For a total payout of ₹ 70 Lac till 60Switch to whole life years of age based on your Profile
Insurer & Plan
Payout
Cover Upto
Claim Settled
Premium (Inclusive GST)
iProtect Smart Lumpsum
Rs. 1 Cr
59 Yrs
96 %
₹ 658 monthly ₹ 7902 annually change
 
40 yrs policy term
3D Plus Life Option
Rs. 1 Cr
59 Yrs
97 %
₹ 611 monthly ₹ 7112 annually change
 
40 yrs policy term
Online Term Plus One Time Lumpsum Plan
Rs. 1 Cr
59 Yrs
97 %
₹ 540 monthly ₹ 6136 annually change
 
40 yrs policy term
iTerm
Rs. 1 Cr
100 Yrs
97 %
₹ 509 monthly ₹ 5850 annually change
 
41 yrs policy term
Mera Term Plan-Full Lumpsum payout
Rs. 1 Cr
99 Yrs
87 %
₹ 700 monthly ₹ 7906 annually change
 
41 yrs policy term
online term + Lumsum
Rs. 1 Cr
85 Yrs
92 %
₹ 491 monthly ₹ 5664 annually change
 
41 yrs policy term
Tata Sampoorna Raksha Lumpsum
Rs. 1 Cr
59 Yrs
96 %
₹ 699 monthly ₹ 7906 annually change
 
40 yrs policy term
eTouch Lump Sum
Rs. 1 Cr
59 Yrs
91 %
₹ 683 monthly ₹ 7584 annually change
 
40 yrs policy term
BSLI Protect@Ease Lump Sum
Rs. 1 Cr
59 Yrs
94 %
₹ 635 monthly ₹ 7050 annually change
 
40 yrs policy term
iLife Total Protect
Rs. 1 Cr
75 Yrs
90 %
₹ 608 monthly ₹ 6986 annually change
 
41 yrs policy term
e-Term
Rs. 1 Cr
75 Yrs
91 %
₹ 613 monthly ₹ 6962 annually change
 
40 yrs policy term
eShield
Rs. 1 Cr
49 Yrs
96 %
NA ₹ 7387 annually change
 
30 yrs policy term
IDBI Federal iSurance Flexi Lump Sum Plan
Rs. 1 Cr
80 Yrs
90 %
₹ 607 monthly ₹ 6750 annually change
 
41 yrs policy term
Future Generali Flexi Online Term-Lumpsum
Rs. 1 Cr
75 Yrs
89 %
₹ 571 monthly ₹ 6465 annually change
 
41 yrs policy term
TotalSecure+ Lump sum
Rs. 1 Cr
80 Yrs
93 %
NA ₹ 6157 annually change
 
41 yrs policy term
Pramerica Life
Rs. 1 Cr
75 Yrs
90 %
₹ 547 monthly ₹ 6070 annually change
 
41 yrs policy term
MyLife+ Lump sum
Rs. 1 Cr
80 Yrs
93 %
₹ 521 monthly ₹ 5924 annually change
 
40 yrs policy term
iSelect Lumpsum
Rs. 1 Cr
59 Yrs
94 %
₹ 502 monthly ₹ 5578 annually change
 
40 yrs policy term

Introductory Content

Are you looking to buy a 70 lac term insurance for 35 years old, but aren't sure what term insurance really is? Can't understand how it will benefit you or how the tax exemptions? Don't fret, on this page, we explain term insurance, how it works, provide quotes of some of the leading insurers in the country, tax exemptions, et all. So read ahead and find the answers to all your questions, even the ones you haven't thought of yet!

What is Term Insurance?

To put it simply, term Insurance, also known as life Insurance, is a financial cover that an individual can buy for his/her loved ones, in case of the individual's accidental death.

How Does It Work?

In India, the Life Insurance Contract legally binds the life insurance policy providers to pay a pre-determined sum to the policyholder's nominee, on his/her accidental death. This amount, known as the ‘sum assured', is built on the premiums that the insured pays, along with the interest and bonuses (if applicable) added by the insurer. To clarify further, if a policy reads "70 lac life insurance policy for 35 years old", it means that the sum assured in that policy will amount to 70 lac. Enlisted below are premium quotes from some of the leading providers of life insurance policies:

Concluding Content

What are the Applicable Tax Exemptions?

Buying a life insurance policy offers you many additional benefits. Under Section 80C of the Income Tax Act 1961, buying a life insurance policy makes you eligible for a tax exemption of up to Rs 1.5 lakh. In fact, even the sum assured you receive as death benefit or maturity benefit is tax exempted under section 10(10D). So, even if you buy a 70 lac term insurance for 35 years old, and your premium amount is less than 10% of the sum assured, i.e. Rs. 7 Lac, then you no taxes will be levied and you will receive the whole of sum of Rs 70 lac without any tax cuts. Furthermore, many life insurance policies offer a survival benefit, if the policyholder survives the policy term.

To Sum Up!

Needless to say, the biggest argument in favour of term insurance policies is the assurance that even if you aren't around, your family will not have to worry about their financial security. Having a policy of a 70 lac life insurance for 35 years old can be very beneficial in today's age of rising costs.

Ensure that you're ready to tackle any disaster that comes your way with the best life insurance policy for you. The smartest way to buy a term insurance policy is by comparing different insurance plans on an insurance aggregator website like Policybazaar. On such sites you can great policies like a 70 lac term insurance for 35 years old. What are you waiting for? Do your homework and practically list out your requirements to ensure that you know exactly what you need from your policy.