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Hello! Don’t you just love to compare stuff? We do it at all the places we visit to shop. We even compare jobs to benefit our future.
So, why shouldn’t we perform term insurance comparison to get ourselves the best deal to protect our families and their financial future? You may think it’s a simple task. But it’s not a piece of cake.
Coverfox can help you compare and save your money like no other platform out there! Before you get down to the exercise of comparing term insurance, it is essential to know what is best for you in the first place.
The market has many term plans which vary in terms of benefit they provide. Hence, we need to undertake the activity of comparing term plans to shortlist a plan which is best suited for our needs before we go ahead and buy it.
Never believed you could see the best term plans before you could choose your ideal fit. We have you covered there! Here is a chart which Compares best term insurance plans in India:
|Plan Name||Company||Entry Age (Min-Max)||Maturity Age (Max)||Min Sum Assured||Policy Term(Min-Max)||Claim Settlement Ratio|
|HDFC Click2Protect Plus||HDFC Life Insurance Co.||18-65 years||75 years||25 Lacs||10-40 years||99.04%|
|Max Life OTP Plus||Max Life Insurance Co.||18-60 years||85 years||25 Lacs||10-50 years||98.74%|
|ICICI Pru iProtect Smart||ICICI Prudential Life Insurance Co.||18-65 years||75 years||Subj to min premium||5-40 years||98.58%|
|BSLI Protect @ ease||Birla Sunlife Insurance Co.||18-55 years||80 years||50 Lacs||5-30 years||98.58%|
|Aegon Life iTerm Plan||Aegon Life||18-65 years||80 years||25 Lacs||5 years-upto age 80||96.45%|
|Aegon Life iReturn||Aegon Life Insurance Co.||18-65 years||80 years||30 Lacs||5-20 years||96.45%|
|Metlife Mera Term Plan||PNB MetLife Insurance Co.||18-65 years||75 years||10 Lacs||10-40 years||96.21%|
|Aviva i-life Secure||Aviva Life Insurance Co.||18-50 years||70 years||50 Lacs||10-25 years||96.06%|
|Aviva i-life Plan||Aviva Life Insurance Co.||18-55 years||70 years||25 Lacs||10-35 years||96.06%|
|Edelweiss Tokio My Life||Edelweiss Tokio Life Insurance Co.||18-60 years||80 years||25 Lacs||10 years-upto age 80||95.82%|
|IDBI iSurance Online Term Insurance Plan||IDBI Federal Life Insurance Co.||18-50 years||75 years||50 Lacs||18-25 years||95.79%|
|Flexi online Term Plan||Future Generali Life Insurance Co.||18-55 years||75 years||50 Lacs||10-57 years||95.16%|
|Bajaj Life eTouch||Bajaj Allianz Life Insurance Co.||18-65 years||75 years||50 Lacs||10-40 years||95.01%|
|Canara HSBC iSelect Term Plan||Canara HSBC OBC Life Insurance Co||18-70 years||80 years||25 Lacs||5-40 years||94.04%|
Nobody said comparing term insurance was child’s play. However, we at Coverfox believe in simplifying the complex insurance buying process for you.
We help you identify your needs, compare term insurance, and choose the best plan that suits your needs in just a few clicks.
|Compare and Save
Compare term plans from top Life Insurers through our algorithm powered search engine and get the best quotes for insurance policy instantly.
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If you’re taking the first steps to buy term insurance, then a comparison is necessary. But do you have the knowledge to know the exact plan you should buy? No? Well, let Coverfox help you there. We’ve listed out EIGHT plan factors you’ve to consider before buying term plans:
Here is the comparison of a few top term insurance plans we’ve compiled and published to help you arrive at the best choice
|Plan Name||Age at Entry||Sum Assured||Policy Term|
|ICICI Pru iProtect Smart||18-65 years||Rs. 10 lakhs min, no such limit on the max amount||5-40 years|
|Aegon iTerm Plan||18-65 years||Rs. 25 lakhs min, no such limit on the max amount||5-40 years|
|HDFC Click 2 Protect 3D Plus||18-65 years||Rs. 10,000 min, no such limit on the max amount||5-40 years or 85 less entry age or whole life|
|Max Life Term Insurance Plus||18-60 years||Rs. 25 lakhs min Rs. 100 Cr max||10-40 years|
|LIC’s e-Term Plan||18-60 years||Rs. 50 lakhs min, no such limit on the max amount||10-35 years|
What is Term Insurance?
Term Insurance is an insurance plan that provides financial protection to your family in case of your death. Term Insurance is well-known for providing a large cover at a small premium. A term plan offers various choices with regards to cover amount, cover period, premium payment period, etc.
Why should I buy a term insurance plan?
A term insurance plan is the most economical way of ensuring that your family can live the same happy and comfortable life in your absence. By choosing a decent amount of cover, you can ensure that your family lives the same way they are living now. It also helps them pays off your outstanding loans like home loan, car loan, personal loan, etc.
What are the tax benefits available under a term insurance plan?
The premium paid under a term insurance plan is eligible for deduction u/s 80C of the income tax act, 1961 up to a maximum of Rs. 1.5 lakh. The amount paid to the family in case of the insured person’s death is tax-free in the hands of the family members u/s 10(10D) of the income tax act, 1961.