which is the best INSURANCE for a 24 year old with good returns .Maturity should be in 10-15 years.?

I am 24 year old .I want a cover of 15-35 lakhs.Which is the best INSURANCE cover that i can get?

which is the best INSURANCE for a 24 year old with good returns .Maturity should be in 10-15 years.?
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6 Replies to “which is the best INSURANCE for a 24 year old with good returns .Maturity should be in 10-15 years.?”

  1. INSURANCE IS NOT AN AVENUE FOR INVESTMENT. It is an avenue for reducing the financial loss of your nominee in your absence.

    Go for PURE TERM PLAN.

    Invest the premium saved in better avenues like PPF / SIP IN MUTUAL FUNDS / DIRECT EQUITY.

  2. I agree with Rajankar. Life insurance is NOT a good option from an investment more. Would rather advice you to take a Term Plan for this which will give you a pure risk cover. Much like the auto insurance that you take… if there isn’t any claim then that money goes away. A typical such cover from companies like Aviva or Aegon Religare will cost you anywhere between Rs 11000 – 13000 per year. In case you have any balance money, would rather suggest that you invest that in FD’s ( low risk), Mutual Funds ( depends on which one but have moderate risk) or in equities ( high risk)

    Regards, Deepak

  3. To begin with considering your young age the policy should cover your earning period. If the policy matures when you are 39, then there will be no risk cover when your dependents need it most.

    Also decide whether you want cover of 15 or 35 Lacs.

    Ideally have a cover of 10 times of your income.

    Make a good combination of term insurance plus endowment/ULIP.

  4. It is good that you thought about insurance at this age. If you take an insurance policy now, you need to pay lesser premium only. You have to assess your requirements, your long term goals like marriage, children, their education, your commitment to your parents etc., and then decide appropriate plans. There are plenty of plans available in the market- such as whole life, endowment plans, term plans, pension plans etc. If you take a regular insurance plan, please ensure its continuity till the policy matures to get its full advantage. If you drop out in the middle, particularly before 3 years, you will lose all the premiums paid. If you take a ulip plan, you should opt for a longer term of 10 years or more to get expected benefits. If you need more information, contact me: email: [email protected].

  5. Dear Sir/ Madam,

    Since you are interested in securing your family with a suitable life cover, we would like to present to you the HDFC SL Click2Protect Plan. This is an Online Protection plan that secures your loved ones. HDFC SL Click2Protect is an affordable term plan which can be bought in just a few minutes by completing just 3 easy steps. You can get a life cover of Rs. 1 crore at just Rs. 23/day*. We would also like to let you know that HDFC Life has a claim settlement ratio of 95.41% according to the IRDA Annual Report 2010-11, which is one of the important factors when it comes to a term plan. To know more about the product and generate an instant quote, we request you to take a minute and visit . If you are completely satisfied with benefits, terms and conditions, you can go ahead and buy instantly.

    For assistance on the product or the buying process, you can also call us toll free on 1800-266-9777.
    Insurance is the subject matter of the solicitation.

    Best Regards
    HDFC Life

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