POSTED BY November 22, 2013 11:19 pm COMMENTS (3)
ONHi,
I was in confusion that which term plan to choose comparing various riders available.
But today I have came to know from customer care executive that Riders henceforth will not be available with term insurance plan as per new IRDA regulations on 4th Nov. is it true?
sandeep.
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Dear Sandeep, please try to figure out the truth behind the curtain. In what cases the Rider ‘ll provide and in what cases it ‘ll not provide. Let me give you an example –
you are taking a bath in your bathroom, you slipped, brain injury and after few days you die. is it accident or not. If it’s accident, ‘ll your rider provide your family the cover or not?
Thanks
Ashal
Dear Sandeep, why are you interested in RIDERs at all? Why are you not opting plain vanilla policies in place of riders from general insurers.
Thanks
Ashal
Dear Ashal,
I think riders may be helpful in extreme cases like critical illness or disablement. I have one mediclaim policy of 3L. But with riders like critical illness I can get 50-100% of SA of term insurance which can be around 15-30L with average extra premium.
Thanks.
sandeep.