Term Insurance Companies for Regular Term Plans

Popular Regular Term Plans policies

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LIC's Accident Benefit Rider

Under The Coverage Provided By LIC's Accident Benefit Rider, If The Life Insured Dies Due To An Accident During The Coverage Term.
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Indiafirst Life Riders

Our Goal Is To Help You Meet Those Needs With A Suite Of Products So That You Can Live Your Life On Your Own Terms. Depending On Your Risk Appetite You Can Choose To Invest It A Plan Ranging From Unit
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Indiafirst Life Guaranteed Protection Plan

The Comprehensive Term Life Insurance Plan At A Very Affordable Cost , That Aims To Ensure That The Visions That You Desired For Your Family In Your Lifetime, Doesn't Remain Unfulfilled.....
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Iselect Star Term Plan

Iselect Star Term Plan Is The Shield Against All Uncertainties Of Life. A Highly Flexible Term Plan That Can Be Aligned To Your Life Stage And Life Insurance Needs.
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Critical Illness Cover Offline

Critical Illness Cover Can Help You Make Adjustments To Your Lifestyle That You May Need To Make After Being Diagnosed With A Serious Illness.
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Family Income Benefit Offline

This Rider Provides You With Additional Cover In Case Of Accidental Death Or Disability. This Cover Is Paid In Monthly Installments.
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Group Advantage Term Plan

Group Advantage Term Plan Is A Yearly Renewable Group Term Assurance Plan. This Plan Provides Life Cover To Your Members, Thus Securing Their Family Against Uncertainties Of Life.
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Future Generali Comprehensive Employee Benefits Plan

Future Generali Comprehensive Employee. Benefits Plan. An Unit-Linked, Non - Participating (Without-Profits), Fund Based Yearly Renewable Group Insurance Plan.
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Future Generali Group Gratuity Plan

Future Generali Group Gratuity Plan Is A Non-Linked Non-Participating Group Gratuity Product Offering Fund Management.
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Aviva Corporate Life Plus

Aviva Corporate Life Plus Is A Group Term Insurance Plan That Provides Life Cover For The Employees/Members Of An Organization And Financially Protects Their Families.
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HDFC Life Click 2 Protect Life

HDFC Life Is Proud To Present Click 2 Protect Life, An Intelligent Term Plan That Provides Benefits As Per Your Altering Lifestyle And Life Stage Needs And Helps You Stay Truly Protected.
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Future Generali Care Plus

Future Generali Care Plus - A Term Life Insurance Plan That Is Designed Keeping Your Needs And Preferences In Mind. So That You Can Secure Your Family's Lifestyle, Today And Tomorrow.
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Future Generali Triple Anand Advantages

This Policy Offer Maturity And Death Benefits, It Also Offers Survival Benefits Wherein Policyholders Receive Payouts Annually For Five Years.
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Future Generali New Assure Plus

Future Generali New Assure Plus, A Life Insurance Plan Which Empowers You To Fortify Your Family's Financial Future With One Or Two Payouts, Depending On The Choice Of Plan You Make.
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PNB Metlife Aajeevan Suraksha Plan

PNB Metlife Aajeevan Suraksha Plan Keeps You Protected As Long As You Want (Up To The Age Of 99) While Also Letting You Choose Your Premium Payments Based On Your Current Requirements.
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SBI Life - Poorna Suraksha

SBI Life - Poorna Suraksha Plan, Auto-Rebalance Your Life And Critical Illness Cover As You Get Older, For More Effective Protection.
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Pramerica Life Magnum Assure

Endowment Life Insurance Plan Which Gives You Double Benefits To Take Care Of Your Future Financial Needs And Guarantees A Secure Future For You And Your Family.
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SBI Life - Pradhan Mantri Jeevan Jyoti Bima Yojana

Secure Your Family's Future With SBI Life - Pradhan Mantri Jeevan Jyoti Bima Yojana. Get Life Cover Of Rs.2 Lakh At A Nominal Premium.
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SBI Life - Smart Swadhan Plus

