How to Select the Best Term Insurance Plan for Yourself?

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During my time at HDFC Life Insurance and ET Money, I would have spoken to a few hundred term insurance policyholders. I got a better idea of their thought process when choosing a term insurance plan, noticed some mistakes they made, questions they asked related to life insurance etc. On basis of what I learnt, this video here details the 6 steps on needs to follow when selecting a term life insurance policy. These steps will ensure you are buying the best term insurance plan for yourself and the life insurance cover you choose is optimum
👉 Video Chapters:
00:00 What is Term Life Insurance
01:14 Benefits of Term Insurance Plans
03:55 How to Calculate Your Life Insurance Cover
08:19 6 Steps When Choosing a Term Insurance Plan
08:28 1. Ideal Life Insurance Coverage
09:01 2. Tenure of Term Insurance Policy
10:50 3. Target Highest Peace-of-Mind
12:16 4. Life Insurance Riders (Critical Illness, Disability & Accident)
14:03 5. Claim Settlement Ratio
14:58 6. Insurance Process & Documentation
16:14 Discount on Term Insurance Plans
16:42 Married Women's Property Act in Life Insurance
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Опубликовано:

29 июн 2024

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Комментарии : 147

@shankarnath 6 дней назад

👉 Schedule a free 30-minute consultation with insurance experts at Ditto: ditto.sh/0bxlo5

@narendrasinghdhami3042 Год назад

We need one for health as well 😊

@arc6676 Год назад

Please cover this too. Not sure how to choose, how the pre-existing health conditions are considered, what happens after age of 60, so many more questions...

@shankarnath Год назад

Done. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-mddk3K3e8mY.html

@anurag7096 Год назад

Very Detailed yet simple to understand. Great job in creating this content. Keep up the good work !!

@shankarnath Год назад

Much appreciated!

@Rajesh.A Год назад

Simple way of teaching, easy to understand for beginners.

@shankarnath Год назад

Glad to hear that 🙌

@kumarhimanshu961 Год назад

Awesome content. Need more on insurance - health , life etc.

@shankarnath Год назад

Thanks

@joethim Год назад

Quite useful 👍, thanks for all your efforts in putting this

@shankarnath Год назад

My pleasure! Glad you found it useful.

@koustuvdutta Год назад

LLA and Mr. Shankar Nath are our go to places for personal finance! Always loved your data rich content and elegant style of presentation. It will be interesting if you compare a standard 1 cr term plan from Hdfc, Max life, Tata AIA and ICICI prulife especially in terms of policy wordings and listed critical illness. Your experience in insurance sector will put a lot of value! Thank you.

@shankarnath Год назад

Thank you!

@bulbulthara4408 Год назад

Needed video for every one. Thanks a lot Sir.

@shankarnath Год назад

Most welcome, glad you found it useful

@krunaldesai2711 Год назад

Nice informative video, Sir.. Fortunately came.to ur video at correct time.. I did have some questions before i am finalizing and signing the contract.. I will surely email with pointers for your valuable advice.. Thank you..

@karthikeyanv463 Год назад

Thanks Shankar. Another gem from you.

@shankarnath Год назад

My pleasure! Happy you found it useful

@saravanaavelpari7713 8 месяцев назад

Never seen such an articulated and clear explanation 👍🏻 happy to have found your channel

@shankarnath 8 месяцев назад

Welcome aboard! Do watch some of the investing videos if you are into it

@saravanaavelpari7713 8 месяцев назад

@@shankarnath Sure, I’m planning to do mutual funds, I see you have some videos on it .

@shankar4005 Год назад

As always, mind-blowing and differentiated content. Shankar, you're a light bearer for my financial journey. I'm at cross roads in confirming my life insurance related queries and your video speaking from your experience, helped validate my understanding. I shall write to you for additional queries I might have. A big thank you.

@shankarnath Год назад

Most welcome. Glad you found it useful!

@carlsagan4411 Год назад

Once again great analysis. Just an add-on, along with the settlement ratio, one should also look for a ratio of the amount of settlement ratio and the number of claims rejected after filing. This is available on the IRDIA report.

@shankarnath Год назад

Thanks for your suggestion

@harsha.ambati Год назад

I have been thinking about how to buy term insurance from past 3 days.. u made my work simplier, thanks sir 🙌🏻🙌🏻🙌🏻🙌🏻

@shankarnath Год назад

Glad this was helpful, Harsha

@user-si7dt5ru2m Год назад

Very well explained !

