Among the various options available, term insurance plans are increasingly favoured for their simplicity, affordability and digital convenience. The major elements of term insurance plans include the following:Complete protection: Term insurance focuses only on life cover, without any savings or investment component. Types of term insurance plans in IndiaHere are the various types of term insurance plans available in India:Level term insurance plan: This is the simplest form, where the sum assured remains constant throughout the policy tenure. Benefits of term insurance for young IndiansHere are a few of the main benefits of getting a term insurance for young Indians:Financial protection at low costYoung professionals can avail Rs. Tax benefits of life insurance plansPremiums paid towards a life insurance plan are eligible for deduction under Section 80C up to a maximum of Rs.