Is Aditya Birla's new Income Suraksha Plan worth it? Exploring monthly income in term insurance
Published by Mint
Abhishek Kumar's role: Quoted
Abhishek Kumar, founder of SahajMoney, compared a term plan paying the family a monthly income with a regular term plan, noting the same premium could buy larger cover, and said the monthly-income plan may suit families not confident managing a lump sum.
More of Abhishek's views on insurance
Mint examines a new term insurance plan, sold by a life insurer with an online aggregator, that pays the family a monthly income for the rest of the policy term instead of a lump sum. It explains the payout options, sample premiums and a minimum payout period of 10 years, and weighs the plan against pure term cover paid as a lump sum. It includes a comparison prepared by Abhishek Kumar.
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Is Aditya Birla's new Income Suraksha Plan worth it? Exploring monthly income in term insurance
