The Truth

No One Tells You

The simplest and most affordable way to secure your loved ones’ lifestyle and goals.

Why You Absolutely Need Term Insurance

Let's be real. Life isn't predictable — but your family's future shouldn't depend on luck.

If something happened to you tomorrow:

• Who pays the EMIs?
• Who funds your child's education?
• Who ensures your parents still live with dignity?

That's what term insurance is for:

• It's not an investment.
• It's the income replacement plan for your family
• so their dreams don't collapse when your salary stops.

You don't buy term insurance because you might die. You buy it because your family must live.

At NYVO, we see this every day.The people who plan early don't panic later. They've already secured what matters most.

ULIP vs Term Insurance - Let's Call it What it is

You've met the LIC uncle who says:
“Beta, ULIP le lo — 8% return milega aur ₹10 lakh ka cover bhi!”
Sounds fancy, right?
Wrong. It's a trap — small cover, high cost, low clarity.

Feature	Term Insurance	ULIP / Endowment / Combo Plans
Purpose	Protect your family's future	Mixes investment + insurance
Cover	₹1 crore+ (real protection)	₹10-15 lakh (barely covers basics)
Cost	Lowest — pure protection	5-10x higher premium
Return	None — every rupee protects your family	6-8% (after costs, often less)
Who Wins	Your family	The agent (30% commission)

Mixing insurance with investment is the biggest mistake middle-class India makes.

Keep them separate:

• Protect with Term Insurance
• Grow with Mutual Funds / Stocks / Gold

That's how real financial freedom is built.

Term Insurance Buying Checklist

Claim Settlement Ratio	High-Value Claim Settlement Ratio	Complaint Volume	30-Day Claim Settlement	Solvency Ratio
Look for insurers that settle claims promptly and consistently. Prioritize insurers with a 3-year average and 30-day claim settlement ratio above 97%.	Some companies settle smaller claims easily but delay or reject larger ones. Check the total amount settled as a percentage of total amount claimed — it should be 90% or higher.	Review the number of complaints per 10,000 registered claims. If it's above 20, it's a red flag — consider other insurers.	This metric shows how quickly an insurer processes and pays claims. Ratio above 97% indicates efficient operations, minimal delays, and strong customer support.	A ratio above 1.5 indicates strong financial stability and long-term claim-paying ability. Shows the insurer's capacity to honour claims even in economic stress.

Claim Settlement Ratio

Look for insurers that settle claims promptly and consistently.
Prioritize insurers with a 3-year average and 30-day claim settlement ratio above 97%.

High-Value Claim Settlement Ratio

Some companies settle smaller claims easily but delay or reject larger ones.
Check the total amount settled as a percentage of total amount claimed — it should be 90% or higher.

Complaint Volume

Review the number of complaints per 10,000 registered claims.
If it's above 20, it's a red flag — consider other insurers.

30-Day Claim Settlement

This metric shows how quickly an insurer processes and pays claims.
Ratio above 97% indicates efficient operations, minimal delays, and strong customer support.

Solvency Ratio

A ratio above 1.5 indicates strong financial stability and long-term claim-paying ability.
Shows the insurer's capacity to honour claims even in economic stress.

Must-Have Policy Features

Critical Illness Cover	Terminal Illness Benefit	Waiver of Premium
Provides a lump-sum payout if you're diagnosed with a serious illness that impacts your ability to earn. Survival Period: Choose a policy that pays immediately upon diagnosis. Accelerated vs. Additional Benefit: Prefer a policy that pays the critical illness amount in addition to the term cover (not deducted from it).	If diagnosed with a terminal illness, the insurer pays the entire cover amount upfront, even before death. This gives you financial flexibility during critical times.	Choose a plan that waives all future premiums if you're diagnosed with a critical illness or become permanently disabled. This keeps your policy active even if you can't work.

Critical Illness Cover

Provides a lump-sum payout if you're diagnosed with a serious illness that impacts your ability to earn.
Survival Period: Choose a policy that pays immediately upon diagnosis.
Accelerated vs. Additional Benefit: Prefer a policy that pays the critical illness amount in addition to the term cover.

Terminal Illness Benefit

If diagnosed with a terminal illness, the insurer pays the entire cover amount upfront, even before death. This gives you financial flexibility during critical times.

Waiver of Premium

Choose a plan that waives all future premiums if you're diagnosed with a critical illness or become permanently disabled. This keeps your policy active even if you can't work.

Good-to-Have Features

Zero-Cost Option	Increasing Cover Option	Top-Up Option	Life Stage Benefit	Accidental Death Benefit
Some plans allow you to exit early and get your paid premiums refunded, while keeping your coverage active until that point. Check the conditions and flexibility of this feature. Check the cost of policy with and without this feature.	This plan increases your coverage annually (usually linked to inflation), ensuring your protection grows with your financial needs.	The flexibility to increase your cover later, after a health check, is highly beneficial as your income and responsibilities grow.	Allows you to enhance your cover during major life events — marriage, having children, or other milestones — without reapplying for a new policy.	Adds an extra payout in case of death due to an accident. While not mandatory, it's a valuable add-on if you want additional protection against unforeseen events.

Zero-Cost Option

Some plans allow you to exit early and get your paid premiums refunded, while keeping your coverage active until that point.
Check the conditions and flexibility of this feature.
Check the cost of policy with and without this feature.

Increasing Cover Option

This plan increases your coverage annually (usually linked to inflation), ensuring your protection grows with your financial needs.

Top-Up Option

The flexibility to increase your cover later, after a health check, is highly beneficial as your income and responsibilities grow.

Life Stage Benefit

Allows you to enhance your cover during major life events — marriage, having children, or other milestones — without reapplying for a new policy.

Accidental Death Benefit

Adds an extra payout in case of death due to an accident. While not mandatory, it's a valuable add-on if you want additional protection against unforeseen events.