Best Term Insurance Plans in India 2019

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HDFC Life Click 2 Protect 3D Plus

HDFC Life Click 2 Protect 3D Plus is a best term insurance plan, which provides comprehensive insurance coverage to the life of the insured at an affordable premium rate. 3D in HDFC Life Click 2 Protect 3D Plus refers to life’s uncertainties i.e. death, disease and disability. The scheme provides financial security to the insured’s family in case of the insured during the term of the policy. HDFC Life Click 2 Protect 3D Plus offers a choice of 9 plans to choose from.

Features and Benefits HDFC Life Click 2 Protect 3D Plus

  1. It is an online term insurance plan, which can be purchased in a simple and hassle free manner
  2. The scheme provides financial security to the insured’s family in case of any event.
  3. Insurance holders can choose from 9 different plan options as per their requirement and suitability.
  4. The plan offers a 30-day free-period
  5. Tax benefits can be availed under sections 80C and 10 (10D) of the Income Tax Act.
  6. The scheme offers low premium rates for non-smokers and women insurance buyers.

Max Online Term Plan Plus

Max Online Term Plan Plus is known as one of the best term insurance plans, providing financial security to the family of the insured at a low premium rate. As a non-participating pure term insurance policy, Max offers 3 different life cover options to choose from, plus an online term plan. The plan also provides additional rider benefits as accidental death rider benefits to increase the coverage of the policy. It also provides a waiver of the premium rider benefit, in which life insurance continues due to illness or illness in the event of not being able to pay the premium.

Max Online Term Plan Plus Features and Benefits

  1. This is a pure term insurance plan, which can be purchased/Buy online in a simple and easy process.
  2. The plan offers 3 different versions of the payout option to choose from.
  3. The plan comes with additional ridership benefits, so as to increase the coverage of the policy.
  4. The plan provides flexibility over the premium payment mode.
  5. The tax benefit can be availed under sections 80C, 80D, 80DD and 10 (10D) of the IT Act.
  6. The plan offers a 30-day free-period.
  7. The scheme offers low premium rates for non-smokers and women insurance buyers.
Best Term Insurance Plans in India 2019
Best Term Insurance Plans in India 2019

SBI Smart Shield

SBI Smart Shield is known as one of the best term insurance plans, providing financial security to the insured’s family at a cheaper cost rate. As a non-participating pure term insurance policy, SBI Smart Shield offers 4 different life cover options to choose from. The scheme provides additional death benefit as accidental death rider benefit and critical illness benefit to increase the coverage of the policy.

SBI Smart Shield Features and Benefits

  1. It is a traditional non-linked net term insurance plan.
  2. The plan comes with additional ridership benefits, so as to increase the coverage of the policy.
  3. The plan offers a 15-day free-period.
  4. In case of death of the insured, the death benefit is paid to the beneficiary of the policy.
  5. The insured can avail tax benefits under Section 80C of the Income Tax Act.
  6. The maximum maturity age of this policy is 70 years.
  7. The plan offers 4 different options of payouts.

Aegon Life iTerm Plan

As one of the best term insurance plans, Aegon Life iTerm Plan is a pure term insurance policy that comes with inbuilt terminal illness benefits. The plan provides life coverage up to the age of 80 years. As an online term plan, the policy purchase process is very simple and hassle free. The scheme provides additional death benefit as accidental death rider benefit and critical illness benefit to increase the coverage of the policy.

Features and Benefits Aegon Life iTerm Plan

  1. This plan can be purchased online in a simple and easy process.
  2. The minimum entry age of the policy is 18 years, while the maximum entry age of the policy is 65 years.
  3. The maximum maturity age of the policy is 80 years.
  4. The insured can avail tax benefits under Section 80C of the Income Tax Act.
  5. In case of death of the insured, the death benefit is paid to the beneficiary of the policy.
  6. The plan provides flexibility over the premium payment mode.
  7. The scheme offers low premium rates for non-smokers and women insurance buyers.

