Term Life Insurance In India

Term life insurance is one of the easiest and most effective ways of securing your family’s financial future in the UK. A good term life insurance plan will provide your family with a lump sum payment in case something happens to you during the term of the insurance. Whether you refer to it as life insurance term life or life insurance term insurance, the idea is to have a smooth and hassle-free insurance plan. Many people often compare term insurance and life insurance to get the best of both worlds. Term and life insurance in the UK have made it easier to have a secure financial future.

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What is Term Insurance?

In the UK, term life insurance is a simple way to protect your family's financial future. A term life policy doesn't help you save money; it only protects you. You choose how much coverage you want and how long the policy will last. If the life assured suffers an untimely death during this time, the insurer pays the chosen amount to the beneficiaries. This payout can help your family with daily costs, mortgage payments, school fees, and long term commitments.

Insurance advisors suggest comparing both term and life insurance before making a choice. However, life insurance term life plans are still popular because they are simple and focus on safety. Life insurance term insurance gives you good coverage at reasonable rates, which is why term and life insurance are important parts of financial planning.

How Term Life Insurance Works?

Let’s understand this with the help of an example.

Ranjan is a 30-year-old healthy, non-smoking male, with a salaried income of Rs. 25 Lakhs per annum, can buy a term cover of Rupees 1 Crore for his family for the next 30 years. And when Ranjan decides to buy term plan, he must pay only Rs. 870 per month. With this 1 crore cover, he can ensure that their family will be able to maintain their current lifestyle without any hassle in case of his untimely demise.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

What Are The Term Life Insurance Plans In India 2026?

The insurance companies in India offer the following term insurance plans.

Name of the Insurer	Term Insurance for NRI	Entry Age	Sum Assured
Private Insurer
HDFC Life Insurance	HDFC Life Sanchay Legacy	18 -- 65 years	10,000 - No Limit ( > 65 years: Rs. 50,000)
ICICI Prudential Life Insurance	ICICI Pru iProtect Smart	18 – 65 years	50 Lacs – 20 Crores
Tata AIA Life Insurance	Tata AIA Sampoorna Raksha Promise	18 – 65 years	25 Lacs – No limit
SBI Life Insurance	SBI Life eShield Next	18 – 60 years	50 Lacs – No limit
Bajaj Life Insurance	Bajaj Life eTouch II	18 – 65 years	50 Lacs – No limit
Axis Max Life Insurance	Axis Max Life Smart Term Plan Plus	18 – 60 years	25 Lacs – 20 Crores
Go Digit Life Insurance	Digit Glow Term Insurance	18 – 65 years	25 Lacs – 1 Crore
Aditya Birla Sun Life Insurance	ABSLI DigiShield	18 - 65 years	30 Lacs – No limit
India First Life Insurance	India first Life Plan	18 - 60 years	1 Lac - 50 Crores
Kotak Mahindra Life Insurance	Kotak e-Term Insurance	18 – 65 years	51 Lacs - No limit
Canara HSBC Life Insurance	Canara HSBC Young Term Plan - Life Secure	18 – 45 years	25 Lacs – No limit
Shriram Life Insurance	Shriram Life Online Term Plan	18 - 55 years	25 Lacs - 10 Crores
PNB Met Life Insurance	PNB Mera Term Plan Plus	18 - 60 years	25 Lacs - No limit
Star Union Dai-ichi Life Insurance	SUD Life e-Lifeline	18 - 60 years	25 Lacs - 1 Crore
Pramerica Life Insurance	Pramerica Life Saral Jeevan Bima	18 - 65 years	5 Lacs - 25 Lacs
Aviva Life Insurance	Signature 3D Term Plan - Platinum	18 - 65 years	30 Lacs - 5 Crores
Future Generali Life Insurance	Future Generali Care Plus Plan	18 - 60 years	10 Lacs - No limit
Reliance Nippon Life Insurance	Reliance Nippon Life Super Suraksha Plus	18 - 60 years	2 Crore - No limit
Ageas Federal Life Insurance	Termsurance Life Protection Insurance Plan	18 - 60 years	5 Lacs - No limit
Bandhan Life Insurance	Bandhan Life iTerm Prime	18 – 65 years	-
Bharti Axa Life Insurance	Bharti AXA Flexi Term Pro	18 - 65 years	25 Lacs - No limit
Edelweiss Life Insurance	Edelweiss Life Zindagi Protect Plus	18 – 65 years	50 Lacs – No limit
Public Insurer
Life Insurance Corporation of India	LIC Jeevan Amar	18 - 65 years	25 Lacs - No Limit

*Disclaimer: ^*The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

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₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%^#

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⁺Standard T&C Applied

Why Should You Buy Term Insurance?

