So I'm 23M and i wanna buy life insurance of 2Cr. Would really appreciate it if you guys could answer a few questions!
Buy pure term (zero riders) till age 65. Only exclusion should be suicide in Year 1. Pay annual premiums.
No Return of Premium, no frills, no bells, no extras.
Maximize coverage to what you can afford and what insurers will give you (15x of annual earning).
Don't fall prey to the agents sales spiel.
I bought my regular pay life insurance from Ditto for 2cr at ~2.1k premium p.m. which includes critical illness rider and I will be paying up to 60 yrs
I see an option to pay the complete premium under 5 years instead of paying it monthly/annually till the age of 60. How are these? I saw them on insurancedekho. They were the same max, tata insurance plans.
Bad idea. Time value of money, etc.
Pay annual premiums till age 65.
After that you have no liabilities to provide risk cover for.
I bought the term insurance from Ditto. They gave genuine advice and really helped me in deciding the insured amount and other details. I bought ICICI Prudential with no riders.
I have taken Acko Platinum Life Insurance for 1Cr and it is currently the best in the market. Or you can also get in touch with Ditto Insurance guys as they advice you for free
What you have is health insurance not life insurance. Acko doesn't provide life insurance.
Tata Aia 2 cr 10 yrs per year 60k
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