Term plan with critical illness suggestion?

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Hi,
I am looking for term insurance plan (around 1cr ) with critical illness (20 L).
looking for critical illness top-up because in case of any critical illness , they provide insured lump-sum amount which is, i think, good for initial treatment.

LIC is costly and don’t found any add-on for critical illness.
so if you guys have any good suggestion, i (and my other friends) want to buy it.

29 Comments  |  
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I have an Aegon Religare term plan.
My advice is: Don’t depend too much on Critical Illness rider. Get a health insurance for taking care of the treatment.

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how much LIC quoting for premium for 1 Cr cover?

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ZitOO wrote:

how much LIC quoting for premium for 1 Cr cover?

LIC giving quote of around 25,000 for pure term plan.

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Par_ wrote:

LIC giving quote of around 25,000 for pure term plan.

Looks like u want to buy for a 40+ yr person . As age increase ,premium will increase .

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cm4444 wrote:

I have an Aegon Religare term plan.
My advice is: Don’t depend too much on Critical Illness rider. Get a health insurance for taking care of the treatment.

Critical illness is taken after health insurance or term insurance?

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iamshashikant wrote:

Critical illness is taken after health insurance or term insurance?

In term insurance there can be an additional rider that after getting diagnosed with critical illness, you get 25%/50% of sum assured or that u stop paying your term insurance premium after that critical illness. This rider can be added at additional cost.

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ZitOO wrote:

how much LIC quoting for premium for 1 Cr cover?

I saw for 1 cr term plan cover is RS.10k with rider ( rider cover was RS.10 lakh ) for age 31 years.- if u not smoker and opted for medical test then. Max I saw it comes to 13 k for non smoker

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Important in claim settlement ratio which lic is best but plan is very costly compare to other. I’m also looking for the same. Searching for good company who financially strong. Good claim settlement ratio and premium is competitive. Let me know if you find one

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ICICI Prudential has add-ons for critical illness and accidental death.
I suggest you go for 1 Cr normal term cover + addl 50 L accidental death + critical illness. If you are already ICICI a/c holder, apply through net banking. You will get direct 5% discount on premium rate. Alternatively, break it into two policies from two different insurers.
Also take atleast 10 L medical insurance separately.

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cm4444 wrote:

In term insurance there can be an additional rider that after getting diagnosed with critical illness, you get 25%/50% of sum assured or that u stop paying your term insurance premium after that critical illness. This rider can be added at additional cost.

it must be terminal illness in clause and not critical illness.

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rogerthat wrote:

it must be terminal illness in clause and not critical illness.

Critical illness riders are also there bro

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cm4444 wrote:

Critical illness riders are also there bro

I think critical iillness rider with Term plan is use less. better to take Critical illness separate because that add-on increase premium drastically.
T&C with critical iillness is some confusing.

One possible solution (no same) is buy some super-top-up medical insurance. they are very cheap.

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Par_ wrote:

I think critical iillness rider with Term plan is use less. better to take Critical illness separate because that add-on increase premium drastically.
T&C with critical iillness is some confusing.

One possible solution (no same) is buy some super-top-up medical insurance. they are very cheap.

No separate critical illness available I think so. We have to do addon

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iamshashikant wrote:

No separate critical illness available I think so. We have to do addon

I searched on google are found many Critical Illness plan including ICICIPru , HDFC Ergo, Bajaj etc.

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Par_ wrote:

I searched on google are found many Critical Illness plan including ICICIPru , HDFC Ergo, Bajaj etc.

Really just for that only . I mean for only for critical illness u got!

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Bro, buy immediately cause term plans rates were supposed to increase on 1 April (IRDA notification), but companies have not yet increased the same (as on 05 April)

I bought 100 years terms plan for age 39, non smoker, 1cr sum insured for approx 78k payable for 10 years…..

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Will be Coverfox is good to take Term Plan??

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Par_ wrote:

LIC giving quote of around 25,000 for pure term plan.

Now LIC new term plan premium is around 14-15k for 1cr sum assured. so it is reasonable now.

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Par_ wrote:

Now LIC new term plan premium is around 14-15k for 1cr sum assured. so it is reasonable now.

Age ? How many years ? Policy years ?

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myfungang829 wrote:

Age ? How many years ? Policy years ?

I checked that around before 1 month
age 36
policy term around 25 yr (don’t remember exactly).

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myfungang829 wrote:

Bro, buy immediately cause term plans rates were supposed to increase on 1 April (IRDA notification), but companies have not yet increased the same (as on 05 April)

I bought 100 years terms plan for age 39, non smoker, 1cr sum insured for approx 78k payable for 10 years…..

which company’s insurance you took

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Par_ wrote:

I searched on google are found many Critical Illness plan including ICICIPru , HDFC Ergo, Bajaj etc.

Yes Bajaj alliance have that policy . I just checked.

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myfungang829 wrote:

Bajaj Allianz

Are you sure bajaj will sustain next 41 years?
Have you considered company life itself as any company can fail anytime but SBI/LIC have least chance among all other?

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Dastro wrote:

Are you sure bajaj will sustain next 41 years?
Have you considered company life itself as any company can fail anytime but SBI/LIC have least chance among all other?

True, But when u buying term plan i suggest to go through company clam settlement ratio & profitability since inception..

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