BackTerm plan premiums: A ready reckoner
1 min read
15 Jan 2021, 07:30 AM IST
A look at premium rates for some insurance policies of a sum assured of ₹1 crore across three age categories for policy terms of 30, 25 and 20 years The claims settlement rate is measured by the value of the policies as a lower settlement rate is indicative of high ticket-size policies being rejected
PremiumLife insurance is not about investing your money to earn a return on it, it’s about financial protection for your loved ones. The most efficient way to do that is through a term insurance policy. You pay only for insurance and after the policy term ends, you don’t get any money back. But on death during the policy term, it pays a huge corpus to the nominees.
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Look at the premium (cost of the plan) and the claims settlement record of the insurer.
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Published: 15 Jan 2021, 07:30 AM IST
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