MoneyLens / Term life insurance
Your life cover, explained.
Betwa Term Shield · Betwa Life Insurance Ltd
Illustrative
Term life · Pure protection · Policy held
Policy 14 Aug
Life cover
₹75,00,000
lump sum
Cover until
Age 60
in 2041
Premium
₹11,800
a year for 22 years
Revive by
14 Aug 2031
the policy has lapsed
₹75,00,000 of life cover until age 60, ₹11,800 a year for 22 years. Past the 3-year rule: the policy can't be called in question. The policy has lapsed; it can be revived until 14 Aug 2031.
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
- PolicyBetwa Term Shield
- InsurerBetwa Life Insurance Ltd
- KindLevel cover
- Age at entry38
- Cover started14 Aug 2019
- DocumentsPolicy schedule · Lapse notice
02In short
₹75,00,000 of life cover until age 60, ₹11,800 a year for 22 years. Past the 3-year rule: the policy can't be called in question. The policy has lapsed; it can be revived until 14 Aug 2031.
03Key numbers
Policy heldLife cover
₹75,00,000
Level
Cover until
Age 60
2041
Premium
₹11,800
Yearly
Premiums in all
₹2,59,600
22 years
Riders
None
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. Keep the nominee's details current, and tell them the policy exists.
Policy p.2, Nominee
Coming up
14 Aug 2031
the last day to revive
08What Myra could not verify
0Nothing essential is missing.
09Suggested questions
05What you're committing to
- A premium every year for 22 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 look15 days from receiving the policy
- Stopping premiumsCover ends; no refund
- RevivalWithin 5 years of the first unpaid premium