SBI Life - Smart Swadhan Plus, Get Guaranteed Return Of Premiums And Assurance Of Protecting Your Family.
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SBI Life - Smart Shield

An Individual, Non-Linked, Non Participating, Life Insurance Pure Risk Premium Product, And Get Peace Of Mind, Knowing That Your Family Is Financially Secured.
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Future Generali Group Superannuation Plan

Future Generali Group Superannuation Plan Is A Non Linked Participating Group Superannuation Product Offering Fund Management.
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Bajaj Allianz Elite Assure

Allianz Elite Assure Provides A Life Cover Along With Attractive Return On Investments.
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PNB Metlife Group Flexi Term Plus

PNB Metlife Group Flexi Term Plus Is A Flexible Product That Can Be Customised By The Organization To Meet The Specific Requirements Of The Group.
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LIC's Jeevan Aadhar

This Plan May Be Offered To A Person Who Has A Handicapped Dependant Satisfying Conditions As Specified In Section 80DDA Of Income Tax Act, 1961.
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LIC's Amulya Jeevan_I

LIC Amulya Jeevan-I. Type Of Policy: Term Insurance. Term Insurance Is A Fantastic Product That Every Single Family Needs To Have, For Its Earning Member(S).
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Bajaj Allianz Life Etouch Online Term

Every Family Has Dreams That Stem From The Aspirations And Life Goals Of Its Members
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LIC's Amulya Jeevan

Pure Term Plan That Offers Death Benefit But Not Maturity Benefits.
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LIC's Jeevan Bharati

LIC Jeevan Bharati Is A Money Back Insurance Policy That Is Specially Designed For Woman.
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LIC's Jeevan Bharthi_I

LIC's Jeevan Bharati-I Is A Plan Exclusively For Women. It Is A With Profit Plan Having Special Features Considering The Needs Of Women.
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Shriram Life Group Life Protector (SP)

Shriram Group Life Protector Plan Is A Non-Linked, Non-Participating Group Life Insurance Plan That Provides Protection In Case Of Unfortunate Death Of The Insured Member Of The Group.
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Shriram Life Sujana

The Product Aims To Provide Financial Security To The Families Of Members Of Groups Having Lender-Borrower Relationship, In Case Of Death.
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Shriram Life Smart Protection Plan

Shriram Life Presents Smart Protection Plan, A Pure Term Plan Available At An Affordable Premium. It Provides Life Cover Along With Optional Accidental Cover Or Critical Illness Cover.
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Shriram Life My Spouse Term Plan

We All Spend Time And Money To Plan For Our Future Starting With Securing Our Loved Ones. Whether We Are Just Married Or Have Children, The Need For Security Remains.
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LIC's Accidental Death And Disability Benefit Rider

It Is An Optional Benefit Available On Payment Of Additional Premium, And It Provides Additional Benefit, In Case Of Accidental Death Or Disability Due An Accident.
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LIC's Linked Accidental Death Benefit Rider

LIC's Linked Accidental Death Benefit Rider Is A Valuable Addition That Can Really Enhance Any Life Insurance Policy By LIC.
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SBI Life - Saral Swadhan+

SBI Life - Saral Swadhan+ Is An Individual, Non-Linked, Non-Participating, Life Insurance, Saving Product With Return Of Premium Feature That Offers Fixed Life Cover Throughout The Policy Term.
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LIC's_Aadhaar_Shila

This Is A Participating, Non-Linked Individual Life Assurance Savings Plan, Which Is Specifically Designed For Female Lives. The Plan Offers The Combined Benefit Of Insurance Protection And Savings.
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Shriram Life Group Term Life Insurance Plan

Shriram Group Term Life Insurance Is A One-Year Renewable Group Term Assurance Plan That Offers The Options Of Lump Sum Death Benefit In The Event Of Death Of A Member.
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Shriram Life New Group Gratuity

