Timeline for What is the difference between Health, Medical and Life Insurance (India) and Which one I should take my self and which one for my wife?
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| when toggle format | what | by | license | comment | |
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| Sep 29, 2015 at 19:17 | review | Late answers | |||
| Sep 30, 2015 at 2:21 | |||||
| Dec 10, 2011 at 10:38 | comment | added | Techiegirl | yes, it is usually for 10,20,30 yrs. The maximum policy time will reduce when your age is higher, and your annual premium will be higher. For eg, an annual premium of 14k will cover a person of 26 yrs for 1 crore (life cover only) for 30 years. But a 30 year old person will need to pay much more for the same cover and period. Non-smoker/smoker also matters. If you are 60 year old, this kind of insurance will have a max period of 10 years since a cover for 20 years is not good for the insurance company. Then you may need to undergo health check up also for term insurance. | |
| Dec 10, 2011 at 8:34 | comment | added | metal-gear-solid | Is term plan also for a time limit as you wrote "25k yearly premium will ensure a life cover of around 1 crore for a 30 year old person for 20-30 years" what is mean of "for 20-30 years" | |
| Dec 10, 2011 at 8:33 | comment | added | metal-gear-solid | ok for better security. Term plan is best for peace of mind | |
| Dec 10, 2011 at 8:32 | comment | added | Techiegirl | yes, mostly after a period of 20-25 years. So it is useful as an investment and for tax saving. Tax exemptions are applicable in the case of term insurance also. | |
| Dec 9, 2011 at 16:36 | comment | added | metal-gear-solid | +1 useful info thanks.SO in simple LIC policy will we get money back after a period of time? | |
| Dec 9, 2011 at 16:29 | history | answered | Techiegirl | CC BY-SA 3.0 |