@shankarnath Год назад

Glad it was helpful! Thanks

@biswajyoti. Год назад

sir learning from u has been a pleasure, with many finance related channels on yt u hv always been honest nd given us indepth insights into various topics. I'm 19 nd gettin correct guidance from u will surely help me in making financial decisions in my near future. Again thnx a lot sir, you're doin a grt job :))

@shankarnath Год назад

So nice of you. Most welcome, Biswajyoti

@leninbabu8310 Год назад

Thanks for the information provided sir.

@shankarnath Год назад

Always welcome

@ankurgoel8769 Год назад

Would be good to see on health insurance

@nitsuryawanshi1487 Год назад

Please make a video on Health insurance and at what age we should but if we have health cover from our organization.

@akhilgupta6673 Год назад

Much needed video

@shankarnath Год назад

Thank you Akhil, glad you found the video useful

@gunasekaran-nw6uj Год назад

Dear Shankar sir, Your video is most informative....Thank u ji..

@shankarnath Год назад

Most welcome

@dsaha7700 Год назад

Shankar Ji, Many thanks, Yes MWP Act is very useful advise.. You always come with unique way is remarkable...

@shankarnath Год назад

Most welcome. Yes, the MWP was new to me aswell but my student intern found this point & I found it quite apt to this topic.

@deepeshkumar100 Год назад

As always great content Shankar! Pls see if you can make a video on Health insurance and standalone critical illness cover.

@shankarnath Год назад

Thx 🙌

@drsteviejasengnsangma8739 Год назад

Excellent information sirji❤ it is much deeper & has broader concepts.

@shankarnath Год назад

Most welcome. Glad you found it useful

@JayeshBPatil Год назад

Sir, Please do video on Health Insurance.

@inigob.s.6990 Год назад

Great work sir 👍 it would be delightful if you come with your own way of analysis and deliverance on health insurance as well 🙂

@shankarnath Год назад

Thx 🙌

@jayanthnanda Год назад

Excellent Shankar ji. ❤ It.

@shankarnath Год назад

Thank you

@harijanu Год назад

Nicely explained sir.

@shankarnath Год назад

Thanks for liking. Glad you liked it

@ArunSharma-qw3df Год назад

Sir kindly make the video on health insurance

@rajeevnair2506 11 месяцев назад

Very informative.

@shankarnath 11 месяцев назад

Glad it was helpful!

@Bourne21 Год назад

Great video. 👍 😊 Kindly make a video on Health Insurance as well. Thanks 🙏🏼

@shankarnath Год назад

Thanks 🙌

@maalik781 Год назад

I am 33 and haven't bought any term insurance nor plan to do it. The reason is the company I work for and the ones I have worked for in the past usually provide coverage of 5-10 times my annual CTC, which is adequate for my family for quite a few years. Also, in the next 10-12 years, hopefully, my total net worth should surpass my desired insurance coverage so I probably won't need insurance after that. As long as I keep working in some corporate for the next 12 years which provides sufficient term insurance coverage, I don't need to purchase it separately. Running my thought process by you to see if you think I'm making a mistake here.

@AnandKumar-rf1ch Год назад

Yes if you have adequate wealth created you don't need term insurance.. but think of this situation that your terminal illness wipes entire your savings. What will be last resort for your family ..just one example

@maalik781 Год назад

@@AnandKumar-rf1ch I agree to an extent. I have started investing in NPS for such cases. It is not enough though for my family to continue living the same lifestyle but it should cover basic necessities. Additionally, I think I can afford to buy health insurance after I no longer work in corporate. The premium would be higher than what I can get now, but I think effectively I will save a lot (think compounding) of the premium amount by buying insurance at the time I retire than I purchase now.

@nabeelyahiya Год назад

Thank you shankar❤

@shankarnath Год назад

My pleasure

@pardhumurali1206 Год назад

Very good information

@shankarnath Год назад

Thanks

@DrThomasPrithvi 7 месяцев назад

Thank you

@shankarnath 7 месяцев назад

Welcome!

@hareeshmv1521 Год назад

Would like know among all the companies you mentioned which company's which product is good for a person of age 32 years for 1 cr sum assured?

@MuthuKumar-fh8mg 11 месяцев назад

Hi sir Icici prudential vs maxlife? Which is better to go. Pls specify one.

@shubhamsachan6419 Год назад

Sir according to u which are the top 3 term life insurance in India??

