Kuvera Protect : Term Life Insurance

Insurance is a major pillar of any financial plan. It helps to add much needed financial security in case of unforeseen events like ill-health, disease, accidents or even death. But choosing and buying Insurance cover gets way too complicated too quickly.  Especially given the vast variety of choices and the marketing push behind products that offer more than pure protection. Kuvera takes the first step today in solving this by bringing you Term Life Insurance from HDFC Life Insurance Company.

The first step is the most important – Term Life Insurance

We start with Term Life Insurance, the most basic but the most relevant Insurance solution that all of us must have. Read here for some useful insights

What is Term Life Insurance?

Pay a fixed amount called premium (annually, monthly or one time) for a defined term. In case of your death during the policy term, the beneficiary of the policy gets a fixed amount of money from the insurance company. Your family can settle any loans and pay-off any liabilities when you are not around to take care of this.

Term Life Insurance is a pure protection life insurance solution.

It  offers a fixed amount life insurance plan that covers the risk of an untimely death of the insured during the policy term. A term plan offers a life cover to the insured at the lowest premium.

  • The amount payable to buy this protection is called Premium. Depending on the availability, you can choose an annual, monthly, one-time premium.
  • The period for which the life insurance policy is called the term.
  • The coverage amount or the sum assured is the amount the beneficiary of the policy will receive in case of death of the life insured during the term of the life insurance policy.

 

Why Term Life insurance?

It is the lowest cost solution to provide financial security to your loved ones in the event of your untimely demise.

For brevity’s sake, no detailed comparison of the multitude of Life Insurance products and why a term plan is best. But if this is a question, google can help..:)

How can Kuvera help?

Here is a convenient way to buy Life Insurance

1 You can buy Term Life Insurance cover from HDFC Life Insurance Company by clicking here.

2 You are buying directly from HDFC Life Insurance Company. So you get the Life cover at the lowest possible price.

3 If you use the link, we will provide some relevant information, at your discretion, to the insurer. And they will show you the pricing(premium) for different products so you can choose the most relevant solution. If you are logged in, you will see the details that will be shared with them and it is your choice as to what information to share. Do not make any incorrect declarations as that can lead to policy rejections now or even claim rejections later.

4 Important: No calls from the Insurer till you decide on the right product and pay the premium.

Why Term Life Insurance from HDFC Life Insurance Company?

For the following reasons:

1 It is one of India’s top insurers with a reliable track record and a large network of branches. (Helps if the Insurance company is easily accessible when a claim needs to be made)

2 Amongst the highest claim settlement ratios. (No of claims made vs no of claims paid)

3 Premium payable per lakh of life insurance cover (Competitive pricing)

4 Features of the Term Plan (This is the fine print and mostly the same across Insurers for vanilla Term Plan)

5 Availability of opt-in extras or rider(s) (such as Accidental Death Cover or Permanent Disability Cover etc if required) Think of these are extras that you will pay for only if choose to include them.

In time, we will add more depth to the insurance offering. As usual, expect the best from us.

9 Responses

  • Gaurav

    August 23, 2018 AT 06:46

    Can we link the existing HDFC Life insurance Term plans to our existing Kuvera accounts?


    • Gaurav Rastogi

      September 11, 2018 AT 02:20

      Not yet Gaurav, a deeper integration will take time.


  • RAJEY DOIPHODE

    September 7, 2018 AT 10:16

    hello Neelabh,

    Are there any Medical Insurance Premium with which Kuvera is having tie-ups that can be declared u/s 80D?


    • Gaurav Rastogi

      September 11, 2018 AT 02:17

      None so far Rajey.


  • Vinay

    December 15, 2018 AT 03:09

    I am an NRI and most companies do not provide term plan. I need 2.0 crore term plans for 25 years. At present 37 years old. Could you check up if I can term plan from HDFC life.


    • Gaurav Rastogi

      December 16, 2018 AT 04:45

      Request you to contact HDFC Life directly for specific quotes applicable for you.


    • Subramanian

      December 20, 2018 AT 13:56

      Term plans are provided to NRI. I am a NRI and have term Plan(s) with two different insurance entities in India.
      Even HDFC provides as I had a quote generated but could not go ahead as I was not able to attend medical required for which you need to do it in India.
      So cancelled out and got the initial amount paid refunded (no deductions of any sort)


  • Shah Alam Ansari

    December 19, 2018 AT 06:42

    Dear sir, when Iam logging on ur kuvera app,. In the portfolio section it reflects different return and investment while comparing on MF utility app… Pls elaborate, though their total sum giving same value. Iam unable to understand which one is correct.


    • Gaurav Rastogi

      December 22, 2018 AT 03:10

      Hello, we show XIRR for holdings over 1 year which is your annualized rate of return and the single best measure of calculating returns. Not sure what MF Utility shows.