Prices Increasing soon Prices Increasing Soon

How to Strengthen Your Term Insurance Cover?

Online term insurance plans are gaining popularity among the new Indian generation. They are one of the highest-selling insurance products online. In India, people majorly purchase life insurance plans for tax-saving purposes and then for providing financial protection to the dependants. Those individuals having financial dependants and liabilities are recommended to invest in a compressive term insurance plan with adequate life coverage so that it protects them until their age of retirement.

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.

How Can You Increase Your Term Insurance Cover?

A term insurance plan keeps your family safe and secure financially. The money obtained from term insurance can be used in the future to pay off loans, child’s education, and their marriage. Financial conditions might change over time because of the uncertainty of life. Moreover, inflation is also an important part that should be taken into consideration. Assessing the right term insurance coverage is not easy. So, there are several ways in which you can grow or strengthen your term insurance cover along with your liabilities. Here are some of the ways by which you can increase your term insurance cover:

Purchase Additional Life Covers 

Buying additional life cover is as easy as you can apply for other life insurance or a new term policy with significant growth in your income. This is how you can upgrade your existing term insurance policy. In case if you are older and suffering from a new health condition, there are chances that your upgrade might be very costly. In some cases, the upgrade scheme might get rejected due to health or age-related reasons. 

Select a plan with life-stage increment – In this, you can easily ask the insurance company to increase the sum assured of the plan at certain pre-specified points in life. However, the plan should have this type of option at the time of purchase. This parameter enhances the protection in the critical times of your life.

Choose Increasing Cover Option 

Increasing term insurance cover is where the sum assured amount of the plan automatically grows yearly. Here, you are not required to buy another plan; you are not even required to submit the increment request. In this, you are not required to undergo a medical examination and there is no risk of your upgrade getting rejected. The policy will upgrade systematically without you having to interrupt every time. Let’s discuss some of the benefits of choosing increasing cover: 

  • One Premium – Purchasing a new policy by paying an extra premium with a manual upgrade depends on your age and health status. With the help of an increasing term cover, a single policy, and a single premium are required for a lifetime. 
  • Increase Automatically – While upgrading manually, you are required to submit documents, have to sign few declarations and undergo fresh medical examinations, etc. Different T&Cs are also applicable under such schemes. Now in increasing cover, no new documents, forms, medical tests, or declarations are required. There are no additional T&Cs that you will have to sign to maximize your sum assured amount. This is done automatically. 
  • No Rejection Risk – At older ages, if you decide to manually upgrade your policies, there are chances that you are required to pay more premiums due to age or due to any medical disease or illness you get diagnosed during these years. In increasing covers, you do not have to panic about paying extra premiums or the rejection of the policy. 

Covering Other Unexpected Situations 

Does term insurance cover disability? If yes, then why it is important? If you live till 65 years of age, then you care enough to take care of your family. If you die at an early age and have a term plan, in such cases the pay-out from the plan will take care of the financial requirements of your family. What if you survived till 65 but suffered from disability at that age? In such cases, a one-stop solution is disability riders that pay a lump sum amount. This amount can be used to fulfill the financial requirements of a family. 

Wrapping It Up!

Overall, as you have seen that choosing an option of increasing cover while purchasing a term insurance plan might be good for easy management of the policy. Also, it takes care of the easy management of the claim processing by your loved ones. This is a hassle-free and automatic process. It does not require you to undergo any medical examination or have to submit any fresh documents. It is always suggested to choose an increasing cover and disease and disability riders to strengthen your term insurance plan.

Different types of Plans

Premium By Age

Term insurance articles

  • Recent Article
  • Popular Articles
21 Feb 2024

Tata AIA 70 Lakh Term Insurance

Ensuring the financial well-being of your family requires

Read more
20 Feb 2024

PNB 70 Lakh Term Insurance

Ensuring the financial well-being of your family requires

Read more
20 Feb 2024

PNB 75 Lakh Term Insurance

Safeguarding the financial well-being of your family starts with

Read more
19 Feb 2024

Kotak 75 Lakh Term Insurance

Securing your family's financial future demands a lot of

Read more
15 Feb 2024

ICICI 75 Lakh Term Insurance

Ensuring the financial well-being of your family requires

Read more
07 Mar 2014

1 Crore Term Insurance - Buy ₹1 Cr Term Insurance Plan...

Term insurance is a type of insurance plan that offers financial security to your loved ones in the event of your

Read more
12 Jun 2018

Claim Settlement Ratio of Term Insurance Plan Providers

Claim Settlement Ratio (CSR) is an important parameter in the selection of an insurance policy. If you are going

Read more
27 Jun 2018

What Is Difference Between Term Insurance And Life Insurance

Life insurance plans help you create wealth, protect your family for the entire policy term, and save on your

Read more
24 Mar 2020

LIC Term Insurance 1 Crore

LIC of India offers various plans to help you secure the financial future of your loved ones. To ensure your

Read more
20 Aug 2014

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
Download the Policybazaar app
to manage all your insurance needs.