टर्म इंश्योरेंस पॉलिसी

आपके जीवन में सबसे अधिक महत्वपूर्ण लोगों के प्रति एक प्रतिबद्धता

जीवन के हर पहलू पर तो आपका नियंत्रण नहीं है, लेकिन कुछ चीजें आप नियंत्रित कर सकते हैं। एक टर्म प्लान, जो आपको ऐसा करने में सहायता करे

इस श्रेणी में आने वाले उत्पाद इस प्रकार हैं। अब नियंत्रण लेने का समय है!

इंडियाफर्स्ट के टर्म प्लान को क्यों चुनें?

  • पूरा आराम

    एक ऐसा भुगतान विकल्प चुनें, जो आपके नकदी प्रवाह (कैश-फ्लो) के अनुरूप है, और उसके अनुसार प्रीमियम भुगतान विकल्प हैं।

  • त्वरित दावा सेवाएं

    हम आपके समय एवं सुविधा को सबसे अधिक महत्व देते हैं।

  • मन की शांति

    अपने परिवार को वित्तीय रूप से सुरक्षित करके आपको मन की पूरी शांति मिलेगी, और वे ठीक वैसे ही जीवनयापन करेंगे, जैसा आपके सामने करते।

  • आपकी आवश्यकताओं के अनुरूप सुरक्षा

    हर परिवार अद्वितीय है, और उनकी वित्तीय आवश्यकताएं भी! हमारे प्लान खासतौर पर आपकी आवश्यकता के अनुरूप हैं।

  • कर लाभ

    आप जिस प्रीमियम का निवेश करेंगे, वर्तमान आयकर कानूनों के अनुसार धारा 80सी तथा धारा 10 (10डी) के अन्तर्गत उस पर और उसकी परिपक्वता पर भी आपको कर लाभ मिलेगा।

  • Covid-19 Claims* are covered

    Term insurance covers you against all certainties including various critical illnesses and covid-19

विचार करने वाले कुछ कारक

  • कवरेज आवश्यकता

  • अपने जीवन के चरण पर विचार करें

  • पॉलिसी के लाभों को समझें

  • दावा निपटान (क्लेम सैटलमेन्ट)

  • ग्राहक सेवा

  • IndiaFirst Life Insurance policies can be bought online as well as offline.

What is Term Insurance?


With a term insurance plan or term cover, an individual can avail coverage for a certain period of time or ‘term’ by paying a specific premium amount during that period. Such a life insurance policy guarantees a death benefit pay-out to the nominees/family members, if the insured dies during the period specified in the term insurance policy.

With the uncertainty and financial strain of the current COVID 19 pandemic, it is even more essential to ensure that your family will be cared for, whatever tomorrow may bring. A term plan helps you do exactly this. As they are regulated under IRDAI (Insurance Regulatory and Development Authority of India), term insurance plans offer a guaranteed pay-out under the specified terms.

How does a Term Insurance Policy work?


Depending on the term plan you choose, your nominees are paid a lumpsum amount of money, in case of the policy holder’s death. By varying the lumpsum amount payable, you can also choose to receive monthly income benefits. A term insurance policy can be expanded to include riders so you can reap better term plan benefits in case of disability, critical illness, or accidental death , Income replacement at nominal prices.

 

Who needs a Term Cover?


While everyone should have a term cover, it is an absolutely essential investment for those who have people depending on them. This includes married couples, those with dependent parents, parents with dependent children, self-employed individuals, business people, and other taxpayers. Here’s why:

  • Newly-married couples: Before splurging on material gifts for special occasions, consider getting yourself and your spouse a gift that will give you peace of mind and financial security—a term insurance policy. In case of the loss of the primary breadwinner, the family has to contend with lack of funds along with their immense grief. With a lumpsum pay-out to address immediate needs as well as optional regular monthly payments, your spouse and dependents will be provided for in their time of need. Make the first present you give your spouse a term policy which tells them that you care about their wellbeing today and forever.
  • Parents: Raising children is not easy, and the costs incurred to meet their needs only increase with time. From diapers and school expenses, to heavier university fees and living expenses, the list of expenses runs long. How would the loss of financial security affect the dreams of your children? One of the responsibilities of parenting is to ensure that your children are not deprived in your absence. A term policy ensures that your children have your financial backing as they try to meet their goals in life, even if you’re not around.
  • Singles/Young Professionals: If you have no dependents, should you buy a term plan? Yes, there are a number of impressive benefits that make a term policy a must-buy for singles and young professionals. Critical illnesses are not just a problem for the elderly—from heart attacks to stress-related conditions, even people younger than 40 are at risk. Furthermore, getting a term plan early in life means that you will pay less premium for the same coverage, and save money on tax (under 80C).
  • Working Women: Women share the responsibility of taking care of the financial health of their families. Other than your own children and spouse, you can also have your parents as your nominees to ensure their financial security. With a critical illness rider, serious yet common conditions like cervical and breast cancer can be better handled with funds from your term insurance plan.
  • Retired People: A term plan is a smart idea for retired people who have dependents. Subject to conditions set forth under Section 10(10D) of the IT Act 1961, term insurance pay-outs are tax-free which means you can leave an inheritance for your children even if you don’t have money saved for them yet.
  • Tax Payers: Whether you are self-employed or in service, term insurance plans are a clever investment for all tax-payers. Reduce your existing tax burden by claiming paid premiums as deductibles under Section 80C.

