Home |Life Insurance |
Can I take term plan on the base income generate from rental and interest on fix deposit?
Can I take term plan on the base income generate from rental and interest on fix deposit?
Share
Shailesh Kumar, Co-founder, Insurance Samadhan 
Answered on June 09,2022
No , rental and interest income is not generated income hence can not be considered as basis for calculation of sum assured .
This income will continue in case of death .
48 views
Related Questions
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on January 05,2022In a term plan we are paying premium every month for the coverage but what if a person face death early (say after one year only of taking life insurance) in the period so he has not paid the amount of the coverage so will his family be getting the full coverage amount?
Yes , claim will be payable .That is the purpose of Insurance to cover the risk of uncertain event ...
1
0
73
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on December 21,2021If a person dies abroad, will term insurance taken in India is still valid? and sum assured will be given to nominee in case of death?
Yes , term insurance is universal and claim will be paid in case death happens in foreign land . ...
1
0
400
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on October 20,2021Can we have 2 term insurance like one from company and one personal?
Dear Yes you can take multiple covers but ensure that all previous policies are declared to new insurer else it ...
1
0
40
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on November 20,2021PNB metlife super saver plan with health benefits plan me invest karna sahi he kya?Ye tax benefit deta he kya? 80C and 80D? Ye plan income tax section 10(10d) me add he kya?
Dear PNB Super Saver is a good plan keeping in mind various options available but each rider has a cost ...
1
0
373
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on November 24,2021If I take a plan now and if I am not able to afford the plan for a higher premium, so after a few years can we take another term plan. Basically, can I take two plans?
Dear Yes , you can buy as many plans as you wish . But ensure that you are sharing details ...
1
0
27
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on March 01,2022I've already bought a term insurance with a fixed cover of 1cr. But now , I want to increase this cover amount to 2cr. Shall I buy a new one ? Or is there any other option?
Dear You should buy a new plan . Continue the old and buy additional cover of Rs 1 crore as ...
1
0
38
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on November 02,2021If the difference between a term plan and a return of premium plan is 700rs per month for 40 years, for a same cover, is term plan still a better one?
Dear Yes , term is always better . Why should you pay extra . Save the money in mutual fund and ...
1
0
21
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on November 06,2021I took an LIC term plan (Plan no. 825) at the age of 25 (2018), which did not had any option of add ons at that time. How can I correct this now for both Critical Illness and Disability Addon ? Any alt solution ?
Dear As per my knowledge , riders are not available in table no 825 . You can buy Critical illness and ...
1
0
28
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on January 05,2022What kind of plans should I buy If I dont have fixed amount of earning per month and that can fluctuate?
First Insurance Premium should not be paid in monthly mode as you pay 8% more . So pay annual premium ...
1
0
14
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on January 24,2022Can a house wife earning rental income and filing IT regularly take term plan? If yes which one?
No , she can take term plan on basis of passive income . Rent is considered passive income because ...
1
0
417
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on January 24,2022Whether it is good to reveal any pre existing health issue like cervical spondylitis etc in term plan?
Dear Yes , there is a questionnaire and you should answer all giving details of your health . It is ...
1
0
37
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on October 27,2021If there's no death in those 20 years of term plan, will the premium be returned? What happens to the money we pay as premium?
Dear Insurance works on the principle of pool creation and contribution . Insurance company only manages the pool . So if ...
1
0
65
-
Shailesh Kumar
Co-founder, Insurance Samadhan . Answered on October 22,2021If husband and wife are working, then each person required term plan or single person is ok?
Dear Each life is independent and generating income . Each life must insure to protect future income generation . So both ...
1
0
68