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A term plan for a 36-year-old person

If you want to buy a big cover near to 1 crore rupees, you can opt for diversification and buy two insurance plans

Please suggest a term plan for me. I am 36 years old. I have a housing loan of ₹30 lakh, it is not covered under any insurance covered.
- Sunilkumar Prajapati

At this age, you may go for an online plain term insurance. HDFC Click2Protect Plus- Life Option and Max Life Online Term Plan are recommended for you. If you want to buy a big cover near to 1 crore rupees, you can opt for diversification and buy two insurance plans. For details on how to calculate adequate sum assured, click: Calculating Sum Assured.

Annual premiums for 1 crore sum assured at your age for a healthy non-smoker male for policy term of 25 years is as below:

HDFC Click2Protect Plus- Life Option - 8196
Max Life Online Term Plan - 7000
Premiums are exclusive of taxes.

This article was originally published on January 08, 2016.

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