34+ Plans | 16+ Insurers | Save upto 50%
  • Rs. 1 Crore
    Term Cover @Rs 16/Day
  • Tax Benefits
    Under Section 80C & 10(D)
  • Extra Benefits
    Accidental, Terminal & Critical Illness
  • 7 Lac+
    Families Secured
*Please note that the quotes shown will be from our partners
*savings provided by insurer

The Top Online Term Life Policies in India

Term life insurance is one of the oldest forms of insurance where benefit is paid out to the family of the insured upon the event of their death. However term life insurance policies have evolved since they first came on the market. They can be applied for online and come with several additional health and tax benefits.

What a Term Insurance Policy Will Get You

Most term insurance policies ensure a specific set of benefits to the insured and their family members. They are:

  • Lump sum in case of critical illness
  • Payments in case of critical illness or disability
  • Lump sum in case of death
  • Additional sum assured as an option in case of accidental death

Ideal Circumstances for Buying Term Life Policies

  • You are the sole or major earning member of your family
  • You want to ensure regular income for your family even if you are not around
  • You want your insurance plan to periodically incorporate increasing cost of living due to inflation
  • Your loved ones depend on your income for financial stability
  • You want your family to be taken care of in case of your death or disability

Some Pointers on How to Choose the Most Suitable Term Life Insurance

Flexible financial planning: several term life insurance plans offer policy holders the benefit of being able to increase their death benefit at key stages of their life including marriage and child birth. For instance, ICICI Prudential’s iProtect plan allows the insured to increase the sum assured by 50 percent when they get married. The plan makes similar provisions to cover other important developments in the future

Benefits for Women: women face several specific and critical health threats at advanced age brackets. Debilitating illnesses like uterine and breast cancer are on the rise. Several term life insurance providers have been providing riders that will cover critical illnesses for women.

Convertible and renewable: depending on the terms and conditions, insurers will allow policy holders to convert their term life plans to endowment plans for the same payout but with an increase in premium. Renewable policies, as the term suggests, ensures the policy holder can renew the policy at the end of the first term without a medical examination.

Top 6 Term Insurance Policies

Appended below are the top 6 term life insurance plans based on the percentage of claims settled by the insurance providers.The following table has been created based on a payout of Rs. 1 crore at the time of policy maturation. All policies include tax benefits.


Claims Settled

 (in percentage)


 (in Rupees)

Upper Limit of Coverage

Max Life Online Term Plan



66 years

Birla Sun Life Protect@Ease Income Plan



61 years

ICICI Prudential iProtect Smart Lumpsum Plan



71 years

PNB Metlife Mera Term Plan-Full Lumpsum Payout Plan



71 years

Bajaj Allianz iSecure Plan



61 years

HDFC Life Click 2 Protect Plus Plan


10, 156

71 years

**The comparison has been based on calculations at PolicyBazaar.com, including a payout of Rs. 1 crore

Max Life Online Term Plan

Max Life Term Plan is a one-time lumpsum payout plan with a maximum coverage of upto 66 years. Riders include critical and terminal illness free of additional cost. They also cover accidental death and disability, and a premium waiver but for a fee.

Birla Sun Life Protect@Ease Income Plan

Birla Sun Life’s online term insurance plan pays up to Rs. 20 crore in benefits. This is paid out either as a one-time death benefit, or gradually over a period of time. Premiums can be paid annually or on a monthly basis as per the policy holder’s convenience. Riders such as accidental death benefit, critical illness, hospital cash and surgical care can be added for additional premiums.

ICICI Prudential iProtect Smart Lumpsum Plan

While the premium for this term policy can be on the expensive end of the spectrum, the plan covers terminal illness and disability in addition to death as part of the basic plan. Critical illness and accidental death benefit riders can be added for a higher premium.

PNB MetlifeMera Term Plan-Full Lumpsum Payout Plan

This policy will see the benefit equal to the sum assured paid out in lumpsum as part of the death benefit. Like other plan accidental death, accidental disability and critical illness provisions can be made for higher premiums.

Bajaj Allianz iSecure Plan

Like the ICICI plan the premium for this plan is slightly higher than the usual market rate, however in case of untimely death of the insured during the coverage period, the sum assured will be paid out in full to the beneficiary. In addition, accidental death and disability, critical and terminal illness and waiver of premium riders can be added at no extra cost.

HDFC Life Click 2 Protect Plus Plan

HDFC’s online term plan comes with the benefit of flexible payment – the premium can be paid annually, after 6 months, monthly or at one go. The HDFC click to product plus plan also allows the insured party to increase the amount of their sum assured. Accidental death benefit, accidental disability/dismemberment and critical illness coverage can be added for additional premiums.