A ₹1 crore term insurance policy should be chosen based on claim settlement ratio, insurer reputation, policy features, rider options, and premium affordability—not just the cheapest premium.
| Rank | Insurance Plan | Insurer | Claim Settlement Ratio* | Best For | Approx. Premium** |
|---|---|---|---|---|---|
| 1 | Axis Max Life Smart Term Plan Plus | Axis Max Life Insurance | 99.6%+ | Overall Best | ₹500–₹650/month |
| 2 | HDFC Life Click 2 Protect Supreme Plus | HDFC Life | 99.5%+ | Families & Home Loan Borrowers | ₹520–₹700/month |
| 3 | ICICI Prudential iProtect Smart Plus | ICICI Prudential Life Insurance | 98%+ | Salaried Professionals | ₹530–₹750/month |
| 4 | Tata AIA Sampoorna Raksha Promise | Tata AIA Life Insurance | 99.4%+ | Low Premium + Strong Brand | ₹500–₹650/month |
| 5 | Bajaj Allianz eTouch II / Smart Protect | Bajaj Allianz Life Insurance | 99%+ | Budget Buyers | ₹500–₹650/month |
| 6 | SBI Life eShield Next | SBI Life Insurance | 97%+ | SBI Customers | ₹490–₹650/month |
* Recent reported claim-settlement figures vary by financial year.
** Premiums vary by age, health, smoking status, and policy term.
Feature Comparison
| Feature | Max Life | HDFC Life | ICICI Pru | Tata AIA |
|---|---|---|---|---|
| Zero Cost Exit | ✅ | ✅ | ❌ | ❌ |
| Life Stage Benefit | ✅ | ✅ | ❌ | ✅ |
| Critical Illness Rider | ✅ | ✅ | ✅ | ✅ |
| Spouse Cover | ✅ | ✅ | Limited | Limited |
| Return of Premium Option | ✅ | Available | Available | ✅ |
| Terminal Illness Benefit | ✅ | ✅ | ✅ | ✅ |
Recommended by Age
| Age | Suggested Plan |
|---|---|
| 20–30 Years | Axis Max Life Smart Term Plan Plus |
| 30–40 Years | HDFC Life Click 2 Protect Supreme Plus |
| 40–50 Years | ICICI Pru iProtect Smart Plus |
| Budget-Focused | Tata AIA Sampoorna Raksha |
| SBI Customers | SBI Life eShield Next |
Top 3 Picks
🥇 Axis Max Life Smart Term Plan Plus – Best overall mix of claim record, features, and flexibility.
🥈 HDFC Life Click 2 Protect Supreme Plus – Excellent family-oriented features and strong claim history.
🥉 Tata AIA Sampoorna Raksha Promise – Competitive premiums with strong claim performance.
For a healthy 25–35 year old non-smoker seeking ₹1 crore cover, Axis Max Life Smart Term Plan Plus or HDFC Life Click 2 Protect Supreme Plus are generally the strongest choices
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