Income earners
People whose income supports a spouse, children, parents or other dependants.
Protection that keeps promises alive
Protect the people
Protect the people
who depend on you.
Plan a financial safety net for your family's living expenses, liabilities and important future goals with clear guidance on term insurance.
Needs-based guidanceClear policy checksClaim support
Family
Protection
Protection
Life coverFor the chosen policy term
Flexible optionsSubject to available plans
Life Insurance / Term Insurance, Simply Explained
A pure protection plan for your family's financial future
Term insurance is a life insurance plan that provides a death benefit to the nominee if the insured person dies during the active policy term, subject to the policy conditions.
Standard term plans generally do not provide a maturity benefit. Some products may offer return-of-premium or other features at an additional cost; always compare the exact policy wording.
Who May Need It?
Protection for responsibilities that continue
Parents
Those planning for a child's education, everyday care and long-term financial stability.
Borrowers
People with a home loan, business liability or other significant outstanding debt.
Business owners
Entrepreneurs whose family or business continuity depends on their financial contribution.
Cover Planning
Start with responsibilities, not a random number
A suitable cover amount is personal. Consider what your family may need, then account for resources already available.
Protection needIncome replacement + liabilities + future goals − suitable assets and existing life cover
Family expenses
Estimate essential household costs and the years of support required.
Outstanding liabilities
Include home, education, business and other important loans.
Future goals
Allow for education, family milestones and other planned commitments.
Existing resources
Review usable savings, investments and current life insurance before deciding.
Buying Process
Six careful steps to suitable protection
Assess
Map dependants and financial responsibilities.
Compare
Review benefits, terms, premium and service.
Disclose
Share accurate health, income and lifestyle details.
Underwrite
Complete medical tests if the insurer requests them.
Nominate
Add and regularly review nominee information.
Maintain
Pay premiums on time and keep records accessible.
Documents
Keep the essentials ready
- Accepted identity, address and age proof
- PAN and recent photograph
- Income proof requested for the chosen cover
- Health, occupation and lifestyle declaration
- Medical reports or tests, when required
- Nominee details and relationship proof, if requested
Claim Guide
What the nominee should know
Inform the insurer
Notify the insurer through its stated branch, portal, helpline or other accepted channel.
Submit documents
Provide the claim form, death certificate, policy details, nominee KYC, bank proof and any other requested records.
Assessment
The insurer verifies coverage, disclosures and circumstances in line with the policy and applicable process.
Decision and payout
An admissible claim is paid to the eligible beneficiary using the approved payout option.
Claim requirements can vary based on the circumstances of death and the policy. Keep the insurer's policy document and contact details accessible to the nominee.
FAQs
Frequently asked questions
Does term insurance return money at maturity?
A standard pure term plan generally has no maturity benefit. Return-of-premium variants may provide a defined survival benefit, subject to their terms and usually a different premium.
How much term cover should I take?
It depends on family expenses, outstanding liabilities, future goals, existing cover and suitable financial assets. A needs-based assessment is more useful than relying only on a fixed multiplier.
Will I need a medical test?
The insurer may request medical tests based on age, cover amount, health declaration, occupation, lifestyle and underwriting rules.
Why is accurate disclosure important?
Health, smoking, occupation, income and existing-policy details help the insurer assess the proposal. Incorrect or incomplete information can affect policy issuance and claim assessment.
Can riders be added to every plan?
No. Rider availability, eligibility, benefits and cost are product-specific. Review the rider wording separately before selecting one.
Are tax benefits available?
Eligible premiums or benefits may receive tax treatment under applicable law. Tax rules can change, so consider current rules and professional advice for your situation.
Ready to discuss your protection needs?
Talk to a FINANZIA insurance advisor
Share your age group, responsibilities and preferred cover. We will help you understand suitable options and the conditions that matter.
Disclaimer: Benefits, eligibility, premium, riders, exclusions, underwriting and claim acceptance depend on the selected insurer and policy wording. This page provides general information and is not personalised financial, legal or tax advice.