Term Insurance Guidance
Friends,
I wanted to buy a term insurance. My relative has suggested me to go with this below plan for 5 years. Each yr premium is coming up to 2.3 laks for 5 years.
Tata AIA Life Insurance Smart Sampoorna Raksha
Unit-linked, Non-participating, Individual Life Insurance Plan for Savings and Protection
Key Benefits
Choose from range of funds from equity oriented to fixed income focused, based on your risk appetite
Safeguard your financial goals through Death Benefit in case of unfortunate death during the policy term
Refund of 2X Premium Allocation Charges in policy years 10, 11,12 and 13
Refund of 2X Mortality Charges from 11th policy year onwards.
Flexibility to pay Regular premium or Limited premium of 5, 10 and 12 years
Tax benefit1 as per applicable tax laws
I'm a newbie and paid the 1 yr premium yesterday but want to check with experts like you all if I'm in a loss making machine.
submitted by /u/galaxy4u2005
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