Term Insurance

POSTED BY Balakrishna ON September 7, 2011 9:49 am COMMENTS (4)

Hi,

I am 29years old and recenlty married. We both are working. I am having a home loan of 19 lakhs and planning to take a car loan also. Please advice me some term insurance companies and the amount I should be taking. Also please let me know if I should take insurance for my wife also?

Thanks,

Bala

 

4 replies on this article “Term Insurance”

  1. Dear Bhumesh Pawar, please check the names of the plans suggested by you. All are group policies & we are discussing here individual policies. there is more to it, the policies suggested by you are not term plans. Please check.

    Thanks

    Ashal

  2. Dominic Prakash says:

    I second Manish and I request you to follow the same company order (Kotak , Aviva or ICICI for online term plan)

  3. ashal jauhari says:

    Dear Balkrishna, From your query it seems – as of now there is no kid in the family. Based upon this assumption, your term cover should be at least 10 times of your annual income + loan liabilities. Say your annual income is 5L Rs. in that case, 10 time of 5L = 50L Rs. + home loan = 50+19 = 70L Rs.

    If your wife is a joint property owner as well as co-borrower in the house property, She should also have a term cover.

    Thanks

    Ashal

  4. Balakrishna

    You can go with Kotak , Aviva or ICICI for online term plan , you can also take it from LIC if you want ..

    Now you should go for your wife insurance only if you are financially dependent on her income .

    Manish

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today