Buy Term Insurance Online | ₹25,00,000 Cover | Compare & Save

Q: Which is better — limited pay or regular pay option?

o Limited Pay: Higher annual premium but finished in fewer years. o Regular Pay: Lower annual premium, spread over policy term. Choose based on your cash flow and long-term income stability.

Protect your family’s future with a high-cover, low-premium term plan. You can get ₹1,00,00,000 coverage starting around ₹9,600 (age 30, non-smoker) with flexible payout options and essential riders.
PolicyBachat helps you calculate the right sum assured, compare top insurers by claim settlement ratio, add riders like Critical Illness and Accidental Death, and buy fully online with minimal paperwork.

Why Buy Term

Large cover for a fraction of your salary
Choose lump sum or monthly income payouts for family
Rider boosts for accident/illness protection
Tax benefits under 80C/10(10D)

How Much Cover

10-15× annual income + all outstanding loans
Add kids’ education/marriage goals
Choose term that covers you till retirement + 5-10 years
Consider whole-life (to 99) if you want legacy protection

Premium Snapshots

Profile	SA	Term	Premium/yr (₹)	Notes
25, Non-smoker	₹1 Cr	35 yrs	₹8,200	Cheapest bracket
30, Non-smoker	₹1 Cr	30 yrs	₹9,600	Most common
35, Smoker	₹1 Cr	30 yrs	₹14,800	Smoker load applies
40, Non-smoker	₹1 Cr	20 yrs	₹18,900	Higher age, higher premium

Riders

Critical Illness (CI): Lump sum on listed illnesses.
Accidental Death Benefit (ADB): Extra payout on accidental death.
Waiver of Premium (WOP): Future premiums waived on disability/CI.
Income Benefit: Monthly income to nominee for 60 months.

Payout Options

Lump Sum (one-time)
Monthly Income (₹8,333/month for 60 months)
Combo (e.g., 50% lump + income)

Eligibility & Docs

Age: 18-65; SA up to ₹2,00,00,000
KYC (PAN/Aadhaar), address, income proof (ITR/salary slips), medicals as required

How To Buy

1 Enter age, income, city details
2 Choose cover (₹1,00,00,000) & term (10-40 yrs)
3 Add riders (CI/ADB/WOP)
4 Pay & schedule medical (if needed)
5 Get e-policy instantly after approval

Frequently Asked Questions

Why should I compare term insurance plans before buying?

Because premiums, claim settlement ratios, riders, and service quality vary widely. Comparing ensures you get maximum cover, best claim record, and lowest premium for your profile.

What’s the most important factor to compare - premium or claim ratio?

Both matter. Always balance claim settlement ratio (above 95%) with a competitive premium. The cheapest plan isn’t necessarily the most reliable.

How is claim settlement ratio (CSR) calculated?

CSR = (Total claims settled ÷ Total claims received) × 100.
It shows how likely your insurer is to honor a valid claim.

Do online plans offer better prices than offline ones?

Yes. Online plans are 10-30% cheaper because there are no middlemen or commission costs. The coverage and benefits remain identical.

Can I compare policies with different terms and sums assured?

Absolutely. PolicyBachat lets you customize term, sum assured, and riders to see how each combination affects your premium instantly.

Does comparing affect my credit or insurance score?

No. It’s purely informational. Comparing plans online has no impact on your financial record or eligibility.

Which is better - limited pay or regular pay option?

• Limited Pay: Higher annual premium but finished in fewer years.
• Regular Pay: Lower annual premium, spread over policy term.
Choose based on your cash flow and long-term income stability.

Do all insurers offer the same riders?

No. Riders differ by insurer. Some offer Critical Illness + ADB, while others include Waiver of Premium or Income Benefit. Always compare rider options carefully.

Can I compare policies for smokers and non-smokers?

Yes. Enter your tobacco use honestly - premiums differ significantly. A non-smoker pays up to 40% less for the same cover.

Can I buy joint term insurance for my spouse?

Yes, many insurers offer Joint Life Term Plans, ideal for couples. It covers both under one policy with separate or shared payouts.

Do all plans require medical tests?

Most do for large covers (₹50 lakh+). Comparing helps you see which insurers allow tele-medicals or simplified health declarations.

What happens if I choose the wrong insurer?

You can switch during renewal or buy a new plan anytime. There are no penalties for switching; just ensure your new plan is active before canceling the old one.

Can I compare term plans without entering personal details?

You can view sample quotes, but for accurate pricing and eligibility, age, gender, and city are required inputs.

Which insurer has the best claim ratio for term insurance?

Based on IRDAI data, companies like HDFC Life, ICICI Prudential, Max Life, and Tata AIA consistently show >95% claim ratios.

Does comparing term plans online ensure faster approval?

Yes. Once you choose and apply through PolicyBachat, your data flows directly to the insurer - ensuring faster underwriting and policy issuance.

Customer Reviews

“Seamless online process; best quote in 5 minutes.”

Aditya Kulkarni, Pune

“Clear advice on riders—took CI + WOP.”

Meera D’Souza, Bengaluru

“Got ₹1 Cr cover at a price I didn’t expect.”

Kunal Chopra, Delhi

“Loved the income payout option for my family.”

Farida Sheikh, Ahmedabad

“Medical scheduled next day, policy issued fast.”

S. Prathap, Chennai

“Transparency on claim ratios helped me choose.”

Nivedita Roy, Kolkata

Buy Term Insurance Online | ₹25,00,000 Cover | Compare & Save | Policybachat