Hi all…
For term insurance, I got a quote from agent as below.
Age : 30 years
Term : 35years
Insurance Coverage : 50 lakhs
Premium : 19,400 yearly (19,400 X 35 = 6,79,000)
Single Payment : 2,81,850 (One Time Payment)
What is ur views on choosing single payment or yearly premium?
In case something happened to X person and term insurance is claimed, Do we need to pay the yearly premium after claim for the remaining years?
Generally until what age we should be insured say 55? 60? 65?