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When it comes to securing your family’s future, having the right financial safety net is important. Term insurance, especially for 25 Lakhs, offers an effective solution at affordable premium rates. 25 Lakh term insurance plan offers a life cover of Rs. 25 Lakh. In case of an unfortunate death of the policyholder during the policy term, a death benefit will be paid to the nominee. Read on to know more about the 25 Lakh term insurance premium rates:
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A 25 Lakh term insurance is a term insurance plan that offers a life cover of 25 Lakhs to the policyholder for a limited term. The life cover amount is paid to the family of the policyholder in the event of the policyholder’s untimely death during the policy term. Several insurance companies offer affordable 25 Lakh term insurance premiums, which can be purchased online in an easy and hassle-free manner. Let us take a look at some of the 25 Lakh term insurance plans in India.
Term Plans
Here is a list of the 25 lakh term insurance plans available in India 2024:
| Name of the Insurer | 25 Lakh Term Insurance Plans in India 2024 | Claim Settled Amount (cr) | Entry Age | Maximum Maturity Age | |
| Aditya Birla Sun Life Insurance Company Limited | ABSLI Income Suraksha Plan | 458 | 21-55 years | 70 years | |
| Aviva Life Insurance Company India Limited | Aviva Signature 3D Term Plan | 98 | 18-65 years | 80 years | |
| Bajaj Allianz Life Insurance Company Limited | Bajaj Allianz eTouch | 603 | 18-55 years | 99 years | |
| Bandhan Life Insurance Limited | Bandhan Life iTerm Prime | 86 | 18-65 years | 70 years | |
| Bharti Axa Life Insurance Company Limited | Flexi Term Pro | 148 | 18-65 years | 99 years | |
| Canara HSBC Life Insurance Company Limited | Canara Young Term Plan | 186 | 18-45 years | 99 years | |
| Edelweiss Life Insurance Company Limited | Edelweiss Life Zindagi Plus | 59 | 18-65 years | 80 years | |
| Future Generali India Life Insurance Company Limited | Future Generali India Term Insurance Plan | 33 | 18-60 years | 65 years | |
| HDFC Life Insurance Company Limited | HDFC Click 2 Protect Super | 1,389 | 18-65 years | 85 years | |
| ICICI Prudential Life Insurance Company Limited | ICICI iProtect Smart | 1,950 | 18-65 years | 99 years | |
| IndiaFirst Life Insurance Company Limited | IndiaFirst Life Elite Term Plan | 160 | 18-60 years | 99 years | |
| Kotak Mahindra Life Insurance Company Limited | Kotak e Term | 321 | 18-65 years | 85 years | |
| Life Insurance Corporation of India | LIC New Tech Term Plan | 18,398 | 18-65 years | 80 years | |
| Axis Max Life Insurance Company Limited | Max Life Smart Total Elite Protection | 1,242 | 18-65 years | 85 years | |
| PNB MetLife India Insurance Company Limited | PNB MetLife Mera Term Plan Plus | 407 | 18-50 years | 80 years | |
| Pramerica Life Insurance Company Limited | Pramerica Life Rock Solid Plan | 30 | 18-65 years | 85 years | |
| SBI Life Insurance Company Limited | SBI eShield Next Plan | 1,676 | 18-65 years | 100 years | |
| Shriram Life Insurance Company Limited | Shriram Life Smart Protection Plan | 109 | 18-65 years | 75 years | |
| Star Union DAI-ICHI Life Insurance Company Limited | SUD Life Protect Shield Plus | 113 | 18-60 years | 80 years | |
| Tata AIA Life Insurance Company Limited | Tata AIA Sampoorna Raksha Promise | 776 | 18-65 years | 100 years |
*Disclaimer: The list of insurers mentioned are arranged according to the alphabetical order of the name of insurance company respectively. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
*You can use the term insurance premium calculator to estimate the 25 lakh term insurance premium you would need to pay for the desired plan.
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Let us understand this with an example:
If Karan, an 18 year old, non smoking individual, purchased a 25 lakh term insurance at the age of 18 years for a policy term of 30 years, the premiums he would need to pay would start from Rs. 253 per month. If he suffered an unfortunate death during the policy term, his family will be able to claim the 25 lakh term death benefit and will be able to lead a life without financial stress.
| Key Features | Benefits Offered |
| Death Benefits | Fixed amount paid to the nominee in case of the untimely demise of the policyholder |
| Maturity Benefits | Available under Return of Premium option only |
| Tax Benefits | Available u/s 80C and 10D of the Income Tax Act |
| Riders Benefits | Rider benefits vary from policy to policy, but the general benefits are:
|
| Coverage Against Various Liabilities of Term Insurance | Mortgage, Loans, and other types of debts are generally covered in most of the term policies |
| Buying Process | Online and Offline |
| Claim Assistance | Available |
| Premium Payment Frequency in Term Life Insurance | Annually, Quarterly, Half-Yearly, Monthly, Single |
| Payout Options of Term Plan | One Time Lump-Sum Plus Fixed Monthly Payouts, One Time Payout, One Time Lump Sum Payment Plus Increasing Monthly Payouts, and Fixed Monthly Payouts |
| Financial Protection | Protects the family financially in case of the untimely demise of the policyholder |
| Low Premiums | Large cover at affordable prices. One of the easiest policies with low premiums in the market |
The 25 Lakh term insurance premium amount depends on the various premium payment options. There are three premium payout options available under 25 Lakh term insurance plans:
In this, assured is required to pay premiums periodically for the complete policy period. Premiums can be paid Yearly, Half-yearly, quarterly, or Monthly.
A policyholder can make recurring payments for a fixed decided time. The premium payment term is less than the policy term under the limited pay option.
This option allows the life assured to pay the complete premium at once during policy purchase.
Here is a list of points to keep in mind while choosing the 25 Lakh term insurance premium plan:
Assess Your Needs: Evaluate your family’s financial requirements, considering debts, finances, and long-term goals to determine the coverage amount required.
Compare and Research: Look for reputable insurance companies offering 25 Lakh term plans. Compare premium rates, policy terms, and additional benefits to make an informed choice.
Claim Settlement Ratio (CSR): The IRDAI releases its CSR values for all insurers for every financial year. You can compare the term insurance claim settlement ratio of insurers to find the most reliable insurance company. It is suggested that you always opt for a company with a minimum of 95% CSR, as it indicates that the company is capable of settling your family’s potential claims in the future.
Available Riders: Adding available riders to the base term plan can increase the 25 lakh term insurance premium rate. This is because the available riders can be added for a comprehensive cover in exchange for nominal premiums, which are paid in addition to the base premiums.
*Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product by an insurer or any other financial product.
Here is how you can buy 25 lakh term insurance plans in India online:
Step 1: Visit Policybazaar’s website and click on the ‘Term Insurance’ Button
Step 2: Fill in your name, DOB, gender, and contact information
Step 3: Enter your occupation type, annual income, educational qualifications, and smoking habits
Step 4: Select the most suitable 25 Lakh term insurance plan and proceed to pay
Term insurance is a pure risk protection plan and is one of the types that offers wide coverage and benefits. There are many term insurance plans available in India, but it is up to the individual what suits them and their family. It is important to analyse all the details and documents carefully before purchasing.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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