Life insurance is not about investing your money to earn a return on it, it’s about financial protection for your loved ones. The most efficient way to do that is through a term insurance policy. You pay only for insurance and after the policy term ends, you don’t get any money back. But on death during the policy term, it pays a huge corpus to the nominees. Look at the premium (cost of the term plan) and the claims settlement record of the insurer. We list premium rates for some policies of a sum assured of 1 crore across three age categories for policy terms are 30, 25 and 20 years. The list of 15 policies has been sorted on the basis of claims settlement rate. The claims settlement rate is measured by benefit amount or the sum assured, as a lower settlement rate is indicative of high ticket-size policies being rejected.