Incremental term insurance or increasing term insurance is a variant of term life insurance where the assured sum grows annually at a fixed rate. In the unfortunate event of the policyholder's demise within the policy term, the nominated beneficiaries receive the sum assured. These plans enable you to guarantee that your term life coverage aligns with your expanding financial requirements. Within these term insurance schemes, the coverage amount selected by the policyholder at the initiation of the policy rises annually by a set amount. Nevertheless, the premium rate for the policy may vary or remain constant over the policy's duration. In the context of term insurance featuring an expanding cover, the approved sum assured is contingent upon the policyholder's health at the policy's commencement. These plans are tailored to address the evolving requirements of individuals and address the impact of increasing inflation.