You are absolutely correct, one should invest in pure return based product with
pure term insurance plan to complete the basic personal finance planning.
Following the intense all - round media coverage on the benefits of taking
pure term insurance policies and keeping insurance and investments separate, there is huge interest in online term plans.
There are term policies, or pure insurance coverage, and the many variants of whole life, which combine an investment product
with pure term insurance and build cash value.
But personally I always like the concept
of pure term insurance plan without any conditions apply or looking for any additional benefit from a term insurance plan.
Though more and more consumers are convinced about the benefits
of pure term insurance plans, many are confused.
Unlike pure term insurance plan LIC endowment plan is beneficial for those who want to have a disciplined saving long with life coverage.
1) Could you please suggest which all points should I clearly ask them or get clarity from them so that I don't fall in trap of any hidden conditions for this
particular pure term insurance?
Also, as compared to the low
cost pure term insurance plans which do not offer any surrender / maturity benefit, whole life plans have an investment component too and this is often used as a savings instrument.
A combination of the same benefits can also be achieved by
purchasing pure term insurance (to insure the parent) and investing in mutual funds / fixed deposits on a regular basis, says Gaurav Roy, co-founder, Bigdecisions.in.
Return of Premium Term Insurance is nothing but a term insurance plan but
unlike pure term insurance, in this variant if you don't die during the entire term of the policy, then you get all your premiums back.
The uptake
of pure term insurance is increasing because people have started to appreciate its value as an instrument for financial security and protection and not seek returns commensurate to those on savings or investment contracts.
My best choice is always
taking pure term insurance plans and invest balance in any bank FD or mutual funds or high dividend yielding stocks.
This is the reason why the endowment plans or money - back plans are costlier than
the pure term insurance plans.
i want to take
a pure term insurance with some riders.
In
a pure term insurance, there is no survival benefit.
A pure term insurance plan that provides security through #Good Premium and offers multiple options of Regular Income and Enhanced Sum Assured
As
a pure term insurance plan, Pradhan Mantri Jeevan Jyoti Bima Yojana, is available for people between the age group of 18 - 50 years.
A pure term insurance provides a higher Sum Assured at lower premiums.
However, the premium will be higher than that of
a pure term insurance policy.
A pure term insurance plan for protection purposes.
The plan is
a pure term insurance plan which is available online through the website of the company.
Being
a pure Term Insurance Plan, no benefit will be payable to the life insured on maturity of this LIC term plan if he or she survives the entire duration of the policy
Phrases with «pure term insurance»