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LIFE INSURANCE

Term Insurance — High Coverage at Lowest Premium

Pure life protection with the highest coverage at the most affordable premium. Secure your family future with ₹1 crore+ coverage for as low as ₹500/month.

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What is Term Insurance?

Term insurance is the purest and most affordable form of life insurance. It provides a high life cover (death benefit) for a specified term at a very low premium. If the insured person passes away during the policy term, the nominee receives the full sum assured.

Unlike endowment or ULIP plans, term insurance has no investment or maturity component — it is pure protection. This is why it offers the highest coverage (₹1 crore+) at the lowest premium, making it the most recommended life insurance product by financial experts.

Why Buy Term Insurance?

  • Highest Coverage — Get ₹1 crore+ cover for as low as ₹500-800 per month
  • Family Protection — Ensure your familys financial security if something happens to you
  • Income Replacement — Replace years of lost income for your dependents
  • Debt Protection — Cover home loan, car loan, and other liabilities
  • Tax Benefits — Premium deductible under Section 80C, death benefit exempt under Section 10(10D)
  • Rider Options — Add critical illness, accidental death, disability, and waiver of premium riders

Key Benefits

Pure Protection

Highest life cover at lowest premium. No investment — pure financial safety net.

Affordable Premiums

₹1 crore cover from ₹500/month for a 25-year-old. Prices increase with age.

Family Security

Provide financial security for spouse, children, and dependent parents.

Loan Protection

Cover outstanding home loans, car loans, and other debts for your family.

Tax Benefits

Premium u/s 80C (up to ₹1.5 lakh) and death benefit u/s 10(10D) tax exempt.

Rider Add-Ons

Add critical illness, accidental death, disability, and premium waiver riders.

Types of Plans Available

MOST POPULAR

Level Term Plan

Fixed sum assured throughout the policy term. Most common and straightforward option.

Increasing Term Plan

Sum assured increases by 5-10% each year to keep pace with inflation and growing needs.

Return of Premium

Get all premiums returned at maturity if you survive the term. Higher premium but money-back guarantee.

Claim Process

1

Nominee contacts insurer with death intimation within 30 days

2

Submit death certificate, policy document, and nominee ID proof

3

Insurer verifies claim details and investigates if required

4

Claim processed within 30 days of receiving all documents

5

Death benefit paid to nominee — lump sum, monthly income, or combination

Documents Required

  • Identity proof (Aadhaar, PAN, Passport)
  • Address proof
  • Income proof (salary slips, ITR for last 2-3 years)
  • Age proof
  • Medical test reports (insurer may arrange)
  • Existing policy details (if any)

Frequently Asked Questions

A common rule is 10-15 times your annual income. Also consider outstanding loans, childrens education costs, and your familys living expenses for 15-20 years. A financial advisor can help calculate the right amount.
The younger you buy, the lower the premium — and it stays locked for the entire term. Buying at 25 can cost 50-60% less than buying at 35 for the same coverage. Buy term insurance as soon as you have financial dependents.
In a regular term plan, nothing — the coverage simply ends. If you want money back at maturity, choose a Return of Premium (RoP) plan, though it costs 2-3x more than a regular term plan.
Yes, buying online is recommended as it can save 10-20% on premiums compared to offline purchase. FMC Insurance Bazaar helps you compare and purchase term insurance from top insurers online.
Key riders to consider: Critical Illness (lump sum on diagnosis), Accidental Death Benefit (additional payout), Disability Benefit (income on disability), and Waiver of Premium (premiums waived if disabled).
Most insurers require a medical test for term insurance. Some offer no-medical-test plans for younger applicants with lower sum assured. The test is usually arranged by the insurer at no cost.
You can choose: Lump Sum (entire amount at once), Monthly Income (regular payments over years), or Lump Sum + Monthly Income (combination). Choose based on your familys financial literacy and needs.
Yes, many Indian insurers offer term insurance to NRIs. Some restrictions may apply based on country of residence. Premium payment can be in INR from an NRE/NRO account.

Explore More Insurance Products

Life Insurance
Critical Illness Insurance
Health Insurance
Family Floater Insurance

Get Term Insurance Quote

Compare term insurance plans from top life insurers. Get ₹1 crore+ coverage at the most affordable premium.

  • ₹1 crore cover from ₹500/month
  • Compare top life insurers
  • Tax benefits under Section 80C
  • Optional riders for complete protection

Get Term Insurance Quote

Secure Your Family Future

Our insurance experts are available to help you choose the right plan. Get a free callback now.

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