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What is ₹ 75 Lakh Term Insurance?

Life is invaluable. If you are the sole breadwinner in your family, a lot hinge on what you provide for them, and what you promise them. How do you ensure that the promises will be kept even if you are no longer around? A term insurance plan is the answer.

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.

Life Cover of 75 Lakh @ Rs 20/day***

Term Insurance


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Term Insurance

Why opting for a Rs 75 lakh term insurance plan is a good idea  

75 Lakhs Term Insurance
March 01, 2024


There’s no denying that life is beautiful, but it also comes with a huge set of responsibilities. If you have a family, their health and well-being will always be your foremost priority. While you can’t have control over any untoward incidents that occur in your life or theirs, you can always have a contingency plan in place that can safeguard them from harsh circumstances. That’s where a term plan steps in.

Before we get to term plans, it’s important to understand the concept of Human Life Value. HLV, as it is known in insurance parlance, is a number that gives you the present value of future income, expenses, liabilities and investment. In sum, HLV helps to determine the loss of income and the rise in liabilities that could occur after the death of the sole earning member of a family. A sound term plan takes the HLV into consideration before suggesting a good coverage amount.
 Of course, there’s no dearth of term insurance plans available today but if you are looking to secure your family with adequate coverage, we suggest going for a Rs 75 lakh term insurance plan. In case you are the sole breadwinner and unfortunately pass away suddenly, your family won’t have to drop the ball on their dreams.

How does a Rs 75 lakh term policy work?

If you’ve decided to go for a term insurance policy with a sum assured of Rs 75 lakh, the next step is to be regular about paying premiums as per the decided frequency. If you ensure regularity, your family will be extended a death benefit of Rs 75 lakh in your absence.

And even if you live through the plan tenure, there are term plans which give you Return of Premium (ROP) option, which let you reap the maturity benefits when the plan ends.

Why choose a Rs 75 lakh term insurance policy

If you’re planning to purchase term insurance plan of sum assured Rs 75 lakh, here are a few benefits you should be aware of:  

  • Risk protection of Rs 75 lakh to the policyholder’s family, offering peace of my mind
  • Death benefit offered to the nominee, in case of the death of the life assured during the policy term. It could be natural death, death by accident, or death due to critical illness
  • Helps in planning future financial needs like child’s education, marriage, or buying a house
  • Income tax benefit under Section 80C of the Income Tax Act*, as well as exemption from tax on the death benefit, under section 10(10D)
  • Offers option to add riders for an added layer of security, including disability, critical illness, or accident cover
  • Affordable premiums to ensure high coverage, without emptying the pockets of the policyholder

Who should buy a Rs 75 lakh term insurance plan?

It’s never too early or too late to buy a plan that gives you a sum assured of Rs 75 lakh. It is a good idea to buy a Rs 75 lakh term insurance plan even if you are in your 20s or 30s, with a regular source of income. This plan offers long term coverage for your family members. However, even if you are in your 40s, it makes sense to opt for a Rs 75 lakh term plan that lets you plan your children’s education, pay your EMIs and draw up lavish wedding plans for your children without worrying about the future. If you are no longer around to take care of your family, this plan will be able to take care of their needs as well as help continue to pursue their dreams.


1. Should I avail the Rs 75 lakh term insurance plan?

If you have long term goals and are starting to plan early on, there’s no better policy than this one.

2. Can the death benefit be extended after the tenure ends?

No. The benefits are applicable only until the tenure of the policy.

3. Does the policyholder enjoy the policy benefits, in the case of failure to pay premiums?

Every insurance provider has a different set of rules. While most offer a grace period, the benefits will lapse if you fail to pay the premium within that time.

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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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Author Profile Written By:
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.

##As per the number declared in the investor presentation. View here.

#Provided we have received all the relevant and required documents and no further investigation is required. Claim settlement process would be completed within stipulated timelines once the claim request is approved

^ Available under Life & Life Plus plan options

*As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.

***Online Premium for Life Option, Male Life Assured, Non-Smoker, 25 years of age, Policy term of 30 years, Regular pay, Annual frequency, exclusive of taxes and levies as applicable. (Annualized Premium of 7383/365=20.22)

ARN - ED/05/23/1839