Life Insurance
Protect Your Family’s Future with the Right Life Cover
What is Term Life Insurance ?
Term Insurance is the purest form of life insurance. It offers a high sum assured at a nominal cost for a fixed period. In case of the unfortunate death of the policyholder during the policy term, the entire coverage amount is paid to the nominee, ensuring their financial independence.
CoverBee offers
Single Life Term Plans
Coverage for one individual
Joint Life Plans
Cover for you and your spouse in a single policy
Return of Premium Options
Get back all premiums if you survive the policy term
Why You Need Term Life Insurance
- Financial protection for your family in your absence
- Covers long-term liabilities like loans, education, and daily expenses
- Affordable premiums with large coverage amounts
- Tax benefits under Sections 80C & 10(10D)
Term Plan Riders for Extra Protection
Enhance your term plan with optional riders to cover more scenarios:
Accidental Death Benefit
Critical Illness Cover
Waiver of Premium
Survival Benefit
Life Stage Benefits
Better Half Benefit
Flexible Payout Options
Choosing the Right Term Plan: What to Consider
- Claim Settlement Ratio of the insurer
- Solvency Ratio – their financial strength
- Your life stage: Whether you’re single, married, or nearing retirement
- Required coverage: Experts recommend 15–20x your annual income
- Tenure: Longer tenure ensures coverage through key life milestones
- Add-ons and benefits to suit your lifestyle and risk profile
Benefits of Buying Life Insurance Online from CoverBee
- Compare leading insurers in one place
- Customize your coverage and add-ons easily
- Buy from the comfort of your home
- 100% digital and paperless process
Life Insurance FAQs
The nominee or legal heir as recorded in the policy.
Typically 15–20 times your annual income + liabilities.
Yes. Whether you're young, married, or retired—term plans offer value at all stages.
- Premiums: Deductible under Section 80C
- Death benefit: Tax-free under Section 10(10D)
Term Plans are pure protection plans with no maturity benefits, while traditional plans include investment elements with lower coverage.
- Nomination: Name the person to receive the death benefit
- Assignment: Transfer ownership of the policy (e.g., for loan collateral)