Having Group Term Life Insurance – still need Individual Term Insurnce?

POSTED BY sunil ON January 13, 2011 3:26 pm ONE COMMENT

I have group term life insurance of worth 30L from my employer as group policy… Do I still need to take individual term life insurance now?

I am software prof, age:32 and will be working for next 10yrs only..( will switch to low pay job later ),   so planning to take the individual term life insurance only after 10yrs ( for 30L SA), .. when premium will be 60% higher than whats now based on age..!

Will it be a right decision?


One reply on this article “Having Group Term Life Insurance – still need Individual Term Insurnce?”

  1. jitendra solanki says:


    Group Insurance policies are effective till you are working with company.The moment you resign you are not entitled for these benefits.
    Moreover, while working with any company you are not sure of what kind of emergencies arise in future which might orce you to leave job early.Thu its always advisable to cover yourself from a standalone policy.
    Howvere, whether you should have 30 lakh or more term cover depends on your Earnings.Do a financial planning and you will come to know what amount of term insurance you should have.

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