Term insurance is a type of life insurance that offers a large life cover at affordable premiums and provides the death benefit to your family in the event of your untimely demise. This feature makes term life insurance an important aspect of everyone’s financial portfolio. You, too, can buy a term insurance plan from the comfort of your home if you are an NRI (Non-resident Indian), PIO (Person of Indian Origin), or Foreign National. Term insurance plans in India can be purchased hassle-free through tele/video medicals.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
Term life policy in the USA works by providing coverage to the family of the policyholder in the event of his/her untimely demise during the policy term. The insurance company provides the cover in exchange for the regularly paid premiums. The term life insurance quotes for these plans are much lower compared to the other types of life insurance plans, and depend on various factors like age, gender, health, income, smoking status, hobbies, occupation, and family history.
During the policy term, in case the policyholder suffers an untimely death, the life insurance company will payout the death benefit to your family. Your family can then use the benefit amount, to take care of the remaining loans and debts, pay for the child’s education, and pay off the medical bills or funeral costs.
However, it is important to note that there will be no payout in case of policy lapse before the death, or if the policyholder outlives the policy term.
Term Plans
Here are the best life insurance providers available in the USA:
| Insurer | Key Benefits | Ideal For |
| Ethos Life Insurance | - No medical exam for many applicants - 100% online, quick approval - Transparent pricing |
Digital-first customers looking for fast, hassle-free coverage |
| Globe Life Insurance | - No medical exam - $1 starting term life insurance costs - Quick approval process |
People wanting basic, low-entry coverage with no exam |
| State Farm Life Insurance | - Top-rated financial strength (A++) - Personalized agent support - Multi-policy discounts |
Traditional buyers who prefer guidance from a local agent |
| Pacific Life Insurance | - Competitive pricing for large coverage - Multiple riders available - Flexible term options |
Families or professionals wanting customizable long-term protection |
| MetLife Insurance | - Employer-based group plans - Automatic payroll deductions - Strong brand & claims support |
Employees looking for affordable group life coverage |
You should buy term life insurance in the USA for the following reasons:
Death Benefits: Term insurance in India offers death benefits to the nominee of the policy in case of the policyholder’s unforeseen death during the policy term. This ensures your family’s financial security in the event of your absence.
Pay off Loans/Debts: The large sum assured can help your family pay off any remaining loans and debts like business, student loans or credit card debts that may fall on the shoulders of your family in your absence.
Flexible Coverage: Term insurance plans in the USA offer flexibility in terms of coverage options, wherein you can choose the ideal term insurance coverage amount that would help your family.
Limited Policy Term: You can choose the right policy term for your term life insurance policy based on the duration for which you need coverage. For example, if you only need cover for the next 10 years, until your kids start earning, you can buy a term insurance with a 10-year policy term.
Peace of Mind: A term life policy provides peace of mind by offering financial aid to your family in the event of your unfortunate demise and allows you to lead a stress-free life.
Secure Your Family Future Today
₹1 CRORE
Term Plan Starting @
Get an online discount of upto 15%#
Compare 40+ plans from 15 Insurers
You should consider the family income of the following individuals before buying term and life insurance:
Parents with young children
Homeowners with outstanding mortgages
Business owners looking to cover liabilities
Breadwinners who want income replacement
Young professionals locking in low term life insurance costs
Here is how you can insure a life in the USA with the different types of term life policy available:
Most popular type of term life insurance in the USA.
Premium and death benefit remain fixed throughout the term (10, 20, 30 years, etc.).
Ideal for families or individuals who want predictable, long-term financial protection.
Easy to budget, no surprise term life insurance cost hikes or benefit changes.
Death benefit reduces gradually over time, typically in line with a mortgage or loan.
Term life insurance quotes are usually fixed, but the payout decreases.
Best suited for covering home loans or other declining financial obligations.
Affordable, but not ideal for long-term or growing family needs.
Policy can be renewed at the end of each term without a new medical exam.
Premiums increase each time you renew, as you get older.
Good short-term solution for people anticipating a change in health or finances.
Offers flexibility, but becomes expensive over time.
Allows you to convert your term policy into a whole life insurance later on.
No new medical underwriting required at the time of conversion.
Ideal for those unsure of their future needs or worried about future insurability.
Offers both flexibility and future security.
Refunds all premiums if you outlive the policy term.
More expensive than traditional term life insurance.
Combines protection with a savings element—ideal for conservative planners.
No loss of money if the policy goes unused.
