Big Cover. Small Premium. Total Peace of Mind.
A term plan is the simplest and most affordable way to make sure your family's lifestyle, loans and goals stay protected, even if you are not around.
Why buy term insurance early?
- Premium is locked for the full policy term at the age you buy
- Younger and healthier means easier approval and lower premium
- Your family is protected from day one of the policy
Pure Protection for the People Who Depend on You
Term insurance pays a fixed sum (the sum assured) to your nominee if you pass away during the policy term. In return, you pay a small premium every year.
Because it has no investment component, a term plan gives the highest life cover for the lowest premium. Keep insurance and investment separate: term plan for protection, mutual funds and SIPs for wealth creation.
Who needs a term plan?
- Earning members whose family depends on their income
- Anyone with a home loan, car loan or business loan
- Parents planning children's education and marriage
- Self-employed professionals and business owners
- Young earners who want to lock in a low premium
Types of Term Plans
The right structure depends on your income, loans, goals and how you want the payout to reach your family.
Level Term Plan
Cover stays the same for the entire policy term. Simple, transparent and the lowest premium.
Increasing Cover
Sum assured rises every year by a fixed percentage, so your cover keeps pace with rising expenses.
Return of Premium (TROP)
Premiums are refunded if you survive the term. The premium is noticeably higher than a level term plan.
Decreasing Cover
Cover reduces over time along with an outstanding loan, so the loan never becomes your family's burden.
Whole Life Cover
Protection up to a very high age (as offered by the plan) to leave a legacy or cover estate needs.
Limited / Single Pay
Pay premiums for a shorter period (e.g. 10 years or once) while the cover continues for the full term.
Strengthen Your Cover with Riders
Riders are optional add-ons you can attach for a small extra premium. Choose only the ones that genuinely fit your situation.
Critical Illness
Lump sum on diagnosis of listed serious illnesses such as cancer or heart attack.
Accidental Death
Additional payout to the nominee if death is caused by an accident.
Accidental Disability
Support if an accident leads to permanent disability and loss of earning ability.
Waiver of Premium
Future premiums are waived on disability or critical illness, while the cover continues.
How Much Life Cover Does Your Family Need?
This calculator estimates the money your family would need to keep living the same way, pay off loans and complete key goals.
Indicative estimate assuming 6% annual inflation in family expenses and a 7% annual return on the payout. This is not a recommendation; your actual need depends on your lifestyle, dependants and goals.
8 Things to Check Before You Buy
- Enough coverAim for cover that replaces your income and clears all loans, not just a round number.
- Right policy termCover yourself at least until retirement, when your dependants stop relying on your income.
- Insurer's claim track recordLook at both the claim settlement ratio and the claim amount settled over several years.
- Honest disclosureDeclare health history, smoking, alcohol and income truthfully. Non-disclosure is a major reason for claim rejection.
- Payout optionChoose lump sum, monthly income or a mix, based on how comfortable your family is managing money.
- MWPA protectionMarried men can buy under the Married Women's Property Act so the payout goes only to wife and children, safe from creditors.
- Only useful ridersAdd riders that fit your real risks instead of loading the policy with every option.
- Nominee detailsKeep nominee names, relationship and contact details updated, and tell your family about the policy.
We Help Your Family Through the Claim
A term claim usually happens at the hardest time for a family. We guide the nominee through every step.
Intimate the Claim
The nominee informs the insurer (or us) with the policy number and basic details.
Submit Documents
Claim form, death certificate, policy copy, nominee ID and bank details, plus medical or police records where applicable.
Assessment
The insurer reviews the claim within regulatory timelines. We follow up and answer their queries.
Payout
The claim amount is paid to the nominee's bank account as per the chosen payout option.
Get Term Insurance Quotes in Minutes
Tell us a little about yourself and we'll compare term plans from leading insurers, with cover and premium side by side.
- Side-by-side comparison from multiple insurers
- Help with proposal form, documents & inspections
- Renewal reminders and claim assistance
Term Insurance Questions, Answered
What happens if I survive the policy term?
In a regular term plan, nothing is paid on survival. That is exactly why the premium is so low. If you want your premiums back, a Return of Premium (TROP) variant is available, but it costs significantly more. For most people, buying a regular term plan and investing the difference works out better.
Does the premium increase every year?
No. For a regular level term plan the premium is fixed at the time you buy and stays the same for the entire premium-paying term. This is why buying earlier is cheaper.
Can I have more than one term plan?
Yes. You can hold policies from different insurers, but you must disclose your existing life cover in every new proposal. Splitting cover across two insurers is a common way to diversify, and you can add cover later as your income and responsibilities grow.
Why do smokers pay a higher premium?
Tobacco use increases health risks, so insurers price it separately. If you have quit, insurers usually require a tobacco-free period before treating you as a non-smoker. Always declare tobacco use honestly; hiding it can lead to a claim being rejected.
Are medical tests required?
It depends on your age, cover amount and health declarations. Many insurers arrange tele-medical or home/lab tests at no cost to you. We help you schedule them and follow up on the result.
What is not covered?
Exclusions vary by plan. A common one is suicide within the first policy year, where typically only a part of the premiums paid is refunded. Death due to undisclosed hazardous activities or misrepresentation may also be excluded. Always read the policy wording; we explain the exclusions before you buy.
Can NRIs buy term insurance in India?
Yes, many Indian insurers offer term plans to NRIs, subject to their country of residence, documentation and medical requirements. Talk to us to check eligibility for your situation.
Is there a tax benefit on term insurance?
Premiums may be eligible for deduction under the old tax regime, and the death benefit received by the nominee is generally tax-free, subject to conditions in prevailing Income Tax laws. Please consult your tax advisor for your specific case.
Disclaimer: Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read the sales brochure / policy wording carefully before concluding a sale.
Calculators and information on this page are for general guidance only and do not constitute financial, tax or legal advice. Premiums, features and eligibility vary by insurer and are subject to underwriting.