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10 Popular Term Insurance Plans in India

Updated On Apr 23, 2021

A term insurance plan is a necessary component that everyone must have in their life. It safeguards the financial interests of your family and prevents them from falling into a helpless state in case of your untimely demise. Term insurance plans also assure you of help in case of disabilities, accidents and critical illnesses with a choice from a variety of riders that you can add to your basic term insurance plan. 

What is a Term Insurance Plan?

A term insurance plan is an insurance plan that provides you cover for a certain period or "term". If you encounter any inconvenience (covered by a rider) or untimely demise, there will be a benefit payout from the insurance company. However, there is no maturity benefit provided in the case of a term insurance plan. 

Nevertheless, it still provides incredible cover at very affordable prices. Term insurance plans are one of the cheapest insurance plans. They also have simple terms and conditions which makes them an appealing choice for most. 

Also Read:- Tax Benefits Under Term Insurance Plans in 2021

10 Popular Term Insurance Plans in India

There are many term insurance plans available from various insurance companies. This can make the choice of a good term insurance plan difficult. Take a look at the 10 most popular term insurance plans in India to gather more insight into which plan might be good for you.

There are several factors that must be taken into consideration to judge the perfect term insurance plan for yourself. The following most popular term insurance plans have been compared to some of the most important categories.

Term Insurance Plan

Maximum Entry Age

Premium Waiver

Accidental Death Rider

Aviva LifeShield Advantage Plan

55 Years

Not Available

Included 

Edelweiss Tokio Life My Term Plus

55 Years 

Available 

Available 

Aditya Birla Sun Life Protector Plus Plan

65 Years

Available

Included 

Bajaj Allianz eTouch

65 Years

Available

Available

Future Generali Flexi Online Term Plan

55 Years

Not Available

Available

LIC e-Term Plan

60 Years

Not Available

Not Available

PNB MetLife Term Plan

65 Years

Not Available

Available

SBI Smart Shield

60 Years

Free

Available

ICICI Prudential iProtect Smart

60 Years

Available

Available

Kotak e-Term Plan

65 Years

Available

Included

Endnotes

As evident, there are a variety of choices when it comes to term insurance plans. It is important that you judge the term insurance plans with respect to your personal needs and circumstances such as your income, lifestyle choices as well as your family’s requirements and expenses. If you are planning to take a new loan or have growing children, you must take it into consideration when calculating the ideal insurance amount to build a comprehensive term insurance plan. 

You May Also Like to Read:- When Should I Purchase a Term Insurance Plan?

Advantages of Purchasing Term Insurance Plans Online

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Find the right life insurance for you
Find the right life insurance for you