About Term Insurance

Term insurance is a pure protection life cover that provides a lump sum to your nominees if you pass away during the policy term. It offers high coverage at relatively low premiums.

Key Features:

• Pure risk cover with no maturity benefit.
• High sum assured at affordable premiums.
• Flexible policy terms (typically 5–40 years).
• Optional riders like critical illness or accidental death (extra premium).
• Tax benefits on premiums under Section 80C and tax-free death benefit under Section 10(10D).

Factors Affecting Premium:

Factor	Impact on Premium
Age	Higher age → higher premium due to higher mortality risk.
Coverage Amount	Larger sum assured → higher total premium.
Policy Term	Longer term typically increases premium but gives longer protection.
Health & Lifestyle	Pre-existing illnesses or risky lifestyle can increase premium.
Smoking Status	Smokers generally pay significantly higher premiums.

This calculator provides an approximate premium using simplified assumptions. Actual premiums will vary by insurer, underwriting, and detailed medical/financial assessment.