Term Insurance

moobo 1
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Thanks Pankaj for your response.

with respect to my current status, mentioned in question Portfolio Makeover Required, Pl guide me on Term Insurance.

Term Insurance of 1 cr - ICICI Pru iCare(19k), HDFC(13k), LIC Amulya Jeevan(36k).

  1. Is HDFC good.
  2. Any claim report of 2011-12.
  3. As LIC seems best, Is any low premium cover from LIC in place.
  4. Should I go for 2 cover from diff company instead of one.

Thanks

hdfc-click2protect amulya-jeevan icici-icare lic-policy term-insurance life-insurance
1 Answers
  1. As per above 2010-11 IRDA report, HDFC is good company in claim settlement (among best in private companies).
  2. As of now only 2010-11 data is available in IRDA annual report. You may download relevant portion from report from this page: IRDA Life insurance claim settlement ratio 2010-11
  3. There is news of LIC launching online cheaper term plan since long, but no product has been announced yet.
  4. You may get insurance from two different companies. There is as such no advantage of choosing this path. If you declare everything correctly, no company should be able to decline claim. If you want to get from two companies, LIC and HDFC would be good choice.
Pankaj Batra5212
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