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 Term 1 Crore 50 Lakhs 20 Lakhs 10 Lakhs
Aegon Religare iTerm Plan 9,400 5,050 3,060 1,730
ICICI Prudential Life Insurance – ICICI Pure Protect 17,306 8,653 4,035 2,468
HDFC Standard Life – Term Assurance Plan 18,986 10,692 5,269 2,717
Canara HSBC OBC Life – Pure Term Plan 19,100 10,300 5,020 3,260
Bajaj Allianz Life – New Risk Care 19,725 10,425 4,771 2,760
Kotak Mahindra Old Mutual Life – Term Plan 20,300 10,150 5,120 2,559
Reliance Life – Term 22,700 11,600 4,940 2,720
ING Vysya Life – Term Life 23,749 11,874 4,881 2,749
Future Generali – Future Care 24,100 12,050 5,220 2,810
Tata AIG Life – Raksha 24,300 12,150 4,860 2,430
Bharti AXA Life – SecureConfident 24,500 12,250 5,660 2,830
Birla Sunlife Insurance – Term Plan 24,600 12,451 5,760 3,031
Max New York Life – Level Term Policy 24,742 12,371 NA 2,474
Met Suraksha 25,300 12,800 5,300 3,100
SBI Life – Shield 25,410 12,705 5,082 2,591
LIC – Amulya Jeevan(Plan – 190) 26,500 13,250 5,300 2,650
Aviva Life Insurance – Life Shield 28,568 14,285 5,714 2,857

 

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. 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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