What is it?
Term insurance provides a large life cover for a fixed term at a comparatively low premium, with no maturity benefit in standard plans.
Key Features
- High sum assured at low premium
- Flexible policy terms
- Critical illness and accident riders
Potential Benefits
- Income replacement for your family
- Covers loans and future goals
- Premiums lower when bought early
Risks
- No payout if you outlive the term (standard plans)
- Claims depend on accurate disclosure
Who May Consider It?
- Young earners
- Parents and homeowners with loans
- Business owners
Frequently asked questions
1. How much cover do I need?
A common thumb rule is 10–15x annual income, adjusted for liabilities and goals. Try our Insurance Need Calculator.
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