Best Term Insurance Plans in 2026
People often get confused about what a term insurance plan is. Simply put, term life insurance is a pure protection plan that provides financial coverage to your loved ones or nominees in case of your uncertain death during the policy tenure. The nominee can use the money received to cover their expenses. You can buy one of the best term insurance plans starting at just Rs 11 per day.
We always want the best for our family, but when buying term insurance, why don’t we do proper research and choose the best term insurance? We know selecting the best term insurance plan is a tricky and time-consuming task. However, we are here to help you choose a term insurance policy to keep your family financially stable even in your absence.
To choose the best term life insurance policy, you must consider several important factors. These factors will help you make the right decision.
- CSR (Claim Settlement Ratio) of the insurance company
- Sum assured
- Market reputation of the insurer
- Additional riders offered with the plan
- Your liabilities
- Coverage
- Customization options available with the plan
- The solvency ratio of the insurance company
- Customer reviews and testimonials
We have provided you with a list of the best term insurance plans in India, considering the above factors that you can choose from.
Best Term Life Insurance in India in 2026
Below is a list of the 10 best term insurance plans in India that can help you choose the right term insurance policy for you.
We have considered various factors to make this list available for you, including:
Brand value of the insurer: The brand value refers to how well-known the insurer is based on its brand recognition and the annual premiums of the company declared by the IRDAI in the 2023-24 annual report.
CSR: Claim Settlement Ratio indicates the percentage of claims the insurer has settled during the financial year against the total number of claims they received.
Affordability: It refers to how budget-friendly the plan is.
Rating indicators:
- 4.5 to 5 - Best
- 4 to 4.5 - Good
- Below 4 - Average
| Plan Name | Benefits Offered | CSR (2023-24) | Minimum Annual Premiums | Brand Value | Final Rating |
| Axis Max Life Smart Term Plan Plus | Insta-claim payout; 7 Plan options to choose from; Special Exit Value - 2X Premiums Back | 99.65% | Subject to the minimum sum assured | 5 | 4.9 |
| Tata AIA Sampoorna Raksha Promise | Whole life coverage option; Joint life coverage option; Flexible payouts | 99.13% | Rs 502 per month | 5 | 4.9 |
| ICICI i-Protect Smart Lump Sum Plan | Life stage protection; Smart exit benefit; Whole life option | 99.17% | Rs 1,083 per month | 5 | 4.9 |
| HDFC Life Click 2 Protect Super | Return of premium option; Waiver of premium; Joint life option | 99.5% | Rs 1,181 per month | 5 | 4.8 |
| Bajaj e Touch II | High sum assured discounts; Flexible death payout; Covers terminal illness and disability | 99.23% | Rs 873 per month | 5 | 4.8 |
| TATA AIA Maha Raksha Supreme | Option to choose whole life cover; Choice to increase cover for a specific period; Inbuilt waiver of premium | 99.13% | Rs 775 per month | 5 | 4.8 |
| Bandhan Life i-Term Prime | Special exit value; Zero documentation and video medicals; Flexible payment options | 99.66% | Rs 1,243 per month | 4.3 | 4.5 |
| Aviva Life Signature 3D | Return of premiums option available; Covers accidental death; Covers critical and terminal illnesses | 98.98% | Rs 1,062 per month | 4 | 4.3 |
| Future Generali Express Term Life Plan | Flexible-premium payment term; Covers critical or terminal illness; Waiver of premium on accidental death | 96.08% | Rs 871 per month | 4 | 4.3 |
| Bharti AXA Life Flexi Term Pro Plan | Whole life coverage; Joint life coverage; Life stage benefit | 99.01% | Rs 1,074 per month | 4.5 | 4.3 |
Overview of the Best Term Insurance Plans in 2026
We have provided you with a brief overview of the best term life insurance plans in 2026 to have a better understanding. Several leading term insurance companies in India offer comprehensive plans to ensure financial security for your loved ones.
Axis Max Life Smart Term Plan Plus
Smart Term Plan Plus is an easy-to-customize plan that helps to meet the changing needs of customers at their various life stages. This plan provides a Special Exit Value - 2X of the Premiums Paid. You can choose from 7 plan options.
