News From Press What should be the duration of a term insurance plan?

What should be the duration of a term insurance plan?

Source: ET Feb 28, 2017

Kavish is a 33-year old accountant with a family of three. Since the birth of his child, he has been thinking of reviewing his life insurance needs.

He wants to increase the sum assured and term of the policy, in view of his added responsibilities. He has been approached by an agent who recommends a plan that will cover him till the age of 80.

There are other options with durations varying between 50 and 70 years of age. He feel ..

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1 Comment

Prashant · 7 years ago `

2 things this article misses big time are
1) if after retirement, from the retirement corpus if big expense is made and after that if kavish dies than what happens to his wife since nowadays children do not take care of parents thanks to foreign culture.
2) The highest age may be 80 but highest tenure of policy offered by any life insurance co is 40 years so kavish can not buy a policy up to age 80 but has to settle up to age 73.
3) Also who will and who can guarantee that he will and he can build a corpus big enough to take care of his retirement?

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