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Insurance is a subject matter of Solicitation

Term Insurance

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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.

Term Plan

Know more about Safebima Term Plan
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Term Calculator

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

Benefits of Term Insurance

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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.

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Critical Illnesses

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

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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+.

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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?

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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.

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Newly -married

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

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Young Professionals

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

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Tax payers

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

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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.

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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

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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.

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Terminal Illness

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

Documents Required To Buy Term Insurance

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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

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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

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All Insurance Company List

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  • 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.

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