 

What are the features of Term Insurance?


Uncertainty is the only certainty in life. Possibilities of untimely death, accidents, disabilities, and diseases always exist, even if we don’t like thinking too much about them. What happens to your family members and their dreams in such cases? This is an eventuality that you can control with the right term insurance policy.

Avail a significant life insurance cover in exchange of affordable premiums. Get your term insurance policy at a young age to further lower the premium you need to pay.

Some term insurance policies offer added advantages such as cover for critical illnesses. This will ensure that in case you fall ill with these predefined medical conditions, you can avail quality medical care without worrying about expenses.

Avail a significant life insurance cover in exchange of affordable premiums. Get your term insurance policy at a young age to further lower the premium you need to pay.

  • High cover at affordable rates: Avail a significant life insurance cover in exchange of affordable premiums. Get your term insurance policy at a young age to further lower the premium you need to pay.
  • Option to cover major critical illnesses: Some term insurance policies offer added advantages such as cover for critical illnesses. This will ensure that in case you fall ill with these predefined medical conditions, you can avail quality medical care without worrying about expenses.
  • Staggered monthly pay-outs and/or lumpsum amount: Dependents/nominees receive either a lumpsum benefit amount or a regular monthly pay-out in addition to the lumpsum, depending on the specifics of your term insurance policy.
  • Optional disability and accidental death term plan benefits: Unforeseen accidents could result in permanent or temporary disabilities, and even, death. By adding an optional disability or accidental death rider to your term insurance policy, you can bank on financial aid in such eventualities.
  • Tax benefits under Section 80C for paid premiums and sum assured of term cover: Term insurance plans offer tax savings as specified under Section 80C of the IT Act (1961). Furthermore, the final benefit amount released under a term plan is tax-free under Section 10(10D).
  • Long term cover: Enjoy the benefits of a life cover for a period of up to 99 years of age# Different premium paying options
    Choose convenient premium payment frequencies—monthly, quarterly, half yealry, yearly, or onetime payment of single premium.
  • Liability benefits: Under a term policy, the sum assured that your dependents receive can be used to clear off any loans, debts, or liabilities you may have.

 

Why do you need Term Insurance?


It is only natural to ask “What’s in it for me?” So, what else do you stand to gain by getting a term insurance policy? Here are your answers:

  • Financially securing your family :A term insurance policy provides financial security to your family and dependents in case of the untimely demise of the primary breadwinner/policy holder. As a rule of thumb, it is recommended that you get a term cover that is 10-20x your annual income.
  • Lower premiums :As compared to other insurance plans which have an investment component, term insurance plans are simple, straightforward and effective. The lack of the investment element also results in lower premiums. This amount can be further reduced by getting a term insurance plan at an earlier age.
  • Protection of your assets :Your life-goal purchases, such as house, car, or children’s education, have been fulfilled through loans. By getting them covered against the benefits of a term insurance pay-out, you can rest assured that these do not become a liability for your family in your absence.
  • Protection of your family’s lifestyle: Your family is used to living a certain way. Ensure that your family’s standard of living does not get compromised even in your absence. Regular monthly income and/or a lumpsum pay-out will have your loved ones covered.
  • COVID 19 claims* are covered :The raging global pandemic has cost millions of people their lives. A critical illness and COVID 19 rider on your term cover will give you peace of mind and insurance benefits.
  • Meeting the certainties of life :In life, the presence of uncertainties is a certainty. Instead of living in fear and confusion, you can ensure a lifetime of confidence with term insurance plans that have you covered against any circumstances.

 

How to buy Term Insurance?


