Term Insurance Quotes

A term insurance quote is an estimated premium provided by an insurance company, detailing how much you will pay for a specific amount of life insurance coverage over a set period (the "term"). If you pass away during this term, your nominee receives a tax-free payout. To get an accurate quote, insurers ask for details like age, medical history, smoking/drinking habits, occupation, income, sum assured, and policy term. Comparing term life insurance quotes from different providers lets you view plans side by side based on premiums, features, add-on benefits, and claim settlement ratios, helping you choose the best fit.

Read more

Why Compare Term Insurance Quotes?

Whether you're looking for the cheapest term life insurance, comparing term insurance rates, or searching for the best term life insurance policy quote, reviewing multiple quotes helps you choose the right cover at the right price.

Below are some of the key benefits of comparing term life insurance quotes online.

  • Paperless Procedure

You can purchase a term Insurance policy online with reduced paperwork by comparing term insurance quotes.

  • Informed Decision

The comparison allows you to make an informed decision about the features, T&Cs, and benefits of term Insurance policy you want to buy.

  • Quick and Convenient Buying Process

The easier process makes the policy buying process very convenient as you can purchase a policy in just a few minutes from the comfort of your home.

  • Check out the features and riders

Each policy has its own set of benefits. You can choose useful riders like critical illness cover or premium waiver without paying for extras you don't need when you look at them side by side.

  • Find the right price

Different insurers calculate term life insurance rates differently. As a result, two companies may offer different premiums for the same coverage. Comparing multiple term insurance quotes helps you find affordable protection without compromising on benefits.

Factors Affecting the Term Life Insurance Quotes

Several key factors determine your term insurance premium:

  • Age: Premiums rise with age, since older applicants carry higher mortality risk. Buying a policy earlier in life typically locks in a lower rate.

  • Occupation and Lifestyle: Insurers assess risk based on your job and habits, not just your health. A young, non-smoking applicant working in a high-risk profession, such as a pilot, oil rig worker, or professional diver, may still receive a higher quote than someone in a low-risk occupation, regardless of physical fitness.

  • Pre-Existing Medical Conditions: Health issues like diabetes, heart disease, or hypertension increase perceived risk and raise premium costs.

  • Policy Term: Longer policy terms result in higher premiums, as the insurer provides coverage for an extended period.

  • Sum Assured: The premium increases with the sum assured; a higher death benefit means a higher cost of coverage.

  • Premium Paying Term: Choosing a shorter premium payment period increases the per-instalment cost compared to spreading payments over a longer duration.

  • Premium Payment Frequency: Paying monthly, quarterly, or half-yearly costs more overall than paying annually, since more frequent payments add to the insurer's administrative and operational expenses.

  • Add-On Riders: Optional riders (such as critical illness or accidental death riders) enhance your coverage but add to the base premium.

How to Compare Term Insurance Policy Quotes?

To effectively compare term insurance quotes, evaluate the Claim Settlement Ratio (CSR) and Solvency Ratio rather than just focusing on the lowest premium. A good comparison ensures your dependents receive the payout seamlessly when needed.

  • Terms and Conditions of the Policy: Read the policy's T&Cs thoroughly before purchasing, since your plan will function strictly according to the terms listed in the policy document once bought.

  • Check if the company pays claims reliably. Look for a CSR and ASR above 95% for the last 3 to 5 years. Also check the solvency ratio, which should be above 1.5. This shows the insurer has enough funds to pay claims even in bad times.

  • See what extra riders are offered. Riders are add-ons like critical illness cover, waiver of premium, or accidental disability cover. Sometimes a plan looks cheap simply because it doesn't include these extras.

  • Check how the payout is given. Some plans give the full amount at once, some give it monthly, and some give a mix of both. Pick whichever suits your family better.

  • Read the exclusions carefully. Every plan has some situations it won't cover, like certain pre-existing illnesses or risky hobbies. Also check if there's a waiting period before the cover fully starts.

How to Get the Best Term Insurance Quotes Online?

