• Term Insurance Plans For Family

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    Policy Coverage

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    Term Insurance Policies

    Your family is your first priority. While you cannot have any guarantees in life, you can protect your family from financial insecurity in the event of your unfortunate death or even critical illness. Term life insurance policies are the most simple and fundamental insurance products available in the market. Customers can choose from several term insurance policies available in the market.

    Features of Term Insurance Policies for Family

    The salient features of Term insurance policies are listed in the table below:

    Product feature

    Description

    Cheapest form of life cover

    Compared to other forms of insurance, term life insurance cover is cheaper

    Pure protection plan

    Designed to protect your family from unexpected circumstances

    No investment option

    Term insurance cover provide cover to the dependents. The sum assured is not reinvested in any manner

    More coverage for low premium

    Term insurance policies provide more coverage for a lower premium

    Flexible premium payments

    Customers can choose from a range of premium payments options

    Cover for a specific period

    Cover is provided for a specific period only

    Risk management

    If a customer takes a housing loan for 10 years, he or she can take a term policy of corresponding value

    Riders

    Several additional riders such as critical benefit rider, accidental death benefit and partial permanent disability are available

    Simple and hassle-free

    Easy to understand product

    Variants

    Several companies offers term insurance plan with variants such as level benefit, increasing benefit and decreasing benefit

    No maturity benefits

    In most term insurance plans, there are no maturity benefits in that if a policyholder survives, he or she doesn't get any maturity benefits. However, some insurance providers are coming out with maturity benefits as well.

    Top Term Insurance Policies in India

    Some of the sought-after term insurance policies in india include the following:

    1. HDFC Click2Protect

    2. Kotak Life ePreferred Term Plan

    3. LIC Online e-Term

    4. ICICI Prudential iCare

    5. Max Life Online Term Option I

    Details related to top term insurance plans are listed in the table below:

    Insurance policy

    Company

    Solvency ratio

    Claim settlement ratio (%)

    LIC e-term

    LIC

    1.54

    97.7

    Click2Protect

    HDFC Standard Life

    2.17

    95.8

    e-Preferred

    Kotak

    2.67

    92.1

    iTerm

    Aegon Life

    3.22

    66.1

    iSecure

    Bajaj Allianz

    2.86

    90.6

    Some of the other term insurance policies available in the market include the following

    Company Name

    Product Name

    Bharti Axa

    e-Protect

    Metlife

    Met-Protect

    ICICI Prudential

    i-Care

    Future Generali

    Smart Life

    Star-Union Dai-ichi

    Term Plan

    SBI life

    Smart Shield

    Max Life Online Term Plan

    The features of Max Life Online Term Plan are listed below:

    • Customers can choose from three death benefit options as listed in the table below:

    Death benefit

    Description

    Option 1

    100% of the Sum Assured

    Option 2

    Sum assured + monthly income (level). i.e,

    100% of sum assured +0.4% of sum assured p.m for 10 years

    Option 3

    100% of sum assured + monthly income (increasing) for 10 years (in the first year, the monthly income is 0.4% of sum assured. Ths sum assured increases by 10% p.a.

    • Offers comprehensive accident benefit rider

    • Does not offer any maturity benefits

    • Premium rates are lowered for non-smokers

    • Customers can avail of discounts for higher sum assured

    • Offers annual mode of premium payment

    • The minimum sum assured is Rs.25 lakh while the maximum is Rs.100 crores

    • The table below shows the premium rates* for a sum assured of Rs.50 lakh

    Age (Male)

    Level monthly income sum assured (non-smoker)

    Increasing monthly income sum assured

    30

    Rs.5,350

    Rs.5,800

    40

    Rs.10,150

    Rs.16,800

    *excluding service tax and other applicable rates

    Example

    Sanchit Sharma, a 30-year-old IT employee opts for Max Life Online Term plan for a sum assured of Rs.30 lakh for 20 years. Sharma dies after paying seven premiums. Consequently, his nominee will receive 100% of the sum assured, i.e, Rs.30 lakh upon his death, following which the policy will be terminated.

