POSTED BY July 15, 2013 5:35 pm ONE COMMENTON
I have read the threads on this topic and found it informative.
I had a query though, I plan to take 1cr life insurance and plan to split it like this,
50L – 30 yrs – Bharati Axa
50L – 20 yrs – Aegon Religare (with waiver of premium rider)
I am doing this to ensure that I can have good coverage till I can work well and save funds. Later while moving towards retirement when I might not need too much coverage, I will reduce stop paying AEGON & just keep Bharathi.
The other reason is if LIC Online Term plan comes with good premium options, I can cancel one of them and switch to LIC, that way I have the flexibility as well.
Is this a good idea to split?