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All that you need to know...


Term Insurance FAQs

What is Policy Term?

The meaning of the policy term is the maximum period the life cover in the policy

Is Income Proof Mandatory for Buying a Term Insurance Plan?

Income proof is mandatory for buying a term plan. This is because the purpose of term life insurance coverage

Why are Medical Tests Important while Buying a Term Plan with Critical Illness Cover?

Critical illness insurance provides financial assistance if you contract one of these medical conditions

Waiting Period in Term Life Insurance

Generally, there is no waiting period in a term insurance plan other than suicide. In case you have opted for additional riders such as covers for critical illnesses,

What is Permanent Partial Disability Cover?

Partial disabilities refer to loss of use of one organ or partial loss of us. However, to fall under this classification the disability has to be permanent. When a policyholder witnesses such a situation, their life insurance policy with permanent partial disability cover comes into force. Benefits are paid to help the policyholder or Life Assured under the policy.

What is Permanent Total Disability Cover?

Disabilities can result from a major accident or a life-threatening illness like cancer. Permanent disability has been defined under insurance contracts as one of the following:

What is Temporary Partial Disability?

Temporary partial disability refers to the loss of use in any one limb, but the loss is recoverable. For example, fracture of one hand or one leg. Such disabilities are the most common result of an accident or medical procedure. However, the patient is always recoverable within a short period.

What is Temporary Total Disability Cover?

Temporary total disability refers to injuries or illness that affects an individual completely but for a short or temporary period

What is a Term Insurance Plan with Survival Benefits?

Term insurance plans are known for the simple approach to financial protection

What is a Decreasing Term Insurance Plan?

Term insurance is one of the simplest and most affordable types of life insurance policies

Do Term Insurance Plans Offer Tax Benefits?

The premiums are not taxed under Section 80C and 80D. So, buying the best term insurance plan early and adding riders is a good idea

Can I Get A Term Insurance Plan If I Am A Smoker?

Yes. A smoker may buy a term insurance plan in India. However, it affects you financially when buying a life insurance plan. The terms and conditions

Should you Buy a Term Life Insurance or Whole Life Insurance?

Term life insurance policies are designed specifically to protect your family in the event of your death. If you have a term insurance plan and something happens

What is the solvency ratio in a term insurance plan?

A solvency ratio is a metric that people consider to identify and evaluate the ability of an insurance company in meeting all their financial debts and obligations

Can you get cash in a term insurance plan?

While income replacement is the principal objective of term insurance, many policyholders nowadays have started looking into the cash value term insurance plan to build a secured financial

Is natural death covered in term insurance?

The term insurance policy covers natural death. If you are familiar with the terms of term insurance, you might think that this is not possible with conventional insurance.

What documents should I have to buy a term life insurance plan online?

You can easily buy a term life policy online by filling up the adequate forms necessary. However, the insurance company requires you to provide certain identity proofs

What Happens To Your Term Policy If You Don't Die?

When you buy a term policy, you must pay monthly instalment of premiums to make sure your policy stays valid. While making these payments, you may become curious as to what happens when the policy terminates. The answer

What is accidental cover in a term insurance plan?

Accidental death cover provides you financial help if you meet with any unfortunate accident during the policy term. Death caused by any kind of accident is usually covered by term insurance. For instance, if the person gets

What Is A Limited Pay Option In A Term Insurance Plan?

Limited premium payment plans in a term life insurance signify that the premium shall be payable for the limited term of the policy insured and not for the full term of the policy.

What is the maximum age limit for buying term insurance?

A person can only purchase a term insurance plan till the age of 65 years, and they can choose the risk coverage for up to 99 years of age. One can easily buy the best online term plan between the age of 18 to 65 years.

What is the premium for 1 CR term insurance?

You can calculate your monthly premium for 1 Cr term insurance online with the help of a calculator. Fill in the basic details like your full name, date of birth, gender, annual income, educational qualifications, etc., and you'll get to know the tentative monthly premium.

What happens when a premium is not paid for term insurance?

Term insurance is a unilateral agreement (an agreement where the offeror promises to pay the person taking the policy after the completion of a certain act) between the policyholder and the insurance company. The burden solely lies only on the insurance company,

How much is the income eligibility for term life insurance?

When you go to an insurance company to buy a term insurance policy, they ask you to present a few personal documents and details. One of these documents is your income proof. Income proof helps the insurance company decide the total life coverage that can be offered to you. They calculate the risk and your ability

Can one invest in 2 term plans simultaneously?

Experts say that the answer is yes. While term insurance policy is considerably cheaper than the hybrid plans that offer both investment and insurance products, experts confess that one term plan may not cover a person's needs at various life stages,

Can a person convert term life insurance to whole life insurance?

Getting the best term plan that can be converted to whole life insurance easily has been made very simple. Most term insurance policies will offer a window of time during which policyholders can convert their plan. Also, no medical exam will be required again while converting to whole life insurance.

How to Calculate Term Plan Premium

You can calculate the premium payable under a term plan using a term insurance premium calculator. Term insurance premium calculator is a freely available online tool, which helps you get an estimate of the amount of premium payable for the desired term life insurance coverage and other policy benefits.

What Are Term Insurance Riders

Riders under term insurance are defined as additional benefits that help extend the protection of your term insurance protection.

Is Term insurance for family?

The primary benefit of term insurance plans is that they can serve as your family’s financial security net in the event of your sudden demise.

How much cover do I need in the iSelect+ term plan?

The primary purpose of purchasing a term life insurance plan is to provide a robust financial safety net to your loved ones, so that they have enough money to take care of their needs,

What are the criteria to buy the iSelect+ term plan?

iSelect+ Term Plan (An Individual Non-Linked Non-Par Pure Risk Premium Life Insurance Term Plan, UIN: 136N072V01) from Canara HSBC Life Insurance offers