Term insurance offers high coverage at affordable premiums. It ensures that your family or dependents are financially supported in case of an unexpected event. It is ideal for those seeking financial protection without the need for investment components.

Term insurance works by providing life coverage for a fixed term, such as 10, 20, or 30 years. You pay regular premiums, and in return, the insurance company promises to pay a death benefit to your beneficiaries if you pass away during the policy term.

Term insurance policies typically offer coverage for 10, 20, or 30 years. You can select the duration based on your age, financial goals, and the level of protection you wish to provide for your family.

Your term insurance coverage should be based on your financial needs, including your family’s living expenses, outstanding debts, and future goals like your children’s education or retirement savings. A good rule of thumb is to choose coverage that is 10-15 times your annual income.

● Affordability : Term insurance provides high coverage at lower premiums compared to other life insurance types.
● Financial Protection : It ensures your family’s financial security if you’re no longer around.
● Tax Benefits : Premiums paid for term insurance are eligible for tax deductions under Section 80C of the Income Tax Act.
● Flexible Policy Options : Choose the coverage amount and duration that best suit your needs.

A medical check-up may be required depending on your age, the coverage amount you apply for, and your health condition. For smaller sums and younger applicants, some insurers may waive the medical check-up requirement.

Yes, most term insurance policies allow for renewal after the policy term ends. However, the premiums may increase depending on your age at the time of renewal. It is important to review the renewal terms carefully.

Many insurers allow you to increase your coverage through a rider or by purchasing additional coverage. However, this may depend on the insurer's policies and your health status at the time.

If you outlive the term of the policy, no payout will be made, and you will not receive a refund of the premiums. However, many policies offer a "Return of Premium" option, where you can get back the premiums paid at the end of the policy term.

Term insurance generally has minimal hidden charges. However, it is important to review the policy document for administrative fees, policy renewal charges, and other costs that may apply.

The best time to buy term insurance is when you’re young and healthy, as premiums are lower. Additionally, purchasing early ensures that your family is financially protected as soon as possible.

Finwelco partners with leading insurers to offer:
● Competitive premiums with high coverage.
● Easy and quick application process.
● Expert guidance to choose the right policy.
● Transparent terms with no hidden fees.