How Much Term Insurance Can I Buy In India?

Term insurance is a type of insurance that covers the risk of death or the risk of an illness. It is also called temporary insurance because it lasts for a fixed period, until the end of the term, and when it expires. You can buy a term insurance plan sum insured between 1 lakh to 10 crores. It is based on how much protection you want by choosing the sum insured. The sum insured is the amount of money that will be paid out to your family in case something happens to you during the term of your policy.

Do I need to buy term insurance even if I am covered under my companys group policy?

Employer sponsored life insurance policy would be valid only till the time you are on the payroll of the organization. If is advisable to have a separate term insurance plan after analysing your liabilities and outstanding loans to maintain a healthy financial condition of your family in case of your sudden demise. It can also be noted that the company sponsored life insurance coverage would not be sufficient to meet your financial goals as the company offers minimum life insurance coverage without considering your liabilities.

Where to Buy Term Insurance?

There are several options for buying term insurance, including:

Online: Many insurance companies offer the option to buy term insurance online through their website or many online insurance web aggregators offer different insurance policies from different companies in one place. This can be a convenient option as you can compare rates and coverage options from multiple insurers.
Through Offline: Insurance agents can help you choose the right policy for your needs and provide personalized guidance throughout the process. You can find an agent through an insurance company or through an independent agent who represents multiple insurers.
Through your Employer: Some employers offer group term life insurance as an employee benefit. This can be a cost-effective option as the premiums are typically lower than individual policies. However, the coverage amount may be limited and may not be enough to meet your needs.

When buying term insurance, it's important to compare rates and coverage options from multiple insurers and to choose a policy that meets your specific needs and budget. It's also a good idea to review your coverage periodically and make adjustments as your circumstances change.

How to Buy Term Insurance?

Buy term Insurance Online at PolicyBachat by comparing the life insurance quotes from different types of term plans as per your requirement. Policybachat helps you to choose the best life insurance policy at an affordable process. If need help? Call: 1800 123 4003.

Do I Buy Term Insurance if I’m Covered under my Company’s Group Policy?

Employer sponsored life insurance policy would be valid only till the time you are on the payroll of the organization. It is advisable to have a separate term insurance plan after analyzing your liabilities and outstanding loans to maintain the healthy financial condition of your family in case of your sudden demise. It can also be noted that the company sponsored life insurance coverage would not be sufficient to meet your financial goals as the company offers minimum life insurance coverage without considering your liabilities.

Can I buy Term Insurance Online?

Yes, you can buy term insurance online from the portal where the top life insurance companies display their life insurance plans with the premiums to be paid as well as the features. For more assistance on the procedure to purchase term life insurance plans online please call our toll free number 1800-123-4003 and get assistance from our life insurance expert.

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