In summary

Term insurance can help your family manage financial responsibilities during the policy term at affordable premiums. The required cover depends on your income, liabilities, dependants and the period for which you need protection.

• Term insurance plans offered through Bajaj Finance Insurance Malll starts at Rs. 14/day* for 1 crore cover.
• Eligible premiums can qualify for tax deduction of up to Rs. 1.5 lakh per financial year under Section 123, subject to applicable conditions.
• Individual life insurance policies are exempt from GST from 22 September 2025.
• The cover can be planned around loans, household expenses and other financial commitments.

Explore plans and get quote for a suitable term insurance plan based on your financial requirements and secure your family.

Term insurance provides a fixed amount if the life insured dies during the policy term. The applicable payout can help the family manage household expenses, outstanding loans and other financial responsibilities.

The amount of cover should reflect the financial support your family may need during the selected policy period. Income, dependants, liabilities, existing assets and existing life cover can all form part of this assessment. Insurance Regulatory and Development Authority of India (IRDAI) describes a term insurance product as providing a fixed amount on death during the period of the contract.

If you are assessing your life cover requirement, compare the sum assured and policy term with your loans, income needs and future financial commitments before getting a quote. 

Term insurance plans offers comprehensive coverage at affordable premiums. Explore plans and get quote for a suitable term insurance plan. 

You can directly visit the insurer's official website or compare and get quote through platforms like Bajaj Finance Insurance Mall where you will find multiple term insurance plans offered by trusted insurers.

Here are the steps to compare and get quote through Bajaj Finance Insurance Mall:

1. Click on 'Get Quote' on the life insurance page to visit the online application form.
2. Enter your details, including your name, mobile number, email ID, date of birth and gender, and select ‘Proceed’ to generate a personalised premium estimate.
3. Provide additional information about your lifestyle, occupation, education, income and PIN code, then select ‘View Plans’.
4. Review the policy details, including the premium, coverage, benefit structure and available riders. Select optional riders only when they match your protection needs.
5. Click on ‘Buy Now’ and complete the next steps in the application process. A representative may contact you to explain the available products and application requirements.

Enter your personal and health information accurately. The insurer uses the information provided during underwriting to determine eligibility and applicable policy terms.

The main considerations include:

• Longer protection period: Starting earlier can give you more options when selecting the policy term.
• Age at entry: Your age is considered when the insurer assesses your application.
• Health profile: Medical and health information forms part of the underwriting process.
• Financial planning: Life cover can be planned alongside savings, investments and other financial goals.

The actual premium depends on the selected cover, policy term, age and other underwriting factors. 

Term insurance is important for your family's financial security because it provides a lump-sum payout if the life insured dies during the policy term. The nominee can use the payout to manage household expenses, repay outstanding loans and cover other essential financial needs.

The cover can also help fund children's education and planned financial commitments without relying entirely on existing savings. The required sum assured should consider your income, outstanding debts, existing life cover and family's future financial needs.

• Assess your needs: Calculate the coverage you need based on your current and future financial obligations.
• Compare policies: Look at various term insurance plans online and compare their features, benefits, and premium costs.
• Check the insurer’s reputation: Consider the insurer’s claim settlement ratio and customer service record.
• Read the fine print: Ensure you understand the policy terms, including exclusions, riders, and renewal options.
• Consider riders: Add-ons like critical illness cover or accidental death cover can enhance your policy.

You can also review the insurer's claim settlement information and claim process before making a decision. IRDAI advises customers to understand the product features, terms and claim procedures before purchasing life insurance.

After assessing your protection needs, compare plans and get a quote based on the cover and policy term you require.

Term insurance can provide financial support to your family during the selected policy term. It can help address household expenses, outstanding loans and other financial responsibilities if the life insured dies during the policy period.

When choosing cover, consider your income, liabilities, dependants, required sum assured, policy term and premium. You can then compare available plans and request a quote based on your protection needs.