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Best Term Insurance Plans India 2026 - Premium & Claim Ratio
Compare term insurance plans by premium, claim settlement ratio, and coverage. Find the best term life insurance for ₹1 Crore cover.
Last updated: 5/16/2026, 3:09:52 AM
Data Points
| Item | Value | Change |
|---|---|---|
| Aegon Life iTerm | 8200₹/year | |
| Bajaj Allianz Life | 8500₹/year | |
| Max Life Smart Term | 8900₹/year | |
| Kotak e-Term | 9100₹/year | |
| PNB MetLife | 9400₹/year | |
| ICICI iProtect Smart | 9500₹/year | |
| TATA AIA Sampoorna | 9800₹/year | |
| HDFC Click 2 Protect | 9999₹/year | |
| SBI Life eShield | 10200₹/year | |
| LIC Tech Term | 11500₹/year |
Key Insights
- 1Lowest premium: ₹8,200/year for ₹1 Cr cover
- 2Industry average claim settlement ratio: 98.1%
- 3Online term plans are 30-40% cheaper than offline
- 4Smokers pay 50-80% higher premiums
Methodology
Premiums calculated for 30-year-old healthy male, non-smoker, ₹1 Cr sum assured, 30-year term. Claim ratios from IRDAI annual report.
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