18 Most Asked Questions on Term Insurance | Know These Before Buying Term Insurance in 2025 | Ditto

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This video is your ultimate guide to the most frequently asked questions around Term Insurance, Term Life Insurance, and Life Insurance that people keep Googling but rarely get honest answers for. We’ve pulled together the top 18 practical insights from thousands of real customer queries we get at Ditto, so you can finally understand how Term Insurance actually works beyond the usual sales pitch.

Many people wonder if buying Term Insurance still makes sense if they already have savings and investments. But Term Life Insurance isn’t about growing your wealth, it’s about protecting it. It shields your family from the need to break long-term investments meant for goals like retirement or your kids’ education if something happens to you. That’s why a Term Insurance plan serves as a powerful buffer, giving your family financial stability while your wealth continues to grow uninterrupted.

Another common confusion is between Return of Premium plans versus regular pure Term Insurance. Sure, ROP gives your premiums back if you survive, but often at almost double the premium cost, with no real growth to beat inflation. That’s why regular Term Insurance combined with disciplined investing generally offers far better outcomes and flexibility.

One of the biggest benefits of buying Term Life Insurance early is locking in low premiums. Once your Term Insurance policy is issued, your premium never changes, even if your health does. Whether you develop diabetes or hypertension later, your rates stay fixed. This is why we keep saying — buy Term Insurance when you’re young and healthy.

Wondering if you can have multiple Term Insurance policies? You absolutely can, as long as your combined cover is aligned with your income and properly disclosed to all insurers. And yes, you can change your nominee anytime, or even add multiple nominees with specified shares. Just keep those details updated, especially after major life events like marriage or children.

Prefer buying Term Insurance online or offline? Online is faster, cheaper (no agent commissions), and puts you in control. Offline may be good if you want hand-holding, but usually costs more and is slower. Either way, claim service under your Life Insurance plan remains the same.

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A lot of people ask about MWPA. It’s a powerful option that locks your Term Life Insurance payout exclusively for your wife and kids — shielding it from creditors or any extended family disputes. But remember, once selected, beneficiaries can’t be changed.

If you move or even pass away abroad, your Term Insurance still pays out as long as you inform your insurer and avoid restricted countries like Iraq or Syria. Medical tests? Yes, almost always needed. But in India, they’re covered by the insurer. NRIs pay upfront but can get reimbursed, plus they enjoy GST waivers if premiums are paid via NRE accounts.

Section 45 is another crucial bit most overlook. After 3 years of holding your Term Life Insurance policy, the insurer can’t reject claims unless clear fraud is proven. That’s why honest disclosures upfront are critical. Similarly, your premiums don’t change if you quit smoking after buying your plan, or if you start later. Your Term Insurance is priced based on what you declared at the start.

And of course, the tax benefits. Under the old regime, premiums under Section 80C reduce taxable income by up to ₹1.5 lakh, while the payout under Section 10(10D) remains fully tax-free for your nominee.

Term Insurance is the simplest form of Life Insurance, but most people buy it wrong — focusing only on the cheapest premium, ignoring tenure, riders, or proper cover. Ideally, your Term Insurance should be about 20-30 times your annual income, running till 60-70 years so your family stays protected through your peak financial years.

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