I have taken the iterm policy (online) for 1 cr and also planning to take another one from iprotect (online) for 1 cr. Together these premiums are lower for me than if I were to take a 1 cr offline policy from, say, lic.
i’m a bit confused after reading comments on settlement ratios from members. isn’t a term insurance plan a very simple product – in that the sum assured is paid out in case of death ? of course, premium should’ve been paid in time, and correct information provided when taking the policy (for instance, smoker or not).
so why would the company renege on settlement ? looking for real world examples from the members on thier experiences or anecdotes (verified !) please…