What is Term Insurance?
Term Insurance is the purest and most affordable form of life insurance, designed to provide high financial protection at a low premium. It ensures that if the policyholder passes away during the policy term, the insurer pays the entire sum assured to the nominee.
This benefit helps your family cover living expenses, loan repayments, children’s education, and long-term financial needs in your absence.
Term insurance is ideal for anyone who wants maximum coverage at minimum cost.
How Does Term Insurance Work?
You choose the policy term and the sum assured.
You pay a fixed premium (monthly/quarterly/yearly).
If death occurs during the policy period, the nominee receives the full payout.
If the policyholder survives the term, there is generally no maturity benefit (unless you choose Return of Premium plans).
Types of Term Insurance Plans
✔ Level Term Plan
The sum assured remains the same throughout the policy term.
Simple, affordable, and best for most individuals.
✔ Increasing Term Plan
The sum assured increases every year to match rising lifestyle costs and inflation.
✔ Decreasing Term Plan
Coverage decreases over time — useful for people with loans or liabilities.
✔ Term Plan with Return of Premium (TROP)
✔ Income Benefit Term Plan
✔ Term Insurance with Riders
Why Should You Buy Term Insurance?
✔ Maximum Coverage at the Lowest Premium
Term insurance offers the highest life cover compared to any other plan at very affordable rates.
✔ Financial Security for Your Family
Ensures your family’s future expenses are taken care of — even if you are not around.
✔ Helps Clear Loans & Liabilities
The payout can help your family repay home loans, personal loans or other debts.
✔ Provides Peace of Mind
Knowing your family is financially protected brings emotional and financial comfort.
✔ Excellent Tax Benefits
Premiums qualify for tax deductions under Section 80C
Payouts to nominees are tax-free under Section 10(10D)
Key Features of Term Insurance
High Sum Assured
Coverage options typically range from ₹50 lakh to ₹5 crore or more.
Flexible Premium Payment Options
You can choose monthly, quarterly, yearly or limited-pay options.
Multiple Payout Choices
Lump sum
Monthly income
Combination of both
Riders for Enhanced Protection
Optional riders offer additional coverage at a small extra cost.
Lower Premium for Early Buyers
Buying term insurance at a younger age ensures very low premium rates.
Who Should Buy Term Insurance?
Salaried and self-employed individuals
Parents with dependent children
Individuals with home loans or other debts
Married couples
Business owners
Anyone who wants long-term financial security for their family
Documents Required for Term Insurance
Identity & Address Proof
Aadhaar, PAN, Passport, Voter ID, Driving Licence
Income Proof
Salary slips, Form 16, ITR for last 2–3 years
Age Proof
Birth certificate, school certificate or Aadhaar
Medical Reports
May be required depending on age, sum assured and insurer guidelines
Common Add-Ons / Riders
✔ Critical Illness Rider
Lump sum payout on diagnosis of major illnesses like cancer, stroke, heart attack.
✔ Accidental Death Rider
Additional payout if death occurs due to an accident.
✔ Accidental Disability Rider
Financial protection in case of permanent disability.
✔ Waiver of Premium Rider
Future premiums are waived if the policyholder becomes disabled or critically ill.
Why Choose Bharat Finserv for Term Insurance?
✔ Honest, Unbiased Advice
We help you choose the best plan based on your financial responsibilities — not based on any insurer’s promotion.
✔ Multiple Policy Options
We give you access to top insurers and help you compare benefits clearly.
✔ Personalised Support
From choosing a plan to documentation and claim guidance — we’re with you at every step.
✔ Quick Assistance on Call or WhatsApp
Instant help whenever you need it.
Frequently Asked Questions (FAQs)
Q: What is the right age to buy term insurance?
Ideally before age 35 — premiums are lowest at younger ages.
Q: How much coverage should I choose?
Experts recommend coverage of at least 10–15 times your annual income.
Q: Does term insurance have maturity benefits?
Only return-of-premium (TROP) plans provide maturity benefits. Standard term plans do not.
Q: Can NRIs buy term insurance in India?
Yes, most insurers allow NRIs to buy term plans while visiting the country.
Speak to a Term Insurance Expert
📞 Call Bharat Finserv
📱 Chat on WhatsApp
Let our financial specialists help you choose the right term plan for your family’s future.