Best Term Insurance Plans

Term insurance is one of the most critical financial decisions you can make. With increasing liabilities, rising living expenses, and long-term family responsibilities, a reliable term plan ensures your dependents stay financially secure if your income stops. Today’s term insurance plans are a lot more than just a basic life cover. They offer a high claim settlement ratio, flexible premium options, extended cover up to 99 or 100 years, and add-ons like income benefits and critical illness.

This page presents the 10 best term insurance plans in India. It will help you compare policies on coverage, eligibility, and insurer credibility so you can buy the plan that aligns with your protection needs and long-term financial goals.

List of 10 Best Term Insurance Plans In India

Check out the 10 best policies in India and choose the one that best suits your requirements:

Best Term Life Insurance Plans in India: Overview

Choosing the best term life insurance plans is essential for successful financial planning. As a policyholder, you must comprehend the key features and benefits of the term insurance plan you wish to buy. However, the features, benefits, inclusions, and exclusions may vary from insurer to insurer.

1. ICICI Prudential iProtect Smart Term Plus Plan

   ICICI Prudential iProtect Smart is among India’s best term life insurance plans. Since its launch, it has been one of the top-selling online term insurance plans. The plan has four variants, allowing policyholders to select the protection level by choosing one benefit option.

   Plan Options: Life, Life Plus, Life Plus Health, All-in-One

   Key Features of ICICI Prudential iProtect Smart Term Plus Plan

   • Offers additional discounts to non-smokers and women policyholders. It also allows you to buy insurance online under the MWP Act.
   • Policyholders can pay the entire premiums at once, for a limited period, or throughout the policy tenure.
   • Affordable premiums.
   • Easy issuance with minimum document requirements.

   Benefits of Buying ICICI Prudential iProtect Smart Term Plan

   • The plan provides coverage against accidental death, terminal illness, and disability.
   • The plan comes with an optional Accidental Death Benefit and Accelerated Critical Illness Benefit rider.
   • Policyholders can pay the entire premiums at once, for a limited period, or throughout the policy tenure.
   • The insurer allows policyholders to select the death benefits payout options.

2. HDFC Life Click 2 Protect Super

   HDFC Life Click 2 Protect Super by HDFC Life is one of the popular plans offering comprehensive protection at a low premium based on policyholders’ evolving needs. It is a customizable plan with add-ons for protection, income support, and family security.

   Key Features of HDFC Life Click 2 Protect Super

   • You can increase the death benefit to around 200 percent.
   • Option to decrease your premiums after 5 years.
   • Waiver of Premium on diagnosis of Critical Illness (through the WOP on CI option).

   Benefits of HDFC Life Click 2 Protect Super

   • You can pick coverage pattern, riders, payout type, and policy term.
   • Includes spouse, child, and parents’ support options.
   • Riders cover 60 critical illnesses, disability income, and hospitalization events.

3. PNB Metlife Mera Term Plan Plus

   Mera Term Plan Plus by PNB MetLife is a pure family protection plan that provides comprehensive protection with additional benefits. There are three different protection options available under the plan.

   Plan Options: Life, Life Plus, Life Plus Health. Key Features of PNB Metlife Mera Term Plan Plus

   • Option to select the level of protection against death, disability, and disease.
   • Policyholders can pay the premiums for a limited period, throughout the policy tenure, or the entire premium in a single payment based on their needs.
   • The plan offers you the flexibility to choose coverage terms such as staying protected for the whole of your life or up to 99 years.

   Benefits of PNB Metlife Mera Term Plan Plus

   • You can customize your base plan with a choice of add-on riders such as Return of Premiums, Waiver of Premiums, Accelerated Critical Illness Benefit, Terminal Illness Benefit, etc.
   • Coverage for spouse under the same plan.
   • Child education benefit.
   • Increase your life cover with coverage enhancement options.
   • The plan allows policyholders to select the death benefits payout options.
   • Option to get back premiums on survival.
   • Under prevailing tax laws, tax benefits are applicable on premiums paid and death benefits.

4. TATA AIA Sampoorna Raksha Supreme Term Plan

   TATA AIA Sampoorna Raksha Supreme by Tata AIA Life Insurance is a protection plan designed to cater to the needs of policyholders. Four different protection options are available under the plan.

