The cost of term plan depends on several factors such as the policy-holder’s age, health condition, smoking status, annual income, as well as the selected amount and tenure of insurance coverage.
For e.g., buying an IndiaFirst Life E-Term Plan – a 1 crore term plan for a policy period of 40 years will cost up to Rs. 8,260 annually for a 30-year-old male non-smoker. For a 40-year-old male non-smoker, a 1 crore term insurance plan for 30 years would cost up to Rs. 14,750—the earlier you get term coverage, the cheaper it will be for you.