- Regular Cover
- Rebalancing Cover
- Early ROP Plus
- Smart Cover
- Return of Premium
- Whole Life Cover
- Income Protection Cover
It is one of the best term insurance plans with a return of premium option available.
Why Choose Axis Max Life Smart Term Plan Plus?
- Inbuilt terminal illness cover.
- Special Exit Value - 2X of the Premiums Paid.
- Cover continuance benefit.
- Instant payment on claim intimation.
- Additional rider options to choose from.
- Whole life coverage.
- Special discount for female policyholders.
Tata AIA Sampoorna Raksha Promise
Sampoorna Raksha Promise by Tata AIA Life Insurance is one of the best pure term insurance plans. It is the ultimate financial product that offers coverage to your loved ones in case of your uncertain demise. There are 4 plan options available for the policyholders to choose from:
- Life Promise
- Life Promise Plus
- Joint Life Promise
- Joint Life Promise Plus
Why Choose Tata AIA Sampoorna Raksha Promise?
- Option to choose whole life coverage.
- Inbuilt waiver of premium on the diagnosis of terminal illness.
- Flexibility to choose joint life coverage.
- Instant payout on claim intimation.
- Special premium discount for female policyholders.
- Choose how your family will receive death benefits - lump sum or in instalments.
ICICI i-Protect Smart Lump Sum Plan
ICICI Pru iProtect Smart is a special protection plan that comes with an option to customize your plan based on your needs. The plan offers two optional benefits and allows policyholders to select the protection by choosing one benefit option. It is one of the best online term insurance plans in India.
Why Choose ICICI i-Protect Smart Lump Sum Plan?
- Offers coverage against death, terminal illness, and disability.
- Special premium rates for non-tobacco users and women.
- Get a guaranteed discount on your first year’s premium if you’re a salaried individual.
- Flexible premium payment term: Regular pay or Limited pay.
- Flexibility to select payout option, as a lump sum, as a monthly income for 10/ 20/ 30 years, or a combination of lump sum & monthly income.
HDFC Life Click 2 Protect Super
HDFC Life Click 2 Protect Super plan is a one-stop plan for all your needs, whether you want maturity benefits or to increase your life coverage at certain life stages. It is the best term insurance plan with a return of premium.
It offers multiple built-in benefits, such as an increased death benefit option, a waiver of premium on critical illness diagnosis, a joint life option, a life stage option, and much more. It offers three plan options, allowing policyholders to select the protection level.
- Life & Critical Illness Rebalance
- Life Protect
- Income Plus
Why Choose HDFC Life Click 2 Protect Super.
- Provides acceleration of death benefit on diagnosis of covered terminal illness till 80 years.
- Enhance your sum assured amount by up to 200% under the ’Life Option’.
- Cover your spouse under a single plan by paying additional premiums.
- Flexibility to select the payout option as monthly instalments.
- With the ROP plan option, get back all premiums paid as a maturity benefit.
Bajaj e Touch II
Bajaj e Touch II term insurance is a simple term plan that allows you to choose from 3 plan options:
- Life Shield
- Life Shield Plus
- Life Shield ROP
This plan offers coverage against death and terminal illnesses. You have the option to get your premiums back as part of the maturity benefits. It is one of the best pure term insurance plans that you can purchase online.
Why Choose Bajaj e-Touch II Term Plan?
- Flexible premium payment options - Limited/ Regular pay.
- Extra benefits are paid to the nominee in case of death due to an accident.
- Option to choose how your family receives death benefits - lump sum, monthly income, or a combination of both.
- Premium holiday option to skip your premiums for 1, 2, or 3 years.
- Option to delay premiums by 12 months with auto cover continuance benefit.
- Flexible premium payment frequency allows you to pay monthly, quarterly, half-yearly, and yearly premiums.
TATA AIA Maha Raksha Supreme
Tata AIA Maha Raksha Supreme is a term plan with seven death benefit payout options to choose from:
- Life Secure Option
- Life Secure Plus Option
- Joint Life Secure Option
- Joint Life Secure Plus Option
- Step-up Secure Option
- Step-up Secure Plus Option
- Legacy Secure Plus Option
You can also avail whole life cover with this term plan. This plan offers a special discount on first-year premiums to salaried individuals.
Why Choose TATA AIA Maha Raksha Supreme?
