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Look at claims settlement ratio while buying term insurance plan

DNMUM439658 | 7/22/2019 | Author : Abeer Ray | WC :1101

Do not look at premium amount alone. The sum assured must be sufficient for your family to continue with the lifestyle they currently lead and repay all loans on an untimely demise
Personal Finance

Though an increasing number of people are now realising the value of term insurance, a major percentage of the Indian population continues to be ignorant about the new term insurance plans sold by both public and private players in the market. This, to some extent, explains the continuing reputation of LIC in the insurance market. However, a comparison of the premium charges of LIC with private insurance companies has revealed the former being costlier than the latter. An LIC official says, “Products are priced based on factors such as target segment, the channel through which they are to be sold, demographic profile, ticket size of policies, reinsurance arrangements, etc. We keep on reviewing our premium rates. In the past
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