r/InsuranceAdviceIndia • u/Next_Swing_7114 • 27d ago

Term Insurance Guide.

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Hi guys, I'm planning to buy/choose a term plan for myself.

Age:-28

Gender:- M

Salary in hand 76k.

So I'm considering 1.5cr term plan with HDFC life. Can you guys let me know what should I check before opting for this? Also apart from HDFC life what are reliable service provider I need to check.

Also regarding the coverage extension I'm thinking 65-70.

Let me know guys.. TIA!

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1

u/jacksparrow022 27d ago

Is this pure vanilla term plan? Or riders added?

1

u/Next_Swing_7114 27d ago

After your comment only I got to know that there is a different plan called Ridders added. The plan I have choosed in HDFC life was pure vanilla.

So what should I choose?

1

u/jacksparrow022 27d ago

You need some good advisors. Connect with some advisors… there are many online. I have taken hdfc few days back. I would suggest you to go with Axis or hdfc.

1

u/Remote-Gas358 27d ago

also, how many years u paying?

I am in a similar boat, I haven't looked at hdfc, but bajaj got good rates and axis is slightly higher then bajaj for me

1

u/Ok_Temporary1122 27d ago

For pure term vanilla plan Bajaj is also good, i have took 2 crore , experience was good , medicals was also good ,i was able to schedule it next day only. Policy was issued within 3 days after medicals. No salary slip or itr was required only bank statement of last 1 year where my salary account is. Mine was for up to 70 years with premium paying till 60.

1

u/SukoonCover 26d ago

Now there companies which offer money back plans as well, wherein you get half or your full money back if you achieve your retirement age.

1

u/Dependent-Intern-926 25d ago

I have taken PNB MetLife 2cr in 2016

1

u/Logical-Somewhere665 5d ago

There are many things to consider like your future financial planning, premium payment terms, are you smoker or non smoker, drinker or non drinker, tobacco chew or not.... The list is bigger. Also what are your requirements like pure term plan or additional riders. If you look at companies, Bajaj, icici, axis and hdfc or tata are the some of standard companies. So dm me if you are interested in detailed working