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Best Rated Term Life Insurance

Keeping your family financially protected against unfortunate events is everyone’s priority. When you have a steady source of income, you can create a good financial plan. One of the first steps is to buy the right term life insurance plan. You can do that by understanding some of the best rated term life insurance plans to secure your family’s future in your absence.

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Term Insurance

Term insurance is a pure life insurance product that provides coverage for a fixed time or years i.e., term. This type of life insurance offers a death benefit to the nominee in case of the unforeseen demise of the policyholder during the policy tenure. Term insurance plans provide high life coverage at lower premium rates.

For Example, Premium rates for Rs. 1 Crore Term insurance cover could be as minimum as Rs. 449 per month. These fixed amounts of premium can be paid one time or at regular time intervals for the whole policy term or for a limited time. Premium rates vary on the basis of the type of premium payment mode opted by the insurance buyer.

Features and Benefits of Term Insurance

  • Financial protection to family against unfortunate events

  • Easy to buy

  • Online availability

  • Long policy term

  • High cover at low premium rates

  • Low entry age

  • Premium return on survival (TROP)

  • Coverage against life-threatening diseases

  • Financial cover for disabilities and critical illnesses

  • Safety for dependents from liabilities and loans

  • High maturity age

  • Tax Benefits u/s 80C and 80D of the ITA, 1961

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

Best Rated Term Life Insurance Plan

Buying term plans for dear ones is a significant financial decision in everyone’s life that includes a right selection of policy term, sum assured, entry and maturity age. In terms of purchase mode, it is significant to know that the plan is offered via online mode or offline mode. Purchasing term insurance online is the most cost-effective and convenient way. Below is a list of best rated term life insurance plans in India 2022 from top insurance companies:

