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What is 30 Year Term Insurance Policy?

If you want peace of mind for the long term, purchasing a term plan that covers a longer horizon is a wise option. A 30-year term plan covers you for a large part of your life and lets you live without any stress!

To delay is to regret

You may not always be around to take care of your family. And that’s when a term plan ensures your family is well protected.

Term Insurance


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Term Insurance

A 30-year term insurance plan is your best bet to protect your family.

30 Years Term Insurance
February 29, 2024


Most of us believe in the longevity of life, and that’s how it should be. Being positive is always appreciated, but it’s equally important to be prudent. This means that as humans, we need to account for the unpredictability of life and take steps to safeguard our loved ones in case we leave the world. Yes, what we mean is if an untoward incident occurs, things may turn around in an instant.

That’s exactly why it’s a wise decision to go for a term insurance policy. Once you sign up for any such policy, you can be rest assured that your family won’t have to compromise on their lifestyle in your absence. If you are looking to provide this safety net to your loved ones for a long tenure, make sure you opt for a term insurance policy for 30 years.

How does a term policy with a 30-year period work?

After you’ve made your decision to invest in a term insurance policy with a 30-year tenure, make sure you pay regular premiums to ensure your family receives the death benefit, in case it’s required. In the case of failed payments, this benefit won’t be offered and your policy will be cancelled. There is no maturity benefit that’s extended if the policyholder survives through the tenure. However, some plans do offer the Return of Premium option which allows the policyholder to reap the maturity benefit if the survive the entire policy tenure.

The benefits of a 30-year term insurance policy

If you are planning to sign up for a term insurance policy with a 30-year tenure, here are a few benefits you should be aware of:  

  • Security for 30 years to the policyholder’s family, offering peace of mind
  • Premiums are affordable and do not fluctuate during the tenure
  • Death benefit offered to the nominees; in case the policyholder dies during the policy term. It could be natural death, death by accident, or death due to critical illness
  • Helps in future financial planning, particularly if there are lofty goals
  • Income tax benefit under Section 80C of the Income Tax Act*
  • Offers option to add riders for an added layer of security
  • Availing loans against term life insurance policies
  • Policyholder can also alter beneficiaries, in case a need arises

Is there any way to calculate 30-year term life insurance premiums?

The premium is calculated based on a range of factors, including the age of the policyholder, annual income, sum assured, medical history, and if they have a history of smoking, drinking or using chewing tobacco, as well as any other major health risks. If someone has greater health risk, be prepared to pay a higher premium.


1. Is it a good idea to avail the 30-year term insurance plan?

It is definitely a good idea for those individuals who are looking to safeguard their family’s financial needs in their absence for a tenure of 30 years.

2. Does one receive a maturity benefit if the policyholder survives during the tenure of the 30-year term insurance plan?

No. If the policyholder survives the term, they do not receive any maturity benefit, unless they have opted for a plan with Return of Premium (ROP) option which allows the policyholder to reap maturity benefit if they survive the entire policy tenure

3. How can one cancel the 30-year term insurance policy?

You could reach out to your insurance company and let them know your decision in writing. After submitting the prescribed form, the insurance company will process the policy cancellation.  However, one cannot get any refunds of premium if the policy is cancelled outside the prescribed cooling / free look period.

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.