Alternate For Term Insurance

[ravikiranrav]

Hi Everybody,

This is Ravi from Bangalore 29 year old guy, few day's back i planned to purchase Term Insurance from one of the Private Agency for the Tenure of 30 years , but after i came to know that these term insurances are benefited only after the death of the insured person, so on what basis i can purchase this insurance and we can judge the death of a person.Please help me, is there any other alternatives for Term Insurance with good lump Sum amount returns as we get after the death but not for the within stipulated period.In short words i can say i want insurance policy that give me good money even after the completion of the tenure since we have paid premiums for the insurance,Please Please reply to the post.

Thanks
Ravikiran.N

[ravikiranrav]

Hi I request the experts to give me some light on this topic.
thanks

[Manish_Kumar]

Hi Everybody,

This is Ravi from Bangalore 29 year old guy, few day's back i planned to purchase Term Insurance from one of the Private Agency for the Tenure of 30 years , but after i came to know that these term insurances are benefited only after the death of the insured person, so on what basis i can purchase this insurance and we can judge the death of a person.


Actuaries are used with life insurance companies in order to predict mortality rates. While they cannot specifically predict which individuals will die over a given year, they know through historical data, that a certain amount of people out of their insurance pool will die over a given amount of time. They can create a statistical model that takes into consideration mortality rates in the age groups of their insureds. This will fairly accurately predict how many people will die so that they can charge the appropriate amount in premiums.




Please help me, is there any other alternatives for Term Insurance with good lump Sum amount returns as we get after the death but not for the within stipulated period.In short words i can say i want insurance policy that give me good money even after the completion of the tenure since we have paid premiums for the insurance,Please Please reply to the post.

Thanks
Ravikiran.N

What is the main purpose of buying Life Insurance according to you?
Check Types of Life Insurance (http://www.policywala.com/forum/showthread.php/503-Types-of-Life-Insurance) and buy which is best suited for you.

[himalayan]

I just want to suggest here that you can go for the best option after analyzing and comparing the policy, its long term benefits and company's market value/trustworthiness that offering the insurance plan.