life-banner

Complete protection for your loved ones

The most cost-effective way of buying life insurance is through a pure term insurance plan. These are low- premium, high-cover protection plans where the premium is used entirely, except for a small portion used to meet administrative costs, for risk coverage.

Latest Blogs

insurance
Life Insurance

Kotak Life Insurance explains the factors to consider while choosing an online term plan

Buying an online term plan has become very common these days. The main reason behind this is the convenience they offer. The term plans can easily be bought in a

Read More
insurance
Child Insurance

Conventional Child or Term plus SIP for 15 Years Tenure?

Good financial planning is the secret of a successful family when it comes to wealth management for taking care of every major financial need of each of the family members.

Read More

Term Insurance

bottom-line

Term Insurance is purest form of life insurance. It gives very high risk cover for the lowest premium among all insurance plans. The motive is to give financial cover/security to your family in event of death of the insured person. This plan is most beneficial if you are the sole earning member of your family or your family is dependent on you or you bring the maximum share of income in your family.

video

Term Plan

Know more about Safebima Term Plan
typ1-invest-ulip

Term Calculator

Build financial security for a happy life without compromising on your living standard.
Calculate now

Benefits of Term Insurance

bottom-line
benefit-icon1
High Life Insurance

Term insurance plans provide large amount life insurance cover at an affordable premium. This cover can compensate for several years of lost earnings.

benefit-icon1
Critical Illnesses

Critical Illness Cover provides lump sum payments when a critical illness like a heart attack, cancer, kidney failure etc is first diagnosed.

benefit-icon1
Additional Security

To increase the security of your family, a Term Policy provides additional pay-out (up to `2 crores) in case of an accidental death+.

benefit-icon1
Tax Benefits

You also get tax benefits^^ subject to conditions under Section 10(10D) on the money that your family receives in case of an unfortunate event.

Who should buy a Term Insurance Policy?

bottom-line
3D_Life_Option
Parents support

Parents are generally the sole source of financial support for their children. The needs of children extend from school fees and living expenses to hefty university fees, later on in life.

3D_Life_Option
Newly -married

Roses, chocolates and movie tickets are great, but here’s a truly long lasting gift for your spouse – term insurance.

3D_Life_Option
Young Professionals

Young professionals are just starting their careers. Many of them are not yet married and have no financial dependents.

3D_Life_Option
Tax payers

Term insurance premiums paid are allowed as deduction from taxable income under Section 80C of the Income Tax Act, 1961^^.

3D_Life_Option
SIP Investors

SIP invest a fixed amount every month in a mutual fund. The wealth creation in an SIP is driven by a stream of regular installments which compound over time.

3D_Life_Option
Retired persons

Retired persons need to have term insurance if they have dependant spouses or families. Buying term insurance can also be a way of leaving an inheritance for their families

3D_Life_Option
Accidental Death

If you have opted for Accidental Death cover, your family will get additional pay out in case of death due to an accident, subject to maximum of `2 crore.

3D_Life_Option
Terminal Illness

Pays out your insurance cover even before death, if you are affected by a terminal illness.

Documents Required To Buy Term Insurance

bottom-line

Age Proof --> Birth Certificate, 10th or 12th mark sheet, Driving License, Passport, Voter ID, etc.(Any one)

Identity Proof --> Driving License, Passport, Voter ID, PAN Card, Aadhar Card, which proves ones citizenship

Address Proof --> Electricity Bill, Telephone Bill, Ration Card, Driving License, Passport, should clearly mention the permanent address

Income Proof --> income proof specifying the income of the person buying the insurance

Proposal Form --> duly filled in proposal form is required

Medical Tests --> Some companies may require medical check-up in order to make sure that the insured does not suffer from any chronic illness.

Need Of Buying Term Insurance

bottom-line
Financial security

Term insurance plans are an excellent way to build a financial safety net

Flexible Payment

Term insurance plans offer you coverage for a fixed term.

Low brokerage

In case you opt for an offline term insurance policy, you will be paying the lowest amount as broker commission.

Tax benefits

Last, but not the least, premiums paid towards a term plan is eligible for tax benefits under Section 80C of the Income Tax Act.

Sufficient coverage

You can choose the sum assured under term insurance policies so that it offers you sufficient coverage.

Concepts & FAQ's Term Insurance

bottom-line
What Are Riders?
Riders are optional added benefits you can top-up your term insurance with Accident Cover and the Waiver of Premium are the most popular riders, on payment of additional premium.
How Do You Decide On The Tenure Of The Policy?
Now, that would also depend on how early you purchase your term insurance policy. The earlier you buy one, the longer you can be covered. The thumb rule is to buy a policy for the maximum tenure possible, and drop it when it is no longer required.
What Are The Types Of Death Covered In Term Insurance?
Nearly all types of death are covered in term insurance, including natural death and death due to accidents or illness. However, there are exceptions. For example, death due to a natural disaster or an 'act of God' and death due to terrorist attacks might not be covered.
How can I apply for liability only insurance online?
To apply for liability only insurance policy, please visit motor third party liability. Kindly share the required details of the vehicle including the first registration date and policy expiry date in the message box.
Is it secure to buy term insurance plans online?
Online transactions are completely secure and are done directly on the insurance company’s website. Today almost all financial transactions including banking, stocks, etc have moved completely online. Even Indian Railways and Airline ticketing is completely online and lacs of people are making online payments everyday.
How much Sum Assured / cover should I take in a term plan?
The amount of Life Insurance coverage you need will depend on many factors such as:How many dependants you have, What kind of lifestyle you want to provide for your family,How much you need for your children’s education.

All Insurance Company List

bottom-line
  • 1. Edelweiss Tokio Life Insurance Company Limited
  • 2. HDFC Life Insurance Co. Ltd
  • 3. Max Life Insurance Co. Ltd.
  • 4. ICICI Prudential Life Insurance Co. Ltd
  • 5. Kotak Mahindra Life Insurance Co. Ltd
  • 6. TATA AIA Life Insurance Co. Ltd.
  • 7. Aditya Birla SunLife Insurance Co. Ltd.
  • 8. SBI Life Insurance Co. Ltd.
  • 9. Exide Life Insurance Co. Ltd.
  • 10. Bajaj Allianz Life Insurance Co. Ltd.
  • 11. PNB MetLife India Insurance Co. Ltd,
  • 12. Reliance Nippon Life Insurance Company Limited,
  • 13. Aviva Life Insurance Company India Ltd.
  • 14. Sahara India Life Insurance Co. Ltd.
  • 15. Bharti AXA Life Insurance Company Ltd
  • 16. Future Generali India Life Insurance Company Ltd.
  • 17. IDBI Federal Life Insurance Company Limited
  • 18. Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited,
  • 19. Aegon Life Insurance Company Limited,
  • 20. DHFL Pramerica Life Insurance Co. Ltd.
  • 21. Star Union Dai-Ichi Life Insurance Co. Ltd.
  • 22. IndiaFirst Life Insurance Company Ltd.

Disclaimer !

This is to inform that safebima.com do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.

safebima

7303460176

General Insurance

Investment

About Us

Others

Scroll Up