This Plan Offers A Comprehensive Solution To Fund The Gratuity Liability In A Cost-Effective Manner And Also Avail Applicable Tax Benefits.
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LIC's Jeevan Plus

This Is An Unit Linked Whole Life Plan Which Offers Investment Cum Insurance Throughout The Life.
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PNB Metlife - POS Suraksha

An Individual, Savings Insurance Plan, PNB Metlife- POS Suraksha Designed With An Easy Enrolment Process That Offers Regular Monthly Income To Ensure Complete Financial Stability For Your Family.
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LIC's Jeevan Nischay

LIC Jeevan Nischay Is A Single Premium Assurance Plan With Loyalty Addition.
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Group Plans

When Your Employees Are Protected They Are At Their Productive Best
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Pramerica Life U-Protect

It Is Especially Designed For You So That You Can Ensure That Your Family Is Secure And Leads A Comfortable Life, Even When You Are Not Around.
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Pramerica Life Secure Savings Plan

A Savings Cum Protection Plan That Offers Guaranteed Annual Income Along With A Lump Sum Savings Booster Paid Out With The Final Income Instalment.
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Shriram Life Group Superannuation Plan

Shriram Life Group Superannuation Plan Is A Non Linked Non Participating Variable Fund Based Plan Which Can Be Taken By Employers To Manage The Employee Pension Fund.
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LIC's New Bima Kiran

This Is A Premium Back Term Assurance Plan That Provides Financial Protection Against Death Throughout The Term Of Plan Together With A Return Of Premiums Paid At Maturity.
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Shriram Life Group Traditional Employee Benefit Plan

Shriram Life Group Traditional Employee Benefit Plan Is An Affordable, Easy-To-Obtain Financial Security Net For You And Your Loved Ones.
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Accident Benefit Rider Offline

This Rider Provides You With Additional Cover In Case Of Accidental Death Or Disability. In Case Of Disability Due To Accident, All Future Premiums Under The Policy Will Be Waived.
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Extra Insurance Cover Offline

This Rider Gives You Additional Life Cover To Provide For Your Financial Commitments Towards Your Family In Your Absence.
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Shriram Grameena Suraksha Plan

The Plan Is A Micro Insurance Term Plan And Provides Life Cover At A Low Cost To The Socially Weaker Sections Of The Society.
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Shriram Life Family Protection

Shriram Life Family Protection Plan Is A Non-Linked Non-Participating Term Insurance Plan. This Plan Caters To The Needs Of People Who Want To Protect Their Families In Case Of Untimely Death.
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LIC's Jeevan Amrit

Under This Plan Premium Payment Is Limited To 3 Or 4 Or 5 Years And The Premium Payable During The First Year Is Higher Than The Premiums Payable In Subsequent Years.
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LIC's Anmol Jeevan_I

LIC Anmol Jeevan Is A Pure Term Insurance Policy Which Is Primarily For Protection Only. In This Plan, Your Nominee Will Get The Entire Sum Assured If Death Occurs Within The Policy Term.
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Shriram Life Cash Back Term

Shriram Life Cash Back Term Plan Is An Affordable, Easy-To-Obtain Financial Security Net For You And Your Loved Ones.
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Shriram Life Smart Protection Plan SP

Shriram Life Presents Smart Protection Plan SP, A Single Premium Term Plan, So That You Can Sit Back And Relax Without Worrying About Regular Payments.
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LIC's Two Year Temporary Assurance Policy

This 2 Year Temporary Assurance Policy Is A Pure Term Insurance Policy For A SMALL Period Of 2 Years Which Is Primarily For Temporary Protection Only.
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The Whole Life Policy - Limited Payment

The Whole Life Policy- Limited Payment From LIC Of India Is A Whole Life Plan Where You May Choose To Pay Premiums For A Shorter Period Of Time.
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The Whole Life Policy

Whole Life Insurance Is A Type Of Permanent Life Insurance, Which Means The Insured Person Is Covered For The Duration Of Their Life As Long As Premiums Are Paid On Time.
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LIC's New Jeevan Mangal

