February 20, 2013 12:01 pm
I bought LIC jeevan amulya. Most of my friends advised me, do not buy from LIC as it is expensive. Go for HDFC or other. But I am ok with price. Is this decision right or I should change my plan to other company?
Dear Ronak, your personal comfort matters more than the amount saved by you in prem. So It’s OK if you are comfortable with LIC.
If you can afford the premium and if you have taken the right amt of insurance then don’t worry about it and continue.
Changing term plans is not easy. It depends on your age and health condition (if you have some issue loading will make any policy expensive).
If you want to get a new policy you should inform the new insurer about the old policy. Whether you will get the second policy depends on the sums assured for LiC policy.
There is a upper limit to the insurance anyone can take. Say this is 1 Cr for you and if you have take something close to this then you may not get the second policy when the first is active.
Don’t break you head about this. If you can afford the premium just continue.
Afford here means, you have enough to save for all your goals, pay your expenses, emis if any.
Thank you for your kind reply…
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