Term plans offer substantial life cover at a lower premium compared to other types of insurance, making it an accessible option for individuals seeking budget-friendly protection.
The death benefit provides financial support for your loved ones, covering expenses, loans & lifestyle needs, ensuring they maintain their quality of life in your absence.
You can choose coverage periods that suit your goals, whether until a mortgage is paid off, until children are financially independent, or for lifelong peace of mind.
Many term plans offer add-on riders, such as critical illness, accidental death, or disability benefits, providing an extra layer of financial protection.
A term insurance plan is a type of life insurance policy that provides financial coverage for a specific period (term). If the insured passes away during the policy term, the nominee receives a death benefit. It does not offer maturity benefits.
Term insurance is an affordable way to ensure financial security for your family in case of your untimely demise. It provides a high coverage amount at a low premium and is essential for individuals with dependents.
A general rule is to opt for a cover that is 10–15 times your annual income. Consider your liabilities, future expenses (like education or marriage of children), and lifestyle needs while deciding.