TERM PLAN

POSTED BY SREEKANTH ON July 24, 2012 8:49 pm COMMENTS (2)

Dear Ashal and Team,

i really appreciate the social work you are doing to India about the Financial and Investment support.
Fantastic.

As iam an NRI , Planning to come to India in early August for Vacation. Need to take a Term Plan.

i have the following Life cover.

1. LIC Pension Life cover : 15 Lac : 15 years
2. HDFC Unit Linked youngstar pLUS : 5 lac : 17 Years
3. LIC Others Policy : 3 Lacs
4. New LIC Policy 5 LAC ( lIFE Time ) : plANNIN TO REMOVE THIS TAKEN 6 MONTHS BEFORE.

Need to take either 50 Lac or 1 Crore Liife cover. whether to go to private ones or Government LIC one.

if the Private company is winded up. then what willl be the cover?

Regs
B.Sreekanth

2 replies on this article “TERM PLAN”

  1. BanyanFA says:

    Manish,
    What would be your view on SBI Life’s Smart Shield Product. SBI Life is a midway between Govt & Pvt company. Their quotes are cheaper than LIC but expensive in comparison with online term covers.

  2. You have two agenda here

    1. take a term plan – I think you have high trust in LIC and not pvt companies, in that take a term plan from LIC only , it will cost you good amount , but it will be less than what you are paying right now for small cover

    2. Getting rid of old policies – Most of your policies look junk to me which does not add much value to your financial life . Kindly reconsider them , atleast you can remove those which have small life cover with big premiums .

    Manish

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