Best Term Insurance Plans

Term Life Insurance is the simplest and affordable form of life insurance that offers a substantial sum assured in the form of death benefit against payment of regular premiums. It is among the most important financial products that should be included in your financial portfolio. Term insurance not only secures your family financially in your absence but also gives you the peace of mind that your loved ones won’t have to compromise with their dreams and lifestyle.

But there are plenty of term life insurance plans available in the market, and it can be quite confusing to decide which one to opt for, as every insurer offers different benefits and features. So, here is a list of best term insurance plans in India which you can look into:

List of 10 Top Term Insurance Plans in India 2021

1. HDFC Life Click2 Protect Life
2. ICICI Pru iProtect Smart Plan
3. Aegon Life iTerm Insurance Plan
4. Max Life Online Term Plan Plus
5. Bajaj Allianz Life eTouch Online Term Plan
6. Bharti Axa Flexi Term Plan
7. Aviva LifeShield Advantage Term Plan
8. Canara HSBC OBC iSelect Star Term Plan
9. Exide Life Smart Term Pro
10. Future Generali Flexi Online Term Plan

1. HDFC Life Click2 Protect Life

HDFC Life Click 2 Protect Life comprises various features and benefits based on customers’ requirements at different life stages. Such as it offers death and critical illness benefits under a single policy and gives monthly income payout from the age of 60 years. It comes with three variants – Life Protect, Life & Critical Illness Rebalance, and Income Plus. All the three variants come with different benefits which you can choose as per your requirement.

2. ICICI Pru iProtect Smart Plan

ICICI Pru IProtect Smart Plan is one of the top-selling term insurance of ICICI Prudential Life Insurance. This plan offers comprehensive life coverage at affordable premiums. Along with the sum assured, it provides the benefit of accidental death benefit rider and critical illness benefit rider covering 34 critical illnesses. In addition, policyholders have the flexibility to choose from four payout options and different premium payment options based on their convenience.

3. Aegon Life iTerm Insurance Plan

Aegon Life iTerm Insurance Plan offers life cover until 100 years, along with additional riders. This cost-effective term plan pays out an additional lump-sum amount for 36 basic illnesses up to 80 years of age. In addition, it comes with several other host benefits and features considering customers’ requirements. Also, if the smokers quit smoking, their premium gets decreased under ‘It pays to Quit Smoking’ advantage.

4. Max Life Online Term Plan Plus

Max Life Online Term Plan Plus is a comprehensive protection plan offering coverage against 3 life risks – death, dismemberment, and critical illness. It includes 3 different options for death benefit – Basic Life Cover, Basic Life Cover + Monthly Income, and Basic Life Cover + Increasing Monthly Income. This affordable term plan offers the flexibility to top-up your cover amount through various riders and is backed by attractive features and benefits. Under this term plan, you have the option to pay premiums for 60 years and get coverage till 85 years.

5. Bajaj Allianz Life eTouch Online Term Plan

This term plan offered by Bajaj Allianz is a non-linked, non-participating pure protection plan that provides life coverage till 99 years of age. In addition, it gives you the option to opt from limited or regular premium. There are 4 variants of this term plan – Shield, Shield Plus, Shield Super, and Shield Supreme. It is an affordable term plan and can be easily purchased online. 

6. Bharti Axa Flexi Term Plan

This is a pure protection plan offering maximum coverage up to 75 years of age. Bharti Axa Flexi Term Plan is carefully designed to provide comprehensive life coverage against any unprecedented situation. It gives 3 benefit payout options – Lump sum, Monthly income, and Lump sum plus increasing monthly income, which you can choose as per your requirement.

7. Aviva LifeShield Advantage Term Plan

This term plan includes two options for the policyholders – Life Protection and Life-cum-disability protection along with the return of premium to help them secure their families financially. In addition, it covers death or permanent disability due to accidents and offers maturity benefits which return up to 125% of the premiums paid by the policyholders.

8. Canara HSBC OBC iSelect Star Term Plan

The iSelect Star Term Plan by Canara HSBC OBC comes with three variants – Plan Option Life, Plan Option Life with Return of Premium, and Plan Option Life Plus. It gives you the flexibility to select between different premium payment and payout options. The minimum entry age for this plan is 18 years, whereas the maxim is 65 years. In addition, it offers several benefits like spouse coverage, an increase in life cover, and more at an affordable price range.

9. Exide Life Smart Term Pro

Exide Life Smart Term Pro covers your family financially in case of uncertainties and offers maturity benefits by returning the premiums paid upon policy completion. In addition, it gives you the flexibility to pay the premiums for 5, 8, 10, or 12 years only while enjoying the benefits of life coverage for the entire policy term.

10. Future Generali Flexi Online Term Plan

Policy seekers within the age group of 18 to 55 years can purchase this policy with a minimum sum assured of Rs 50 lakh. Future Generali Flexi Online Term Plan gives flexible payout options, including lump-sum payout or monthly income. Female applicants are eligible for lower premium rates whereas if you chose a high sum assured, then a discount on premium is given.

There are several other term insurance plans available in the market. To know more about it you can visit iiflinsurance.com and pick the right one as per your requirements.