Term life insurance is designed to provide a financial safety net for your family if something happens to you. Among the various plans available in India today, the best term life insurance products tend to be those that combine a reliable insurer, clear product structure, meaningful riders (like critical illness and disability benefits), and sensibly priced premiums. These plans should pay quickly and predictably at claim time, without burying important benefits under marketing complexity.
Choosing the “best” plan, however, is not just about finding the cheapest premium or a familiar household brand. It’s about aligning your coverage to your financial responsibilities, liabilities, dependents, and health profile, and ensuring the insurer behind the policy has a strong claim infrastructure and low complaint levels.
Why Choosing a Term Plan Can Feel Confusing Today?
If you’re comparing term plans for the first time, the market can feel overwhelming. Insurers now offer multiple variants, payout formats (lump sum vs income), life-stage flexibility, premium breaks, return-of-premium versions, illness riders, disability riders, wellness benefits, exit value options, and whole-life coverage extensions.
Most of these features look similar at first glance, which leads to two common pitfalls:
Most buyers over-optimize on price, ignoring the insurer’s claims performance or product design.
Others overpay for brand familiarity, assuming that a big name equals a better experience.
Neither is ideal. At Ditto, when we evaluate term plans, we filter out marketing noise and focus on features that matter when life actually happens, during underwriting, servicing, and most importantly, at claim time.
The rankings below reflect this practical lens and are built to serve a typical Indian family that wants financial continuity, not complicated insurance constructs.
How Do We Evaluate Term Insurance Plans (Ditto’s Methodology)
Our rankings do not depend on brand popularity, distribution dominance, or policy sales volume. We use a weighted model based on three objective pillars:
Product Features (30%): Covers critical illness and disability protection, premium waiver benefits, payout flexibility, exit options, life-stage enhancements, and other additions that matter in real-world situations.
Premium Fairness (10%): Benchmarked for a healthy 30-year-old salaried buyer in Bengaluru seeking a ₹1 crore cover. Premiums are classified as affordable, moderate, or expensive.
The weighted score converts into a five-point rating. This structure helps compare plans objectively rather than relying on marketing materials or anecdotal reviews.
Talk to an expert today and find the right insurance for you.
Top 5 Term Insurance Plans in India: Detailed Reviews
Here’s a quick breakdown of how each plan is designed, how the insurer performs, the real-world advantages, and the limitations, so you can compare the top contenders easily.
01
Axis Max Life
Smart Term Plan Plus
A versatile and feature-rich term plan from a reliable insurer that performs well in real-world scenarios.
Axis Max Life
Smart Term Plan Plus
4.6
Overall Rating
Premium Rating
5.0/5
Insurer Rating
4.9/5
Feature Rating
4.1/5
Customer Service Rating
5.0/5
Product Structure
Offers six variants covering most needs: Regular plan (Level cover), Early ROP Plus, Return of Premium, Smart Cover, Whole Life Cover, Income Protection Cover
Level Cover and Smart Cover are the two most practical variants (Smart Cover offers 1.5× cover for the first 15 years).
Key Features
Critical Illness Cover: Covers up to 64 illnesses for a period of 20 years.
Terminal Illness Benefit: Accelerated payout of up to ₹1 crore upon diagnosis of a listed terminal illness.
Cover Continuance: Allows premium deferral for a year under specific conditions without losing coverage (premium must be repaid later).
Instant Payout: Allows an advance payout of up to ₹2 lakh at claim intimation, subject to the sum assured selected.
Waiver of Premium: Premiums are waived on listed illnesses or disabilities, keeping the policy active.
Health Management Services: Teleconsultations, network discounts, and related services via the Max Life app.
Pricing & Value
Competitive pricing for a ₹1 crore cover despite a broad feature stack.
Strong balance of affordability + versatility elevates overall rating.
Servicing & Experience: Smooth digital workflows, responsive support, and minimal back-and-forth during onboarding and claims.
02
HDFC Life
Click 2 Protect Supreme (C2PS)
A polished, feature-rich term plan backed by an industry-leading insurer. Not the cheapest, but a solid choice for buyers who value reliability over price.
