Insurance
Term Insurance
pronounced: [T-e-r-m- -I-n-s-u-r-a-n-c-e]
A pure life insurance product that provides coverage for a specified period.
If the policyholder dies within the term, the nominee receives the sum assured. It offers the highest coverage at the lowest premium.
Example
A ₹5 lakh personal loan at 10% p.a. for 3 years has an EMI of ₹16,607/month. Total payment = ₹5,97,852, of which ₹97,852 is interest.
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Last updated: 21 May 2026