Which term plan is best whether Term plan with Maturity amount or No Maturity amount?

Related Questions

• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on May 05,2022
  What if my private company has provided me health and term insurance of good amounts?  Shall I still buy the personal insurance now or wait for some years until I quit the company and then buy the personal health and term insurance?
  Your group insurance is a rented property . You have it till you are part of group . You ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on January 05,2022
  In 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 September 17,2022
  If I buy a term insurance plan from any insurer and unfortunately the company gets shutdown in the middle of term then what happens to my insurance policy, will it be active or not for the entire term?
  Dear As per Insurance Act , no insurance company can  shut down . At the most , another company would ...
  
  1 0 163
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on November 24,2021
  If 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 ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on February 14,2022
  If I opted for an Endowment plan of 1 crore cover and nothing happens to me in the covered period, does the insurance company returns 100% of the amount I paid all these years after the maturity of the policy?
  Yes , that is the meaning of endowment . On maturity , you receive guaranteed sum assured along with accrued ...
  
  1 0 45
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on March 01,2022
  If I opted for an Endowment plan of 1 crore cover and If I'm getting hospitalized, does this policy covers the bill amount as well? Or that come under health insurance?
  Life insurance covers risk of death unless you had taken critical illness rider . For medical , you need Health ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on November 02,2021
  If 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 ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on November 06,2021
  I 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 ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on October 22,2021
  If 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 ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on January 09,2022
  What's the logic behind taking the term plan for 20yrs only?
  Dear  I think you have been misguided . There is no concept of 20 year term . It all depends ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on November 11,2021
  Can I upgrade my term plan in future when I am able to afford(spend) more to it?
  Dear  No , each additional sum assured need fresh underwriting . Today , you are being insured as per your health ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on November 20,2021
  Can we extend term plan period after completion of the term fixed before?
  Dear  Insurance is a contract for a term and premium is calculated for a term only . You shall have to ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on February 21,2022
  If I buy term plan till the age of 65 and if my death is natural before the age of 65 then would my family get the covered amount?
  Yes, that is the purpose of term insurance. Money on death and nothing on survival 
  
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