Ask Value Research

A term cover for a 34-year-old male

You can also add additional covers by adding riders to your basic cover, but you will have to pay extra premiums for them

Research Desk

I am a 34-year-old male looking to buy a term cover. Could you suggest a plan that will cover me at least till my retirement.
- Rishi Sabarwal

Here are three plans you may consider buying. We have also provided the annual premium for ₹1 crore cover for a 34-year-old male for a period of 26 years (so that it will cover you till your retirement at age 60).

Max Life Online Term Plan: annual premium ₹9,000 (claim settlement ratio of 98.63 per cent)
Aegon Religare iTerm Plan: annual premium ₹10,374 (claim settlement ratio of 96.59 per cent)
HDFC Click2Protect plus: annual premium ₹11,973 (claim settlement ratio of 95.86 per cent)
You can add additional riders to your basic cover by paying an extra premium. Also, always remember to disclose all the details while filling proposal form to avoid any inconvenience in future while making a claim.

This article was originally published on April 18, 2016.

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