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Term Insurance

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.

If you haven’t got one, get it right now.

Term Insurance Plans Buying Guide
1800-266-9777 (All Days, from 9am to 9pm, Toll Free)

Do these questions worry you?

  • Listing Bullet Is my family financially secure if something happens to me?
  • Listing Bullet Will my loved onces have to compromise their living standards if my income stops?
  • Listing Bullet Will the repayment of expensive loans burden my family in the event of my death?
Do these questions worry you?

Benefits of Buying Term Plan


Here are some benefits of purchasing a term insurance policy

High protection at low premiums

Life insurance policies are accessible to the masses since they provide a large cover at relatively low premiums. The earlier in life you purchase term insurance, the lower the premium.

Add ons

Due to unfortunate circumstance, the policyholder may be incapacitated due to an accident or the diagnosis of a critical illness. This would impact the income earning capability of the policyholder. In such cases, the policyholder’s family may find it difficult to manage expenses. To protect oneself against such scenarios, one can consider augmenting the term insurance plan with multiple add-ons or riders. Examples of some of these add-ons include critical illness coverage, accidental disability rider etc. A critical illness cover would provide a lump sum amount which is equivalent to the death benefit if the policyholder is diagnosed with any of the covered critical illnesses. The accidental disability rider will ensure that the policyholder gets paid a regular monthly income which would be a certain percentage of the sum assured for a specified period.

Financial security

The death of the breadwinner of the family is not only distressing, but it also brings about financial liabilities. Life insurance ensures that daily expenses do not suffer as a result of the insurer’s death. The pay-out resulting from the insurance policy can be received in the form of a lump sum or in the form of instalments to enable the family to cope with their living expenses.

Why You Should Buy Term Insurance?

Term insurance is a simple product and is easy to understand. Here are reasons to buy term insurance:

Low premium and attractively large cover
The coverage offered by a term insurance policy can be substantial and the premium for such a cover would be quite affordable. Thus such a product should be at the foundation of one’s financial portfolio as it offers excellent protection

Financial dependents are protected
The primary purpose of a term plan is to protect the financial dependents of the policy holder in the case of the latter’s unfortunate demise. The death benefit offered by a term life insurance policy can be substantial and enable financial dependents to manage livelihood related expenses as well as achieve their financial goals. Therefore a term insurance policy would offer tremendous peace of mind to the policyholder as the well-being of the financial dependents would be taken care off even in the former’s absence.

Insure your assets
In the absence of the primary income earner, financial dependents might be forced to sell assets to arrange for funds to manage daily expenses. For example: financial dependents may either have to sell the house or investment portfolio to arrange for funds. This could have a negative impact on their long term well being. Instead, the death benefit offered by a term insurance plan can provide substantial funds to manage daily expenses or for any other purpose. Thus assets that can provide tremendous value over the long term need not be liquidated.

A term insurance policy can be equipped with multiple riders. These riders are quite useful and can augment a term insurance policy by offering enhanced protection. Some of these riders include accelerated death benefit rider, accidental death benefit, critical illness rider, waiver of premium rider etc. Including these riders may bump your premium slightly but the value that you would get out of them could be tremendous.

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Term Insurance Plans

The most cost-effective way to secure your family’s financial future.

HDFC Life Click 2 Protect Life

A plan that provides benefits to you as per your altering lifestyle and life stage needs.

UIN: 101N139V01

  • Option to avail cover for Whole of Life1.

  • Get income payouts from age 60 onwards under Income Plus Option.

  • Get additional Sum Assured on Accidental Death (through ADB option).2

  • Get back all premiums paid on survival till maturity with Return of Premium option3.

  • Enjoy special premium rates for female lives and non-tobacco users.

  • Avail Waiver of Premium on diagnosis of Critical Illness(through WOP CI option).2

How much life insurance do you need?

How much life insurance do you need?

Use our quick and simple calculator to know what’s ideal for you.