Best Rated Term Life Insurance Plans Offered by Different Insurers CSR 2020-21 Entry Age (Min-Max) Maturity Age (Max.) Policy Term (Min-Max) Sum Assured (in Rs.)
Aditya Birla Sun Life Insurance
ABSLI Life Shield Plan 98.04% 18 -65 years 85 years 10– 55 years Min.: 25 Lakhs Max.: No Limit
ABSLI DigiShield Plan 18-65 years 100 years 5-55 years Min: 30 Lakhs Max: No Limit
ABSLI Saral Jeevan Bima Yojana 18 -65 years 70 years 5– 40 years Min: 5 Lakhs Max: 25 Lakhs
Aditya Birla Sun Life Protector Plus Plan 18 – 65 years 65 years 5-70 years Min: 30 Lakhs Max: No Limit
Aegon Life Insurance
Aegon Life Saral Jeevan Bima 99.25% 18 -65 years 70 years 5– 40 years Min: 5 Lakhs Max: 25 Lakhs
Aegon Life iTerm Plan 18 -65 years 80 years 5– 62 years Min: 25 Lakhs Max: No Limit
Aegon Life Easy Protect 20-50 years 60 years 10 years 12 Lakhs
Aegon Life iTermForever 18-65 years - Whole of life Min: 12 Lakhs Max: No Limit
Aegon Life iReturn 18 to 65 years 75 years 5 -20 years Min: 30 Lakhs Max: 4 Crores
Aviva Life Insurance
Aviva Jana Suraksha 98.01% 18 – 45 years 50/55 years 5/10 years -
Aviva Saral Jeevan Bima 18-65 years 70 years 40 years Min: 5 Lakhs Max: 25 Lakhs
Aviva Life Shield Advantage Plan 18 -55 years 65 years 10 -30 years Min: 35 Lakhs Max: For A: No Limit For B: 50 Lakhs
Bajaj Allianz Life Insurance
Bajaj Allianz Life Smart Goal 98.48% 18 – 65 years 99 years 5– 40 years Min: 50 Lakhs
Bajaj Allianz Life Saral Jeevan Bima 18 – 65 years 70 years 5– 40 years Min: 5 Lakhs Max: 25 Lakhs
Bajaj Allianz Life eTouch Online Term 18 – 65 years 99 years 10– 67 years Min: 25 Lakhs Max: No Limit
Bharti AXA Life Insurance
Bharti AXA Life POS Saral Jeevan Bima 99.05% 18 – 55 years 65 years 10/15/20/25 years Min: 50,000 Max: No Limit
Bharti AXA Life Saral Jeevan Bima 18 – 65 years 70 years 5– 40 years Min: 5 Lakhs Max: 50 Lakhs
Bharti AXA Life Flexi Term Pro 18 – 65 years 99 years - Min: 25 Lakhs Max: No Limit
Bharti AXA Life Premier Protect Plan 18 – 65 years 75 years 10– 57 years Min: 50 Lakhs Max: No Limit
Bharti AXA Life Flexi Term Plan 18 – 65 years 85 years 5/10/15/20 Min: 10 Lakhs Max: 25 Lakhs
Bharti AXA Life Grameen Jeevan Bima Yojana 18 -60 years 65 years 5/10 years Min: 10,000 Max: 2 Lakhs
Bharti AXA Life Smart Jeevan 18 – 50 years 62 years 12 years Min: 50,000 Max: 5 Lakhs
Canara HSBC OBC Life Insurance
Canara HSBC Saral Jeevan Bima 97.10% 18 – 65 years 70 years 5– 40 years Min: 5 Lakhs Max: 50 Lakhs
iSelect Star Term Plan 18 – 65 years 65 years 5– 62 years Min: 15 Lakhs Max: 3 Crores
Edelweiss Tokio Life Insurance
Zindagi Plus 97.01% 18 – 65 years 80 years 10 - 80 years (Age at entry years) Min: 50 Lakhs Max: No Limit
Edelweiss Tokio Saral Jeevan Bima 18 – 65 years 70 years 5– 40 years Min: 5 Lakhs Max: 25 Lakhs
Exide Life Insurance
Exide Life Saral Jeevan Bima 98.54% 18 – 65 years 70 years 5 -40 years Min: 5 Lakhs Max: 25 Lakhs
Exide Life Smart Term Pro 18 – 60 years 80 years 15 -40 years Max: 50 Lakhs
Exide Life Smart Term Edge 18 -60 years 75 years 12– 30 years Min: 5 Lakhs
Exide Life Term with Return of Premium 18 -50 years - 10– 30 years Min: 5 Lakhs Max: 25 Lakhs
Exide Life Term Rider 18-60 years 70 years 5 -40 years Min: 50,000 Max: Lower of 50 Lakhs or SA of base policy
Future Generali India Life Insurance
Future Generali Care Plus 94.86% 18 – 65 years 85 years 5 -85 years Min: 25 Lakhs
Future Generali Saral Jeevan Bima 18- 65 years 70 years 5– 40 years Min: 5 Lakhs Max: 25 Lakhs
Future Generali Express Term Life Plan 18 – 65 years 85 years 5/10/15/20/25/30/(85 less entry age) Min: 25 Lakhs Max: No Limit
Future Generali Flexi Online Term Plan 18-55 years 75 years 10– 75 years Max: No Limit
Future Generali Jan Suraksha 18 – 50 years - 8 years -
HDFC Life Insurance
Click 2 Protect Life 98.01% 18- 65 Years 85 years 10– 30 years Min: 20 Lakhs Max: No Limit
HDFC Life Click 2 Protect 3D Plus 18-65 years 85 years 5-40 years Min: 50,000 Max: No Limit
HDFC Saral Jeevan Bima 18-65 years 70 years 5 -40 years Min: 5 Lakhs Maximum: No Limit
ICICI Prudential Life Insurance
ICICI iProtect Smart 97.90% 18 – 65 years 75 years 5– 20 years Min: Subject to Minimum Premium Max: No Limit
iProtect Return of Premium 18 -65 years 85 years 5– 40 years -
Ageas Federal Life Insurance
Ageas Saral Jeevan Bima 95.07% 18 -65 years 70 years 5– 40 years Min: 5 Lakhs Max: 25 Lakhs
MyLife Protection Plan 21 – 65 years 85 years 10– 85 years Min: 50 Lakhs Max: No Limit
Income Protect Plan 25 – 60 years 70 years 10– 30 years -
Termsurance Life Protection Plan 18 – 60 years 70 years 10-30 years Min: 5 Lakhs Max: No Limit
Ageas Federal iSurance Flexi Term Plan 18-60 years 80 years 10 -62 years Min: 50 Lakhs Max: 30 Crores
IndiaFirst Life Insurance
IndiaFirst Life Plan 96.81% 18 – 60 years 70 years 5 – 40 years Min: 1 Lakh Max: 50 Crores
e-Term Plus Plan 18-65 years - 5 -50 years Min: 50 Lakhs
Kotak Mahindra Life Insurance
Kotak e-term Plan 98.50% 18-65 years 75 years 5-40 years Min:25 Lakhs
LIC
LIC Tech-Term Plan 98.62% 18-65 years 80 years 10-40 years Min: 50 Lakhs Max: No Limit
Max Life Insurance
Max Life Super Term Plan 99.35% 18-65 years 75 years 10-35 years Min: 25 Lakhs Max: No Limit
Max Life Online Term Plan Plus 18 -60 years 85 years 10-35 years Min: 25 Lakhs Max: 100 Crores
Max Life Smart Secure Plus Plan 18-65 years 85 years 5-67 years Min: 50,000 Max: No Limit
PNB MetLife Insurance
PNB Mera Term Plan Plus 98.17% 18 – 60 years 75 years 10-99 minus entry age years Min: 25 Lakhs Max: No Limit
PNB MetLife Mera Term Plan 18 – 65 years 99 years 10-81 years Min: 5 Lakhs
Pramerica Life Insurance
Pramerica Saral Jeevan Bima 98.61% 18 -65 years 70 years 5 – 40 years Min: 5 Lakhs Max: 25 Lakhs
Pramerica Life Trushield 18 – 55 years 65 years 7/10/12/15/20 years Min: 5 Lakhs Max: 50 Crores
Pramerica Life U-Protect 18-55 years 65 years 10 – 30 years Min: 25 Lakhs Max: No Limit
Reliance Nippon Life Insurance
Reliance Life Protection Plus 98.49% 18-60 years 75 years 10- 40 years Min: 25 Lakhs Max: No Limit
Digi-term Insurance Plan 18 -60 years 80 years 15-40 years Min: 25 Lakhs Max: Np Limit
Saral Jeevan Bima 18-65 years 70 years - Min: 5 Lakhs Max: 25 Lakhs
SUD Life Insurance
SUD Life Abhay 95.96% 18-65 years 80 years 15-40 years Min: 50 Lakhs Max: 100 Crores
SUD Life Saral Jeevan Bima 18-65 years 70 years 5 -40 years Min: 5 Lakhs Max: 25 Lakhs
SBI Life Insurance
SBI Life e-Shield Next 93.09% 18 – 65 years 100 years 5 -85 less entry age Min: 50,000 Max: No Limit
SBI Life Saral Jeevan Bima 18 – 65 years 70 years 5 – 40 years Min: 5 Lakhs Max: 25 Lakhs
SBI Life – Poorna Suraksha 18 – 65 years 75 years 10/15/20/25/30 years -
Sahara Life Insurance
Sahara Life Kavach 97.18% 18-50 years 65 years 15 – 20 years Min: 5 Lakhs Max: No Limit
Shriram Life Insurance
Shriram Life Cash Back Term Plan 95.12% 12-50 years 70 years 10/15/20/25 years Min: 2 Lakhs Max: 20 Lakhs
Tata AIA Life Insurance
Sampoorna Raksha Supreme Plan 98.02% 18 – 65 years 65 years - Min: 1 Lakh Max: No Limit
Tata AIA Maha Raksha Supreme 18 – 65 years 100 years - Min: 50 Lakhs Max: No Limit