@anupdsouza Год назад

Very informative video Shankar. I learnt about term insurance pretty late I'd say and bought one just before Covid hit at age 33. Having assessed financial needs I feel that I might need another policy. Couple of questions in this regard. 1. Should one purchase a new policy from the same insurer or different one? 2. Are dependents guaranteed to get the sum assured from all the term policies one might have bought? 3. How should one calculate the rider coverages as different illnesses/disabilities would require different amounts for treatment etc. Once again, thank you for adding value to our financial lives 👍

@sagarmitkari1514 Год назад

same question

@shankarnath Год назад

Thank you Anup. 33 is still a youngish age in our country. HDFC Life's average term insurance age a few years back was 37 :) 1. Generally, the same insurer might not give you a second policy because it increases that company's risk. And if they do, then they'll have stricter underwriting, more document requirements and they might not offer your desired sum assured. So while this is not an answer to buying from same insurer or different -- I think the technical challenges will require you to look at a different one 2. You'll have to check the policy wordings for policy exclusions. It's available on the insurance company's website. 3. I could not find a scientific way of calculating rider coverage but when one gets to it, the applicant will notice there are coverage restrictions on riders. For example, one might want a 50 lakh critical illness cover but the term insurance policy might offer only upto 30 lakhs. In that context, it is better to work backwards i.e. see what is being offered by the life insurance company and then see what number you want. The difference can be gapped by taking the balance cover from a non-life insurance company as they have accident, disability and critical illness covers with them Hope this helps

@anupdsouza Год назад

@@shankarnath thank you Shankar. That sounds like a reasonable approach :)

@arupgupta923 Год назад

Excellent Sir. May I request to add A. Enhancement of sum assured with life stage in the same policy. B. Limited premium plans. Your opinion and views matter. Hence request your thoughts and advice on both above.

@shankarnath Год назад

Hello Arup ji: 1. This is not a rider. This is a standard feature in most life insurance policies. Every term insurance applicant should read the brochure to get an understanding of this along with many other areas like exclusions (suicide clause), claim documentation, process etc. 2. I have never seen much utility in using limited premium plans. Ofcourse, the insurance company and esp. the distributors will push applicants for this because it's more commissions but I've never found the need for it. Bonus - the concept of TROP (term return of premium) is becoming redundant now with the introduction of zero cost term insurance plans.

@Jyyo Год назад

A normal thumbnail today. 🙂 Also here there is a hindsight bias, for eg the premium amounts have soared in the recent past. I bought a plan in 2017 for x amount and today the same plan is 1.3 times of x, (assuming I am of same age) so the cost is going to be much higher 🙂

@bijukurup5841 Год назад

Good video, any chance of also recommending preferred term insurance with so many companies around

@shankarnath Год назад

Thanks

@gunasekaran-nw6uj Год назад

Dear Shankar sir, still I am getting confusion about selecting Term insurance companies now most of the companies having high Settlement ratio, but clear about that how much term amount should select... Can u help me about selecting companies or else can suggest any company please....

@tanmaymohan536 Год назад

Hello sir, There is this pertinent issue I think of, when people describe influence of age in premium of term plan. You also explained how premium will vary for 25 vs 45 years. 1) Shouldn't we consider inflation in buying term insurance, as 1 cr insurance today will become 24 lakhs after 25 years, considering 6% inflation? 2) On similar logic, if we buy term insurance at later age, we also protect our sum assured against inflation. Don't you think, we should not look at only the premium difference but also difference in sum assured in real value terms?

@shankarnath Год назад

Hello 1. The objective of calculating the amount life insurance coverage (which I covered in the first part of the video) takes care of inflation. Please watch that part again and kindly let me know where the confusion is. 2. Again, this is answered in the first part of the video

@siddhantrajsingh6927 Год назад

Sir, in similar script kindly make a video on health insurance.

@shankarnath Год назад

Thanks for your suggestion

@raghav4608 Год назад

Thanks for the elaborate video, Shankar! Very informative and always has something extra to learn. Question regarding accidental death cover, I have a plain vanilla term life insurance (from IndiaFirst) without any addons for accidental death or critical illness. I took it when I was in my early 30s when my income wasn't great, so went with the least possible premium. Doesn't a basic term insurance by default cover accidental death? Or the addon only provides extra coverage? I went through the policy document, but it doesn't state anything explicitly. Please guide me on this. Thanks in advance.

