Wealth Plan | ULIP | 99.5% | 0 to 60 years |
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| 7 | LIC New Jeevan Shanti Plan | Pension Plan | 93.48% | 30 to 79 years |
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| 8 | SBI Life Saral Pension Plan | Pension Plan | 98.25% | 18 to 65 years |
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| 9 | SBI Smart Champ Plan | Child Plan | 98.25% | Child’s Age- 0 to 13 years |
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| 10 | LIC New Children’s Money Back Plan | Child Plan | 93.48% | Child Age- 0 to 12 years |
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Overview of Best Life Insurance Plans & Policies in 2025
We have provided a brief overview of the best life insurance plans and policies in 2025 so that you have a better understanding of each life insurance plan.
Axis Max Life Smart Term Plan Plus
Axis Max Life Insurance is a joint venture between Max Financial Services and Axis Bank Limited. It is one of the leading life insurance companies in India with 304 offices across India. Smart Term Plan Plus by Axis Max Life Insurance is a pure term insurance plan specially designed to meet the changing life goals of every individual. This plan comes with a whole range of benefits, including financial protection, sum assured top-up, option to get premiums back, special exit value, and a lot more. In addition to all these benefits, you have the option to cover your spouse under the same policy with a joint-life cover.
Bajaj Allianz e Touch II
Bajaj Allianz is one of the most trusted private life insurers. It is a joint venture between Bajaj Finserv Limited, one of the most diversified non-banking financial institutions in India, and Allianz SE, one of the world’s leading global insurers. Bajaj Allianz e Touch II is a pure protection plan that provides financial protection to your loved ones in case of your unfortunate demise. This plan offers 3 plan variants, namely: Life Shield, Life Shield Plus, and Life Shield ROP. Buying this term life insurance plan offers a range of benefits, including a premium holiday option to skip premiums in emergency situations, choice of payout, flexible policy term, etc. You have the option to get all your premiums back with a return of premium option.
HDFC Life Click 2 Protect Super
HDFC Life Insurance is one of the best life insurance companies with a diverse product portfolio, including term insurance, ULIPs, pension plans, child plans, etc. HDFC Life Click 2 Protect Super is one of the best term life insurance plans that offers coverage at affordable premiums. You can avail of three of the plan options available with this plan, including Life Option, Life Plus Option, and Life Goal Option. This plan provides various benefits to the policyholders, including spouse cover option, life stage benefit, smart exit benefit, option to avail return on premiums, etc. You also have the option to increase your life cover up to 200% of the sum assured at different life stages.
ICICI Prudential iProtect Return of Premium
ICICI Prudential Life Insurance is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited with Rs 1 trillion in assets under management in FY 2025. They offer a range of life insurance solutions, including term insurance, investment plans, child plans, pension plans, etc. ICICI Prudential iProtect Return of Premium offers dual benefits of life insurance coverage and return of premiums with a single plan. This plan offers policyholders the choice of 4 plan options, including Return of Premium, Income Benefit, Return of Premium with Life-stage Cover, and Return of Premium with Life-stage Cover.
SBI Life Wealth Assure Plan
SBI Life Insurance is one of the most trusted private life insurance companies that offers a variety of life insurance products, including term insurance plans, ULIPs, pension plans, child plans, etc. SBI Life Insurance is one of the best Unit Linked Insurance Plans that provides life coverage along with market-linked returns on your invested amount. This plan offers two fund options to choose from- Equity fund and Bond fund. The policyholders are offered two free switches every month to adjust their investments.
HDFC Life Click 2 Wealth Plan
HDFC Life Click 2 Wealth Plan is a ULIP plan that provides life coverage along with market-linked returns on your invested amount. You have the option to choose from 3 plan options- Invest plus option, Premium waiver option, and Golden years benefit. This plan comes with various benefits, including special additions, a choice of 16 fund options, a premium waiver benefit, etc.
LIC New Jeevan Shanti Plan
Life Insurance Corporation is the largest public life insurance company. It was founded on 1st September 1956 and is headquartered in Mumbai, India. LIC caters to different segments of insurance products, including health, pension, unit-linked, and others. LIC New Jeevan Shanti Plan is one of the best pension plans that allows policyholders to choose between Single Life Annuity and Joint Life Annuity. You can buy this plan without undergoing medical examinations. There are various benefits of buying this pension plan, including death benefits, maturity benefits, policy rebates, etc.
