My dad is planning to take a term plan for around 40-50 lakhs.His age is 48 years and his annual income according to his latest ITR is 2.75 lakhs..is he eligible for that cover according to his ITR?
He came across a couple of these online term plans and asked me about them.I was positive and told him that they are as good as any other “offline/LIC” term plan..
I wanted you all to suggest him on how to go about it.He does not have any major health problems as of now.He is ready to take the medical examination if required.
He showed some interest in aviva (premium 16k for 50L) and HDFC(premium 20.5k for 50 L).What do ual suggest?