POSTED BY Investor ON April 25, 2012 10:26 am COMMENTS (7)

I am a Practising Dentist ,aged 30 yrs ,married since last 2 years and no kid right now.
Living with parents in surat city.
Currently i own some LIC Traditional policies which totally cover me for somewhat 11.5 lacs and One Birla SLI Dream plan policy for 5 lacs….
I WANT TO BUY A GOOD TERM INSURANCE FOR MY SELF ,SUM INSURED RS.50-60 LACS ONLINE…Can you suggest me?? I shortlisted HDFC Click2protect and ICICI Pru icare.
I WANT TO BUY A Good ACCIDENTAL Policy.. Can you advise me what should be the cover for that? Which one can you suggest me..
Currenlty I own One Lac SI, Reliance healthwise policy for myself and 2.5 lacs coverage of NEW INDIA ASSURANCE CO.LTD Mediclaim for myself.
Need your advise.


7 replies on this article “PLANNING MY INSURANCE NEEDS”

  1. Dear M, may I know, the calculation details of that 50-60L sum assured? How did you reached that figure for yourself? What are your plans for family size in near future & after 8-10 years? Current loan liabilities if any?……………….



  2. LifeInsuranceHelp says:

    Dear Ramesh,

    Thank you for welcoming us. We are glad to be part of this community and are sure that just as we share our thoughts, we will learn from this community too.

    Warm Regards,
    Life Insurance Help
    ICICI Prudential Life Insurance

  3. LifeInsuranceHelp says:

    This is our first post in this forum. We’re happy to join such an active and helpful community. As a member of this community, we will be participating in the discussions pertaining to Life Insurance in terms of the differences between different types of insurance products, and what type of insurance is suitable for what type of individual. Please understand that we only offer suggestions based on your requirements, however choosing a policy most appropriate for you, remains at your discretion.

    @M:Its good to know that you wish to buy a term insurance policy. It is one of the most basic and simplest of insurance plans. There are a few things to consider before you choose a term plan.

    1. Claims performance
    2. Service reputation of the brand
    3. Convenience offered in terms of medical checkups, online sign up/ payments and services

    You may consider ICICI Pru iCare, a term plan from ICICI Prudential Life Insurance which has a healthy claims record as cited in the following news articles and

    To find out more about this product and to see if it suits you, please visit

    Consumers have chosen ICICI Pru iCare as Product of the Year 2012 in the Life Insurance Category based on survey of over 30,000 people by Nielsen.

    Warm Regards,
    Life Insurance Help
    ICICI Prudential Life Insurance

    1. Ramesh says:

      Dear ICICI Pru Team,
      We welcome you to this community. I sincerely hope you people can help us and give guidance. You can participate in any of the new posts as well as many posts which have been started in the past, but your inputs will be well appreciated.


  4. Abhinav Gulechha says:

    Dear Ramesh,

    Need to understand a few points from your reply:

    a) why have you advised staying away from HDFC? (I believe you are taking about their term plan HDFC Click2Protect

    b) “If you have got a decent life cover, there is no need for a separate accident policy”: I beg to disagree with this statement- As pointed out by Bankim, in case of permanent/ total disability, life cover wont pay you. also mediclaim will also reimburse till the time one is hospitalised.


  5. Bankim says:

    I think HDFC Click2 Protect,ICICI Pru and Aviva are good options.HDFC is the second best after LIC in terms of settlement percentage.That’s the reason I have taken LIC’s Amulya Jeevan-I and planning to take any one of the HDFC,ICICI or Aviva in near future.
    Personal Accidental(PA) Policy is a desirable coverage when we consider a situation where the insured becomes permanently/temporarily disabled.I have taken PA policy of Oriental Insurance company(Rs2000+taxes p.a. for a coverage of 20Lakh).

  6. Ramesh says:

    HDFC Life’s plan is a new entrant, and from what I have read and seen, it does not pay for the medical test cost.

    ICICI, Aviva and Religare have been in the market for quite longer period, and the experiences with these companies have been good. In my opinion, choose any of these 3 companies (instead of HDFC). Also, check how much Cover you actually need. For a practising doctor, you probably should have around 1 crore of cover atleast, if not more.

    You need to add your liabilities to the actual sum (if you have any) plus plan for a little more.

    You health insurance seems to be adequate.

    What is an accidental policy? If you have got a decent life cover, there is no need for a separate accident policy. Rider is a different thing.

    Make sure you have a Professional Indemnity Cover.


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