Assurena Insurance Agency is an independent insurance brokerage agency that carries some of the best coverage options in the entire New USA.

Our Contacts

88 Centre Street North,
Toronto L4W 1C9
advisor@assurena.com admin@assurena.com
+1 (419)-507-0468
+1 (213)-345-0468

Working Hours

Monday
9.00 - 5.00
Tuesday
8.00 - 5.00
Wednesday
8.00 - 5.00
Thursday
8.00 - 5.00
Friday
8.00 - 4.00
Satureday
Closed
Sunday
Closed
Term Insurance

Secure your family's future with term insurance

Term Insurance
Buy term insurance online.

What is term insurance?

Term insurance is a kind of life insurance that provides death protection to the policyholder and his or her family in exchange for consistent premium payments over the course of a predetermined period of time or the policy term.

Term Insurance
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Who should purchase it?

The following people can easily get term life insurance products in India:

Self-Employed People: If you work for yourself, purchasing a term plan will help you to ensure that the financial goals of your dependents are not jeopardized.

Young Professionals: Young professionals should purchase term insurance as soon as possible if they have just begun their careers. The cost of term insurance will be less expensive the younger the policyholder is. Similar to this, the premium will increase as you become older

Recently Married: A term insurance plan serves as your spouse's financial safety net even when you are not around. If you do not live with your life partner, the term life insurance plan not only covers the nominee's financial obligations but also their debts

Taxpayers: One of the main advantages of purchasing term plans, in addition to the benefit of term insurance coverage, is that it provides tax benefits exempt under section 80C of the Income Tax Act

Retirees: If you are retired, you may purchase a term insurance policy even after you reach the age of 55 to 60. You must purchase term life insurance that offers financial protection against income loss or in the event of your absence if you have a non-working spouse or child

Working Women: Managing work and the home may be challenging for working women. Nevertheless, you can always protect your loved ones by purchasing a term insurance policy.

Parents: Typically, parents are the primary source of income for the family and the only ones who can assist their kids financially. Thus, having a term life insurance policy is the greatest approach to protect your children's financial future. In the event of the unfortunate passing of the insured person, such as parents, a death benefit is paid to the beneficiary of the term insurance policy during the policy period.

When should I purchase term insurance?

It is preferable to begin the term insurance purchase process as early as possible. The earlier one purchases, the better. You can get the needed life coverage by purchasing the appropriate term insurance. If term insurance is purchased later in life, the premiums will be lower than they would otherwise be because the premium for term insurance increases with age. Therefore, it is advised to get a term plan early in life in order to take advantage of all the benefits.

You can learn when you should purchase term insurance plans in the table below, as well as how your term insurance premiums rise with age. The following premium rates are appropriate for a healthy, nonsmoking male with a monthly payment schedule and a regular premium payment amount for a 15year
policy with the option of an income payout and Rs. 1 crore in life coverage.

Age (in years)Premium Amount
25 yearsRs. 498
35 yearsRs. 703
45 yearsRs. 1445
45 years
Rs. 3325

The premium rates for a term plan are rising as you can see in the table above as you get older. In this illustration, a 25yearold must pay a premium of Rs 498, which rises to Rs 703 for a 35yearold and to Rs 3325 for a 55yearold, showing that premiums are lower at younger ages

Benefits of term insurance?

Death Benefits- The nominee/beneficiary receives the full death benefit selected at the time of commencement in the event of an unexpected death while the policy is in effect. In the event of your absence, he or she may also choose to receive both a regular income and a lump sum payment.

Maturity Advantages- Term insurance policies don't include any payouts for maturity or survival. A TROP (Term Return of Premium) plan is advised if one seeks advantages upon maturity

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Survival Advantages- If you survive past the policy term, there are no survival benefits under a typical term insurance plan. To assist you to meet a variety of financial goals, a term plan with a return of premium plan also offers you a lump sum payment or an ongoing income in the form of guaranteed benefits. This plan reimburses you for money at least equal to the total premium you paid. At the conclusion of the plan’s term, you receive these guaranteed rewards.

Greater Amount Assured at Reasonable Premiums- Term insurance programs provide a significant amount of life protection at a low premium cost. This life insurance policy can replace years' worth of lost income.

Security for Debts and Loans- The term insurance policy also aids in protecting your dependents from your debts and other financial obligations, including loans. With the returns they receive, they may easily pay off the entire loan.

Protection from serious illnesses- Different term life insurance policies also offer critical illness benefits to enable you to receive quality care for a range of life-threatening conditions without worrying about the cost or bills. By purchasing a critical illness rider along with a term plan, policyholders can simply obtain critical illness coverage for the illnesses included in plan

Tax Advantages- With respect to the premium amount paid in accordance with Section 80C of the Income Tax Act of 1961, it gives tax savings benefits up to Rs. 1.5 lacs. Additionally, under section 10 of the tax code, the lump sum benefit paid under this plan is exempted (10D).

Assistance in the event of Disability- Accidents can happen anywhere, at any moment, and they can leave you permanently or temporarily disabled. In the event of an unintentional disability, disability coverage from a term insurance policy will give your family financial security.

Add-ons- You can select riders or add-ons from term insurance policies to gain extra insurance advantages. Term riders, which can be attached to a basic plan at cheap premium rates and provide the insured with more coverage and higher policy utility, include waiver of premium, accidental death benefits, critical sickness, and others.

There are several ways to pay premiums- The length of the premium payments is a customizable feature of term insurance. With your term life insurance plan, you can select regular pay (premium up to the policy term) or a limited payment term.

Insurance in india

How is a term policy structured?

According to the selected term life insurance plan, your loved ones will receive a lump sum payment in the event of the demise of the policyholder.
Depending on the version selected, you can choose to receive the benefit under the term plan as a lump sum payment as well as a regular monthly income.

The base term plan can also be supplemented with riders for affordable premiums that provide good benefits in the event of accidental death, serious sickness, or incapacity.
The type of payout option selected by the insured when purchasing a term insurance policy determines how the sum assured money is paid. The payments may be made as a single lump sum or as monthly income at predetermined times.

Do check out our other pages giving more information on Health InsuranceLife InsuranceTravel Insurance, and Mutual Funds.

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What does our term insurance cover?

Term insurance is a kind of life insurance that provides death protection to the policyholder and his or her family in exchange for consistent premium payments over the course of a predetermined period of time or the policy term.

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