News From Press Term Life Insurance plan prices to increase by up to 20%! Here’s why you should buy before March 31

Term Life Insurance plan prices to increase by up to 20%! Here’s why you should buy before March 31

Term Life Insurance price 2021: The increase in term insurance rates can range between 10% and 15%. Many reinsurers had already hiked their premium rates at the start of 2021 and the others are expected to follow suit by April 2021.

Financial Express Mar 22, 2021

If you are planning to buy a term insurance plan, you should purchase it by March 31 as prices are expected to increase in the new Financial Year starting from April 1, 2021. According to PolicyX Founder and CEO Naval Goel, an increase of 20 per cent in life cover prices is expected in the new Financial Year. Goel told FE Online that the percentage may differ from company to company and their plans. There are other factors such as gender, age group, income and etc which will also affect the life cover prices premium.

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