Term Insurance

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


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?




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.



  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.



  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 .


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