7 replies on this article “Suggestion on Term Insurance .”

1. Kaushik G says:

   August 12, 2013 at 11:08 am

   Hi Manish,
   Do you know if it is possible to buy an LIC Term Plan without the help of any agent? I registered on their website for buying a term plan, and I got a call today explaining the details of the plan, but it appears to be from a sales agent and not an LIC employee. Is there no other way for this?

   Reply
   1. SK says:

      August 12, 2013 at 2:21 pm

      LIC as on date does not have an online term-plan.

      In my experince, its very very difficult to avoid agents in LIC. Even if you visit their office(LIC direct), they would suggest you name of some agent to come through. (And in a number of cases, these agents are their spouses/brother-in-law/sister-in-law/friend ;-).

      I ssupect that the powerful agent lobby of LIC is not allowing their online term-paln to be launched.

      Reply
2. ashish9750 says:

   April 14, 2011 at 3:58 pm

   dear mukesh,
   in your planning if u choose only single company policy of lic amulya jeevan, bczz if u choose this policy your premiam will be less and realibility of lic, choose only single policy of lic, bczz every year lic setteled highly claim . but other private company r new in this market and claim is very poor…..ashish gupta

   Reply
3. ashal jauhari says:

   April 5, 2011 at 2:30 pm

   Dear Mukesh, I understand your point of split but my dear friend, please look deep into the cover you are going to purchase. At your age of 25, you are either unmarried right now or may be just married. Due to increase in your family size as well as your liabilities for home loan, car loan etc. your current cover of 22L Rs. ‘ll fall short. There is another angle to this tale – Inflation. Yes Inflation ‘ll also impact your sum assured which seems enough right now to you may not be enough after 5-7 or may be 10 years.

   Think over it.

   Thanks

   Ashal

   Reply
4. Asif says:

   April 5, 2011 at 4:21 am

   Amulya Jeevan from LIC is for 35 years but it requires a minimum SA of 25L.

   Reply
5. Mukesh Agarwal says:

   April 4, 2011 at 1:47 pm

   Dear Ashal Jauhari
   Thanks for your Reply.

   First- I split the policy into two part because, EX-at the time of claim if Kotak rejects the claim due to any reason and LIC settle the claim or vice-versa, then the nominee can reclaim from KOTAK on the basis of LIC claim Settlement.

   Second- Suppose if i am unable to pay the premium in near future for any reason, then i can discontinue one policy and continue the another one.

   Only this is the reason for spliting the policy.

   Mukesh
   Hare Krishna

   Reply
6. ashal jauhari says:

   April 3, 2011 at 9:48 pm

   Dear Mukesh, As you are selecting a policy from LIC & another from Kotak, I’ll ask you to go for a 25L Rs. 30 Y term, single cover either from LIC’s Amulya Jeevan or from Kotak Term Plan. The reason is simple, the single cover of 25L Rs. is higher than what you are going (22L Rs.) with your split cover yet the prem. is cheaper than your split cover.

   Sample this –

   Kotak Preferred Term Plan 25L for 30Y term Prem. including service tax = 3778

   LIC Amulya Jeevan = 6525

   Thanks

   Ashal

   Reply

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