{"id":641,"date":"2015-03-26T20:35:09","date_gmt":"2015-03-26T11:35:09","guid":{"rendered":"http:\/\/trucompare.in\/blog\/?p=641"},"modified":"2016-03-31T16:40:22","modified_gmt":"2016-03-31T11:10:22","slug":"best-term-plans-in-india","status":"publish","type":"post","link":"https:\/\/www.trucompare.in\/blog\/best-term-plans-in-india\/","title":{"rendered":"Best Term Insurance Plans in India- A quick comparison"},"content":{"rendered":"<p><a href=\"http:\/\/trucompare.in\/trucomparev2b\">\u00a0<img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"484\" data-permalink=\"https:\/\/www.trucompare.in\/blog\/what-is-term-insurance\/trucompare_head\/\" data-orig-file=\"https:\/\/i0.wp.com\/www.trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?fit=205%2C21&amp;ssl=1\" data-orig-size=\"205,21\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"TruCompare_head\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/www.trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?fit=205%2C21&amp;ssl=1\" class=\"alignnone wp-image-484\" src=\"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?resize=205%2C21\" alt=\"TruCompare_head\" width=\"205\" height=\"21\" \/><\/a><\/p>\n<h2>Best Term Insurance Plan<\/h2>\n<p>Please see an updated version of the comparison here-\u00a0<a class=\"bump-view\" href=\"http:\/\/trucompare.in\/blog\/irda-claim-settlement-ratio-2015\/\" data-bump-view=\"tp\">IRDA Claim Settlement Ratio for 2015 &#8211; Compare best online term insurance plans<\/a><\/p>\n<p>As <strong>online term plans<\/strong> have gained popularity, almost all the life insurance companies have come up with their online term plans and claims to have the best term insurance plan. We usually view two criteria for comparing\u00a0the term plans- price and claim settlement ratio.<\/p>\n<p>When it comes to price- you will find many cheap plans from Aegon Religare, Aviva, Reliance, Max Life, Bharti AXA etc. Most of these (barring Max Life) have claim settlement ratios that are below 90%.<\/p>\n<p>When it comes to claim settlement ratio- Most of the good players in the market like LIC, Max Life, HDFC Life, ICICI Pru, Kotak, Bajaj Allianz etc have claim settlement ratios that are closer to 95%<\/p>\n<p>Combining these two criteria , here is our opinion of the <strong>best term insurance plans<\/strong> in the market:<\/p>\n<p><strong>Max Life Online Term Plan\u00a0<\/strong>&#8211; Currently\u00a0the <strong>Best Term Insurance Plan<\/strong> in India<\/p>\n<ul>\n<ul>\n<li>Not only is it one of the cheapest plans, it scores really well in <a title=\"IRDA Claim Settlement Ratio Life Insurance Companies in India\" href=\"http:\/\/trucompare.in\/trucomparev2b\">IRDA claim settlement ratio<\/a>\u00a0and complaint resolution.<\/li>\n<li>Also Max Life carries a premium brand image in the market. As they were a little late to launch online term plan, they have priced it aggressively when compared to the likes of HDFC Life and SBI Life.<\/li>\n<\/ul>\n<\/ul>\n<p><span style=\"color: #0000ff;\"><strong>HDFC LIFE Click2Protect<\/strong><\/span>&#8211;\u00a0Most consistent when it comes to claim settlement ratios<\/p>\n<ul>\n<ul>\n<li>Although this is not the cheapest policy in the market ( about 20-25% expensive), it\u00a0has maintained high claim settlement ratios for the past several years. You can check the historical claim ratios on <a href=\"http:\/\/www.trucompare.in\/trucomparev2b\">Trucompare.in<\/a><\/li>\n<li>Good brand in the market as it has the HDFC pedigree. Also it has wide branch network in the country.<\/li>\n<\/ul>\n<\/ul>\n<p><strong>Bharti Axa, Aviva, Aegon, Reliance Term Plans\u00a0<\/strong>&#8211;\u00a0Cheapest but not the best<\/p>\n<ul>\n<ul>\n<li>These plans are cheap but their\u00a0<a title=\"IRDA Claim Settlement Ratio Life Insurance Companies in India\" href=\"http:\/\/trucompare.in\/trucomparev2b\">IRDA claim settlement ratio<\/a>\u00a0is below industry average\u00a0and definitely lower than the rest<\/li>\n<li>Most of the claim ratios are in the 80s unlike SBI or LIC or Max Life which are well above 90%.