Term Life Insurance
Protect your family's future, not just your savings
A term plan pays your family a lump sum if you're not around. Compare plans from India's top life insurers and get an advisor who stands by your nominee at claim time.
- High cover at a low, fixed premium
- Riders for critical illness, accidental death and disability
- Claim guidance for your nominee, start to finish
Term Life Insurance advice
Step 1 of 3
- High cover at a low, fixed premium
- Riders for critical illness, accidental death and disability
- Claim guidance for your nominee, start to finish
Compare term life insurance from leading insurers
Before you choose
Costly term life insurance mistakes we fix
These only show up at claim time. An advisor checks for every one of them before recommending a plan.
₹1 crore by default
Cover should follow income, loans and dependants, not a round number.
Cover ending at 60
If your children or loans depend on you longer, the cover should too.
Hiding tobacco or health history
Non-disclosure is the main reason life claims are declined.
Counting employer life cover
It ends when you leave the job and is usually small.
What your advisor checks for you
- Cover amount vs. income and loans
- Insurer's claim record
- Policy term and payout option
- Riders worth having
- Honest medical and habit disclosure
- MWP Act and nominee set-up
How much cover do you need?
Use the term cover calculator to find your number and your gap.
Calculate my cover Or talk to an advisor →Find the right fit
Types of term life insurance
Not sure which one you need? Our advisors will help you combine them the smart way.
Know what you're buying
What's covered, and what isn't
We explain the fine print before you buy, not after you claim.
Usually covered
- Death due to illness or natural causes during the policy term
- Accidental death (with an extra payout if you add an accidental death rider)
- Death anywhere in the world, in most plans
- Terminal illness benefit in many plans, part or full payout on diagnosis
- Critical illness payout, if you add the rider
- Waiver of future premiums on disability or critical illness, if you add the rider
- Payout as a lump sum, monthly income, or a mix, your choice at purchase
Usually not covered
- Suicide within the first 12 months (the nominee usually gets back a portion of the premiums paid)
- Death from hazardous activities you didn't declare, like adventure sports or racing
- Death under the influence of alcohol or drugs
- Claims where health, smoking or income details were hidden or misstated
- Death after the policy has lapsed for non-payment of premium
- Maturity value, a basic term plan pays nothing if you outlive it (unless it's a return-of-premium plan)
Coverage varies by insurer and plan. Always check the policy wording, we'll walk you through it.
Tax benefit
Save tax under Section 80C and 10(10D)
Your term life insurance premium also lowers your tax bill.
₹1,50,000
Maximum deduction on premiums under Section 80C
₹25,000
Extra deduction for critical illness or health riders under Section 80D
Tax-free
Payout to your nominee under Section 10(10D)
Deductions under Sections 80C and 80D are available under the old tax regime. All benefits are subject to prevailing tax laws and conditions. Please consult your tax advisor.
The PolicyBench difference
How we help you, start to finish
Right-size your cover
We work out how much your family would actually need, counting income, loans and goals, not a round number.
Compare honestly
We put plans side by side on claim record, exclusions, riders and payout options, not just the cheapest premium.
Disclose correctly
We help you declare health, smoking and income details properly, so your family's claim isn't questioned later.
Stand by your nominee
If the worst happens, we guide your family through the documents and the insurer's process.
Customer stories
Real help when it mattered
Sample stories for the demo, to be replaced with real customer reviews.
“They compared six term plans for me and explained why the cheapest one wasn't right for my income. No pressure, just clear advice. I chose ₹1.5 Cr cover after one call.”
FAQs
Term Life Insurance questions, answered
How much term cover do I need?
A common starting point is 10–15 times your annual income, plus any outstanding loans like a home loan. Then adjust for big future goals such as children's education. Our advisors will help you work out a number that fits your family.
What happens if I outlive the policy?
A pure term plan pays nothing at the end of the term, that's why it's so affordable. If you want money back, a return-of-premium plan refunds the premiums you paid, but costs noticeably more.
Is it cheaper to buy term insurance when I'm young?
Yes. Premiums are based on your age and health when you buy, and for most plans they stay fixed for the whole term. Buying in your 20s or early 30s usually locks in a much lower premium.
Do I need a medical test?
Usually, yes, especially for higher cover. Many insurers arrange tele-medicals or home visits at no cost to you. A medical test now makes your family's claim smoother later.
Can a claim be rejected after many years?
Under Section 45 of the Insurance Act, once a life policy has been in force for three years, the insurer cannot question it on any ground, including misstatement. In the first three years it can, which is why honest disclosure matters.
Can I have more than one term plan?
Yes. Many people add a second plan as their income or loans grow. You must declare existing cover to each insurer, and all plans pay out on a valid claim.
What is the MWP Act option?
Buying your term plan under the Married Women's Property Act makes your wife and children the beneficiaries in a way that creditors and other relatives cannot claim the payout. It's worth considering if you run a business or have large loans.
How is PolicyBench paid? Do I pay a fee?
You pay no fee to us. Our advisors are licensed insurance agents, and when you buy a policy through us the insurer pays us a commission set under IRDAI rules. For plans from insurers we are not appointed by, we still explain your options and you buy directly from that insurer.
Find the right term life insurance today
Talk to a PolicyBench advisor. Clear comparison, honest advice and no pressure to buy.