Renewed each year, with premiums increasing annually based on your age.
No medical exam required at each renewal.
Initially, really affordable, but it gets expensive with time.
Best for short-term needs or temporary coverage gaps.
Offered through employers as part of workplace benefits.
Usually free or low-cost, but coverage is limited (often 1–2x salary).
No medical exams required; easy enrollment.
Great supplement, but not enough for full family protection on its own.
A good rule of thumb is 10–15 times your annual income. But you should also consider:
Remaining mortgage
Children’s education costs
Existing debts
Future financial goals
Use an online term insurance calculator to estimate your coverage needs.
For NRIs, PIOs, and OCIs residing in the United States, there’s another avenue worth exploring, term insurance for NRI from leading Indian insurers. These plans offer high-sum coverage at significantly lower term life insurance quotes compared to US-based options.
Term and life insurance for NRIs from Indian insurers provide you with the following benefits:
Bigger Pool of Insurers: In India, you get the option of choosing the insurance for life from the most suitable insurer. You can get the following benefits by buying from India:
Flexible Premium Payment
Choose the Policy Term
Large Sum Assured
Various Payout Options
Low Premiums
Tele/Video Medicals: The tele/video medical checkups with term insurance in India allow customers all around the world to buy term life insurance from their residential country without travelling all the way back to India, just to get their medicals cleared.
Claim Settlement Ratio: Customers can easily refer to the Claim Settlement Ratios (CSR) of different insurers released by the IRDAI. You should ideally choose an insurer with a CSR of more than 95% as it indicates that the company is reliable.
GST Waiver and Discounts: With term life insurance in India, you can get an online discount of 5% on choosing the annual premium payment mode. You will also be eligible to claim an 18% GST waiver on term insurance premiums paid.
Large Sum Assured: In India, you can purchase a term life insurance of upto 10 Crores life cover. This large sum assured, ensures your family has enough amount to cover their financial needs.
Affordable Premiums: The term life insurance quotes are much more affordable in India compared to international plans. For example: Term insurance in India is up to 50-60% more affordable than international term plans.
Easy Policy Issuance: The term life insurance in India is issued in a much more hassle-free manner than an international term life policy, and the documentation is much simpler. You can easily compare and buy term life policy from the comfort of your home.
Easier Claim Settlements: If your family lives in India, they can easily get their claims settled from their home country, rather than travelling all the way to your current residential country just to get their claims settled.
Following is the list of the term insurance plans in India that you can buy:
| Name of the Insurer | Term Insurance for NRI | Entry Age | Maturity Age | |
| ICICI Prudential Life Insurance | ICICI Pru iProtect Smart | 18 – 50 years | 85 years | |
| HDFC Life Insurance | HDFC Life Click 2 Protect Super | 18 – 50 years | 85 years | |
| Axis Max Life Insurance | Axis Max Life Smart Term Plan Plus | 18 – 50 years | 85 years | |
| Tata AIA Life Insurance | Tata AIA Sampoorna Raksha Promise | 18 – 50 years | 100 years | |
| Bajaj Allianz Life Insurance | Bajaj Allianz Life eTouch II | 18 – 45 years | 85 years |
*Disclaimer: ~Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
Note: You can use the Term Insurance For NRI Premium Calculator to calculate the premium you would need to pay for the required life cover..
Here is how you can buy term insurance from India online from the comfort of your home:
Step 1: Visit the term insurance for NRI page on Policybazaar’s official website
Step 2: Fill in your name, date of birth, gender, email, mobile number, and country of residence
Step 3: Select the right annual income, occupation type, educational background, and smoking habits
Step 4: Choose the best term insurance plan for NRIs and proceed to pay
Here is a list of documents required to purchase term life insurance from India:
Last entry-exit stamp
Photo of the Policyholder
Last 3 Month salary slips
Last 6 months' bank statements
Front and back side of the Passport
Proof of Employment ID
Copy of Valid Visa
Foreign Address Proof
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/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 38 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.
© Copyright 2008-2025 policybazaar.com. All Rights Reserved
+Rs. 820/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 38 years of age.
+Rs. 1,443/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 38 years of age.
˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
When it comes to securing your family's financial future
Read more
Northwestern Mutual is a leading life insurance provider in the
Read more
A Million Dollar Term Life Insurance Policy offers a simple yet
Read more
Family income plays a critical role in shaping financial
Read more
In the United States, the average household income plays a
Read moreInsurance
Calculators
Payment Methods
Secured With
Follow us on
