Term policy suggestions

218°
Deal Cadet
jaggu123

please suggest a best term policy for my mother(43) and father(46) non smoker.. includes accidental benifit..

where to take health check up and charges for that..

is critical illness option is necessary? and what us the use of this?

what documents are needed? persons should be educated? (My parents are uneducated)

Most of the term policies are only for graduated, any option for uneducated peoples?

please need complete suggestions from experienced people.. very new phase for me to choose..

please help.. thanks in advance

@Roushh

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Deal Cadet Deal Cadet
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MaX Life insurance

https://cdn0.desidime.com/attachments/photos/594484/original/Screenshot_2019-11-11-03-13-27-079_com.android.chrome.png?1573422254

Pro Critic Pro Critic
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Read this…

How to choose a term life insurance provider in 30 minutes!
https://freefincal.com/how-to-choose-a-term-lif...

And also this…
https://www.basunivesh.com/2018/02/20/top-5-bes...

That being said, there is no such thing as best term policy. No term policy works for everyone. All insurance companies are equally good or bad.

Go with any one of the common/popular ones, if you are comfortable with their premium, and customer service throughout the medical process, policy issuing etc.

Also, I think there’s always the 30 day free look period. You can cancel the policy in 30 days if you like.

Deal Lieutenant Deal Lieutenant
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Should we buy policy from Policy bazaar, coverfox etc.?
If yes, then which website is better?

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Benevolent Benevolent
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First determine what is the amount of cover that your would like to take. Then break it up in 3 to 4 equal parts. Then make an analysis of the available insurers and opt for different insurers for each part.
The bank which is your primary bank may give you a better deal than other online or offline options. So explore that option also.

Blogger Blogger
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buy offiline

Deal Cadet Deal Cadet
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Why not online policy.

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Deal Subedar Deal Subedar
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you can look for icici/max life
dont go for lic

Deal Cadet Deal Cadet
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Max need to have person graduation. . So we have excluded..

Is icici needed graduation, any pay slips etc?

https://cdn0.desidime.com/attachments/photos/594587/original/Screenshot_2019-11-11-03-13-27-079_com.android.chrome.png?1573489718

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Deal Subedar Deal Subedar
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First decide that both mother and father need term plan?

Deal Subedar Deal Subedar
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LIC CSR is around 98% it means they are giving claim to endowment policies we can’t figure it out whether it is for endowment or term plan

Deal Subedar Deal Subedar
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For any insurance plan term or otherwise, there are few basic points:
1.Non earning members need not be covered bcos the coverage is required to ensure well being of the dependents in case of demise of earning member.
2. Insurance products are to be chosen for the customer’s need. Not for the Agents. Always take agents advise with a pinch of salt. J
Also just bcos one has purchased a policy through an agent dosent mean agent is obligated to unconditionally serve him entire term and to the customers demands better than online self purchases.
3. Online term plans are cheaper not just because there is no agent visiting your home, but also because one who can purchase the policy himself/herself is assumed to be better knowledgeable and can take better care of his own health – thus reducing his risk profile.
4.Income proof is asked but not always because the insurer needs to know that there is an insurable interest to continue the policy and that there is no foul play involved. All insurers policy proposal form is different and there is no rule for educational qualification by IRDA.
5. Just because your pseudo expert friend or uncle/aunt says LIC is oldest and their claim settlement ratio is better, so they are better. Bcos LIC is oldest and they have millions of small SAs maturing everyday(₹1000-₹10000) their claim settlement will be better anyday than private insurers who entered late. Personally I do not recommend LIC because of their very high premium factor and mass misselling by agents. It is foolish to assume LIC will honour a materially dishonourable policy when a private insurer will not.
6. Always be truthful in declaring all facts and never hide any facts, additional risk factors etc. in proposal form. If you did so, then you are throwing your premium money in waste bins.
7. Lastly, this is not a proper forum to find all facts for choosing a term policy. Do your own research. There are many online selling platform and their service, explanation, guidance in choosing a policy is highly professional. Whatever your doubts and queries they are there to help for no extra charges.

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