  • Determine your coverage need :The most critical step in buying term insurance is calculating the amount of coverage you require. You should avoid the mistake of under-insuring yourself as it will not serve the idea behind investing in a term plan. As you grow older and your lifestyle requirements evolve, it would be wiser to protect and safeguard your family by getting adequate life cover. To find out how much cover you should opt for, use our term plan calculator.
  • Consider your life-stage :Your life insurance requirements and priorities differ at every stage of life; therefore, it is important to understand what life stage you are at before buying a term plan. Take into consideration the dependent members of your family, as this will ascertain the amount of money you need to invest. Depending on your life stage, your financial responsibilities will differ. Also, factor in your annual income and smoking habits to arrive at an estimated sum assured.
  • Understand policy benefits :Once you have zeroed in on the policy based on your needs and the track record of the company, take time to understand the features of the policy. Make sure to check and evaluate the features related to the policy term, premium-paying term, sum assured and benefits. Policy brochures/ offer documents should not merely be browsed through but actually be read in detail. You can choose to add important riders such as critical illnesses benefit, accidental death and disability benefits so you get the most out of your term plan.
  • Get a quote :After selecting the right term cover for you, get a premium quote in a couple of clicks. Choose your sum assured and years of cover by giving basic details like your age to get a quick premium quote.
  • Pay your premium to kickstart cover: Once you are satisfied with your term plan and benefits, you can start your term cover online by filling in additional details and paying the premium online. Complete your application by submitting required documents for our term life insurance policy online.

 

Why should you opt for IndiaFirst Life Insurance Term Plans?


The primary purpose behind getting a term life insurance policy is so you have complete peace of mind in any eventuality—you want to know beyond doubt that your family will be financially secure and protected in your absence. Trusted by over 5.5 million customers just like you, IndiaFirst Life Insurance guarantees 100% genuine claim settlement.

You have complete flexibility when it comes to choosing your term plan type, riders, and premium options. Covering all of your term plan needs, IndiaFirst Life Insurance term insurance products include:

  • Online Term Plan
  • IndiaFirst Life Plan
  • IndiaFirst Life Guaranteed Protection Plan

Backed by esteemed institutions like Bank of Baroda and Union Bank of India, IndiaFirst Life Insurance stands firm with you in your commitment to financially secure the people who matter the most to you.

Life is all about choices, and there is no reason why your chosen term cover should not offer you the same. With IndiaFirst Life Insurance, choose from various premium paying terms, riders, and pay-out options—make the best choice for yourself and your family.

Get a detailed look at a sample policy document, look through IndiaFirst Life Insurance term plan brochures, get quotes, and pay your premium online. From start to finish, IndiaFirst Life Insurance offers you the flexibility to buy your term policies online as well as offline.

IndiaFirst Life Insurance follows the ‘Customer First’ principle in all its endeavours. The goal is to offer simple, easy-to-understand life insurance plans with real benefits at an affordable price. With a claim settlement ratio of 96.65% (individual claims), IndiaFirst Life Insurance guarantees 100% genuine claim settlement.

  • Join 5.5 million IndiaFirst Life Insurance customers
  • 100% genuine claim settlement
  • Flexible Term Plan options
  • Backed by Bank of Baroda and Union Bank of India
  • Choice of premium paying terms and pay-outs
  • Get your policy online and offline
  • Quick and hassle-free claims service

 

What are IndiaFirst Life Insurance eligibility criteria for Term Plan Policies?


  • The minimum age for applying is 18 years and the maximum age for applying is 60 years*
  • The maximum age at the end of the plan is 99 years#
  • Minimum Sum Assured: Rs. 1,00,000. Maximum Sum Assured: Rs. 5,00,00,000

Most life insurers offer a policy term that ranges from 5 to 40 years. It is important to keep your retirement age in mind. In India, the typical age of requirement is 60 years. So, if you get an IndiaFirst Life Insurance Term Policy to cover you till retirement, your financial responsibilities are likely to be cleared by then.





FAQs

  • मुझे एक टर्म प्लान में कितना लाइफ कवर खरीदना चाहिए?

    आपका लाइफ कवर इतना पर्याप्त होना चाहिए कि उससे आप अपने सभी ऋण एवं लोन का भुगतान कर सकें और वह आपकी आय का काम भी करे, खासतौर पर यदि आप ही अपने परिवार के एकमात्र धनोपार्जन करने वाले व्यक्ति हैं। अपनी वार्षिक आय को पॉलिसी में जोड़ने से आप मुद्रास्फीति के विरुद्ध एक प्रभावी सुरक्षा कवच पा सकते हैं। अपने भविष्य के दायित्वों को ध्यान में रखते – जैसे कि अपने बच्चे की शिक्षा तथा अपने जीवनसाथी का स्वास्थ्य।

  • मुझे किस आयु में एक टर्म इंश्योरेंस खरीदना चाहिए?

    टर्म इंश्योरेंस खरीदने की कोई 'सही आयु' नहीं है, आपकी न्यूनतम आयु 18 वर्ष होनी चाहिए। शीघ्र आरम्भ करना एक समझदारी भरा निर्णय है। यदि आपकी एक सुनिश्चित आय है, जो आपको समय पर प्रीमियम भुगतान करने में समर्थ बनाती है, तो आप अपने परिवार के भविष्य में निवेश करने के लिए तैयार हैं। यदि आप विवाहित हैं, आपके बच्चे या माता-पिता हैं, जो आपके ऊपर आश्रित हैं, तो आपको निश्चित रूप से एक टर्म इंश्योरेंस पॉलिसी खरीदने पर विचार करना चाहिए। आपकी आयु बढ़ने के साथ ही भुगतान किए जाने वाले प्रीमियम बढ़ते हैं।

  • मेरे टर्म प्लान की अवधि कितनी होनी चाहिए?

