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How Much Does A Term Cover Of Rs. 1 Crore Cost?

Team BankBazaar

A term insurance plan is a pure life insurance policy. A basic term insurance plan carries no investment benefit, and hence its premium is much lower in comparison to other life insurance options such as ULIPs and endowment plans that combine insurance and investing.

A term plan allows a person with dependants and liabilities to cover his life risks in an economical manner, so that his income can be easily replaced in his death without financially straining his dependants.

Here’s a look at the latest term insurance premium rates from various insurance providers.

What Does A Term Insurance Plan Cost?

Insurance Company Name

Premium Costs for Sum Assured of Rs. 1 Cr

Premium Costs for Sum Assured of Rs. 50 lakh

Aegon Life – iTerm

INR 7,497

INR 4,223

Future Generali Life – Flexi Online Term

INR 7,682

INR 4,229

Edelwiess Tokio Life – mylife

INR 8,496

INR 4,673

Max Life Online Term Plan Plus

INR 8,378

INR 4,720

HDFC Life Click2Protect

INR 9,717

INR 5,550

ICICI Prudential Life – iProtect Smart – Life

INR 8,279

INR 4,728

Aviva i-Life

INR 8,694

INR 4,868

Bajaj- eTouchOnline- Shield

INR 10,366

INR 6,166

Bharti AXA Life Flexi Term Plan

INR 8,260

INR 4,543

Aditya Birla Sunlife – DigiShield Plan

INR 9,523

INR 5,452

Canara HSBC OBC Life Insurance- Iselect

INR 7,379

INR 4,203

DHFL Pramerica – FlexiETerm*

INR 8,149

INR 4,569

Exide Life Elite Term Plan

INR 9,810

INR 5,938

IDBI Federal – iSurance Flexi Term Plan

INR 9,251

INR 5,050

IndiaFirst Life Insurance – Life E-Term Plan

INR 7,080

INR 3,599

Kotak e-Term Plan

INR 7,552

INR 4,838

LIC- Tech Term

INR 11,007

INR 6,254

PNB MetLife Mera Term Plan

INR 8,756

INR 5,428

Reliance Nippon Life-Digi Term-Life Secure

INR 8,402

INR 4,687

SBI Life- eShield

INR 11,092

INR 6,372

Shriram Life Online Plan

INR 9,763

INR 5,177

Star Union Dai-ichi- SUD Life Premier

INR 18,172

INR 10,384

TATA AIA – Maha Raksha Supreme- V2

INR 13,000

INR 7,500

Data Compiled By: BankBazaar.com

Data pertains to term insurance cover for a 30-year-old, salaried, non-smoker male, residing in Bangalore, earning Rs. 5 L annually, for a 30 year term. Data as on 09 Oct, 2019. BankBazaar.com is an online marketplace for financial products.