HDFC Life
Click 2 Protect Supreme (C2PS)
4.25
Overall Rating
Premium Rating
1.5/5
Insurer Rating
4.7/5
Feature Rating
4.5/5
Customer Service Rating
5.0/5
Insurer Strengths
Strong claim metrics and extremely low complaint levels.
Wide servicing network and predictable claims handling.
Product Structure
Three clear variants:
Key Features
Waiver of Premium: For critical illness & disability, ensuring coverage continues during income disruption.
Life Stage Boosts: Increase cover during marriage or childbirth without reapplication.
Income Payout Options: Nominees can choose structured income instead of a lump sum.
Critical Illness Rider: Covers 60 illnesses (for up to 15 years).
Premium Break: Pause premiums temporarily (for a year) while keeping cover active. Premiums need to be paid back along with next year’s amount the following year.
Active Management Tools: Smart Exit, instant partial payout on claims, and app-based wellness services.
Pricing & Value: Premiums are on the higher side; buyers partially pay for HDFC’s brand and servicing reliability.
Servicing Experience: Document requests can involve some back-and-forth, but the process is structured and predictable.
03
Bajaj Life
eTouch II
A clean, reliable, and competitively priced term plan that covers essentials well, making it a strong value for buyers prioritizing cost without compromising credibility.
Bajaj Life
eTouch II
4.25
Overall Rating
Premium Rating
4.0/5
Insurer Rating
4.1/5
Feature Rating
3.4/5
Customer Service Rating
5.0/5
Insurer Strengths
Strong claim metrics and low complaint levels.
Onboarding and servicing are smooth, especially for NRIs (quick medicals, covered costs, and clean documentation).
Product Structure
Three simple variants:
Key Features
Terminal Illness Payout: Early benefit on diagnosis (up to ₹2 cr).
Waiver of Premium: Applicable for accidental disability or terminal illness.
Income Payout Options: Nominees can choose structured payouts.
Premium Holiday add-on: Allows temporary premium skips without losing cover.
Early Exit Value: Available at older ages under specific rules.
Health Management Services: Teleconsultations, health checkups, and discounts on pharmacy/lab tests.
Pricing & Value
Among the most affordable for a ₹1 crore profile.
Even with add-ons like accidental death benefit, pricing remains competitive.
Servicing Experience: Straightforward journeys with minimal friction; strong for NRI profiles.
Limitations
Lower brand pull compared to HDFC/ICICI.
Feature depth is simpler than the top two picks.
04
ICICI Prudential
iProtect Smart Plus
A reliable and mainstream term plan from a trusted private insurer. Covers the essentials cleanly, supports key life-stage needs, and suits buyers who want brand confidence without complexity.
ICICI Prudential
iProtect Smart Plus
4.1
Overall Rating
Premium Rating
5.0/5
Insurer Rating
4.4/5
Feature Rating
3.3/5
Customer Service Rating
5.0/5
Insurer Strengths
Widely recognized private insurer with strong scale and digital infrastructure.
Proposal processing and medicals are generally fast; occasional delays get resolved.
Complaint levels are slightly higher than top peers, bringing its overall rating down a notch.
Product Structure
Straightforward variant lineup:
Key Features
Life Stage Protection: Increase coverage during marriage, childbirth, or the disbursement of home loan events.
Smart Exit: Option to exit and receive premiums back after a defined period.
Premium Break: Pause premiums temporarily (for upto a year) after paying regularly for a period.
Instant Partial Payout: Early accelerated payout of ₹3 Lakhs at claim intimation for higher covers.
Flexible Payouts: Lump sum or income-based formats for nominees.
Pricing & Value
Priced in the mid-range, not as cheap as Bajaj or Axis Max, but not expensive either.
Many buyers choose ICICI for brand comfort rather than a pricing advantage.
Servicing Experience: Digital journeys are smooth and standardized, contributing to buyer confidence.
Limitations
Slightly higher complaint levels vs. top private insurers.
