3 replies on this article “Life Insurance – Odd one out”

1. ashal jauhari says:

   January 12, 2012 at 2:34 am

   Dear Jig, in case you are withdrawing money from that Birla dream plan & at the same time no more prem. ‘ll be there, I’m in doubt that you ‘ll be able to continue your cover. the reason is sooner or later, the charges ‘ll eat away the fund value & the co. ‘ll close your cover once the fund value drops below the 1Y prem. level.

   Please check with LIC office for your paid up/surrender value for the Jeevan Anand.

   Thanks

   Ashal

   Reply
2. ashal jauhari says:

   January 11, 2012 at 12:25 am

   Dear Jig, If you are comfortable with online Term covers, please go with either Aviva’s I-life or Kotak E- preferred Term plan or Aegon Religare I-Term or IPru’s I-care or Metlife.

   The cover should be at least (Remember it’s at least, depending up on your own condition, you may go for higher multiple also say 15 times) 10-12 times of your annual income. if you are running some loans also, add the loan amount into your cover & purchase accordingly.

   Once the term plan is active, surrender both these policies.

   For your age, the 35Y term plan of say 50L Rs. ‘ll cost you not more than 5-7K. Now just imagine where you ‘ll invest the saved prem. amount & how much you ‘ll be able to get it as maturity.

   Thanks

   Ashal

   Reply
   1. Jigs says:

      January 11, 2012 at 12:53 pm

      Hi Ashal,

      I agree with you but wanted to know the minus points of these policies.

      Actually in Birla Sun Life Insurance policy I can enable a partial withdrawal facility and this will keep my policy active and i’ll not have to pay premium. Does this sound good? I am thinking to enable this partial withdrawal facility as I have paid 3 premiums and can enable it now.

      In LIC Jeevan Anand, What will I get if I make it Paid Up/Surrender?

      Thanks,
      Jigs

      Reply

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