   Plan Options: Life, Life Plus, Life Income, Credit Protect

   Key Features of TATA AIA Sampoorna Raksha Supreme Term Plan

   • Provides cover for up to 100 years.
   • Has an inbuilt acceleration of 50% of the effective sum assured on diagnosis of a terminal illness, with waiver of all future premiums.
   • Allows the policyholder to cover their spouse.
   • Flexipay benefit.
   • Premium holiday.

   Benefits of TATA AIA Sampoorna Raksha Supreme Term Plan

   • Payor accelerator benefit.
   • Return of Premium option.
   • Instant death benefit of ₹3 Lacs within one working day of claim intimation.
   • Allows increase of sum assured at different life stages: Marriage (50%), Birth/Adoption of 1st child (25%), Birth/Adoption of 2nd child (25%), or Home Loan disbursal (100% of loan amount).
   • Top-up Sum Assured (SA) at 5% to 20% at each policy anniversary by paying additional premiums.
   • Health management services.
   • 5% lower premium for females, discounts for salaried customers.

5. Bajaj Allianz Life e-Touch II Term Plan

   Bajaj Allianz Life e-Touch II Term Plan is among the best term insurance plans in India. The plan comes with a 15-day free look period and three levels of protection options.

   Plan Options: Life Shield, Life Shield Plus, Life Shield ROP

   Key Features of Bajaj Allianz Life e-Touch II Term Plan

   • The plan offers coverage against accidental death, terminal illness, and disability.
   • The plan allows policyholders to pay a premium during the policy tenure, for a limited period, or until they retire.
   • With the Return of Premium benefit, you can get back up to 100% of your premiums paid throughout the policy tenure, minus service charges, as a maturity benefit.

   Benefits of Bajaj Allianz Life e-Touch II Term Plan

   • Under the Accidental Death Benefit rider, your beneficiaries get an extra payout in case of death due to an accident.
   • The plan comes with an Early Exit option, where once your need for cover is over, you can surrender your policy and get back your paid premiums as an Early Exit Value.
   • Premium Holiday allows you to skip your premiums for 1, 2, or 3 years throughout the premium payment term.
   • Auto Cover Continuance benefit.

6. Max Life Smart Secure Plus Plan

   Max Life Smart Secure Plus Plan by Max Life is a reliable term plan with a flexible structure. The plan ensures that it caters to policyholders’ financial needs in the event of emergencies. It is a non-linked term insurance plan that offers several impressive benefits. Key Features of Max Life Smart Secure Plus Plan

   • It has six plan variants. You can pick from Regular, Smart Cover, Whole Life, ROP, Early ROP Plus, and Income Protection.
   • It pays a monthly income for at least 120 months.
   • After 30 years, you can receive and withdraw all premiums. This is not allowed in the last 4 years of the policy term.

   Benefits of Max Life Smart Secure Plus Plan

   • This plan provides strong death protection.
   • ROP plans pay back total premiums on survival. Early ROP and Whole Life options return 50 percent earlier, and the rest later.
   • You can add riders for critical illness, disability, accidental death, and waiver of premium.
   • Doctor consultations, second opinions, medicine discounts, and annual health check rewards.

7. Canara HSBC iSelect Smart 360 Term Plan

   iSelect Smart360 term plan by Canara HSBC Life Insurance is a special protection plan designed to fulfill the needs of policyholders with additional benefits and wide coverage options. It offers policyholders the choice of death benefits payout options as per their needs. The plan comes with three variants.

   Plan options: Life Secure, Life Secure with Income, Life Secure with Return of Premium

   Key Features of Canara HSBC iSelect Smart 360 Term Plan

   • The plan offers life cover until the age of 99.
   • With the Return of Total Premiums option, you can get back all your premiums paid if you survive the policy term and no claim has been made.
   • Flexibility to avail steady income benefits after your retirement at age 60.

