Choosing the best term insurance plan in Bengaluru can be a bit confusing because there are so many options. A good term plan should offer affordable premiums, strong life cover, and flexible features that fit your family’s needs. Whether you work in Electronic City, run a small business in Koramangala, or live with your family in Whitefield, term insurance helps you secure their future. To make that easier, many top life insurance companies in Bengaluru offer term plans designed for local residents that match your lifestyle and budget.
Life Cover Starting @ just ₹18/day*
Change Your Policy Term
As per your life stage and commitments
Hassle-Free Claim Settlement
99.38% Claim settlement ratio*
Smart Income Tax Savings
Save up to ₹54,600* on your taxes
Best Term Life Insurance in Bengaluru
Bengaluru, the tech capital of India, is home to fast-growing IT/ITES hubs and startups across areas like Electronic City, Whitefield, Koramangala, Indiranagar, HSR Layout, Sarjapur Road, and Hebbal. With rising living costs, home rentals/EMIs, and education expenses, families settling near Manyata Tech Park, ORR, and Whitefield are prioritising financial planning more than ever.
At the same time, Bengaluru residents face unique lifestyle and financial risks that make term insurance essential. Here are key factors and how term insurance helps:
| Risk Factor | Details | How Term Insurance Helps |
| Road Safety & Accident Rates | Big-city traffic, long commutes across ORR/Whitefield/E-City increase exposure to road incidents. As per ACKO Accident Index 2024, 45% of pothole accidents in India are from Bengaluru. | Provides financial protection for families in case of accidental death. Plus, when you add an Accidental Death Benefit Rider, you get extra cover. |
| Healthcare Costs | Critical illness treatments can cost several lakhs in Bengaluru and medical inflation rises annually. | A term insurance policy with a critical illness rider can help manage large medical expenses so finances don’t add to the stress. |
| Economic Fluctuations | Job shifts in IT/ITES and startup cycles can affect income stability. | If the earning member passes away, the lump sum payout can help families continue day-to-day life and long-term goals. |
| Mental Health Issues | Major cities recorded over 9,000 suicide attempts in 2021, highlighting growing mental health concerns. | Supports families during emotional crises by easing financial burdens in case of a sudden loss. |
| Life Expectancy | Life expectancy in India averages 70 years, varying by region. | Provides financial security for families in in case of an untimely death, protecting them from unexpected financial difficulties. |
While choosing the best term insurance in Bengaluru, residents should compare various policies on the basis of coverage, premium affordability, and claim settlement ratios. Remember, not all term insurance policies are equal. So, here's what to look for when comparing plans:
How much protection does your family need? The sum assured is the amount your family will receive in case of your untimely demise. It should be sufficient to cover daily expenses, outstanding loans, children’s education, and future financial objectives. Experts advise selecting a coverage value at least 15-20 times your yearly income.
Although greater coverage offers better protection, you must select a premium you can afford. Compare affordable term insurance plans to get the best value for your money without compromising the coverage your family needs.
A high claim settlement ratio (CSR) indicates that the insurer has a good track record of paying claims. Choose an insurance company with a CSR of 95% or higher to ensure your family can claim benefits without any difficulty.
Most insurers provide riders (add-ons) that increase your policy coverage. Some of the most common term insurance riders include Critical Illness Rider, Accidental Death Benefit, Waiver of Premium Rider, and Disability Income Rider.
Term plans provide coverage for a certain number of years (e.g., 10, 20, or 30), allowing you to choose the right policy term based on your needs. Additionally, many insurers offer flexibility to adjust coverage as your financial needs change. This means you can increase coverage whenever you need to or during big life events.
ACKO’s unique term insurance, the ACKO Life Flexi Term Plan, offers useful features to help keep your family financially secure with the coverage you choose.
ACKO offers a range of term insurance coverage options so you can choose the right plan for your family’s needs and budget. Whether you want a 50 Lakh Term Insurance Plan, a 1 Crore Term Insurance Plan, or even a 15 Crore Term Insurance Plan, ACKO provides flexible options to match every stage of life.
Watch this video to understand how the ACKO Life Flexi Term Plan works. It shows how you can easily adjust your term insurance coverage, add riders, and manage your policy online without any paperwork.
Watch this video to understand how the ACKO Life Flexi Term Plan adapts to your changing needs.
Choosing the right term insurance coverage as a resident of Bengaluru is crucial to ensure your family’s financial stability in your absence. Below are 12 coverage options designed to suit different life stages, income levels, financial goals, and responsibilities:
| Coverage Level | Recommended For | Typical Monthly Premium Range |
| ₹50 Lakh | Single individuals, early career | ₹500-₹1,000 |
| ₹75 Lakh | Young married couples | ₹700-₹1,400 |
| ₹1 Crore | Families with children, home loans | ₹900-₹1,800 |
| ₹1.5 Crore | Families with higher education goals | ₹1,300-₹2,600 |
| ₹1.75 Crore | Families with multiple dependents | ₹1,500-₹3,000 |
| ₹2 Crore | High-income professionals | ₹1,800-₹3,600 |
| ₹3 Crore | Business owners, high-income earners | ₹2,700-₹5,400 |
| ₹5 Crore | High-net-worth individuals | ₹4,500-₹9,000 |
| ₹7 Crore | High-net-worth individuals with multiple assets | ₹6,300-₹12,600 |
| ₹10 Crore | Ultra-high net-worth individuals | ₹9,000-₹18,000 |
| ₹12 Crore | Ultra-high net-worth individuals with multiple dependents | ₹10,800-₹21,600 |
| ₹15 Crore | Ultra-high net-worth individuals with complex estates | ₹13,500-₹27,000 |
Whether you are a salaried IT professional in Hinjewadi, a business owner in Shivajinagar, or a high-net-worth individual in Koregaon Park, ACKO’s term insurance is designed to fit your lifestyle and budget. Read more about:
Use the ACKO Term Insurance Calculator to get instant premium estimates and choose the right coverage for your needs. It’s free, online, and paperless, so you can plan anytime.
