Compare Term Insurance Plans Online - Find The Best Cover For You

When buying term insurance, most people pick the first plan suggested - often paying more than they should.
The smart way to buy life cover is to compare multiple term plans before choosing. Why? Because premiums, claim ratios, riders, and service quality vary widely between insurers.
With PolicyBachat, you can instantly compare term insurance quotes from 20+ top insurers.
& You’ll see differences in coverage, claim settlement ratios, payout options, and available riders - all in one place.
This guide explains what to compare, how to evaluate the best plan, and how small differences in price or features can make a huge difference in your family's long-term security.

Factors To Compare Before Buying

  • 1 Avoid overpaying for the same coverage.
  • 2 Check insurer reliability (Claim Settlement Ratio above 95%).
  • 3 Choose the right riders for your lifestyle.
  • 4 Customize payout type - lump sum or income.
  • 5 Get peace of mind knowing your family's claim won't be delayed.

Factors To Compare Before Buying

Factor What It Means Why It's Important
Premium Annual cost of coverage Helps balance affordability and coverage.
Sum Assured (SA) Amount your family receives Choose at least 10-15× annual income.
Claim Settlement Ratio (CSR) % of claims approved Indicates insurer reliability.
Add-on Riders Critical Illness, ADB, WOP, etc. Boosts coverage for real-world risks.
Policy Term Duration of coverage Align with your retirement or major goals.
Payout Options Lump sum, monthly income, or combo Helps manage family's cash flow.
Premium Payment Option Monthly, annual, or limited pay Offers flexibility for budgeting.
Customer Support & Reviews Service quality Ensures smooth claim and support experience.

Sample Premium Comparison

Age Sum Assured Plan Premium (₹/yr) Claim Ratio
25, Non-Smoker ₹1 Cr Max Life ₹8,500 98%
30, Non-Smoker ₹1 Cr HDFC Life ₹9,200 99%
35, Smoker ₹1 Cr ICICI Prudential ₹14,500 97%
40, Non-Smoker ₹1 Cr Tata AIA ₹18,700 98%

Premium Savings - Why It Matters

A 30-year-old non-smoker can save up to ₹4,000/year simply by comparing premiums from the top insurers. Over a standard 30-year policy term, that's a total savings of ₹1.2 lakh - without reducing coverage or benefits.

Top Riders To Compare

  • tick Critical Illness Rider: Covers major diseases like cancer or heart attack.
  • tick Accidental Death Benefit (ADB): Pays extra if death is accident-related.
  • tick Waiver of Premium (WOP): Keeps policy active if you can't pay due to disability or illness.
  • tickIncome Benefit Rider: Ensures monthly income to your family post-claim.

Payout Types To Consider

Option Description Ideal For
Lump Sum One-time payout to nominee Families confident in managing funds
Monthly Income Fixed income every month Dependents needing steady cash flow
Combo Mix of lump sum + monthly Balanced solution for all families

Local Insights

  • tick Most compared insurers: Max Life, HDFC Life, ICICI Prudential.
  • tick Average premium (₹1 Cr, age 30 non-smoker): ₹9,500.
  • tick Top 3 add-ons: CI, ADB, WOP.
  • tick % of users buying online vs offline: 78% online.

How PolicyBachat Helps You Compare Better

  • tick Real-time comparison across 20+ insurers.
  • tick Filters for riders, payout type, and premium range.
  • tick Transparent claim settlement ratios and benefits.
  • tick Free human advisor call if you need help finalizing.
  • tick Instant online purchase with digital policy issuance.

How To Compare And Buy

  • 1 Visit PolicyBachat.com → Choose "Term Insurance."
  • 2 Enter basic details: age, city, income, tobacco use.
  • 3 Select cover (₹1,00,00,000) and term (30 years).
  • 4 Compare premiums and claim ratios across insurers.
  • 5 Pick the best plan, add riders, pay online, and get your policy instantly.

Frequently Asked Questions

Because every insurer prices risk differently. Comparison ensures the best coverage at the lowest price with a high claim ratio.

Always look at both. Pick a plan that balances an affordable premium with a CSR above 95%.

Yes. PolicyBachat uses live insurer APIs, so quotes, riders, and medical eligibility are accurate.

Yes - online term plans are 10-30% cheaper because there’s no agent commission.

Based on IRDAI’s latest data, Max Life, HDFC Life, and ICICI Prudential lead with >98% CSR.

Yes. You can select or remove riders during checkout to see instant price impact.

No, comparing quotes online doesn’t impact your financial records.

If your family prefers stability, choose monthly income. If they can handle finances, lump sum works better.

Yes, but disclose honestly. You’ll pay ~30% higher premium, but claims won’t be denied for nondisclosure.

Only if your coverage is high or you have health concerns. Comparing helps you find insurers with tele-medical options.

You can switch anytime by buying a new policy. There’s no lock-in for term insurance.

Yes. PolicyBachat allows comparison of Joint Term Plans, ideal for spouses with shared loans or dependents.

Yes, NRIs can compare and buy Indian term plans with video KYC and digital documentation.

Yes, all IRDAI-approved insurers cover you globally (for Indian citizens and NRIs).

Less than 60 seconds - enter details, view quotes, and finalize in one dashboard.

Customer Reviews

“Compared 6 plans and saved ₹3,000 annually - super smooth.”

Rahul Menon, Chennai

“Found the claim ratio chart really helpful.”

Priyanka Sethi, Delhi

“Easy filters for riders and payout - best experience online.”

Mohit Gaur, Bengaluru

“Finally understood differences between insurers - all in one page.”

Divya Shankar, Pune

“Transparent, fast, and clear - bought within 10 minutes.”

Harpreet Singh, Chandigarh

“This comparison saved me more than I expected.”

Tanya Dutta, Kolkata

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