Personal Details


Financial details

Your Required life cover to protect your family’s future is


Recommended plans for you

The values shown here are only for illustration. The results are generated based on the information provided. It is not intended to be and must not alone be taken as the basis for an investment decision.

HDFC Life Saral Jeevan Bima

Get easy, affordable life insurance cover at the click of a button.

UIN: 101N140V01

  • Flexibility to choose your premium payment terms.

  • Single, Limited and Regular premium payment options to choose from.

  • Get additional protection through riders.

Term Plans are simple to understand!

Tune in to this video to know all about Term Plans.

Term Insurance Buying Guide

1 What is Term Insurance?

Term Insurance is a life insurance policy that offers coverage for a fixed number of years - the “term” of the policy. If the insured individual dies when the policy is active, a death benefit is paid to the nominees of the insured individual.

A basic variant of term insurance has no cash value which means, if the insured person survives the term of the policy, the policy does not return any value, with the exceptions of plans like Return on Premium etc.
You can purchase a term insurance policy which can provide a certain corpus to your dependents in event of your demise, they would be able to sustain the same lifestyle or pay off existing liabilities without compromising on their dreams thanks to the sum assured which they would receive from life insurance.

2 How Else Will a Term Plan Help You?

3 Who Should Buy Term Insurance?

4 How to Calculate the Amount of Insurance Cover that You Need?

5 Types of Term Plan

Term plans with many flexibilities and additional benefits are available aplenty. The most popular propositions/plans available in the market are described below. You can choose one based on your insurance needs.

6 Add-Ons to Your Term Insurance

Additional benefits/risk covers might be built-in some term plans making them more comprehensive. A comprehensive term plan aims to cover the financial risks associated with death, disease and disability (3D). Some of these risk covers are in-built and some are offered as riders or add-ons by charging an additional premium. Some of the most popular riders or add-on covers are:

7 Benefits of purchasing Term Insurance Online

8 How to buy Term Insurance Plan

Purchasing insurance online is an easy process. One should keep scanned copies of passport size photo, address proof, age proof, identity proof and income proof handy. It is important to be completely aware about the medical history of the person who is going to get insured. If the questions posed by the portal are answered incorrectly, this would have an impact while fIling claims.

  • before

    Go to the website of your chosen insurance provider. Select the plan that meets your requirements

  • before

    Provide the personal details asked for by the portal. These typically include:


    Smoking Habit

    Date of Birth

    Policy term

    Sum insured

    City of residence

  • before

    On the basis of these details, the company would generate a quote for you. That is, it will let you know the annual/ monthly premium to be paid to get the insurance cover

  • before

    If you get stuck on any of the steps, you can call the customer care for assistance. Most portals also have an option to chat with customer care executive without closing the form.

  • before

    If you are happy with the quote, as the next step you will have to provide additional information the company needs for the policy document

    Employment details

    Nominee’s name and address

    Your address

    Health details

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    Make the payment online through any of the available digital banking modes.

  • before

    If you opt to not use e-verification, the insurance provider would give various options to submit the required documents including uploading scanned copy, door pickup, or even sharing a copy via Whatsapp.

  • before

    A copy of the insurance policy will be emailed to your registered email id.

9 Dejargonifying Term Insurance

  • Coverage/Cover -

    The extent to which an insurance policy covers the insured individual.
    For example – Consider an individual who purchases an insurance policy which offers cover of Rs 1 crore. If he passes away while still being protected under the insurance policy, his dependents would receive the cover of Rs 1 crore.


  • Premium -

    The insurance premium is the amount that is periodically paid by the insured party to the insurer.


  • Accidental Death Benefit -

    The additional benefit paid out in case the death occurs in an accident.


  • Annuity -

    Periodic payments made by the insurer to the nominee for a specified period or till survival.


  • Death Benefit -

    The amount that will be paid in the event of the death of the insured.

10 Term Insurance Plan Made for You

HDFC Life Click 2 Protect Life is a term insurance plan that offers plan options to accommodate various scenarios.

Here are the 3 plan options for you to pick from.

