Cheapest Online Term Life Insurance Plans in India – April 2012

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.

[table style=”1″]

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
1,776 2,769 4,787
20 AEGON i-Term AEGON i-Term AEGON i-Term
3,044 5,030 7,478
30 AEGON i-Term AEGON i-Term Kotak i-Term
3,905 6,684 11,168
40 AEGON i-Term AEGON i-Term Kotak i-Term
5,206 8,206 14,532
50 AEGON i-Term AEGON i-Term AEGON i-Term
4,522 7,500 15,497
75 AEGON i-Term AEGON i-Term AEGON i-Term
6,535 11,085 23,246
100 Bharti i-Protect AEGON i-Term AEGON i-Term
8,052 14,008 30,112
125 Bharti i-Protect Bharti i-Protect Bharti i-Protect
10,065 18,613 40,397
150 Bharti i-Protect AEGON i-Term AEGON i-Term
12,078 21,012 45,168
200 Bharti i-Protect AEGON i-Term AEGON i-Term
16,104 28,016 60,224

[/table]

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

  1. 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.

  2. 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.

  3. 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.

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