Please help me choose a cheap & best & genuine term plan at affordable premium.
Please suggest me a good & genuine life insurance term plan along with critical illness rider and any other mandatory helpful rider. I am single 35, after my father, there are 5 dependents on me, and all responsibilities are on me only, & I am the only bread earner in my family & earn between 5 to 5.5 lac pa through private job. Premium should be average so that I could afford in long term even when my responsibility increases with the time. I went onto policy bazaar & on other online portals but got too confused as there are lot of plans of same co. With different names & lot of riders & conditions . After my intensive research, found LiC, hdfc life, max & icic pru to best as of now, Though LIC is the best but LIC premium is not affordable at all considering my age & also they provide simple life cover only there are no add ons..except ADTP. I had also shortlisted PNB met life considering it's features at affordable premium but not sure about it's long term performance in future. I don't want to take any risk. Actually Whatever option i choose today, I have to be with that for whole rest of the life..so I am being a bit selective & choosy.. from the perspective of easy & smooth Settlement in case may be required in future as in my family no one is active & knowledgeable in all these things & also other perspective is premium.. that I could afford in long run in order to avoid the policy to be lapsed.. Actually I am bit late in my life so looking for the policy term somewhere around between 70 to 75 instead of just 60 which increases my premium drastically. To be summarized I want to secure the easy survival of my family as there is no one around in my relatives to support & look after my family in my absence.
I want the riders like.. waiver of premium on just mere detection of Either Critical illness & terminal illness and 2nd.. lumsum pay out on accident disability be it partial or total & temp.. or permanent and so waiver of further premiums.. and 3rd last but not the least ,"Critical illnes cover" This is what concerns me more, because i know It's mandatory but increase the premium drastically even for a small cover just for rs. 5 lack or 10 lack, while we all know this small cover is not going to help much in future in case if there is actual situation of Critical illness considering increasing inflation & medical costs. Per my understanding, CI cover should be atleast 25Lac but that is not at all affordable for me for top companies like Hdfc or icici. More over I have heard that critical illness rider added along with Term have lots of term & conditions & provides claim only in most cases at end stages of disease than the seperate critical illness policy, which further makes it of no use for us to pay the huge premium though out life when we can not use that fund for treatment with the hope to survive.
I want to choose regular pay , not ROP or limited pay.
One more confusion about smoking.. I am not smoker at all but have just few times like 7 to 8 times in last 5 years. Not sure if I should choose my self as smoker as it will further increases my premium .
Sorry for such a long text. Please help me choose a cheap & best plan. Actually 2nd Feb in DOB so want to buy before this.