Group Health Cover- Advantages and Disadvantages

Ria whose father was suffering from cataract, who was covered under Group Insurance Policy, was surprised to know that just the part of cataract operation would be covered under insurance, and rest has to be paid by the individual. Many of the individuals face similar kind of situations. Are you the one?

How to factor medical expenses into the retirement plan

Healthcare costs form a major part of the expenses for a person. They are additional expenses that rise with age. Medical inflation is said to be 25% per annum against normal inflation of 6-8% per annum.Only the salaried class in India t have social security benefits. Most indians do not have a well planned social security, pension or long term health-care plan in place, unlike most of the other developed countries And unless one works in a public sector organisation, a person cannot depend on the employer for lifelong health care benefits. In fact, the group insurance also ceases on retirement, from company benefits.

5 Questions To Ask Your Life Insurance Advisor Before You Buy (BusinessWorld)

Has your Advisor evaluated the need for this particular policy in light of your existing policies? Be sure to check that your Advisor isn’t just ‘selling’ you a policy blindly.

If only we had a rupee for every time someone bought a Life Insurance policy without fully understanding its features, we’d surely be millionaires by now! The next time you decide to add to your Life Insurance portfolio, make sure you ask your Advisor these 5 questions before you sign above the dotted line.

How much Insurance a person needs- Insurance Evaluation methods

Insurance protects a person and his/her family from financial difficulties. However, in most cases, people find it difficult to estimate the correct value of insurance they need.

There are several simple methods available to broadly estimate one’s life insurance needs.

How much insurance does a non-working spouse need?

There was a family of four. Anand, a small businessman, his wife Asha and two kids Nitu and Vishal. Anand was 39 years old. He lived a good life. He ran a small business that provided him with a very good income and allowed him to devote reasonable time with his family. Then, tragedy struck. Asha’s life was taken away by a drunk driver. Anand’s life and the lives of his children were turned upside down. Anand had to deal with the loss of his bride of 15 years; the one person that meant more to him than anyone else in the world. His children had to deal with the loss of their mother.

Term Plan with benefits- should one consider it?

Term insurance plan is a type of life cover

• It provides coverage for a defined period of time, and if the insured expires during the term of the policy then death benefit is payable to nominee.

• Term plans are specifically designed to secure the family needs of a person in case of death or uncertainty.

• It provides specific amount of coverage for specific period of time

Should you buy term plan online?

Term plan is the most basic kind of life insurance wherein if the policyholder dies during the policy period then his family member (nominated person) gets a certain amount (sum assured). This is called the death benefit. But if the policy period is over and the policyholder is still alive then the insurance company does not remit any money back. Thus, there is no benefit on maturity of the policy. However, the most important feature of a term plan is that you will get a very high sum assured for a really low premium amount. For example, A 50-lac cover for a 35-year old male will cost him approximately Rs.5,000/- per annum. This is a really good deal!

Why Do You Need A Term Plan?

Asvita was in a state of shock after she got to know her best friend Ananya has lost her husband. Ananya, who is a homemaker, has a 3-year old son, and does not know how she will be able to sustain her livelihood. Asvita is wondering – what has she done to protect her family in case of such an extreme situation.

If you can to relate to the hypothetical situation above and are seeking answers, TERM PLAN is the answer.

Are you sufficiently insured through multiple insurance policies?

Ankita was not sure whether to buy another insurance plan as she was already covered by her company, but the sum was not enough. Would they allow us to claim from two different insurers was her another doubt? If you also have similar doubts and apprehensions, read our post to get an insight whether getting insured from multiple insurers serves the purpose or not?

What are Top Up Plans and how can they help cover medical expenses at lower costs

Health is not valued till sickness comes. Thomas Fuller In India, health insurance penetration is just 5-6%. Most people depend on the employer provided group health insurance for their hospitalization and other expenses. One of the mainreasons for not purchasing independent personal health cover is because of the high premiums and a feeling that the […]