Pure Term Plan

POSTED BY Avanti ON October 31, 2011 10:27 pm COMMENTS (6)

I am Avanti n my age is 26 and my husband’s age is 29. We both are working in a MNC.
Till today we have ULIP, Money back Policy but we don’t have Pure Term Plan. We both don’t have any health problems. My husband wants to take the term plan for next 30 yrs. with life cover of 50 Lacks, and I want d term plan for next 30 yrs, with life cover 40 Lacks. Plz can u suggest us good Term Plan.

6 replies on this article “Pure Term Plan”

  1. DP says:

    Claim settlement ratio example- An insurer has 60% claim settlement ratio which means that insurer settles 60 out of 100 claims. It is most of the time different in terms of number of claims and amount of claim. For example-An insurer received claim of Rs. 50 Crore and paid 40 Crore. It means claim settlement ratio in terms of amount is 80%.

    Repudiation Ratio is opposite to settlement i.e. rejection ratio.

    I really hope i was make things a little clear…



    1. Avanti says:

      Thanks Again,
      Now we clearly understand Claim settlement and repudiation ratio. It will helpful for us.

  2. Avanti says:

    Thanks DP,

    for information.
    Plz can u tell me what is Claim settlement and repudiation ratio?


  3. DP says:

    Hi Avanti, as per me, kindly look into two aspects while taking a term plan:

    1. Base Coverage versus cost.
    2. Claim settlement and repudiation ratio.

    I would suggest you can go ahead with Kotak/Aviva.

    They provide lower costs especially for non-tobacco users.



    1. Avanti says:

      Thanks kalyan,

      All links are useful for study.

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