• Assess the life cover required for household expenses, outstanding loans and future goals.
• Compare plans based on coverage, premiums, policy tenure and applicable features.
• You can apply for term insurance online or offline, depending on your preference.
• Depending on the policy, riders can provide additional protection for specified events such as critical illness, accidental death or disability.
• Eligible life insurance premiums may qualify for tax benefits subject to the applicable tax regime and conditions. 

The applicable death cover can help the nominee manage regular expenses, outstanding liabilities and other financial commitments after the loss of income.

What makes term insurance relevant?

• Cost-effective life cover: Term insurance can provide substantial life cover at relatively affordable premiums when your primary need is financial protection.
• Protection for dependants: The applicable death cover can provide a lump-sum payout to the nominee after a covered death during the policy term.
• Flexible coverage: You can select the sum assured and policy tenure according to your financial circumstances.
• Support for liabilities: The payout can help your family manage outstanding home, personal, business or other eligible loans.
• Additional protection: Depending on the policy, you may be able to add riders for specified risks such as critical illness, accidental death or disability.

Assess your financial responsibilities before deciding the amount of life cover you need.

How can the payout help?

• Meet regular expenses: The payout can support household costs after the loss of the policyholder’s income.
• Manage outstanding liabilities: Your nominee can use the amount to address eligible loans and other financial commitments.
• Support future goals: The financial support can help the family continue planned goals such as higher education.
• Provide a choice of payout: Depending on the policy, the death cover may be paid as a lump sum or through another permitted payout structure.
• Extend protection through riders: Available riders can provide additional cover for specified events, depending on the policy terms.
• Preserve financial independence: Life cover can reduce the need for dependants to rely solely on existing savings after a loss of income.

To find an affordable term insurance plan, you must consider the following factors when choosing a plan:

• Assess your coverage requirement: Consider your family’s regular expenses, outstanding loans, future financial goals and the income that may need to be replaced.
• Compare available plans: Review the coverage, policy term, premium and features before making a decision. You can use platforms like Bajaj Finance Insurance Mall, where you can compare plans from different insurers and get quote easily online.
• Use a premium calculator: A term insurance calculator can help you estimate the premium based on your selected cover and personal details.
• Share accurate health information: Your health, smoking or tobacco use and other information can affect underwriting and the premium offered.
• Start early when possible: Buying cover at a younger age may help you access lower premiums because age is one of the factors used in premium calculation.
• Choose the policy term carefully: Select a tenure that covers the period when your family is likely to depend on your income. A longer policy term should not automatically be assumed to mean a lower premium.

Check your coverage needs and premium estimate before choosing a term insurance plan. Get quote!

How do you buy a life insurance plan online?

Buying a life insurance plan online can take a few minutes, depending on the application and information required. You can compare available plans and complete the process without visiting a branch through the insurer's official website or platforms like Bajaj Finance Insurance Mall that hosts plans offered by leading insurers in India.

To compare and get quote through Bajaj Finance Insurance Mall, you can follow the below steps:

1. Click on ‘Get Quote’: Open the life insurance page and select ‘Get Quote’ to begin the online application.
2. Enter your basic details: Provide your name, mobile number, email ID, date of birth and gender to generate a personalised premium estimate.
3. Share additional information: Enter details such as your lifestyle, occupation, education, income and PIN code, then select ‘View Plans’.
4. Review the available plans: Compare the premium, coverage, policy details and applicable rider options.
5. Select a plan and apply: Choose the plan that matches your requirements and select ‘Buy Now’ to proceed.
6. Complete the next steps: An authorised representative may contact you to explain the available products and guide you through the remaining application and documentation requirements.

How does the offline process work?

You can also discuss term insurance with an insurance representative before completing your application.

1. Meet an insurance representative: Discuss your financial responsibilities and the type of life cover you are considering.
2. Understand the available options: Review the coverage, policy term, premium and other applicable policy features.
3. Provide the required information: Complete the proposal form and submit the documents requested by the insurer.
4. Complete premium payment: Pay the applicable premium using the payment method available for the policy.
5. Review the policy documents: Check the key policy details and conditions after issuance.

Here is a quick comparison of term insurance and other types of life insurance policies:

The choice depends on your financial objectives. Term insurance can address a need for defined-period life protection, while other life insurance products may combine protection with savings or investment objectives.

Term insurance in Devangere can help create financial protection for your family during the selected policy term. The applicable death cover can support your nominee in managing household expenses, liabilities and other financial commitments.

Before choosing a policy, assess the coverage your family may need, compare available plans and review the policy terms and applicable riders. You can then complete the application online or offline based on your preference.