Hardik Lashkari is a Chartered Accountant and finance content specialist with over six years of experience writing for fintech and financial services brands. He specialises in translating complex financial topics into clear, credible content — from insurance and taxation to investing and personal finance. At Gyansurance, Hardik covers the how-to side of term insurance: buying guides, policy maintenance, digital underwriting, and the fine print buyers often miss.
22 articles published
India’s insurance regulator is considering capping agent commissions on a mutual fund-style TER model. Here is what the proposed change means for your policy costs and returns.
You spent weeks researching term insurance. You compared plans, filled out medical forms, paid your first premium. Your family is protected now, right? Not quite. Here’s the uncomfortable truth: nearly 25% of term insurance policies in India lapse within the first five years. That means one in four families loses their coverage before they ever … Read more
Buying term insurance in India feels like navigating a maze blindfolded. You know you need it, but the jargon, the riders, the medical tests, the fine print: it all adds up to decision paralysis. And then there’s the elephant in the room: that deep-seated trust deficit. Will they actually pay when the time comes, or … Read more
Imagine being 30 today with a young family, a home loan, and financial responsibilities. You consider term insurance: coverage till 65 or “till 99.” While lifelong coverage sounds reassuring, it comes at a high cost. This article explores why, for many Indian policyholders, coverage till about age 65 is often more cost-efficient, practical, and suited to … Read more
When buying life insurance, many Indians instinctively choose the longest cover: sometimes till age 99. It feels safe, like a lifelong guarantee. Yet this choice is often driven by psychology, cultural norms, and marketing rather than actual financial need. Understanding these influences helps buyers make rational, cost-effective decisions. Cheat sheet 10.1 lakh Individual death claims … Read more
You have been paying your term insurance premium faithfully for years. Then life throws a curveball: a job loss, a medical emergency, or an unexpected expense that stretches your budget to the breaking point. The premium due date arrives, and you are wondering whether you can simply “pause” your payments without losing everything. Some insurers … Read more
Buying term insurance in India used to mean filling out a paper form, waiting for a medical examiner to visit your home, and then waiting 3-6 weeks for a decision. In the last few years, two technologies have begun reshaping this process: artificial intelligence (AI) in underwriting and digital KYC (Know Your Customer) for identity … Read more
There is a persistent belief in Indian personal finance circles that the earlier you buy term insurance, the better. And in many cases, that is true: premiums are lower when you are young and healthy. But “earlier is always better” is an oversimplification that ignores a basic principle: term insurance exists to protect financial dependents. … Read more
The standard approach to term insurance in India is simple: buy one large policy that covers all your financial obligations. A ₹1 crore or ₹2 crore policy, purchased in your late 20s or early 30s, and held until retirement. It works, but it is not the only approach, and it may not be the most … Read more
In insurance, trust matters. The true measure of an insurer’s reliability lies not just in the premiums they collect but in their ability to honor claims promptly and fairly. In India, the debate between private and public sector insurers often centers on this very aspect. TL;DR Private Insurers Lead in Claim Settlement: Companies like Max Life and Bajaj … Read more
Your family buys term insurance expecting that if the worst happens, the claim will be paid without hassle. In most cases, it is. Industry-wide claim settlement ratios in India are above 98%. But the remaining 1-2% of claims that get delayed, disputed, or denied are often caused by issues that were completely preventable. These are … Read more
When applying for a home loan in India, many borrowers are presented with an additional proposition: purchasing life insurance. While this may seem like a prudent step, life insurance for home loans is not mandatory. The Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority of India (IRDAI) have clarified that financial institutions cannot compel borrowers … Read more
Household budgets are no longer predictable. Prices for food, rent, fuel, and education often rise faster than salaries. If you calculate insurance or emergency cover based only on today’s costs, you may fall short when expenses climb. Learning how to factor in rising and unstable expenses is necessary to avoid being under-insured. Cheat sheet Expenses … Read more
You buy a term plan to guarantee your family’s financial safety. A missed premium turns that certainty into a legal status called a lapse. Lapse is reversible usually but it costs time, money, and peace of mind. Cheat sheet A policy lapses when a premium is not paid even after the regulator mandated grace period … Read more
Life insurance is meant to protect, not profit. Yet in India, many hesitate to buy a product where “nothing comes back.” That’s why term insurance with return of premium (ROP) plans remain popular. They promise full premium refund if you survive, unlike pure term insurance which only pays on death. But does that make them smarter? Or is pure … Read more
Buying term insurance should be simple. It’s the most no-nonsense financial product out there: pay a small premium today to protect your family with a large sum assured tomorrow. Yet, despite its simplicity, most buyers in India either avoid it altogether or buy it wrong. Here’s a fact that should worry you: while life insurers … Read more
Despite the surge in online policy purchases, a significant portion of Indian families still rely on the traditional offline route for buying term insurance. According to IRDAI’s 2024 annual report, nearly 45% of life insurance premiums were still sourced through offline channels such as agents, bancassurance, and branch visits. This preference exists because many buyers value face-to-face interaction, guidance, and handholding in … Read more
You bought term insurance to protect your family. But here’s what most people don’t realize: buying the policy is just step one. Keeping it active is what actually protects them. Unlike health insurance that you actively “renew” each year with a new premium, term insurance renewal works differently. Your premium is locked in when you … Read more
Eight types of term insurance explained: level term, increasing term, decreasing term, TROP, convertible, group, whole life, and joint plans. Learn which combination fits your life stage, debts, and family structure with real examples and a comparison table.
You’ve heard the term “term insurance” thrown around: maybe a friend mentioned it, or your parents nudged you to “get some cover.” But what is it, really? Why does everyone say it’s essential, and when should you actually buy it? Here’s the truth: a term insurance plan is the simplest, cheapest form of life insurance: … Read more
Non-recognised hospitals can void your claim even when treatment is genuine. Always check NABH accreditation before admission. Disease misclassification by insurers can trigger exclusions you didn’t expect. Understand your policy’s exclusion list. Lapsed policies from missed premiums kill claims silently. Always confirm ECS/auto-debit payments are credited. Document errors like wrong hospital names or … Read more
Turning sixty doesn’t mean your financial journey ends: it means it evolves. If you’re still active, enjoy good health, or have loved ones depending on you, buying term insurance now can offer security, flexibility, and peace of mind. Think of it this way: your 30s and 40s are about affordability and responsibility. Your 50s are … Read more