I have taken out HDFC click2protect Life Insurance of Rs.1.5 Cr cover
I already had LIC Jeevan Saral
Cover
250 Times the Monthly Premium + Return of Premiums (excluding Extra/Rider Prem. & First Year Prem.) + The Loyalty Additions (if any)
Intial cover – Rs. 42.50 lakhs (excluding rider)
Rider
Accidental cover – Rs. 42.50 lakhs (rider)
Therefore initial cover comes to Rs.42.50 lakhs (with an additional rider of Accidental cover of 42.50 lakhs). The initial Insurance increases every year as I pay yearly premium + expected loyalty.
In the Insurance form I had mentioned Rs.42.50 lakhs as cover. Is this correct ? Do I need to include riders ? or anything else ?
Please advice?