Fight back all medical emergencies with this term insurance plan
Medical emergencies are uncertain & we must be prepared for these. Learn today how to Fight back all medical emergencies with a term insurance plan.

Fight back all medical emergencies with planned savings. Read & invest
On Indian roadways, 53 accidents occur every hour, with 17 people killed ruthlessly. Similarly, 83 individuals drown in the nation every day. With such a high death rate, the nation should have comprehensive insurance coverage., though the truth is a little different.
The bulk of the population lacks appropriate insurance coverage. Life insurance penetration may be limited due to complex products and costly premiums. Term insurance policies, on the other hand, may make life insurance affordable to millions of individuals.
What is a term insurance plan?
Term life insurance is the most basic kind of life insurance. It is also one of the most economical kinds of life insurance. It does not include an investment component and just assures a predetermined payment upon the insured's death. Term insurance programs, in general, do not provide any survivor benefits.
The premiums are among the lowest at the beginning of the policy but steadily climb with the insured's age. Here, the policyholder pays a greater premium, receives no returns, and the need for comprehensive coverage lessens. All of this makes a standard term life insurance policy far from ideal.
What is term insurance with a return of premium?
A standard term insurance policy may not be the best option, but there are other kinds of term policies available. Policyholders who desire a term insurance plan that includes survival benefits in addition to death benefits might choose a term insurance plan with a premium return.
The most significant advantage of term insurance with return of premium, or TROP, is that the policyholder receives a refund of all premiums paid throughout the policy term at the time of maturity.
A regular term insurance policy pays the amount guaranteed upon the insured's death. Aside from the amount promised, no payments are made. In the case of the insured's death, the term insurance with return of premium pays the amount promised to the nominees. However, if the insured survives the insurance period, they will get a refund of all premiums paid throughout the policy term.
Benefits of Buying a Term Plan with Return of Premium
Term insurance with return of premium provides all of the advantages of a standard term insurance plan as well as survivor benefits. It is an excellent choice for anyone looking for life insurance with guaranteed profits. Here are three advantages of purchasing a term insurance policy with a premium return:
1. Return of Premium Benefit
Term insurance policies do not provide maturity benefits. However, if the policyholder outlives the policy term, they may receive all of their money back with term insurance with return of premium. Canara HSBC Life Insurance's iSelect Smart360 Term Plan has a return of premium feature. You may utilize the advantage for any purpose.
2. Death Benefit
Benefits that cover accidental death, accidental incapacity, and critical diseases are available as options. A term insurance plan with a return of premium and appropriate riders offers complete coverage at a low cost.
3. Tax Benefits
Investing in term insurance with return of premium allows the policyholder to lower his or her tax liability. The insurance premiums are tax deductible up to Rs 1.5 lakh per year under Section 80C of the Income Tax Act of 1961. Section 10 (10D) of the tax legislation exempts the dividend from income tax.
iSelect Smart360 Term Plan
The iSelect Smart360 Term Plan is an online term insurance plan that offers expanded protection alternatives to help you achieve your life objectives. The term plan would pay either a lump sum or periodic income. It also offers extra coverage alternatives, so you never have to worry about covering your loved ones' requirements.
This is a Non-Linked, Non-Participating, Individual, Pure Risk Premium Life Insurance Plan and an all-in-one policy that allows you to personalise your coverage to match your individual requirements while also ensuring that the aspirations of your loved ones are not threatened.
The following are the advantages of the iSelect Smart360 Term plan:
1. Block your Premium
For the first five years, the policyholder may freeze the premium. During this time, the Life Assured or their spouse may raise the Base Sum Assured on the Initial Sum Assured without any extra underwriting.
2. Steady Income Benefit
Under the Life Secure with Income option, you may receive a consistent income after reaching the age of 60. From the age of 60 until the sooner of death or the end of the Policy Term, a monthly survival income equal to 0.1% of the Sum Assured at commencement will be paid.
3. Critical Illness Cover
A critical illness cover policy offers lump-sum payouts for specified life-threatening critical disorders such as heart attack, cancer, renal failure, and so on.
This lump-sum coverage amount may be used to pay for costly medical treatments or hospitalisation costs. This lump sum payment from critical illness cover is in addition to your standard health insurance policy.
Option to add expedited Terminal Illness or extra Critical Illness cover. The iSelect Smart360 Term Plan covers 40 Critical Illnesses (CI). For Life Assured/Working Spouse, the CI benefit amount is only payable once throughout the Policy Term (as applicable).
4. Special Exit Value
Special Departure Value returns the whole premiums paid on voluntary exit. If the Policyholder surrenders their Policy, the Total Premiums Paid, except additional underwriting premiums and premiums paid for Optional In-Built Covers (if any), will be reimbursed to them.
5. Increasing Cover
The iSelect Smart360 Term Plan gives you complete control over your premiums and coverage. Your obligations grow with you. You need greater facilities and coverage to address diseases or accidents associated with aging.
6. Tax Benefits
Term insurance policies function in two ways. On one hand, a smart term plan provides tax advantages under sections 80C and 80D while on the other hand, term life insurance plans provide lifelong protection even after your death.
Wrapping It Up
There are numerous kinds of term plans available, as well as a variety of life insurance policies. Many life insurance policies provide returns, but the returns are often market-linked and are not guaranteed. You may utilize the maturity lump payment to purchase a vehicle or improve your home.
A clear picture helps in financial planning. Term insurance with a premium return is preferable to a standard term insurance. It is a perfect solution for customers who do not want to lose money on their premiums and want to see a return on their investment.