Term insurance, as the name suggests, is a life cover over a fixed period of time, and with fixed premiums payable during that time. If you have started earning and have dependants, it’s essential to buy a term insurance plan. Policybazaar.com provides a comparison table of annual premiums from leading insurers. Keep in mind, these premium levels are for a 30-year-old, non-smoker male who lives in a metro, and is seeking a cover of Rs 1 crore.