Query on Term Plan

POSTED BY Sunny Gandhi ON November 12, 2012 1:33 pm COMMENTS (2)


I came across this website 2 days back and I would first like to congratulate and thank you all for all your inputs.

I am currently 26yrs Male and I am working with a MNC. After reading the blog, I came to know about one thing that Term Insurance is a must and Insurance and Investment are different from each other. I did a research for Term plan and it seems that most of the plans are for a maximum of 30-35 years. Well, being a conservative indiviual, (as I netiher consume alcohol nor tobacco) I feel I would live for atleast 60 years. In that case is this the right age/time to start a term plan?

I also came across Aegon Religare which has the Term plan for 50 years / attaining 75 years of age however, I was not very happy with theit claim settlement ratio. So is this advisable?

I am currently holding a Jeevan Saral Policy with SA 12,50,000 paying annually Rs. 60k and locking 1 Lac in ppf account.

I intend to invest in the SIP too after taking a look at the top funds later.

Your help on my queries is appreciated.

Many thanks

Sunny Gandhi.

2 replies on this article “Query on Term Plan”

  1. Dear Sunny, what are your financial liabilities as on date? How many persons are dependent on your income today? do you have any running loan liability?

    Please answer.



  2. Dominic Prakash says:

    I dont worry on the current claim settlement rate of any insurance company. Just get a term policy with any company and declare every piece of information properly. I have 1.25C of term insurance between Kotak, Aviva and Aegon. In that two of them through online and one through agent.

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