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    Thread: Insurance Term Plan

    1. #1
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      Insurance Term Plan

      Can any one suggest good term plan?
      Age 35 years

      How is Anmol Jeevan and Amulya Jeevan from LIC?

      What all key features should be there?

      What should be the policy terms?

      Sum Assured aprox 1 cr

      Note: I am not taking for tax benefit...... only for the life insurance.

      All suggestions welcome

    2. #2

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      Quote Originally Posted by prash2k01 View Post
      Note: I am not taking for tax benefit...... only for the life insurance.

      All suggestions welcome
      I have taken ICICI Pru iCare term plan, premium per year is approx. Rs. 10000/-. It provides coverage of 41 lakhs on death and 82 lakhs on death due to accident.

      Edit- LIC generally requires body tests to be done before any term insurance is accepted by them.
      Last edited by yksharma; 9th Aug 2013 at 14:47.
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    3. #3

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      What hospitalization class and such?

    4. #4
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      Quote Originally Posted by yksharma View Post
      I have taken ICICI Pru iCare term plan, premium per year is approx. Rs. 10000/-. It provides coverage of 41 lakhs on death and 82 lakhs on death due to accident.
      Thanks #yksharma what is policy term?
      above figure looks good to me.....good coverage


      Quote Originally Posted by yksharma View Post
      Edit- LIC generally requires body tests to be done before any term insurance is accepted by them.
      I does not have an issue with LIC.............. can go for any test

      Premium is bit highter side as

      Amulya Jeevan 24Lk cover

      Age : 36
      Policy term
      (in yrs.) : 25
      Payment term
      (in yrs.) : 25
      Yearly : 14,496.00
      Half yearly : 7,248.00
      Single : 1,76,136.00

      And Amulya Jeevan 1 cr cover

      Age : 36
      Policy term
      (in yrs.) : 30
      Payment term
      (in yrs.) : 30
      Yearly : 50,000.00
      Half yearly : 25,500.00
      Single : 6,79,000.00

      Quote Originally Posted by fordfan View Post
      What hospitalization class and such?
      #fordfan I am not sure for term plan it is important, It is for mediclaim policies
      any expert can comment
      Last edited by prash2k01; 9th Aug 2013 at 16:13. Reason: addition

    5. #5

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      Mine is icici. I got it online. I think 50 lacs cover for 10 K premium I think.
      Drive it like you stole it and Detail it like you own it.

    6. #6

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      Quote Originally Posted by prash2k01 View Post
      what is policy term?
      It is 30 years.
      Quote Originally Posted by prash2k01 View Post
      Premium is bit highter side as
      LIC is expensive but its claim approval percentage is higher than other service providers.
      Off topic: To mention a user, please prefix @ instead of #, then only a user will get a notification. Hash is used to tag a group or mods .
      Quote Originally Posted by fordfan View Post
      What hospitalization class and such?
      As far as I know, term plans do not include mediclaim.


      Quote Originally Posted by Supernaut View Post
      Mine is icici. I got it online.
      +1.
      Last edited by yksharma; 9th Aug 2013 at 16:45.
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    7. #7
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      From ICICI

      Option A

      Your Recommended Sum Assured Rs. One Crore Only

      Your Annual Premium Rs. 22,247

      Get additional Accidental Death Benefit of 50 lakhs for just 2,360 extra

      Your recommended Sum assured Rs. 1,00,00,000

      +

      Additional Accident Death Benefit is payable on death due to accident Rs. 50,00,000

      Your annual Premium Rs. 24,607

      Option B

      Your Recommended Sum Assured 50,00,000

      Your Annual Premium Rs. 12,303

      Get additional Accidental Death Benefit of 50 lakhs for just 2,360 extra

      Your recommended Sum assured Rs. 50,00,000

      +

      Additional Accident Death Benefit is payable on death due to accident Rs. 50,00,000

      Your annual Premium Rs. 14,663

      Option B looks good to me? But odes it cover all the key factors?

      - - - Updated - - -
      yksharma Supernaut thanks you

    8. #8

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      Quote Originally Posted by prash2k01 View Post
      But odes it cover all the key factors?
      This policy has just 2 features :
      1. Surviving legal heirs/nominee(s) will get 50 lakhs on death of insurer if cause of death is other than accident.
      2. Surviving legal heirs/nominee(s) will get 1 Crore on death of insurer if cause of death is accident. There are some standard exclusions e.g. suicide.
      2012 Ford Figo 1.4 Titanium, 2006 Bajaj Pulsar 150
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    9. #9
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      Quote Originally Posted by yksharma View Post
      This policy has just 2 features :
      1. Surviving legal heirs/nominee(s) will get 50 lakhs on death of insurer if cause of death is other than accident.
      2. Surviving legal heirs/nominee(s) will get 1 Crore on death of insurer if cause of death is accident. There are some standard exclusions e.g. suicide.
      Thanks yksharma right I was also reading the same
      what else is required ? critical illness cover... is it need with a term plan?

    10. #10

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      Quote Originally Posted by prash2k01 View Post
      critical illness cover... is it need with a term plan?
      Not sure, see if it suits your needs.
      2012 Ford Figo 1.4 Titanium, 2006 Bajaj Pulsar 150
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