Is it good to finish of the premium in less number of years rather than full term duration?

Related Questions

• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on May 05,2022
  What if my private company has provided me health and term insurance of good amounts?  Shall I still buy the personal insurance now or wait for some years until I quit the company and then buy the personal health and term insurance?
  Your group insurance is a rented property . You have it till you are part of group . You ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on October 13,2021
  An LIC agent told me that if I invest 5 lakh per year for 5 years in SBI Life Retire Smart scheme, then from 10th year onwards I will get 40000 per month pension for rest of my life. And after our expiry (me and my spouse), nominee will get the Corpus amount. Is it true or Am I missing something? How to verify it?
  Dear  You have been given wrong information through mis-selling . Facts are stated below : SBI Retire Smart is a Unit Linked ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on January 05,2022
  In a term plan we are paying premium every month for the coverage but what if a person face death early (say after one year only of taking life insurance) in the period so he has not paid the amount of the coverage so will his family be getting the full coverage amount?
  Yes , claim will be payable .That is the purpose of Insurance to cover the risk of uncertain event ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on November 17,2021
  If I die after just 2 years of life term insurance, am I guaranteed to get the full amount?
  No , as per Section 45 a claim can not be repudiated after payment of 3 annual premium and ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on November 03,2021
  Is it advisable to take a life insurance for a senior citizen at the age of 62 years?
  Dear  It is not advisable as mortality cost becomes very high . Moreover, by age 62 all financial liabilities are ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on December 17,2021
  If i bought a term life insurance and I end up paying till maturity age. What's my benefit then ? will I get any premium ?
  Dear  Pure Term Insurance offer sum assured on death only and nothing is payable on survival . However , there are ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on April 17,2022
  Is it possible to have multiple term life insurance as salary increases and if yes then is it possible to claim from all if something happens ?
  Yes , one can have multiple insurances and all claims are payable . Please ensure that all insurances policies ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on January 01,2022
  I'm still a student and my age is 23. I want to buy a term insurance now so that my premium remains low. So can I still buy a 2 Cr sum insured term insurance without actually securing a job?
  Dear  No , you are not eligible for Term Insurance of more than Rs 10 lakh. For higher sum assured , ...
  
  1 0 20
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on February 21,2022
  My fathers death happened in 2017 and I am not sure if he had any insurance in his name. But I do have his PAN card number. Is it possible to get his insurance details by his PAN number, if possible then how?
  Not possible through PAN . There is no centralised system . Try to see the debits from Bank and ask ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on November 24,2021
  If I take a plan now and if I am not able to afford the plan for a higher premium, so after a few years can we take another term plan. Basically, can I take two plans?
  Dear  Yes , you can buy as many plans as you wish . But ensure that you are sharing details ...
  
  1 0 27
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on March 19,2022
  Is it possible to combine multiple term insurance from different fund houses?
  You mean to club  term insurance from multiple insurers then it is not possible because each insurance is separate ...
  
  1 0 15
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on November 02,2021
  If the difference between a term plan and a return of premium plan is 700rs per month for 40 years, for a same cover, is term plan still a better one?
  Dear  Yes , term is always better . Why should you pay extra . Save the money in mutual fund and ...
  
  1 0 21
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on October 27,2021
  If there's no death in those 20 years of term plan, will the premium be returned? What happens to the money we pay as premium?
  Dear  Insurance works on the principle of pool creation and contribution . Insurance company only manages the pool . So if ...
  
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