Would like to have your suggestion on a term insurance decision. I currently have 2 term policies with HDFC. And, with the new changes in my life, I think i need to enhance my cover. So shopping for a term product. Because i already have 2 term policies with hdfc, is it still fine to take out a policy from them again? My concern is that hdfc being a private player, what if they go out of business in 10, 20 or 30 years before my policy ends? Is it risky to put all term insurances in one basket?
Or should i better opt for LIC’s term insurance? Because LIC is in the industry for decades and i believe that is a good indicator for future stability. The price quote shown by LIC is slightly more than what HDFC quoted though, but not by big margin.
Choosing another insurer also will diversify my term insurances. Kindly suggest.