Buy RS. 1 Crore Term Insurance plan with 12% online discount

What is Term Insurance?

Term insurance is the purest and simplest type of life insurance which offers financial protection and safety for your family after you. This single tool can help the nominee in case of the assured's unforeseen death during the policy term. It covers various expenses like education, housing, groceries and more of your loved ones in your absence. A term life insurance plan provides high life cover on a fixed premium, which is determined by the insurance company. The term insurance premium amount varies based on several key factors, such as your age, gender, occupation, and lifestyle habits.

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Why Should I Buy a Term Insurance Plan?

People of every background want to cover financial protection for their own family after his absence. Term plans also help families pay off debts like home loans and car loans after losing a family member, specifically the family's breadwinner.

Family's Future: As a primary breadwinner, you must ensure the well-being of your parents, spouse, and children. A term life insurance plan provides high life cover for your dear ones, even in your absence.
To Protect the Assets: You may have taken loans to buy assets like a car, or home. You can make sure that term insurance offers your family the financial support they need to repay your outstanding dues after you.
Tax Benefits: Term insurance premiums are eligible for tax deductions under Section 80C and death Benefit is tax-free with Section 10(10D) of the Income Tax Act.
To Reduce Lifestyle Risks: The unforeseen death of the family's breadwinner can make it difficult for loved ones to carry on with their lives. This can impact their work and ability to earn money, However buying the best term insurance plan can help the surviving family with adequate financial support at a trying time.
Be Prepared for Uncertainties: Life is unpredictable, and plans can change at any moment due to factors beyond our control. This can be best understood during the COVID-19 pandemic, life can be uncertain. Term insurance can help you prepare for unexpected financial needs with a wide range of life's uncertainties.

Benefits of Buying a Term Insurance Plan

Tax Saving Benefits

Whole Life Coverage

Financial Protection to Family

Additional Financial Security

Easy to buy

High Life Cover at low premium

Get all your premiums back

Multiple Payout Option

Who Should Buy a Term Insurance Plan?

Anyone who has financial dependents should buy a Term Insurance Policy including parents, married couples, self-employed or businessmen and in some cases, even retirees.

Term Insurance for Parents: Starts a new chapter in life after Becoming a parent and as a parents financial responsibilities continue to expand—from school fees and daily living expenses. A term insurance plan provides financial support for their children in case of an unfortunate event. This is one of the most impactful decisions you can make early on.
Term Insurance for Women: Term insurance is equally important for all genders, women are equal to men in managing finances and play a crucial role in supporting their families. Term Insurance helps protect your family—whether it's your parents, partner, or children—remains financially stable even in your absence.
Term Insurance for Tax Payers: If you are a taxpayer, term life insurance plans offer tax benefits that can help you save your taxes. The premium amount is eligible for a tax deduction under section 80C of the Income Tax Act, 1961.
Term Insurance for Self Employed: As a self-employed person your income may fluctuate based on market conditions, business cycles, or client demands. Given these unique challenges, term insurance provides financial security to the families even when you are not around.
Term Insurance for Married Couple: A Newly Married life starts with joy and excitement, but it also comes with important responsibilities. By investing in term insurance as a couple, it is one of the most impactful decisions you can make early on. This policy provides a lump sum payout that can cover living expenses, debts, and other financial obligations, in case of an unfortunate event.
Term Insurance for Retirees and Senior citizens: Retired and Senior citizens (60 years or above) can secure their family members depending on them by buying a term insurance plan. The nominee gets a tax-free payout, as long as they meet the rules in Section 10(10D) of the Income Tax Act, 1961.

Document required to Buy Term Insurance Plan

Make your application process smooth by keeping these documents handy:

KYC document: Any one of the following documents can be submitted as identity & Address Proof
1. PAN Card
2. Aadhaar card
3. Passport
4. Driving license
5. Voter ID
Income Proof: Salary slips, Latest Form-16 and IT returns, Bank statement
Medical Report: Latest medical reports of the policy holder provided by the insurer

How to Buy Term Insurance Online

Visit Web online CA Website and visit term life insurance
Enter your basic details such as name, age, gender and contact number
Fill your personal habits, educational qualification, occupation type and annual income
Once done, you will receive a call from our team and guide you on the next steps
Select the most suitable plan and proceed to pay to generate a policy

What are the Documents Required for Term Insurance Claim Process?

Duly filed Insurance company's claims form which is available online and offline
Medical records such as admission/discharge/death summary and test results
Original term policy documents
Death Certificate
Photo and ID Proof of the nominee like Aadhaar Card, PAN Card or Voter Id
Nominee's cancelled cheque and NEFT mandate form

FAQs About Term Insurance

When should I buy a term insurance plan?

Buying term insurance early, when you start earning or as soon as you can. You get an insurance policy at an affordable premium, When you start investing in a term plan at a young age. This will save a lot of money and cover financial security from an early age.

Can I change my details later on during the policy tenure?

Yes, you can change or update personal and policy details during the policy tenure. You can visit insurer's branches to ask for changes in details such as: The spelling of your name, Contact information, Residential status, Date of birth, Nominee, Premium payment frequency or mode.

Do term insurance premiums increase every year?

Existing term insurance premiums do not increase every year. The policy you purchase today will have the same premiums from now as long as your policy is active and unchanged. Your premium may also rise with additional add-on benefits.

Can senior citizens buy term insurance?

Yes, senior citizens below 65 years of age can buy term insurance to secure the future of their spouse and dependent family.

Can I buy multiple term insurance policies?

Yes. If you're financially eligible for the total sum assured of all the policies you can buy multiple term insurance plans for financial protection of your family.

How can I get a Rs. 1 crore term insurance plan?

Before you buy a Term Plan, you should calculate the premium you need to pay for Rs. 1 crore life cover. The next step is to find out the insurance provider's credibility and claim settlement history.

What will happen if I don't die until my Term Plan is over?

Term insurance is designed to pay-out a death benefit to your nominee only if the policyholder passes away during the policy term. If you survive the term, your policy will terminate and there is no return, maturity or money back at the end of the term insurance plan.

Do term insurance plans offer tax benefits?

Yes, The premium amount is eligible for a tax deduction under section 80C of the Income Tax Act, 1961.

What happens if I stop paying term insurance premiums?

Most term insurance policies have a grace period for payment of premium, typically 15 to 30 days. If you fail to pay within the grace period, the policy will lapse, and you will lose coverage.

What are riders in term life insurance?

Riders in term life insurance are additional add-ons that provide extra protection and benefits at affordable premium rates. Riders available with term life insurance are:

Accidental death Benefits
Waiver of Premium Benefits
Accidental Disability Rider Benefits
Critical Illness Benefits