Prices Increasing soon Prices Increasing Soon

Life Insurance For Students 

There are some things guaranteed in life, and long-term wealth and protection from eventualities are not among them. Inflation and taxes are a certainty. At least, not till you do anything about this. Life insurance policies are one of some investment options which are capable of securing your wealth for a long time period.

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:-

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

This means, that if you buy a life insurance policy in early age, you can easily secure your savings from taxes and inflation for a long time period. So the main question Is it possible to buy life insurance plan during your college time? Do you need a life insurance plan as a college-going student? 

Let’s discuss the answers to these questions in detail: 

Why is Student Life Insurance Needed for College-going Students?

A college-going student needs a life insurance plan for the following reasons:

  1. Pay off Remaining Student Loans

    Many students opt for student or education loans to pursue higher education. However, if something happens to them, the burden of paying off the remaining loan may fall on your parents' shoulders. A student life insurance can help your family pay off the remaining loan in your absence and any other such debts that you may leave behind. 

  2. Provide Death Benefits to Nominees

    If you are a student who is also the sole earning member of the family, your financial dependents may be left with no income in your absence. The death benefits provided by life insurance for students can help your family recover from the financial implications of losing a loved one and maintain their current lifestyle.

  3. Build Wealth for Your Future Goals

    As a student, you may have future goals for your life, like pursuing higher education, getting married, or moving abroad. Life insurance for students can help you build wealth by investing in different investment funds through life insurance plans while offering the security of insuring your life.

  4. Offers Peace of Mind 

    A life or term insurance for students can offer you the peace of mind of knowing your family will be financially secure in your absence and won’t have to worry about paying monthly expenses in case you are the main breadwinner of the family. 

one crore term plan

Term Plans


Life Cover

@ Starting from ₹ 16/day+


Life Cover

@ Starting from ₹ 8/day+


Life Cover

@ Starting from ₹ 12/day+

What are the Benefits of Buying Life Insurance for Students?

The mid-20s is the age of enjoyment, and planning financially for your future may not be the foremost thing that comes to your mind. Though, saving and investing at a young age will help you in the future. The following are the benefits of purchasing the best life insurance plan: 

  1. Low Premium Rates 

    One of the main reasons to buy a policy at a young age is just because of low premium amounts. The insurance premium price increases with age because younger individuals are less likely to be diagnosed with an illness. You can consider buying term insurance for students, as it is one of the most affordable types of life insurance.

  2. Investment Security

    Life insurance for students is one of the safest investment options. They protect your investments and ensure that your loved ones receive the life cover if you die during the plan tenure. 

  3. Compounding Growth Benefit

    The interest earned on the principal amount is reinvested in the plan to get more interest, called compounding. Simply put, it is the interest that is gained on the interest. The more time you remain invested in your plan, the more time you permit your money to increase exponentially. 

  4. Helps fulfil wealth creation goals 

    Apart from providing coverage, life insurance for students is also used for long-term wealth creation. You can fulfil this by availing yourself of plans such as endowment, ULIP, money-back, etc. In these plans, you receive a maturity benefit after the expiration of plan tenure. These plans enable you to accrue money and pay off debts such as pending student loans. 

  5. Tax Benefit 

    You can claim tax benefits on term insurance for students to get tax savings benefits. The premium amount paid for a plan can be claimed u/s 80C of the ITA. This decreases your tax liability, helping you further save money. 

one crore term plan

Secure Your Family Future Today


Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

What is the Best Life Insurance for Students in India?

The table below illustrates the term insurance for students offered by the top life insurance companies for young individuals: 

Insurer Plan Name  Entry Age  Maturity Age  Policy Term Sum Assured 
ICICI Prudential Life Insurance  iProtect Smart  18 to 65 years  99 years  5-69 years  Minimum: 50 Lacs Maximum: 10 Crores
Max Life Insurance  Smart Secure Plus 18 to 60 years  85 years  10-67 years  Minimum: 25 Lacs Maximum: 10 Crores 
Tata AIA Life Insurance  Sampoorna Raksha Supreme 18 to 60 years  100 years  10-67 years  Minimum: 50 Lacs Maximum: 20 Crores
Aegon Life Insurance  iTerm Prime 18 to 65 years  70 years  5-52 years  Minimum: 25 Lacs Maximum: 20 Crores
HDFC Life Insurance  Click 2 Protect Super 18 to 65 years 85 years  10-(85-entry) years  Minimum: 50 Lacs Maximum: 20 Crores 

How can College Students Buy Life Insurance Plans? 

Here is how you can buy life or term insurance for students in India 2024:

  • Step 1: Visit the life insurance page

  • Step 2: Select the type of life insurance you want to buy: term life insurance or investment plans

  • Step 3: Fill in the required details like name, gender, date of birth, and phone number

  • Step 4: Select the most suitable term insurance for students and proceed to pay

Wrapping It Up!

Life insurance for students can help you secure your loved ones, offer wealth creation benefits, help save on yearly taxes and provide overall peace of mind. With a student life insurance, you can secure a large life cover at an early age in exchange of really affordable premiums.

Premium By Age

Life insurance articles

  • Recent Article
  • Popular Articles
09 Aug 2023

What High Net Worth Individuals (HNIs) Do To Secure Their...

High net worth individuals often opt for life insurance plans to

Read more
28 Jun 2023

A Review Of ICICI Prudential Life Insurance

“Policy Bazaar insurance clarified the term policy for me, so

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best

Read more
20 Jun 2023

Best Life Insurance Policy in India with High Returns

The best life insurance policy in India is a type of life

Read more
20 Jun 2023

Which Insurance is Best in India?

Insurance is a financial product that transfers the risk to a

Read more
15 Dec 2021

Life Insurance for Parents in India

With the increase in the average life expectancy rate, the older population in India is on the rise. Most of the

Read more
08 Jun 2022

Life Insurance for NRI

Going beyond geographical boundaries to study or pursue a career abroad is a common aspiration for many

Read more
14 Apr 2014

Life Insurance Quotes

Life insurance quotes are the approximate premium rates for the specific life insurance policy. It helps you

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best decision I have ever made. I feel so good knowing that

Read more
26 Dec 2022

Canara Guaranteed Fortune Plan

Canara HSBC life insurance company introduces a guaranteed fortune plan that provides assured benefits to life

Read more
Download the Policybazaar app
to manage all your insurance needs.