I am 29 years old. Which term plan policy should I go for? Also, what will be the ideal term of the policy?
Vishal Jain, Jaipur
The premium on any life insurance policy is based on the quantum of risk cover and your age. These rates vary across insurers as each one of them has different underwriting principles to arrive at the cost of insurance cover. There are other factors, like your occupation, health condition, your and your family’s medical history, lifestyle, and period of insurance cover that determine the premium under the policy. As far as the term of the policy is concerned, it is best to go for the maximum term that an insurer is willing to offer keeping your age in consideration. You could check premium rates by filling up your personal details at any of the insurance comparison website to get an idea of what is available and then zero down on an insurer and policy.
