Get Up to ₹1 Crore Life Cover,
Starting at ₹500/Month

Secure your family’s financial future with affordable term insurance that offers high life cover, flexible options and support when it matters most.

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High life cover at an affordable premium
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Flexible policy terms to suit your needs
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Cover options for different financial goals
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Financial protection for your loved ones
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Helps secure your family’s future
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Get assistance from application to claim.
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Give Your Family Financial Protection

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What is Term Insurance?

Term insurance is the simplest and most affordable way to protect your family for a fixed period.

If you pass away during the policy term, your family receives a large lump sum, known as the death benefit. This money helps them pay daily expenses, clear loans, and continue important goals like children’s education or marriage.

You pay a fixed term insurance premium every month or year for the chosen sum assured (coverage amount). If you outlive the policy term, you usually get nothing back (unless you choose a Return of Premium plan).

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Best Term Insurance Companies in India

Compare leading term insurance companies based on their popular plans, coverage options, claim settlement ratio, and approximate starting premiums to find suitable life cover for your family.

Best Term Insurance Plans in India 2026

Compare and buy India’s best term insurance plans starting at just ₹14/day, with reliable claim support.

Here is a wider list of popular term insurance plans available in 2026

ICICI Life Insurance
ICICI Prudential iProtect Smart Term Insurance

ICICI Life Insurance

Claim Settlement Ratio
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Claim Settlement Ratio*
Sum Assured Range
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Sum Assured
Features
  • Provides financial security to your loved ones in case of your unfortunate demise during the policy term.
  • Offers affordable premiums, making it accessible to a wider range of individuals.
Life Insurance
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HDFC Life
HDFC Life Click 2 Achieve Plan

HDFC Life

Claim Settlement Ratio
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Claim Settlement Ratio*
Sum Assured Range
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Sum Assured
Features
  • Provides a guaranteed income stream during the policy term, offering financial stability and peace of mind for you and your family.
  • Allows you to choose the income payout frequency (monthly, quarterly, half-yearly, or annually) to align with your specific financial needs.
     
Life Insurance
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Aditya Birla Life Insurance
Aditya Birla Sun Life Insurance (ABSLI) Assured Savings Plan

Aditya Birla Life Insurance

Claim Settlement Ratio
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Claim Settlement Ratio*
Sum Assured Range
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Sum Assured
Features
  • Combines savings and life insurance, allowing you to grow your wealth while providing financial protection for your family.
  • Offers flexibility in choosing the premium payment term and sum assured to suit your individual financial needs and goals.
     
Life Insurance
Need Help Choosing the Right Life Insurance Plan?

*Claim Settlement Ratio is approximate, based on the latest available IRDAI data (mostly recent 3-year averages or FY figures). Actual numbers can vary slightly year to year. Always verify the latest figure before buying. Newer insurers may have limited claim history.

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Secure Your Family’s Financial Future with Term Insurance

Get the right life cover for your family with simple online application, trusted guidance, and end-to-end support.

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How Much Term Insurance Coverage Do You Need?

Choosing the right sum assured is the most important decision for your family’s financial safety. Too little cover leaves them short. Too much means you pay an extra premium you may not need. The right term insurance coverage depends on your income, liabilities, family responsibilities, and future financial goals.

Here’s a general guide to help you choose the right cover

₹25 Lakh
Basic Protection
  • Coverage: ₹25 Lakh
  • Category: Basic Protection
  • Suitable For: Young professionals or those with low liabilities
  • Coverage Benefits Generally Covered: Helps manage basic household expenses and provides financial support to the family.
₹50 Lakh
Early-Career Protection
  • Coverage: ₹50 Lakh
  • Category: Early-Career Protection
  • Suitable For: Good starting point for early-career earners
  • Coverage Benefits Generally Covered: Provides a higher financial cushion for household expenses and basic financial responsibilities.
₹1 Crore
Family Financial Protection
  • Coverage: ₹1 Crore
  • Category: Family Financial Protection
  • Suitable For: Most recommended for middle-class families
  • Coverage Benefits Generally Covered: Helps support regular expenses, outstanding liabilities and important future family goals.
₹1.5 Crore
Enhanced Family Protection
  • Coverage: ₹1.5 Crore
  • Category: Enhanced Family Protection
  • Suitable For: Better protection if you have a home loan or young children
  • Coverage Benefits Generally Covered: Helps cover home loan liabilities, children’s future expenses and ongoing family needs.
₹2 Crore
Higher Family Protection
  • Coverage: ₹2 Crore
  • Category: Higher Family Protection
  • Suitable For: Ideal for higher income or larger family responsibilities
  • Coverage Benefits Generally Covered: Provides greater financial support for larger household expenses, liabilities and long-term goals.
₹5 Crore
High-Income Protection
  • Coverage: ₹5 Crore
  • Category: High-Income Protection
  • Suitable For: For high earners or those wanting strong long-term security
  • Coverage Benefits Generally Covered: Offers substantial financial protection to help cover major liabilities and secure long-term family needs.

