In case of his unfortunate demise after 5 years, out of the $ 40
lacs of life insurance cover, outstanding loan balance will be paid to the lending financial institution and remaining amount of the life cover will be paid to the nominee
Not exact matches
(1) I have just taken a term plan
of 50
lac from icici Pru
life insurance (iprotect smart) Through icici bank... (2) I have already taken family optima restore health
insurance of 5
lac from star health
insurance through local agent... (3) Now I am interested in standalone personal accident
insurance from Apollo Munich
of minimum 25
lac covering my family with dependant parent, this is online... (4) I am also thinking
of taking a critical illness ins.
For instance, you have a
life insurance coverage
of Rs 20
Lacs, however, the insurance cover that you need is Rs 50 l
Lacs, however, the
insurance cover that you need is Rs 50
lacslacs.
Just because you can not afford a
life cover of Rs 50
lacs, it does not mean your
life insurance requirement is any lower.
For instance, if your
life insurance requirement is Rs 75
lacs and you opt for Critical Illness
cover of Rs 10
lacs, go for Sum Assured
of Rs 85
lacs.
Hello Prashant, On the basis
of annual income
of Rs 1.5
lacs, if you apply for
life insurance cover of Rs 50 lakhs, it will be 33 times
of your annual income.
However, the user can change the proportion
of life insurance cover between two components as per his / her requirements at the time
of buying the product with both the components not being less than Rs. 10
lacs each.