India is the fifth largest life insurance market in the world's emerging insurance markets, growing at a rate of 32-34% each year. Premiums from IndiaÂ’s life insurance industry are expected to reach Rs. 24 lakh crore (US$ 317.98 billion) by FY31 .This upward growth of the insurance industry can be attributed to growing income and increasing awareness of the customers.

Many people are choosing life insurance because of the benefits it offers for their loved ones. If you are someone who is providing for dependents such as spouse, children, or even your parents, you can only imagine how your absence would impact their lives. Which is why term insurance is necessary to safeguard your familyÂ’s future, should life deal a hard blow to you anytime. Most people hesitate to buy term insurance , thinking they might not get an affordable term insurance quote or because they want to compare plans and choose the one that is best for them.

A quote will depend on several factors - some that you can control by incorporating lifestyle changes and some that are not under your control, but still will be crucial to determine your premium amount. Let us take a look at some of them:

1. Gender: On an average, the life expectancy of women is higher as compared to men and so they pose a lesser risk of claim. Hence, if you are a woman applying for term insurance , you might get a cheaper quote as compared to a man of same age fulfilling similar conditions.
2. Age: This is one of the most important factors since the risk of contracting diseases increase as your age. If you buy insurance early in life, you pay more number of premiums and choose a longer policy term, thus bringing down the price of your premiums considerably. On the other hand, if you take the same term plan say 20 years later, you pay higher premium but for a relatively shorter policy term and hence do not get the benefit of an affordable term insurance quote.
3. Policy Term:Looking at the same example as above you realise the benefit of buying term insurance at a younger age , but also choosing a longer policy term. Long term policies turn out to be cheaper than short term ones, and offer protection for a longer time.
4. Smoking and Drinking:You can say goodbye to your chances of getting a cheaper quote if you either smoke or drink. These lifestyle choices increase your risk of contracting diseases and can also impact your premium rates .
5. Medical Fitness:Since you may have to go through a medical check-up prior to acceptance of your proposal form, you might end up paying higher premium for an adverse health condition, so the more healthy life choices you make, the cheaper the term insurance quote you get.
6. Occupation:If you are an adventure sports enthusiast, or work in any other industry with an increased risk to your life, you might end up paying more premium than someone in a 9 to 5 office job where the work environment is relatively safe. Life insurance quotes are calculated on an individual basis, and hence are different for different individuals. As explained above, you cannot control certain factors such as age and occupation. However, you can make better lifestyle choices such as staying fit and being a teetotaller, as well choose a longer policy term to benefit from an affordable quote.

Our website also provides a premium calculator to help you get a clearer idea of the premium. You can check the premium for the Generali Central Care Plus plan here too. To know more about our term plans and how they meet your particular needs, you can visit our website or talk to our trusted and experienced advisors .