Term insurance is the simplest and purest form of life insurance, offering financial coverage to the policyholder against fixed premiums for a specified duration – hence the name ‘term’ life insurance policy. Choosing and investing in the best term insurance plan is of utmost importance to anyone who has dependents and the best term insurance plan in India provides security as well as value for money. The premium for the life insurance term plan depends on various crucial factors including age, gender, premium payment term, policy term, sum assured, etc. chosen by you and policy term.

What is Term Insurance?

Term insurance is a pure life insurance product, which provides financial protection to the policyholder. In case of death of the insured during the policy period, the beneficiary receives a death benefit as defined under the chosen term insurance plan.

EXAMPLE: A 20-year-old healthy, non-smoking male can secure a cover of Rs. 1 crore for his dependents for the next 40 years. If he buys a term insurance policy, he will only pay approximately Rs. 615/month@1, exclusive of taxes (Premium for Neelanjan Group Protection Term Plan | UIN: 104N125V05| ).