Term insurance is a type of life insurance that provides coverage for a specified term or period. It pays a death benefit to the beneficiary if the insured person passes away during the policy term.

Term insurance is crucial for providing financial protection to your family in case of your untimely demise. It ensures that your dependents receive a lump sum amount to cover expenses like daily living, outstanding loans, and future financial goals.

The coverage amount depends on your financial obligations, such as loans, education expenses, and living costs. A common recommendation is to have coverage equal to 10-15 times your annual income.

Term insurance riders are additional benefits that can be added to the base policy for extra coverage. Common riders include critical illness, accidental death, waiver of premium, and disability benefits.

Yes, most insurance companies offer the option to buy term insurance online. Online purchases provide convenience, transparency, and the ability to compare different plans.

If you outlive your term insurance policy, there is no maturity benefit, and the policy expires. You may have the option to renew the policy, but the premium will likely increase.

Premiums are determined based on factors like age, health, lifestyle, coverage amount, and term duration. Younger, healthier individuals typically pay lower premiums.

Yes, smokers generally pay higher premiums compared to non-smokers due to the higher health risks associated with smoking.

Yes, you can have multiple term insurance policies from different providers. Having multiple policies allows you to customize coverage based on your needs

The claim settlement ratio indicates the percentage of claims settled by the insurance company. A higher ratio suggests a better track record of settling claims, making the company more reliable.