Term Life Insurance Quotes – Term Life Insurance , Check Best Plan for 1 Crore

Term Life Insurance Quotes

Term insurance is an agreement between the policyholder and the insurance provider wherein the insurance provider promises to provide a sum assured in case of an unfortunate demise of the life assured. The cost of a term insurance plan is known as a premium quote.

The premium for life insurance depends on a number of factors such as life assured’s age, medical records/history, occupation, lifestyle, personal habits such consumption of alcohol/tobacco, coverage amount i.e. sum assured, coverage time period i.e. policy term, etc.

What Factors Affect Term Insurance Premium Quotes?

Following are some of the factors which affect the premium quote of a term insurance plan –

1. Type of Term Insurance Plan:

There are 5 types of term insurance plans namely Level Term Plans, Term Plan With Return of Premium (TROP), Increasing Term Plans, Decreasing Term Plans, and Convertible Term Plans. The premium amount of each type of term plan is different. For instance, the premiums of decreasing term plans are relatively lower than increasing or convertible term plans.

2. Life Assured’s Lifestyle Habits (Alcohol/Tobacco Consumption):

The premium of a term insurance plan is also a factor of the lifestyle habits of the life assured. Unhealthy lifestyle habits like consumption of alcohol or tobacco attract relatively higher premium rates.

3. Policy Term:

Every term plan is valid for a certain number of years which is known as the policy term. There are various insurers that also offer whole life term insurance plans, wherein the life assured is covered till 99 years of age. The premium of a term insurance plan depends positively on the policy term, thus, the longer the policy term, the higher the premium and the longer the time you are covered.

4. Sum Assured Amount:

Sum assured refers to the amount payable to the nominee in case of an unfortunate demise of the life assured. The higher the sum assured, the higher the premium.

5. Life Assured’s Medical History:

Another factor that affects the premium of a term insurance plan is the medical history of the life assured. The healthier the life assured, the lower is the premium.

6. Life Assured’s Age:

The premium amount also depends on the age of the life assured, the older the life assured, the lower is the premium amount.

How To Get Best Term Insurance Quotes At Insurance Dekho?

You can get instant quotes for your term insurance by following the steps given below:

• Visit InsuranceDekho and select the ‘Life’ tab
• Enter your name, date of birth, and mobile number.
• Click on the ‘Get Quotes’ button.
• Tell us if you have smoked or chewed tobacco in the last 12 months.
• Select your ‘Education Qualification’.
• Select your ‘Occupation Type’ and ‘Annual Income’.
• Premium Quotes of top term insurance plans will be displayed to you matching your specifications.

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