- 50% of the base sum assured is provided on the diagnosis of listed critical illnesses.
- Inbuilt waiver of premium on terminal illness.
- Joint life option to cover your spouse under the same plan.
- Instant payout on claim intimation.
- Option to increase cover for a specific period during the policy tenure.
Bandhan Life i-Term Prime
Bandhan Life i-Term Prime is a pure protection-oriented plan. It offers financial security for your family and lets you live a tension-free life. The plan is available online and offers a 5% discount on first-year premiums.
Why Choose Bandhan Life i-Term Prime?
- Get life cover at very reasonable premiums.
- Option to surrender your policy and get all your premiums paid back as a Special Exit Value.
- Flexible premium payment terms allow you to pay a premium at your convenience.
- Two inbuilt riders: accidental death and critical illness rider.
Aviva Life Signature 3D
Aviva Signature 3D Term Plan is the best term life insurance plan that covers you against death, disability, and disease. It offers four plan options, allowing policyholders to select the protection level by choosing one benefit option.
Why Choose Aviva Life Signature 3D?
- Coverage against death, disability, and disease and offers comprehensive financial protection to your family.
- With the TROP plan option, you can get back all premiums paid once you outlive the policy term.
- Get additional payout in the event of death due to an accident.
- Under the critical/terminal illness rider, if you are diagnosed with any covered illnesses, your future premium will be waived.
- Get an extra payout upon the first diagnosis of any critical illness.
- Offers special premium rates for women and non-tobacco users for a sum assured of more than 50 lakhs.
Future Generali Express Term Life Plan
Future Generali Express Term Life Plan is one of the best online term insurance plans that allows you to tailor your plan based on your preferences. It offers four plan options as per your protection needs; you can choose from any one of the following options:
- Life cover
- Extra life cover
- Life plus health
- All-in-one cover
Why Choose Future Generali Express Term Life Plan?
- Flexibility to choose premium payment terms between limited pay or regular pay.
- Offers special premium rates for women and non-smoking users.
- Coverage against death, disability, and disease.
- Future premiums shall be waived, and the policy will continue in the event of Accidental Total and Permanent Disability (ATPD).
- Extra payout upon the diagnosis of any critical/ terminal illness.
Bharti AXA Life Flexi Term Pro Plan
Bharti AXA Life Flexi Term Pro is one of the best term insurance plans with riders which can be customized as per your needs. This plan offers you the option to choose between single life/ joint life coverage as per your financial needs.
Why Choose Bharti AXA Life Flexi Term Pro Plan?
- Option to cover yourself for the whole life.
- Increasing sum assured at various life stages.
- Choice of death benefits payout as a lump sum, monthly income, or a combination of both.
- Flexible policy tenure and premium payment tenure.
- 2 Plan options - ROP and without ROP.
- Additional riders to enhance your plan coverage.
Expert Insights
Keeping your term plan and an investment plan separate is one of the best financial decisions you can make to secure your loved ones. Doing so helps you save a considerable amount in premiums.
Term Insurance Eligibility Criteria
Check the eligibility criteria to buy a term life insurance plan in India.
| Eligibility Criteria | Details |
| Entry Age | The minimum age to buy a term insurance plan is 18 years, while the maximum age is 65 years, though this can vary from insurer to insurer. |
| Citizenship | Indian citizens and Non-Resident Indians (NRIs) can buy a term insurance plan in India. |
| Occupation | You can buy a term life insurance policy if you are self-employed, a salaried employee, or a part-time worker. |
| Lifestyle Habits | If you are a smoker or consume alcohol, the premiums are higher compared to a non-smoker. |
| Medical History | Your premiums are higher if you have records of illness or any diseases. |
| Coverage Amount | The insurer may check your financial stability to determine whether you are eligible for the chosen sum assured or not. |
How Does a Term Plan Secure My Family’s Future?
A term life insurance plan is one of the simplest yet most powerful financial tools to safeguard your loved ones’ future. Here’s how it ensures peace of mind and long-term protection:
1. Financial Protection in Your Absence
In case of your untimely demise, your family receives a lump sum death benefit. This amount can help them maintain their lifestyle, pay bills, and cover future goals like children’s education or marriage.
