Hi Folks,
I am looking for advice on choosing the provider for Term Life Insurance
I am 35 and am the sole bread earner of the family. I own my house and am debt free. I have a reasonable bank balance. I have a Term life insurance policy from LIC for 20 years. It started 1.5 yrs back and whose sum assured falls significantly below the 10x of my annual income. I am looking for a second term life insurance policy.
What parameters should i consider to decide on this term life insurance?
LIC’s premiums are significantly higher than other providers. Are there non emotional reasons to go for them again?
Most providers have a better solvency ratio than LIC. That doesn’t seem right considering their dominant position. does it?
If i were to choose annual or periodic payment options, should i continuously monitor the provider’s finance?
what are the pros/cons of switching from one provider to another later?
which of the providers cover “Death due to Terrorist attack” option?
My LIC policy doesn’t state inclusion/exclusion of the “Death due to Terrorist attack” does it mean it is covered?
Thanks,
Maverick