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₹ 25 lakh Term Insurance
What is a Rs. 25 lakh term insurance plan? How does paying a regular premium for this plan help you look after your family? Term plans provide your loved ones with a financial safety net to fall back on. Even if something happens to you, the term insurance plan will look after your loved ones and secure their finances and future dreams.
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.
Life Cover of 25 Lakh @ Rs 12/day***
:1800-266-9777
ROP
Return of Premium^
Same Day
Claim Processing#
99.50%
Claim Settlement Ratio##
66 Million
Lives Insured@
₹3 Trillion
Assets under
management@
630 Billion
Total Premiums@
TERM INSURANCE PLANS BUYING GUIDE
Why Do I Need Rs 25 Lakh Term Insurance?
Table of Content
Everybody works hard for a safe and secure future. Most working individuals create financial plans that include savings and investments to safeguard their future. However, many forget about the importance of a term plan, such as the best term insurance plan for 25 lakhs, best term insurance plan for 1 crore etc. A term policy offers life coverage, providing your loved ones with financial safety and stability at a crucial time.
What Is a Rs. 25 Lakh Term Insurance?
A Rs. 25 lakh term policy offers life coverage worth Rs. 25 lakhs for a limited time. Some policies today extend the coverage for the individual’s entire life. If anything happens to the policyholder while the plan is active, the beneficiary receives the payout of Rs. 25 lakhs.
Why Buy Rs. 25 Lakhs Term Insurance?
You should always opt for life insurance coverage of at least 10 to 15 times your current annual income. If you factor in a higher inflation rate, you might want to consider coverage equal to 20 times your earnings. As you can clearly see, a life insurance policy worth Rs. 25 lakhs may not be sufficient to replace lost income. However, it can provide an additional payout to help your family maintain their standard of living or cover future expenses.
How Does a Rs. 25 Lakh Term Plan Work?
Let’s consider an example keeping the above points in mind. Ajay started investing when he was in his late 20s. He picked an investment plan that offered life insurance coverage as well. Ajay knows that the payout from the plan will help his wife and children replace his lost income in the future. However, in his early 30s, he purchases a home. Ajay takes a loan to help with the cost. Since his original life coverage will not help pay off the loan and replace lost income, he takes an additional term plan worth Rs. 25 lakhs for 15 years. Should anything happen to him during this time, his family would receive the payout from both plans. They can use the amount from the term policy to repay debts and the amount from the other plan to maintain their standard of living.
What Are the Benefits of Rs. 25 Lakhs Term Insurance?
When you purchase a term insurance policy worth Rs. 25 lakhs, you benefit from:
- Affordable premiums
- Premium payment flexibility
- Customise your plans by opting for a few additional benefits of term insurance.
- Take advantage of the tax benefits given by the Income Tax Act*
- Secure your loved ones' financially
How to Choose Rs. 25 Lakhs Term Insurance Plan
When looking for a Rs. 25 lakh term policy, you should consider the following crucial points:
Premiums
Most term plans offer similar benefits. Evaluate each policy and the premium before making a choice.
Individual Death Claim Settlement Ratio
The IRDAI regularly releases details about the individual death claim settlement ratio of insurance companies. Always select an insurance provider with a high claim ratio. They will likely settle the claim if your beneficiary files a valid claim.
Add-ons
Always check the add-ons that various insurance companies offer. You could boost your coverage and enhance your family’s financial future by selecting the add-ons that suit your needs.
Frequently Asked Questions
Q: What are the eligibility criteria to purchase a Rs. 25 lakh term plan?
A: Any individual between 18 and 65 who earns can purchase a term plan.
Q: What is the premium amount for a term plan offering coverage of Rs. 25 lakhs?
A: The premium amount for the term policy depends on your lifestyle, age, health, income range and more.
Q: What happens if I survive the policy tenure?
A: Term plans stop providing coverage on maturity. They do not offer additional benefits. However, most insurance companies provide a Return of Premium variant. If you select this, you will receive an amount equal to all premiums paid once the policy tenure expires.
Q: How can I purchase a Rs. 25 lakh term plan?
A: You should calculate your Human Life Value (HLV), which refers to the present value of future income expenses, investments, and liabilities. Once you calculate your HLV, you can purchase a Saral Jeevan Bima term policy worth Rs. 25 lakhs directly from our website.
Related Article
- Term Insurance Cost - Whats Right and Whats Not
- Term Insurance For Family - All You Need To Know
- Why You Need to Buy Your Term Insurance Online
- Reasons to Get Term Insurance for Heart Patients
- How much term insurance do I need
ARN - ED/04/23/1701
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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.
Written By:
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.
Reviewed By:
Here are a few more articles about Term Insurance.
We help you to make informed insurance decisions for a lifetime.
HDFC Life
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HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
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.
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##Individual death claim settlement ratio by number of policies as per audited annual statistics for FY 2023-24.
#Provided we have received all the relevant and required documents and no further investigation is required. Claim settlement process would be completed within stipulated timelines once the claim request is approved
^ Available under Life & Life Plus plan options
*As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
***Online Premium for Life Option, Male Life Assured, Non-Smoker, 25 years of age, Policy term of 30 years, Regular pay, Annual frequency, exclusive of taxes and levies as applicable. (Annualized Premium of 4414/365=12.09)