Insurance guide
Term insurance in India.
A term insurance policy offers a high life cover at a relatively low premium to secure your family's financial future in your absence.
What is term insurance?
Term insurance is a pure protection product that pays a lump sum to the nominee if the policyholder passes away during the policy term. It is one of the most cost-effective ways to obtain a large amount of life cover.
Key factors to compare
- Coverage amount and income replacement requirement
- Policy term and rider options
- Premium affordability and claim settlement track record
- Inclusion of critical illness, accidental death, or waiver of premium riders
Who should buy it?
Term insurance is useful for working professionals, young families, self-employed individuals, and anyone with financial dependents or long-term liabilities such as EMIs, education loans, or a home loan.
Frequently asked questions
How much cover do I need?
A common benchmark is 10–15 times annual income, adjusted for liabilities and dependents.
Does term insurance include riders?
Yes, many insurers offer riders such as accidental death, critical illness, or waiver of premium.