Insurance is the small price one pays for his peace of mind. With right insurance in place, even a ‘small guy‘ can take risks and achieve financial freedom.
No matter how good you are with your investment management, your plan to financial freedom will be incomplete if there is no insurance in place.
There are losses that the insurer will not pay for.
Child plans are no different from other endowment and money back policies except for their names. After deducting agent commissions and administrative charges, the premiums invested in safe debt options offer sub-optimal returns, about 6-7 per cent.
Health insurance policies offer a wider bouquet of benefits. One must be aware of these to benefit from the policy.
Basis a circular in August 2014, IRDAI, the regulatory body for insurers in India, allowed insurers to issue long term policies. The aim of the regulator was to limit the instances wherein people forget to renew their two-wheeler policies every year
Riders are purchased additionally with a basic life insurance plan for getting additional benefits.
Any unforeseen circumstances such as fire or cancellation of the ceremonies can leave you financially and emotionally damaged.
Critical illness covers sold by insurance companies can offer you an array of benefits.
A customer is eligible to receive an NCB benefit for each claim-free year. The maximum discount that is allowed is 50% if a customer has no claim in his last five years.
A common and recurring belief in almost all areas struck by a natural disaster is (a) none saw it coming, and (b) none were properly insured.
When you focus too much on returns on risk ignoring your requirement, there is a fair chance that you may be mis-buying.
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It makes sense to be prudent at the time of filling the insurance application form and regularly pay premium after buying the policy.
Many individuals take 10-15 times of their annual income as their life insurance cover. Even though this can be the starting point to take the insurance cover but this is not the right way of calculating the correct life insurance requirement.
In the long term, the employer provided group health insurance exposes you to the risk of being underinsured or uninsured.
Normal Health Insurance policy will pay for all your medical bills up to the insurance cover you have taken under the health insurance policy but in Super Top Up policy, it will pay only those medical bills which exceeds a pre-defined threshold limit know as Deductible
Thus, a critical illness will not pay for any cancer treatment if it has been diagnosed at an early stage.
Buying the right health insurance plan may require some hard work, but it is worth the effort. Here are some factors you must keep a track of.
Tax saving and not the risk cover is the sole influencer on the insurance buying in India.
Buying health insurance policy does not mean all the benefits start immediately. One has to understand the concept of waiting period.
After the removal of contribution clause it is relatively easier to claim. These tips can make it simpler to claim on multiple health insurance policies.
Accidents can cripple an individual and ruin his family‘s future. Here is how an insurance policy protects you.
It is better to buy some riders that offer to fortify your child plan at low cost.
A lot more than your lifetime savings go into building a house, and then making it a home.