11 replies on this article “Need Suggestion on Buying Term Plan”

1. Ashal Jauhari says:

   January 23, 2013 at 5:17 pm

   Dear Siva, please answer, how did the figure of 50L come & not 40L or 75L?

   Thanks

   Ashal

   Reply
2. Siva says:

   January 23, 2013 at 5:10 pm

   Ashal, Considering the current inflation and the same in next 30 years and the day to day expenses.

   Reply
3. Ashal Jauhari says:

   January 23, 2013 at 5:00 pm

   Dear Siva, how did you reach to the figure of 50L? Any calculation or just your imagination?

   Please sharre.

   Thanks

   Ashal

   Reply
4. Siva says:

   January 23, 2013 at 4:07 pm

   Ashal, I have a figure of 50 Lakhs in my mind. Where the premium from ICICI is 12000 (including riders) and HDFC Life is around 7000

   Reply
5. Ashal Jauhari says:

   January 23, 2013 at 3:25 pm

   Dear Siva, if she is a homemaker, what’s the financial risk involved for your family in her absence? In simple words, where’s the need to purchase a term cover on her life? I’m sorry for my crude words but the matter should be discussed to understand your thought process.

   Thanks

   Ashal

   Reply
   1. Siva says:

      January 23, 2013 at 3:36 pm

      Ashal, What you have said is correct, which i have not thought. Thanks

      Reply
      1. Ashal Jauhari says:

         January 23, 2013 at 3:44 pm

         Dear Siva, now comes the next question – How much is too much?

         I.e. how much sum assured term cover you should purchase?

         Do you have any figure in your mind? If yes please share.

         Thanks

         Ashal

         Reply
6. Ashal Jauhari says:

   January 23, 2013 at 1:04 am

   Dear Siva, what’s the income of your wife? Do your family depends partially upon your wife’s income? Please clarify.

   Thanks

   Ashal

   Reply
   1. Siva says:

      January 23, 2013 at 3:11 pm

      Dear Ashal, My wife is a home-maker and I am the only earner in my family.

      Reply
7. radhevajrakaya@gmail.com says:

   January 22, 2013 at 11:44 pm

   Online or Offline term plan: The latest buzz in term plan industry is the online term plans. You can simply provide the data online and subscribe to your term plan instantly with a lower premium and a higher rate. But the problem here is, most of the term plans do not involve proper procedure to check individual’s health condition and other factors. Due to that it is very risky to subscribe a term plan although the premium is lowest. Your family might be in trouble in future. So it’s better to pay some more premium and subscribe the same term plan through an agent by following every procedure clearly. Companies can have a better and clear record about your insurance to track in future.

   Choose between HDFC and ICICI.

   And I think, HDFC Life Click 2 Protect Plan annual premium Rs. 5,562 and ICICI Prudential iCare annual premium Rs. 6,629 are good because,,,, You should go with the company who has a better Claim settlement Ratio and a good reputation. So that after your death your family do not have to face much trouble to get the money.

   I hope my data is sufficient enough to help you.

   Jai Hind.

   Reply
   1. Siva says:

      January 23, 2013 at 3:13 pm

      Thanks Radhevajrakaya for your information. One factor where you elaborate on the medical checkups is really more valid.

      Reply

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