query regarding life insurance online term plan

POSTED BY Pranay Parulkar ON June 25, 2012 1:34 pm COMMENTS (10)

i wan to purchase a life insurance online term policy for my father , for sum insured of about 40-60 lac his age is 51 and his anual income is 4 lakhs. I liked Aegon Religare online term plan but I am worried about its low claim settelment ratio. please suggest me weather I should go for it or should look for some other. Please suggest other aswell.

10 replies on this article “query regarding life insurance online term plan”

  1. Pranay Parulkar says:

    sir our family is a small family compromising of only three members , me , my father and my mother and only my father is earning hand as of now as I am a student age 21 and my mother is a housewife. my father believes that every individual should have a mediclaim and life insurance so his family members does not come under pressure in case of an unfortunate event. so he told me to look for a good life insurance policy for him. all three of us have mediclaim of abut 1.5 lakh each and 3 lac different mediclaim in form of family flotter. plus very recently we buyed a life insurance policy for my mother from sbi life when we were in sbi bank branch for our kcc formality. please suggest which is a better plan for us. our family anuual income is about 6 lakh annum.

    1. Dear Pranay, what are the assets & investments of your family as on date?

      Thanks

      Ashal

      1. Pranay Parulkar says:

        our house, couple of parantle property, mothers parantle property in form of agriculture land,one car, one two wheller. and fix deposite.

        1. Pranay Parulkar says:

          plus fathers gpf.

          1. Dear Pranay, after knowing all the assets & investments details – in my opinion, your father does not need a term plan. If you people still want to go ahead. Well your choice, all that I can say.

            Thanks

            Ashal

  2. Dear Pranay, is it you who is purchasing the term plan or your father ‘ll purchase & you are merely searching for him? May I know the exact requirement for him?

    Thanks

    Ashal

    1. Pranay Parulkar says:

      sir, I am only searching for him, my father would buy it and will be the owner.

      1. Dear Pranay, are financial liabilities still open for your father at this stage of life? Please confirm.

        Thanks

        Ashal

        1. Pranay Parulkar says:

          no sir, there are no financial liabilities attached with him. we are financially sound.

          1. Dear Pranay, if there is no financial loss involved, why does your father want to insurer himself for a term plan at his age of 50+ & the fact that prem. ‘ll be on the higher side.

            Thanks

            Ashal

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