• The policy is designed to cover financial responsibilities that may continue for the next two decades.
• You can choose the coverage amount based on your financial needs.
• Common eligibility criteria include an age of 18 to 60 years, income proof and health assessment.
• Riders such as critical illness and accidental death cover may provide additional protection, depending on the plan.
• If you survive the full 20-year term, the policy generally ends without a payout unless the policy provides otherwise.

A 20-year term can be useful when your major financial responsibilities have a defined timeline. Compare coverage options and choose a term insurance plan that fits your family's needs.

A 20-year term life insurance plan provides life cover for a fixed period of 20 years. If the policyholder dies during these 20 years, the beneficiaries receive the applicable death benefit, subject to the policy terms and conditions.

If the policyholder survives the full 20-year term, the policy generally expires without a maturity payout unless the policy provides otherwise.

This type of term insurance can be considered when you have financial responsibilities that you expect to continue for the next two decades, such as a home loan, other debts or your children's education.

Term life insurance can provide financial support to your family during the period when they may depend on your income.

• Fixed premium: The premiums remain unchanged throughout the 20-year period, making it easy to budget and plan.
• Death cover: A guaranteed death cover is paid out to beneficiaries if the policyholder passes away during the 20-year term.
• Customisable coverage: Policyholders can select the coverage amount based on their financial needs, ensuring adequate protection.
• Affordability: Term life insurance is generally more affordable than whole life policies, offering high coverage at a lower cost.
• No payout after the term: If the policyholder outlives the 20-year period, the policy expires without any benefit being paid unless a renewal option is available.

Term Insurance ensures financial security with high cover at low premiums. Don’t wait—protect your loved ones today! Get quote!

• Protection for two decades: Your family gets financial protection during the selected 20-year period.
• Support for financial responsibilities: The cover can help address liabilities such as home loans, car loans and children's education expenses.
• Income replacement: The death cover can provide financial support to the family if the insured dies during the policy term.
• Coverage based on your needs: You can select the sum assured according to your financial responsibilities.
• Additional protection through riders: Depending on the plan, you may be able to add riders such as critical illness or accidental death cover.

A 20-year term may make sense when your major financial commitments have a timeline of around two decades. Assess your coverage needs before choosing the sum assured. Explore plans and get quote!

Your health, income, occupation and other details may be considered when the insurer assesses your application.

Check the specific eligibility requirements of the plan before applying.

Below are key considerations:

• Coverage amount: Calculate your financial obligations such as mortgages, education fees, and living expenses to determine the right coverage amount.
• Premium costs: Ensure that the premium is affordable and fits your long-term budget, as you will need to maintain payments for the full 20 years.
• Policy flexibility: Look for a policy that offers the option to renew or convert into a whole life policy at the end of the term, providing greater flexibility.
• Riders and add-ons: Evaluate additional coverage options, such as critical illness riders or accidental death covers, to enhance the scope of your protection.
• Insurer’s reputation: Choose a trusted insurance provider with a strong track record in terms of claims settlement and customer service to ensure reliability.

It may be worth considering if you:

• Have a long-term home loan or other liability.
• Have children whose education expenses are still ahead.
• Want to replace your income for your family's financial protection.
• Want life cover for a defined period rather than lifelong protection.
• Prefer to plan your insurance around specific financial milestones.

The right policy term depends on when your family is likely to need your income and financial support.

1. Assess your financial goals: Consider your family's future expenses, liabilities and financial responsibilities.
2. Decide your coverage amount: Choose a sum assured that reflects the support your family may need.
3. Check the premium: Make sure the premium is manageable within your long-term budget.
4. Compare policy features: Review the available riders, premium payment options and other policy features.
5. Review exclusions: Read the policy terms, exclusions and conditions carefully.
6. Consider future responsibilities: Make sure the 20-year term aligns with important milestones such as children's education and other long-term commitments.
7. Check applicable tax benefits: Understand the tax treatment applicable to your premiums and benefits under the prevailing tax laws.

Tax laws are subject to change. BFL does NOT provide Tax/Investment advisory services. Please consult your advisors.

Once you know how much cover you need, compare available options to assess the premium and policy features that suit you.

A 20-year term life insurance plan provides life cover for a fixed 20-year period. It can help protect your family against financial uncertainty while you have responsibilities such as loans, children's education and regular household expenses.

Before choosing a plan, assess your required sum assured, premium affordability, policy features, riders and exclusions. Also consider whether 20 years matches the period for which your family is likely to need financial protection.

A well-chosen term plan can help you align your life cover with your family's financial responsibilities over the next two decades.