Top Reasons To Buy Term Insurance

Protecting your family’s financial future is one of the most important decisions you can make. Life is unpredictable, and having a safety net in place ensures that your loved ones are secure even in your absence. Term insurance is one such financial tool that offers high coverage at affordable premiums, making it an essential part of any financial plan.

With coverage options starting at just Rs. 15 per day* for a sum assured of Rs. 1 crore at Bajaj Finance Insurance Mall, term insurance is not only cost-effective but also provides peace of mind. Explore the top reasons why buying a term insurance policy is a wise choice for safeguarding your family’s future.

Affordable life cover at low premiums

One of the most appealing aspects of term insurance is its affordability. Compared to other life insurance products, term insurance offers high coverage at significantly lower premiums. This makes it an ideal option for individuals looking to secure their family’s future without straining their current finances.

For example, a 30-year-old non-smoker can purchase a term insurance policy with a sum assured of Rs. 1 crore for as little as Rs. 450 per month* (the premium may differ from insurer to insurer and plan chosen). This cost-effective nature ensures that even individuals with modest incomes can provide substantial financial protection for their families.

Why this matters: In the event of an untimely demise, the payout from a term insurance policy can help your family manage expenses, clear debts, and maintain their standard of living.

Pro tip: Use a premium calculator to estimate your monthly costs and find a plan that fits your budget.

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

The primary purpose of term insurance is to provide financial security to your family in your absence. Whether it is covering daily expenses, paying off loans, or funding your children’s education, the lump-sum payout from a term insurance policy act as a financial cushion for your loved ones.

For example, if you have a home loan or any other significant liability, a term insurance policy ensures that your family will not have to bear the burden of repayment. Similarly, it can help fund long-term goals like your child’s higher education or marriage.

Why this matters: Life’s uncertainties should not derail your family’s future. A term insurance policy ensures that their dreams and aspirations are not compromised, even if you are not around.

Secure your family’s future milestones—Explore term insurance plans today and get quote!

Another compelling reason to invest in term insurance is the tax benefits it offers. Under Section 80C of the Income Tax Act, premiums paid towards a term insurance policy are eligible for tax deductions of up to Rs. 1.5 lakh annually. Additionally, the death cover received by the nominee is tax-exempted under Section 10(10D).

These tax savings can be significant, especially for individuals in higher tax brackets. By investing in term insurance, you not only secure your family’s future but also reduce your taxable income.

Why this matters: The dual advantage of financial protection and tax savings makes term insurance a smart investment choice.

Term insurance policies are designed to cater to diverse needs. They offer flexible policy terms ranging from 10 to 40 years, allowing you to choose a duration that aligns with your financial goals.

Additionally, you can enhance your coverage with optional riders such as:

Critical illness rider: 

Provides a lump-sum payout if you are diagnosed with a critical illness like cancer or heart disease.

Accidental death rider: 

Offers additional compensation in case of death due to an accident.

Waiver of premium rider: 

Waives future premiums if you become permanently disabled or are diagnosed with a critical illness.

Why this matters: Flexibility ensures that your term insurance policy evolves with your changing life stages and financial responsibilities.

Pro tip: Align your policy term and riders with key milestones such as loan repayment or your child’s education.

Personalise your term insurance with riders—Compare plans now and get quote!

Peace of mind through life coverage

In today’s fast-paced world, peace of mind is priceless. Knowing that your family’s financial future is secure, regardless of what life throws at you, is a significant relief. Term insurance provides this assurance by offering guaranteed life coverage for a fixed period.

Moreover, many insurers offer a free-look period, allowing you to review the policy terms and opt out if you are not satisfied—ensuring a risk-free purchase decision.

Why this matters: Term insurance is not just a financial product; it is a promise to protect your loved ones and their aspirations.

Enjoy peace of mind with guaranteed coverage—Get instant quotes in just a few steps!

Conclusion

Term insurance is more than just a financial product—it is a commitment to your family’s well-being. With its affordability, high coverage, tax benefits, and flexible options, it is an indispensable tool for securing your loved ones’ future.

Do not wait for tomorrow to protect what matters most. Take the first step today by exploring term insurance plans that align with your needs and budget. Compare plans and get quote!