Term Insurance
Term insurance gives your family a fixed amount of money if something happens to you during the policy term. Here is some simple information to help you understand it before you buy.
What decides your premium?
Your age
The younger you are when you buy, the lower the premium usually is.
Gender
Premium rates can be different for men and women.
Smoking and health
People who smoke or chew tobacco usually pay more. Your health and medical history can also change the premium.
Cover amount
A larger sum assured means a higher premium.
Policy term and payment term
How long the cover lasts, and for how many years you pay the premium.
Add-on covers
Add-ons such as accidental death or accidental disability cover cost extra.
This is why a premium amount means little without your age, gender and smoking status. Insurers quote a premium for each person separately.
What to compare besides the premium
Claim settlement ratio
The share of claims an insurer has settled. Each insurer publishes it. Check the latest figure.
Cover till which age
Some plans cover you only up to a certain age. Check that the cover lasts as long as your family needs it.
Add-on covers and their cost
Compare what each add-on covers and what it adds to the premium.
Premium payment option
You can pay for the whole term or for a shorter period. Check which options the plan offers.
Exclusions and conditions
Read the policy brochure to see what is not covered and what conditions apply.
To get a quote, keep these details ready
Your age, gender, whether you smoke or chew tobacco, your yearly income, the cover amount you want, and the policy term.
This page is general information only. Premiums, terms and benefits depend on the insurance company and on your own details. Read the policy brochure before you buy.
Want a quote for your own details?
Send us your age, gender, whether you smoke, the cover you want and the policy term, and we will share the options available.