Know How Term Insurance Plan Enhances Well-being and Access to Healthcare

term insurance plan

In India, accessing essential healthcare services is straightforward, with emergency rooms available around the clock for all ailments. However, the costs can be high for many. The growing insurance industry is addressing this by making healthcare more affordable, significantly bridging the gap in access.

But how can you enhance your well-being and access to healthcare? One way to do so is by getting a term insurance plan. A term insurance plan provides you with access to coverage against your life in exchange for a premium. Before you buy a term insurance plan, you should understand that while it is your life that is covered, the ideal beneficiaries are your loved ones. Take into account their needs, their future needs and the purposes for which they can use the sum assured in case you are faced with an unfortunate incident.

The term insurance plan helps them lead their lives without making a difference in their living standards and prevents them from panicking about finances.

Let’s get into how a term insurance plan enhances access to healthcare:

1. Affordable Premiums: The premiums paid for a term insurance plan are pretty inexpensive in comparison to the sum assured. For an annual premium of ₹ 15,000, you can get a sum assured of about ₹1 Crore.

2. Ease of availability: Term insurance plans are easily available for anyone to purchase. Any individual who is of legal age and a resident of India can avail of term insurance based on their needs. The term insurance is also available online.

3. Customise with riders: Adding riders to a term insurance plan can increase the premiums you pay. These riders allow you to stay protected against critical illnesses and permanent disability and provide relief during accidents.

4. Security for the family: When you encounter an unfortunate incident, your beneficiary gets the sum assured, either in a lump sum or in instalments. Your family can use the sum received for better healthcare, education, recovering debt or any other purpose.

5. Collateral against personal loans: If you have to borrow a personal loan to meet a medical or personal emergency, your term insurance plan can act as collateral. It helps you secure the loan amount you need for your emergency while allowing you to get favourable terms for the loan that you borrow.

These are a few of the ways that you can enhance your access to healthcare with a term insurance plan. Below are a few points you should consider while purchasing and investing in a term insurance plan:

– Coverage amount

– Tenure

– Premium amount you can afford

– Claim Settlement Ratio

– Policy terms and conditions

– Other similar policies from competitors

– Inclusions and Exclusions

The above pointers will help you obtain the comprehensive policy you need and assist you in making better financial decisions.


Securing a term insurance plan is a strategic move for enhancing your well-being and healthcare access in India. With its affordable premiums, customisation options through riders, and the significant financial security it offers to your loved ones, a term insurance plan is more than just a safety net—it’s a vital component of responsible financial planning. By carefully considering your options and selecting a plan that meets your needs, you can ensure that you and your family have the support needed to maintain a high quality of life, even in the face of unexpected events. Remember, investing in a term insurance plan is not just about protecting the future; it’s about creating peace of mind for today.