4 Amazing Term Insurance Policies to Consider to Buy 2022-23 India


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Updated on Aug 08, 2023

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Popular Term Insurance Companies

Term insurance is very handy. It helps you to get a substantially high life cover at a low rate. This is why most people compare insurance policies and buy term insurance. This is also why every leading life insurance company in India has many term insurance plans on offer. While most of these plans are very good, you need to compare term insurance policy online to find the plan that’s best suited for you. In this article, we list some of the best term insurance plans that you can find these days. Take a look and you then compare online term plans to locate your ideal cover.

Best Term Insurance Policies in India

1. LIC Tech Term Insurance Plan

When you compare online term plans, you will see many results from LIC. This is because LIC, or the Life Insurance Corporation of India, is the oldest and the largest life insurance company in India. The terms plan on offer from LIC are excellent and the Tech Term plan is no different. This plan is available for anyone between the ages of 18 and 65 years. You can opt for an increasing cover or a level cover when you opt for this term plan. Also, NRIs can buy this term cover.

2. HDFC Click 2 Protect 3D Plus Term Plan

The next term plan on the list is the Click 2 Protect 3D Plus Term Plan from HDFC Life. If you are aged between 18 and 65 years, you can get this plan and the coverage can continue till you are 85 years old. The plan also offers several options such as multiple payout options, flexible premium payment options, etc. You can also add many riders to this policy and make it all the more customised for your needs. Definitely look out for this policy when you compare term insurance policy.

3. Max Life Smart Term Plan

The Max Life Smart Term Plan is another excellent policy that you can consider getting. The age criteria for this plan is between 18 years and 65 years. The premium payment option is flexible with the limited premium payment mode applicable too. You can add riders to this term plan and make it more flexible too. The plan is available online, making it all the more convenient for you to buy it. Keep this option in mind when you compare online term plans.

4. ICICI Prudential iProtect Smart Term Plan

And last but not the least, we have the ICICI Prudential iProtect Smart Term Plan. One of the best-selling term plans in India, this online policy offers very high life covers. The plan also has many benefits such as an in-built critical illness cover. Anyone between the ages of 18 years and 65 years can buy this policy. Compare insurance policy and find this option easily

There are many reasons why you should buy term insurance. From offering financial security to your loved ones to saving tax every year, a term plan can help you in several ways. However, to get the maximum value out of the policy you purchase, you should definitely compare insurance policy and then get a good cover. Thankfully, the process to compare term insurance policy online is quite simple and quick. So go ahead and do so and you will have a suitable term plan in no time.

Also read: What is Term Insurance with Maturity Benefits?What is Term Insurance with Maturity Benefits? | What is the Right Term Period for Term Insurance Policy? | Term Insurance vs Health Insurance: Difference between Term insurance and Health insurance Plans | Best Term Insurance Plan With Return Of Premium In India

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FAQs on Term Insurance

What is a Term Insurance Plan?

A term policy is a type of life insurance product that guarantees death payout to the beneficiaries/nominees upon the death of the policyholder during the policy term, upon approval from the insurer. In exchange for this guarantee, a specific sum of money is deducted at fixed intervals.

How does a term insurance plan work?

Term policy provides financial coverage (sum assured) to the family members at the time of the policyholder's death. This type of life insurance covers your family from the death risk for a limited time called a policy term. Simply means, this plan takes care of your dependents in such times of crisis.

Is term insurance a good investment?

A term insurance plan will help the family to meet their day to day expenses and accomplish the long-term financial goals too. Yes, it is worth buying a term insurance policy no matter what year it is. When compared to other types of life insurance products, a term insurance policy is much beneficial.

At what age term insurance is best?

Anyone between the ages of 18 to 65 can opt for term insurance. However, your 20s is a good time to get into the insurance market and plan for your family's future. Since most people land their first jobs in their 20s and start earning a basic amount, they have relatively lower incomes and quite a few expenses.

Jul 14, 2021
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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.

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