<\/li>\n<\/ul>\n<\/ul>\n<p><strong>LIC,SBI Life, Kotak Life, ICICI\u00a0PrulifeTerm Plans\u00a0<\/strong>&#8211;\u00a0Good claim settlement ratio but not the cheapest<\/p>\n<ul>\n<ul>\n<li>LIC scores very high on claim settlement ratio ( around 97%) but their pricing is double that of something like Max Life. I won&#8217;t recommend spending so much on a term plan! The reason for the same is the fact that LIC&#8217;s bread and butter is single premium and endowment plans which are sold through agents.<\/li>\n<li>SBI Life, Kotak, HDFC Life&#8217;s \u00a0online term plans are about 30-40% expensive than the cheapest plans in the market. Almost all of them have claim settlement ratios that are in excess of 90%.<\/li>\n<li>All these carry good brand image in the market and thats why they try to charge extra for the same.<\/li>\n<\/ul>\n<\/ul>\n<p><span style=\"color: #339966;\"><em>Compare the premiums and online claim ratios ( along with historical trends) at <\/em><a href=\"http:\/\/trucompare.in\"><span style=\"color: #ff6600;\">Trucompare.in<\/span><\/a><\/span><\/p>\n<p><a href=\"http:\/\/trucompare.in\/\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"484\" data-permalink=\"https:\/\/www.trucompare.in\/blog\/what-is-term-insurance\/trucompare_head\/\" data-orig-file=\"https:\/\/i0.wp.com\/www.trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?fit=205%2C21&amp;ssl=1\" data-orig-size=\"205,21\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"TruCompare_head\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/www.trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?fit=205%2C21&amp;ssl=1\" class=\"alignnone size-full wp-image-484\" src=\"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?resize=205%2C21\" alt=\"TruCompare_head\" width=\"205\" height=\"21\" \/><\/a><\/p>\n<p><iframe loading=\"lazy\" src=\"http:\/\/trucompare.in\/form.html\" width=\"500\" height=\"300\" scrolling=\"no\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 Best Term Insurance Plan Please see an updated version of the comparison here-\u00a0IRDA Claim Settlement Ratio for 2015 &#8211; Compare best online term insurance plans As online term plans have gained popularity, almost all the life insurance companies have come up with their online term plans and claims to have the best term insurance &hellip; <a href=\"https:\/\/www.trucompare.in\/blog\/best-term-plans-in-india\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Best Term Insurance Plans in India- A quick comparison<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[],"class_list":["post-641","post","type-post","status-publish","format-standard","hentry","category-term-insurance"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p3wDt5-al","jetpack-related-posts":[{"id":791,"url":"https:\/\/www.trucompare.in\/blog\/online-term-plans-in-2015\/","url_meta":{"origin":641,"position":0},"title":"Top 10 Online Term Insurance Plans in 2015 &#8211; A Detailed Comparison of features and IRDA data","author":"Trucompare","date":"November 21, 2015","format":false,"excerpt":"Compare\u00a0Term Insurance\u00a0Online You have decided to get a term insurance\u00a0cover to ensure your peace of mind and financial security for your family. Since you have already made this decision, we assume that you have conducted a detailed research on what are term insurance plans. If not, then we recommend you\u2026","rel":"","context":"In &quot;Term Insurance&quot;","block_context":{"text":"Term Insurance","link":"https:\/\/www.trucompare.in\/blog\/term-insurance\/"},"img":{"alt_text":"Compare term insurance online","src":"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2016\/01\/Term-Insurance-comparison-eligibility-criteria.png?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2016\/01\/Term-Insurance-comparison-eligibility-criteria.png?resize=350%2C200 1x, https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2016\/01\/Term-Insurance-comparison-eligibility-criteria.png?resize=525%2C300 1.5x"},"classes":[]},{"id":738,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-2015\/","url_meta":{"origin":641,"position":1},"title":"IRDA Claim Settlement Ratio for 2015 &#8211; Compare best online term insurance plans","author":"Trucompare","date":"October 3, 2015","format":false,"excerpt":"IRDA Claim Settlement Ratio for 2015 Update- We have updated the claim settlement ratios of online term insurance plans for 2014-15(based on IRDA annual report)\u00a0 and 2015-16 ( till Dec31, 2015 based on latest data submitted to IRDA by the