INCOME TAX4 Sept 2026
Student Term Insurance: When does it make sense and who should consider it? | Mint
Term insurance isn't just for working people now. Insurers offer students policies mainly because education loans can leave families with unpaid debt if a student dies. A term plan can cover that. Premiums are low when young: about ₹387 to ₹479 a month for a 20-year-old for a ₹50 lakh cover. But if there's no loan or dependents, waiting can make sense.
Key Statutory Highlights
- Insurers now offer term insurance to students, especially to protect families from education loan repayment if a student dies.
- Premiums for a ₹50 lakh cover over 40 years range from ₹387 to ₹479 per month for a 20-year-old.
- Students without significant liabilities or dependents may not need life cover immediately.
Actionable Advice for Taxpayers / Founders:Check whether any existing life insurance already covers your family's education loan, and if not, compare term plans for young adults to see if the premium fits.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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