Suggestions for Term Insurance & Mediclaim

[Vasishta.Sushant]

Which company has such great facilities?Already 1000 of farmers commit suicide i can finance their stay for a year and than be part of 50 percent ; share after suicide.

Either you giving false details.Or the company saying same or in written is a bigger idiot in providing such facility.(No harsh feeling ...just stating fact in harder sarcastic way).

To dipen Malique post needs to be followed.

Splitting between two is as said claim rejection another might help.But do disclose 2nd company before buying that you do have 1 policy from another company.Else after death using non disclosure clause they can reject claim.

And yes LIC wont come with online policy as their agents are not allowing same.Also the only reason to go for it is claim settlement ratio.But again Lic is testing its waters in shares.One needs to be aware of the risk of UTI 64 bonds.

Also check jagoinvestor site or policywala forum for more details regarding same.

Also depen if your monthly salary is 40000 than 10 times is the limit of your insurance term i.e 40 lakhs .Still you want to go for higher value than you need to show your assets like properties etc.


For mediclaim i am myself in doubt so wont comment but i am finding bajaj alliance plans attractive but i havent gone through records of medcilaims.

At least read some policy documents than some online forum before commenting. Suicide is an exclusion only in the first year (and that's what I said). After one year, even that is covered.
I own two policies amounting to 1.5Cr and I am copying the actual text from my AVIVA TERM POLICY Document:

7)Suicide
If the Insured’s death occurs due to suicide or attempted suicide within 12 months of the Risk Commencement Date or the date of
reinstatement of the Policy, no amount shall be payable by Us under the Policy.

And about farmers, its so easy to say. Ask a farmer to buy a cover first. The insurance company won't even offer them the insurance.

Here is some info from you very own suggested JAAGOINVESTOR Forum:

http://www.jagoinvestor.com/2010/09/9-most-asked-questions-about-term-insurance.html

 

[MAGNeT]

At least read some policy documents than some online forum before commenting. Suicide is an exclusion only in the first year (and that's what I said). After one year, even that is covered.
I own two policies amounting to 1.5Cr and I am copying the actual text from my AVIVA TERM POLICY Document:



And about farmers, its so easy to say. Ask a farmer to buy a cover first. The insurance company won't even offer them the insurance.

Here is some info from you very own suggested JAAGOINVESTOR Forum:

http://www.jagoinvestor.com/2010/09/9-most-asked-questions-about-term-insurance.html

Agree my mistake.This trend looks to have started from aviva insurance.Earlier it wasnt there.

 

[Malique]

@MAGNeT, for health insurance, amongst the PSU's i found Oriental Insurance better i.e. their terms and conditions, caps on the sublimits etc. and dont go by the website, then theirs is the worst amonst the PSU.

they were the only ones offering insurance for parents at very reasonable rates. other companies (Pvt ones i mean) also have policies, but just for namesake, they are no interested in selling to high risk category. As soon as they come to know you are looking a health policy for your parents, they never call back.

 

[axeman]

mediclaim - look for oriental bank's group mediclaim policy, you can get it only at the major branch in your city, but an excellent policy. also very very vfm.