Hi,
I have traditional term insurance from SBIlife. I have been paying the premiums for last 5 years. Now I am looking to increase my insurance cover and decided to take online term insurance. I have zeroed down to HDFC life as their claim settlment ratio is good and premium is reasonable for the amount I am looking for.
I am just thinking how it would be if I stop paying the premiums of traditional policy by increasing the cover of online term insurance. I am not able to identify the real pros and cons of this move. I am seeking suggestion from Jago investors and their club.
Thanks & Regards,
Venkat K