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COMMUNITY FORUM: CREDIBLE INDUSTRY EXPERTS ANSWER YOUR INSURANCE QUERIES

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term insurance enhancement, critical illness insurance, accidental disability insurance, cancer insu
Posted By ashish jaiman MEMBER 27 Jun, 2023

Facts:

My DOB: August, 1978 (Still not 45 yrs of age)

My Wife DOB: April, 1976 (~ 47 yrs old)

Son DOB: February, 2005 (>18 yrs old)

Daughter DOB: March, 2012 (~11 yrs old)

Me and my wife have Bajaj Allianz term insurance policy of 1 cr each. I additionally, have 50 lacs PLI.

We also have a family floater heath insurance 50 lacs SI that has become 1 cr now

Questions:

I need to enhance my term insurance by 50 lacs and my wife term insurance by 1 cr.

I do not know if getting term insurance for children is a right thing or not? And, if yes, what shall be the amount?

Me and my wife want to get critical illness insurance for 50 lacs.

I do not know if getting critical illness insurance for children is a right thing or not? And, if yes, what shall be the amount?

Me and my wife want to get accidental disability insurance for 50 lacs.

I do not know if getting accidental disability insurance for children is a right thing or not? And, if yes, what shall be the amount?

Me and my wife want to get cancer lumpsum critical illness type of insurance for 50 lacs.

I do not know if getting cancer lumpsum critical illness type insurance for children is a right thing or not? And, if yes, what shall be the amount?

Can these all be clubbed? Can a family floater type of insurance happen with the above requirement for all? Or, do I have to take individual insurance separately for all 4?

What if my financial advisor is not alive at the time I need the services?
Posted By Anmol Duggal MEMBER 21 Oct, 2023

Hi Beshak Team


I have been learning about this platform, the quality of the financial advisors on this forum, and how they are the much-needed solution at times of REAL NEED to the family in case of a medical emergency, or death.


And MAAAAAAAAAAN, I am convinced.


But before choosing one, I want to know what would happen in case my financial advisor is not alive when me and my family need their support. Will Beshak appoint someone else in that case?


Another reason I am asking this question is that I would ideally want someone who is experienced in the industry, let's say 15+ years of industry experience, and he started his career at 25, which would make him 40 years by now. Currently, I am 28, and maybe would want medical support when I turn 65, but due to the 12-year age gap, maybe the financial advisor himself is not in a condition to work at that time.


Going by this concern should I just go and choose someone who is younger, and has less experience?


Looking forward to the responses from the team.


Thanks

Anmol Duggal