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I am looking for a term insurance plan of ₹1 crore. Is it wise to split this cover into two different term plans of ₹50 lakh each from two different companies for risk mitigation? Also, please do let me know of good terms plans available online?
- Prakhar
If you are buying a large term insurance cover, it is wise to split the cover between two different insurance companies to diversify risk. You consider buying an online term plan from Aegon Religare iTerm Plan, Max Life Online Term Plan and Bharti AXA Life eProtect. These plans are selected after considering the premium and the claim settlement ratio of these companies. Find the premiums applicable to your age under all these policies and select the one that suits your budget. Make sure that you disclose all personal and health-related details to avoid any trouble while making a claim in future.
This article was originally published on March 14, 2016.
Disclaimer: This content is for information only and should not be considered investment advice or a recommendation.
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