Best Term insurance plan – Confusion

POSTED BY Dipesh ON August 27, 2013 8:57 pm COMMENTS (4)

Hi All,

The more i am reading about term insurance provided by various companies in this forum more I am getting confused. Few things I have decided till now are tenure of insurance, sum assured, Thanks to all in forum. But still I am not able to decide on which company should I take from. LIC is no no. CSR and solvency ratio(Since CSR is not explicitly for term plan so wont matter much and solvency is maintained by IRDA so wont be problem). Premiums are differ about 4-5K per annum which is not big amonut if you are to be insured for 1Cr. Since all have almost same terms and conditions it has become difficult to choose.  What I got from this forum is all information should be provided while taking the policy. but still which company to go with in unclear. I need your help and pointers. If someone can provide pointers on which company I can skip that will also be great help 🙂

Thanks,

Dipesh

 

4 replies on this article “Best Term insurance plan – Confusion”

  1. Dear Dipesh, please write your wife’s post marriage name in all documents now onwards.

    thanks

    Ashal

  2. Dipesh says:

    Thanks Ashal, I’ll decide by today which insurer would be best for me. One more query i am having, I have not yet registered my marriage(as having problem with residence proof, will get it registered in october at my hometown) so what should I write in nominee. My wife’s name before marraige ie maiden name or with changed surname. Will it have any impact on policy.

    Thanks,
    Dipesh

  3. Dear Dipesh, please opt online plan from the insurer of your choice. It may be Aviva, Aegon, Bharti, SBI, Kotak, Metlife, HDFC, IPru. Anyone from this list.

    thanks

    Ashal

  4. amar ante says:

    Dear Dipesh,
    Just don’t waste much time in deciding which company. You should not be uninsured for long time wasting lot of time in research. All products are nearly same. Go for plain vanilla policy, select tenure up to retirement, and sum equal to not less than 10 times of annual income. CI and Accidental riders may be avoided and separate comprehensive products for the same may be purchased. Some of the best products/companies are Aviva, Aegon Religare and Bharti-Axa (not in order of any preference). I have personally selected Aviva’s iLife plan.
    Act fast and insure at the earliest.

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