Term Life Insurance

Secure your family's financial health and future.
Buy Confidently

With 25 insurers and 100+ products to choose from, Coverfox works actively to find a plan that is ideal for you—basically, the best one, the right one. From providing you with all the right information to offering unbiased comparisons, we do it all. Hey, you don't even need to engage with the insurer yourself.

Insurer Logo

Term Life Insurance

Things you need to know
Term Life keyword

Some may say that Death is the next greatest adventure, but still it's an adventure one usually experiences alone. In such a case, the least we can do is ensure that our loved ones are left financially secure. That's where the idea of a term insurance plan comes in, so that worries about your family's future don't.


The sum assured is paid out in one whole 'lump sum' to the nominee of the policy.


A percentage of the assured sum is paid in monthly instalments from the first month of the death.

Why Term Insurance

  • Financial Security

    Benefit to the nominee for a secure financial future.

  • Low Premium

    An attractive premium for higher sum assured.

  • mokers Included

    Even those with tobacco-chewing and smoking habits can opt for the plan. No one discriminates or judges that way.

  • Tax Exemption

    The premium paid is also exempted from taxation up to a maximum of 1 lakh under section 80C of the Income Tax Act, 1961.

Coverfox advantage Coverfox Advantage

Expert Advice

Expert advice and an informed, unbiased opinion that clears the confusion and helps you buy that perfect plan for you. Can it get any easier?
Expert advice


Service Managers who assist you with all your post-sale requirements - from claims processing to renewals! They are like superheroes, but only better.
Post sales assistance
You happy. We happy.

"My first experience with Coverfox was an absolute delight. Their positive response and effective actions changed my opinion of the entire insurance segment. Hope they keep it up!"

Ramachandran D

"What I’ll never stop being thankful for is the fact that my claim for total loss was settled in such less time. Thank you so much for all the support from your side!"

Arun H

"Their prompt replies, seriousness about policy deliveries and commitment to their job are just some factors that make Coverfox shine through. But their complete transparency in their calls clearly is the icing on the cake!"


"Having been a customer for over a year, I feel relaxed as far as health insurance is concerned. Their customer service personnel guided me through each step of my process while helping me finding the best plan!"

Manoj Kumar Jain
Things you must know
  • What are the things you need to know when you are investing in a Term Insurance plan?
    • You take a term insurance plan with the sole purpose of ensuring that your family members are adequately supported in case of your death. In such a sensitive case, you must always weigh your options on all possible parameters:

      • Coverage: Be sure that the coverage being offered will be sufficient for your family or the nominated person. Never ever compromise on it for the sake of a lower premium.
      • Claim Settlement Ratio: The insurer's claim settlement ratio and market reputation will ensure that your claims are honored when needed, so always keep that in mind.
      • Inflation: Keeping inflation in mind, always consider how sufficient the coverage amount will be in the future.
      • Add-on feature: Always supplement your term insurance plan with suitable riders for the most comprehensive coverage.
  • What is the right age to buy a Term plan?
    • There really is no right age for making an investment when it comes to Term Insurance. Like any other insurance plan, the earlier you opt for it, the better. If you do manage to buy the plan at an early age:

      • The premiums will be relatively lower. Now that's a win-win situation!
      • Your liabilities are at a low hence you might not require to insure a big sum which will eventually result in lesser premiums.
      • As health risks largely depend on the age, getting covered is easier and hassle-free. Who doesn't like that?
  • In an unfortunate event of your death, how can your nominee claim your Term plan?
    • If you have invested in a Term Plan, it is advisable to keep your nominee aware of the situation so that if and when the time comes, he/she can claim the policy for which you have been shelling premium every year. To make the claim, the following steps need to be taken:

      • Every insurance company has a pre-set procedure defined for making a claim. Hence, following your death (and yeah, even though it sounds scary!), your nominee has to intimate the insurance company of the same.
      • All necessary documents including Claim Form, Death Certificate, original policy documents, hospital and medical records and bank account details of the nominee, etc. are to be submitted to the insurance company for further processing.
      • Always prefer to communicate with the insurance company through written medium like an email to maintain a track of your conversation. You never know when it might come in handy (though we hope it doesn't).