POSTED BY July 12, 2014 8:22 am NO COMMENTSON
I wanted opt for new term insurance plan. I already have one term insurance (Which was taken 4 years back), but I wanted to discontinue that plan as sum assured with that plan may not be sufficient for my family say after 10 years when we factor inflation.
Is there any Term insurance plan available which factors inflation? What I meant “Is there any insurance company which offer plans where the cover increases by 5-10% every year or is indexed to inflation.”.
If there is any such plan, I don’t get this problem of discontinuing current plan and taking new plan in future. Please let me know your suggestions