Term Insurance - Should I go for a 2nd term insurance?
I have an existing pure term insurance worth 1 CR. I feel I am under insured and want to go for another pure term insurance worth Rs 1 CR. How should I decide if I should go ahead with this?
On a lighter note, Nobody will care if u leave 2cr or 1cr if u r a dead body.
If u r married and have kids then go for 10x ur CTC or enjoy ur life.
1cr TI is fine.
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No better resource: https://joinditto.in/term-insurance/cover-calculator/
Kindly check with a consultant at Ditto. They would share a proper additional term plan considering the Ongoing EMIs, and inflation for the overall tenure.
UprightLocal
Stealth
9 months ago
You shouldn’t think twice if your family’s current lifestyle + the kind of cushion you’d want your family to have is not achievable with 1Cr
Also, starting early gives you a big advantage on lower premium all throughout. In the long run would be much better than thinking about it later
Index funds are for you if you reach old age
Term insurance is for your dependents if you die tomorrow
Op already has 1 term insurance. I would rather use that money to invest in market. I just proposed the least risky fund
Celsius_Fahrenheit
Stealth
9 months ago
If you have a house loan, take the term insurance at least equal to your loan amount.
In the case of untimely passing, your dependents should be secured.
I have a 1.5Cr TI. I feel it should at least br 3Cr. I don't have any loans. But 3 Cr would make me psychologically comfortable. That's my number. You have to decide yours.
You said you feel underinsured and again asking whether you should buy or not. You already answered your question. What exactly is your question now?
SebastianFettel
Stealth
9 months ago
Contact ditto insurance