Aviva iLife Plan

Aviva Life is a great term insurance plan that offers life coverage to the family of insurers at a very affordable premium rate. The policy provides death benefit to the insured’s family in the event of death of the insured. Apart from death benefit, the scheme also provides tax benefits under sections 80C and 10 (10D) of the Income Tax Act, 1961.

Features and Benefits Aviva iLife Plan

  1. It is one of the best term plans, which can be purchased online in a simple and hassle free manner.
  2. In case of death of the insured, the policy guarantees an annual payment to the family for 15 years.
  3. Tax benefits can be availed under sections 80C and 10 (10D) of the Income Tax Act.
  4. The plan offers 2 different options for payouts.
  5. The maximum maturity age of this policy is 70 years.
  6. The scheme provides a free-term for 15 days.

Bajaj Allianz eTouch Online Term Plan

Bajaj Allianz eTouch Online Term Plan is known as one of the best term insurance plans of Bajaj Allianz Life Insurance, which provides financial protection to the policyholder’s family at a low premium rate. As a non-participating pure term insurance policy, Bajaj Allianz EoTouch offers 4 different life cover options to choose from online term plans. Apart from death benefit, the scheme also provides tax benefits under sections 80C and 10 (10D) of the Income Tax Act, 1961.

Features and Benefits Bajaj Allianz eTouch Online Term Plan

  1. This is a comprehensive insurance plan, which can be purchased online.
  2. High amount assured discount Additional amount of Rs 1 lakh coverage amount is applicable over the principal amount.
  3. The policy provides financial security to the family of the insurance holder, if any.
  4. Death benefit payment is offered in two different payment options.
  5. Tax benefits can be availed under sections 80C and 10 (10D) of the IT Act.
  6. The scheme offers low premium rates for non-smokers and women insurance buyers.

PNB Metlife Mera Term Plan

As one of the best term insurance plans, PNB Metlife Mera Term Plan provides protection to the insured’s family at a lower premium rate. PNB Metlife Mera Term Plan also has the option of increasing the monthly cover with 12% per annum. Apart from this, the policy also provides coverage for a spouse under the same policy. Apart from the death benefit, the scheme also provides tax benefits under sections 80C and 10 (10D) of the Income Tax Act, 1961.

Features and Benefits

  1. It is a comprehensive term insurance policy, which can be purchased online.
  2. The policy provides different coverage to the spouse under the same scheme.
  3. The plan provides flexibility to increase policy coverage.
  4. The scheme comes with a maximum maturity age of 75 years.
  5. A lower premium rate is offered for non-smokers and women policy buyers.
  6. The policyholder can avail tax benefits under Section 80C of the IT Act.

Claim Settlement Ratio of Term Insurance Companies

Insurance ProviderDeath claims receivedClaim settlement ratioDeath Claims PaidClaims Pending
LIC7,55,901 98.31%7,42,2430.50%
Max Life9,22397.81%8,8040.10%
Birla Sunlife8,43694.69%8,0551.70%
Tata AIA Life3,87396.01%3,6591.00%
Star Union Daichi1,26684.05%1,1910.30%
ICICI Prulife12,30996.68%11,5460.80%
PNB MetLife2,46687.14%2,2901.50%
Bajaj Allianz20,66191.67%18,9783.00%
Kotak Mahindra Life2,68691.24%2,4373.20%
HDFC Life12,18997.62%11,0312.30%
SBI Life14,87696.69%13,3033.20%
Sahara Life77890.21%7003.60%
Aegon Life46097.11%4130.20%
Canara HSBC57694.95%5163.10%
Exide Life3,43296.40%2,9551.60%
Reliance Life18,14294.53%15,2115.80%
Future Generali2,16089.53%1,8081.80%
Aviva Life1,69090.60%1,3960.50%
Bharti AXA Life1,11292.37%9002.90%
IDBI Federal Life1,01790.33%7364.30%
India First Life1,65582.65%1,1955.00%
Shriram Life1,96063.53%1,30711.20%
DHFL Pramerica95390.87%5456.50%
Edelweiss Tokio11993.29%685.00%

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