Life & CI Rebalance Option

A smart cover which aims to achieve a balance between Death and Critical Illness benefit as you go along in your life. Critical Illness cover increases at each policy anniversary with corresponding reduction in Life Cover. In addition, all future premiums are waived off on detection of any of the covered Critical Illnesses and the life cover continues.

Life Protect Option

Under this plan option, a lump sum is provided on death of the life assured.

Income Plus Option

Under this plan option, the Life Assured is covered for the entire policy term and also receives a lump sum payout on maturity along with regular income starting from age 60.
Now that you know all about term insurance, pick the most suitable option to PROTECT YOUR FAMILY.

Term insurance is incomplete without these riders.

They help you deal with those additional risks life brings.
  • icon

    HDFC Life Income Benefit on Accidental Disability Rider

    UIN: 101B013V03

    Get additional income benefits over and above your Sum Assured in the event of total permanent disability due to an accident.

  • icon

    HDFC Life Critical Illness Plus Rider

    UIN: 101B014V02

    We pay a lump sum amount equal to Rider Sum Assured upfront if diagnosed with of any of the specified critical illnesses.

  • icon

    HDFC Life Protect Plus Rider

    UIN: 101B016V01

    Get protected with a proportion of Rider Sum Assured in case of accidental death or partial/total disability due to accident or diagnosed with Cancer

Still not sure which is the right plan ?

Still not sure which is the right plan ?

Let us help you


Have a question?

We’ll tell you everything you need to know about Term Insurance.

1 What is the age limit to buy a Term Plan?

The age limit within which an individual may purchase a term plan range between 18 to 65 years.

2 Why is the term insurance premium amount for smokers higher than that of a non smoker?

3 Is COVID-19 covered by HDFC Life?

4 What kinds of deaths are not covered in term insurance?

5 What documents are required to buy a term plan online?

To buy term insurance, you will need to submit the following documents:

1. Any one of these Officially Valid Documents as ID and Address Proof:

Passport, Voter’s ID, Aadhaar Card, PAN Card, National Population Register containing details of name, address and Aadhaar number, or any other Central Government issued document

In case Officially Valid Documents does not contain updated address, you may submit any one of the following as Address Proof:

Property or Municipal Tax Receipt, Utility Bill of electricity, telephone, post-paid mobile connection, piped gas, water not more than two months old, Pension or family pension payment orders (PPOs) issued to retired

2. Any one document can be used as Income Proof for the Salaried:

Bank statement showing salary credit for the latest 3 months, Latest year Form 16, Latest 2 years Income Tax Returns

3. Any one document can be used as Income Proof for the Self-Employed:

Form 26 AS, CA certified Audited balance sheet and profit loss account for latest 2 years, Latest 2 years Income tax returns not filed in the same year along with Computation of income. If the computation of income is not available, you will need to provide the income tax returns for the last 3 years.

6 Can I have multiple term insurance policies?

Yes, you can have multiple term insurance policies in order to ensure that your loved ones can achieve their life goals in the case of any unfortunate event. They can also manage to pay off liabilities such as loans in your absence.

7 Does Term Insurance Plan cover death or heatlh related issues?

Yes, the HDFC Life Term Plan covers issues related to health and death. There are riders that come with the term plan among which are the basic death benefits and health benefits that you can avail in accordance to your needs. Being the cheapest and one of the most affordable types of insurance available, term insurance plans serve to provide protection with a life cover for your family.

The critical illness rider can be opted for protection from a critical illness. In such a case, you will receive the sum assured upon diagnosis. This is in addition to the benefits that are to be received in case of death during the policy term.

In case of unforeseeable events within the policy term, the nominee that you chose while filing for the term insurance receives the death benefits. The nominee, who is also referred to as the beneficiary, receives a lump sum amount as part of death benefits.

8 Should I buy a term plan or a traditional life insurance plan?

It is a smarter move to invest in term insurance plans in comparison to traditional life insurance policies. While both cover the risk of premature death, the difference between term insurance and life insurance lies at the point of maturity.

