Term Insurance – Deciding Factors ?

POSTED BY Yogi ON February 19, 2013 1:55 pm COMMENTS (2)

Dear All,

 

Requirements:

Term Insurance for 30+ YRS with SA: 50L to 75L

I have been studying various term insurances (KOTAK, SBI- Life Shield, LIC -anmol, amulya) also I have been reading about Claim settlement ratio etc. Now, as there are so many varieties in market, I am unable to conclude on any single policy.

 

Can you please let me know what shall be deciding factors in selecting a term insurance?

 

Regards,

 

Yogi

2 replies on this article “Term Insurance – Deciding Factors ?”

  1. Dear Yogi, what’s your current age? Income? Smoking & drinking habits? Health status? Family history? Job profile????????

    Please answer.

    Thanks

    Ashal

  2. 1. be sure on the sum assured. It should cover all expenses and all major life events for dependents

    2. honesty while filling form

    3. Medical check-up by insurer before taking policy is a good idea

    4. ultimately choosing insurer you are comfortable with. Settlement ratio can be used for arguing either way. Personal comfort with insurer is important as insurance is taken for peace of mind

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