My name is Kunal. I am from Gurgaon, 23 years old, my income is 10k per month.
I want to buy a term insurance of 1 crore for myself. I have following questions:
- I heard somewhere that one can buy insurance upto 20 times his yearly income which means that one can only take 1 crore cover if he have 5 lac yearly income. Is this really a case?
- Should I buy 1 crore cover from single company or 50-50 lacs from two different insurers?
- Is there any policy available which provides critical illness rider with term plan? If yes, will premium amount will still remain constant till the maturity?
I also want to buy a good health insurance for myself, I don’t have much knowledge on this..
- I have “Employee State Insurance” cover with my company but I don’t have any idea how good it is and what is covered under it and what will happen with this cover if I switch my job. Can’t find any post on this either. Any help on this? Is this insurance enough or should I buy another?
- I read a post where ‘Nagrik Suraksha Insurance’ was mentioned as a awesome and hidden health insurance plan. According to my understanding, it only covers accidents. Is it true? If yes, isn’t it a personal accident insurance and not health insurance or both of them are same things?
- How much cover and which policy is best for me?