A conventional life insurance plan with maturity benefits, like moneyback policies, endowment policies, retirement policies, etc., is typically 10 times its premium amount. From the perspective of wealth creation, such products provide 3% to 4% interest rate which is largely what you get had you kept your funds in your savings bank account. With term insurance policies your net gain is higher in comparison to a life insurance product that comes with a maturity benefit.

However, the choice needs to be on the basis of your life goals.

Other benefits that make buying a term plan a wise decision are:

Death Benefit: Even though term life insurance provides a death benefit in the event of the policyholder’s demise prior to the maturity of the term policy as opposed to life insurance offering both death and maturity benefit, the compensation offered by a term insurance policy's much higher.

Low Premiums: Term plans offer higher risk coverage on low premium but does not create wealth like life insurance policies.

Flexibility: It is a much simpler process to surrender term plans compared to conventional life insurance policies.

9 Can I change the frequency of payment for my term insurance policy?

There might be instances when you would like the change the premium payment frequency.

“For example - If you have been paying your premium yearly, you might want to change it to monthly or if you have been paying your premium monthly, you might want to change it to yearly.”

With HDFC Life’s term insurance policy, you can change your premium payment frequency anytime.

10 Can you cash out term insurance policy?

Term insurance plans generally do not offer maturity benefits, so they do not have any cash value. Given this, it is not possible to cash out a term insurance policy. The policy will only provide a cash benefit in case something happens to the insured individual.

11 Do term insurance plans offer tax benefits?

Yes. The premium you pay for the upkeep of your term plan, up to INR 1,50,000 per year, is tax-deductible under Section 80C of the Income Tax Act, 1961. Additionally, the payout you or your nominee receive will also be tax-free under Section 10(10D)

12 What is the policy term that I should select?

Ideally, you should select a term for your whole life or one that will see you through until your retirement. You can purchase a policy when you’re in your 20s for affordable premiums in the coming years

13 Should you opt for Limited pay or regular pay term insurance plan?

Your decision should depend on your financial ability to pay premiums. If you can afford small regular payments, you can commit to a regular pay term plan. With this option, you can pay every month, quarter, six months or year. Conversely, if you can afford to payhigher premiums quicker, you can opt for a limited pay option.

14 Can I change the frequency of life cover after the term insurance policy is issued?

Yes, many insurance providers will allow you to change the frequency with which you make premium payments toward your term insurance plan. But, you will only be able to make the change when the policy is up for annual renewal.

15 Do you get your money back at the end of the policy term on survival?

This depends on the type of plan you purchase. If you have a return of premium policy, the insurance provider will return the premium amount once the policy expires. Most regular term plans do not offer any monetary benefit at the end of the policy term if the insured survives.

16 What if I become NRI after purchasing a term plan?

If you happen to shift residence out of India after purchasing a term plan, you must let your insurance provider know about the upcoming shift in writing. The company will then confirm whether they will keep your policy active or not. Typically, they will keep your policy going as long as you pay the premiums on time. However, some policy providers will not cover risks in particular countries. So, make sure you document their approval before you move.

17 Why should I buy a term insurance policy?

Term insurance policies provide your loved ones with financial security at a particularly difficult time in their lives. Additionally, depending on the term plan you choose, you can also secure your own financial future in case you’re diagnosed with a critical illness or you meet with an accident that leaves you permanently disabled.

18 How much cover should I take in a term insurance plan?

The amount of coverage that you should ideally opt for in a term plan can be determined with the help of several parameters.

