[comfortablynumb]

Originally Posted by Chetan_Rao

I moved to HDFC Life (Click 2 Protect 3D Plus).

Thanks for your reply. I also bought a plain vanilla term policy (without any riders) last week from HDFC Life, as the feedback I'd heard about ICICI Pru from a few of my acquaintances (their personal experience, not hearsay) wasn't so encouraging.

Question to the insurance Gurus here - As I bought the above policy via their online channel, I was informed by HDFC Life that a hard copy of the policy will not be dispatched to me. Instead, the policy would be in Demat form and credited directly to an e-Insurance Account in the National Insurance Repository. A soft copy (PDF) would be emailed to me too. They have clearly stated in their official email that "Policy details in the e-Insurance/Demat form have the same credence as the physical form and can be produced in an event of any dispute, post-sales alteration, servicing, claims, etc.". Is this okay, or should I insist on a hard copy?

Cheers,
Vikram

[speed_edge]

Folks,

Looking for a term plan and zeroed-in on HDFC life click2protect. Confused between option "3D life" and "Extra Life". Somehow I feel Extra life is more value for money as it adds accidental benefit of 100% extra coverage. But it misses out on rider for waiver on critical illness. Seeing current lifestyle, somehow I feel that accidental extra coverage makes more sense as it gives 1Cr extra coverage at just ~7K per year. Any thoughts?

Also, plain Venilla term "life" makes sense? Its the cheapest amongst all 3.

Regards
SE

[penpavan]

Originally Posted by Chetan_Rao

They're adamantly chasing me on all channels - phone, SMS, email, even the ICICI Bank app - with constant reminders, even though I've made it abundantly clear I no longer want the policy, and even submitted a request in writing to discontinue it, with several in-person follow ups.

Same happening with me. I asked for a change of term for my first policy with them, they said it cannot be changed. I bought a new policy and stopped paying for the first. But I am bombarded with renewal reminders with accumulated premium over the years. I have ignored all of them.
I guess that's the best you can do ?

[Shankyz]

Hi All,

While I go through this thread to educate me on the term insurance aspects, have two queries that I could use your help with. Appreciate your help.

1. I am getting an offer from ICICI Pru for 1 Cr Term insurance without any medicals, not sure what the catch is but will appreciate any pointers or experience you could share. Things I should be watching out for etc.

2. I have a term insurance of 50L from HDFC Life, should I extend the same or maybe buy a new policy from HDFC Life rather than go for another insurance provider?

Thanks again

[r_devakumar]

Hi All,

I have decided to get term insurance of with HDFC life. Applied online with the help of Relationship manager and paid. But before completing the medical test, the Corona happened. The insurance person is asking me to complete the other formalities (final verification /confirmation) from my side.

Considering the possibility of getting medical test will take another couple of months, what should the best thing to do? Complete the formalities and wait for things get better or cancel?

[VKumar]

Originally Posted by Chetan_Rao

I moved to HDFC Life (Click 2 Protect 3D Plus).

I enrolled a term plan from Aditya Birla today, 3 Cr cover came for a very affordable cost of around 30k bucks (27/M, Non smoker), till age 77 (50 years term). I always opt for regular pay actually, because my calculations say that by paying in 6 year or 12 year or 1 year; I am losing a lot more - even the interest of a single pay or 12 pay combined) can pay all my regular premiums!

Let's see how the issuance goes, medical tests are not possible for sometime I suppose.

[Chetan_Rao]

Originally Posted by comfortablynumb

]... Is this okay, or should I insist on a hard copy?

I know I'm answering a couple years late, but assuming you've held onto the policy, the e-copy thing is totally fine. Nobody seems to be issuing paper copies anymore.

[aadya]

Originally Posted by VKumar

I enrolled a term plan from Aditya Birla today, 3 Cr cover came for a very affordable cost of around 30k bucks (27/M, Non smoker), till age 77 (50 years term).

