Term Insurance - Incresing Life Cover vs Voluntary Topup
I am in process of buying a term insurance. While I am interested in increasing life cover option, Max is pushing for a voluntary top up option that is up to 100% of the sum insured available one time during the policy tenure. The incremental premium will be as per today`s premium amount.
Premium for 2.5 Cr = 26k (w/o increasing cover option)
Premium for 2.5 Cr = 42K (with increasing cover option)
This personal is saying why pay an incremental 26k from today when one can incerease the coverage anytime later at a premuim applicable today.
What is advisable here?