Which is the Best Term Life Insurance?

Consumer VOICE compared 11 companies to find to the Best Term Insurance Plans. We focussed on online term insurance policy plans since most of the companies are online purchase. It saves them lots of time and paperwork and is an advantage for the policy holder as well since the premiums offered on online are cheaper.

Brands Compared: Aditya Birla Sun Life Insurance, Bharti AXA Life Insurance, Canara HSBC OBC Life Insurance, Exide Life Insurance, ICICI Prudential Life Insurance, IDBI Federal Life Insurance, Kotak Life Insurance, Life Insurance Corporation of India, Max Life Insurance, SBI Life Insurance and Tata AIA Life Insurance.

It’s the cheapest type of insurance but it’s also a no-return plan—just like your medi-claim or car insurance cover. Points that can put you in two minds about buying one in the first place. However, a close study will most likely persuade you that the pros outweigh the cons, depending of course on the safety net that you and your family require your standard of living, and your planned investments and expenses. It also helps to remember that life insurance is not about investing your money to earn a return on it; it’s essentially about financial protection for you and those who matter to you.

Apart from the comparative study we have compiled a detailed Buying Guide – How to buy Term Life Insurance Policy

Brands Compared

  • Aditya Birla Sun Life Insurance
  • Bharti AXA Life Insurance
  • Canara HSBC OBC Life Insurance
  • Exide Life Insurance
  • ICICI Prudential Life Insurance
  • IDBI Federal Life Insurance
  • Kotak Life Insurance
  • Life Insurance Corporation of India
  • Max Life Insurance
  • SBI Life Insurance
  • Tata AIA Life Insurance.

Parameters Compared

  • Minimum entry age (years)
  • Maximum entry age (years)
  • Minimum sum assured (Rs, in lakh)
  • Maximum sum assured (Rs, in lakh)
  • Minimum policy term (in years)
  • Maximum policy term (in years)
  • Premium payment modes
  • Rider benefit
  • Claim-settlement ratio (in %)
  • Consumer Feedback

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