Introduction to Term Insurance
Term Insurance is one of the most simple, affordable, and effective life insurance plans available today. It is designed to provide financial protection to your family in case of your untimely death during the policy term.
Unlike investment-linked insurance plans, term insurance focuses purely on protection, ensuring that your loved ones remain financially secure even when you are not around.
When you buy a term insurance policy, you need to select the following key details:
- Policy Term: Choose the duration such as 10, 20, or 30 years.
- Sum Assured: The total coverage amount paid to your nominee.
- Premium Payment Mode: Monthly, quarterly, or yearly options.
If the policyholder passes away during the policy term, the sum assured is paid to the nominee.
If the policyholder survives the term, no maturity benefit is paid (except in a Return of Premium plan).
High Life Cover at Low Premium
Term insurance offers large coverage amounts at very affordable premiums, making it ideal for young professionals and families.
Financial Security for Family
- Daily living expenses
- Children’s education
- Loans, medical & emergency needs
Tax Benefits
Premiums qualify for tax deduction under Section 80C, and death benefits are tax-free under Section 10(10D) as per applicable laws.
Flexible Policy Options
- Increasing or decreasing cover
- Limited or regular premium payment
- Single premium option
Rider Benefits
- Accidental Death Benefit Rider
- Critical Illness Rider
- Waiver of Premium & Disability Rider
Peace of Mind
Knowing that your family’s future is financially protected gives you mental peace and confidence to focus on your life goals.
Salaried Professionals
Self-Employed Individuals
Business Owners
Parents with Dependent Children
Anyone with Financial Dependents