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Term Insurance with 0% GST, for the People Who Matter Most
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You made the promise to stand by your family, and life insurance will help you keep it. No matter what the circumstances. Because when it comes to the people you love, their happiness comes Sabse Pehle.
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Start Early, Stay Protected for Longer Period
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High Coverage, Low Premiums, and Tax Benefits
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Easy to Buy, Flexible Terms, Hassle-Free Payments
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You made the promise to stand by your family, and term life insurance will help you keep it. No matter what the circumstances. Because when it comes to the people you love, their happiness comes Sabse Pehle.
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What are the Benefits of a Term Life Insurance Plan?
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Low Cost
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With affordable premiums, term plans are one of the most cost-effective life insurance options available to individuals.
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Promise of Protection
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Sum assured or life cover is provided to your family in case of your untimely demise, ensuring their future is secured.
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Flexible Term
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The tenure of your term insurance policy is in your hands. You can choose how long you want your coverage, depending on your need.
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Additional Riders
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Riders are additional benefits that can enhance policy protection in the event of a critical illness or accidental death and permanent disability.
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Return of Premium
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Some term life policy plans also promise return of premiums if you survive the policy term, combining protection and savings.
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Tax Savings
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Term insurance tax benefits include paid premiums, eligible for tax deductions under Section 80C, and death benefit is tax-free under Section 10(10D).
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Income Payout
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As a policyholder, you can also choose to receive a regular monthly income or a lump sum, allowing you to manage your finances steadily.
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Loan Settlement
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Payout from a term life policy can be used to settle debts like home, car, or education loans, to prevent financial stress in your absence.
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Peace of Mind
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Last but not least, a term life policy gives you confidence, knowing that your family’s financial future is secure, no matter what lies ahead.
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You Can Buy a Term Life Insurance Plan If You Are A…
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Young Professional
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Secure your family’s future with high cover at affordable premiums.
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Newly Married
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Protect your shared dreams and responsibilities with reliable cover.
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Parent and Senior Citizens
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Ensure your family’s financial stability even in your absence.
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Self-Employed
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Safeguard your dependents against income uncertainty.
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NRI
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Provide financial protection to your family in India.
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Tax Payer
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Get comprehensive life cover while benefiting from tax savings.
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What are the Different Types of Term Life Insurance Plans?
Term Types Details
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Level Term Plan
Term Description
This is one of the most opted plans of all. The policy and premium paying term is fixed, and the nominee receives the sum assured in case of a mishap.
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Increasing Term Plan
Term Description
As the name suggests, the coverage value increases as time passes by a fixed percentage annually. This helps beat the rising cost of living for families.
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Decreasing Term Plan
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With one of the lowest premiums, this plan helps you meet your liabilities, such as loans. Hence, the coverage reduces gradually.
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Convertible Term Plan
Term Description
Allows you to convert your term policy into another type of life insurance (like whole life or endowment) at a later stage, without fresh medical tests.
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Return of Premium (TROP) Plan
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Simply put, if you survive the policy tenure, all the premiums are returned to you as is. This acts as savings plan in the long run.
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Group Term Plan
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This type of life insurance policy offers insurance coverage for a group of people within a single policy. Big organisations offer this plan as a perk to employees.
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Term Plan with Riders
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It’s a basic term plan that can be enhanced with riders for critical illness, accidental death, waiver of premium, or disability cover for extra protection.
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Whole Life Term Plan
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This plan ensures lifelong financial security for your family as it can extend coverage till the age of 99, 100.
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What is a Term Life Insurance Plan?
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Insurance Plan Description
A term life insurance plan is known to be the best and most affordable form of life insurance. It acts as a financial shield for your family in case of your untimely death during the policy term. The family, through your decided nominee, simply receives a fixed sum assured in such cases.
A term life insurance acts purely as a protective wall. Unlike traditional life insurance or investment-linked policies, maturity benefits or returns are not the key benefits of this plan. Due to this, it offers flexible and low-premium options and is a smart choice for long-term protection.
A term life insurance acts purely as a protective wall. Unlike traditional life insurance or investment-linked policies, maturity benefits or returns are not the key benefits of this plan. Due to this, it offers flexible and low-premium options and is a smart choice for long-term protection.
