My driver has just got married and I want to take a term plan on his name. He is 26, what is a right sum of cover?
The quantum of insurance cover depends on several factors like his age, health condition and his current income
My driver has just got married and I want to take a term plan on his name. He is 26, what is a right sum of cover?
Baldev Raj, Delhi
Your gesture is good and in the right lines. The quantum of insurance cover depends on several factors like his age, health condition and his current income. Based on these factors, you could decide on the amount of cover he needs. You could get him an online term plan with his existing bank details and documents needed as part of KYC to get him a cover. Just take a cover where he will be able to manage the premium outgo in the future, if he has to manage it on his own.