Dear Friends
Am a 30 year old male, single man with no financial liabilities as yet. Am investing 30% of my annual income in large cap equity mutual funds (HDFC 200, Reliance Growth), ELSS (SBI magnum Tax gain) and 30 per cent in debts (PPF). Also I have ICICI ulip plan for Rs.150,000 sum assured which I would like to continue till its maturity in 2018. I have the lousiest LIC endowment and money back policies thanks to the relatives cum LIC agents. Rest after monthly expenditure is parked as emergency fund in savings bank account. I have been denied a term insurance of 75 Lakhs sum assured owing to my medical condition by both SBI and HDFC. My biggest worry is my medical condition where I wish to allocate 10 lakh rupees for my treatment. The time horizon for this requirement is not known.
Now since term insurance is ruled out for me by institutions having satisfactory claim settlement ratio, what options do I have?