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Have you reviewed your 
premium before buying a term insurance plan? 

A term plan is a life insurance plan that provides financial security for the entire family in case of the unfortunate death of the policyholder.

It is essential to choose a policy with a premium that is within your budget in order to minimise the possibility of defaulting on premiums.

Term insurance plans offer various modes of premium payment such as lump sum, monthly, quarterly, half-yearly or annual basis.

When budgeting, it is advisable to account for term insurance premiums as essential expenses and set aside the necessary amount for life cover as a priority.


The premium of the policy will vary based on the sum assured under the plan; higher the sum assured, higher the premium.

A term insurance calculator can help in understanding the estimated premium for the coverage chosen.

It is crucial to account for any additional premium payable for certain riders that you may wish to purchase.

Ensure that the premium for the new cover is within your budget.

Click here to know more about 
term insurance plan. 

Check here for more life insurance related stories.

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Life Insurance: Have you reviewed your premium before buying a term insurance plan?

However, even though these policies come with a plethora of benefits, you need to closely examine certain factors before buying a term plan

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