Insurance
Which plan to buy, how much cover you need, what it costs with the full fee structure, and which insurers to consider.
Estimated yearly premium
₹15,675
Typical range ₹12,540 – ₹19,594 · about ₹1,306 a month
Fee structure
Base premium₹15,675
GST (0%) · individual health and life policies are GST-exempt₹0
Total yearly premium₹15,675
Estimated from typical market premiums for this profile. Each insurer prices differently and medical tests can change the premium: get quotes for an exact figure.
What to buy
- Plan typePure term plan (no maturity benefit): the cheapest way to buy large life cover
- Recommended cover₹1.5 crore (15× income)
- Cover till age60 (keep cover until your loans end and dependants are settled)
- Riders worth addingAccidental death benefit, critical illness, waiver of premium on disability
- Look forHigh claim settlement ratio (individual death claims) and a large number of claims settled; buy directly from the insurer's website to avoid commission
Insurers for term life insurance
| Insurer | Claim settlement ratio | Complaints / 10,000 claims | Solvency | Figures for | |
|---|---|---|---|---|---|
| Aditya Birla Sun Life Insurance | — | — | — | — | Get a quote › |
| Ageas Federal Life | — | — | — | — | Get a quote › |
| Aviva Life | — | — | — | — | Get a quote › |
| Axis Max Life | — | — | — | — | Get a quote › |
| Bajaj Allianz Life | — | — | — | — | Get a quote › |
| Bandhan Life | — | — | — | — | Get a quote › |
| Canara HSBC Life | — | — | — | — | Get a quote › |
| Edelweiss Life | — | — | — | — | Get a quote › |
| Future Generali India Life | — | — | — | — | Get a quote › |
| HDFC Life | — | — | — | — | Get a quote › |
| ICICI Prudential Life | — | — | — | — | Get a quote › |
| IndiaFirst Life | — | — | — | — | Get a quote › |
| Kotak Life | — | — | — | — | Get a quote › |
| Life Insurance Corporation of India (LIC) · PSU | — | — | — | — | Get a quote › |
| PNB MetLife | — | — | — | — | Get a quote › |
| Pramerica Life | — | — | — | — | Get a quote › |
| SBI Life | — | — | — | — | Get a quote › |
| Shriram Life | — | — | — | — | Get a quote › |
| Star Union Dai-ichi Life | — | — | — | — | Get a quote › |
| Tata AIA Life | — | — | — | — | Get a quote › |
Insurer figures from the IRDAI annual report have not been entered yet, so insurers are listed alphabetically.