Feature depth is adequate but not as rich as HDFC or Axis Max in certain constructs.
05
Aditya Birla Sun Life
Super Term Plan
A well-rounded, distinctive term plan with strong illness-related value inside the contract. Particularly compelling for buyers who want both death and illness protection without stitching riders together.
Aditya Birla Sun Life
Super Term Plan
4.1
Overall Rating
Premium Rating
5.0/5
Insurer Rating
3.9/5
Feature Rating
4.3/5
Customer Service Rating
5.0/5
Insurer Strengths
Steady private insurer with good claim metrics and smooth digital servicing.
Slightly lower CSR & ASR and smaller on-ground footprint compared to top private insurers.
Product Structure
Three simple variant options:
Easy for families to map their needs without complexity.
Key Features
Inbuilt Accelerated Critical Illness (ACI): Covers a range of 42 illnesses; up to 50% of sum assured paid (capped at ₹50 Lakhs).Often cheaper than buying a standalone CI rider separately.
Terminal Illness Payout: Built in for early financial support (upto ₹ 1cr).
Accidental Total & Permanent Disability: Waives premiums if the rider is opted for.
Life Stage Flexibility: Boost cover during marriage, childbirth, or home purchase.
Cover Continuance: Allows premium deferral under specific conditions.
Early Exit Value: Available at certain ages/tenures; also includes fast partial payout on claim intimation.
Pricing & Value
Competitive pricing for a ₹1 crore profile, especially attractive once the embedded CI benefit is factored in.
Limitations
Lower brand pull vs. HDFC/ICICI for retail buyers.
The distribution footprint is smaller in some geographies.
Term Insurance Premium Comparison for Top Plans in India
Illustrative premiums shown above are for a healthy 30-year-old non-smoker, non-diabetic male and female for a ₹1 crore cover till age 65, based on standard rates without 1st year discounts.
Note: Actual pricing may vary based on age, health conditions, underwriting, policy configuration, payment frequency, and insurer revisions.
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Ditto’s Take
The plans listed above perform well on the factors that matter most in term insurance: insurer reliability, product design, servicing quality, and pricing fairness. The scoring framework simply makes those differences easier to compare without relying on marketing claims or headline premiums.
However, the plan that is "best" for you may not be the one at the top of the list. Health conditions, income patterns, existing loans, dependents, and future goals can influence what makes the most sense for your situation. It is better to treat this list as a strong starting point rather than a final prescription.
Disclaimer
Our rankings reflect an objective view of insurer-reported data submitted to IRDAI, converted into a simple scoring system so you can compare easily. Partner or not, every insurer on this list is evaluated using the same criteria, which is why you’ll see a mix of both partners (Axis Max Life, HDFC Life, ICICI Prudential) and non-partner insurers (Aditya Birla Sun Life).
This list is based on publicly available information and does not qualify as personalised insurance advice. Please review the policy brochure carefully and speak with a licensed advisor before buying a plan.
Frequently Asked Questions
Which is the best term insurance plan in India right now?
There isn’t a single plan that suits everyone. However, based on insurer strength, product design, and pricing fairness, plans from Axis Max Life, HDFC Life, Bajaj Life, ICICI Prudential, and Aditya Birla Sun Life consistently rank among the top choices in 2026.
How do I choose the right term plan for myself?
Look at three things: how dependable the insurer is at claims, whether the product offers useful features like critical illness or disability protection, and whether the premium is fair for the value offered. The best plan is simply the one that fits your health, responsibilities, and family’s financial needs.
Who should consider buying a term plan?
Anyone whose family would face a financial gap if they were not around. This typically includes salaried earners, parents, loan holders, business owners, and even non-working housewives within underwriting limits.
What matters more in term insurance: the insurer or the features?
The insurer matters more. A strong feature stack does not help if claims are delayed or disputed. That is why insurer strength carries the highest weight in most evaluations.
Does buying term insurance early make a difference?
Yes. Buying earlier means locking in lower premiums, smoother medical approvals, and fewer exclusions. Waiting can make coverage expensive or even unavailable if health issues arise.
