—Satish BhowmickInsurers underwrite life insurance proposals for diabetes patients conservatively which means they are likely to load the premium or decline the insurance. It becomes difficult to buy insurance if your proposal has been declined in the past. A term plan for a sum assured of Rs50 lakh for a 5-year term would cost around Rs6,000. One of the important criteria is that the sum assured should be 10 times of the annual premium paid. That time the sum assured was 10 times my salary then.

Source: Mint May 14, 2018 03:22 UTC