which term insurance policy shall i buy as LIC has discontinued term policies??

hi pankaj,

I am Jay Das my age is 33.I am a software engineer.I want to take a term insurance plan but i have previously taken a jeevan anand policy of lic but i hv stopped it.

And now I want to take a term plan but since Lic has already discontinued his term plan now wht should I do shall I take a term plan from private insurer?? since LIC have highest claim settlement.and again many Private insurer is giving Term Insurance + Personal Accident Policy.And I do dont understand the meaning of term plan with riders etc.

So Now I am confused shall i opt for term plan or not and if yes then which term plan and of which LIC or Which Private insurer shall I choose please guide as soon. as possible.

Thanks..

asked Mar 05 '14 at 22:33 by Asha Patwari 112


First, who informed you that LIC has stopped term insurance plans. You can go for LIC's Amulya Jeevan - II Plan if you only wish to buy from LIC.

Premium from LIC is on much higher side. Online term insurance from other companies are available at even less than half price. I would advise you to look into HDFC and ICICI online term policies. Their claim settlement ratios are also good and among best in private companies.

answered Mar 05 '14 at 23:41 by pankaj 5.2k320

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There are 2 LIC term plans..Anmol Jeevan II and Amulya Jeevan II for different sum assured...As rightly mentioned the premiums are high and these are offline plans
(Apr 13 '14 at 17:03) RitzPru

You can buy max life term plan, They r giving coverage of 1 crore by paying premium of Rs 10200. They have recently launched 3 different term plans. 1st is basic cover in which family of deceased will get lump sum amount for eg: 1 crore at 1 time. 2nd is Monthly income term plan in which they give coverage of 1 crore + monthly income of 40000 for period of next 10 years, along with lumpsum, deceased's family will also get regular income to meet monthly expenses & 3rd is increasing plan in which monthly income will increase by 10% every year keeping inflation in mind. more details available at http://maxlifeinsurance.com

answered Apr 03 '14 at 16:52 by Kunal_1 0

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Asked: Mar 05 '14 at 22:33

Seen: 2,031 times

Last updated: Apr 13 '14 at 17:03