InsuranceBolo – Compare Term Life Insurance

Compare Term Life Insurance Within Seconds- 100% Free

Compare 50+ plans from HDFC, LIC, SBI, ICICI, Axis & Kotak. Check claim settlement ratios, premiums, and hidden exclusions — 100% broker-free.

99.1% CSR 50+ Term Plans 100% Unbiased

Estimate Your Term Premium

Age 30

Cover (₹ Lakhs) 50

Policy Term (Years) 25

Estimated Monthly Premium ₹ 380

Why Term Life Insurance?

Term life is the purest form of protection. It offers the highest coverage at the lowest premium — no investment gimmicks, no hidden charges. Just a lump sum payout to your family if something happens to you.

Lowest Premiums
A 30-year-old can get ₹1Cr cover for ~₹600/month.
Tax Benefits
Premiums deductible u/s 80C, death benefit tax-free u/s 10(10D).
Flexible Payouts
Choose lump sum, monthly income, or a combination.
Riders Available
Critical Illness, Accidental Death, Premium Waiver.

📊 Human Life Value (HLV) Quick Check

Example: Amit, 32, earns ₹12 Lakh/annum. Retirement age: 60. Annual expenses: ₹4 Lakh.

HLV = (Annual Income - Personal Expenses) × (Retirement Age - Current Age)
= (12 - 4) × 28 = ₹2.24 Crore

This is the minimum cover Amit should buy to protect his family's lifestyle.

📊 Term Insurance Comparison Matrix

Parameter	HDFC	LIC	SBI	ICICI	Axis	Kotak
Claim Settlement Ratio	99.10%	98.20%	98.69%	98.50%	98.60%	98.30%
Solvency Ratio	2.20x	2.00x	2.11x	2.10x	2.05x	2.02x
Critical Illness Cover	✔	✔	✔	✔	✔	✔
Return of Premium (RoP)	✔	✘	✔	✔	✔	✔
Accidental Death Benefit	✔	✔	✔	✔	✔	✔
Premium (₹1Cr / 25Yrs)	₹6,240	₹5,880	₹5,760	₹6,000	₹6,120	₹5,520

*Premium for a 30-year-old non-smoker male. Actual premiums depend on medical underwriting.

🛡️ Claim Settlement Process & Checklist

Intimation

Call 24x7 or file online. Our team guides your nominee.

Documentation

Submit death certificate, policy bond, and ID proofs.

Verification

Hassle-free verification within 3-7 working days.

Payout

Funds transferred to nominee's account in 7-15 days.

Claim Documents Checklist

Claim Intimation Form
Original Policy Document
Death Certificate (Original)
Nominee's ID & Address Proof
Medical Records (if death due to illness)
FIR / Police Report (accidental death)

Pro Tip: Keep a digital copy of all documents on Google Drive for quick access.

Why InsuranceBolo?

We don't sell policies. We explain them — using real documents, real data, and zero bias.

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Reviewed by industry professionals with 15+ years of experience.

Broker-Free

No middlemen, no commission, no sales calls. Just pure education.

Real Policy Docs

Our guides are written from actual policy wordings, not marketing brochures.

100% Transparent

We disclose claim ratios, exclusions, and hidden costs upfront.

📚 Latest Term Insurance Insights

SBI Term Life Insurance 2026 Update

Detailed comparison of claim ratios, premiums, and features to help you choose the right plan.

HDFC Term Life Insurance

Step-by-step guide to determining exactly how much term cover your family needs.

Axis Max Life Insurance

Understand why pure term plans offer better protection and investment alternatives.

What is Term Life Insurance?

Term life insurance provides coverage for a specific period (10-40 years). If the insured passes away during this term, the beneficiaries receive the sum assured. It's the purest and most affordable form of life insurance.

Can NRIs buy Term Life Insurance in India?

Yes, most insurers like HDFC, LIC, and SBI offer term plans to NRIs. Additional documentation like a valid passport, visa, and work permit may be required.

What is Return of Premium (RoP)?

RoP is a feature where the insurer refunds all the premiums you paid if you survive the policy term. It's more expensive than pure term plans but gives you a "money-back" benefit.

What happens if I stop paying premiums?

After a 30-day grace period (15 days for monthly), the policy lapses. However, most insurers offer a revival period of up to 2 years to reinstate the policy by paying due premiums with interest.

What is the free-look period?

You have 15 days (30 days for online policies) from the date of policy receipt to review the terms. If you're not satisfied, you can cancel and get a refund of premiums paid (minus medical expenses).

What is the Claim Settlement Ratio (CSR)?

CSR is the percentage of claims an insurer pays out. For example, HDFC Life's CSR is 99.10%, meaning it settles 99 out of 100 claims. Always choose a plan with a CSR above 98%.

Can I increase my cover later?

Yes, many insurers offer a "Step-Up" cover option. You can increase your sum assured at specific life events (marriage, childbirth) without additional medical tests, subject to terms.

Is a medical test mandatory?

Not always. For younger applicants (under 40) with lower sum assured, insurers often waive medical tests based on a simple health declaration. Higher ages/cover usually require tests.

How are premiums calculated?

Premiums depend on age, sum assured, policy term, smoking status, medical history, occupation, and chosen riders. Non-smokers get significantly lower rates.

What is the tax benefit of term insurance?

Premiums are deductible under Section 80C (up to ₹1.5 Lakh per year). The death benefit received by nominees is completely tax-free under Section 10(10D).