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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.