Ilustration 1 – Family Floater Option for 35 years male and 10 lacs sum insured
When Aegon Religare Life Insurance began operations in India in 2008, its marketing campaign focused on the problem of underinsurance in India. In the past seven years, pure protection term plans have become more popular but a large number of Indians are still afflicted by KILB (Kum Insurance Lene ki Bimaari). A recent study by global reinsurer Swiss Re estimates that for every $100 (approximately Rs 6,500) needed for protection, the average Indian household spends only $7.8 (Rs 507), leaving a massive protection gap.
Someone once said, “Without health, life is not life, it is only a state of languor and suffering; an image of death”.
I am about to share with you a live case study of a friend.
There are many factors that need to be considered while deciding on which insurance to buy.
Some of them are, what the type of insurance is and is it matching the need and objective of the client. Is the premium low, when compared to other product options in the market, so that the customer gets value for money? What is the maturity benefit in the product? What are the returns? Is the insurance coverage adequate to cover the human life value of the customer and what is the claim settlement ratio for the company chosen, compared to other life insurance companies?
Here is a link on health plans to be analysed.
We have been recommending Max Bupa and Apollo Munich to many of our clients.
The need for a Health Insurance plan and more so, a personal health plan, independent of the company benefit insurance, is very important, and very often, people who get whisked into a hospital realize its importance, albeit very late.
As part of our constant endeavour to provide the best value advise to our clients, we have noticed, many of our clients are not adequately covered with insurance.
As per our recommendation, the cheapest and best form of cover is through a “Term Plan”, which provides insurance for a fixed period for a fixed coverage amount.
Please do contact us assessing the amount of insurance you need.
ICICI Pudential has launched three exiting products. 1. Whole Life Plan with Savings benefit- This is a guareented benefit plan with double life cover during premium term and maturity benefits paid along with life cover after maturity for the entire life. This can be a good pension tool for receiving tax free inflation adjusted pension […]
Dear Investor,To enable you to have faster access save time, keep records in order and benefit from changing market conditions on your ICICI Prudential policy portfolio performance, pl follow the process mentioned below to view your policy details.1. Log on to www.iciciprulife.com 2. Click on Register/ Forgot password. 3. After this a pop up menu […]