Term Insurance from two companies for 25 lakhs each – Is it a good idea ?

POSTED BY Rajendran T ON May 7, 2013 9:58 am COMMENTS (6)


I am planning to take Term insurance for 50 lakhs, would like to the best option 25 Lakh in SBI eshield + 25 Lakh in icici i protect Term plan

or 50 lakh in any one company term plan(SBI or ICICI)

Can you tell me pros and cons of dividing term insurance with different companies?



6 replies on this article “Term Insurance from two companies for 25 lakhs each – Is it a good idea ?”

  1. Dear Rajendran,

    We understand from your conversation with Ashal that you are clear on how much cover you need. You may consider ICICI Pru iCare which can easily be purchased online and allows you to get a cover of upto Rs. 1 crore without any medical tests. To know more visit http://bit.ly/15pbB0U

    Consumers have chosen ICICI Pru iCare as Product of the Year 2012 in the Life Insurance Category based on survey of over 30,000 people by Nielsen.

    Regarding claims, we are committed to honor all claims quickly and fairly. In a recently published annual report for FY12 by the industry regulator IRDA, ICICI Prudential has a healthy claims acceptance ratio of 96.5%. You can access the report by clicking http://bit.ly/VYOxeL

    Please understand that we only offer suggestions based on your requirements, however choosing a policy most appropriate for you remains at your discretion.

    Warm Regards,
    Life Insurance Help
    ICICI Prudential Life Insurance

  2. Dear Rajendran, how can I recommend if I’m not aware of your actual needs?



  3. Dear Rajendran, nothing is Ideal in this world. I want to know the basis of 50L cover? As far as the question of CSR goes, why SBI & ICICI & not LIC, the big daddy of life insurance. Now do not tell me that Prem. is high in LIC. that I know already. Interestingly, your own case if does not fits into the proper claim, may fall into failed claim.



    1. Rajendran T says:

      so wats your recommendation?

  4. Dear Rajendran, how did you reached to the figure of 50L Rs. cover? Was it any calculation or just your comfort number? Why only SBI & IPru are considered? Any specific reasons?

    Please clarify.



    1. Rajendran T says:

      Hi Ashal,

      ideally we hav to go for 10 times of anual income as term insured. also based on your comfortability.

      i have selected SBI and icici as they are in top 5 company based on claim settlement ratio, refrence : https://www.jagoinvestor.com/2010/12/term-insurance-plans-comparisions-india.html

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