insurers) on our website. IRDA has just published its annual\u2026","rel":"","context":"In &quot;Term Insurance&quot;","block_context":{"text":"Term Insurance","link":"https:\/\/www.trucompare.in\/blog\/term-insurance\/"},"img":{"alt_text":"TruCompare_head","src":"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":31,"url":"https:\/\/www.trucompare.in\/blog\/best-term-insurance-in-india-2013\/","url_meta":{"origin":641,"position":2},"title":"Term Insurance Comparison &#8211; Which is the Best Term Insurance Plan in India?","author":"Trucompare","date":"September 7, 2013","format":false,"excerpt":"Term Insurance Comparison In earlier posts, we have looked at various criteria that can be used for term insurance comparison. Although it is difficult to say which is the best term insurance plan in India, one can keep the following policies in mind before making a buy decision. HDFC LIFE\u2026","rel":"","context":"In &quot;Term Insurance&quot;","block_context":{"text":"Term Insurance","link":"https:\/\/www.trucompare.in\/blog\/term-insurance\/"},"img":{"alt_text":"TruCompare_head","src":"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592,"url":"https:\/\/www.trucompare.in\/blog\/irda-claim-settlement-ratio-2014\/","url_meta":{"origin":641,"position":3},"title":"IRDA Claim Settlement Ratio 2013-14 &#8211; Compare Term Insurance Plans","author":"Trucompare","date":"March 21, 2015","format":false,"excerpt":"Update- We have updated the claim settlement ratios of insurers for 2014-15 on our website. Compare now to view details. We have written about Max Life claim ratio for 2014-15 here. Following is the statistics for IRDA Claim Settlement Ratio 2013-14 for individual death claims by insurance companies. I have\u2026","rel":"","context":"In &quot;Term Insurance&quot;","block_context":{"text":"Term Insurance","link":"https:\/\/www.trucompare.in\/blog\/term-insurance\/"},"img":{"alt_text":"TruCompare_head","src":"https:\/\/i0.wp.com\/trucompare.in\/blog\/wp-content\/uploads\/2013\/05\/TruCompare_head.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":728,"url":"https:\/\/www.trucompare.in\/blog\/claim-settlement-ratio-for-term-insurance-in-2014-15\/","url_meta":{"origin":641,"position":4},"title":"Claim Settlement Ratio for Term Insurance Companies in 2014-15- Max Life Insurance","author":"Trucompare","date":"October 2, 2015","format":false,"excerpt":"Term Insurance Claim Ratio Although IRDA is yet to publish, the official claim settlement ratios for term insurance companies in 2014-15, we can still get a decent idea about the same from company data. Here is some data for Max Life insurance claim settlement data for 2014-15 (ending March 31,\u2026","rel":"","context":"In &quot;Term Insurance&quot;","block_context":{"text":"Term Insurance","link":"https:\/\/www.trucompare.in\/blog\/term-insurance\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78,"url":"https:\/\/www.trucompare.in\/blog\/product-review-bharti-axa-term-plan\/","url_meta":{"origin":641,"position":5},"title":"Bharti AXA Term Insurance Plan Life eProtect Review by TruCompare","author":"Trucompare","date":"May 6, 2013","format":false,"excerpt":"Company: Bharti AXA Life Insurance Product Name-\u00a0Life eProtect Product features: Minimum sum assured of 25 lakhs Available up to 30 years duration Maximum Age - 70 years Company's pitch: Claim settlement within 48 hours Our view: PLUS- Bharti AXA has lowest premiums in the market when compared to term insurance\u2026","rel":"","context":"In &quot;Bharti AXA&quot;","block_context":{"text":"Bharti AXA","link":"https:\/\/www.trucompare.in\/blog\/bharti-axa\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/posts\/641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/comments?post=641"}],"version-history":[{"count":27,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/posts\/641\/revisions"}],"predecessor-version":[{"id":1195,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/posts\/641\/revisions\/1195"}],"wp:attachment":[{"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/media?parent=641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/categories?post=641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.trucompare.in\/blog\/wp-json\/wp\/v2\/tags?post=641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}