I am 43 years old. I have taken LIC’s e-Term policy for 2 Cr for next 22 years about a week back. The premium cost is Rs.70, 000/- per year.
I am on second thought now whether I should cancel it and opt for one of the following options:
- Reduce the time period from 22 to 15 years
- Chose HDFC life plan where they also have permanent disability option with nominal extra premium.
Given that I can afford to continue the current LIC e-Term policy as well I seek your suggestion on the same.