term insurance

Pankaj, I am 42+ at present, i have already taken a term insurance plan for 25 lacs from LIC to cover myself upto an age of 60 years, now want to know whether I can take / go for one more term insurance plan fromo some other company (Other than LIC) with a cover upto age of 65 years/70 years. If yes, pl let me know any obligations or drawbacks in taking additional plan at this stage. I know there lot of other options available from other agencies other than LIC at low premium as compared to LIC.

asked Mar 25 '14 at 16:12 by sakiv1089 18681839


There are no obligations/drawback in buying another term plan. Only thing you would need to do is to mention existing policy details in new policy application form.

There are so many online term insurance plans available now which are much cheaper than LIC's so its highly advisable to buy these instead of LIC's offline policy.

answered Mar 27 '14 at 20:39 by Pankaj Batra 5.2k320

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Asked: Mar 25 '14 at 16:12

Seen: 1,289 times

Last updated: Mar 27 '14 at 20:39