@shankarnath Год назад

Thanks Raghav. The basic coverage in a term plan covers accidental and natural death. There is some condition on suicide and ofcourse, if one dies while committing a crime or stuff like that. It's there in the policy document. With re: your accidental death query - it's extra coverage. So say, base cover is 1 crores and you have a 50 lakh accidental death rider. Then death due to disease = 1 crore claim .. and death due to accident is 1.5 crore claim. I'm sure the policy wording will have it. If not the base policy's wordings then there will be an addendum policy wording that will have it but it will be there. If the website does have the PDF, then ask for it from the insurer's customer service team

@raghav4608 Год назад

@@shankarnath thanks for the detailed reply, will definitely go through the fine print.

@debbie2017 Год назад

Such a simplistic way explanation... Very useful video ...Thanks a lot Sir I have one doubt ..me and my wife both are working ...age 36 and 31. I thought to buy two term ins one for me and another on my wife...is it a good idea or any other facts to consider?

@shankarnath Год назад

Most welcome. Yes, since there are two bread winners - you should look at 2 separate term policies. Many married couples do that and nominate their spouse and/or their children

@debbie2017 Год назад

@@shankarnath Thank you sir 👍

@swaroopraghunath 7 месяцев назад

Amazing video sir. Upon doing further detailed analysis, I found that the critical illness rider is limited to the payment duration only and not the entire cover period. Also it looks like there are some standalone critical Illness covers which offer better protection comprehensive. Please suggest if it is wise to opt for pure term plan with a separate standalone critical Illness cover ?

@shankarnath 7 месяцев назад

Personally, I don't look at critical illness coverage as an extension of term insurance. I look at it from the perspective of health insurance. Let me explain. So say, I have health insurance of 20 lakhs .. which means I am covered for non-critical, accidental and critical illness "hospitalization" of 20 lakhs. Now the critical illness cover offered by term insurance plans is a lumpsum benefit that is offered on the diagnosis of the critical illness. So essentially, this is useful for situations where the critical illness is not hospitalization based but if hospitalization expenses is there, then the health insurance cover is already covering that upto 20 lakhs in my case. Another clue is with re: the marketing of this cover and many insurance companies pitch it as money that can help the policyholder pay for incidental expenses like rent, school fees etc. during the time when the policyholder is in hospital and unable to work. Again, this has to be looked in terms of the financial position of the policyholder i.e. if he/she has enough surplus then the critical illness lumpsum cover might not be needed

@karankadmawala1795 Год назад

Very insightful video. I am 23 years old and have my mother and brother in my family. Who shall I choose as nominee and can I change it later?

@shankarnath Год назад

Thanks. You can choose any of them or do a 50% each for both. Yes, you can change nominees later.

@rajeshdengre102 Год назад

It clear my all doubt for term insurance Thanks I hv 2.00 cr insu of aviva which took 12 year ago. Is this, a good option or take additional 50 lacs from co like hdfc pl reply!!!

@shankarnath Год назад

Most welcome

@alexstanley4684 Год назад

Thank you Shankar sir for making this video. I have a question here. If one has a Life Insurance policy like Jeevan Labh which is way costly than a pure term plan for the life cover it provides and he/she has already been paying premiums since past few years, is there a way he/she could get back all the premiums paid for the Jeevan Labh so that he/she can think about taking a pure term insurance policy? Or the only option is to surrender the Jeevan Labh policy and then think of opting for a pure term insurance policy?

@shankarnath Год назад

Most welcome. Apologies, I am not well-wersed with LIC/traditional policies but I guess this decision will depend on the surrender value (details available in their sales brochure). The math has to be done as there will be some loss here but maybe it's less than a combination of mutual fund and term plan.

@lemedico Год назад

Mr. Nath, since you reply to each of us here, I'm asking you my question as a comment rather than an email. I have a generic LIC policy maturing next year after 13 years of premium payment. The agents will be buzzing over me to take another one but i dont feel LIC is lucrative. What do you suggest that I do with the money which will be a million plus ₹. Thanks

@shankarnath Год назад

Hello Dr. Ankur - there are dozens of options on how you can invest that money i.e. fixed deposit, corporate deposit, mutual funds, stocks, NPS, high yield debt, REIT and many other exotic options that're coming up every month. Your decision will be based on your goal, tenure, risk, return expectation and future plans. Since the amount is on the higher side, may I suggest you employ the services of a fee-only financial advisor to discuss your priorities and take you through the options.

@vittussimon2693 9 месяцев назад

Tata aia is good for future?

@dsaha7700 Год назад

Was expecting a learning little earlier (This time you had come after a week)...

@shankarnath Год назад

Apologies. I deliberately take a break after every 7-8 videos to avoid burnout. Having worked across functions, companies and cities, I would say the content creator role I am doing now is by far the toughest and it doesn't help that I am turning a loss every month. So pressure + pressure .. hence, I suggest all content creators should take a little deserved break from time to time

@sachintom1111 Год назад

Hi Shankar! I was planning to purchase a term insurance. However, I was just curious to know what will be the impact of latest budget announcements on Term insurance plans & premiums. Could you please explain if there is any?

@shankarnath Год назад

Hi Sachin, the budget proposals were to tax income from traditional insurance policies where annual premium > 5 lakhs. This is not likely to have any impact on term insurance premia

@sachintom1111 Год назад

@@shankarnath Thank you for the clarification

@arc6676 Год назад

Could you please compare with ULIP ? ULIP offers a return too, which looks attractive as investment and insurance both. 45k can be too much for a single family earner with kids.

@shankarnath Год назад

Hi. Term insurance is a protection plan while ULIPs are investment plans. Apples & oranges. So, in a nut shell, use term insurance for giving your dependent adequate financial coverage upon your demise. ULIPs are more ideal for one to build their wealth and it competes with other products like mutual funds and stocks who perform the same function

@arc6676 Год назад

Thank you @@shankarnath for replying. I was trying to know your thoughts on when someone have limited amount in hand, preferring ULIP products, seeing the some offered returns on investment added with insurance, rather than term insurance product ? (if not considered that rule of keeping 2 objectives/goals into separate products)

@shankarnath Год назад

@@arc6676 Hi. In my view, ULIPs in isolation doesn't have any utility as a protection product. The general thumbrule is 10 times of premium. So a 1 lakh in premium will give the policyholder a 10 lakh coverage which is highly inadequate. And with budget 2021 requiring some taxation if the ULIP's 2.5 lakh annual premium is breached, some of the charm goes away. In comparison, just a few thousand rupees in a term insurance plan will offer 10 lakhs There are some more considerations - 1. I've been observing that the government is trying to make ULIPs on par with mutual funds when it comes to taxation. This is eventually going to happen and will affect post-tax yield from ULIPs 2. Speaking of yields, there is no demonstrable data that ULIPs do better than mutual funds. I would say, the returns are a bit similar -- which is a problem. Why? ULIPs like many MFs are actively managed and are likely to find it difficult beating index funds 3. There was a time when ULIPs could compete with direct mutual funds on the basis of expense ratio. ULIPs charge around 1.3% but with SEBI laying the whip on AMCs, the MF expense ratio has come down and index funds are even lower. So with tax parity about to come, returns being the same and expenses being high - I think ULIPs are in for a tough time in terms of marketing 4. The rest of the issues are well known i.e. 5 year lock-in, lack of schemes etc. I haven't highlighted premium allocation charges etc. here because the life insurance industry has more-or-less sorted that over the years The last gap I see is .. I am not sure where ULIPs fits in my plans. Is it insurance, is it investment? An all-rounder sounds good but over the years, I have seen better utility in specialists doing their job. Therefore I use a term insurance plan to take care of my protection needs .. while MFs, stocks do the wealth creation part. I had made a video on ULIP (a very neutral video) in my ET Money days. Please have a look at that for more details. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-zssBmmlpqu4.html

@mohanmurthy5320 Год назад

Hi sir, Thank you very much for video. I am having Term insurance already from 2020, it's been almost 3 years now. After buying Term insurance policy is there anything which we have to check,monitor, update anything every year regarding this term insurance. Ex:Health check up need to be done every year and we have to update? Pls advice.

@shankarnath Год назад

It's better to check with your insurance company/agent. I myself haven't done any particular thing except ensuring I am paying the premium regularly and on-time for the last many years.

@mohanmurthy5320 Год назад

@@shankarnath thanks for your reply sir.

@lav4sure Год назад

Sir.. I am looking for LIC online Tech Term plan which offers competitive premium.. As Maxlife is not offering required sum assured for our PINCODE... Please suggest whether on LIC Tech Term plan..

