Secure your family's financial future even when you're not around. Understand life insurance — what it is, how much you need, and which plan suits you best.
Life insurance is a promise — you pay premiums regularly, and if something happens to you, the insurance company pays a large sum (called the death benefit) to your family.
This money helps your family pay their daily expenses, children's education, home loan EMIs, and other costs — even without your income.
Some life insurance plans also build savings or investments over time, giving you money back at maturity if you survive the policy term.
These are the situations where life insurance becomes your family's lifeline.
If you have a home loan, your family could lose the house if they can't pay the EMIs. Life cover pays off the loan completely.
Ensure your children's dreams don't stop because of your absence. Life insurance funds their education even without you.
If you're the primary earner, your family needs a replacement for your income to maintain their lifestyle and meet daily needs.
Premium paid for life insurance qualifies for deduction under Section 80C (up to ₹1.5 lakh). The death benefit is tax-free under Section 10(10D).
Choose wisely — each plan serves a different purpose.
Pure protection. Pays a large sum to your family if you pass away during the policy term. No maturity benefit — but the most affordable and recommended for maximum coverage.
Combines insurance with market-linked investments. Part of your premium goes into mutual fund-like investments. Returns depend on market performance.
Pays a lump sum either on death during the term OR at maturity if you survive. Guaranteed returns with insurance protection — conservative and safe.
Pays out a percentage of the sum insured at regular intervals (every 4–5 years) during the policy term, with full payout at maturity or on death.
Covers you for your entire life — not just a fixed term. Usually until age 99 or 100. Best for wealth transfer and estate planning.
Specifically designed to secure your child's future — education, marriage, career. Pays out at key milestones even if something happens to the parent.
Most people are under-insured. Here is how to calculate the right amount.
The simple rule: multiply your annual income by 10 to 15. If you earn ₹8 lakh per year, you need ₹80 lakh to ₹1.2 crore of life cover. This replaces your income for your family over time.
Add your home loan, car loan, and personal loan outstanding amounts. Your life cover should be enough to clear all these so your family doesn't inherit your debts.
Your children's education costs, their marriage, your spouse's retirement — include these in your calculation. What does your family need to live comfortably for 20–25 years?
Subtract existing savings, investments, and EPF balance. The remaining amount is your pure life insurance requirement. Buy that much and you're fully protected.
Every year you delay, the premium increases. A 25-year-old pays ~₹8,000/year for ₹1 Cr cover. A 35-year-old pays ~₹16,000 for the same cover. Start today.
22+ years of insurance advisory experience
Buy term insurance as early as possible and never mix insurance with investment. A ₹1 Crore term plan at age 25 costs just ₹700 per month — that's ₹23 per day for complete peace of mind. Then invest the remaining money in mutual funds or PPF separately for better returns. The biggest financial mistake a family can make is not having enough life insurance. I have seen families lose everything because the earning member passed away without coverage.