• Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

How to Find Best Term Insurance Plan in Seven Steps

December 18, 2023
Securing your finances is as important as earning them and this is something that can never be taken for granted.  In the fast paced and capital-dominated world of today, having the due security for future is extremely important and indispensable. Apart from the financial goals for today, there is the requirement of a guarantee for life. This is why having an insurance plan to cover your future is very essential. A term insurance plan offers the benefit of providing the nominee(s) of the policy holder with the sum assured under the main corpus in the event of the policy holder's demise within the term of the policy. Although there are no maturity benefits if the subscriber survives the policy term, yet there are certain return-of-premium policies that entitle the subscriber to receive the benefits in the shape of paid premiums when the term matures.

When it comes to choosing a term insurance plan, there are certain factors which must be taken into consideration.

Following are the seven basic steps to be taken while choosing a term insurance plan:

  1. List out your specific needs:

    This is the basic step. You must have a clear idea about what exactly do you need and must plan accordingly. Keeping a track of your long term and short term goals allows you to have a set plan of action and is very important.
  2. Always compare before choosing:

    These days, the online mode has given much required freedom of choice and has simplified things to a large extent. You must visit the official portals of different insurer companies and compare the specific features of different plans being offered to know what best suits your interests.
  3. Keep your medical history and overall health in mind:

    While choosing a term insurance plan, it is very important for you to keep your current health conditions in mind as these impact your options directly. The presence of any pre-existing health conditions etc. has to be documented while purchasing the plan and you must choose a term plan accordingly.
  4. Match your goals with the plan features:

    You must always think futuristically and never make short term attractions affect the long term gains. This makes it very essential that you must match your specific goals in a futuristic sense with the features of the plan under consideration.
  5. Keep future in mind:

    Term insurance basically serves as a future guaranteed plans. It acts as a safeguard for the finances of your dependent relatives or family members. Therefore, any decision regarding insurance must be futuristic and must be made with an eye on the factors like inflation, projected cost fluctuations, future goals etc.
  6. Consider the premiums:

    This is very important. You must choose a plan that allows you to pay the premiums regularly with the equally matching benefits. The payable premium amount must be coherently proportional to the volume of coverage that the plan offers.
  7. Take a timely decision:

    This affects everything about the coverage options. If you take a longer time to take a decision, the cost of the plan may increase and the coverage terms may become limited as per your requirements. Therefore, you must take a timely and an informed decision on priority basis.

HDFC Life offers term insurance plans that offer multiple coverage benefits for the future financial needs of your family.

Related Articles


Click to Buy Term Plan



Show Full Article
Hide Full Article


ARN: EC/06/2017/9792

Francis Rodrigues 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.

LinkedIn profile

Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile

Reviewed By Reviewed By:
HDFC life
HDFC life


Reviewed by Life Insurance Experts


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.