Term plans are straightforward products and you can rarely go wrong while buying one. Even so, you can end up with an unsuitable policy or fall into a trap. For most buyers, the premium alone is the deciding factor. The best feature of term plans is that they are cheaper than the traditional plans available. Premiums of term policies are lower given the fact that they are pure insurance products unlike endowment plans, which provide insurance as well as […]
When should you discontinue an insurance policy
Is it prudent to buy insurance for a spouse who does not earn?
Insurance and risk management is as old as trade and exchange of goods for money. Common sense dictates that when there is a risk it’s wise to distribute or transfer the risk to a wider community. Insurance dates back to the early ages of trade & finance. Changing life scenarios- Of all the milestones in your life , you would definitely remember your first pay cheque! It was a wonderful feeling of independence and ownership. At the age […]
What are the data points in term insurance calculation
A term plan gives the policy holder an opportunity to get the protection of life insurance cover for his family at minimal costs. However, if the insured person survives the policy term he would not be eligible to receive any amount. Estimating the Life Insurance Cover required while buying Term insurance is an important part of financial planning. Enlisted are the most important data points considered by insurance companies while calculating insurance : Present age of the insured in years […]
How much Life Insurance do you need
Estimating Life Insurance Requirement is an important part of financial planning. While buying life insurance, many people are unable to arrive at an adequate sum assured in sync with their requirement. Many people do not have life insurance at all, thereby risking the financial well-being of their families. Are you adequately Insured ? – Being uninsured, under-insured, over-insured An uninsured person exposes his/her family to the maximum financial risk because after death he is not leaving his dependents with adequate […]
Is Company Provided Health Cover Sufficient?
If you want value for what you pay , then do it at the right time. There are many young people these days who opt for early health & life insurance. This is a smarter move as it comes cheap if started early. Each generation of employees are getting smarter than the previous . Industry experts say that companies get a group insurance cover only to cover their liabilities but not to cover your responsibilities. A report by ICICI Lombard […]