Need Suggestions Regarding Insurance Plans

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Deal Lieutenant
PowerStar

Planning to take Life insurance, term insurance and Health Insurance 

How much premium for year? And Sum assured? 

Experts Drop ur suggestions 

Tag Some senior Dimers

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Finance Mentor Finance Mentor
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Don't rush into taking any insurance without understanding what it is. 

There is no difference between life and term insurance that you have mentioned...... Only different type of life insurance based on your needs.

First research, study n then look around.

Al instances of insurance as well as finance planning are based on emotional needs to a large extent. 

@PowerStar

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Deal Captain Deal Captain
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If you have term and health it's enough. I have LIC online term policy 2 crore, hdfc ergo 15 lakh health policy.

Best for term insurance is max life, health hdfc ergo is good enough, or star if you are based south.

Deal Lieutenant Deal Lieutenant
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decideaim wrote:

If you have term and health it's enough. I have LIC online term policy 2 crore, hdfc ergo 15 lakh health policy.

Best for term insurance is max life, health hdfc ergo is good enough, or star if you are based south.

From South only 

Pls mention yearly premium also 

Deal Captain Deal Captain
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PowerStar wrote:

From South only 

Pls mention yearly premium also 

27K inclusive of GST for 2 crore LIC tech term
Around 23k for 15 lakh hdfc ergo health family floater
Finance Mentor Finance Mentor
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Don't rush into taking any insurance without understanding what it is. 

There is no difference between life and term insurance that you have mentioned...... Only different type of life insurance based on your needs.

First research, study n then look around.

Al instances of insurance as well as finance planning are based on emotional needs to a large extent. 

@PowerStar

Generous Generous
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decideaim wrote:
27K inclusive of GST for 2 crore LIC tech term
Around 23k for 15 lakh hdfc ergo health family floater

Age for 27k? 27k seems too much

Deal Captain Deal Captain
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prem4998 wrote:

Age for 27k? 27k seems too much

What is the premium you'd expect for 2 crores? I'm 30
Generous Generous
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decideaim wrote:
What is the premium you'd expect for 2 crores? I'm 30

For 30, I would prefer 15 to 20k max if covered till 60 to 65. Above 65, u don't really need a cover.

Deal Captain Deal Captain
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prem4998 wrote:

For 30, I would prefer 15 to 20k max if covered till 60 to 65. Above 65, u don't really need a cover.

Which insurer gives such a premium, haven't done much homework, that's why suggested max life instead of LIC to OP
Helpful Helpful
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I think OP needs to understand in detail about purpose, benefit of taking different insurance. If u r doing it just bcoz ur HR is asking for investment proof then that would be bad choice to do window shopping of Insurance. U can ping me if u require any help.
Generous Generous
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decideaim wrote:
Which insurer gives such a premium, haven't done much homework, that's why suggested max life instead of LIC to OP
Max life
Deal Lieutenant Deal Lieutenant
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drjpatwa wrote:
I think OP needs to understand in detail about purpose, benefit of taking different insurance. If u r doing it just bcoz ur HR is asking for investment proof then that would be bad choice to do window shopping of Insurance. U can ping me if u require any help.

No I Don't Know deeply much about details 

Want to take some Policies,so asked here 

Benevolent Benevolent
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PowerStar wrote:

No I Don't Know deeply much about details 

Want to take some Policies,so asked here 

nobody can suggest u just like that
say for health insurance, go through HDFC/National plans and select 1 or 2 plans then comeback with your requirements queries etc
there are many details like your budget, age, family floater or personal, which place u live, pre existing diseases...etc
term plan too needs same exercise, go thru max-life and lic plans then post ur queries here 
Deal Lieutenant Deal Lieutenant
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caks2006407 wrote:
nobody can suggest u just like that
say for health insurance, go through HDFC/National plans and select 1 or 2 plans then comeback with your requirements queries etc
there are many details like your budget, age, family floater or personal, which place u live, pre existing diseases...etc
term plan too needs same exercise, go thru max-life and lic plans then post ur queries here 

Noted 

Thq For suggestions

Commentator Commentator
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10-20 lakh per individual whether it is individual or floater health policy is at least meaningful in 2023. For life, just add current debts, family requirements like medical, education, rent etc and calculate yourself.  

Generous Generous
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LordGane wrote:

10-20 lakh per individual whether it is individual or floater health policy is at least meaningful in 2023. For life, just add current debts, family requirements like medical, education, rent etc and calculate yourself.  

Can you please explain more on this?

Commentator Commentator
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Original wrote:

Can you please explain more on this?

Best case: ₹15-20 lakh + per individual.
Average case: ₹10 lakh per individual
Worst case: ₹5-10 lakh per individual.

My rationale is based on current expenses. An ICU bed in a city like BLR costs ₹45k per day. Oxygen is charged at ₹300 per hour basis. Add other charges per day it would be ₹50k. These are 5 year ago rates! Hosps are another cold blooded entities. They charge all medicines at MRP and won't allow/accept if you buy from outside. Even an unknown fever can cost ₹1.5 lakh for a 5 day stay. A shared room rent is ₹4000 per day minimum and can cost ₹6000 per day with other charges. Patient food is ₹700 per day. A blood transfusion costs ₹9k. Terminal diseases like Cancer, heart ailments, kidney related are increased. As you get insurance every year, you need meaningful coverage to plan treatments. Once hospitalized no insurer like to increase coverage later. An accident while travelling with a family, a disease like Corona if gotten serious won't help if there is no sufficient coverage. A good HIP will let you get treatment from a good hosp.
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