What needs to consider while buying term insurance?

suren 41
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Hello sir I have following questions regarding term insurance. Please give your suggestions

  1. How much should i insured myself.
  2. which one is better to go with online or offline? i searched and ask people they said that go with offline. but online is cheaper.
  3. should i go with LIC as it has good reputation. drawback - it is expensive and others are much cheaper than LIC.
  4. Any another suggestion which I should consider while buying term insurance
protection-plan term-insurance lic life-insurance
1 Answers

Ideally you should get atleast insurance with sum assured 10 times yearly salary + all pending liabilities (personal/home loan etc).

Its better to get online policy as premium amount is much lesser because of no involvement of middle man (agents) and commissions.

LIC has best claim settlement ratio as of now. If you can wait for sometime, LIC is also coming up with its online term insurance which would be cheaper than current plans. If you want to buy now you may choose among HDFC Click2Protect or ICICI iCare policies.

For other details, I would suggest you to read following pages as well:
Insurance-Term,Health and Accident
Regarding Financial Planning/review of profile

Pankaj Batra5212
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