Hi,

Recently i have bought a Term Insurance online from Aviva. The Product is Aviva iLife.

I am 30 years, Single, Non-tobacco user. I went for a term insurance for 35 years for Sum Assured of 1Crore (this is about 6 times my Annual Salary). The difference in premium for 30 and 35 years was just Rs.100/-, therefore i went for 35 years.

I am waiting to undergo my medical tests. May be i am a bit under-insured, but i just went with this amount to start and just take ‘action’. Also as of now i don’t have any dependents and not much debt.

Now my questions are:

1. After marriage if i want to take more cover, is it suggested to go with Aviva only? Do they give any preference in discounts etc to existing customers or is it just like any other fresh policy?

2. As part of iLife Term Insurance, i also took Aviva Health Secure which covers 12 critical illnesses. The annual premium for this product came to around Rs.3100/- and it has tax deduction also. It looked like a reasonable product and went with this? Any comments on this or other options available in this space?

3. In future if i want can i just opt out of Health Secure? I think it should be possible as they are 2 different policies.