Why a 1 Cr term cover at age 30 costs less than a phone EMI
Term insurance is the cheapest financial product you'll ever buy — and the most important one if anyone depends on your income.
The math
A 30-year-old non-smoker pays ₹650-800/month for ₹1 Cr cover for 30 years. That's less than a Netflix + Spotify + average phone EMI combined. The death benefit is tax-free under Section 10(10D), and the premium qualifies for 80C deduction.
How much cover is enough
The standard rule: 10-15× your annual income, scaled up if you have a home loan or young children. A 30-year-old earning ₹15L/year should target ₹1.5-2 Cr cover.
Term until what age?
Pick a term that takes you to age 60-65 — your retirement years. After that, your investments should be self-sustaining and dependents financially independent.
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Independent insurance writers and former product managers from leading insurers — focused on plain-English explainers, no marketing fluff.
