Sir,
1)Which is better to choose among life insurance among following?
Term,endowment,whole life Insurance?
2)wether to go for lic or postal PLI
3)why LIC agents don,t show interest to sell term Insurance?
8 Answers
Hi,
May I know your requirements?
What is your objective for looking at (buying) at life insurance cover??
Life cover with less premium and savings with gauranteed high returns for short period.
Hi,
If your requirement is to get adequate life insurance cover at affordable premium rate then Term insurance plan is sufficient.
Generally, life insurance agents get very low commissions by selling term plans when compared to selling other Traditional plans like Money-back or Endowment.
Money-back or Endowment plans do not offer guaranteed high returns. At best, these type of plans may give returns of around 4 to 6%.
Kindly read :
Thank you for the information
I m having a LIC money back policy with 1lakh sum assurance premium is 6620 per annm.I have payed for 5 years.After 5,10,15 years they will give 20%of sum assured as money back.Shall I continue the policy or shall make it paid up after receiving 20000 money back since I have paid for 5 years?
Hi,
May I know if you are an earning member of your family? Do you have dependents? Have you already bought adequate life cover through a Term insurance plan??
I am the earning member of the family n have dependent parents and sister.I don't have term insurance.
Hi,
If you have dependents, suggest you to buy a Term insurance plan at the earliest with basic life cover.
Once you buy it, you may discontinue the existing money-back policy.
Kindly read :
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