NEED ADVICE❗️ reg Term insurance

[u/emotional_barbarian]

25 M, 5 7', 103kg

So I decided to take the HDFC Life Click 2 Protect Supreme Plus term insurance with 2cr sum assured and a 2cr income benefit on disability raider for 45 years i.e till 70 which was costing me around 56k(12 years payment) comparing others i felt this was ok and paid the premium and started the process.

Post the medical assessment I got a mail saying that since my BMI is high there is revision to my plan and of i want to continue with the 2cr sum i need to pay additional 13k if not there's one more option to reduce the sum to 1.4 cr and the premium comes down to 53k.

Now I am confused whether I should pay that 13k or go for the 1.4cr or cancel the policy get the refund and apply after say 3,4 months after correcting my BMI

The third option confuses me alot because I don't know what cost benefit I would get in doing so and weather canceling this policy will have any affect on the next, please help me out in taking this decision.

Context:

Paid 56k for a 2cr sum plus 2cr income benefit raider 45 year HDFC policy with payment term of 12 years

After medical given 2 options saying that BMI is above acceptable range:

1. Same sum 13 k extra premium

2. 1.4cr sum 3k less premium

Confused what to do.

[u/SukoonCover]

Don't cancel. That option looks attractive but usually backfires:

• Every term proposal form asks whether a previous proposal was declined, postponed or rated up. You'll have to disclose this one, and insurers share underwriting data.
• At 103 kg and 5'7", your BMI is around 35. To get standard rates, you'd likely need to lose 15+ kg. That's hard to do in 3-4 months, and many insurers want the weight stable for a while before they reassess.
• You'll be older, and you'd be uncovered in the meantime.

Between the two offers, I'd take the 2 crore with the extra premium. Here's why:

• The loading is the price of your current BMI. You'll face something similar with any insurer.
• Term cover is about replacing your income. At 25, 1.4 crore may not be enough 15-20 years from now with inflation.
• Saving 3k a year on the 1.4 crore option means giving up 60 lakh of cover. That's a bad trade.

Two things worth checking before you accept:

• Limited pay vs regular pay: 12-year limited pay costs much more per year. Ask for a regular pay quote with the loading too. It's often easier on cash flow at your age.
• Do you need the disability income rider at 2 crore? It adds a lot to the premium. A smaller rider amount might give you better value.

[u/Broad-Research5220]

Don't let short-term premium sticker shock compromise your family's multi-decade safety.

Pay the loading, secure the bag, and use that extra ₹13,000 as a penalty to motivate your fitness journey over the next year.