should I cancel some of my existing policies to get online term insurance ?

POSTED BY arnab77 ON June 22, 2014 10:19 am COMMENTS (2)

I am 37 years old, ex-smoker and need suggestion on a suitable term insurance plan for sum assured of Rs 1.5 Crore for a term up-to my  attaining of 60 years of age. I have multiple insurance policies including SBI Life Smart Shield which covers my home loan (Rs 34 Lacks).

I observe that few of my current policies (e.g, SBI Life FLEXI SMART, HDFC Life Classic Assure Plan) for which I pay Rs 46K annual premium are not very rewarding. Please advise should I choose to cancel these policies and add a term insurance plan into my portfolio. As of now I have paid only two premiums for these policies.

2 replies on this article “should I cancel some of my existing policies to get online term insurance ?”

  1. Kshitij_Peter says:

    Yes, now is a good time since the market is “up”.

  2. Hemanth Chandra says:

    Please take a term insurance first and then close ur already existing plans….

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