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Can I close ulip plan and choose another pure term insurance
Share I have 50L term insurance( ulip) upto 85 yrs( if I die before 85yo my family will receive 50L + 30k per month for 10 yrs) and I have another 50L pure term insurance not ulip upto 60yrs. I'm planning to force close the ulip one and increase the pure term insurance upto 1cr or 2cr. Is it good to close ulip one ?
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Hi,
You can definitely close the ULIP and take a higher plain vanilla cover on your life.
But, understand what's an adequate cover first.
Beshak has a TruMatch Insurance calculator where you can actually understand what is the right life cover for you
And as per your current income and expenses you can opt for a sufficient cover so that your family doesn't suffer in your absence
Buy insurance mindfully
Incase you require assistance with what to buy, schedule a meet with us
1 Comments Reply Reply
Surely that's a good options as ULIPs might not offer you the best future value in terms of the net corpus as it will today if you foreclose it and invest the premiums saved directly into the mkts.
For your age you can get a better coverage of life insurance based on your income and health to take care of your long term needs.