TERM INSURANCE

Yes, payouts are tax-free under Section 10(10D) of the Income Tax Act. Premiums paid may also qualify for tax deductions under Section 80C

Premiums depend on factors like age, health, lifestyle habits (e.g., smoking), coverage amount, and policy tenure. Smokers usually pay higher premiums

Term insurance covers all causes of death, while accidental death insurance only pays out in the event of an accident​

Generally, term insurance does not provide survival benefits unless you opt for a "Return of Premium" plan, which refunds the premiums if you outlive the policy term