Types of Term Insurance Plans in India

Term insurance is not one-size-fits-all. Different plans suit different needs. Compare them and choose the one that fits your life stage and family situation.

Here are the most common types available in India and how they help you:

Basic Term Life Insurance

Basic Term Life Insurance

Provides life cover for a specific term; in case of an unfortunate event, the sum assured is paid to your family.

Term Insurance with Return of Premium

Term Insurance with Return of Premium (TROP)

Offers life cover along with the return of all premiums paid if you survive the policy term.

Term Insurance for Housewives

Term Insurance for Housewives

Designed for homemakers who contribute to the family’s well-being, ensuring financial security for their loved ones.

Term Insurance for Self-Employed and Business Owners

Term Insurance for Self-Employed & Business Owners

Provides financial protection and helps secure your family’s future against uncertainties.

Term Insurance for NRIs

Term Insurance for NRIs

Special term plans for Non-Resident Indians to protect their family in India with flexible options.

Term Insurance for Diabetics

Term Insurance for Diabetics

Designed for individuals with diabetes and offers life cover with customised coverage options.

Saral Jeevan Bima

Saral Jeevan Bima (SJB)

A simple and affordable term insurance plan by LIC, specially designed for affordable life protection.

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Top Benefits of Term Insurance

Term insurance gives your family strong financial protection at a very low cost. Here are the key benefits that make it one of the smartest decisions for Indian families:

Financial Protection for Your Family

Financial Protection for Your Family

If something happens to you, your family receives a large lump-sum amount. This helps them pay daily expenses, clear loans, and continue important goals without financial stress.

High Cover at Low Premium

High Cover at Low Premium

You can get ₹1 Crore or more coverage by paying just a few hundred rupees every month. It is one of the most affordable ways to get a large life cover.

Flexible Payout Options

Flexible Payout Options

Your family can choose to receive the money as a one-time lump sum, monthly income, or a mix of both—whichever suits their needs best.

Return Of Premium Option

Return Of Premium Option

Some term plans return all the premiums you paid if you survive the policy term. You get life protection along + your money back.

Additional Riders For Extra Safety

Additional Riders For Extra Safety

You can add critical illness, accidental death, or disability cover at a small extra cost for more complete protection.

Tax Benefits

Tax Benefits

Premiums paid are eligible for tax deductions under Section 80C (up to Rs. 1.5 lakh ). The death benefit received by your family is also tax free.

Long Coverage Period

Long Coverage Period

You can choose cover till age 60,70,80 or even whole life in some plans, matching your family’s long term needs.

Easy To Buy And Claim

Easy To Buy And Claim

Most plans can be bought online in minutes. Claims are settled quickly when all documents are in order.

What is Covered and Not Covered in Term Insurance?

Term insurance pays the full sum assured to your family if you pass away during the policy term due to most common reasons. However, a few situations are not covered. Here’s a clear list:

Death due to natural calamities

Death due to natural calamities

(flood, earthquake, etc.)

Death due to any medical condition or illness

Death due to any medical condition or illness

Death due to accidents

Death due to accidents

(road, workplace, or other)

Death due to COVID-19

Death due to COVID-19

Death due to terminal illness

Death due to terminal illness

(many plans pay early in such cases)

Suicide within the first 12 months of the policy

Suicide within the first 12 months of the policy

Death due to self-inflicted injuries or illegal activities

Death due to self-inflicted injuries or illegal activities

Death while under the influence of drugs or alcohol

Death while under the influence of drugs or alcohol

Death due to undeclared pre-existing illnesses

Death due to undeclared pre-existing illnesses

Death related to pregnancy or childbirth

Death related to pregnancy or childbirth

(in most standard plans)

What is a Term Insurance Rider?

A term insurance rider is an extra benefit you can add to your basic term plan. It gives additional protection for specific situations and costs a small extra premium on top of your regular term insurance premium. You can choose only the riders you need, based on your health, lifestyle and family requirements.