LIC's Jeevan Mangal Is A Term Assurance Plan With Return Of Premiums On Maturity.
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LIC's Premium Waiver Benefit Rider

LIC's Premium Waiver Benefit Rider Is A Non-Linked,, Individual Non-Participating Rider Option Which Is To Be Complemented With Term Insurance Plans Under Which This Rider Is Allowed (Base Plan)
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LIC's Jeevan Amar

It Is A Non-Linked, Without Profit, Pure Protection Plan. The Plan Offers The Flexibility To Choose From Two Death Benefit Options Viz: Level Sum Assured And Increasing Sum Assured.
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LIC's Child Career Plan

It Provides The Risk Cover On The Life Of Child Not Only During The Policy Term But Also During The Extended Term (I.E. 7 Years After The Expiry Of Policy Term).
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LIC's Jeevan Sugam

LIC's Jeevan Sugam Is A Non-Linked Single Premium Plan Wherein The Risk Cover Is A Multiple Of Premium Paid By You. On Maturity This Plan Offers A Maturity Sum Assured Chosen By You.
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LIC's Jeevan Pramukh Plan

LIC Jeevan Pramukh Plan Is A Special Category Plan As It Is A Life Insurance Policy Especially For The Very High Net Worth Individuals.
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ICICI Pru Icare II A Term Insurance Plan

ICICI Pru Icare II Provides Protection To Your Family. It Ensures That They Will Lead Their Lives Comfortably Without Any Financial Worries, Even In Your Absence.
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Aviva Life Shield Advantage

Aviva Lifeshield Advantage Is A Non-Participating, Non-Linked Protection Plan Where The Premiums Are Returned On Maturity.
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Group Term Edge Plan

Group Term Edge Plan, Which Is An Annually Renewable Group Term Pure Risk Life Insurance Plan. Depending On The Coverage Option Chosen By You.
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PNB Metlife Traditional Employee Benefits Plan

This Group Life Insurance Plan Fits Right Into The Bracket Of Providing Financial Security To Employees And Helps Retain Key Talent Acting As An Employee Benefits Plan.
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Shriram Life Group Term Life Insurance In Lieu Of EDLI

Shriram Life Group Term Life Insurance In Lieu Of EDLI Provides Additional Life Insurance Benefit To All Employees Irrespective Of Their PF Balances, Salary Level And Service.
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Aviva Corporate Shield Plus

Aviva Corporate Shield Plus Is A Group Term Insurance Plan That Provides Benefits In Lieu Of The Employee Deposit Linked Insurance (EDLI).
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Shriram Life Online Term Plan

Planning For Financial Security Is A Very Important Decision We All Should Avail To Safeguard Our Family Against Uncertainties Of Life.
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ICICI Pru Iprotect Smart

ICICI Pru Iprotect Smart Plan Is A Term Life Insurance Plan That Offers Coverage Against Disability, Terminal Illness, And Death And Protects You And Your Family.
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Shriram Life Comprehensive Cancer Care

Shriram Life Comprehensive Cancer Care Plan Is A Non-Linked Non-Participating Protection Plan. We Work Hard To Provide The Best To Our Family And Aspire To Improve Our Life Style.
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Sampoorna Kavach Plan

Sampoorna Kavach Plan Is A Yearly Renewable Group Term Plan Intended To Meet And Fulfill The Life Protection Needs Of The Members Of Your Group At An Affordable Cost.
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POS - Easy Bima Plan

POS - Easy Bima Plan Is A Pure Term Life Insurance Plan With Return Of Premium On Date Of Maturity. It Is Specially Designed To Provide An Affordable And Hassle Free Protection.
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SBI Life - Grameen Bima

SBI Life - Grameen Bima Is An Individual, Non-Linked, Non-Participating Micro Insurance Life Insurance Pure Risk Premium Product That Helps You Provide Financial Security For Your Family.
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SBI Life - Smart Humsafar

