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Term Insurance FAQ’s
A term insurance plan provides comprehensive and reliable financial security for your loved ones. Nowadays, having a term insurance plan is one of the most essential factor that leads to a successful and effective financial portfolio. This is because a standard term insurance plan serves as a tool for futuristic fiscal security and fund-growth.
1 Crore Term Insurance @Rs.19/day***
To delay is to regret
You may not always be around to take care of your family. And that’s when a term plan ensures your family is well protected.
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Return of Premium (ROP) Option^
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17% Online Discount**
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Same Day Claim Processing#
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100% Claims guaranteed15
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0% GST on Premiums#^#
Please wait while we are calculating term insurance premium for 1 crore
:1800-266-9777
10 FAQs on Term Insurance
Q.1: How do personal habits like smoking etc. matter while choosing a term insurance plan?
The premium terms generally vary from a smoker to a non-smoker and these terms are generally higher for a smoker as she/he comes in a high-risk category.
Q.2: How does a term insurance plan vary from an accidental insurance plan?
An accidental insurance plan specifically provides the death benefit in case the policy holder dies an accidental death. However, a term insurance plan includes death due to any reason, be it natural or accidental.
Q.3: Can the premiums change after a period of time?
This depends on several factors like the addition of riders, declaration of habits like smoking or drinking, or the nature of hazardous employment. For instance, if you choose a higher sum assured, such as a 10 crore term insurance premium, the amount payable might vary based on risk factors and additional benefits included in the plan. To get a clearer picture of how these factors could influence your payments, you can try a term plan premium calculator, which provides an estimate tailored to your profile and coverage.
Q.4: How does a term insurance differ from life insurance?
A life insurance policy includes maturity benefits while a term insurance plan includes no such benefits and simply entitles the nominee(s) of the policy holder to the sum assured in the event of the policy holder's demise during the plan term.
Q.5: Are there no maturity proceeds available with term insurance?
Many insurance providers now-a-days include the clause for return of premium, which entitles the policy holder to receive the paid premiums in the event of plan maturity, although this increases the payable premiums.
Q.6: Is the death of the insured person considered if she/he dies outside Indian Territory?
Yes. Term insurance, once in effect, entitles the nominee(s) of the person even if she/he has died outside India.
Q.7: Can multiple claims be entertained?
More than one claim from different insurers can be considered, as long as these claims and their specific nature were reported when the policy was purchased.
Q.8: Are NRIs eligible for purchasing term insurance in India?
Yes. NRI's who hold dual citizenship and qualify as citizens of India are eligible for purchasing term insurance in India.
Q.9: Are deaths under “Act of God” covered by the term insurance plans?
Unless provided in exclusions in policy document, death in relation to Act of God are not excluded.
Q.10: What are the tax benefits applicable for a standard term insurance plan?
Tax benefits under Section 80C are admissible for a term insurance plan to the tune of a maximum of Rs. 1.5 Lac in any given financial year.
HDFC Life offers various term insurance plans that are directed towards securing the financial future of your loved ones and at streamlining the monetary reserves for their exclusive benefits. For details, click on the mentioned link: https://www.hdfclife.com/term-insurance-plans.
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Francis Rodrigues
Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.
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Here's all you should know about life insurance.
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HDFC Life
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HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.
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@As per integrated annual report FY24-25, available on www.hdfclife.com. As of May 2025
#Provided we have received all the relevant and required documents and no further investigation is required. Claim settlement process would be completed within stipulated timelines once the claim request is approved
^ Available under Life & Life Plus plan options
***Online Premium for Life Option for HDFC Life Click 2 Protect Supreme(UIN:101N183V01), Male Life Assured, Non-Smoker, salaried, 20 years of age, Policy term of 25 years, Regular pay, Monthly frequency, inclusive of 15% online discount (applicable only for 1st year premium) & exclusive of taxes and levies as applicable. (Monthly Premium of 573/30=19).
**If a customer is a Salaried individual and has opted for a cover of INR 2 Cr with Limited pay, then the total discounts applicable shall be: 10% +7% = 17% discount on the first year premiums.
~Tax benefits of ₹ 54,600 (₹ 46,800 u/s 80C & ₹ 7,800 u/s 80D) is calculated at highest tax slab rate of 30% on life insurance premium u/s 80C of ₹ 1,50,000 and health premium (Critical illness rider) u/s 80D of ₹ 25,000. Tax benefits are subject to conditions under section 80C, 80D, 10(10D) as per Income Tax Act, 1961. Please consult your tax advisor for more information.
*Online Premium for Life Option, Male Life Assured, Non-Smoker, 20 years of age, Policy term of 25 years, Regular pay, Monthly frequency, exclusive of taxes and levies as applicable.
#^# Individual Life Insurance Policies issued on or subsequent to 22nd, September 2025, shall be exempt from GST under the provisions of the Goods and Services Tax, 2017.
15. HDFC Life Click 2 Protect Ultimate(UIN: 101N179V01) A Non-Linked, Non-Participating, Individual, Pure Risk Premium/Savings Life Insurance Plan. The policy must be in force on the date of death, with all premiums fully paid, except for the exclusion clauses mentioned in Part F of the policy document.
ARN: EC/06/2017/9792
