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20K Salary Term Insurance Plan

A 20k salary term insurance plan is a smart way to protect your family, even if you earn ₹20,000 a month. It offers high life cover at a low premium, ... Read more so your loved ones get financial support if something happens to you. Instead of thinking insurance is only for high earners, you can start small and stay covered from the beginning of your career. It’s one of the easy way to secure your future early. Read less

A 20k salary term insurance plan is a smart way to protect your family, ... Read more even if you earn ₹20,000 a month. It offers high life cover at a low premium, so your loved ones get financial support if something happens to you. Instead of thinking insurance is only for high earners, you can start small and stay covered from the beginning of your career. It’s one of the easy way to secure your future early. Read less

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Get Life Cover of ₹1 Crore by paying a premium of

₹7,085/month (for 30 years)

₹8,287

saving Save ₹1,202 with discounts

₹ 4.2 Lakh

₹ 1 Crore

You Pay (Total)

You Get (Life Cover)

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Discounts

2% Milestone discount

2% discount on 1st year premium on these milestones

Event	Eligibility
Wedding (1 wedding only)	Within 6 months before or after the date of wedding
Birth/ Adoption of 1^st child*	Within 6 months before or after the birth/ adoption date
Home loan	Within 6 months of loan getting sanctioned
First job	Within 6 months of joining date

*Policy issuance eligibility for female customers will be determined by Board Approved Underwriting Policy (BAUP)

The above milestones cannot be clubbed to avail more discount, Such discount shall be capped to a maximum of ₹500 over the year.

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Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V11)

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Get ₹1 Crore Life Cover
@₹501/month¹

Up to 18.5% discount² (1^st year premium)
Return of premium³ option
4 hour claim settlement⁴

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Why is it important to invest a salary share in term insurance?

At the start of your career, income may be limited, so saving or investing can seem difficult. This is where a term insurance plan for 20k salary becomes helpful. It offers life cover at a low premium, making it affordable even for a ₹20K salary earner. In simple terms, it protects your family financially if you pass away suddenly. It can support monthly expenses, clear loans, and create a lump sum for future needs. Some plans also support you with critical illness payouts.

How much should you invest if you earn 20k per month?

There is no fixed rule based on income or age for buying term insurance. You can invest in term insurance on a 20k salary and can start with very low premiums, sometimes under ₹500 per month.

A common method suggests life cover of 10 to 12 times your yearly income. With a ₹20,000 monthly salary, this comes to around ₹24–29 lakhs. This level of cover offers useful financial support while staying within budget. You can also use a term insurance calculator to find a plan that aligns with your needs.

Our bestselling Term Insurance plans

Choose a Tata AIA term insurance plan that suits your needs

Tata AIA

Sampoorna Raksha Promise

Get ₹1 Cr cover at 501/month¹
Up to 18.5% discount² (1^st year premium)
Option to get all premiums back³

Calculate Premium

Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN:110N176V11)

Tata AIA

Maha Raksha Supreme Select

Get ₹2 Cr life cover at 679/month⁷
Up to 18.5% discount² (1^st year premium)
Waiver of premium if diagnosed with Terminal illness

Calculate Premium

Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V14)

How much coverage should you get if you earn ₹20K per month??

When choosing term insurance on 20k salary, the key is balancing protection and affordability. A life cover should be worth 10–15 times annual income. For a ₹20,000 monthly income, this is approximately ₹25–40 lakh. While selecting coverage, review dependants, existing loans, and future goals. Keeping the premium affordable is important, but core protection should not be reduced.

