Below is the chart showing lowest online term life insurance premium for a particular age for different insurance amount. The tenure of insurance is 60-(age at time of taking insurance). So for 30 Years aged person the insurance tenure is 30 Years, for 40 years age its 20 years and for 50 years age its 10 years.
How to read this table: The cheapest online term plan for a 30 year old with insurance of Rs. 10 Lakh and insurance tenure of 30 years is offered by Aegon i-Term Plan at a premium of Rs. 1,776.
All the premium below is for healthy male only.
|Insurance Amount(in Lakhs)||Age at time of taking Insurance|
|30 Years||40 Years||50 Years|
|10||AEGON i-Term||AEGON i-Term||AEGON i-Term|
|20||AEGON i-Term||AEGON i-Term||AEGON i-Term|
|30||AEGON i-Term||AEGON i-Term||Kotak i-Term|
|40||AEGON i-Term||AEGON i-Term||Kotak i-Term|
|50||AEGON i-Term||AEGON i-Term||AEGON i-Term|
|75||AEGON i-Term||AEGON i-Term||AEGON i-Term|
|100||Bharti i-Protect||AEGON i-Term||AEGON i-Term|
|125||Bharti i-Protect||Bharti i-Protect||Bharti i-Protect|
|150||Bharti i-Protect||AEGON i-Term||AEGON i-Term|
|200||Bharti i-Protect||AEGON i-Term||AEGON i-Term|
A few things to note in the table:
- No individual plan is the cheapest across all age and tenure. So the cheapest term plan would be specific to your profile and needs.
- The premium for Rs. 40 Lakh insurance is less than the premium for Rs. 50 Lakh insurance for 30 and 40 years age from the same company. More details here.
Disclaimer: Data above is as of March 30, 2012 and might change in future. You are advised to check the premium at the respective websites before making final purchase.
7 thoughts on “Cheapest Online Term Life Insurance Plans in India – April 2012”
I have a term life insurance policy through my job and i wanted to know if the IT Dept will be taking taxes out if and when the policy is paid by insurance company.
No in case of life insurance, if its paid on demise of the policy holder, the amount is tax free.
I think you have missed Aviva i-Life which is a great term insurance plan and also is cheap comparatively.
I myself have bought i-Life and think its a good term plan.
Aviva i Life is good term plan but I checked and still the mentioned plans are marginally cheaper than Aviva. Let me know if you find any specific cell that needs to be corrected.
In the above table you have noit mentioned i-life. Guess that should have been included.
Thank you for sharing useful information. By using this information anyone can choose the right plan for the investment. Looking for the more informative article next time also.