Information Sourced from IRDAI and Insurer’s official Website

one crore term plan

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

How to Choose the Best Rated Term Life Insurance Plans?

While choosing a term insurance plan, you need to check for the following factors and make sure that your family has the best financial protection under the term life insurance plan:

  1. Consider your dependents and life stages

    The first and foremost step for choosing a best rated term life insurance is to assess your life when purchasing insurance. When you secure a life cover, your financial condition and your age set the groundwork for selecting the right plan. It affects the policy term and subsequently, the life cover amount that is more suitable.

  2. Assess current lifestyle

    It is important to understand how to choose best rated term life insurance plans based on your lifestyle requirements. Your lifestyle involves spending habits and a general living standard. So, when you have a clear picture of your lifestyle needs, you can protect your family more efficiently. Moreover, they don’t have to compromise on their living standard even in your absence.

  3. Consider your income

    It is important to calculate the financial needs of your family so that you do not overestimate life coverage. If your current income is not able to meet the premium rate, you can end up over-burdening your financial condition.

  4. Assess your Existing Liabilities

    Liabilities and Debt are the other important parameters while choosing the best rated term life insurance. Sometimes, people have to repay loans over an extended time period. In case the policy tenure does not cover the time of repayment or if the amount is not enough, it can be financially difficult for your dependents.

  5. Add Riders to the Plan

    Riders are additional benefits provided by insurance companies to increase the coverage of an insurance plan. They can be attached to a base plan at the time of purchase by paying a substantial amount of premium

    Some of the standard term riders available with term plans are accidental death and disability rider, critical illness, and waiver of premium rider. You have the option to enhance the scope of a term policy by knowing how to choose the best rated term insurance plans.

  6. Check Claim Settlement Ratio

    The claim settlement ratio is the percentage of claims paid out of total claims registered in a financial year and revised by IRDAI. The higher the CSR, the easier it will be for your dependents to claim the insurance policy in your absence. This means a consistently good CSR or claims paid ratio reflects a quick and robust settlement process for claims filed under term insurance plans.

  7. Check Solvency Ratio

    The solvency ratio of an insurer informs you whether the insurance company you select will be financially or fiscally capable of claim settlement if the requirement arises. IRDAI i.e., Insurance Regulatory and Development Authority of India mandates that each life insurance company should uphold a solvency ratio of at least 1.5. By checking the solvency ratio, you can easily identify whether the insurer has sufficient funds to settle claims in both the short and long term.

  8. Look for Regular Income payout option of term plan

    Term insurance plans offer an option to choose a variant that offers regular income options along with the lump sum so that they can look after their instant requirements while investing the lump sum amount for future objectives. Thus, choosing a regular income payout option while purchasing a term insurance plan may save a lot of financial difficulties for your dependents in the future.

  9. Policy Term

    Another important parameter is the policy term for which the buyer is buying a term insurance plan. There are different types of term insurance plans that can provide coverage up to whole life. It is important to know how to choose the right policy term, based on your life stage and other important factors.

  10. Sum Assured

    Assess the sum assured to be chosen as it will cover the financial requirements of the family in the absence of life assured

  11. Consider Quality Service and Online Availability

    Quality Service is another factor that you should consider while choosing an insurance company to buy a term insurance plan. Moreover, you should also check the online availability of the customer assistance team of an insurance company for faster query resolution.


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