Term Life Insurance

Live life knowing your loved ones are protected with term life insurance.

Get the Right Coverage

Term life insurance provides dependable, low-cost protection for a specified period of time, and the payment amounts don’t change for the guaranteed premium period. This type of insurance is one of the basic & simplest of insurance plans.


Very simply put, the purpose of a TERM Insurance plan is to ensure the financial well-being of your family in case of your premature death. The premium amount is usually low and the coverage is provided for a fixed tenure. Once the tenure lapses you can chose to renew the cover for another relevant term.

This means that if every year you pay Rs. 15,000/- for a 20 lacs cover, in the 2nd year though your premium outflow will be a cumulative of Rs. 30,000, the Life cover will stand at 20 lacs. Should anything happen to you after 5 years, you would have paid a premium of Rs. 75,000 and your nominee will get Rs. 20 lacs.

Factors affecting the cost of term insurance premium rates:

Some of the major factors that are taken into account by insurance providers while determining the premium rate ones are listed below:

  • Age of the applicant
  • Current health history
  • Intake habits
  • Sum assured
  • Tenure of the policy

Advantages of TERM INSURANCE plan:

For most people, the main reason to purchase life insurance is to help provide for dependents in the case of one’s death and the resulting loss of income. The biggest advantage of TERM INSURANCE is its lower initial cost in comparison to other insurance plans.

Term insurance is often a good choice for you if you are in the family-formation years, especially if when you are on a tight budget, because it allows you to buy high levels of coverage when the need for protection is often utmost.

To determine a coverage amount, you should estimate what your family members would need after you’re gone to meet immediate, ongoing, and future financial obligations including funeral expenses, rent or mortgage, other day to day recurring expenses like electricity & water bills, children’s education, and spouse’s retirement.

Then, add up the resources that your surviving family members can draw upon to support themselves, such as a spouse’s income, accumulated savings, and life insurance you may already own. The difference between the two is your need for additional life insurance.

Benefits of TERM INSURANCE plan:

Death Benefit: In case of an unfortunate event of death of the policyholder (Life Assured) during the policy term, the insurer shall pay the Sum Assured to his/her survivors/dependents.

Maturity Benefit: Term Insurance offers no maturity benefit. It is like renting a house. When you lease a house you get immediate and full use of the property but for only as long as you pay the rent. Once the term expires, though you have paid rent for the entire period you do not have any ‘equity’ and thus no value belongs to you.