aviva i life term plan best or not?

POSTED BY Manish Dayalal Godhani ON April 9, 2012 6:49 pm COMMENTS (3)

Hi,

I am 41 years old, married with two kids. At present I dont have any term policies. Now I want to take a term policy. i have applied for Rs 50 lakhs risk cover amount..my yearly premium Rs. 9218/- in aviva i life. my medical test is coming now. my decision is right or wrong.

Thanks in advance,

Regards,

manish godhani

3 replies on this article “aviva i life term plan best or not?”

  1. Ramesh says:

    As per your age criteria the premium may be increased but it is depend on the underwriter.

  2. Abhinav Gulechha says:

    Dear Manish Ji

    Congratulations for taking the right decision on buying insurance through term plan, though you should have taken this decision much early.

    Hope you have adequately disclosed any pre-existing diseases and other insurance cover (e.g. LIC etc.) in proposal form.

    I have one question. How have you arrived at Rs. 50 lacs? Is this adequate considering your liabilities and funding for your goals like kids education, marriage etc. in case you are not there? Please revisit the same and if necessary, buy another rs. 50 lacs term plan from another reputed company (e.g. HDFC Click2Protect) this will also help you diversify your risk exposure.

  3. Dear Manish, better late than never. Based upon your current health condition, Insurer (Aviva in this case) may increase your prem. so please be ready for that.

    Thanks

    Ashal

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