Pure life cover for a chosen term, usually without a maturity payout.
What this type of cover does
Pays the stated death benefit when an accepted claim occurs during the policy term. Optional riders may add accidental death, disability or critical illness benefits.
Who commonly considers it
People whose family, loans or long-term goals depend on their income.
What to check in the policy
Registered name and IRDAI registration details of the insurer or intermediary
Who is insured, when cover starts and when it ends
Sum insured or benefit amount, deductibles, co-payments and sub-limits
Waiting periods, exclusions, claim conditions and cancellation terms
Premium amount, taxes, renewal rules and consequences of missed payment
Claim contact details and the insurer’s grievance-redressal process
Features vary by insurer and product. A generic plan type cannot tell you whether a particular claim will be paid; only the issued policy wording can do that.
