I want to your expert advice on these two company Term insurance plans. After going to bit of research n analysis, I shortlisted these two Term insurance plans i.e Kotak e-preferred and HDFC Protect.
Kotak :
Advantage : * Step up and Step down option at different phases of Life.
* Decent claim ratio.
* Provision to convert to other Kotak Life insurance plan after 5 yrs.
Lacking : * No Riders. (which doesn’t bothered me much)
* Term only 30 yrs max. My age is 27yrs. (27+30 =57 yrs).
* No coverage for Terrorist attack. (Some say it Marketing Gimmick 😉
HDFC:
Advantage : * Good claim ratio
* Company reputation with better track record.
Lacking : * No riders.
* Term only 30 yrs max.
* No coverage for Terrorist attack
Let me know your thoughts.
-jai