1) With annual renewable term insurance, the policy holder pays a low premium at first, which increases annually as he or she gets older. Is this correct? Will the premium increases as the age increases for a policy holder?
2) Will the term plans cover all kinds of deaths? (accidents/diseases/natural/natural-disasters/suicides)?
3) What is the Effective date of the term plans?
4) will the termp plans only covers death? will they cover anything leads to survial but loss of employment?
5) Will the term plans allow you to renew after the policy has elapsed its period?
6) What is type of premiums for term plans?is it a constant premium or increasing premium amounts? which is better?
7) which category does this term plan falls under?
* Level Term
* Increasing and Decreasing Term
* Renewable Term
* Convertible Term
* Group Term
what does these mean? which is better?
8) is there a group term plan for family?
9) Both the parents are working. Can the kid be put as dependent on both the parents?
10) if the policy holder expires, and the policy holder’s wife is working … can she get the insurance money?
11) if the policy holder expires, and the policy holder’s wife is working … can she claim the insurance money for the dependent daughter?
12) if the dependent has enough resources to support her already…can she claim the insurance?
13) Can both the parents take the policy for the same dependent?
14) what the eligibility criteria for the dependents to claim after the expiry of the policy holder?
15) If the dependent has other sources of income (regular),can she get the insurance money?
16) What is the process of claiming?
17) What documents we need to submit during the claiming?
18) Can a person take multiple term plans from the same company or different? Will all the dependents get the insurance money from all the policies (ULIP/Termplans)?