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Find the best Term insurance plans

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Read the key points to understand your term plan better

Sum Insured

The amounts will your family receive in case if you not will them.

Policy Term

Policy term is the duration of policy.

Premium

The amount you pay to buy the policy could premium. This amount remains fixed till the end of your policy term.

Term InsuranceTerm Insurance

  • We provide Guaranteed best rate

  • Get the easy payment option (annually/semi-annually/quarterly/monthly) for the premium payment.

  • Term insurance provides the safety and security for you and your family.

  • Income Tax Benefit.

The objective

The objective of term insurance is to pay the sum assured to the family, in case of the unfortunate demise-natural or accidental, of the policy holder during the policy term.

Features
  • On death during the policy term, it pays a huge corpus to the nominee.
  • Provides larger cover for a small premium.
  • More competitive than ever.
  • Fixed premium.
  • The policy can be taken for a period of minimum 5 years and a maximum of 50 years. Some companies allow the term insurance for 80 years.
  • There are regular premium payments to be done during the entire period i.e. Single, Annual, Semi- Annually and Monthly.
  • The premium rates are offered in two different categories, separately for smokers and non-smokers, the latter enjoying a lower rate of premium.
  • Riders like accidental death cover, critical illness, etc. can be added.
  • Simplified policy issuance.
  • Tax exemptions can be availed to an amount of Rs1.5 lakhs on the premium and completely on the death claim under the sections 10(10 D) and 80 C.
Income Tax Benefits

In respect of premium paid, you can avail a deduction of up to Rs.150, 000 per annum under Section 80C of the Income Tax Act 1961. Also, the death benefit paid to your nominee (in case of unfortunate death) is tax free under Section 10 (10D) of the income Tax Act 1961.
The premium charged for term insurance policies depend on the following variables:

  • The age of the person whose life is to be insured
  • Whether that person is or not a smoker,
  • Other significant health issues or conditions
  • The duration of the term for which coverage is sought
  • The policy limits applied for.

There is a great deal of competition among insurers for term life business, which means low cost coverage for the consumer. The premium you pay is a small price compared to the benefits attached to a life insurance term plan.

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