Term plan for people working in merchant navy
12 Mar, 2021 by Rajat Sharma
Which companies offer pure term plan to people working in merchant navy.I have asked around and nobody is too sure regarding it.Also what all details should be mentioned regarding my profession in the documents so that no problem comes in future.I am 36 year old and have my parents,wife and 1 year old girl child as dependent on me.I don’t have any other investments but I have taken health insurance from star health for my whole family.I also have a housing loan on me for 30 lakhs so I am thinking to take a term insurance of 1 crore.Please provide some guidance and insight.
To best of my knowledge there is no restriction on extending term plan to merchant navy professionals. As it is a relatively riskier occupation the insurance company may impose some occupational extra charge. This would also depend on nature of the cargo & the actual job profile of the applicant.