4. Max Life Term Insurance: Max Life Term Insurance is designed to provide a protection solution for your family at an affordable price. It provides the policy term which ranges from 10 to 35 years.

With a life death claim ratio of 93.86 percent, Max Life ranks as the 4th best policy plan. It offers low premium rates for non smokers and female lives. Even it also offers discounts on various related plans to assure higher sum at the end.

5. SBI Life e-Shield Term Insurance: SBI Life is a private life insurer which offers a new online term policy – eSheild. It is a pure protection policy which provides a lump sum amount to your family at your absence.

There are two plan options in this policy - level cover and increasing cover. In level cover the chosen amount assured remains constant throughout the policy tenure, but in increasing cover, SBI Life e-Shield Term Insurance increases at regular intervals.

6. Kotak e-Term/ Preferred Term Insurance: Kotak e-Term Insurance has the highest life death claim settlements ratio of 90 percent and thus is one of the best policies to choose to ensure your family’s secured future.

Kotak e-Preferred Term plan is a pure protection plan which offers a life cover at an affordable premium rate. If a policy holder becomes permanently disabled during the policy tenure, then he/she is liable to get a 100 percent premium waiver.

Read More: SBI Cuts Home Loan Interest Rate By Up To 0.25 Percent

Modi Woos German Investors, Vows Competitive Tax Regime