Can I Get a Term Insurance Plan If I am a Smoker?

2025-08-11

7968 Views

10 minutes read

Locate branch

Resume journey

Pay Premium

Live Life More Confidently

Get best insurance from our experts

Name is required Name should be Valid

Mobile Number is required Mobile Number should be Valid

Email is required Email should be Valid

DOB is required DOB should be Valid

Annual Income*

< 3 3-5 5-7 7-10 > 10

Annual Income is required

I agree that even if my contact number is registered with NDNC / NCPR, I would still want the Company to contact me on the given number and email id for the clarifications/product information sought by me and agree that I have read and understood the Privacy Policy and agree to abide by the same.

Please tick to proceed further.

Thank you for your interest in our product. Our financial expert will connect with you shortly to help you choose the best plan.

Planning for the future is always a smart choice, and term insurance is one such financial product that allows you to do so. We all want to provide our families with the best, and term insurance makes that possible. Term insurance provides your loved ones with financial security in case of any unfortunate events in your life. In this guide, you will explore what term insurance is, how it works, age limits and factors to consider before buying one.

Key Takeaways

Term insurance offers financial protection for a fixed period; beneficiaries receive a death benefit if the policyholder passes away during the term.
It does not offer maturity benefits. No payout is made if the policyholder survives the term, unless a return of premium rider is opted.
Major benefits include affordable premiums, high sum assured, and flexible customisation for tenure, riders, and premium frequency.
At Canara HSBC Life Insurance, you can buy term insurance up to age 65, and enjoy benefits up to age 99 with the iSelect Smart360 Term Plan.
Factors to consider before buying include coverage amount, policy features, insurer reputation, claim settlement ratio, and additional riders.
Older individuals can explore term plans with minimal health checks or switch to whole life insurance if eligibility becomes a concern.
Buying term insurance early can help secure lower premiums and long-term financial stability for your family.

Begin securing your future

Full Name* Please enter correct name Please enter the Full name

Mobile Number* Please enter valid mobile number Please enter Mobile Number

Email* Please enter valid email Please enter Email

...Read more Consent is required

What is Term Insurance?

Term insurance is a type of life insurance that provides coverage for a specific term called the policy term. The cover is offered on the life of the person who holds the policy for the period.

If the policyholder comes across an unfortunate situation where they lose their life, the insurance provider pays death benefits to the nominee mentioned in the policy. This financial benefit acts as a shield for the family members and helps them meet their expenses. This financial tool also allows the policyholders' loved ones to pursue their goals, so that they do not have to compromise on living their lives as planned.

On the contrary, if the policyholder survives the policy term, then no payouts are made, as only death benefits are offered under term insurance.

Benefits of Buying Term Insurance

The following are the key benefits of buying a term insurance policy:

1. Financial Aid for your Family

Term insurance provides financial protection to your family. If you are the only one earning in your house and have nobody to look after you, and if something unexpected happens to you, your loved ones can rely on term insurance.

2. Large Sum Assured at Affordable Premiums

Another benefit that term insurance offers is affordability. You can get a large sum of term insurance at an affordable premium. If you buy this loan at a young age, then your premiums are likely to be lower as well.

3. Customisable Policy Choices

A lot of features of a term life insurance can be customised. From the sum assured to the policy term, you can choose all of it. Not just this, but you can also select the frequency of premium payments, whether you want to pay it monthly, annually or quarterly.

Did You Know?

Many term policies are also “convertible,” as they can be converted into a permanent life insurance policy.

Investopedia

Maximum Age Limit When Buying Term Insurance

The term insurance upper age limit in India is from 65 to 75 years. Here at Canara HSBC Life Insurance, we provide a maximum age limit for term insurance till the age of 65 years. However, policyholders can avail benefits up to the age of 99 years.

Term Insurance - Top Selling Plans

Canara HSBC Life Insurance offers online term insurance plans to secure your family financially in your absence.

Family Shield: Enhanced Protection

iSelect Smart360 Term Plan

3 Plan options
Life cover till 99 years
Steady income benefit
Block your premium at inception

Start Young, Pay Less, Stay Secured

Young Term Plan

Life cover till 99 years
Coverage for spouse
Block your premium rate
Covers 40 critical illness

Family Shield: Enhanced Protection

Affordable prices
Multiple premium payment option
Get Tax benefits
Hassle-free purchase process

Factors to Keep in Mind Before Buying Term Insurance

The following factors should be considered when buying a term insurance:

The amount of coverage needed
Policy term
Features of the policy
The reputation of the insurer
Claim settlement ratio
Add-on riders you wish to include

Term Insurance at a Glance

Question	Answer
What is Term Insurance?	A life insurance plan that provides financial protection to your family if something happens to you.
Why is Age Important?	As you get older, health risks increase, making insurance more expensive and harder to get.
What is the Maximum Age to Buy Term Insurance	Most insurers allow purchase until 65 years.
What Are the Options for Older People?	Whole life insurance or special plans that don’t require health checks can be considered.
What Should You Do?	Compare different policies and talk to an expert to find the best option for your needs.

Summing up

Your family's financial well-being depends on the choices you make today. Term life insurance is the best way to secure the security of your loved ones, no matter what happens. Whether you are in your 30s or approaching your retirement, you can avail of a term insurance at any time. While most insurers offer term insurance up to the age of 65 years, iSelect Smart360 Term Plan by Canara HSBC Life Insurance offers benefits up to the age of 99 years. At Canara HSBC Life Insurance, age should never be a barrier when it comes to the financial security of your loved ones. Invest in a Canara HSBC Life Insurance Plan today and plan for the future.

Glossary

Sum Assured: The guaranteed amount paid to the nominee in case of the policyholder’s demise.
Rider: An additional benefit that enhances a term insurance plan, like critical illness coverage.
Term Insurance: Term insurance is a type of life insurance that offers financial protection for a set period.
Mutual fund: A mutual fund is a pool of money that is invested in stocks, bonds, and other securities.
Financial Dependents: Family members who rely on the policyholder’s income for their financial well-being.

FAQs

Various factors like age, gender, medical history, sum assured, and policy term affect the insurance premium.

Premium paid for term insurance is not returnable. Some policies offer a Return of Premium (ROP) rider, under which premiums may be refunded at maturity, subject to terms and conditions.

Term insurance offers customisable options and allows you to choose the sum assured, policy terms, and premium payment frequency.

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.