Best Term Insurance Plans in India 2024
Compare the top term insurance plans from leading insurers. Analyze premiums, claim settlement ratios, features, and find the perfect plan for your family's protection.
Top Term Insurance Plans Comparison
Premium shown is for ₹1 crore coverage, 30-year-old non-smoker, 30-year policy term
| Insurer | Plan Name | Claim Ratio | Monthly Premium | Rating | Key Features | |
|---|---|---|---|---|---|---|
| HDFC Life | Click 2 Protect Super | 99.35% | ₹470 | 4.8 | Instant policy issuanceMultiple payout optionsCritical illness rider | View |
| ICICI Prudential | iProtect Smart | 98.58% | ₹485 | 4.7 | Wellness benefitsTerminal illness coverAccidental death benefit | View |
| Max Life | Smart Secure Plus | 99.34% | ₹492 | 4.8 | 5% additional sum assuredPremium break optionHealth check-ups | View |
| Tata AIA | Sampoorna Raksha Supreme | 99.13% | ₹478 | 4.7 | Lumpsum + monthly incomeWaiver of premiumTerminal illness benefit | View |
| SBI Life | eShield Next | 97.88% | ₹465 | 4.6 | Auto claim settlementIncreasing cover optionSpecial rates for women | View |
| Bajaj Allianz | Smart Secure Goal | 99.02% | ₹499 | 4.6 | Return of premium optionCritical illness ridersFlexi claims | View |
How to Compare Term Insurance Plans
This is the percentage of claims settled by an insurer out of total claims received. A ratio above 95% indicates high reliability. Always prefer insurers with consistent high claim ratios over multiple years.
Look for trends over 3-5 years, not just one year
Lower premium doesn't always mean better value. Compare what's included in the base plan. Some insurers include riders in base premium while others charge extra. Always compare for identical coverage.
Get quotes for the same coverage amount and term
Look for features like increasing sum assured, premium waiver on disability, terminal illness benefit, and flexible payout options. These features can significantly enhance your coverage.
Choose features based on your specific needs
Critical illness, accidental death, and waiver of premium riders add valuable protection. Check the illnesses covered, claim limits, and premium costs for each rider.
Critical illness rider is highly recommended
Check online reviews, IRDAI complaint ratios, and ease of claim process. Good customer service is crucial during claim settlement when your family needs support the most.
Test their helpline before buying
Check the insurer's solvency ratio (should be above 1.5) and credit rating from agencies like ICRA, CRISIL. This indicates the insurer's ability to honor claims.
Solvency ratio above 1.8 is excellent
Featured Plans for Different Needs
- 99.35% claim settlement ratio
- Instant online issuance
- Multiple payout options
- Comprehensive rider options
- Competitive premium rates
- Auto claim settlement
- Special rates for women
- Increasing cover option
- 5% additional sum assured
- Premium break option
- Free health check-ups
- Highest claim ratio (99.34%)
Frequently Asked Questions
Learn More About Term Insurance
Compare Plans Side by Side
Use our comparison tool to analyze multiple plans, check premiums, and find the best term insurance for your needs.