2. Helps to Pay Off Outstanding Liabilities
If you have ongoing EMIs (home, car, personal loan), the term plan payout can help clear debts. This protects your family from the burden of repaying loans in your absence.
3. Supports Your Children’s Education & Future
A well-planned sum assured can fund your child’s schooling, college, or career goals. You ensure your child’s dreams are not compromised due to lack of financial resources.
4. Affordable Coverage with High Sum Assured
Term insurance offers large coverage at low premiums, especially when bought young. This means you get high protection for your family without affecting your monthly budget.
5. Customisable with Riders for Enhanced Protection
Add-ons like critical illness cover, accidental death benefit, or waiver of premium increase the scope of protection. These riders provide additional financial support during emergencies beyond just death cover.
Why Should I Buy Term Insurance?
There are various reasons that you should consider when buying a term life insurance plan:
Higher Coverage at Affordable Premiums
A term insurance plan offers a high sum assured at a relatively low premium amount. You can get 1 crore coverage for premiums starting at just Rs 21 per day.
Helps to Cover Your Liabilities
You might have taken out a loan to create assets like a home, car, or any other valuables. A term insurance plan protects your loved ones from debt burden in your absence.
To Prepare for Uncertain Times
The major purpose of a term insurance policy is to provide financial help to your loved ones in case something unfortunate happens to you.
To Secure the Financial Future of Your Loved Ones
You should buy a term insurance plan to secure the financial future of your family. Your loved ones can use the amount to cover their expenses.
Provides Early Peace of Mind
A term life insurance plan provides early peace of mind as it ensures that your dear ones are financially stable even in your absence.
Benefits of Buying a Best Term Insurance Plan
There are various benefits of term life insurance. Let’s understand these benefits in detail:
Financial Security for the Family or Loved Ones
As the earning member of the family, buying term insurance helps ensure your loved ones stay financially secure even in your absence.
Return of Premiums
A term plan with a return of premium pays back the premium paid towards the plan to the policyholder at the end of the tenure if they outlive the policy term.
Joint Life Option
The joint-life option covers both spouses under one policy and provides a lump sum payout if one partner passes away.
Tax Benefits
You can avail of tax benefits up to ₹1.5 lakhs annually for the premiums paid towards a term plan under Section 80C and Section 10 (10D) of the Income Tax Act, 1961.
Additional Riders to Choose From
Add-on riders enhance your base cover by offering extra financial protection against events like accidental death, disability, or critical illness.
Smart Exit Option
This option allows you to surrender the policy during a specified period and receive the premiums paid back without any additional payout.
Premium Breaks
The premium break option allows you to pause premium payments for a limited period while keeping the policy active and coverage intact.
Voluntary Sum Assured Top-up
A voluntary sum assured top-up lets you increase your life cover during the policy term without repeated paperwork.
When Should I Buy Term Life Insurance?
The premiums of your term life insurance get fixed for a certain policy tenure. Buying term insurance early can help you save a lot of money in premiums. The earlier you buy, the lower your premiums. To have better clarity on how premiums increase with your age, let’s take a look at the premium illustration table.
| Age of the Policyholder | Monthly Premiums |
| 20 years | Rs 808 |
| 30 years | Rs 1,265 |
| 40 years | Rs 2,763 |
| 50 years | Rs 7,784 |
| 60 years | Rs 18,360 |
The above premiums are for Tata AIA Sampoorna Raksha Promise Plan for a sum assured of Rs 1 crore and a policy tenure of 30 years. From the above illustration table, you can see how premiums for your best term life insurance plan increase with age.
Factors to Consider When Choosing the Best Term Insurance Plan
You should consider certain factors when choosing the best term insurance plan. Let’s understand these factors in detail:
CSR (Claim Settlement Ratio) of the Insurance Company
The claim settlement ratio of an insurer indicates the number of claims settled by them out of the received claims. A high claim settlement ratio is a positive indicator of a good insurance company.
Solvency Ratio of the Insurance Company
The solvency ratio of an insurer indicates the ability of an insurance company to settle the received claims. Every insurance company must maintain a solvency ratio of at least 1.5 as per the IRDAI.
Market Reputation of the Insurer
Before buying a term plan from an insurer, you should check their trustworthiness and market reputation (number of years in the insurance business, number of branches, customer support quality, etc.) to make the right decision.
