Protect your family with 100% pure life insurance
Coverage from
₹25 lakh to ₹100 crore
Adjust your coverage
when you need
ARN: L0130 | *T&C Apply
Coverage from
₹25 lakh to ₹100 crore
Adjust your coverage
when you need
You plan for your family’s future with care, education, a home, and everyday comfort. But life may not always go as expected. An unexpected demise could leave your loved ones facing financial uncertainty. This is where family term insurance may help. It acts as a safety net, offering financial support when it matters most, so your family may continue their lives with stability and fewer worries.
Quick Links
What is Family Term Insurance?5 Key FeaturesKey Benefits of Family Term InsuranceTop 4 Benefits of Family Term InsuranceTypes of Term Insurance Plans for a FamilyHow To Choose the Best Family Term InsuranceWhy Choose ACKO Life Flexi Term Plan?ACKO Life Insurance RidersHow does a Term Life Insurance Plan Work at ACKO?Who Should Buy a Term Plan?How to Buy ACKO Life Flexi Term Plan?Frequently Asked QuestionsA Family Term Insurance policy ensures your family is financially secure if you pass away. It offers affordable premiums. You can customise your policy with add-ons or riders. Some riders include maternity coverage, long-term illness, or accidental death benefits.
Let us go through an example to understand:
Rohit is a 35-year-old working professional and the sole earner in his family. He buys a family term insurance policy with a sum assured of ₹1 crore rupees for 25 years. He also buys accidental death benefit riders and critical illness benefit riders with the plan.
If after a few years, Rohit passes away due to an unexpected situation, the insurance company would pay the sum assured to his family. This would help his family meet their expenses, pay for their children's education, and repay any outstanding loans.
A Family Term Insurance policy offers you and your family valuable features from affordability to life cover. The following are a few of its features.
A family term insurance plan provides your family with pure life coverage. This guaranteed financial security helps your family manage any financial needs and other obligations.
A Family Term Life Insurance plan provides you with a range of years in coverage that suits you and your family. You can always renew the policy before it ends or choose to move over to a Whole Life Insurance policy.
Family Term Life Insurance Plans offer your family pure life coverage and are easy to buy as they are active for a few years at a time. Lower premiums mean lower costs, making this policy a great starting point for first-time insurance seekers.
In Term Insurance, a rider is an add-on you can buy separately. You can customise your Family Term Life Insurance policy with riders suitable for you and your family's lifestyle and requirements. Options include maternity coverage, accidental death, disability and more.
At ACKO, available riders include Accidental Death Benefit, Accidental Total and Permanent Disability, and Critical Illness cover.
Some key benefits of family term insurance include:
Read on to find out more about the useful benefits of buying Family Term Insurance.
There exist a variety of family term insurance plans. Each plan has its unique features and benefits. Let's explore and find the one that best suits your requirements.
Level Term Plans: The premium is fixed for the entire policy term, with the sum assured remaining unchanged.
Return of Premium Term Insurance: It is a life coverage, and the policyholder receives the premiums paid if the policy term is survived.
Convertible Term Insurance: It is highly flexible. Additionally, it can convert the basic term plan into a comprehensive life insurance policy, such as an endowment or whole life policy.
Several factors come into play when choosing the best family term insurance to protect your family financially. Familiarising yourself with these critical elements empowers you to pinpoint the most suitable plan.
Pure and non-linked ACKO Life Flexi Term Plan is a unique plan. It offers all-inclusive coverage for you and a financial safety net for your family. Whether you've bought a new home or started a family, adjust your coverage up or down anytime to fit your needs. Know more→
The working of a term life insurance is quite simple. Let’s break it down for you.
Buying a term insurance plan is practical for everyone, especially those with financial dependents. Here’s a list:
Term insurance is crucial if your loved ones rely on your income, be it your spouse, children, or elderly parents. It ensures financial protection in your absence.
A family term plan is indispensable for those who provide for their families. It guarantees financial stability.
If you have outstanding loans like a car loan, home loan, etc., term life insurance can cover those debts, preventing your family from being burdened financially.
As a single parent, your children depend entirely on you. Term life insurance ensures your kids have financial security if anything happens to you.
The process of buying the ACKO Life Flexi Term Plan is simple.
Initiate the purchase journey via the widget on the website/app.
Select the plan
Answer the questions to determine eligibility and premium.
Pay the premium online.
Receive the policy via email or download it from the app.
Note: This is a generic process; the exact steps can vary depending on the chosen plan and other details.
Here’s a list of common questions and answers related to Family Term Insurance.
Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet, and is subject to changes.
Written by
Neviya Laishram
Senior Editor
A senior editor with years of expertise, she fine-tunes content that connects, converts, and builds trust. She transforms heavy 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.
Reviewed by
Vaibhav Kumar Kaushik
Senior Director – Life Insurance Strategy
Senior Director – Life Insurance Strategy at Acko, I drive customer-centric, digitally led strategies that shape the future of Life insurance. With expertise in new business development, D2C growth, and investment management, I’ve helped build and scale Acko’s Term Life offerings by aligning customer insights with innovative product strategy to fuel sustainable growth.
#36/5, Hustlehub One East, Somasandrapalya 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102
