rakesh7
11
Hi Pankaj,
I want to take a term insurance. Currently I am 24 years of age. My Annual salary: 3,75,000.
Suggest me the best term insurance plan. How many years do I need to take it for? Do I need to take any additional rider benefits? If so, which one?
You can buy online term insurance from HDFC or ICICI Prudential. They have good premium rates and past settlement records.
Term insurance should be taken for maximum available term in plan(30 years is common). So you should go for minimum 30 years cover, it would cover you till 54 years of age.
You can get a 40-50 lakh policy now and when you reach around 30 years of age, get another term insurance based upon your income at that time (get minimum 1.5-2 crore). As a person's liabilities should be covered atleast 60 years of age, with a 30 years term getting a term plan at 30 years of age is a good plan.
