Prices Increasing soon Prices Increasing Soon

Increasing Term Insurance Plan

An increasing term insurance is a type of term life insurance in which the sum assured increases every year at a fixed rate. These plans offer the sum assured to the nominees in the event of the policyholder’s unfortunate death during the policy term. With these plans, you can ensure that your term life cover is enough to cover your increasing financial needs.

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~
58.9 Million
Registered Consumer
Insurance Partners
26.4 Million
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.

What is an Increasing Term Insurance Plan?

Under these term insurance plans, the coverage amount chosen by the insured at the commencement of the policy increases every year at a specific amount. However, the premium rate of the policy might or might not be the same throughout the tenure of the policy. In term insurance with increasing cover, the sum assured allowed under the policy depends on the health of the policyholder at the time of purchasing the policy. These plans are specifically designed keeping in mind the changing needs of a person and take care of the rising inflation. 

one crore term plan

Term Plans


Life Cover

@ Starting from ₹ 16/day+


Life Cover

@ Starting from ₹ 8/day+


Life Cover

@ Starting from ₹ 12/day+

How Does an Increasing Term Insurance Work?

Let us understand how term insurance with increasing cover works with the help of an example:

Suppose Suman bought a term insurance with increasing cover online for a policy term of 15 years, and sum assured increasing at 5% each year. If the base sum assured was 50 Lacs, and Suman suffered an untimely death in the 4th policy year, her dependants would receive an amount of Rs. 55,12,500 on Suman’s death.

Note: You can use a term insurance premium calculator to check the premiums payable for your desired life cover.

What are the Features of Increasing Term Insurance?

You can understand what is term insurance by taking a look at the following benefits offered by these plans:

  1. Premiums

    The premiums for increasing term insurance may increase or remain the same as per the T&Cs of different insurers. You should always read the policy documents to get a better understanding of your premium payment structure. You can choose to pay the premiums in annual, monthly, quarterly, or semi-annual mode for the suitable premium payment term as well. 

  2. Coverage

    In some of the increasing term insurance policies, there is a certain limit to the maximum raise of the sum assured amount. Once the sum assured amount reaches the maximum limit, it remains constant for the rest of the policy tenure. The rate by which the sum assured will increase is pre-defined and remains the same for the entire policy term.

  3. Benefits

    In case of the demise of the life assured person the policy tenure, a death benefit equal to the sum assured amount is paid to the nominee of the policy. Some increasing term insurance plans also offer different payout options. Under these payout options, you can choose if you want the payout to be made in monthly, increasing monthly, or lump sum + monthly installments.

  4. Riders

    Riders are add-on benefits that people add to their policy to enhance their base coverage. The most common term insurance riders are critical illnesses, terminal illnesses, accidental death riders, accidental total permanent disability riders, and waiver of premium riders.

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 are the Advantages of Increasing Term Insurance Plans in India?

You can understand what is term insurance by taking a look at the following benefits offered by these plans:

  1. Affordable

    The main benefit of buying an increasing term insurance policy is that it offers a low premium rate since it is one of the most affordable type of life insurance. Moreover, the premium of the policy may remain constant throughout the policy tenure or may increase at a fixed rate as per the insurer’s T&C.

  2. Helps to Beat Inflation

    The coverage amount you purchase for your family now might not be enough to take care of the liabilities in the future in your absence. As the sum assured amount in this term plan increases every year, it helps you to deal with the rising inflation and provides you with the right coverage to ensure the financial security of your loved ones.

  3. Tax Saving

    Along with the benefit of providing financial security to your loved ones, the increasing term insurance policy also provides the advantage of tax saving. The premium paid towards the policy up to the maximum limit of Rs.1.5 lakh is eligible for tax exemption U/S 80C of the Income Tax Act.

  4. Helps to Fulfill the Increased Financial Requirement

    With the increase in age, the financial responsibility of an individual also increases with time. As you grow old and get married, you have to plan for your kid’s financial future, pay off loans, create a retirement fund, accumulate wealth for the future, etc. With an increase in financial needs, the sum assured of the policy should also increase. The increasing term insurance plan helps you to fulfill the financial responsibility of your family even in your absence and help them to maintain a good lifestyle.

Wrapping it Up!

An increasing term insurance policy is best suitable for individuals who are young and expect their responsibilities to increase in the future. However, before making an informed decision make sure that you compare term plans and choose the plan which best suits your requirement.

Premium By Age

Choose Term Insurance Plan as per you need

Plans starting from @ ₹473/Month*
Term Insurance
4 Crore Term Insurance
Term Insurance
6 Crore Term Insurance
Term Insurance
7 Crore Term Insurance
Term Insurance
7.5 Crore Term Insurance
Term Insurance
8 Crore Term Insurance
Term Insurance
9 Crore Term Insurance
Term Insurance
15 Crore Term Insurance
Term Insurance
20 Crore Term Insurance
Term Insurance
25 Crore Term Insurance
Term Insurance
30 Crore Term Insurance
Term Insurance
15 Lakh Term Insurance
Term Insurance
60 Lakh Term Insurance

Term insurance Articles

  • Recent Article
  • Popular Articles
23 Jul 2024

Bajaj 2 Crore Term Insurance

Ensuring your family's financial security requires careful

Read more
23 Jul 2024

What is Policy Lapse?

Life insurance is an important tool for protecting your family

Read more
23 Jul 2024

What is the difference between the policyholder...

In the realm of life insurance, certain terms can often cause

Read more
23 Jul 2024

Who is a nominee/beneficiary?

Nomination in Insurance is an important aspect of financial

Read more
23 Jul 2024

What is a Policy Term?

The need for insurance is growing day by day with the world we

Read more

Term Insurance for Women in India

Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and

Read more

2 Crore Term Insurance Plan

Individuals can choose to buy best 2 crore term insurance plan that offers a life cover (sum assured) of ₹ 2

Read more

What Is Saral Jeevan Bima

Saral Jeevan Bima (SJB) is a simple term insurance plan that offers financial protection for policyholder’s

Read more

LIC Term Insurance Premium Calculator For Cover...

Affordability is crucial when evaluating any insurance policy; the premium amount associated with the plan is the

Read more
Need Help? Request Callback
View Plans
Download the Policybazaar app
to manage all your insurance needs.