Achieve Every Dream With This Plan, A Unique Life Insurance With Saving Product. Avail Of The Twin Benefits Of Insurance Cover And Savings Under A Single Policy For Both You And Your Spouse.
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SBI Life - Eshield

For Those Seeking Financial Protection For Their Family, SBI Life - Eshield Offers A Range Of Benefits At An Affordable Premium.
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Future Generali Group Leave Encashment Plan

This Plan Offers Interest Income Which Gets Credited To The Policy At The End Of Financial Year. The Interest Amount Once Credited To The Policy Account Will Become Guaranteed.
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Future Generali Jan Suraksha

An Individual Non-Linked Non-Participating (Without Profits) Pure Risk Premium Life Insurance Plan. Future Generali Jan Suraksha Is An Insurance Product With Life Insurance Coverage.
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LIC's Jeevan Aastha

LIC's Jeevan Aastha Is A Single Premium Assurance Plan Which Offers Guaranteed Benefits On Death And Maturity.
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Aviva Group Term Life

It Is A Yearly Renewable Group Insurance Plan Designed To Provide Life Cover To Employer-Employee (Including Schemes In Lieu Of Employees Deposit Linked Insurance Scheme) And Affinity Groups.
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Aviva New Traditional Employee Benefit Plan

Aviva New Traditional Employee Benefit Plan Is A Group Employer-Employee Benefit Product Suitable For Employers To Meet Their Fund Management Needs To Make The Employee Benefit Payments.
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LIC's Child Future Plan

It Provides The Risk Cover On The Life Of Child Not Only During The Policy Term But Also During The Extended Term (I.E. 7 Years After The Expiry Of Policy Term).
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LIC's Jeevan Mangal

LIC's Jeevan Mangal Is A Term Assurance Plan With Return Of Premiums On Maturity.
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SBI Life - Sampoorn Cancer Suraksha

Avail The Comprehensive Benefits Of SBI Life - Sampoorn Cancer Suraksha And Prepare Yourself Financially To Defeat Cancer.
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LIC's New Term Assurance Rider

This Plan Provides For Life Cover In Case Of Unfortunate Death Of The Insured During The Cover Period. It Can Be Attached With A Basic Policy To Provide Add-On Benefit At A Nominal Cost.
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PNB Metlife Mera Term Plan

A Pure Protection Plan With A Range Of Additional Coverage Options Is The Ideal Way For You To Protect Financial Future Of Your Loved Ones.
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ICICI Pru Precious Life

The Term Plans Available Today Are More Focused On Providing Life Cover To Healthy People.
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Onsale Plans

A Comprehensive Term Plan With Competitive Premium Can Be A Perfect Shield Against Financial Stress Caused By Any Life Event.
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LIC's Mortagage Redemption Assurance

This Plan Is A Pure Protection Term Plan With Only Death Benefit And No Maturity Benefit.
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Indiafirst Term Rider

Indiafirst Term Rider Enhances The Life Cover Of The Base Plan And Provides Additional Protection To The Family In Case Of The Life Assured's Unfortunate Demise.
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LIC's Flexi Plus

LIC's Flexi Plus Is A Unit Linked Assurance Plan, Which Not Only Provides A Lump Sum Benefit On Death But Also The Maturity Benefit Irrespective Of The Survival Of The Policyholder.
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I Select Star Term Plan

A Highly Flexible Term Plan That Can Be Aligned To Your Life Stage And Life Insurance Needs By Offering Different Options For Not Only Coverage, But Also For Premium Payment And Benefit Payouts.
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LIC's Tech-Term

LIC's Tech-Term Is A Non-Linked, Without Profit, Pure Protection "Online Term Assurance Policy" Which Provides Financial Protection To The Insured's Family In Case Of His/Her Unfortunate Demise.
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Kotak E-Term Plan

Kotak E-Term Plan Is A Pure Risk Cover Term Plan That Is Truly An Economical Means Of Providing You With A High Level Of Protection.
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Future Generali Flexi Online Term Plan

