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Having a Second Thought about a Term plan I bought

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29 Aug, 2023 by  Tanmay Tarte


Hello everyone, I'm currently experiencing some second thoughts about a decision I made. I recently purchased a term insurance plan from Tata AIA called Smart Sampoorn Raksha Param Rashak. This plan is an endowment policy in which a portion of the premium (out of 4056) amounting to 2400 is invested for market-linked returns. However, after watching a video on the LLA channel, I'm starting to feel a bit uncertain. I'm wondering if I might have made a mistake. Your insights would be greatly appreciated.

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Term Life Insurance

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03 Sep, 2023

Hello Tanmay,

Smart Sampoorn Raksha Param Rashak is not a pure term insurance plan. It is best to maintain your insurance and investment separate and not combine the two. If your family is dependent on your income for their living expenses - you should first buy a pure term plan. It will ensure that they are financially secure should anything unfortunate happen. You can then explore the various investment avenues available in the market.

Hope this helps. Thank you!

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