Hi,
I have been looking for child plan for my 1 year old kid and while searching I found the article on JagoInverstor about Term Plan+PPF vs child plan. It was an eye opener and the same moment I decided to make my LIC policies paid up and go by this article.
I have 6 such policies.. that gives me a cover of 13 Lac on a premium of 72K in total yearly. There are policies of 2Lac and 1 Lac that are 2.5 years old, one half yearly premium is remaining and rest of the policies are more than 3 years. What I am thinking is, make all the policies as paid up which are more than 3 years immediately. I am not planning to surrender them and wait till maturity to get whatever I get in return.
(1) What is your thought? The two polices which are 2.5 years have one half yearly premium remaining which is 8200 in October. I am thinking of paying that premium and make it paid up. Just let it go and then wait till maturity as all of other policies.
(2)Suggestion? As per the article, Term Plan+PPF vs child plan, which I liked and going that way, I am in talks with PolicyBazaar and EasyPolicy about the term plan. While policybazaar is recommending Aviva and easypolicy is Aegon’s iTerm. I am a bit confused in this. I am looking for 50L plan (may be divided in 25+25 for two plans of different companies) with Accidental rider and Critical illness. IndiaFirst’s Anytime plan also seems good.
(3) Which one/two do you suggest based on claim settlement etc?
(4) Is taking term plan with help of policybazaar/easypoilcy representative is fine or I should just take from the company’s site itself?
Thanks,
Nitin