34+ Plans | 16+ Insurers | Save upto 50%
  • Rs. 1 Crore
    Term Cover @Rs 17/Day
  • Tax Benefits
    Under Section 80C & 10(D)
  • Extra Benefits
    Accidental, Terminal & Critical Illness
  • 12 Lac+
    Families Secured
Best Term Insurance Plans in 2016

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Best Term Insurance Plans in 2016-17

The primary motive of buying a term insurance is to offer financial cover to your dependents in your absence. There are innumerable term insurance plans available in the market. You simply need to select a particular plan that would suit your requirements and fulfil your financial goals of financial security and prosperity.  But the question is which one to choose? Here, we have shortlisted some of the best online term insurance plans to ease your worries.

Term Insurance Plans – Best in 2016-17

Insurer

Name of the Policy

Tenure

Age

Sum Assured

Optional

 Riders

Premium (Annual)

Claim Settlement Ratio

 

 

Min

Max

Min

Max

Max Maturity

Min

Max

 

 

 

LIC

e-Term

10 years

35 years

18 years

60 years

75 years

Rs 25 lakhs and Rs 50 lakhs 

No limit

Nil

Rs 8,988 (inclusive of Rs 1,138 as service tax)

98.14%

ICICI Prudential

iProtect Option

10 years

30 years

20 years

65 years

75 years

Rs 25 lakhs

No limit

Waiver of Premium on Disability,  Critical Illness Benefit, Death Benefit/Terminal Illness Benefit

Rs 5,085

94.10%

HDFC Life

Click 2 Protect Plus

10 years

40 years

18 years

65 years

40 years

Rs 25 lakhs

No limit

Accidental Disability Rider

Rs 5,829

94.01%

Max life

Max Life Online Term Plan- Basic Cover

10 years

35 years

18 years

60 years

70 years

Rs 25 lakhs

Rs 100 crores

Comprehensive Accident Benefit Rider

Rs 4,250

93.86%

Bajaj Allianz

iSecure

10 years

30 years

18 years

60 years

70 years

 Rs 2,50,000 and Rs 20 lakhs

No limit

Nil

Rs 4,486**

91.29%

SBI Life

eShield

5 or 10 years

30 years

18 years

60-65 years

70 years

Rs 20 lakhs

No limit

Accidental Death Benefit.

Rs 3,500 (minimum)

91.06%

Kotak Mahindra

Kotak Preferred e-Term Plan

10 years

40 years

18 years

65 years

75 years

Rs 25 lakhs

No limit

Accidental Death Benefit Rider

Rs 4,952

90.69%

Met life

Mera Term Plan-Full Lump Sum Payout

10 years

40 years

18 years

65 years

75 years

Rs 10 lakhs

No info

Accidental Death Benefit Rider, Premium Waiver, Accidental Disability,  Critical Illness Rider, Serious Illness Rider

Rs 5,267

90.24%

Bharti AXA

e-Protect

10 years

30 years

18 years

65 years

75 years

Rs 25 lakhs

No limit

Daily Hospitalization Cash Benefit Rider

Rs 4,100

88.13%

Aegon Religare

iTerm

5 years

40 years or up to 75 years, whichever is earlier

18 years

65 years

75 years

Rs 10 lakhs

No limit

Accidental Death Benefit Rider, Waiver of Premium Rider on Critical Illness, Women Critical Illness Rider

Rs 4,674

81%

 

*Above calculations are for a 30-year old non-smoker male who is earning Rs 5 lakhs per annum and is looking for Rs 50 lakhs coverage for 30 years.

**This is the premium rate of a 30-year old male looking for Rs 50 lakhs coverage for 30 years.

Conclusion

Term life insurance shields your family from financial losses that may befall them in case of your sudden demise. This article would help you in finding the basic facilities that all companies provide and select the one that would suit your need.

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