This is the story of an online term insurance plan. For those of you who don’t know, a term insurance plan is one where you pay premium every year and get paid a lump sum in case of your death (you don’t get anything back if you don’t die, so this is not a saving policy unlike most other life insurance policies). So these are much cheaper than regular life insurance. When these are bought online, you save the cost of a broker/insurance agent in between and the companies pass on the saving to you, so these policies are still cheaper. For someone like me who has drastically reduced cash inflow in the hope of a future cash flow, a term insurance plan is an important guard against the vagaries of life during this interim period.

A few months after I arrived in India last year, I applied for an HDFC Life Term Insurance plan, click2protect. I told them upfront that since I have come back from US recently, Continue reading “Buying an insurance policy – harder than it seems!”