22yo looking to buy life (term) insurance

[anishaga]

I'm a 22-year-old working professional with an annual salary of 14 LPA. I'm currently looking for term insurance with coverage extending up to around 65+ years. I'm aiming for a sum insured of 2 Crores. I've obtained quotes from Policybazaar, and they are as follows:
ICICI - 1510 pm
HDFC - 1639 pm
Max - 1371 pm
My dad is hesitant about Max, so I'm focusing only on ICICI and HDFC. I also obtained quotes from Ditto Insurance, and the quotations are quite similar.
Can you all please share your thoughts on which company to consider and from where to buy the insurance policy?

 

[Predator]

I guess HDFC is best in terms of claim settlement and coverage

 

[coolguy1]

You can get directly from HDFC for the cheapest prices.

Getting it from Ditto might add some fees but in an unforeseen situation, Ditto will also help with the claim.

 

[anishaga]

You can get directly from HDFC for the cheapest prices.

Getting it from Ditto might add some fees but in an unforeseen situation, Ditto will also help with the claim.

But, I had a concern that let's if say I die after 30 years. Will Ditto even exsist 🫠

 

[anishaga]

I guess HDFC is best in terms of claim settlement and coverage

and where to buy?

 

[Predator]

But, I had a concern that let's if say I die after 30 years. Will Ditto even exsist 🫠

go with big players only

 

[Predator]

and where to buy?

visit their website and enter your details. your lead would be generated and someone will call you

 

[anishaga]

visit their website and enter your details. your lead would be generated and someone will call you

So buying directly through ICICI / HDFC is preferred rather than buying through a channel say - Policybazar / Ditto

 

[Predator]

So buying directly through ICICI / HDFC is preferred rather than buying through a channel say - Policybazar / Ditto

yes, as third party includes commission

 

[life]

I'm a 22-year-old working professional with an annual salary of 14 LPA. I'm currently looking for term insurance with coverage extending up to around 65+ years. I'm aiming for a sum insured of 2 Crores. I've obtained quotes from Policybazaar, and they are as follows:
ICICI - 1510 pm
HDFC - 1639 pm
Max - 1371 pm
My dad is hesitant about Max, so I'm focusing only on ICICI and HDFC. I also obtained quotes from Ditto Insurance, and the quotations are quite similar.
Can you all please share your thoughts on which company to consider and from where to buy the insurance policy?

I work for TATA Aig and can assist you in getting a Tata Premier Health plan which is the pretty good, which I recommend to all my friends.

PM me if you are interested, I can share the quotation etc.

 

[bvc19296]

But, I had a concern that let's if say I die after 30 years. Will Ditto even exsist 🫠

Never buy from third party, buy only from big players who are operating in Insurance from long term.

 

[Slayer]

But, I had a concern that let's if say I die after 30 years. Will Ditto even exsist 🫠

Why the pessimistic outlook?

 

[Predator]

I work for TATA Aig and can assist you in getting a Tata Premier Health plan which is the pretty good, which I recommend to all my friends.

PM me if you are interested, I can share the quotation etc.

Bro Do not mind but the claim settlement ratio of Tata is very low.

 

[life]

Bro Do not mind but the claim settlement ratio of Tata is very low.

I've never encountered such an issue, and I haven't come across any instances like that. Whether it's Tata or any other insurance provider, it's crucial to accurately disclose any health issues or habits like drinking and smoking when taking out a policy.

As long as the medical bills are legitimate and in line with the policy terms, the underwriter shouldn't reject the claim.

Additionally, there's always a process for escalation, and you can approach the Insurance Regulatory and Development Authority (IRDA) if there are any issues with your health insurance. They have mechanisms in place to address and resolve such matters appropriately.

 

[Slayer]

I've never encountered such an issue, and I haven't come across any instances like that. Whether it's Tata or any other insurance provider, it's crucial to accurately disclose any health issues or habits like drinking and smoking when taking out a policy.

As long as the medical bills are legitimate and in line with the policy terms, the underwriter shouldn't reject the claim.

Additionally, there's always a process for escalation, and you can approach the Insurance Regulatory and Development Authority (IRDA) if there are any issues with your health insurance. They have mechanisms in place to address and resolve such matters appropriately.

Also would like to add that IRDAI bamboo is even longer and thicker than RBI Ombudsman bamboo

 

[RajeshV]

Change title to Life Insurance?

 

[anishaga]

Change title to Life Insurance?

Apologies for this, done!

 

[anishaga]

I work for TATA Aig and can assist you in getting a Tata Premier Health plan which is the pretty good, which I recommend to all my friends.

PM me if you are interested, I can share the quotation etc.

My dad is dicy on Max which claims to have the best settlement ratio, no way he is going to allow me to go for TATA

 

[anishaga]

Never buy from third party, buy only from big players who are operating in Insurance from long term.

Okay, so I have almost finalized a plan, getting almost the same quotation directly from HDFC Life and Policybazaar. Which one should I go for in your opinion? Personally speaking, I am a little biased go through the policy bazaar route as they are claiming they would help in claim settlement (don't know how much to trust them on this)

 

[anishaga]

I've never encountered such an issue, and I haven't come across any instances like that. Whether it's Tata or any other insurance provider, it's crucial to accurately disclose any health issues or habits like drinking and smoking when taking out a policy.

As long as the medical bills are legitimate and in line with the policy terms, the underwriter shouldn't reject the claim.

Additionally, there's always a process for escalation, and you can approach the Insurance Regulatory and Development Authority (IRDA) if there are any issues with your health insurance. They have mechanisms in place to address and resolve such matters appropriately.

Yes, but I would not want my family to get into a fight with these conglomerates when I'm gone