1) I don't want to put my hard-earned money into a pure term assurance plan if I don't even get back all the premiums paid on survival of the term?
Ans. The benefits of a term assurance plan cannot be understated. A pure term assurance plan is a risk mitigation tool and not an investment product. In the event of your untimely death during the policy term, your dependents get a substantial "sum assured" to enable them to continue living their existing lifestyle, repay loan liabilities and meet long-term financial goals. To achieve this, you only need to pay a premium amount that is a fraction of the "sum assured". A term assurance plan provides life cover at the least possible cost. Moreover, unlike investments, where it takes years to build a suitable corpus, the "sum-assured" on your insurance policy is payable, in the event of your untimely death, from the date of its commencement.

2) Is ICICI Pru Term plan reasonably cheaper compared to others?
Ans. It's among the cheapest ones.

3) Is single premium recommended or regular premium?
Ans. Assuming your regular premium is Rs. 100 pa for a 25 years yearly premium policy, you need to pay approx Rs. 1300 in a single premium, i.e you land up paying 50% of the overall term premium upfront which is a costly proposition.

4) Can I get insurance cover of 5 crore?
Ans. There is no limit to the quantum of insurance that one can take. If you are below age 35 years & your yearly income is minimum Rs. 25 lakhs and you are in fittest of your health, you can enjoy insurance cover of 5 crore also. Higher income justifies proposer's demand for higher insurance cover.