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By: gargee Kulkarni

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Thursday, 6-Oct-2011 18:21 Email | Share | | Bookmark
How much insurance cover one should have?

Are you covered? You wish to have safety for the full life or merely for a particular period? That is depend on a variety of factors including your present lifestyle, age in addition to size of your family.
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It is significant to guess how much monetary support your dependents would require to enjoy the same lifestyle they enjoy now. Ideally, you should get a cover for an amount equal to six to ten times of your yearly income. The need for insurance keeps changing time to time according to your standard of living. While the idea of a client buyer taking multiple policy has not taken off in India yet.
You make lic online payment in lic india website.
People are advised to obtain insurance cover while young. There are different advantages of buying an insurance policy early in life. The premium for an insurance policy is radically smaller at younger ages. This way you are able to protect your dependents at lesser in general expenditure. Since you grow older, the probability is that you would bear from health problems are higher, and getting insurance could become difficult at that point. Besides , if you are buying insurance cover to meet anticipated expenses such as your children’s higher studies etc, at that time saving first in your life is extremely useful.
Insurance plans & its terms should be checked with care before investing or signing long term contract, and some of the areas where variation are commonly vigilantly consider the features of each product and make your mind up if it meets your requirements.
There are few options available with about LIC pension plan
HDFC Life has endowment plans such as endowment assurance plans, unit-linked endowment plans, money back plans in addition to several group insurance policies. Besides endowment as well as money-back plans, ICICI Prudential Life insurance has retirement plans and children education plans that cater to a range of requirements of an individual. LIC has numerous options ranging from Komal Jeevan, Jeevan Kishore, Jeevan Mitra , Jeevan Saral , Jeevan anand along with many money-back policies.
Other insurance companies also have gamut of policies depending on individuals . IRDAs web-site gives information on the performance of the various players and you should visit the website to know the performance of the life insurance company that you are taking into consideration . When you meet an insurance consultant, ask him to give information on the insurance company he is on behalf of. Obtain quotations from another companies. The premiums they charge could be different for the equivalent safety .
Numerous companies have products that could be slightly different from each other. See the features presented, including riders , do not get a product that gives you options that you do not truly.[url]


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