Term insurance
Life cover that pays your family a lump sum if you die during the term, and nothing if you don't, which keeps it cheap.
It replaces your income for the people who depend on it. A common rule is cover of 10 to 15 times your yearly income, plus your loans. Premiums count for 80C in the old regime.
Plans that return money at the end cost far more for the same cover.
Term Insurance Cover Calculator
How much life cover your family needs, by the income and expense methods, and the gap from the cover you have.
Related terms
Rules as of tax year 2026-27. Written by the Welthr team; last reviewed on . Not financial advice.