   Benefits of Canara HSBC iSelect Smart 360 Term Plan

   • Waiver of premium on diagnosis of critical illness and total and permanent disability.
   • The plan includes a child care benefit option with an additional Sum Assured until the child reaches 21.
   • Additional lump sum payment in case of Critical Illness, Accidental Total & Permanent Disability, or Accidental Death, if opted.

8. Kotak e-Term Plan

   Kotak e-Term Plan by Kotak Life offers special life coverage options that provide a high level of protection at affordable premiums. The term insurance plan has three variants.

   Plan options: Life Option, Life Plus Option, Life Secure Option

   Key Features of Kotak e-Term Plan

   • The plan offers the option to choose your own desired payout options.
   • The plan provides comprehensive life cover at affordable premiums.
   • Waiver of premium on diagnosis of critical illness and total and permanent disability.

   Benefits of Kotak e-Term Plan

   • With the life stage option, you can increase your life coverage at specific events.
   • With an optional in-built cover, you can enhance your protection against accidental death, critical illness, and total permanent disability.
   • With the Special Exit Value option, policyholders get the flexibility of a special exit value at age 60.
   • Low-cost insurance.

9. Edelweiss Tokio Zindagi Protect Term Plan

   Edelweiss Tokio Zindagi Protect Plan is among India’s best term insurance plans. The insurer allows you to customize your plan based on your requirements by selecting an adequate premium paying term and death benefit payout mode.

   Key Features of Edelweiss Tokio Zindagi Protect Term Plan

   • The plan offers life cover until the age of 100.
   • Flexibility to select your desired premium payment option between regular and limited pay options.
   • The plan includes a childcare benefit option. By paying additional premiums, you can avail of life cover for your child till they turn 25 years old.

   Benefits of Edelweiss Tokio Zindagi Protect Term Plan

   • With the Premium Break benefit, you can pay an additional premium that allows you to skip some premiums based on the payment term.
   • With the Better Half benefit, you can avail life cover for your spouse by paying additional premiums.
   • With the Special Exit Value option, policyholders get the flexibility to receive all their premiums paid back at a specific point.

10. Bandhan Life iTerm Prime Term Plan

    Bandhan Life iTerm Prime Plan is a top-notch term insurance plan. It is ideal for those who travel regularly due to work and are prone to accidents. The plan can be applied online without the hassle of paperwork. Under the plan, the insurer offers a special 10% discount on first-year premiums.

    Key Features of Bandhan Life iTerm Prime Term Plan

    • Beneficiaries receive the death benefit as a lump sum payout on the policyholder’s demise.
    • The plan offers high life cover at affordable premiums through the earning years.
    • With optional inbuilt covers, you can enhance your life cover.

    Benefits of Bandhan Life iTerm Prime Term Plan

    • Under the Special Exit Value option, you can get all your premiums back if you no longer need coverage.
    • Flexibility to choose your own desired premium payment term.

Factors to Keep In Mind When Choosing a Term Insurance Plan

Here is a checklist that you must follow when choosing a term insurance plan:

How to Choose the Best Term Plans in India?

To buy the best term plan in India, you must visit PolicyX.com and follow these steps:

• Visit the PolicyX.com website.
• Fill out details like Name, Date of Birth, and Phone Number, then click 'Continue'.
• Submit details like annual income, educational qualification, and smoking habits.
• Compare the available plans.
• Select a plan that best suits your requirements.
• Proceed to pay via NetBanking, debit card, or credit card.
• Receive the policy details on your registered email ID.

Why Choose PolicyX.com?

Here are the reasons for buying a term insurance plan from PolicyX.com:

• No Spam, Only Expert Advice: We offer no spam, no gimmicks, and only expert insurance advice so that you always get the best.
• Data Security and Privacy: Your data stays safe and confidential. We protect your credentials so you can buy a policy with complete peace of mind.

Conclusion

Term life insurance is a top choice for prospective policy buyers. While it has become a basic necessity, choosing the best term insurance plan still requires thorough research. We have curated a list of the top 10 term insurance plans in India from leading providers. Before making any decision, understand the key features and benefits of each plan to select the perfect term insurance for yourself.

If you want expert guidance regarding term insurance, you can contact us at PolicyX.com or call us at 1800-420-0269. We offer no spam, no gimmicks, and only expert insurance guidance.