I am a govt. employee aged 48 years 6 months having family consisting of wife (housewife with little income) and a daughter aged 13 years student, earning 7-8 lakhs a year, non smoker wants to have one or two term plan for atleast 15 years with yearly total premium of Rs. 20000-25000/- for a cover of Rs. 50,00,000.
The purpose is to cover life risk only. Very confused whether to go for Govt sector like SBI life, LIC etc. or private sector like Kotak Mahindra, HDFC life, Max etc and which of the policy of which company etc. My job is pensionable, having own small house in small city like to convert it into a small house in bigger city with bank loan etc. in near future. Please suggest which policies will suit me and why? Thanks in anticipation.