Does Term plan with increasing cover make sense for 40 year old?
on comparing Bajaj allianz and other polcies for 2 cr Sum insured - the premium is coming to the same as 1.4 crs/ 1.5 crs increasing to 2 crs
On the other hand if I take a policy with 2 crs base increasing to 3.2 crs - the premium jumps up almost 50%
Considering this - if i need a policy with cover of 2 crs - does it make sense to go for increasing cover ? I am 40 years old - have dependents - but no loans