Term insurance is the most straightforward form of life cover and often the most underutilised. A high sum assured, low premium, and a clearly defined purpose: if you’re not there, the people who depend on you aren’t left without a financial foundation.

It’s the purest form of life insurance, and at MPG Insurance Broking LLP, we think it deserves more than the five minutes most people spend on it. We help individuals and families choose a term plan that genuinely covers what they need it to cover not just what fits the marketing materials.

What Makes a Good Term Insurance Plan?

Adequate Sum Assured

The most common mistake with term insurance is buying too little cover. A sum assured should account for your outstanding liabilities home loan, business debt plus the income replacement your family would need for a meaningful period of time. We help you arrive at that number thoughtfully, not arbitrarily.

The Right Policy Term

Your term should ideally cover the period during which your dependants are financially reliant on your income. For most people, that means covering the years until children are independent and loans are repaid. We help you map that realistically so you're not underprotected in the critical middle years.

Rider Options

A base term plan pays out on death. Riders can extend the coverage to include accidental death benefits, critical illness diagnosis, permanent disability, and waiver of premium. Depending on your health history and lifestyle, the right combination of riders can make a significant difference to the practical usefulness of your policy.

Insurer Claim Settlement Record

Premium is important. But for a protection product, claim settlement ratio matters just as much. We advise on insurers who have demonstrated reliability in paying claims because the cheapest policy is worthless if it doesn't pay when it should.

Term Insurance for Business Owners

If you run a business, the financial consequences of your absence extend beyond your family. There may be business loans secured against personal guarantees, partners who need protection, or employees whose livelihoods depend on the continuity of the firm. Term insurance sometimes combined with keyman cover can be structured to address those business-level risks as well.

We’re one of the few brokers in Mumbai who think about term insurance this way. It’s a planning conversation, not just a product transaction.

Find the right term plan for where you are in life.

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