Results 1 to 4 of 4

Thread: Life Insurance Advise Needed

  1. #1
    PolicyWala NewBie
    Join Date
    Dec 2011
    Location
    delhi
    Posts
    2

    Default Life Insurance Advise Needed

    I would like to take Life insurance for myself. I would like to know about my wife, my child and my parents. Is there any family life insurance? I think No I would like to take which will be actually beneficial and wants a life cover of 1 cr. Also is it advisable to take life insurance of father and mother when they are in their 60s. Please advise on this.




  2. #2
    PolicyWala Fan
    Join Date
    May 2009
    Location
    India
    Posts
    84

    Default

    Life Insurance Cover is bought to cover risk of loss of breadwinner. If you wife and parents are earning and somebody is dependent financially on them, then buy life insurance minimum of 10 time of their income.
    Use these calculator for your parents -
    Human Life Value Quick Calculator - http://www.policywala.com/hlvcalculator.php
    Life Insurance Income Replacement Needs Analysis Calculator - http://www.policywala.com/lincalculator.php
    For your wife check here -
    Home Spouse Life insurance Income Replacement Needs Analysis Calculator - http://www.policywala.com/hwncalculator.php

  3. #3
    PW Expert
    Join Date
    Mar 2009
    Location
    Noida
    Posts
    113

    Default

    Quote Originally Posted by peraccount View Post
    I would like to take Life insurance for myself. I would like to know about my wife, my child and my parents. Is there any family life insurance? I think No I would like to take which will be actually beneficial and wants a life cover of 1 cr. Also is it advisable to take life insurance of father and mother when they are in their 60s. Please advise on this.
    There is no family life insurance policy, which covers all the family members. But you can go for group life insurance policy if there is a group of 15 members, which is in existence before buying the group policy and not specially created for buying just group life insurance policy. If no one is dependent on your father and mother (who are in 60s), no point of buying life insurance now. If you buy now, you would have to shell out lots of money.

  4. #4
    PolicyWala NewBie
    Join Date
    Dec 2011
    Location
    India
    Posts
    4

    Default

    A husband and wife combine take joint insurance policy. After age of 60 it is next to impossible that they will not get policy.


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •