Thread by @ipo_mantra

This life insurance plan covers you for a sum total of ₹0 !!

What an amazing deal, right?

But, here’s something your insurance agent isn’t telling you👇

(A THREAD)

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I’m talking about ‘Zero-cost’ term plans.

A few insurers give you an option to get back ALL your premiums if you end your plan BEFORE its maturity (for a specified period)

PS this isn’t the same as term plan w Return of Premiums (TROPs) that returns money AFTER maturity.

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Now, to someone who isn’t ready to commit to a regular term plan
OR
risk losing money if they outlive the term

This might be a great option.

But there could be some issues👇

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Zero-cost term plans ARE NOT really ‘zero-cost’.

For starters, you do not get back the GST you paid with your premiums.

Plus, 40 years later, your premiums wouldn’t be worth the same as today, thanks to 6% inflation.

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Secondly, you get to opt for zero-cost ONLY for longer tenures.

So, let’s assume you take a plan till you’re 70.

Your premiums would be higher.

Suppose when you’re 55, your insurer asks you if you’d like to opt-out; you say yes.

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If you’re genuinely considering a longer tenure

Zero-cost term plan could be a good option to get back your premiums at minimal charges.

But, it's just not as great as your insurance agent might've said.

BTW few insurers might hike their term insurance prices.

So…

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If you’re considering getting a term plan, talk to @joinditto-

1. Just head to their website- bit.ly/42V6KTL

2. Click on “Book a FREE call”

3. Select Term Insurance

4. Pick a date & time of your choice and RELAX!

Ditto’s advisors will take it from there.

#Ad

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