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Planning to buy term insurance? Purchase before premium rises again

Ignoring it isn't an option for those who have liabilities or dependants

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To escape rising premium rates, try to buy term insurance right away from a player that has not yet hiked its premium

Sanjay Kumar Singh
  • Term insurance premia were hiked in April 2020, and they may rise again in the coming months
  • One reason is that the mortality rates experienced by insurers have been higher than expected
  • In response, reinsurers have hiked their premium rates. Insurers are passing on these rates to customers
  • To escape rising premium rates, try to buy term insurance right away from a player that has not yet hiked its premium
  • Since this is a long-term contract, it is preferable to purchase it from a reputed player
 

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First Published: Jun 28 2020 | 8:28 PM IST

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