My uncle, 54 years old and his wife 51 years old,both working, need life insurance as they hav one dependent their daughter, she is in 12th standard right now and a home loan worth 30 lakhs, now they want to cover the risk of her education and home loan, they want to go for term plan worth 50 lakhs each, but the premiums of all the companies at this age are quite high! difference between LIC premiums and other insureres is very less..so what kind of strategy should they chalk out for this? if not term plan is there any cost effective solution to this? they want insurance for term of 10 years from now on…their monthly salaries are in range of 70,000 each (total 1,40,000 a month, take home would be less, considering PF, EMI, FD and RD, they havent invested in Equities so far except one ULIP which was miss-sold to them), retirement age is 58 for both…some creative and cost effective solution is badly needed….