Life insurance and term insurance guidance
Life insurance helps the people who depend on you keep their plans on course if your income stops. We help you understand the options and choose cover that fits your responsibilities and your budget.
Why life insurance matters
Most families depend on one or more incomes for daily expenses, loan instalments, education and other plans. Life insurance pays a sum to your nominee if the insured person dies during the policy term, so those commitments can continue to be met.
It is best decided calmly and early, while you are healthy and premiums are lower. The aim is a plan that fits your responsibilities and that you can keep up for the full term.
Financial protection planning
Financial protection starts with a list of what your income supports: household expenses, home or vehicle loans, children's education and care for parents. Cover is then sized against those commitments, alongside any savings and insurance you already have.
We help you build that list, estimate a suitable amount of cover and check it again when your life changes.
Term insurance
Term insurance pays a fixed sum assured to your nominee if the insured person passes away during the policy term. A standard term plan has no maturity benefit, which is why its premiums are generally lower than those of plans that combine cover with savings.
Variants exist, including plans that return the premiums at the end of the term at a higher cost, and riders such as accidental death, critical illness or waiver of premium that can be added to some policies for an extra premium. We explain the differences before you decide.
Term insurance and savings-linked plans
Family protection
Family protection is a plan for the household if the earning member is no longer there. It covers who receives the payout, how it is received, which loans it should settle and how it fits with your other policies and savings.
Keep nominee details up to date after marriage, the birth of a child or other life events, and make sure your family knows where the policy documents are.
Choosing appropriate coverage
Four questions shape how much cover is appropriate.
- 01
Income and expenses
How much does your household spend each year, and how many years of that spending would you want to protect?
- 02
Loans and liabilities
Home, vehicle or personal loans that your family would otherwise have to repay.
- 03
Future goals
Education, marriage or other milestones that depend on your income.
- 04
Existing cover and savings
Employer cover, existing policies and investments that already offer some protection.
Some planners use a multiple of annual income as a starting point. The right figure depends on your situation, and we work it out with you.
Estimate the cover to discuss
Cover worksheet
Sample figures are filled in to start. Replace them with your own.
What your family spends in a year
Until loans end or children become independent
Home, vehicle and personal loans
Education, marriage or other milestones
Employer cover and existing policies
Investments you would count on
Indicative cover to discuss
₹90.00 LAdditional cover beyond what you already have.
- Needs your income supports
- ₹90.00 L
- Already in place
- ₹0
0% of the need is already covered
A starting point for a conversation, not advice. It does not allow for inflation, tax or the returns on your savings, and the right amount depends on your situation.
Talk through my numbers (opens in a new tab)Policy considerations
Policy term
Choose a term that runs at least until your major responsibilities end, such as loan repayment or your children's independence.
Premium payment
Regular, limited and single premium options exist. Pick one you can sustain, because a lapsed policy may stop giving cover.
Disclosure
Give accurate details about your health, habits, income and existing policies. Incorrect or missing information can affect a claim later.
Exclusions and conditions
Read the exclusions and conditions in the policy document, and ask us about anything that is unclear.
Savings and market-linked plans
Some life insurance products combine protection with savings or market-linked investment and have different costs. We explain how they differ so you can judge each on its own terms.
How we assist
Understand your household
We note your dependants, income, loans and goals.
Estimate cover and compare plans
We suggest an amount of cover and compare suitable plans and riders.
Complete the application
We help you prepare the proposal form and documents with accurate details.
Stay supported
We remain available for questions, nominee updates and premium payments.
Frequently asked questions
How much life cover do I need?
There is no single answer. A common approach is to add up the expenses, loans and future goals that your income supports, subtract existing cover and savings, and arrive at a figure. We work through this with you.
What is the difference between term insurance and other life insurance plans?
Term insurance provides protection for a fixed period and generally has no maturity benefit. Other plans combine cover with savings or investment and usually cost more for the same amount of cover. Which is appropriate depends on what you want each product to do.
Who should I choose as nominee?
You decide. Common choices are a spouse, children or parents. Keep the nominee current and tell your family, so the claim process is easier for them.
Can I hold more than one life insurance policy?
Yes. Insurers ask about your existing cover when you apply, so disclose every policy.
What happens if I stop paying premiums?
The policy may lapse and the cover may stop. Grace periods and revival options differ by policy, and we can explain the terms of yours.
Get life insurance guidance
Tell us about your family and responsibilities. We will help you understand how much cover is appropriate and which plans to consider.
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