You cannot switch from traditional term plan to e-term plan
Prakash Praharaj: Nov 27 2012, 02:57 IST
A company can also reduce the claim burden. For example, if the sum assured is R5 lakh with a deductible amount of R50,000 and the claim is R2 lakh, the company will pay a claim of R1.50 lakh only. Top-up policies are cheaper and are becoming popular due to deductibles.
The author is chief financial planner with Max Secure Financial Planners. Send your queries at fepersonalfinance@expressindia.com
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