Term Life Insurance
Key reason(s) to buy Term Insurance
  • Protect your family’s financial future in case of the earning member’s death
Key Features:
  • High sum assured
  • Affordable Premium
  • Cover Critical illness and Accidental Disability
  • Save Tax - upto Rs.46,800 under section 80C

* Tax benefit depends on scheme chosen and current tax laws

1 Crore life cover at ₹490/month*
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What is Term Plan?

Term insurance is the simplest and most affordable form of life insurance that is active for a fixed period of time, referred as the Policy Term (PT). Term plans provide peace of mind to you by ensuring that your family is financially secure and independent, in your absence. It’s your risk management tool – it transfers risk from you to insurance company.

If you are the person insured, you pay a specific premium amount at fixed intervals during the policy term. In the event of your unfortunate demise during the Policy Term (PT), your nominees will receive the ‘Sum Assured (SA)’ which you had selected while purchasing the plan.

You have flexibility to choose your Premium Paying Term (PPT) eg. Regular Pay – means pay till full policy term, or Pay till 60 years of age, or Pay in 10 years etc.

Term plans provide additional protection through optional benefits like Critical illness Cover, Accidental Death Cover and many more.

How much risk coverage is good?

Ideal Term Policy Cover should be atleast 10 to 15 times of your annual income.
Eg. If your annual income is Rs.10 Lakhs p.a than you should have atleast Rs.1 Crore policy cover

Is adding Critical illness rider beneficial?

Yes, it is beneficial. A Critical illness cover provides a lump sum benefit which can help in paying for the medical and hospital treatment cost, recuperation expense etc. Regardless of your hospital expenses, the insurer pays the full sum insured. Critical illness covers Kidney, Heart disease, Cancer of certain severity, Parkinson etc. as per the pre-specified list of insurance company. Tax benefit u/s 80 D is available for this cover.