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Term Insurance

Term insurance is one of the simplest and most sought-after life insurance policies. It is a life insurance policy that provides financial safety to your beneficiary if you as the insured expire during the active term of the policy. An assured amount is paid to your beneficiary in this case. You can also choose between payout options like a lump sum, lump sum plus annuity, or annuity.

Most people depend on the life cover provided by their employer. It isn’t adequate, both in terms of the cover and duration. The cover amount is minimal and ends when you move on to another company. What you need is the best term plan whose benefits last for a lifetime and beyond.

A comprehensive term insurance plan goes a long way in ensuring financial protection for your family. IDFC FIRST Bank brings you some of the best term insurance plans from five of the leading life insurance companies in the Industry – ICICI Prudential, HDFC Life, Bajaj Allianz, TATA AIA and Aditya Birla Sunlife.Read More

You can access our Protection Planning Tool (use the right name) to help you select the right amount of life cover you will need. Read Less


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    • The Dependency of your Family: You can use the term insurance money to meet the monthly expenses of your dependents and family when you’re not around. Moreover, it fulfils vital life goals such as education and the marriage of your child.
    • Protection of the Assets: A term plan allows you to take loans for assets such as a car or a house. In case of your demise, your family can utilize the term insurance pay-out to pay off the outstanding debts.
    • Risks Related to Lifestyle: Present-day lifestyle problems often lead to various ailments and diseases. Some term insurance Plan does not just safeguard your dependents and loved ones after the demise of the policyholder but also offer critical illness protection for a lifetime. This key feature pays for the diagnosis of some critical illnesses such as heart attack or cancer.
    • Right Time to Buy a Term Insurance Plan: Ideally, as early as possible. The earlier one buys it, the lower the premiums will be. Also, the moment one realizes that they have dependent on their life, they should immediately look for a plan and buy the best term insurance policy. 
    • Why buy Term Insurance early: Your premium is decided on the age at which you buy the policy and remains the same throughout your life. Premiums can increase between 4-8% each year after your birthday. Your policy application could be rejected or, premiums could increase if you develop a lifestyle disease.


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What are the Key features of Term Insurance Plan?

Provides cost effective Life cover , Long Term protection with Tax benefits & additional rider benefits as well . One can conveniently make the payment towards term plan premium on a monthly, quarterly or yearly basis

What are the Factors that affect Term Insurance Premium?

Factors includes Age, Gender, Policy Term, Profession, Individual Health, Smoking/drinking Habits etc.

What should be my buying guide Term Insurance?

While buying Term insurance majorly check the below Claim settlement ratio, Companies reliability, Premium, waiver of premium, solvency ratio , Riders, terminal & critical illness benefit etc.

Who Should Buy a Term Insurance Policy?

Any individual with financial dependents should consider purchasing an online term insurance policy e.g. Parents,Newly married , Tax payers, Young Professionals as well

What are different riders available in term plans?

There are various riders as per different companies , Major important riders are Critical illness rider, waiver of premium rider , Accidental death benefit rider, Accidental Total and Permanent Disability Rider etc.

How Much Term Insurance Cover Does One Need?

Various factors determines the same. Factors like Inflation, Current expenses, future liabilities, future financial goal, human life value etc. 

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