You can request term life Insurance quotes online in just a few simple steps by using an online insurance comparison platform like Policybazaar:

  • Step 1: Visit the term insurance plans page 

  • Step 2: Fill in the essential information like name, gender, contact number, and date of birth

  • Step 3: Answer questions regarding your occupation type, annual income, educational background, and smoking habits

  • Step 4: Go through the term insurance quotes and select the plan you want to purchase

FAQs

  • What are quotes in term insurance?

    Quotes for term Insurance Plans are the estimated fees required by the insured to purchase the required term insurance for the duration of the plan.
  • How to get the best quotes on term insurance?

    Buy early, compare term life insurance quotes from multiple insurers, and share accurate health and lifestyle details. Choose a cover that matches your actual needs instead of overestimating. A clean medical profile and the right policy term usually lead to lower premiums.
  • How to read a term insurance quote?

    Emphasis is placed on sum assured, term of insurance, and premium to be paid. Take note of what period you must pay your premium for, if additional benefits will be included, whether taxes are to be charged, along with important exclusion clauses.
  • What are the factors affecting term insurance quotes?

    Age, health condition, lifestyle habits, and occupation play a major role. The sum assured, policy duration, and add-on riders also affect the final premium. Younger and healthier individuals generally get better quotes.
  • What affects term life insurance rates?

    Term life insurance rates depend on your age, medical history, smoking habits, occupation, policy term, sum assured, and any riders you choose. Younger and healthier applicants generally receive lower premiums.
  • Why do life insurance quotes vary?

    Quotes are completely customized and highly localized based on your personal profile and the specific features you select.
  • Are Online Platforms Safe to Compare?

    Yes, using online platforms to compare insurance plans is highly safe, provided you stick to authorized, reputed aggregators (like Policybazaar) and direct insurer websites. These platforms protect your data with strict encryption and help you avoid biased agent recommendations.

Life Insurance Articles

  • Recent Article
  • Popular Articles
24 Apr 2024

Most Common Life Insurance Frauds in India

Life insurance fraud is a serious financial crime in India

Read more
09 Aug 2023

What High Net Worth Individuals (HNIs) Do To...

High net worth individuals often opt for life insurance plans to

Read more
28 Jun 2023

A Review Of ICICI Prudential Life Insurance

Yes, ICICI Prudential is a highly reliable and top-rated life

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best

Read more
20 Jun 2023

Life Insurance Policy in India with High Returns

The life insurance policy in India is a type of life insurance

Read more

SBI Life Insurance 50,000 per year Plan for 5...

SBI Life Insurance provides schemes for people who do not want to pay premiums for a long period. With this plan

Read more

Life Insurance Claim Settlement Ratio

The Claim Settlement Ratio is a percentage that represents the ratio of claims paid to customers by an insurance

Read more

SBI Life Insurance Policy Surrender Value...

The SBI life insurance policy surrender value calculator is a simple online tool that helps you estimate how much

Read more

SBI Life Insurance 50000 per year Plan for 10...

SBI Life Insurance offers a wide range of plans that allow you to secure lifelong protection by paying an annual

Read more

Axis Max Life Insurance 1 Crore Plan

With many novel diseases surfacing, life seems to be fleeting with every second. Amidst this, the most fearful

Read more

˜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

+On the basis of your profile

+Rs. 410/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. 410/month (Rs.14/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 rounded off to nearest 10

+Rs. 245 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.

+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. 15/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. 504/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. 494/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. 636/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. 918/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. 1,286/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.

+Rs. 453/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.582/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. 786/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. 1,592/month 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.

+Rs. 525/month is the starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 68 years of age.

+Rs. 668/month is starting price for a 2 crore term life insurance for an 25 year-old male, non-smoker, with no pre-existing diseases, cover upto 45 years of age.

+Rs. 1,200/month is starting price for a 2 crore term life insurance for an 35 year-old male, non-smoker, with no pre-existing diseases, cover upto 55 years of age.

+Rs. 410/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.

+Rs. 577/month is starting price for a 1 crore term life insurance for an 18 year-old Male, self employed, 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. ₹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

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 2008-2026 policybazaar.com. All Rights Reserved

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.

Get Call Back Now
Claude
top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL