I am 39-year old. I am physically fit and a non-smoker. I want to take a term insurance plan of ₹75 lakh or ₹1 crore. As I have my bank a/c with HDFC Bank and my research also suggests that HDFC Bank offers good term plans, should I go for one from HDFC Bank? Or is Max Life better? Please help.
- Samar Kasana
Max Online Term Plan and HDFC Click2Protect are both good plans with differing premiums. Both the companies have satisfactory claim settlement record. Therefore, as you are planning to go for an insurance cover of a crore, you may diversify by buying covers from both insurers. Make sure to disclose all personal and health-related details so as to avoid any inconvenience for the family just in case the claim arises. Below are the premiums for a non-smoker, healthy male at your age under both the policies for a ₹50 lakh cover. The premiums exclude service tax.
- Max Online Term Plan: ₹6,400
- HDFC Click2Protect: ₹8,600
This article was originally published on October 05, 2015.
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