In India, protecting one’s family is a common objective for everyone. Each decision signifies how it will help to secure your family members. That is why life insurance companies in India offer term life insurance to help people protect their loved ones.
However, finding a reliable insurance company is not an easy task. You need to measure many aspects to ensure you approach the right insurance company. This is something that people are more concerned with as they want to provide the best protection.
Here are the best term life insurance companies in India, where you can purchase safety for your family.
Essentials to Consider for the Best Term Insurance Plan
Purchasing a term life insurance policy that covers your family’s safety is a decision that should be based on a proper and thorough understanding.
It also means that if you are considering top insurance companies in India, then you must compare them on several factors.
Here are a few factors that you need for a better comparison and classification:
- Claim Settlement Ratio (CSR)
This is one of the key metrics that decides which insurance company is more reliable for you to secure your term plan. Higher CSR signifies the ratio of policy settlements against the policies received. The higher the CSR, the better the company’s market value, so do check that.
- Premium Amount Against Sum Assured
This factor has two areas you need to understand first. The sum assured is the amount in the policy for the beneficiary, and the premium is the amount payable for the sum assured. So, you must consider this factor when you approach several life insurance companies in India.
- Flexible or Open for Extension in Policy
This factor allows you to extend or expand the amount and other benefits in your term plan. Aside from extending the assured sum, the insurer offers flexibility in payout options and/or term extensions.
- Market Value and Customer Feedback
Customers’ words and feedback can make a shift in deciding which company can provide better value for what you seek. This helps them build a positive market value, so when you look for a reliable company for your term plan, you must consider this factor.
Best Term Life Insurance Companies in 2025
Here are the companies that can help you provide better term life plans in 2025:
- Max Life/ Axi Max Life Smart Secure Plus
Premium per Sum Assured: 522/month for 1 Cr. sum assured.
Key Attributes: Death benefit options, RoP in case of entire term survival, terminal illness plans and more.
- HDFC Life Click 2 Secure Life
Premium per Sum Assured: 520/month against a 1 Cr term plan
Key Attributes: RoP for maturity benefits, Term Plan Variants, Covers COVID-19 Claims, and more.
- ICICI Pru iProtect Smart
Premium per Sum Assured: 432/month against a 1 Crore term plan
Key Attributes: Term insurance for senior citizens (age coverage 99 years), term plan variants, covers critical illness, accidental death, women-specific plans, and more
- InsureMile Term Life Insurance Plan
Premium per Sum Assured: Varies depending on age, health profile, and more.
Key Attributes: Flexible payouts, life stage benefit (allowing extension to sum assured), Senior citizens term plans (age covered 100 years), multiple term plan variants, discounts for non-smokers and women.
- Bajaj Allianz Life eTouch
Premium per Sum Assured: 487/month against a 1 Cr term plan
Key Attributes: RoP for maturity benefits, Early exit value (surrender and receive paid premium amounts), Flexibility with skipping premium amount for 1-3 years, term plan variants, and more.
Final Thoughts
Selecting a term plan is a life-saving decision, and if it is based on hearsay, then you may regret it later. Whereas, if you base your steps after a thorough understanding, then you may offer a better and secure life to your family.
Therefore, the blog presents you with the top life insurance companies in India that offer you multiple benefits with your term plan. So, base your decision wisely!