RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

What is current trend in term insurance?

down-arrow
What is current trend in term insurance?
March 16, 2023
Life is full of uncertainties and therefore, staying financially prepared at all times is the best course of action that you can undertake. Needless to say that it not only requires careful planning but also the right kind of balanced outreach and informed decision-taking. It must be kept in mind that the financial decisions taken by you have to be futuristic in nature with a view towards having sufficient coverage at all times. The decisions must not be taken only with an eye towards the rate of earnest returns but also towards the risks involved and the financial goals that you have set up for future. This must be done in due consultation with your partner or other dependent family members. Moreover, the returns must stay insulated from all minds of risks and this is where term insurance comes to your aid.

If you are seeking a simple and uncomplicated protection plan for your loved ones, a term insurance plan can be an ideal option.

Unlike traditional life insurance plans, a term insurance plan works differently. A traditional life insurance plan offers the complete death benefit i.e. the sum assured to the nominee(s) of the policy holder in the event of the policy holder's demise during the plan term. In addition to this, if the policy holder survives the policy term, she/he is entitled to receive maturity proceeds in the form of policy maturity benefits. However, a standard term insurance plan offers financial coverage only as sum assured to the nominee(s) of the policy holder in the event of her/his death during the policy term. There are no maturity benefits to which the policy holder is entitled. Although some insurers do have the clause of some benefits upon maturity of the plan term, yet such clauses also indicate a direct impact on the payable premiums.

In the current scenario of Indian markets, owing to the increased financial knowledge and its dissemination among the various segments of the society, many people have started opting for a multi-faceted investment portfolio. This means that instead of having a lop-sided value of funds tied in a certain type of investment, the bulk of funds are distributed and therefore, the balanced utilization of various schemes is done. What this essentially means is that term insurance forms an important part of the insurance portfolio of people these days. In addition to this, there is one more important factor to be considered. Term-insurance plans, especially the ones that come with additional riders are very famous among potential customers these days. This is because in return for a certain amount of additional premium, these riders offer coverage scopes for critical illnesses, accidental disabilities, hospitalization etc. Therefore, in proportion to the payable premium amount, one can now avail of significant coverage benefits in shape of additional riders, as an extra feature of the traditional benefits that come with a standard term insurance plan.

HDFC Life offers various term insurance plans that are directed towards safeguarding your financial future and protecting the future of your loved ones. For details, click on the mentioned link: https://www.hdfclife.com/term-insurance-plans.

Related Article-

Show Full Article
Hide Full Article

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

Francis Rodrigues 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.

LinkedIn profile
Author Profile Written By:
Vishal Subharwal 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.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

Difference Between Term Insurance and Life Insurance

Difference Between Term Insurance and Life Insurance

Which is the best in terms of premiums, maturity benefits & death benefits? Read to compare benefits of term insurance & life insurance before buying a plan!

How to Choose the Right Term Policy Period?

Eligibility Criteria for Buying Term Insurance in India

Term Insurance Age Limit

Term life insurance age limit is the age range for buying a term plan. In India, you can start at 18 years, and the maximum age is usually up to 65 years.

Term Insurance Age Limit
Planning for the Future Previous
5 Less Known Tips - Choose Right Term Insurance Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

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.

Popular Search

Popular Searches