Claim Assurance in Term Insurance with Policybazaar

A term insurance policy ensures that your family is financially protected in the event of your untimely passing during the policy term. These plans provide cover from day 1 of policy issuance or revival. With claim assurance, your loved ones can rest assured that they will receive the promised payout quickly and without hassle. A dedicated support system guides them through every step of the claims process, from initiating the claim to handling all documentation and follow-ups, ensuring a smooth and stress-free experience during difficult times. 

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What is Claim Assurance in Term Insurance?

When you purchase a term insurance plan, the primary objective is to secure your loved ones financially in the event of your unfortunate death during the policy term. Since these plans cover the policyholder from day 1 of the policy being issued or revived, the policyholder can rest assured that their family’s claim will be approved in their absence. The claim assurance ensures that your nominee will receive the sum assured promptly, enabling them to manage expenses and maintain their standard of living without financial stress. This assurance is a crucial component, offering peace of mind that your family’s financial future is protected.

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

What is Section 45 of the Income Tax Act 1961?

According to Section 45 of the Income Tax Act 1961, the insurer cannot reject claims of policies that have been active or reissued for more than 3 consecutive years. Within these 3 years of policy issuance or policy revival, the insurer can raise questions on the application information provided or reject claims in case of discrepancies. However, after the expiry of these 3 years, no insurer can reject a claim on any grounds, provided that the nominee is not filing for a fraudulent death claim.

Can My Term Insurance Claim Still be Rejected?

Even though section 45 of the IT Act, 1961, covers most grounds on which the claim cannot be rejected, the cases where term insurance claims can be rejected by the insurer are:

  • If the policyholder is alive and the nominee tries to file a fraudulent claim

  • If the wrong person claims to be the nominee and tries to receive claim amount

one crore term plan

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%#

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

How Policybazaar Enhances Your Claim Experience?

At Policybazaar, we understand the importance of a smooth claims process. Here’s why purchasing a term insurance plan through us ensures a superior experience:

  1. Claims Assured with Top Insurers

    We collaborate with the best life insurance providers in the industry, ensuring that valid claims are paid out promptly. Our partners follow strict regulatory guidelines, meaning your family can rely on a secure payout when needed.

  2. Exclusive Benefits for Online Buyers

    Purchasing term insurance via Policybazaar comes with a comprehensive range of attractive benefits, including competitive premiums through online discounts. Our platform allows you to easily compare policies, helping you find the best fit for your financial needs.

  3. Dedicated Claim Assistance Program

    Policybazaar offers more than just policies. We provide a dedicated claim assistance program to support your family during the claims process. Each claim is assigned a dedicated relationship manager who handles every aspect of the claim, ensuring a hassle-free experience.

    Key Features of Our Claim Assistance Program:

    • On-Ground Support: Our relationship managers personally assist your family, helping them through every step of the claim process.

    • Initiating Claims: We contact the insurer and initiate the claims process, sparing your family the burden.

    • Document Collection and Submission: We manage the entire paperwork process, from collecting necessary documents to submitting them to the insurer.

    • Follow-Ups with the Insurer: We handle all communication with the insurer, ensuring the claim is processed and settled swiftly.

  4. Offline Assistance

    Beyond the convenience of online services, Policybazaar provides offline support for customers who prefer face-to-face interaction. Our customer service team is readily available to offer guidance, ensuring your family gets the help they need when they need it.

  5. Transparency in the Claims Process

    At Policybazaar, we believe in complete transparency. From the moment a claim is filed, your family will have full visibility into its status. Our claim managers will provide regular updates, ensuring your family is always informed about the progress.

  6. Zero Hidden Costs

    Unlike some providers, Policybazaar ensures no hidden fees are associated with our claim assistance services. Our goal is to simplify the claims process without adding additional financial strain on your family during a difficult time.

  7. Fast-Track Claim Settlements

    Time is of the essence when it comes to settling claims. Policybazaar’s partnerships with insurers allow us to offer fast-track claim settlements for cases with straightforward documentation. This ensures that your family receives the sum assured as quickly as possible.

Why Buy Term Insurance for Claim Guarantee?

Several insurers now offer term insurance plans that offer 100% claim guarantee, like HDFC Click 2 Protect Ultimate plans. These plans can provide the following benefits:

  • Guaranteed Payout: A claim guarantee ensures your family will receive the promised payout without hassle, giving them financial support when they need it most.

  • Trusted Insurers: Companies offering claim guarantees are reliable, ensuring your family is protected.

  • Quick Claim Settlements: Term insurance claim guarantees reduce delays, so your family gets the money fast, helping them during tough times.

Tax Benefits of Term Insurance

In addition to offering financial security, term insurance also provides significant tax benefits under various sections of the Income Tax Act. By purchasing a term insurance policy, you not only protect your family’s future but also enjoy tax savings, making it a smart financial decision. Here’s how term insurance tax benefits can help you save:

  • Tax Deductions Under Section 80C

    Premiums paid towards your term insurance policy are eligible for deductions under Section 80C of the Income Tax Act. You can claim up to ₹1.5 lakh in deductions annually, reducing your taxable income while ensuring your family’s security.

  • Additional Deductions Under Section 80D

    If your term insurance policy includes a health-related rider (like critical illness or disability riders), you can avail additional deductions under Section 80D. You can claim up to ₹25,000 per year (₹50,000 for senior citizens), further enhancing your tax savings.

  • Tax-Free Payout Under Section 10(10D)

    The death benefit paid to your nominee is exempt from tax under Section 10(10D), ensuring that the sum assured your family receives is free from any tax deductions. This ensures that the entire amount can be utilized for their financial needs without any tax liability.

Why Choose Policybazaar for Your Term Insurance?

Purchasing term insurance is important for your family’s security, and Policybazaar makes this process seamless and stress-free. When you buy from us, you’re not just getting a life insurance policy; you’re gaining access to:

  • Assured claim payouts with trusted insurers.

  • Online discounts and easy comparisons.

  • Comprehensive claim support with a dedicated relationship manager.

  • On-ground assistance to handle all paperwork and follow-ups.

Peace of Mind with Policybazaar

When you choose Policybazaar, you choose a partner who will stand by your family when they need it most. With our robust claim assurance, dedicated support system, and easy-to-use platform, we ensure that your family’s financial future is secure and protected.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.


Premium By Age

˜Top plans are based on annualized premium, for bookings made through https://www.policybazaar.com in FY 25.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

© Copyright 2008-2025 policybazaar.com. All Rights Reserved

+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.



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