    Term Insurance Plans For Family Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Trusted Policy"
      0.5 3.0/5 "Satisfactory"
      I do online payment for this LIC policy. Good life secured policy. I found LIC is trustworthy to invest. I've been holding this policy more than 8 years. Risk coverage policy. Accidental and death benefitable policy. I used to pay the premium of Rs. 5000 every month. Its a life time policy. After 60 years it will get matured. I will get a sum assured amount of Rs. 10 lakhs
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I am using the life insurance policy from the LIC for which I am paying a premium of almost 1 lac. Their services are good and never faced any issues so far. The payment options are also nice with the LIC. Being a Govt company the security for investment is certainly there with the LIC,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the LIC Bharti Jeevan Policy for a while. I pay a premium of 21000 per year. I make payments Via Cheque.. The service is good. No issues so far. The tenure of the policy is 15 years. Overall it has been a hassle free experience with the LIC and their services.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 20, 2018
    • Exide Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've been using the Life insurance policy from the Exide Life for a while. The response is not good. I pay a premium of 2000 per year via ECS. The premium gets auto debited from the account as it is more convenient for me. So far it has been a useful insurance policy to have.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy with the LIC. I am paying the premium 11000, per year. The service good. It is so easy to make payments for this policy. I never faced any issues with their services. Being a govt company the security for my investment is guaranteed with the LIC.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • Max Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the Max Life and I pay a premium of 600 per Month, I make payments online and the sum assured is 1 Crore. My friend is an agent and never faced any issues with their service so far. Overall it has been a hassle free experience with them.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the LIC Jeevan Tarang Policy for a while. It is take for my children. The tenure of the policy is 18 years. It can also be converted to a pension scheme where my children will be getting 28000 per year as a part of the plan. It is a useful policy and recommendable.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the LIC Bhima Gold Money back policy for a while now. I will get cash back every 5 years via DD. I pay a premium of 700 monthly for this policy. It is a very useful policy considering the low premium I pay. Overall it has been a good experience with the LIC and their services.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a Jeevan Anand policy with the LIC. I am paying the premium of 500 per month. It is too easy to make payments and I never faced any issues with their services. Being a govt company the security is there with the LIC Overall it has been a good experience .
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Better policy to use"
      0.5 5.0/5 "Blown Away!"
      I got the life insurance policy long back. This policy has the tenure of 20years. The plan benefits and the coverage is good with this policy . I would say i am satisfied having the Life insurance policy with Life Insurance Corporation of India.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Wonderful"
      0.5 3.5/5 "Pretty good"
      I am having the life insurance policy with the LIC of India. I would like to say that the customer service is good one and the response is better one too. Policy coverage value is good too with them. I am happy with the LIC of India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I am having the Life Insurance policy with the Life Insurance Corporation of India. I would like to say that the customer service is also very good too and the response is good too. Coverage value is fine one too with the LIC of India.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Best"
      0.5 4.5/5 "Excellent!"
      Customer service is not experience with the Life Insurance Corporation of India, Policy coverage is good and I have taken two policy with the Life Insurance Corporation of India. Everything is better one with them till now.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • ICICI Prudential Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The tenuity period is for 10 years. I have been using since 2016 and i am happy by using the life insurance. The payment i do through the on line for monthly once. Apart from that the documentation i have done through the physically at my doorsteps.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 20, 2018
    • Max Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have been using since 5 years. I am very happy by using the MAX LIFE INSURANCE. i had a excellent experience with the life insurance. The tenuity period is for 10 years and it is a short term policy from life insurance. I have been using because i am happy holding this insurance policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 20, 2018
    • HDFC Life Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the HDFC life and the customer service is good too. I would like to say that everything is good and their response too. I am happy with them till now and everything is better with the HDFC life insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "LIC is a very good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken this LIC Jeevan Tarang policy 10 years before. I don't remember about the plans and benefits. I'm paying the premium amount of rs. 10000 six months once. I will come to know about the benefits when the maturity arrives. Total tenure of the policy is 12 years. Sum assured amount is 8 lakhs. Death benefits, Risk coverage and Accidental benefits are available. I used to make the payment through cash. My brother working as LIC agent and he suggested this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • Bajaj Allianz Life Life Insurance
      "Best product offerings"
      0.5 4.0/5 "Great!"
      I have three policies from Bajaj Allianz life. The premium gets auto debited from the account(Check details here : https://www.bajajallianzlife.com). I don't have to worry about the due date and this makes life so much easier. The agents are very friendly and in case of any discomfort, they have always helped me understand and sort things out. I recommend Bajaj Allianz to everyone over any other company in the market
      Was this review helpful? 0
      , pune
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken life insurance from LIFE INSURANCE CORPORATION OF INDIA and the yearly premium is 30000. The total maturity period is for 20 years. After the maturity period i will get the sum assured and the interest. I mostly do cash payment.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 14 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 3 months by cash and i am convenient with the payment options. The maturity period for this policy is after 23 years.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 19, 2018
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