  • Current Annual Income: The generally accepted thumb rule is 20 times your current annual income which more or less factors in all possibilities like life cover, high inflation, and the rising costs of living that helps to decide your overall term insurance plancoverage.
  • Current and Future Financial Commitments: Outstanding loans and debts are yet another key factor that is considered when determining your term policy coverage. If you are the primary breadwinner of the family, you must opt for a large enough coverage that will secure your family, take care of ongoing and future financial obligations in your absence.
  • Financial Goals: Factor in all liabilities that you need to meet in the future when deciding on the sum assured for your term insurance plans. The whole point is to make sure that your family is able to maintain their lifestyle and meet financial goals in the event of your sudden demise.
  • Age at the time of Policy Purchase: You can use the term insurance calculator to reach a decision. 20x of current annual income if you are in your 20s, 15x of annual income if you are in your 30s, and 10x of annual income for those in their 40s. Remember to add any outstanding debt to this calculation too.

Duration of the Coverage: It is best to purchase young and opt for a maximum tenure of coverage on your term plans.

19 What are the inbuilt benefits offered under HDFC Life Click 2 Protect Life Term Insurance Plan?

When you opt to purchase HDFC Life’s Click 2 Protect Life Term Insurance plan, you can enjoy the following benefits:

Sum assured paid to your nominee in case anything happens to you

  • Return of Premium is payable on maturity if you outlive the policy term
  • Waiver of future premiums in case you are diagnosed with a critical illness
  • Payment of the decided sum assured on diagnosis of a critical illness
  • Payment of the decided sum assured if an accident renders you permanently disabled

*The above benefits are for different plan options & add-on benefits. Please refer the product brochure for detailed understanding

20 Can the nominee be changed after I have purchased the term insurance policy?

Yes. After you have purchased a term insurance policy, you are free to update the name of your nominee at any time. You may want to add a spouse after you get married or add your children as nominees as well.

21 Do I need to buy term insurance even if I am covered under my company's group policy?

It’s a good idea to purchase an individual term plan even if you’re covered under your company’s group policy. Group term plans often do not offer very high cover amounts. Individual plans, on the other hand, can be customised to suit your individual needs. You can decide your sum assured and how you’d like the payouts to be made to your nominees. Individual plans also offer continuous cover, which may not always be the case with group plans. If you happen to leave the group, you will no longer enjoy the life cover offered, which leaves you and your family with significant financial risk. With both an individual and a group policy, you can enjoy enhanced cover at all times, irrespective of whether you opt to change your job at any time.

22 What happens to the term insurance policy if the premium is not paid before the due date?

With a term insurance policy, if the insured individual fails to pay the premium before the due date, the policy will automatically lapse. This means that you will have to forfeit all the premiums paid so far and the insurance benefits. If you would like to get life cover again, you will likely have to purchase an entirely new policy.

23 What happens to a term insurance policy if the insured individual outlives the policy term?

Term insurance policies mainly offer the nominees of the individual a death benefit. If you happen to outlive your policy, the policy will end so you no longer have life cover and in most cases, you will not receive any kind of maturity benefit. If you’ve purchased a term plan that offers a maturity benefit, then you will receive it once the policy term expires. Before the term expires, you have the option of converting your term life insurance policy into a regular life insurance policy. You can check with your insurance provider on whether this is possible and ask about the process for the same.

24 How do I select the best term insurance policy for myself?

The term insurance policy that you choose will depend on your financial requirements. First, you must decide whether you want a simple term plan or if you’d like to get critical illness and disability cover as well. Next, you should look for policies that also offer maturity benefits, such as the return of the premium. Finally, you should look at the sum assured on offer. The sum assured that you opt for will depend on the number of dependents you have and the kind of lifestyle you’d like your family to enjoy in the future. Once you understand your needs and requirements, you’ll be able to select the right term insurance policy.

Click here to view the Specimen Policy Document of this plan.

  1. Available under Life Protect and Income Plus Options only.
  2. Available as an inbuilt feature under Income Plus Option and on payment of extra premium under Life Protect Option (Fixed Term variant) and Life & CI Rebalance Option.
  3. WoP on diagnosis of CI is available as in inbuilt feature under Life & CI Rebalance Option and on payment of extra premium under Life Protect Option (Fixed Term variant).ADB option is available on payment of extra premium under Life Protect Option.

ARN: EU/07/21/24468