7 Best Term Insurance Plans in India 2021

Here are the 7 best term insurance plans in india that you can buy in India, without 

1 LIC Tech Term Plan

LIC Tech Term Plan is one of the best term insurance plans for all Indians. LIC Tech Term is a non-linked, non-participating pure online term plan.

It is a pure term insurance plan this means in case of unfortunate death of the policyholder during policy term, nominee will get sum amount assured. 

If the policyholder survives the policy term nothing is payable.You also have the option to go for level sum assured and increasing sum assured option under this policy.

• LIC Tech Term is a pure term plan that can be purchased completely online.
• The premium of this policy is comparatively similar to other term plans available in the market.
• The minimum sum assured of this plan is 50 Lakh and the maximum coverage age is up to 80 years.
• Optional Accidental rider cover is applicable.
• Different premium rates for women and non-smoker are available.
• The level sum assured and increasing the assured sum option is also available.
• LIC Tech Term is a very good term plan available at low premium rates.

If you are looking to take a policy, you should definitely try this plan by LIC.

2 LIC Jeevan Amar Term Plan

LIC has recently launched a new term plan called Jeevan Amar. This plan you can take only offline only. Jeevan Amar is available with two options called the level sum assured and increasing sum assured. 

It is one of the best plans offered by LIC and the key features of LIC Jeevan Amar are.

• This plan provides the option of level sum assured and also increasing sum assured.
• This plan offers special premium rates for women and non-smokers.
• Jeevan Amar offers maximum coverage of up to 80 years of age for the applicant.
• This plan offers a selection to the policyholder for death benefit payment as a lump sum or on an instalments basis.
• The minimum sum assured in this plan is 25 Lakh with No cap on the maximum sum taken.
• The policy term in Jeevan Amar is 10 years to 40 years.
• Overall LIC Jeevan Amar is a complete plan which offers flexibility and increased coverage age as well. 

If you have not purchased any term plan you should go for LIC Jeevan Amar.

Also Read, Top 10 Low investment business ideas for India 2021

3 LIC e-Term Insurance Plan

LIC e-term plan is one of the best term insurance plans that are available in the market. This plan can be purchased online or offline. 

The important features and eligibility requirements of e-Term insurance plan by LIC are given below.

• This plan can be purchased only via the online in the official website.
• It is a pure term plan which means that it only provides death benefits and does not offer any other benefit on maturity.
• This plan covers all types of death including the accidental death of the customer.
• A important point to be kept in mind is loans are not given against this policy.
• The minimum policy period is 10 years and the maximum is 35 years.
• This plan provides coverage of up to 75 years of age for the applicant.
• The minimum sum assured under this plan for the non-smoking category is 50 Lakh.
• A high claim settlement ratio and trusted brand are positives about this plan.

4 ICICI Prudential iProtect Smart Term Plan

This Term Plan by ICICI provides 360-degree coverage to your life at a reasonable cost. 

This plan also offers claim payment on the diagnosis of 34 critical illnesses in humans. The key features and benefits are the following.

• You have options to select payout for a nominee from the lump sum, Income, and increasing income.
• This plan offers terminal illness benefit. This means you will be paid for the detection of critical illness.
• Also gives you the option to add accidental benefits at a later stage.
• This plan covers a wide range of critical illnesses.
• The death due to suicide is also covered under this plan.
• And the minimum policy term period is 10 years and the maximum is 30 years.
• Minimum sum assured under of this plan is 8 Lakh.

5 HDFC Click 2 Protect 3D Plus Term Plan

HDFC Click 2 Protect 3D Plus Term Plan is a unique and best term insurance plan that provides coverage against three uncertainties death, disability, and disease.

 This plan is offered by HDFC. The key features and benefit in detail

• HDFC Click 2 Protect 3D Plus offers 9 different options for coverage.
• This plan offers a life stage protection feature to increase insurance coverage on certain key milestones without medical.
• Offers a top-up option to increase coverage every year.
• This plan offers attractive premium rates for female lives and non-tobacco users.
• This term plan provides comprehensive coverage and premium waiver benefit on diagnosis of critical illness.
• The minimum Policy term of this plan is 5 years and the maximum is 40 years.

6 Max Life Online Term Plan Plus

Max Life Online Term Insurance Plan is next on the list of best term insurance plans in India.

 This plan offers basic life cover along with increasing monthly income to your family in your absence. The key features and benefit detail of this plan are given below.

• It offers a one-time payout to nominees along with increasing monthly income for 10 years.
• This plan also gives an option to increase coverage.
• The minimum policy term of this plan is 10 years and the maximum is 35 years.
• And the maximum coverage up to the age of 85 Years.
• This plan is also offered to NRI in the selected countries across the world.
• High claim settlement ratio, increasing monthly income to the nominee, and coverage up to a maximum age of 85 years are plus points for this plan.

7 SBI Life eShield

SBI Life eShield is one of the best term insurance plans offered by SBI Life. eShield is a pure term plan. 

eShield offers a wide range of benefits at an affordable premium. The key features of this plan are:

• SBI eShield offers an option to select a benefit from life cover or an increasing cover.
• This plan offers inbuilt accelerated terminal illness benefit and two rider options for complete coverage.
• This plan offers a discount on the premium for a non-smoker.
• And the minimum policy term of this plan is 5 years and the maximum is 30 years.
• This plan provides a maximum coverage up to age 75 Years.