Here are 5 reasons to use the ACKO Term Insurance Calculator:
Use the ACKO Term Insurance Calculator
ACKO provides several ways for residents of Bengaluru to connect regarding term insurance queries.
Residents of Bengaluru can easily buy term insurance from ACKO. The process is as follows:
Let’s explore some of the top reasons to buy term insurance and how it can benefit you and your family.
A key benefit of a term insurance policy is its ability to replace lost income in the event of an unforeseen circumstance. This will assist your family in meeting daily expenses, clearing outstanding debt, and covering long-term objectives.
Term insurance offers extensive coverage at much lower premiums as compared to other life insurance policies. Therefore, it is a cost-effective way of securing your family's future without adding extra stress.
With term insurance, you can have tax deductions up to ₹1.5 lakhs under Section 80C on premiums paid. The money received by your loved ones is generally exempt from tax under Section 10(10D).
One of the most significant advantages of term insurance is the peace of mind that it brings. You can live life with the assurance that your family's financial security is assured no matter what.
Get affordable term life insurance in Bengaluru with these smart strategies:
| Strategy | How It Helps | Potential Savings |
| Buy Early | Purchase in your 20s or early 30s to lock in lower premiums | Pay lower premiums compared to buying in your 40s |
| Compare Online | Research multiple policies before deciding | Save by finding the most competitive rates |
| Choose Longer Term | Opt for longer policy periods for better rates | Lock in current rates before age-related increases |
| Maintain Health | Stay healthy to qualify for preferred rates | Discount for healthy individuals |
| Select Riders Wisely | Add only essential riders to avoid unnecessary costs | Save by selecting only relevant riders |
| Pay Annually | Save on administrative fees by choosing the annual payment mode | Reduce overall premium costs compared to paying monthly |
| Disclose Accurately | Provide complete and honest health information | Prevents claim rejection due to non-disclosure |
Here’s what sets ACKO Term Life Insurance — the ACKO Life Flexi Term Plan, apart from other insurers:
| Feature | ACKO Advantage | Traditional Plans |
| Claim Settlement Ratio | 99.38%* | Varies from 95-98% |
| Policy Adjustments | Instant changes via app | Often requires paperwork |
| Coverage Flexibility | Increase or decrease coverage anytime | Usually restricted to life events |
| Cost Efficiency | Up to 40% savings | Higher premiums |
| Premium Stability | Age-wise premiums remain fixed | May increase with inflation |
| Digital Experience | 100% online process | Often requires offline steps |
| Free Will Creation | Yes | Generally not offered |
The ACKO Term Insurance Plan offers unique advantages over traditional term insurance policies for individuals in Bengaluru. Here are some key differences:
Competitive rates for Bengaluru residents.
ACKO Life Critical Illness Benefit Rider, Accidental Death Benefit Rider, and Accidental Total Permanent Disability Benefit Rider
Simple online journey from quote to claim
Easy claim experience with a *99.38% claim settlement ratio (CSR)
Easily adjust cover as your life evolves
No hidden charges
Policyholders enjoy better coverage, affordability, and convenience with ACKO’s term insurance plan.
The ACKO Life Critical Illness Benefit Rider covers 21 critical illnesses, including cervical cancer, breast cancer, ovarian cancer, fallopian tube cancer, and many others. This rider ensures that if you are diagnosed with a serious illness, your family’s financial security is not at risk.
Here is the complete list of covered critical illnesses.
Rated 4.6/5 with over 13544 reviews on Google
See all reviews
ACKO Life Insurance is doubling down on its protection focus, prioritising term insurance while also planning to expand into pensions and annuities, said the company's CEO Sandip Goenka, during an interaction with Moneycontrol. Read more
ACKO Tech, the parent company of ACKO General Insurance, has announced its expansion into the life insurance sector with the launch of ACKO Life Insurance. The company's debut offering is ACKO Flexi Term Life Insurance Plan. Read more
ACKO Tech, the parent company of ACKO General Insurance, has launched ACKO Life Insurance with its new Flexi Term Life Insurance Plan. This move marks ACKO's expansion from general to life insurance. The ACKO Flexi Term Life Insurance Plan offers customizable coverage to adapt Read more
1.7K Linkedin Followers 
Reviewed by Vaibhav Kumar Kaushik 
Acko Technology & Services Private Limited
#36/5, Hustlehub One East, Somasandrapalya, 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102
Products 
Company
Legal
Support
Car Insurance 
Bike Insurance
Health Insurance
Group Health Insurance
Travel Insurance
Life Insurance
