Increasing and Decreasing Sum Assured Plans

What Is Term Insurance?

At its core, Term Insurance is a pure protection plan straightforward, affordable, and powerful. You pay regular premiums for a defined period (the term), and if the unexpected happens during this time, your loved ones receive a lump sum financial benefit to support living expenses, liabilities, education, EMIs, and more.

Term insurance is designed to offer maximum life cover with minimum fuss, making it one of the most recommended pillars of smart financial planning. With Jio Insurance Broking, you get access to a range of competitive Term Insurance Plans from trusted providers, personalised to your needs and budget.

The Two Strategic Variants in Term Insurance

Not all term plans are created equal. While the common level term plan keeps the sum assured constant throughout, two dynamic alternatives Increasing and Decreasing sum assured plans offer flexibility for evolving life needs.

Increasing Sum Assured Plans

Imagine your financial responsibilities growing year after year, children's education, lifestyle inflation, bigger loans, or changing goals. A Term Insurance plan with increasing sum assured is built precisely for this reality.

What It Means?

• Your coverage amount increases annually at a pre-decided rate (like 5–10%).
• Premiums usually remain fixed throughout the policy term.
• So, your loved ones get a larger benefit over time, even if your income and expenses rise.

Why It’s Smart?

• Beat Inflation: ₹1 crore today isn’t the same in 15 years increasing cover helps your plan keep pace with the rising cost of living.
• Grows With You: As responsibilities expand a home, kids, or lifestyle your coverage grows with them without the hassle of new medical checks.
• Affordable Long-Term Protection: Because premiums are fixed, you get increasing protection without the stress of rising costs later.

Perfect for young professionals, growing families, and anyone who wants future-ready protection.

Decreasing Sum Assured Plans

On the flip side, if your insurance goal is to cover reducing financial obligations like a home loan that you’re paying off over time then a decreasing cover plan may be ideal.

What It Means?

• The sum assured decreases over the years at a set percentage.
• The structure mirrors your falling liabilities e.g., as your home loan principal drops.
• Premiums often remain lower than level or increasing plans, making this a cost-efficient choice.

Ideal For

• Loan protection: If you want your term cover to align with decreasing debt.
• Budget-conscious planning: Lower premiums mean you can still get strong protection.

Just remember: the payout your family receives upon an unforeseen event corresponds to the coverage level in effect at that time.

Which Plan Is Right for You?

Choosing between increasing and decreasing sum assured plans depends on your personal financial journey:

Each of these has its benefits and with Jio Insurance Broking, our experts help you weigh them against your goals, lifestyle, and future plans.

Why Choose Term Insurance Through Jio Insurance Broking?

With so many options available in the market, the real power lies in choosing the right one for you. Jio Insurance Broking makes this easy:

• Tailored Guidance: Get expert support in comparing top Term Insurance Plans.
• Flexible Options: From increasing cover to rider add-ons choose what fits your life.
• Simple Online Purchase: Quick quotes, transparent choices, and hassle-free buying.
• Tax Benefits: Enjoy tax deductions under Section 80C on your premiums and tax-free death benefits under Section 10(10D).

Life is dynamic and your term insurance should be, too. Whether you’re planning for a growing family, preparing for future responsibilities, or safeguarding against liabilities, increasing and decreasing sum assured plans give you the flexibility and protection you deserve.

With Jio Insurance Broking, you’re not just buying a policy, you're empowering your loved ones with a strong financial shield that evolves with your life.

Ready to secure tomorrow? Explore tailored Term Insurance Plans with Jio and choose the cover that fits your journey.