Future Generali Flexi Online Term Plan Is An Affordable And Flexible Plan That Covers Your Family's Financial Future In Your Absence.
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Kotak Term Plan

Kotak Term Is A Pure Risk Cover Plan And An Economical Means Of Providing An Adequate Level Of Financial Protection.
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LIC's Anmol Jeevan

LIC Anmol Jeevan Is A Pure Term Insurance Policy Which Is Primarily For Protection Only.
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Future Generali Express Term Insurance Plan

Future Generali's Express Term Life Plan You Can Secure Your Family's Lifestyle, Today And Tomorrow.
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The Whole Life Policy - Single Premium

Single-Premium Life (SPL) Is Insurance In Which A Policyholder Pays A Lump Sum Of Money Upfront In Exchange For A Guaranteed Death Benefit.
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ONLINE TERM PLAN

Indiafirst's Online Term Plan Is A Term Insurance Plan Which Can Be Directly Purchased Online.
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LIC's Jeevan Tarang

This Is A With-Profits Whole Of Life Plan Which Provides For Annual Survival Benefit At A Rate Of 5 And The Half % Of The Sum Assured After The Chosen Accumulation Period.
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ICICI Pru Group Term Plus

ICICI Pru Group Term Plus Offers Life Cover To The Members Of Your Group. In Case Of An Unfortunate Event, Death Benefit Is Paid.
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LIC's New Jeevan Akshay_I

It Is A Single Premium, Non-Linked, Non-Participating And Individual Instant Annuity Scheme.
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Pramerica Life Wealth Enhancer

Life Cover For Your Family With High Returns To Help Meet Increasing Expenses. Wealth Creation For Your Planned Milestones In Life.
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Shriram Life Jana Sahay

Shriram Life Jana Sahay Is A Non Linked And Non Participating Yearly Renewable Group Term Micro Insurance Product. The Product Aims To Provide Financial Security To Families Of Unorganized Group.
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Future Generali Group Term Life Insurance Plan

Future Generali Group Term Life Insurance Plan Is A Cost-Effective Way Of Providing Immediate Financial Protection In The Event Of The Death Of An Employee Or Member.
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PNB Metlife Mera Term Plan Plus

PNB Metlife Mera Term Plan Plus Is A Protection Plan That Provides You And Your Family With A Comprehensive Life Coverage At A Very Nominal Cost.
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LIC's Anmol Jeevan II

LIC's Anmol Jeevan - II Is A Protection Plan Which Provides Financial Protection To The Insured's Family In Case Of His/Her Unfortunate Demise.
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Mera Mediclaim Plan

Mera Mediclaim Plan Is An Individual, Non-Linked, Non-Participating, Pure Risk Premium, Combi Insurance Plan.
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PNB Metlife Mera Jeevan Suraksha Plan

PNB Metlife Mera Jeevan Suraksha Plan Comes With The Option To Cover Your Spouse As Well As To Choose Return Of Premiums On Survival Till The End Of The Policy Term.
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Indiafirst Life Plan

Indiafirst Life Plan Offers Options From Rs. 1,00,000 To Rs. 50 Crore Life Cover.
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Term Insurance Policy

It Is Very Flexible And Affordable To Buy Term Plan Online. Tax Benefits: Under Section 80C, The Premium Paid Is Eligible For Tax Exemption As Per The Income Tax Act 1961.
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Pramerica Life Trushield

Pramerica Life Tru-Shield Is A Plan Designed Especially To Take Care Of Your Family's Financial Needs In Case You Are No Longer Around To Take Care Of Them.
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PNB Metlife Group Term Life Plus

This Plan Offers A Lump Sum Payment To The Employee's Beneficiary In Case Of Death For Employees To Cover Against Death And Protect The Family.
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LIC's Amulya Jeevan II

LIC's Amulya Jeevan - II Is A Protection Plan Which Provides Financial Protection To The Insured's Family In Case Of His/Her Unfortunate Demise.
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Pradhan Mantri Jeevan Jyoti Bima Yojana

