MoneyLens / Term life insurance
Your life cover, explained.
Tungabhadra Secure Term Plus · Tungabhadra Life Insurance Ltd
Illustrative
Term life · Pure protection · Policy held
Policy 10 May
Life cover
₹1,00,00,000
lump sum and income
Cover until
Age 64
in 2054
Premium
₹17,900
a year for 30 years
3-year rule
10 May 2027
until then, disclosure can be questioned
₹1,00,00,000 of life cover until age 64, ₹17,900 a year for 30 years. Until 10 May 2027 a claim can be questioned for anything not disclosed.
Myra's most important observations
What Myra found for you
From your documents · each figure opens its findingAt risk
If it happens: scenarios, not added together
Six questions, answered
Tap an answer for the detail01What's in this check
- PolicyTungabhadra Secure Term Plus
- InsurerTungabhadra Life Insurance Ltd
- KindLevel cover
- Age at entry34
- Cover started10 May 2024
- DocumentsPolicy schedule
02In short
₹1,00,00,000 of life cover until age 64, ₹17,900 a year for 30 years. Until 10 May 2027 a claim can be questioned for anything not disclosed.
03Key numbers
Policy heldLife cover
₹1,00,00,000
Level
Cover until
Age 64
2054
Premium
₹17,900
Yearly · with riders
Premiums in all
₹5,37,000
30 years
Riders
1
Accidental death
04Important findings
Most important first · tap to expandA nominee receives the money; the nominee can be changed any time while the policy is in force, by writing to the insurer. This policy isn't under the MWP Act; a policy under it keeps the money out of reach of creditors, but it has to be chosen when buying. Keep the nominee's details current, and tell them the policy exists.
Policy p.2, MWP Act · Policy p.2, Nominee
Coming up
10 May 2027
the 3-year rule is reached
08What Myra could not verify
0Nothing essential is missing.
09Suggested questions
05What you're committing to
- A premium every year for 30 years to keep the cover
- Everything disclosed in the proposal: health, habits, income, other policies
- The nominee kept up to date, and told the policy exists
06What can change
- PremiumFixed for the term, as the schedule states
- CoverStays the same
- RulesIRDAI's and the tax rules, by their dates
07Getting out
- Free look30 days from receiving the policy
- Stopping premiumsCover ends; no refund
- RevivalWithin 5 years of the first unpaid premium