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POSTED BY ON December 15, 2010 6:40 pm COMMENTS (3)
Hi,
I am looking for a plain term insurance plan with disability rider. I checked with LIC, Tata AIG, Bajaj Allianz. Only Bajaj is providing disability rider with term insurance (New risk care II). But then its premium is on bit higher side. Is there any better strategy to cover disability?
-Amit
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Hi amit,
Best bet is Personal accident policy. It covers death due to accident, Total disability, partial disability and temporaray disability.
Take a pure term policy along with Personal accident policy.It will complement each other.Premium is also low.
For eg., For a person aged 30, for a coverage of Rs.10 lakh the premium is around Rs.1000.
Total coverage depends on your salary.
I checked Tata AIG “Accident Guard” policy. Premium for 1) term assurance policy + Accident cover policy and 2) term assurance policy + disability rider are roughly same (+/- 500 Rs). So premium angle goes out of consideration. After that, in terms of coverage, which would be a better solution?
-Amit
Hi amit,
You can consider accident policies by Health Insurers which cover Disabilities to a great extent.Consider Apollo Munich,Tata AIG.
Also check out with Kotak Life or ICICI Prudential whose premium rates for the term are the
cheapest and they have term riders also.