POSTED BY March 24, 2014 2:34 pm ONE COMMENTON
Need some clarification of term insurance.
I am 30 year old and have LIC jeevan anand policy which offers sum assured 11 lac + bonus of 7 lac and 10 lac of risk/accidental coverage.
My question is, now if i buy term insurance for 30 years with 1cr coverage, if something happens to me that time whoever the nominee they will get the money from both LIC and term insurance company?
Or nominee going to get money from any one? Is it preferable to go for term insurance in my case?
Thanks & Regards,