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Top 10 Term Insurance Providers In India

Updated On Jun 13, 2021

Term insurance helps you save up your current earnings to meet financial goals in the future. It provides life cover for a period of time and several advantageous benefits. There are many insurance providers that offer various term insurance plans. It is important to compare them and then choose the one that best fits one's personal needs and circumstances.

Top 10 Term Insurance Providers in India

There are many term insurance providers in India that offer attractive plans and benefits. Here are the top term insurance providers in India. 

Term Insurance Provider

Claim Settlement Ratio (FY 2019-20)

Popular Term Insurance Plans

Bajaj Allianz Life Insurance

93.55%

Bajaj Allianz eTouch Plan

Aditya Birla Sun Life Insurance 

97.54%

Aditya Birla Sun Life Shield Plan

Max Life Insurance

99.22%

Max Life Smart Term Plan

Bharti AXA Life Insurance

97.35%

Bharti AXA Flexi Term Plan

ICICI Prudential Life Insurance

97.84%

ICICI iProtect Smart Plan

Life Insurance Corporation of India

96.69%

Jeevan Amar Plan

nAegon Life Insurance 

98.01%

Aegon Life iTerm Insurance Plan

Kotak Life Insurance

97.40%

Kotak e-Term Plan

State Bank of India Life Insurance Plan

97%

SBI Life eShield Plan

HDFC Life Insurance

99.07%

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1. Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is one of the top insurance providers in India. They have great term insurance plans available under them with a variety of rider options. 

2. Aditya Birla Sun Life Insurance

With an Aditya Birla Sun Life Insurance term plan, you can secure the financial stability of your family as well as for yourself. The term plan available under this company is robust and comprehensive. Moreover, it is also quite cheap.

3. Max Life Insurance

Under the Max Life Insurance term insurance plan, you can gather benefits as and when needed for your purposes. It even has a Multiple Death Benefit Option that provides comprehensive assistance on the death of the policyholder. 

4. Bharti AXA Life Insurance

The Bharti AXA Life Insurance company is a reliable insurance provider that offers incredible savings and protection. Your nominees can avail of the death benefit in multiple ways with the term plan from Bharti AXA Life Insurance.

5. ICICI Prudential Life Insurance

If you purchase your term plan from ICICI Prudential Life Insurance, you are definitely making a great choice. You can get coverage of up to 99 years of age at an affordable premium rate. The death benefit can be paid out in multiple ways too.

6. Life Insurance Corporation of India

Life Insurance Corporation of India has long been a trustworthy insurance provider. They have multiple insurance plans under them. Their strong claim settlement ratio and many features make them a top choice.

7. Aegon Life Insurance

Aegon Life Insurance provides term insurance plans with coverage up to 100 years. It is one of the most among all insurance providers. It also has crucial rider options that give comprehensive protection.

8. Kotak Life Insurance

Kotak Life Insurance has term plans that can be easily purchased online and are very accessible. At affordable premium rates, you can get robust protection. 

9. State Bank of India Life Insurance Plan

State Bank of India Life Insurance Plan is a reliable source of term insurance plans. Its claim settlement ratio is on the higher side which indicates it is almost a given that you will be able to get assistance from it. 

10. HDFC Life Insurance

HDFC Life Insurance has one of the highest claim settlement ratios. The company has a smooth and reliable insurance process. Its term plans are beneficial and profitable options.

Conclusion

Various insurance providers are offering multiple term insurance plans in India. Make sure to look through different plans before settling on one. This will help you get the best one for yourself.

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