Common Term Insurance Riders and Their Benefits

How to Choose the Right Term Insurance Plan

Choosing the right term insurance plan means balancing your family’s financial needs, coverage amount, policy term and budget.

Secure Your Family's Future
Choose a term insurance plan that offers the right coverage, fits your budget and gives your family peace of mind.
Secure Your Family’s Future Today

Term Insurance Premium Calculator

Estimate your life insurance coverage with our calculator to ensure your family’s financial security in the event of your absence. Take the first step towards determining the amount of coverage you need now.

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Disclaimer

  1. Premium has been calculated for coverage till 60 years
  2. Eligibility depends on income, occupation and educational qualification

What are the Eligibility Criteria to Buy a Term Insurance Plan?

Buying term insurance is simple if you meet a few basic conditions. Here’s a clear view of who can buy and what is required:

  • Age
    • 18 to 65 years (some plans allow entry till 65 and cover up to 85–99 years)
  • Citizenship / Residency
    • Indian citizens and NRIs can buy
  • Minimum Income
    • Usually ₹2–5 lakh per year (needed mainly for higher cover amounts)
  • Smoking / Tobacco
    • Must be declared (affects premium, not eligibility)
  • Other Important Points
    • Medical Examination: A medical test may be required depending on your age, health, lifestyle and the cover amount you choose. Higher covers (₹1 Crore and above) or older applicants usually need medical screening.
    • Pre-existing Diseases: You must declare any existing conditions such as diabetes, BP, heart issues or past surgeries. If declared and accepted by the insurer, the policy remains valid. Hiding information can lead to claim rejection later.
    • Lifestyle Habits: Smoking, tobacco use, alcohol or high-risk activities must be disclosed honestly. Insurers may still offer cover, but the premium can be higher based on the risk.
    • Income & Documents: For higher sum assured, insurers check income proof (salary slips, ITR or bank statements) to confirm that the cover amount matches your earning capacity.
Eligibility Criteria to Buy Term Insurance

What are the Documents Required to Buy a Term Life Insurance Plan

Buying term insurance is quick if you keep these basic documents ready. Most insurers need the following:

Documents Required

  • Identity Proof : Aadhaar Card, PAN Card, Passport, Voter ID
  • Address Proof : Aadhaar Card, Passport, recent electricity/gas/water bill (not older than 2–3 months), property tax receipt
  • Income Proof : Salaried: Last 3 months salary slips + bank statement, Form 16, or last 2 years ITR
    Self-employed: Last 2 years ITR, balance sheet & profit-loss statement (CA certified), Form 26AS
  • Age Proof : Aadhaar, PAN, Passport, Birth Certificate or School Leaving Certificate
  • Medical Reports : Required only if the insurer asks for medical tests based on age, health or high sum assured

Note: Many plans can be bought online with just Aadhaar + PAN and e-KYC. Medical tests and extra documents are needed only in selected cases.

KYC Documents for Different Legal Entities

If the policy is being bought in the name of a company, HUF, partnership firm or trust, additional KYC documents are required:

  • Hindu Undivided Family (HUF) : HUF PAN, HUF Registration Certificate, PAN & KYC of Karta
  • Company : Certificate of Incorporation, MOA/AOA, Company PAN, Board Resolution / Power of Attorney, KYC of authorised signatory
  • Partnership Firm : Partnership Deed, Firm PAN, Registration Certificate (if any), KYC of all partners, consent letter for premium payment
  • Trust / Foundation : Trust Deed, Registration Certificate, PAN of Trust, KYC of trustees
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Get the Right Term Insurance Cover for Your Family

Protect your loved ones with suitable life cover, flexible options and support throughout your insurance journey

Find Your Cover

How to Buy Term Insurance Online from InvestKraft?

Buying term insurance online is quick and simple.

Just follow these easy steps:

1
STEP 01

Visit

Go to the InvestKraft website and select ‘Term Insurance’.

2
STEP 02

Fill Basic Details

Enter your name, gender, mobile number and date of birth.

3
STEP 03

Share More Info

Fill in your smoking habits, education, occupation and annual income. This helps us show the most suitable plans for you.

4
STEP 04

Choose & Pay

Compare the plans, select the one that fits your needs, and proceed to pay securely online.

How to File a Term Insurance Claim with InvestKraft?

