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Term Life Insurance that Welcomes Change

1 Crore Term Insurance Starting @ ₹18/day*

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18% Cheaper Now - Zero GST

Get instant savings with zero extra charges.

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99.29% Claim settlement ratio*

Proven reliability your family can count on.

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Save up to ₹54,600* on your taxes

Earn smart tax benefits while you protect.

ARN: L0130 | *T&C Apply
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30 Lakh Term Insurance

Term insurance is one of the most reliable ways to secure the financial future of your loved ones. A ₹30 lakh term insurance plan is a smart and affordable option, depending on your income, lifestyle, and financial goals. It ensures that your family stays financially protected in case of your unfortunate demise. This plan is an ideal coverage option for individuals looking for essential protection without overspending.

Term insurance is one of the most reliable ways to secure the financial future of your loved ones. A ₹30 lakh term insurance plan is a smart and affordable option, depending on your income, lifestyle, and...
Term insurance is one of the most reliable ways to secure the financial...
Home>Life Insurance>Term Insurance>

30 Lakh Term Insurance

Quick Links

  • Meaning
  • Key Features
  • Why Choose from ACKO?
  • Who Should Buy?
  • How to Decide If a ₹30 Lakh Term Insurance Plan Is Enough for You
  • 5 Tips to Get the Maximum Benefit from Your 30 Lakh Term Insurance Plan
  • Conclusion
  • FAQs

What is a 30 Lakh Term Insurance Plan?

A ₹30 lakh term insurance policy offers a life cover of ₹30 lakh to your family in case of your untimely death during the policy term. In simple terms, your nominee will receive ₹30 lakh as a death benefit, which can be used to cover daily expenses, children’s education, outstanding loans, or other financial commitments.

Key Features of a ₹30 Lakh Term Insurance Plan

A ₹30 lakh term insurance plan offers solid financial protection at a cost that fits most budgets. Key features of 30 lakh term insurance include:

  • A sum assured of ₹ 30 lakh at affordable premiums.
  • Flexible policy term (e.g., 10, 20, or 30 years).
  • Payout to the nominee upon the policyholder’s death.
  • No maturity benefit if the policyholder survives the term (in a regular plan).

With a ₹30 lakh term insurance plan, you get peace of mind knowing that your loved ones will not face financial burden in your absence.

Why Choose a 30 Lakh Term Insurance Plan from ACKO?

ACKO Term Insurance redefines the way you approach financial protection. At ACKO, the goal is to make getting insured simple, transparent, and stress-free. Here’s what ACKO Term Insurance means for you:

Affordable Protection

A 30-lakh sum assured plan involves a very nominal monthly or yearly premium, making it budget-friendly for young professionals and families.

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Easy and Transparent Process

ACKO’s online system is easy to operate. There is no need for physical paperwork. You will get detailed information about premiums, coverage and benefits.

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Tax Benefits

You will get tax deductions for the premiums you pay for your ACKO Term Insurance policy, under Section 80C of the Income Tax Act. Additionally, the amount your nominee receives is tax-free under Section 10(10D).

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The table below highlights the key differences between ACKO term insurance and traditional plans

FeatureACKO AdvantageTraditional Plans
   
Claim Settlement Ratio99.29%*Varies from 95-98%
Policy AdjustmentsInstant changes via appOften requires paperwork
Coverage FlexibilityIncrease or decrease coverage anytimeUsually restricted to life events
Cost EfficiencyUp to 40% savingsHigher premiums
Premium StabilityAge-wise premiums remain fixedMay increase with inflation
Digital Experience100% online processOften requires offline steps
Free Will CreationYesGenerally not offered

Who Should Buy a 30 Lakh Term Insurance Policy?

While term insurance needs vary from person to person, here are some individuals for whom the ₹30 lakh term insurance plan may be ideal.

  • Young professionals beginning their careers are seeking affordable insurance plans.
  • Parents with school-going kids who want to secure their family’s education and living expenses in case of an untimely death.
  • Newly married couples want to ensure their partner’s financial security.
  • People who have taken small loans and are looking for an equivalent amount to repay their outstanding debts.
  • Small-business owners or freelancers with uncertain income and are wanting to protect their family’s future.

How to Decide If a ₹30 Lakh Term Insurance Plan Is Enough for You

While a ₹30 lakh term insurance plan might look sufficient, do not take a hasty decision. Consider these factors.

Your annual income

Experts recommend a coverage amount of at least 15 to 20 times your annual income.

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Existing loans or liabilities

Ensure your coverage can clear debts, such as a car loan, education loan, or home EMI.

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Family’s future expenses

Estimate future needs, including your children’s higher education, marriage, or health care.

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Inflation rate

Costs increase over time; your coverage should provide real value when you need it.

