how much term life insurance can we take maximum?
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I'm turning 25 in few days and want to know the maximum eligible amount of term life insurance i can take.
I already have INR 2 cr coverage at a premium of 25k per year.
But now based on updated salary want to increase my coverage.
I already have INR 2 cr coverage at a premium of 25k per year.
But now based on updated salary want to increase my coverage.
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https://www.desidime.com/discussions/how-much-term-life-insurance-can-we-take-maximum?page=1#post_9191493
But they can't decline for any reason after 3 years of premium payment right as per IRDAI? Pls correct me if I am wrong
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https://www.desidime.com/discussions/how-much-term-life-insurance-can-we-take-maximum?page=1#post_9191332
following
https://www.desidime.com/discussions/how-much-term-life-insurance-can-we-take-maximum?page=1#post_9191599
I think 2 cr is sufficient for next 10 years
https://www.desidime.com/discussions/how-much-term-life-insurance-can-we-take-maximum?page=1#post_9191788
Depends on your income documents...
https://www.desidime.com/discussions/how-much-term-life-insurance-can-we-take-maximum?page=1#post_9191983
Do not keep al your eggs in one basket. So next term plan should be from a diff insurer. Unless you are already married with kids, 2 Cr is adequate for a 25 yr old. You can add 50L after marriage and another 50L for each child.
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2 crore term life insurance cover is typical for ppl with around 10-15 lakh itr so unless your income is now 20-25 Lakh+ in itr I doubt any major provider will approve another term insurance policy with large amount.