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Know More about life insurance

  • Term Life insurance provides coverage for a fixed period of time at a fixed premium rate.
  • In case of untimely death of the life insured during the policy term , the nominee of the life insured gets the Total Payout/Benefit. The benefit can be paid out as a lump sum payout or a combination of Lump sum & Monthly payout or only as a Monthly payout.
  • Therefore Term insurance plans are said to be pure protection plans which ensure financial stability of the dependants in case of untimely death of the life insured.



    • Benefits of Term Life Insurance

  • Death Benefit: In the unfortunate event of death of life insured during policy term, the nominee shall receive the Total Payout as a Lump sum amount or a combination of Lump sum & Monthly amount.
  • Lump sum amount to take care of immediate financial liabilities.
  • Monthly income to sustain the family lifestyle.
  • Tax Benefit: The premiums paid for Term Life Insurance are Tax free under section 80(C) upto an amount of Rs 1,50,000.
  • Rider Benefits: Riders are an important addition to the basic plan offering & provide an option to customize the coverage to the life insured.
  • Accidental Death Benefit rider offers an additional sum assured over the base plan offering in case death occurs due to an accident.
  • Critical Illness rider offers an additional sum assured over the base plan offering if the life insured is diagnosed with one of the critical illnesses mentioned in the rider.



    • Key Terms when comparing Term Life insurance plans


  • Total Payout of each plan
  • Premium amount paid for desired Total Payout
  • Policy term offered





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