4 Replies to “In India what kind of insurance poilcy should one take at the age of 40.?”

  1. One has to go for ONLY and ONLY Term Insurances available in the market as the other ones are mainly for investment which does not give decent returns and the Term Insurances are purely for Insurance purposes.

    I also have two Term Insurances due to the reasons provided above, One Term Insurance has been taken by me from ICICI Prudential http://www.iciciprulife.com (wherein they provide life cover upto the age of 70) and the other Term Insurance has been taken by me from Max Life Insurance http://www.maxnewyorklife.com (wherein they provide life cover upto the age of 65).

    Do remember to take all the Riders alongwith the Insurance.

    All the best 🙂


  2. As the only bread winner of a family of four, You can goin for a pure term assurance, but this is available upto a maximum of 30 years. Hence My suggestion is goin for a term assurance with LIC and also take a life long insurance cover like whole life policy or LIC’s Jeevan Anand which covers you for the whole life. Jeevan Amrit a new policy from LIC offers you to pay premium only for 3 or 4 or 5 years, but covers your life for 30 years and the total premium you pay comes around 20% to 40% of the sum assured depending on your age.
    Study properly and take a nice policy from LIC the insurance company with central govt. backing and gained confidence for the past 50 years.

    good luck
    [email protected]
    http://www.geocities.com/pnkmurthy/lic.html


  3. Dude.. we are sailing in the same boat..

    First go for medicare…for the entire family.. say for Rs 1.5 lakhs each and the preminum will work out to about 4000 Rs totally

    Next go for a LIC policy with any one of ICICI.. met life or HDFC for at least a Rs 25 Lkhs cover…wherein you will pay Rs 75,000/year as premiuim…. lots of riders and schemes…

    Do it now dude.. ur family deserves it.

    You dont know wether a Bus will hit us off or a heart attack will bump us off… or if none of these happen then u should expect a political rally going out of hand like it usually does and suddenly a few thousand safforon clad hynas lynching helpless bystanders as a mob and taking our life out…..anything can happen from quakes to floods…

    Do it today…and cover every eventuality


  4. Go for cheap pure term insurance.

    AS per my research, SBI offers cheapest term insurance though you will be asked for medical if you will ask for cover more then 10 Lakh irrespective of income. I asked for about 15 Lakh cover & premium is 4283/- for next 25 years(I am currently 29). your premium will be high because of age.

    Ideally one should have insurance equal to 6 times annual earning or 10 times annual expenditure.





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