Over the last couple of weeks, I have had several queries on life insurance. Thankfully, the readers were aware that term plan is the right insurance product to buy.
Yet, when it comes to actually buying the term plan product and decide which policy to go for, some questions do remain. This post is going to deal with those questions and attempt to give perspectives, which you can use to find your own answers.
The questions around buying life insurance term plan
The most common questions are
- Should one buy term plan online or offline?
- Should one buy it from the insurer with the best claim settlement ratio?
- Should one break the required insurance cover into multiple policies or buy just one policy?
- Should one select regular premium or lower premium payment period option?
- Should one buy it from LIC or a private insurer?
I will try and use the learnings from the interactions with my clients, readers as well as my own experience, to offer various perspectives. I would be happy to read your thoughts and feedback in the comments too.
Let’s go.