Gurugram, August 19, 2026: Policybazaar has launched a dedicated Student Term Plan in partnership with leading insurance companies, offering young Indians an early and affordable route to financial protection. The product is designed for students aged 18 to 25 years and provides life cover options starting from ₹25 lakh.
The offering aims to address the insurance gap among students, particularly those taking education loans or carrying emerging financial responsibilities. Under the plan, premiums can start at ₹388 per month for ₹50 lakh life cover for an 18-year-old purchasing a 30-year term plan, subject to eligibility, health and other applicable conditions.
Students can opt for coverage periods of 30 to 40 years and choose from annual, semi-annual, quarterly or monthly premium payment options. Additional protection through riders covering critical illness and accidental death is also available.
According to Policybazaar, the product is intended to protect families from potential financial stress arising from education loans and other liabilities in the event of the policyholder’s death.
Vivek Jain, Chief Business Officer, Policybazaar, said the student segment remains underserved despite young people increasingly taking education loans, supporting families and beginning their careers. He added that the plan seeks to remove affordability and accessibility barriers to life insurance.
Insurer partners including ICICI Prudential Life Insurance and Axis Max Life Insurance are participating in the offering. ICICI Prudential Life’s ICICI Pru iProtect Smart Plus enables eligible students to access term insurance at an early stage by leveraging their parents’ income as proof of financial capacity.
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The Student Term Plan is now live on Policybazaar.com, allowing eligible students to compare, customise and purchase coverage online. The initiative also highlights the affordability advantage of purchasing term insurance at a younger age, when premiums are generally lower and can remain fixed throughout the policy term.