Features and benefits of term insurance plans on a ₹20K salary

The features and benefits of a term insurance plan on a 20k salary are as follows:

Riders for additional protection
You can add riders like accident cover, disability cover, or a critical illness rider to enhance protection for unexpected situations.
Affordable premiums
Even on a ₹20K salary, you can get a ₹25 lakh plan with a pocket-friendly premium, making financial security realistic..
Flexible premium payment
Pay monthly, quarterly, half-yearly or yearly, based on your budget. Some plans offer limited-pay options as well.
Financial support
A term plan helps protect a spouse, children, or parents so they don’t struggle with financial burden during a difficult time.
Tax savings
Premiums may qualify for tax⁵ deduction under Section 80C, and death benefits are tax-free under Section 10(10D) (as per rules).
Accessible option for women too
Many insurers provide suitable options for women, including plans designed around different financial roles and responsibilities.

Conclusion

A 20K salary term insurance plan supports financial responsibility even at early income stages. It focuses on family protection, income continuity, and responsibility coverage. Starting early supports long-term security planning without affecting current lifestyle needs. A suitable plan ensures dependants stay financially supported during unforeseen situations.

How much coverage can I get with a ₹20K salary term insurance plan?

With ₹20K salary, you can usually get a ₹10 lakh to ₹50 lakh cover, based on age, health, term, and insurer rules.

What factors should I consider when choosing a term insurance plan on a ₹20K salary?

Check the sum assured, premium affordability, policy term, claim support, and additional riders like accident or critical illness cover.

What riders are available for a 20k salary term plan?

Common riders include accidental death benefit, disability rider, critical illness rider, and premium waiver rider, depending on plan options.

How affordable are the premiums for a ₹20K salary term insurance plan?

Premiums are quite low. Many plans start around ₹400 per month, especially if you buy at a young age and maintain good health.

Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V11)
Tata AIA Maha Raksha Supreme Select - Non-Linked, Non-Participating, Pure Risk, Individual Life Insurance Product (UIN: 110N171V14)
¹As per the duly approved product design and terms & conditions of the product, illustrated premium of ₹501 is the monthly premium for a 20 yr. old female, Standard Life, Non-Smoker for ₹1 Cr. Sum Assured with Policy Term of 20 yrs. (Regular Pay) under Life Promise Option of Tata AIA Sampoorna Raksha Promise with first year premium discount of 10% for digital purchase and 8.5% for salaried person. Please refer Benefit Illustration for more details.
²As per the duly approved product design and terms & conditions of the product, this includes first year digital discount of 10% for Limited Pay/Regular Pay and 8.5% salaried discount. For Single Pay, 1% discount will be available for online purchase and salaried discount each.
³Under Life Promise Plus Option, an amount equal to the 100% of the Total Premiums Paid (excluding loading for modal premiums) shall be payable at the end of the Policy Term, provided the life assured survives till maturity and the policy is not terminated earlier.
⁴Applicable to only non-early claims with more than 3 years of policy duration, non-investigation cases, up to Sum Assured of ₹50 Lakh. Applicable for branch walk in. Time limit to submit claim to Tata AIA Life Insurance is 2 pm on working days. Subject to submission of complete documents. Not applicable for ULIP policies and open title claims.
⁵Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
No Goods and Service Tax shall be applicable on Individual life insurance products as per prevailing laws. Tax laws are subject to amendments from time to time. If any imposition (tax or otherwise) is levied by any statutory or administrative body under the Policy, Tata AIA Life Insurance Company Limited reserves the right to claim the same from the Policyholder.
⁶Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums, and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.
⁷As per the duly approved product design and terms & conditions of the product, Illustrated Premium of ₹679 is the monthly premium for 20 yr. old female, Standard Life, Non-Smoker for 2 Cr. Sum Assured with Policy Term of 20 yrs. (Regular Pay) with Life Secure plan option of Tata AIA Maha Raksha Supreme Select with first year premium discount for digital purchase and salaried person.
This product is underwritten by Tata AIA Life Insurance Company Ltd.
The plan is not a guaranteed issuance plan, and it will be subject to company’s underwriting and acceptance.
Insurance cover is available under this product.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. The precise terms and condition of this plan are specified in the Policy Contract.
Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs, and the Surrender Value payable may be less than the all the Premiums Paid.
In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
L&C/Advt/2026/Feb/0924