Ask Value Research

Should I buy LICs eTerm Plan and stop my existing term plan?

Aviva i-Life Term plan has a good past record with a claim settlement ratio of 94.2 percent and grievance resolution for the past financial year at 100 percent

Research Desk

I have an Aviva I-life Term policy of ₹50 lakh since May-2016 half-yearly premium is ₹5592. Now I want to switch to LIC s e-Term Policy because of better Claim Settlement Ratio. But with the same amount of premium I can get only ₹25 lakh cover from LIC. What should I do? My DOB is 20-01-69.
- Subrata Dutta

Aviva i-Life term plan has a good past record too with a claim settlement ratio of 94.2 percent and grievance resolution for the past financial year at 100 percent. The premium of this plan is comparatively low. LIC term plans are costlier. Hence it is advisable to continue with your existing term plan.

This article was originally published on July 01, 2016.

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