I am 33yrs old and planning to buy a term insurance. After going through your blogs I understood that ICICI and Kotak have good term insurance plans. Also LIC is an option, provided I am ready to shell out more on premiums.
My 1st question >>> What term should I choose, 20/25/30yrs, what is better for my age, the shortest of 20yrs or the longest of 30yrs.
My 2nd question >>> What if I die after couple of years of the policy start? Will my family get the benefits? Also if I complete the term of 20yrs or 30yrs (whatever I have chosen), do I get the money back at the maturity or after my death?
My 3rd question >>> What if the company/bank does not exist after 15-20yrs? How do I get my money back?
My questions may sound silly, but please be kind enough to answer my queries.
Regards…. – Ashwin.