Additional Riders Offered with the Plan
You should check whether the plan you are opting for offers additional riders to enhance the coverage of your plan as per your requirements.
Customization Options Available with the Plan
A good term plan can be customized as per the requirements of the policyholder in terms of policy tenure, premium payment tenure, sum assured, etc.
Customer Reviews and Testimonials
You must check the customer reviews and testimonials of the plan you are thinking of buying. It gives you a brief idea of whether that term plan is right for you or not.
Which Factors Affect Your Term Insurance Premiums?
Various factors affect your term insurance premiums. Let’s understand these factors in detail:
Age
The age of the policyholder is directly proportional to their premium amount. The higher the age, the more will be the premium amount. Buying a term plan at an early stage of life means you’ll have to pay less in premiums (refer to the premium illustration table under “When Should I Buy Term Life Insurance?”).
Health
The health of an individual directly impacts their premium amount. A healthy individual is likely to pay less in premiums compared to an individual who is suffering from any pre-existing diseases.
Lifestyle Habits
Smoking, drinking, or risky activities can lead to expensive premiums due to health risks. An individual involved in such activities is likely to pay higher premiums.
Occupation
Your term insurance premiums also depend on the occupation you have. If you are involved in a hazardous occupation, your premiums will be high.
Policy Duration
Your premiums also depend on the policy duration you choose. Longer duration policies have higher premiums compared to policies with shorter durations.
Gender
The premium amount also depends on your gender. Generally, insurers offer special premium rates for women.
How to Buy the Best Term Insurance Plan in India?
To buy the best term insurance plan for yourself, you can either do it online through their website or PolicyX.com, or offline by visiting their nearest branch office.
Follow the steps below to buy the best term insurance plan hassle-free on PolicyX.com:
Step 1
Open your browser and visit the PolicyX website.
Step 2
Click on the ‘Buy Now Option’ at the top of the page.
Step 3
Select the ‘Term Plans’ option and fill out basic details like name, DOB, and phone number.
Step 4
Enter the required details and click on ’Continue’.
Step 5
Compare the policy details of the different term plans available.
Step 6
Select the plan that best suits your requirements.
Step 7
Proceed to pay via net banking, debit, or credit card.
Step 8
Receive the policy documents on your registered email ID.
Why Buy Term Life Insurance Online?
Here are the reasons why you should buy the best term insurance plan in India online:
Easy Comparison
You can compare various term insurance plans online and choose the best term plan based on factors including premiums, sum assured, policy tenure, and more.
Easy Premium Calculation
When buying a term insurance plan online, you can easily calculate your premium amount using a term insurance premium calculator. This tool calculates your premiums within a few seconds of providing the required details.
Hassle-free Process
Buying a term life insurance plan online is a simple and hassle-free process. You can easily submit the required documents and get the best term plan for you.
Eliminate Middlemen Charges
By purchasing term life insurance online, you can avoid the charges of middlemen or insurance brokers. Generally, insurance brokers charge a commission when you purchase an insurance plan through them.
Choice of Premium Payment Mode
You can choose a premium payment mode of your choice, like monthly, quarterly, half-yearly, or yearly, while buying a term insurance policy online.
Option to Choose Additional Riders
You can opt for additional riders of your choice with your term plan, like accidental death benefit rider, waiver of premium rider, critical illness rider, etc.
Why Buy the Best Term Plan From PolicyX?
Here, we’ve listed a few reasons why you should buy the best term life insurance plan in India from PolicyX.com.
- Dedicated claim support and guidance to family for free.
- The best prices from top life insurance companies in India.
- Get an extra discount on buying term plans online.
- Online free helpdesk.
- No Spam, No Gimmicks, and Only Expert Insurance Advice.
- Free-of-cost policy comparison.
- 100% recorded calls to omit misselling.
Most importantly, we understand and respect the value of human life and the role of insurance in it.
Who Should Buy Term Insurance?
Everyone should consider buying a term insurance plan, but the following individuals must buy a term insurance policy:
Parents
Parents are the ones who provide financial and emotional support to their children until they mature. They must invest in a term insurance policy to ensure their children are financially protected in case of any mishap occurs.
