Is there any risk as HDFC Life and ICICI Prudential Life are private Insurance players

HDFC Life and ICICI Prudential, both are private sector Insurance companies with excellent track record. All the existing companies in India are well regulated by IRDA and therefore you should not have any apprehension about them. One important factor that you should consider before selecting the Insurance company is the claim settlement ratio which is published from time to time by the IRDA Website https://www.irda.gov.in

However, for selecting a right term plan cost is not the only criteria. First, you should check till how long you want the term cover? And if you want premium return post expiry of the cover etc.? Few companies offer life cover till age 70 and some even till age 75 with and without return of your premium (if you survive till the period of life cover).

To understand it further, we suggest you to read these articles

1. https://www.advisorkhoj.com/articles/Life-Insurance/How-to-select-the-best-term-life-insurance-plan-for-you

2. https://www.advisorkhoj.com/articles/Life-Insurance/Best-Life-Insurance-Companies-in-Claim-Settlement