This Is A Non-Participating, Non-Linked, Group Term Insurance Plan Which Provides Life Insurance Coverage To Protect Your Family In Case Of An Unfortunate Death Without Any Hassle.
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ICICI Prulife Iprotect Smart

Since Its Launch ICICI Pru Protect Smart Has Become Our Top Selling Plan Online
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ICICI Prulife Precious Life

But People With Diagnosed Conditions And Other Health Problems Usually Find It Difficult To Get Access To Life Cover.
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Life Advantage Plus Plan

A Non-Linked, Participating, Individual Life, Savings Insurance Plan
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ICICI Pru Immediate Annuity

Rahul Is A 30 Year Old Male Who Purchased ICICI Pru Lifetime Classic With A Policy Term Of 20 Years. Rahul Decided To Pay Rs. 3000 Per Month As Premium For 20 Years And The Life Cover For The Plan Was Rs. 3.6 Lakh.

About Regular Term Plans

Term life insurance, also known as pure life insurance, is a type of life insurance that guarantees payment of a stated death benefit if the covered person dies during a specified term. Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent coverage, or allow the term life insurance policy to terminate.Term Life Insurance approaches give high life cover at lower expenses. For eg: Premium for 1 Cr Term Life Insurance Cover could be pretty much as low as 490 p.m. These fixed charges can be paid on the double or at ordinary stretches for the whole strategy term or for a restricted period.

KEY TAKE AWAYS Term life insurance guarantees payment of a stated death benefit to the insured's beneficiaries if the insured person dies during a specified term.These policies have no value other than the guaranteed death benefit and feature no savings component as found in a whole life insurance product. Term life premiums are based on a person's age, health, and life expectancy.

How Term Life Insurance Works
When you buy a term life insurance policy, the insurance company determines the premiums based on the value of the policy (the payout amount) as well as your age, gender, and health. In some cases, a medical exam may be required. The insurance company may also inquire about your driving record, current medications, smoking status, occupation, hobbies, and family history. Anybody with financial independence should purchase a Term Protection Strategy.

Term life policies have no value other than the guaranteed death benefit. There is no savings component as found in a whole life insurance product.

Types of Term Life Insurance
There are several different types of term life insurance; the best option will depend on your individual circumstances.

1. Level term, or level-premium, policies.
These provide coverage for a specified period ranging from 10 to 30 years. Both the death benefit and premium are fixed. Because actuaries must account for the increasing costs of insurance over the life of the policy's effectiveness, the premium is comparatively higher than yearly renewable term life insurance.

2. Yearly renewable term (YRT) Policies
Yearly renewable term (YRT) policies have no specified term, but can be renewed each year without providing evidence of insurability. The premiums change from year to year; as the insured person ages, the premiums increase. Although there is no specified term, premiums can become prohibitively expensive as individuals age, making the policy an unattractive choice for many.

3. Decreasing term policies
These policies have a death benefit that declines each year, according to a predetermined schedule. The policyholder pays a fixed, level premium for the duration of the policy. Decreasing term policies are often used in concert with a mortgage to match the coverage with the declining principal of the home loan.Once you've picked the policy that's right for you, remember to research the firms you're considering thoroughly to ensure you'll get the best term life insurance available.

WHO SHOULD BUY A TERM INSURANCE POLICY?
Hence, individuals who derive any of the three significant benefits associated with term insurance should consider buying such policies. The three significant benefits are life protection, tax-saving and affordable premiums. Parents, Newly-married, Working Women, Young Professionals, Taxpayers, Self Employed, SIP Investors, Retirees.

What are the Benefits of Term Insurance?
Following is a list of benefits that a term insurance policy can provide you:

High Sum Assured at Affordable Premium
Easy to Understand
Multiple Death Benefit Payout Options
Additional Riders
Income Tax Benefits
Critical Illness Coverage
Accidental Death Benefit Coverage
Return of Premium Option

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