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Existing insurance policies

Combine your current covers to identify the shortfall.

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If a ₹ 30 lakh sum assured fits within these calculations, it can serve as a strong foundation for your protection plan.

5 Tips to Get the Maximum Benefit from Your 30 Lakh Term Insurance Plan

Here are some simple tips to help you maximise the value of your ₹30 lakh term insurance plan.

  1. Start Early: The earlier you buy, the lower your premium will be.
  2. Be Honest: Do not hide any facts about your health, habits, and medical history if you want to avoid claim rejection.
  3. Review Periodically: Reconsider your lifestyle every year to determine if you need a larger coverage.
  4. Be Careful: Ensure the nominee details you entered are correct and up to date.
  5. Keep Your Nominees Informed: Do not withhold any information about the policy from your family.

Conclusion

A ₹30 lakh term insurance can serve as an essential backbone for your family’s financial future, especially for individuals starting their careers. It offers a balance of affordability and meaningful protection against life’s uncertainties. With ACKO Term Insurance, you not only get this financial assurance but also enjoy the simplicity, transparency, and convenience of managing your policy online.

Frequently Asked Questions

The entire purchase process is online and paperless. You can get a quote, apply, undergo medical tests (depending on age and health), pay premiums digitally, and receive your policy documents online.

A ₹30 lakh term insurance plan is suitable for young professionals, small business owners, or those seeking affordable term plans to protect their family’s basic needs.

ACKO has a high claim settlement ratio of 99.38%.

A ₹30 lakh term insurance plan is highly affordable, especially if you buy it early in life. Premiums are generally low because term plans offer pure life cover.

Yes, ACKO’s Life Flexi Term Plan allows you to increase or reduce your sum assured.

Your premium depends on factors like age, lifestyle, income, medical history, and smoking habits.

Yes, premiums paid for a ₹30 lakh term insurance plan qualify for tax deductions under Section 80C of the Income Tax Act.

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Written by Neviya Laishram

1.7K Linkedin Followers Author dot Icon

Reviewed by Vaibhav Kumar Kaushik Author info Icon

A senior editor with years of expertise, she fine-tunes content that connects, converts, and builds trust. She transforms heavy life insurance concepts into clear, aha-moment reads. Writing is her passion, and thinking ahead is second nature. When not wrangling words, she’s crushing game levels because every challenge is a puzzle waiting to be solved.

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Sr. Content Editor

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ACKO Technology & Services Private Limited
CIN: U74110KA2016PTC120161
The use of images and brands are only for the purpose of indication and illustration.
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Company
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Contact us
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All resources
Customer stories
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Articles
E-books
Guides
Legal
Financials & disclosures
Privacy policy
Terms & conditions
Auto products and services
Car
Car insurance
Third party car insurance
IDV calculator
Comprehensive car insurance
Zero depreciation car insurance
Car insurance calculator
Car insurance check
Pay as you drive car insurance
Bike
Bike insurance
Third party bike insurance
Bike Insurance calculator
Check bike insurance validity
Scooter insurance
Used bike insurance
Comprehensive bike insurance
EV bike insurance
Own damage bike insurance
Vehicle services and more
Check & pay e-challan
Check vehicle details
Check vehicle PUC status
Recharge FASTag
Check RC status
Health, life, and other services
Health
Health insurance
Health insurance plans for family
Health insurance for parents
Best health insurance in India
Health insurance premium calculator
Health insurance for senior citizens
80D Deduction
1 crore health insurance
Super top up health insurance
Mediclaim policy
Cashless health insurance
50 lakh health insurance
Critical illness health insurance
Compare health insurance plans
Waiting period in health insurance
Life
Life insurance
Term insurance
Term insurance tax benefit
1 crore term insurance
Term insurance calculator
Term insurance for single parents
Term insurance for senior citizens
Affordable term insurance
Critical illness rider life insurance
Accidental death benefit rider In life insurance
Disability income rider
Best term insurance in India
Best life insurance
Group health insurance
Employee health insurance
Group health insurance add-ons
Maternity cover in group health insurance
Group personal accident insurance
Group health insurance for startups
Corporate health insurance
Other services
ABHA
HLV calculator
Will creation service
Health card
ABDM
Ayushman card apply
Abha card registration
Rent receipt generator
Travel
Travel insurance
International travel insurance
Schengen travel insurance
Travel insurance for Dubai
Travel insurance for Thailand
Travel insurance for USA
Enterprise
Health insurance for gig workers
Loan protection for fintechs
Group travel insurance
Auto insurance partnership
Electronic device insurance
Health insurance for corporates
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ACKO Technology & Services Private Limited

#36/5, Hustlehub One East, Somasandrapalya 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102

CIN: U74110KA2016PTC120161
The use of images and brands are only for the purpose of indication and illustration.