POSTED BY July 4, 2013 4:38 pm ONE COMMENTON
I have following insurance cover
1. 3 LIC policies – Coverage:9.5 L – Premium:37 K
2. Max – Coverage:5 L Premium:10 K
3. Appollo Accidental Policy – Coverage:25L Premium:3 K
4. Birla SL Term Plan Coverage:25L Premium:6 K (30Y)
5. SBI run raksha Coverage:20L (Home Loan amount)
6. IDBI Home insurance (Coverage for IDBI home loan which I didn’t closed after transferring loan from IDBI to SBI)
7. Employer Coverage Coverage:5 L Premium : Nil
I want to increase insurance cover by adding a new term policy so that total insurance should be more than 1 cr. I found that companies like Max, Aviva, Reliagare, Tata AIG’s premium is ~8K and for the same HDFC is charging me ~10k.
I am confused about which one to choose :(… Shall I go with cheap term plans or tested n proven (??) biggies like LIC, HDFC?
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One reply on this article “Term Insurance: Confused”
Go for the cheap one but make sure you provide all the details correctly, there is no tested n proven thing since nobody want to pay anything so if you provide all the correct details claim will be settled without any issue.