Hi, I am a 30 years old married female working in public sector bank with salary around 4 lacs PA. I am planning to take a pure online term plan for 50 lacs of Aviva icare or HDFC Click2Protect for 30 years term. Now my query is :
1. If I happen to leave the job after one or two years after taking the term plan, because of personal reasons and carry on as a housewife, what happens to my term policy.? does it get lapsed even if I continue to pay the premium on time.
As I am aware that term plan is given only to earning members, will I be able to continue my policy even after leaving my job. Do I need to inform the insurance company when I leave my job?
Thanks for your responses.