Best Term Insurance Plans in India 2022 from Top Term Insurance Companies


5 min read

Searching for the Best term insurance Plan or Top 5 Term Insurance Company in India 2022. Read on the complete blog to get complete information.

For the last two years, we have witnessed everything that was even beyond our thoughts. These difficult times taught us to prepare ourselves for the coming future and keep our families safe and secure. One step towards this can be investing in a term insurance plan. Through an online term plan comparison, you can easily see the pros and cons of each plan and how a plan can help you secure the future of your loved ones. When you compare term insurance plans online it helps you select the best-suited policy for your family.

What is a term insurance plan? Why do I need one? 

 A term insurance plan offers financial support to your family in case of your untimely death. It is a pure protection plan that offers wide coverage and several benefits to safeguard the needs of the policyholder’s family. 

There are a lot of companies available in the Indian market today that offer the best insurance policies. However, it is important to choose a term insurance plan that suits you well. Online term plan compare is the best way to do this. 

PayBima Khushi Ka Tohfa

1. LIC Tech Term 

LIC Tech Term Plan is a pure risk premium plan that is available through an online application process only. The plan comes with attractive benefits and additional features and is offered at affordable rates.

Key features:

  • Two sum assured options are available to choose from
  • Flexible premium payment terms
  • Options to choose your policy term
  • Special rates available for women
  • Attractive rebates applicable on high sum assured
  • Rider option available

2. HDFC Click 2 Protect 3D Plus Term Plan:

HDFC Click 2 Protect is one of the best comprehensive term insurance plans available in India. The plan offers several features and benefits to safeguard the needs of the policyholder and his family.

Key features 

  • Offers 9 plan options to choose from
  • Lifelong protection feature available
  • Flexible premium payment terms
  • Life stage protection feature 
  • Top-up cover options are available
  • Special premium rates for female policyholders

3. SBI Life eShield:

SBI Life eShield is a comprehensive pure term insurance policy that offers several benefits and attractive features to safeguard the financial needs of the policyholder’s family in his absence.

Key features:

  • Can be purchased online, very easily
  • Offers 3 plan options to choose from
  • Flexible payment modes offered
  • Terminal illness benefit features available
  • Rider options available

4. Max Life Smart Secure Plus Plan:

Max life Smart Secure Plus is a comprehensive term insurance plan that acts as a financial shield for your family in the case of an emergency. The plan offers wide coverage, optional benefits, and additional features. 

Key features:

  • Flexibility to choose the death benefit according to the needs
  • Includes terminal illness cover for the policyholder
  • On choosing the return of payment variant, you receive the maturity benefit
  • Optional accident cover feature available
  • Low premium rates for female policyholders

5. ICICI Prudential iProtect Smart Term Plan:

ICICI Pru iProtect Smart is a term insurance plan that has been in demand since its launch due to its desirable features. It is a comprehensive plan that offers 360-degree coverage at affordable rates. 

Key features:

  • Comes with four payout options 
  • Offers special premium rates for non-smoking individuals
  • Flexibility with premium payment modes
  • Special premium rates for female policyholders
  • Critical illness coverage option available
  • Special coverage feature available for female organ cancer( like breast or cervical cancer)

6. Bajaj Allianz Smart Protect Goal Term Plan:

Smart Protect Goal is a complete term insurance plan offered by Bajaj Allianz who are one of the reputed insurance companies of India.  The plan comes with multiple variants to suit the needs of all its clients and acts as a financial shield at the time of unfortunate events. 

Key features:

  • Whole life coverage option available
  • Flexibility to choose from 4 variants of the plan 
  • Additional coverage for child education post the death of the policyholder
  • Optional add-on covers are available 
  • Covers more than 50 critical illnesses
  • Return of premium feature available

Also Read: How To Compare The Best Online Term Insurance Plan?

7. Kotak Mahindra E-Term:

Kotak Mahindra E-Term plan is an efficient, comprehensive individual term insurance plan designed in a way to add extra benefits to a protection plan. Kotak Mahindra’s E-Term plan comes with many add-on features and advantages that are offered at affordable rates.

Key features:

  • Flexibility to choose between three payout options
  • Three variants of the plan are available
  • Critical illness benefit feature is included
  • Special premium rates for female policyholders and non-smokers

8. PNB MetLife Mera Term Plan Plus:

PNB MetLife Mera Term Plan is as unique as its name. It is a comprehensive pure protection plan that takes care of your expenses and needs are always taken care of at every stage of life.

Key features:

  • Low premium rates 
  • Flexibility to choose from four payout modes
  • Special premium rates for non-smoking individuals
  • Whole life coverage feature available 
  • Can be bought easily through online mode

Since all of the aforementioned plans have been rated the best in India, in 2022, choosing one of them can be tricky. Once you chalk out your financial goals, an online term plan compare with the guidance of consulting insurance agents can be a good way to do this.

8 Best Term Insurance Company in India to Purchase a Term Life Insurance in 2022:

  1. LIC Term Life Insurance
  2. HDFC Term Life Insurance
  3. SBI Term Life Insurance
  4. Max Term Life Insurance
  5. ICICI Term Life Insurance
  6. Bajaj Allianz Term Life Insurance
  7. Kotak Mahindra Term Life Insurance
  8. PNB MetLife Term Life Insurance

Also Read: Term Insurance Premium vs. Health Insurance Premium

Nov 18, 2021
Author Bio
Author Image

PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

Related Blogs

Would love to hear from you

Share your candid feedback. Your email address won’t be published, we promise!

All fields are required

Corporate Office : Mahindra Insurance Brokers Ltd ( A Mahindra Group Company ) Sadhana House, Ground Floor, 570 P. B. Marg, Behind Mahindra Towers, Worli, Mumbai 400018.

Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).

Insurance is the subject matter of solicitation.

For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.

Copyright © 2022 Mahindra Insurance Brokers. All Right Reserved.

Get A Call Back
Get A Call Back