ilmscore | Watch This Before Buying Term Insurance | CA Rachana Ranade

Watch This Before Buying Term Insurance | CA Rachana Ranade

Published: 2022-12-17
Status: Available | Analyzed

Predictions from this Video

Total: 3
Correct: 0
Incorrect: 0
Pending: 3
Unrated: 0
Prediction
Topic
Status
Premiums for term insurance at age 40 are significantly higher than at age 20, implying a future increase in premiums for those delaying purchase.
"when they are nearing their 40s that is when maybe their body will start showing certain signs of aging and all and that might be the time that they realize I think I should have an a life insurance but then let's try and compare the premium that they would have to pay at the age of 40 with had they started their term plan at the age of 20, exactly that would be the amount of premium"
Term Insurance Premium
Pending
Individuals should ideally increase their term insurance sum assured by approximately 6% annually to account for inflation.
"while you are taking out your term insurance policy ideally you should top up your term insurance every single year but you need not top up it physically every year while you take out the policy you should just define that my term insurance costs some assured should go up every year by _____ percentage now _____ percentage you could ideally match up with inflation say six percent"
Term Insurance Coverage Adjustment
Pending
Purchasing riders for term insurance is considered beneficial as they provide additional payouts beyond the sum assured.
"making an extra payment for Riders is still beneficial because your family members are going to get an additional payout other than the sum assured."
Term Insurance Riders
Pending