1 crore Term Plan for 50 yrs

POSTED BY manishpatel_710@yahoo.com ON December 26, 2013 10:47 pm COMMENTS (9)

Dear Sir/Madam,

I want to buy a Rs. 1 corer TERM PLAN for 50 years term. My age is 25 years, tobacco user : NO.

So, Suggest that,

1) I should buy it before 31ST Dec,2013 or after that (effect on yearly premium)?

2) which is best Term plan available with max. benefits?

3) or Should I buy WHOLE LIFE PLAN/ENDOWMENT PLAN ?(I have seen Sampoorn samridhi, Aajivan Sampati and reliance whole life plan.)

I want to invest 30,000/annum for max guaranteed return and Insurance cover both.

Waiting for your reply…

Thanks,

Manish Patel

9 replies on this article “1 crore Term Plan for 50 yrs”

  1. rahulsharma2617 says:

    Dear Manish, as Ashalanshu mentioned – you might be able to get term cover of 1 crore. Though choose plans wisely and with good reputed companies. My personal suggestion is Bharti AXA Life Insurance. You can even check with their financial adviser and get the best plan as per your needs. Just for your reference check the information below.

    https://www.bharti-axalife.com/

  2. ashalanshu says:

    Dear Manish, please do not hurry up to purchase the plan before 31st Dec. Sky is not going to fall. You can purchase your term plan even after 31st Dec as there ‘ll be no impact on you.

    For 4L Rs. yly income, you may get 1Cr. term cover. Please apply for the same.

    Thanks

    Ashal

    1. manishpatel_710@yahoo.com says:

      ok.
      Thanks for solution, suggestion and time spending.
      your advice is very helpful.

      Thanks & Regards,
      Manish Patel.

  3. ashalanshu says:

    Dear Manish, why are you interested that your insurance policy should return you anything? Do you feel 14L sum assured is enough for your family’s financial security?

    If you are owning a vehicle, ‘ll you insure it for cost value or for a reduced value?

    Thanks

    Ashal

    1. manishpatel_710@yahoo.com says:

      Dear Sir,
      Aggreed.
      So, please suggest that Should I Buy TERM PLAN for 30 years term before 31st dec or after that? Because I am not clear about effect on my Term plan premium after 31st dec.
      Second thing my Annual income is ~4 lakh so, Am I eligible for rs. 1 corer Term plan?I am only earning member of my family.

      Thanks,
      Manish Patel.

  4. ashalanshu says:

    Dear Manish, why do you need term cover till age 75?

    Thanks

    Ashal

    1. manishpatel_710@yahoo.com says:

      Dear Sir,
      I know that I Have no liabilities after 60 years age but my family need financial support after retirement and I believe that 60-75 age period is critical for human life.
      Actually I am going to buy RELIANCE WHOLE LIFE PLAN which will give me Insurance cover up to 85 age and I will get sum assured(14 lakh @ end of 30th year) as a returns on completing 30 years of premium term.
      Details are:
      My current age: 25 years
      Premium term: 30 years
      Policy term: 60 years
      Sum assured: 14 lakh
      As per quotation
      e.g. I will get 33 lakh-80 lakh as a Death benefit (Calculated as SA+Bonus (6%-10%)) if Unfortunate death on 60 age.
      OR
      I will get 46 lakh-1 corer as a Survival benefit on 85 years age.
      Please suggest should I buy this whole life plan or not (before 31st Dec or after that)?
      As I am looking for = Best Insurance cover till 75 years + Best investment return.
      Looking for your quick reply.
      Thanking you.

  5. ashalanshu says:

    Dear Manish, is it age 50 or age 75, that you are looking for your term cover?

    Thanks

    Ashal

    1. manishpatel_710@yahoo.com says:

      Thank you for your reply.
      I want term cover upto 75 years (=50 years term)

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