Term Insurance

Maximum Cover.
Minimum Cost.

A ₹1 Crore term plan can cost less than ₹800 per month for a healthy 30-year-old. If you have dependents — this is not optional. It is your most essential financial responsibility.

₹1 Cr cover under ₹800/monthUp to age 8598%+ claim settlement
Why Term Insurance?

The Most Important
Financial Decision

The Simple Truth
Your family depends on your income. If something happens to you, they need to continue living with dignity — paying EMIs, school fees, daily expenses. A term plan replaces your income for your family. It is not a luxury — it is your responsibility.
✅ ₹1 Cr cover: ~₹7,200/year for 30-year-old non-smoker
✅ ₹2 Cr cover: ~₹12,000–15,000/year
✅ Term up to age 85 years
✅ Return of Premium (ROP) option available
Riders Available
✓ Critical Illness — lump sum on diagnosis
✓ Accidental Death Benefit — extra payout
✓ Premium Waiver on Disability
✓ Monthly Income for family
✓ Increasing Term Benefit
Get Free Quote
We respond within 2 hours · Zero fee
🔒 Secure & private. No spam. We compare all leading insurance companies for you.
Quote Request Received!
Our insurance specialist will call within 2 hours.
Ref:
Documents Required

Term Insurance Checklist

👤Identity & Age All Applicants
Aadhaar Card
PAN Card
Age proof (birth certificate / passport / 10th certificate)
Passport-size photographs (2)
Address proof (Aadhaar / utility bill)
💰Income Proof
Last 3 years ITR (for sum assured above ₹1 Cr typically)
Last 3 months salary slips (salaried)
6 months bank statements
Form 16 (salaried)
Business P&L + Balance Sheet (self-employed)
FAQs

Term Insurance Questions

How much term insurance cover do I need?
Rule of thumb: 10–15× your annual income. If you earn ₹8 Lakh/year, minimum ₹80L–₹1.2 Cr. Also add: outstanding loans (home loan balance), children's education corpus, and family's living expenses for 10–15 years without your income.
Why is term insurance so cheap compared to other life insurance?
Term insurance is pure protection — no savings component, no maturity payout. The insurer pays only if you die during the term. Since most policyholders survive, premiums are low. This makes it the most efficient way to get maximum family protection.
What is Return of Premium (ROP) term plan?
With ROP, if you survive the policy term, all premiums paid are returned at maturity (without interest). Regular term: no maturity benefit. ROP premiums are 1.5–2.5× higher. Financially, regular term + investing the difference gives better returns — but ROP gives psychological comfort.
Who is not eligible for term insurance?
Some conditions can restrict term insurance: very high-risk occupations, severe pre-existing conditions (certain cancers, serious heart conditions), very advanced age. In these cases, we guide clients to life insurance savings plans which still provide family protection.
When should I buy term insurance?
As early as possible. A 25-year-old pays significantly less than a 35-year-old for the same cover. The premium is locked at purchase age. Never wait — health conditions or age can increase premiums or lead to rejection. Buy today, even if you need to increase cover later.
Can I have multiple term insurance policies?
Yes. You can have term policies from different insurers. Total cover is assessed against your human life value (income × years to retirement). Insurers check CKYC and may ask for income proof for total cover above ₹1 Cr.
How do I choose between different term insurance providers?
Key criteria: (1) Claim Settlement Ratio (CSR) — choose 98%+ for maximum reliability, (2) Solvency ratio — financial health of insurer, (3) Premium amount, (4) Riders available, (5) Premium payment flexibility. We compare all these for you.
What happens to the claim if cause of death is not declared upfront?
All natural and accidental deaths are covered in standard term plans. Exclusions are minimal (typically suicide in first year). Always disclose health conditions honestly at purchase — non-disclosure can lead to claim rejection.

Srikara Financial Services assists individuals in accessing insurance products from all leading registered insurance providers. Insurance policies are issued by the respective insurance companies. Premiums are indicative. Tax benefits based on applicable Income Tax Act provisions. Please read the policy document before purchase.

Important Legal Notice

For your guidance and assistance only. Srikara Financial Services is an independent financial guidance and assistance platform. We help individuals understand and access loan and insurance products offered by banks, housing finance companies, and registered insurance providers. We do not lend money, we do not underwrite or issue insurance policies, and we do not make credit or underwriting decisions of any kind.

All loan sanctions, disbursals, and credit approvals are made solely by the respective financial institutions based on their own credit assessment policies. All insurance policies are issued solely by the respective registered insurance companies based on their own underwriting criteria. Approval is never guaranteed. Interest rates and premiums shown are indicative and subject to change.

No liability for financial outcomes. Srikara Financial Services and its representatives are not liable for any financial loss, claim rejection, policy lapse, loan default, or any other financial outcome arising from products accessed through our guidance. All financial decisions are the sole responsibility of the customer. We strongly recommend reading all product terms, conditions, and key information documents before making any financial commitment.

Insurance-specific notice. We assist you in comparing and accessing insurance products from all leading registered insurance companies. We do not guarantee policy issuance, claim approval, or any specific coverage outcome. Insurance is subject to acceptance by the insurer based on their underwriting norms. Claims are settled solely by the insurance company. We are not liable for any claim rejection, policy exclusion, or insured amount recovery issues. Please read your policy document carefully before purchase.

Tax information. Tax benefits and exemptions mentioned on this website are based on prevailing Income Tax Act provisions applicable to resident Indians. Tax rules are subject to change by the government. NRI tax treatment varies by country of residence. Please consult a qualified chartered accountant or tax advisor for personalised tax guidance. This website provides general information only and does not constitute legal, financial, or tax advice.