At InvestKraft, we provide complete end-to-end claim support so your family gets the money quickly and without hassle. The process is simple and has five clear steps:

1
Report the Claim

Report the Claim

Call us on +91-9797971876 or WhatsApp us on +91-9599071040, or email care@investkraft.com to inform us about the claim. You can also raise the request through the Claims section on the InvestKraft website or app.

2
Share Policy Information

Share Policy Information

Provide basic details such as the policy number, name of the policyholder, date of death and cause of death. If the policy was bought through InvestKraft, we already have most of the records ready to speed up the process.

3
Submit the Required Documents

Submit the Required Documents

Our claims team will guide you on the exact documents needed. You can upload scanned copies online or submit physical documents as per the insurer’s requirement.

4
Insurer Review and Processing

Insurer Review & Processing

We coordinate directly with the insurance company on your behalf. The insurer verifies the documents and, once everything is in order, approves and processes the claim.

5
Claim Settlement

Claim Settlement

After approval, the claim amount is transferred directly to the nominee’s bank account. Our team keeps you updated at every stage and ensures complete transparency.

Documents Required for Term Life Insurance Claim Process

Filing a term insurance claim is straightforward when the required documents are ready. Once the claim is initiated, the nominee or family needs to submit the following documents to help ensure a smooth and faster claim process.

Documents Required for Term Life Insurance Claim Process
  • Fully filled claim form Provided by the insurance company, available online or offline.
  • Original death certificate Issued by the relevant government authority.
  • Original policy document The original term insurance policy document.
  • Medical records Hospital discharge summary, admission notes, medical reports, test results, etc.
  • Post-mortem report Required in applicable cases, as specified by the insurer.
  • Photo ID and address proof of the nominee Aadhaar, PAN, Voter ID, Passport, or other valid documents.
  • Nominee’s cancelled cheque or bank account details Along with the required NEFT mandate form, if applicable.
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Start Protecting Your Family Today

Apply for term insurance with suitable coverage and get support from choosing your plan to completing the application.

Explore Term Plans

Why Choose InvestKraft?

Get trusted guidance, transparent comparisons and end-to-end support to make the right insurance decision with confidence.

  • ✓ Dedicated Relationship Manager: You get a personal Relationship Manager who guides you at every step — from choosing the right plan to completing the purchase and even helping with claim later.
  • ✓ Unbiased Comparison: We show you plans from top insurers side-by-side so you can clearly see premiums, features and claim settlement records before deciding.
  • ✓ Expert Guidance, Not Sales Pressure: Our team helps you understand what cover you actually need. No pushing of unnecessary plans or riders.
  • ✓ Quick & Paperless Process: Buy completely online in a few minutes. Most policies are issued fast with minimum documentation.
  • ✓ End-To-End Support: From buying the policy to claim settlement, we stay with you. Your Relationship Manager remains just a call away whenever you need help.
Why Choose InvestKraft for Term Insurance

See What Our Customers Say About Us!

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4.9 ★★★★★

Frequently Asked Questions (FAQs)

Term insurance is the simplest and purest form of life insurance — you pay a fixed annual premium for a chosen period (the "term"), and if you die during that period, your nominee receives a large lump sum (sum assured) there is no maturity payout if you survive.

Term insurance is a type of life insurance with no savings or investment component — your premium goes entirely toward protection, making it 5–10 times cheaper than endowment or ULIP plans for the same coverage amount.

The guaranteed lump sum amount paid to your nominee if you die during the policy term — it is the core benefit of the policy and should be chosen based on your income, debts, and family's future needs.

Term insurance is pure protection — no maturity benefit, no investment, lowest premium; endowment plans combine insurance and savings; ULIPs combine insurance and market-linked investment — term gives maximum life cover per rupee of premium.

A term plan that covers you until age 99 or 100 — providing lifelong protection beyond retirement; suitable for those who want to leave a legacy or protect dependants with permanent needs.

An ROP plan refunds all premiums paid if you survive the policy term — offers the safety net of getting money back; however, premiums are 2–3x higher than regular term plans for the same sum assured.

A plan where the death benefit grows over time (typically by 5–10% annually) to counter inflation — ensures your family's payout retains purchasing power over a long policy term.

Disclaimer: The information provided on this page is for general informational purposes only and should not be considered insurance, financial, or legal advice. Term insurance coverage, premiums, benefits, exclusions, policy terms, claim conditions, eligibility, and sum assured vary by insurer and policy. Please read the policy wording, terms and conditions carefully before purchasing any term insurance policy. InvestKraft does not guarantee claim approval or settlement, and all claims are subject to the terms and conditions of the respective insurance policy and insurer.

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