Term & Health Insurance – Suggestions

Q & A ForumCategory: InsuranceTerm & Health Insurance – Suggestions
There are several options in term insurance plans i need suggestion from you which will be good. my age 28 and income 6lakh p.a. Is there any plan life insurance and health insurance combo. please suggest.
vssiddhartha.mullapudi@gmail.com replied 8 years ago

my age 28 recently married. I am searching for term plan suitable to me. i am interested to go with HDFC life plan 1cr or 1.5cr limited pay term upto 58 years age and policy coverage upto 78years. please give me suggestion regarding to add 10lakhs for critical illness and monthly income for 10years or to go for basic term plan and health insurances for family.

4 Answers
Sreekanth Staff answered 8 years ago
Hi, You can buy a Basic life cover through a term plan from any Insurer of your choice. Also, suggest you to buy a stand-alone Mediclaim policy from Non-life insurer as per your requirements. "  As per the recent amendment to Section 45 of the Insurance Act, If your policy is 3 years old, no matter what happens, the life insurance company will not be able to deny the claims. So, your life insurance company has only 3 years in hand to reject the policy based on any mis-representation or mis-statement. Once 3 policy years are completed then the life insurance company has to settle the claims and can not reject them." Related articles :  
vssiddhartha.mullapudi@gmail.com replied 8 years ago

sir, present my income is 6lac p.a to that i eligible for 1cr term insurance for 75years age. But after retirement my income would be lesser. is there any condition that income should higher at claim time.

Sreekanth Staff replied 8 years ago

Hi,
No, generally there wont be any condition like that (unless it is clearly stated in the Policy document).

vssiddhartha.mullapudi@gmail.com replied 8 years ago

sir, for my yearly income 6lac HDFC life their are saying 1.5cr eligible please suggest whether to go for 1cr(15191rs) or 1.5cr(20615rs) for limited period pay upto my 58years age

vssiddhartha.mullapudi@gmail.com replied 8 years ago

sir please suggest limited pay or regular pay best.

Sreekanth Staff replied 8 years ago

Hi..There is no best or worst here..it depends on your personal choice/convenience.. If you are ok to bear higher premium for Limited pay and pay all the premiums when you are young and earning well, you can opt for Limited pay.

Sreekanth Staff replied 8 years ago

You may kindly use the calculator available in this article @ https://freefincal.com/insurance-calculator-for-the-young/

Vijaydas answered 8 years ago
Sorry I don't know about this.
Sreekanth Staff answered 8 years ago
Hi, You may kindly consider buying a Basic life cover plan and a stand-alone Health insurance plan. Related article : Top Up Health Insurance Plans – Super Top Up Health Insurance Plans – Details & Benefits  
Sreekanth Staff answered 8 years ago
You may kindly use the calculator available in this article @ https://freefincal.com/insurance-calculator-for-the-young/
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