Term insurance is the simplest, most affordable form of life cover: a large sum assured for your family if you are not there to earn. The product is simple — buying it correctly is what a broker is for.
Most term-claim disputes trace back to the proposal form — an old ailment not mentioned, tobacco use understated, income overstated. We treat the proposal stage as seriously as the claim stage, because that is where your family's claim is actually won.
Anyone whose family depends on their income — salaried professionals, business owners with loans, young parents. If people you love would struggle financially without you, term insurance is the first protection to put in place, before any savings-linked product.
A commonly used thumb rule is 10–15 times your annual income, plus outstanding loans, minus existing assets earmarked for the family. Your final figure should reflect your liabilities, dependants and years to retirement — we help you work through it before you compare plans.
The single biggest cause is non-disclosure — health conditions, tobacco use, occupation or existing policies left off the proposal form. As your broker we insist on complete, accurate disclosure at proposal stage, because a correctly disclosed policy that has crossed three years is extremely hard for an insurer to repudiate under Section 45 of the Insurance Act.
For meaningful cover amounts, usually yes — and that is good for your family: a policy issued after medical underwriting is on far stronger footing at claim time than one issued on declarations alone.
Buying a term policy under the Married Women's Property Act, 1874 ring-fences the claim amount for your wife and children — creditors and other claimants cannot attach it. It must be opted for at proposal stage and cannot be added later; tell us if this applies to you.
Tell us your age, annual income and loans — we will shortlist term options and go through the disclosures with you properly.