Good that you are insuring yourself and protecting your near and dear, at an young age. Usually we hear lots of Horse Manure about "how young we are and not to think negative" etc.,

But I feel you need not insure yourself beyond 60 or 65 years of age as the children would be on their own by then and you are expected to have completed your emis and retirement savings by then. That excess premium could be reserved for bumping up the coverage at a later life stage - like a newborn, housing loan etc.,

Good to pay regular premium, all the other things like 5year, 10 year are the gimmicks to keep you back with the company and to earn a quick buck for the agent.

[SoumenD]

Originally Posted by Shankyz

1. I am getting an offer from ICICI Pru for 1 Cr Term insurance without any medicals, not sure what the catch is but will appreciate any pointers or experience you could share. Things I should be watching out for etc.

Were you able to spot the catch?

Even I am looking for a term plan and icici seems to be around 40% lesser than HDFC life & doesn't even need medical test. Wonder what's the reason? Is it advisable to get the riders or a plain term insurance should be ideal?

[saildrive]

Originally Posted by aadya

Good that you are insuring yourself and protecting your near and dear, at an young age. Usually we hear lots of Horse Manure about "how young we are and not to think negative" etc.,

But I feel you need not insure yourself beyond 60 or 65 years of age as the children would be on their own by then and you are expected to have completed your emis and retirement savings by then. That excess premium could be reserved for bumping up the coverage at a later life stage - like a newborn, housing loan etc.,

Good to pay regular premium, all the other things like 5year, 10 year are the gimmicks to keep you back with the company and to earn a quick buck for the agent.

I have a term insurance with retirement benefit from ABSL for 1 crore (Annual Payout of 25k)

The advisor has come with - ABSL (Income Shield) plan where i pay 4300 per month for next 10 years. Some 5 odd lakhs for a 3 crore (pure term insurance). I am bringing this up cos u said to stay away from 5/10 yr term gimmicks!

I am 46 M/Non Smoker, and he is pushing me to sign up before my birthday later this month.

Besides the above 1 crore plan; I only have a Family Mediclaim of 7 lakhs.

What are your views on the same? Do share your thoughts.

S

[diyguy]

Originally Posted by saildrive

Besides the above 1 crore plan; I only have a Family Mediclaim of 7 lakhs.

I have taken a medical policy outside of what my employment provides for my wife and kids. This will ensure they are covered post my demise or job loss. I think most of us employed with private companies should take a personal cover to derisk the family.

[aadya]

Originally Posted by saildrive

I have a term insurance with retirement benefit from ABSL for 1 crore (Annual Payout of 25k)

The advisor has come with - ABSL (Income Shield) plan where i pay 4300 per month for next 10 years. Some 5 odd lakhs for a 3 crore (pure term insurance). I am bringing this up cos u said to stay away from 5/10 yr term gimmicks!

I am 46 M/Non Smoker, and he is pushing me to sign up before my birthday later this month.

Besides the above 1 crore plan; I only have a Family Mediclaim of 7 lakhs.

What are your views on the same? Do share your thoughts.

S

Rs.4300(?+ GST). What is the duration of insurance after you pay for 10 years? Income shield plans are never pure term insurance. At the outset the premium looks attractive. Get the policy brochure and benefit illustration from the advisor. Don't allow your previous policy to lapse.

I quickly went through the policy details of the Income shield plan. Please stay clear of them. You request the agent to give you a quote for 2 crore pure term policy if you want to increase your cover.

Bump up your Family mediclaim by taking a Super Topup for atleast 10 lakhs more(7lakh deductible). It would be good enough for another 10 years.

[Oxy]

Someone is trying to sell me this policy called Bharti Axa Elite Advantage, something that invests your money on govt bonds and gives you guaranteed returns with an insurance cover.

The guy says - if you pay premium for 12 years @ 1 lakh per year, then you get a pension of 3 lakhs per year from the 13th year onwards.

Sounds too good to be true. Anyone has any idea? A feedback would really help.

[Vikalp]

Guys, can someone please suggest a term insurance plan(1 cr+) with no medicals required, for a 58 year old with no prior illness/conditions?
Any inputs will be highly appreciated.

Thank you.

[avingodb]

I am considering getting new term insurance and have been searching for some info which is not really available. How much can premiums go up in case one is overweight and from where can one get to know about it?

Medical check-ups are mandatory in case of refundable term insurance policies and even agents are not disclosing the ratio/formula.