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Calculate Your Term Life Insurance Needs
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Factors Types
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Age
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Due to a low risk factor, the premiums are lower at a young age. Hence, it is recommended to purchase a term insurance policy at a young age.
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Gender
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Based on the longer life expectancy rate of women, the premiums for them are comparatively less as compared to those of men.
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Occupation
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The nature of jobs decides the premium rate. People with jobs that have life-threatening risks tend to pay high premiums compared to low-risk professions.
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Medical History
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A person’s medical history is a key deciding factor for life insurance premiums. Pre-existing conditions or family illness may increase premium costs.
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Smoking and Alcohol Consumption
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Regular consumption of cigarettes and alcohol raises premiums due to increased health risks.
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Policy Duration
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If you opt for a longer term, the premiums tend to increase. But this also means extended coverage and protection for your loved ones.
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Premium Payment Mode
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As a policyholder, you may pay premiums monthly, quarterly, half-yearly, or annually. But premium charges increase for monthly dues instead of annual plans.
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Riders and Add-ons
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Including extra protection means extra premium charges. Additional riders for illnesses, accidents, waivers, also mean additional premium charges.
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What are the Factors That Impact Your Term Insurance Premiums?
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Your Term Life Insurance knowledge is complete.
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Welcome to the community of financially informed individuals who value security, trust, and smart planning. Share your certificate and inspire your circle to prioritize financial awareness.
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Congratulations!
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How to Buy a Term Life Insurance Plan?
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How To Buy Details
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Assess Your Needs
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Based on your family’s needs, decide the amount of your life cover. Ensure that you consider loans, liabilities, and future goals.
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Lock on a Term
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Choose your policy term based on your age and financial goals. The coverage can extend up to your 60s, 70s, or even 99 depending upon your requirements.
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Compare and Consult
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With so many insurers and plan options available, choose the one that fits your needs—after considering every factor that matters.
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Add Riders
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Term insurance riders for critical illnesses, permanent disability or accidents can be availed for extra safety against unfortunate conditions.
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Fill a Form
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Accurately fill out the proposal form with your personal, financial, nominee and medical details. This information will decide the specifics of the term policy.
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Start Paying Premiums
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According to the agreed terms, kick-start your insurance by making the first premium payment.
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Add a Nominee
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Assign a nominee. They will be the person to receive the sum assured or life cover in case of your (policyholder’s) unfortunate demise.
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It is important to choose a term insurance plan that best suits your needs. You can follow these simple steps to choose the best term insurance plan:
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How to Choose the Right Term Life Insurance for Yourself?
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Evaluate Your Needs
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Decide how much coverage you need based on your income, loans, dependents, and long-term goals.
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Compare Plans
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Look at multiple insurers to find the best balance of coverage, premium, and features.
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Check the Credibility of the Insurer
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Choose a trusted insurer with a strong reputation and years of experience in the market to ensure that you get the best deal.
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Review Customer Experience
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Read reviews and testimonials to understand how policyholders feel about their service.
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Check the Claim Settlement Ratio
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Make sure that you go through the claim settlement ratio of the insurer. It acts a solid proof of credibility for such financial decisions.
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Choose Multiple Payout Options
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Select a plan that allows payouts as a lump sum, monthly income, or a combination, based on your family’s needs.
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Check the Solvency Ratio
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This shows the insurer’s financial health. A ratio above 1.5 (as per IRDAI norms) ensures they can meet claim obligations.
What Are the Different Modes of Buying a Term Life Insurance Plan?
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What Are the Different Modes of Buying a Term Life Insurance Plan?
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How To Buy Details
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Online from Insurer
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Buy directly from the insurer’s website, usually at lower premiums and with faster issuance.
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Online Aggregators
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Aggregator platforms where you can compare features, premiums, and claim ratios across insurers.
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Insurance Agents
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Sell policies of one insurer, guide you through paperwork, and provide personal assistance.
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Insurance Brokers
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Independent intermediaries licensed by IRDAI who can sell policies from multiple insurers and help with comparisons.
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Bancassurance (Banks)
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Banks tie up with insurers to offer life insurance alongside regular banking services.
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Group Insurance
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Coverage provided by employers as part of employee benefits, typically group term insurance.
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Walk-in at Insurer’s Branch
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Visiting the insurer’s branch office to buy a policy face-to-face.
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