Should I take a term insurance? If yes, which one?
23 Dec, 2022 by Ayush Agrawal
Hey, this is Anuj Jain from Jaipur (Rajasthan). I am 25 years old living with my parents. We do have a family-floater health insurance but I don't have a term insurance. Dad's almost 55 now, and I feel that it'd be a good idea to take a term insurance policy.
- We don't have any loans, debts etc
- We have a joint family with grandparents, uncles, their families and us all living nicely together. Established family business but my father doesn't run that, his brothers do. He has separate job.
- Dad's present income is around 6LPA, mine is around 12LPA
- Things in plan are a house for my parents majorly
- I might be married in few years and have kids in the next few
Keeping this in mind, please suggest some policies and key terms/numbers to go after. Also I'd appreciate if you ask any questions you might have that will help me decide better.
Hey Ayushi, suitability of a term plan really is different for different people, no two people will have the same preference.
Ideally the thought behind it is to protect your loved ones who are financially dependent on you incase you pass away.
Now there are multiple ways to determine your eligibility based on your liabilities and also to further choose a plan.
Why don't you schedule a free call, a personalised session might help you to evaluate it in a different light.