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Rs. 25,000 Term Life Insurance Coverage

Every individual irrespective of the social strata they belong to, requires a financial safety net to fall back on in case of emergencies. Term insurance plans offer just that at affordable premiums. Now, these premiums tend to increase as the sum assured increases, which is why it is not feasible for just anybody to purchase high insurance coverage. In such cases, individuals can opt for low coverage options such as Rs. 25,000 term life insurance coverage.

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What is 25,000 Term Life Insurance Coverage?

With each term insurance policy, you need to assure a sum that effectively covers the risk of your life against regular premium payments. The sum assured on death is basically the benefit that can be claimed by the assigned beneficiaries on the death of the policyholder. 

Rs. 25,000 term life insurance coverage, as the name suggests, is a term life cover with the assured death benefit amount of Rs. 25,000. This means that if the life assured dies within the stipulated policy term, the nominees could claim this amount from the respective insurer. Please note that these policies are pure risk protection plans and do not come with maturity or surrender benefits. 

Can I Buy Rs. 25,000 Term Life Insurance Coverage?

Yes, one can buy a term life insurance cover of Rs. 25,000. However, note that most standard term life insurance policies usually offer high coverage ranging from Rs. 25 Lakhs to up to Rs. 1 Crore. These high cover term life policies are naturally priced higher. In order to address the insurance needs of people belonging to lower-income groups or economically backward sections, insurers have come up with micro insurance schemes. 

Micro insurance Term Life Coverage

A micro insurance term plan offers low coverage risk protection against the death of the policyholder for a limited duration of time. Given that the coverage is significantly lower in these plans, the premiums charged are comparable and easily affordable by someone on a tight budget. Life insurance coverage in these schemes can range from a minimum sum assured of Rs. 10,000 to a maximum of Rs. 50,000. 

Notably, apart from micro insurance plans, there are certain standard low coverage term life product offerings, wherein the sum assured can range from Rs. 30,000 to up to nearly Rs. 2 Lakhs. These are higher than Rs. 25,000 term life insurance coverage is ideal for those who have the budget to follow through with the respective premiums. Such low coverage term plans are available at low premiums and, therefore, make for a good insurance vehicle for low-income groups.

The table below lists some term life insurance policies that offer low coverage to the tune of Rs. 25,000. 

Policies Offering 25,000 Term Life Insurance Coverage

List of Policies Insurer Minimum Sum Assured (in Rs.) Maximum Sum Assured (in Rs.) Policy term
SBI Life - Grameen Bima SBI Life 10,000 50,000 5 years
Aviva Jana Suraksha Aviva 25,000 50,000 5 or 10 years
LIC’s Bhagya Lakshmi LIC 20,000 50,000 7-15 years
LIC’s New Jeevan Mangal LIC 10,000 50,000 5-15 years
PNB MetLife Bima Yojana PNB MetLife 1,000 per member 2,00,000 6-84 months
Bharti AXA Life Group Term Micro Insurance Plan Bharti AXA Life 1,000 per member 2,00,000 2-5 years
Kotak Raksha Group Micro Insurance Plan Kotak Life 5,000 2,00,000 1 month - 10 years
ICICI Pru Sarv Jana Suraksha ICICI Pru 5,000 2,00,000 5 years
ICICI Pru Shubh Raksha One ICICI Pru 1,000 per member 2,00,000 per member 1 month - 1 year

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Five things to know before buying Term Plan Five things to know before buying Term Plan

Term Life Insurance Plans With Coverage Above Rs. 25,000

List of Policies Insurer Minimum Sum Assured (in Rs.) Maximum Sum Assured (in Rs.) Policy term
SBI Life – Saral Swadhan+ SBI Life 30,000 4,75,000 10-15 years
ICICI Pru Life Raksha ICICI Pru 50,000 5,00,000 5 years
Canara HSBC POS - Easy Bima Plan Canara HSBC 50,000 15,00,000 10-20 years

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Should You Purchase Rs. 25,000 Term Life Insurance Coverage?

The insurance needs of every buyer are different, as are their circumstances. Not everybody in the country may be able to afford a term coverage of Rs. 1 Crore. As long as the policyholder has life cover, his/her dependents can enjoy some semblance of financial security with the death benefit amount. While Rs. 25,000 may not be significant for someone in the city, families of people working with minimum wage can greatly benefit from a 25,000 term life insurance coverage. The best term insurance policy is one that offers optimum coverage at affordable premiums and this varies for each buyer and each family. While such low coverage may not make sense to you, it might be the saving grace for some families. 

Having said that, it is always better to get as much coverage as possible given that expenses are only set to rise in the future owing to inflation. If you save now and can stretch your finances even a little bit, you should consider getting a higher cover than just Rs. 25,000.

Why Buy Term Life Insurance from Policybazaar Why Buy Term Life Insurance from Policybazaar

FAQ's

  • What is the entry age to buy 25,000 term life insurance?

    The minimum and maximum entry age can be around 18 years and 50 years, respectively. The age limit varies across insurers. 
  • Is there a minimum premium limit with low coverage plans such as Rs. 25,000 term life policies?

    Yes, most low coverage plans come with a cap on the minimum premium that has to be paid to keep the policy in force. It usually ranges from Rs. 250 to Rs. 500, depending on the minimum sum assured cap. It further varies across plans and insurers. 
  • What happens after the expiry of the Rs. 25,000 term cover?

    On the expiry of the cover, the policy can either be renewed or converted to a whole life policy. Alternatively, if after the end of the policy term, you find yourself with better financial prospects, you might want to consider getting higher coverage to ensure complete financial security for your dependents.
  • Do Rs. 25,000 term life insurance covers come with maturity benefits?

    No, term insurance policies are pure risk protection plans and as such does not offer any maturity benefits to the surviving policyholder. 
  • How many members can be covered under group micro insurance term life policies?

    Usually, a maximum of 5 members can be covered under group micro insurance term life policies that come with low coverage. The minimum sum assured per member is mostly Rs. 1000.
  • What are the premium payment options available with Rs. 25,000 term life insurance coverage?

    Policyholders have the flexibility to choose from single, regular or limited premium payments if the policy offers such provisions. Regular and limited premium payments can be done monthly, quarterly, half-yearly, or annually.

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