Young Professionals
A young professional who has just started earning must buy a term plan to make sure their loved ones are protected even in their absence. The premiums are very affordable if bought early.
Newly Married
A newly married couple must invest in a term insurance plan to make sure that one partner does not suffer financially in case of any mishap with the other.
Women
The participation of women in every field, including managing finances and supporting families, is increasing. Buying a term plan is necessary for women to ensure their family is financially protected even in their absence.
Senior Citizens
Even though the premiums for senior citizens are higher, investing in a term plan is ideal for them. A term plan ensures that your spouse can live a financially stable life.
Self-employed
Investing in a term plan for self-employed individuals is worthwhile, as it ensures their family is financially stable even if something happens to them.
Taxpayers
A taxpayer must invest in a term insurance policy as they can avail of tax deductions up to Rs 1.5 lakhs on the premiums paid under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
Common Mistakes to Avoid When Buying a Term Insurance Plan
Here are some common mistakes that you must avoid when buying a term life insurance plan:
Delaying Premium Payment
You should pay your term insurance premiums on time to avoid penalties and late charges. Moreover, you can set up auto-debit from your bank account to avoid missing any premium payment.
Opting for Inadequate Sum Assured
When buying a term insurance plan, you should choose the right sum assured based on your financial goals and requirements. The sum assured varies for every individual based on their specific needs.
Choosing Short Policy Tenure
You must avoid choosing a short policy term to save on premiums. You must choose an adequate policy tenure based on your future financial goals.
Adding Unnecessary Riders
There are many rider options available for you to choose from. But you must choose only the necessary riders, as each rider costs an additional premium. If you add unnecessary riders, your premium amount will increase.
Hiding Information from the Insurer
At the time of buying the term plan, you must disclose all required information. Hiding or sharing any misleading information may result in claim rejection in the future.
Term Insurance Terminologies
Insurance Company/ Insurer
The insurer or the insurance company is the entity that undertakes risk and promises to pay for losses that occur during the policy tenure in exchange for premiums paid by the policyholder.
Insured
The person or entity that is covered against risk is called the insured.
Policyholder
The person who buys an insurance policy is called a policyholder. A policyholder can or cannot be the insured.
Policy Tenure/ Policy Term
It is the number of years for which the policy remains active if premiums are paid on time.
Sum Assured/ Coverage
The fixed amount paid to the beneficiary in case of the policyholder’s unfortunate death during the policy tenure.
Beneficiary/ Nominee
A person who is entitled to benefits or sum assured in case of the policyholder’s unfortunate death.
Premium Payment Tenure
This is the number of years for which the policyholder has to pay the premiums.
Maturity Date
It is the date at which the policy ends and the benefits are paid to the insured.
Death Benefits
It is the amount paid to the nominee in case of the policyholder’s unfortunate death during the policy tenure.
Maturity Benefits
It is the amount paid at the time of policy maturity.
Term Insurance Premium Calculator
This is a free online tool that helps you calculate the premiums for your term life insurance plan.
NRI Term Insurance
It is a term insurance plan designed for people living outside India. It offers the same benefits as a traditional term plan. You can buy the best term insurance plan in India for NRI either from the insurer’s website or PolicyX.com.
Senior Citizens Term Insurance
This is a term insurance policy designed for individuals above 60 years of age. It helps you protect your loved ones financially in case of your unfortunate death during the policy tenure. There are various best term insurance plans for senior citizens available online.
Conclusion: Best Term Insurance Plans in India
Choosing the best term insurance plan can be a hectic and time-consuming process. To ease your search, we have provided a list of the best term plans in India in 2026 based on several parameters, including CSR (Claim Settlement Ratio), solvency ratio, market reputation of the insurer, customer testimonials and reviews, experience in the insurance industry, etc.
If you are still confused about which term plan is best for you, you can contact us at PolicyX.com. One of our insurance experts will contact you shortly to understand your requirements and help you choose a plan that best fits your needs. We offer No Spam, No Gimmicks, and Only Expert Insurance Advice.
Book a free call with a PolicyX expert
5-min consultation · No spam · No pushy sales
- Step 1 of 3
- Step 2 of 3
- Step 3 of 3
Term Insurance Companies
Compare term insurance policies with other top insurers in India.