2 weeks ago
Policybazaar Launches Student Term Insurance Starting At ₹25 Lakh
Policybazaar has started offering life insurance plans for students.
Students aged 18 to 25 may be eligible for these plans.
The insurance provides money to beneficiaries if the insured person dies during the policy period.
Coverage starts at ₹25 lakh.
Some plans can last for 30 to 40 years.
Students may pay monthly, quarterly, half-yearly or annually.
Parents’ income may sometimes be used to show that the student can afford the policy.
The final price depends on factors such as age, health and the amount of coverage chosen.
Policybazaar introduced term insurance for students aged 18 to 25, with life cover starting at ₹25 lakh.
The offering was launched with ICICI Prudential Life Insurance and Axis Max Life Insurance.
Plans offer 30- to 40-year terms, with monthly, quarterly, half-yearly and annual payment options.
Some premiums start at ₹388 per month for ₹50 lakh cover for an eligible 18-year-old non-smoker without pre-existing diseases.
The policies target students with education loans or other financial responsibilities before full-time employment.
- Who
- Policybazaar, in partnership with ICICI Prudential Life Insurance and Axis Max Life Insurance, is offering the plans to eligible students aged 18 to 25.
- What
- A student-focused term insurance offering with life cover starting at ₹25 lakh.
- Where
- The plans are available online through Policybazaar’s platform.
- When
- The article does not specify a launch date.
- Why
- The offering is intended to help students with education loans or other financial responsibilities obtain coverage before starting full-time employment.
Key facts
- Eligible age
- 18 to 25 years
- Starting life cover
- ₹25 lakh
- Policy terms
- 30 to 40 years
- Example starting premium
- ₹388 per month for ₹50 lakh cover for an 18-year-old non-smoking applicant without pre-existing diseases, under a 30-year term
- Payment options
- Monthly, quarterly, half-yearly and annual
- Optional riders
- Critical illness and accidental death riders, subject to insurer-specific terms and eligibility
- Availability
- Online through Policybazaar’s platform
Sources
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