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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.
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).
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.
- Aditya Birla Sun Life Insurance (ABSLI) Assured Savings Plan
- Aditya Birla Sun Life Insurance (ABSLI) Guaranteed Milestone Plan
- Aditya Birla Sun Life Insurance (ABSLI) Nishchit Ayush Plan
- Aditya Birla Sun Life Insurance (ABSLI) Fixed Maturity Plan
- Aditya Birla Sun Life Insurance (ABSLI) Assured Income Plus
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
- 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.
HDFC Life
- 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.
Aditya Birla Life Insurance
- 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.
*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.
Get the right life cover for your family with simple online application, trusted guidance, and end-to-end support.
Apply for Term Insurance NowHow 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
- 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
- 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
- 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
- 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
- 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
- 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
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 (TROP)
Offers life cover along with the return of all premiums paid if you survive the policy term.
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 & Business Owners
Provides financial protection and helps secure your family’s future against uncertainties.
Term Insurance for NRIs
Special term plans for Non-Resident Indians to protect their family in India with flexible options.
Term Insurance for Diabetics
Designed for individuals with diabetes and offers life cover with customised coverage options.
Saral Jeevan Bima (SJB)
A simple and affordable term insurance plan by LIC, specially designed for affordable life protection.
Get the right term insurance cover with a simple application process and dedicated support from start to finish.
Apply NowTop 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
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
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
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
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
You can add critical illness, accidental death, or disability cover at a small extra cost for more complete protection.
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
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
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
(flood, earthquake, etc.)
Death due to any medical condition or illness
Death due to accidents
(road, workplace, or other)
Death due to COVID-19
Death due to terminal illness
(many plans pay early in such cases)
Suicide within the first 12 months of the policy
Death due to self-inflicted injuries or illegal activities
Death while under the influence of drugs or alcohol
Death due to undeclared pre-existing illnesses
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
Accidental Death Benefit
Provides an extra payout if death happens due to an accident. This helps the family receive a higher amount in case of sudden accidental death.
Critical Illness Rider
Provides a lump-sum amount on the diagnosis of serious illnesses like cancer, heart attack or stroke. It helps cover high medical expenses and loss of income.
Permanent Disability Rider
Provides a payout or waiver of future premiums if you become permanently disabled. This helps protect family income if you can no longer work.
Waiver of Premium Rider
Future premiums are waived if you face disability or critical illness. The policy continues without you having to pay further premiums.
Accidental Disability Rider
Provides cover for permanent or temporary disability caused by an accident. It offers financial support during the recovery period.
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.
Assess Your Financial Needs
Consider your current income, expenses, outstanding loans, family responsibilities and future financial goals.
Calculate the Right Sum Assured
Choose a cover that can help your family manage daily expenses, liabilities and important financial goals in your absence.
Select the Ideal Policy Tenure
Choose a policy term that provides protection through your major earning years and important family responsibilities.
Compare Premiums and Features
Compare premiums, coverage, payout options, riders and other benefits offered by different term insurance plans.
Check the Insurer’s Credibility
Consider the insurer’s claim settlement record, financial standing, customer service and overall reputation before choosing a plan.
Read the Policy Terms Carefully
Understand the exclusions, eligibility conditions, premium payment terms, claim conditions and other policy details before buying.
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.
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
Protect your loved ones with suitable life cover, flexible options and support throughout your insurance journey
How to Buy Term Insurance Online from InvestKraft?
Buying term insurance online is quick and simple.
Just follow these easy steps:
Visit
Go to the InvestKraft website and select ‘Term Insurance’.
Fill Basic Details
Enter your name, gender, mobile number and date of birth.
Share More Info
Fill in your smoking habits, education, occupation and annual income. This helps us show the most suitable plans for you.
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:
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.
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.
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.
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.
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.
- 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.
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 PlansWhy 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.
See What Our Customers Say About Us!
Satyawan Rathi
me and my wife decided to get term life insurance after thinking seriously about out family future and I found Investkraft very helpful policies were simple and easy to understand I feel happy knowing we have taken a step toward securing our financial future together
Rakesh Kumar
Great experience buying health insurance for my parents. I didn't have time to visit multiple bank websites. InvestKraft showed me comparisons from top insurers on one screen. The support guy didn't force me to buy the most expensive plan, which I really appreciate. Got the policy document on WhatsApp instantly.
Mohit gaur
Investkraft from comparing different insurance options to completing the policy process, everything was handled so professionally. The team was very helpful with the procedure. I feel confident having my car insurance managed through Investkraft. Great service and support.
Dhiral Infosage
InvestKraft made buying health insurance so effortless. Their team patiently helped me compare different plans and choose the best policy that fits my family's needs and budget. Excellent customer support and a very smooth experience.
Himanshi Sharma
I wanted health insurance for my parents but I was confused with so many plans and Investkraft helped me compare options in simple words and finally got the plan acc to my budget. Happy with the support
Neeraj navariya
The insurance process took longer than expected and I had to follow up multiple times. The team was supportive, but the process was a bit slow.
Frequently Asked Questions (FAQs)
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.