    आपको प्लान के अन्तर्गत उपलब्ध अधिकतम टर्म चुनना चाहिए, ताकि आपके प्रियजनों के लिए वित्तीय सुरक्षा सुनिश्चित की जा सके।

  • यदि मैं टर्म प्लान की अवधि तक जीवित रहता हूं, तो क्या मुझे कोई परिपक्वता लाभ मिलेगा?

    टर्म प्लान का मुख्य पहलू यह सुनिश्चित करना है कि आपके जाने के बाद भी आपके प्रियजन वित्तीय रूप से सुरक्षित रहें। वैसे इसमें पॉलिसीधारक के जीवित रहने की स्थिति में कोई एकमुश्त भुगतान नहीं होता है।

  • क्या पॉलिसी की अवधि के दौरान मेरी प्रीमियम धनराशि में अंतर आएगा?

    प्लान की समग्र अवधि के दौरान आपकी प्रीमियम धनराशि एकसमान रहेगी। आपके प्रीमियम में आने वाला एकमात्र बदलाव है - सेवा कर विनियमों में आने वाले वाला बदलाव, जो भारत सरकार द्वारा घोषित किया जाता है।

  • मैं कभी-कभी ही धूम्रपान करता हूं। क्या फिर भी मुझे अपने आपको एक तम्बाकू उपयोगकर्ता घोषित करने की आवश्यकता है?

    हां, यदि आप कभी-कभी ही धूम्रपान करते हैं, तो भी आपको अपने आपको तम्बाकू उपयोगकर्ता घोषित करने की आवश्यकता है। यह महत्वपूर्ण है, क्योंकि पॉलिसी हेतु सही प्रीमियम का निर्धारण करने के लिए समग्र चिकित्सीय इतिहास बहुत महत्वपूर्ण है।

  • I am an occasional smoker. Do I still need to declare myself as a tobacco user?

    Yes, even if you are an occasional smoker, you would need to declare yourself as a tobacco-user. This is important as all medical history is imperative in determining the right premium for the policy. Withholding any such information may hamper the claim settlement at a later stage.

  • How much does a life insurance term plan cost?

    The cost of term plan depends on several factors such as the policy-holder’s age, health condition, smoking status, annual income, as well as the selected amount and tenure of insurance coverage.

    For e.g., buying an IndiaFirst Life E-Term Plan – a 1 crore term plan for a policy period of 40 years will cost up to Rs. 8,260 annually for a 30-year-old male non-smoker. For a 40-year-old male non-smoker, a 1 crore term insurance plan for 30 years would cost up to Rs. 14,750—the earlier you get term coverage, the cheaper it will be for you.

  • What if I die by natural causes— is that covered in term policy?

    The features of term plan include a lumpsum pay-out to your family in the event of the policy holder’s death, both naturally and accidentally. Term insurance benefits are that your family will receive a specific amount of money, regardless of the reason of the death.

    However, there are certain conditions to be met in case the life assured dies by suicide or there is non-disclosure of truthful facts. Read the term policy document carefully to know about potential exclusions.

  • How much term insurance do I need?

    Experts recommend a term coverage that is, at a minimum, 10 times your yearly income. 15-20 times is a better idea. Ensure that you consider additional liability cover for your home, car, and personal loans for maximum financial security.

    For e.g., if your yearly income is Rs. 10 lakhs and no liabilities, a Rs. 1 crore term insurance will best suit your needs. Add liabilities like a car or home loan amounts as additional covers in your term insurance policy.

  • Is it okay to have two term insurance policies?

    There is no harm in getting extra term coverage as your means and liabilities change. You can have more than one term insurance plans running simultaneously. However, ensure that you disclose existing policy details as it has a bearing on new term cover eligibility.

  • Can I increase my term plan sum assured?

    Depending on your policy terms and conditions, it is possible to increase your sum assured during the term of your policy at certain checkpoints—marriage, childbirth or adoption, home loan, etc

  • Do term insurance plans offer tax benefits?

    Tax benefits are the cherry on the term plan cake. You can get tax deductions under Section 80C of the IT Act of 1961 (up to Rs. 1.5 lakhs). For critical illness cover, you can get tax deductions under Section 80D. Importantly, the lumpsum pay-out received by your family members in the event of untimely demise of the policy holder is tax-free under Section 10 (10D).