SBI Life Saral Pension Plan
SBI Life Saral Pension Plan is a simple pension plan that provides you with regular income, with return of purchase price, without letting you make any compromises. The plan offers financial independence by helping you live a happy retirement life. You have two return of premium options, including single life annuity and joint life annuity. This plan also allows you to avail yourself of a loan in case of need.
SBI Smart Champ Plan
SBI Life Smart Champ Plan is a life insurance plan designed to offer financial protection to children so that they can fulfil their financial goals without any hassles. This plan offers various benefits, including high sum assured rebates, smart benefits for the child at different ages, terminal bonuses, waiver of premium benefits, etc.
LIC New Children’s Money Back Plan
New Children’s Money Back Plan by Life Insurance Corporation of India is one of the best child insurance plans designed to offer a secure financial future to your child. This plan comes with a range of benefits such as death benefits, maturity benefits, high sum assured rebates, participation in profits and much more.
Factors Influencing Life Insurance Premiums
Various factors influence your life insurance premiums. Understanding these factors helps you save on premiums. Let’s understand these factors in detail:
Policyholder’s Age
The age of the policyholder directly affects the life insurance premiums. The younger you buy a life insurance plan, the lower your premiums and vice versa.Lifestyle Habits
Your lifestyle habits also influence your life insurance premiums. The insurance company will charge a higher premium to a smoker than to a non-smoker.Health Conditions
The health of an individual directly impacts the premium amount. A healthy individual has to pay lower premiums than an individual who is suffering from any disease.Policyholder’s Gender
The policyholder’s gender also impacts their life insurance premiums. Females are generally charged lower premiums than males due to higher life expectancy.Occupation
The occupation of the policyholder also impacts their life insurance premiums. If a policyholder is engaged in risky professions like mining, construction, car racing, etc, the insurer will charge them a higher premium.
How to Choose the Best Life Insurance Plans & Policies in 2025?
To choose the best life insurance policy in 2025, you have to consider several factors. Understanding these factors helps you make the right decision.
Check the Claim Settlement Ratio (CSR) of the Insurance Company
Before buying a life insurance policy from an insurer, you must check its claim settlement ratio. This ratio highlights the number of claims settled by the insurer out of the total received claims in a particular financial year. You must buy a life insurance term plan from an insurer with a high claim settlement ratio.Look for Customer Reviews of the Plan
You must look for customer reviews and testimonials before buying a life insurance plan from an insurer. The reviews highlight how good and reliable an insurance company is.Compare Various Plans
You must compare various life insurance plans before choosing the one for you. It gives you a better idea of which insurance plan aligns with your requirements.Check the Solvency Ratio of the Insurer
The solvency ratio of an insurance company showcases its financial health. It highlights whether the insurance company has enough assets to settle the received claims. You must buy a life insurance policy from an insurer having a solvency ratio greater than 1.5. You can also check the solvency ratio of insurance companies in a single click.Look for the Market Reputation of the Insurer
You must check the insurance company’s market reputation before buying a life insurance policy from them. Choosing an insurer with a good market reputation will ensure that your family can get the claim amount in your absence.
Conclusion
Finding the best life insurance policy can be a hectic task. Are you also struggling to find the best life insurance policy? Then look no further, we have created a list of the best life insurance plans in 2025 after hours of researching that you can consider when buying.
If you are looking for No Spam, No Gimmicks, and Only Expert Insurance Advice, then visit PolicyX.com or call us at 1800-420-0269.
FAQs: Best Life Insurance Policy in India
1. Which company is best in life insurance?
There are various best life insurance companies, including Axis Max Life Insurance, Life Insurance Corporation of India, SBI Life Insurance, etc.
2. Which type of life insurance plan is the most affordable?
Term Insurance is the most affordable form of life insurance that you can consider buying for your family’s financial security.
3. What are the tax benefits of buying life insurance plans?
Buying a life insurance policy offers tax benefits under Section 80 (C) and Section 10 (10D). The premiums paid are eligible for deductions up to Rs 1.5 lakhs under Section 80 (C). Moreover, the death benefits received are also tax-free under Section 10 (10D).
4. Which insurance company has the highest market capitalisation in 2025?
Life Insurance Corporation of India has the highest market capitalisation in 2025.
5. What’s a good claim settlement ratio to look for in a life insurance provider?
A claim settlement ratio greater than 90% is considered good for a life insurance company.
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Written By: Himanshu Kumar
Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.
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