Comparison of Term Life Insurance Plans Premiums in India

I have compiled a list of Term Insurances Plans offered by various companies.

The table below shows premium payable for a healthy 28 year old non-smoker Male for an insurance term of 25 Years.

Life Insurance Cover for 28 Year Old Healthy Non Smoking Male for 25 Years Term1 Crore50 Lakhs20 Lakhs10 Lakhs
Aegon Religare iTerm Plan9,4005,0503,0601,730
ICICI Prudential Life Insurance – ICICI Pure Protect17,3068,6534,0352,468
HDFC Standard Life – Term Assurance Plan18,98610,6925,2692,717
Canara HSBC OBC Life – Pure Term Plan19,10010,3005,0203,260
Bajaj Allianz Life – New Risk Care19,72510,4254,7712,760
Kotak Mahindra Old Mutual Life – Term Plan20,30010,1505,1202,559
Reliance Life – Term22,70011,6004,9402,720
ING Vysya Life – Term Life23,74911,8744,8812,749
Future Generali – Future Care24,10012,0505,2202,810
Tata AIG Life – Raksha24,30012,1504,8602,430
Bharti AXA Life – SecureConfident24,50012,2505,6602,830
Birla Sunlife Insurance – Term Plan24,60012,4515,7603,031
Max New York Life – Level Term Policy24,74212,371NA2,474
Met Suraksha25,30012,8005,3003,100
SBI Life – Shield25,41012,7055,0822,591
LIC – Amulya Jeevan(Plan – 190)26,50013,2505,3002,650
Aviva Life Insurance – Life Shield28,56814,2855,7142,857

 

As from Table it’s clear that Aegon Religare iTerm Plan is the cheapest as of date. Its premium is nearly half of its nearest competitor ICICI Prudential Life Insurance – ICICI Pure Protect and one third of LIC for insurance of Rs 1 Crore.

Though cost is a major factor for buying a Life Insurance, you should also look other factors like convenience, claim settlement ratio, riders available among other things.

2 thoughts on “Comparison of Term Life Insurance Plans Premiums in India

  1. RAMESH M. SHAH says:

    i like to have claim settlement ratio of term plan of 2011-12 of all insurance companies in india

    • Even I would like to know that but unfortunately none of the Insurance companies make it available as of now 🙁

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