@shankarnath Год назад

Hi, life insurance companies do restrict some pincodes due to high claims ratio, non-availability of medical test centres, fraudulent activity etc. I have not analysed LIC's term plan but as first step, you should first make a list of which companies are offering term insurance plans for your pincode & then decide. Maybe you can take help from any of these aggregator platforms like Policybazaar, PolicyX, Ditto and others.

@harigorantla3985 8 месяцев назад

Sir your video is very useful in deciding term insurance. I have one doubt.. i have undergone open heart surgery when I was @ 9 years and i am now 37 years old working in banking sector. Let me whether am I eligible to take term insurance. All my medicals will be ok as i am undergoing master health checkup every year...

@shankarnath 8 месяцев назад

Hi. Different life insurance companies have different underwriting norms. Pls use an aggregation service like Policybazaar or PolicyX for a system wide understanding of your eligibility. Thanks

@nidhiverma22 7 месяцев назад

It is good to talk to a good insurance advisor with more details of illness and past experience. He can suggest you the right plan based on your condition.

@passionatedriver7626 11 месяцев назад

Sir if we claim critical illness amount, suppose 30lakh, Will that amount be deducted from total cover if we die later

@shankarnath 11 месяцев назад

It's a good question. Some companies have term plans where this critical illness rider amount is extra .. while some insurer's term plans have this embedded within the overall cover. You have to read the policy wordings or consult a trusted agent on these nuances

@vaasudev5941 4 месяца назад

Term insurance with nifty details needs

@mukeshchoudhary-wz7sy Год назад

❤

@nishanabul1427 10 месяцев назад

I dint get the calculation part at 11:40 .can someone help?

@ranveerjhajj 6 месяцев назад

As a government employee, I have pension benefits upon retirement and family pension upon death, which will be 50% of my last salary withdrawn. Do I need a term plan?

@shankarnath 6 месяцев назад

If you were to die today and if your calculations show that your family will be taken care of for a few years until they can manage on their own, then you might not need term insurance. It's your personal choice, difficult for anyone to generalize it for you.

@koushikbiswash 9 месяцев назад

wow

@kumarmanish9046 Год назад

@Shanker Nath : I just took a 95lakh home loan for 20 year tenure (emi=83650, 2cr total payment during 20 year tenure). I need to count that as liability, if I am not wrong. How much to factor in for that in my coverage? Whole 2 cr? Or is that calculation wrong and there is some rule of 72 involved? (I am 40 year old) . Or I can simply count the EMI as household expense for simpler calculation?

@shankarnath Год назад

Yes, please tag the 95 lakhs as a "liability" and also add the EMI under household expenses. Over time (say 4 years later), the home loan outstanding would have come down (not much but say, 85 lakhs) then you can do a recalculation of your life insurance needs. Ideally, everyone should recalculate their term insurance needs every 4 to 5 years. Hope this helps

@kumarmanish9046 Год назад

@@shankarnath Wait then you are doubling right? It should either go as expenses or as liability, not both right? Going as expenses means paying EMI which will take care of the loan. If I am calculating whole payable amount of loan after 20 years then I should add that as liability. Why add twice, once in expenses and one as liability? I think excluding the EMI from monthly expenses and simply adding the outstanding loan amount (i.e. the amount which if put in loan will close the loan) as liability lump sum amount should be correct right?

@shankarnath Год назад

Sure. Since you are calculating term insurance coverage at a particular point in time, you can deduct that month's EMI from the loan outstandings.

@AVIK568 Год назад

hey shankar have you been to kolkata recently????just saw a person same as you..

@shankarnath Год назад

Hi. No, I haven't been to Kolkata recently

@AVIK568 Год назад

@@shankarnath oh.....ok

@sangeetawasan8021 6 месяцев назад

Hi iam 52 female. I am planning to buy term Insurance. My salary is 30k. Which term Insurance should I buy

@shankarnath 6 месяцев назад

Hi, please consult an aggregator like Ditto, Policybazaar, PolicyX etc. who can help you with the best options. Most insurers should offer you 50 lakhs of coverage

@Ramesh25Prk Год назад

It’s a bit shocking that you have missed on the ASR point which also should be checked as a factor while buying term insurance plan

@shankarnath Год назад

What is ASR?

@srini.sundar 9 месяцев назад

I must be missing something. Rule of 70 talks to inflation but how do you equate 15 lakhs in current money to be 60 lakhs in 14 years

@shankarnath 9 месяцев назад

Term Insurance requires having an eye on future expense (i.e. today's price + inflation) .. hence the back-of-the-envelop calculation using the rule of 70