Suggestions for Term Life Insurance

[chiron]

Please suggest a good term life insurance for 28 years old with 2-3 Cr sum assured till the age of 60-70

looking into HDFC click 2 protect, looking for better alternatives to compare and insure

 

[living.off.the.grid]

Lic - tech term plan,
Max life - smart secure plan,
Reliance Nippon,
Kotak Mahindra - e term plan.
Tata AIA - Sampoorn Raksha Supreme.
You can check on these for a starter then pin down based on your requirment.

 

[Souvik]

I can give you Yes bank and HDFC bank people's numbers
You can ask them
Even Indusind/IDFC/Kotak ... People's numbers
If you want

That should help getting more info on the product. But taking it online directly from insurance provider rather from bank sales guys have reduced margins and hence lesser premium.

Also dont trust everything bank RM says about a product. @chiron Use your diligence, if something sounds too good to be true, then probably it is.

 

[thunderbolt]

You can use this approach also to select the best one based on past data. (Video is of 2020)

 

[Mehulk8]

HDFc is good, off late max life has also been good with very good payout %. Max life also has relatively cheap policies compared to others. Whichever policy you choose, also check for lifestage benifits

 

[sarathtg]

@chiron - which life insurance did you purchase ? How did it go ?

All,

I am considering either Icici or Max life as of now ? Premium looks almost same for both of them. Any suggestions amongst them ? Max has better settlement ratio but Icici has better brand value - hence the confusion.

 

[atom008]

I had received mediocre service from ICICI, I had noticed, in education they motioned post-graduation, however my qualification is till graduation. agent says it's don't matter to them. but i'm worried about future issues. so raised this issue to cc. but it's been 3 months still they have not replied properly.

 

[Priya KaramPriya Karam is verified member.]

Please suggest a good term life insurance for 28 years old with 2-3 Cr sum assured till the age of 60-70

looking into HDFC click 2 protect, looking for better alternatives to compare and insure

Hi,
I know someone from Life insurance team of Axis Bank who can directly reach out to you either one on one or virtually and have a discussion on the same. let me know if you would like to consider Max Life Insurance from us.

Thanks

 

[quino]

Hi,
I know someone from Life insurance team of Axis Bank who can directly reach out to you either one on one or virtually and have a discussion on the same. let me know if you would like to consider Max Life Insurance from us.

Thanks

no offence but, max insurance is partly owned by axis & axis gets 10-40% of our premiums as commission. unless buying through axis is cheaper for an individual, why don't they directly goto max website & purchase for same prices?

 

[Priya KaramPriya Karam is verified member.]

no offence but, max insurance is partly owned by axis & axis gets 10-40% of our premiums as commission. unless buying through axis is cheaper for an individual, why don't they directly goto max website & purchase for same prices?

Just to inform you, if you opt taking it from Axis you will get following benefits:

For Max life Insurance Term Plan
Age - 28years
Sum assured -2 Cr
*Advantages you are getting
1. Return Of Premium Option
2. ⁠Coverage of tax 10D
3. ⁠Premium Paying Term - 10 years
4. ⁠Policy Term - 65 years
5. ⁠Monthly Premium - Rs 4,593
6. ⁠Return Of Premium - Rs 5,51,220
7. ⁠Life Coverage - Rs 2,00,00,000*

no offence but, max insurance is partly owned by axis & axis gets 10-40% of our premiums as commission. unless buying through axis is cheaper for an individual, why don't they directly goto max website & purchase for same prices?

It’s about building relationship as definitely you will be getting better services from both axis and max, as you will be getting an RM which can help you out directly for both banking and insurance queries the services and everything also you will be easily getting updates for the same also no need to visit the branch.

 

[quino]

It’s about building relationship as definitely you will be getting better services from both axis and max, as you will be getting an RM which can help you out directly for both banking and insurance queries the services and everything also you will be easily getting updates for the same also no need to visit the branch.

if it had been health insurance, i'd have agreed. but this is life insurance. upon inception of policy, there's mostly nothing else needed to be done until maturity except paying premiums. so, i don't see a benefit other than adding a middleman, unless they're already an axis acc holder. even then the RMs are not aware of the policy wordings, and won't be able to resolve doubts themselves much. sure they'd know enough to make the sale, but not the same level of knowledge as the max customer care/max branch executives.

 

[Priya KaramPriya Karam is verified member.]

if it had been health insurance, i'd have agreed. but this is life insurance. upon inception of policy, there's mostly nothing else needed to be done until maturity except paying premiums. so, i don't see a benefit other than adding a middleman, unless they're already an axis acc holder. even then the RMs are not aware of the policy wordings, and won't be able to resolve doubts themselves much. sure they'd know enough to make the sale, but not the same level of knowledge as the max customer care/max branch executives.

we do have a Critical illness facility too, supposedly anything happens like heart attack or paralysis or something you can claim that amount and that amount will be credited to your account, we provide direct cash benefit whereas general health insurance provide amount to the hospital.

 

[DaDarkkNight]

we do have a Critical illness facility too, supposedly anything happens like heart attack or paralysis or something you can claim that amount and that amount will be credited to your account, we provide direct cash benefit whereas general health insurance provide amount to the hospital.

Which insurance providers are having tie-up for this critical illness policy? Also, are you talking about standalone critical illness policy here or a rider/add-on with life/health insurance?