Here are the reasons why you should buy term plan in India:

Financial Security: Term insurance in India offers your family financial stability by providing them with a benefit payout in the unfortunate event of your demise. This amount helps them take care of their lifestyle, cover expenses like rent, child's fees, and handle any medical emergencies.
Flexible Policy Issuance: Buying term insurance in India is easy due to simplified documentation and procedures. You can even purchase it online in a few minutes, from the comfort of your home, with the help of Policybazaar.
Easy to Claim: Your grieving family can easily visit the nearest insurer branch or office in their city to begin their claim settlement process.
Larger Life Cover: You can purchase term insurance in India to provide your family with a large life cover, securing their financial future.
Debts and Loans: The life cover payout from term insurance helps in paying off remaining loans such as home or car loans, addressing the family's financial obligations. Therefore, choosing a term plan with an adequate life cover is crucial.
Affordable Premium Rates: Indian insurers offer much affordable premiums in comparison to international plans. Moreover, level term life insurance rates for NRIs, Foreign Nationals, PIOs, and OCIs are much more affordable in India compared to international premiums.
Extra Discount: You can avail an additional 5% discount by opting for yearly premium payments.
Special Exit Option: Term insurance plans in India provide a special exit option, allowing you to conclude the plan at a specific time and receive a full refund of all paid premiums.

Why Should You Consider Buying Term Insurance From India?

You should buy term insurance from Indian insurance companies because of the reasons mentioned below:

Bigger Pool of Insurance Companies: In India, Indian expats have access to a diverse range of insurers offering term life insurance plans, providing you with the opportunity to compare and choose the plan that aligns with their needs. The advantages of opting for term plans from an Indian insurer include flexible premium payment options, the freedom to select the policy term, affordability in premiums, substantial coverage amounts, and diverse payout options.
Claim Settlement Ratio (CSR): The CSR (Claim Settlement Ratio) indicates the percentage of claims settled by an insurance company out of the total claims filed in a year. The IRDAI includes CSR values for all insurers in its annual report, aiding customers in making informed decisions. It's advisable to select an insurer with a consistently high CSR, preferably exceeding 95%, when purchasing a term plan.
Video or Tele Medical: Buying term insurance from Indian insurers is now more convenient with the option of video/telemedical tests. You can complete your medicals through video or telephone sessions, simplifying the process of purchasing their preferred term plan.

How to buy Term Insurance for NRI from Indian Insurers with Policybazaar?

Now, you can easily buy term insurance from India in an online mode, from the comfort of your home, by following these steps:

Step 1: Visit Policybazaar's website and choose 'Term Insurance.'
Step 2: Provide your name, email, gender, and contact details.
Step 3: Share details about your job, education, income, and lifestyle habits.
Step 4: Pick the term plan and move to payment.
Step 5: Use your preferred payment method to finish the process.

What Are The Documents Required to Buy Term Insurance from India?

Here is a list of documents required to purchase term insurance from India:

Front and back side of the Passport
Proof of Employment ID
Last entry-exit stamp
Copy of Valid Visa
Foreign Address Proof
Photo of the Policyholder
Last 3 Month salary slips & Last 6 months' bank statements

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What is Term Life Insurance

FAQs

Q. Who can buy term insurance from India?

These people can buy term insurance from India – Indian citizens, NRIs, Foreign Nationals, Persons of Indian Origin (PIO), and Overseas Citizenship of India (OCI) card holders.
Q. Why consider buying term insurance from Indian insurers?

Indian insurers provide a bigger pool of options, various benefits like flexible premium payment, policy term, and large sum assured. Additionally, they have a high Claim Settlement Ratio (CSR), offer GST waivers, and allow video or tele medical options.
Q. Which life insurance is in the UK?

There are many life insurance plans available for NRIs. Easily compare all life insurance plans on Policybazaar and buy the policy that fits your needs.
Q. Can Indian citizens buy life insurance in the UK?

Yes, Indian citizens buy life insurance in the UK from Policybazaar. They can easily compare the insurers and choose the ideal plan.

Different types of Plans

Term Insurance

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Life Insurance

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List of Term Insurance Companies

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TROP

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Term Insurance For Senior Citizen

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Term Insurance For Spouse

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Term Insurance For Family

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Term Insurance For NRI

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List of Term Insurance Plan

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Life Insurance Corporation of India

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What is Term Insurance?

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Term Insurance Calculator

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1 Crore Term Insurance

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2 Crore Term Insurance

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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