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Complete insurance hub for Indian households — term, health, motor, life. Section 80C + 80D tax benefits. IRDAI-compliant insurer recommendations.
Most Indian households need only 2 insurance products:
Plus motor insurance (mandatory third-party). Everything else (ULIP, endowment, money-back plans) is bundled product — usually you're better off with pure term insurance + ELSS / index fund mix.
Term Insurance →
Cheapest pure protection — ₹1 crore cover for ₹15-30K/year typical. Compare top plans (HDFC Life Click 2 Protect, LIC e-Term, Tata AIA, Max Life).
Life Insurance (Endowment + ULIP) →
Endowment vs ULIP vs Pure Term — why most people should pick pure term + invest separately in ELSS / index funds.
Section 80C — Life Insurance Premium
Life insurance premium (term, endowment, ULIP, money-back) eligible under 80C up to ₹1.5 lakh per FY. Combined cap with EPF, PPF, ELSS, etc. Old regime only. Premium must not exceed 10% of sum assured for full deduction (policies issued April 2012 onwards).
Section 80D — Health Insurance Premium
Self / family premium: ₹25,000 (₹50,000 if any insured is senior citizen 60+). Parents (separate): ₹25,000 (₹50,000 if senior). Total max: ₹1 lakh if self family + senior parents. Preventive health check-up: ₹5,000 sub-limit. Old tax regime only — the new regime (s.115BAC) allows no 80D deduction.
The standard policy is Bharat Griha Raksha. Since 1 April 2021 every general insurer that sells fire insurance must offer this IRDAI standard home policy. It covers the building against 14 insured events, including fire, earthquake, storm, cyclone, flood, landslide, riots and terrorism, so earthquake and flood are no longer add-ons. Gradual seepage and wear are not covered.
Insure the rebuilding cost, not the market price. The building sum insured is what it would cost to reconstruct (built-up area × current construction rate). Market value includes land, which is never insured, so using it only raises the premium.
Contents and jewellery. When you insure building and contents together, Bharat Griha Raksha adds contents cover of 20% of the building sum insured, up to ₹10 lakh. Jewellery and other valuables are excluded unless you add the optional valuable-contents cover.
Tenants and home-loan borrowers. Home insurance is not legally compulsory, but most lenders require structure cover on a home loan, and a landlord's policy never covers a tenant's belongings, so tenants need their own contents policy. Structure cover stays with the property when it is sold; contents cover stays with the owner.
Track all your insurance policies (term, health, motor) alongside your investments. Felix flags when renewals are due, sum-assured needs uplifting (after life events), and when an insurer change makes sense.
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