The life expectancy in India has been rising steadily in the last few decades. However, so have the costs of medical treatment. For senior citizens, who have a lack of regular income or financial support from children, this could lead to a financial crisis. Further, gone are the days when the elderly lived with their... Continue Reading →
Loans are a convenient financial tool to help buy that dream home or the swanky new car. But, what if before repayment of the loan, the bread winner of the family faces an unfortunate event of death or disability? A Loan Protection Insurance could be a perfect tool at such times to ease the burden... Continue Reading →
Online term insurance plans, in recent times, have gained considerable popularity. Marketed as a quick and cost effective life insurance option by almost all major insurance companies, online term plans are definitely here to stay. What do these plans actually have in store? Here is a quick look at the pros and cons of buying... Continue Reading →
Insurance policies require you to pay a premium for the protection they give you in return, in case of unforeseen circumstances. This premium is not a single chargeable amount, but is a collective sum of various charges put together. Here is a breakdown of its composition- what it has, and what you are actually paying... Continue Reading →
Getting a suitable health cover has always been an issue for the elderly. From high premiums to extensive medical tests, the entire process of getting a health plan is strewn with multiple difficulties. Now, with the new IRDA guideline of extending the maximum age of health insurance, individuals above the age of 65 years have... Continue Reading →
Top-up and super top-up plans are two unique options to health insurance policy holders to enhance their existing sum assured. With rising inflation often actual medical expenses far exceed the existing health cover. Now with these two options available in the market, you get an advantage to meet these extra health care expenses. Top-up and... Continue Reading →
The need for health insurance in today’s times is undisputable. Medical emergencies could strike anybody. And with inflation spiraling upwards, a single ailment may cause significant financial losses. As important as it is to have a health plan in place, it is equally important to have the right kind of plan. Today, the options are... Continue Reading →
With every passing year education costs have been increasing multi-fold. The prime cause - education inflation! With education inflation increasing at a faster rate than regular inflation, of food and fuel (at 11 % as on Feb 2013, CPI figures), what may seem enough to fund higher education today may actually not be adequate for... Continue Reading →
The Income Tax Act of India lets you save tax under various sections. By utilizing these sections, a substantial amount of tax could be saved. Investments in instruments eligible under Section 80C, 80CCF, or Section 80D, not only help you invest for the future, but also provide you a deduction from your net taxable income.... Continue Reading →
To insure a car, home, or any other material asset, the general procedure involves valuing them in terms of rupees as per its market value. But what about life? Determining how much you are worth and insuring it is a surely no easy task The Human Life Value (HLV) approach comes to your rescue here.... Continue Reading →
A health insurance policy offered by your employer is a sure attractive perk. At low premium rates, and easier terms, a company mediclaim policy is a good deal, to help you meet your medical emergencies. But is this benefit actually sufficient enough or, do you have to look beyond? Here is some food for thought. Amount... Continue Reading →
Hospital cash plans are supplements which you could opt for over and above your health insurance plans. They are designed to provide you with liquid cash in times of hospitalisation to avoid a situation of being cash strapped. The plan provides you with liquid cash on hospitalisation that could be used to meet non medical... Continue Reading →
When ailments become life threatening, they command specialized medical care. Treatment becomes intensive as well as expensive, sometime beyond the scope of a regular health insurance policy. A regular health plan may be limited, not being able to cover the full cost of treatment. Thus any critical illness could become a strain, both mentally as... Continue Reading →
When it comes to premium pricing, it is found that the costs of ULIPs are far higher than their counterparts-term and endowment. The reason for this high premium lies in the plans working structure, and what it has in store for an investor. To get an answer to the question of why Unit linked plans quote... Continue Reading →
The Insurance Regulatory and Development Authority of India (or IRDA in short) recently brought about various changes in the functioning of health insurance policies. Aimed to streamline procedures and regulate policy norms, these new changes have surely impacted one and all- policy holders as well as insurance companies. A very significant change brought about in... Continue Reading →
Whether it is in choosing a plan or managing a life insurance policy, an error, could have a grave impact on our financial health. Here are 10 common mistakes one should avoid in a life insurance policy. The thinking- “I don’t need insurance” We live in a world of uncertainties. We may not be able... Continue Reading →
Insurance policy holders often find their grievances or issues, getting a cold or unsatisfactory response from the insurer. Whether it is with reference to a mis- sold policy by a pushy agent, or a rejection in claims, many policy holders are unhappy with the support provided by the insurer. The grievances either remain unresolved or,... Continue Reading →
Riders along with insurance policies are additional benefits that could be opted for over and above the base policy. Available at an extra premium, they enhance and customize your insurance policy to meet your specific needs. Insurance companies offer a host of insurance riders to choose from. From critical illness to disability, these riders are... Continue Reading →
Have you often felt your traditional insurance policy isn’t earning you any returns? Or that your ULIP is actually not providing you adequate life cover? Here is the latest version of the Variable Insurance Plan that lets you invest and insure as per your specific needs. Known as the Universal Insurance Plan until recently, the... Continue Reading →
Do you have an insurance policy that you think is not needed anymore? Or do you have a policy that your agent convinced you to buy, and now feel is not suited to your need? We often find investors taking an insurance policy at the end of the financial year just to save more tax. The... Continue Reading →
Insurance agents are often the first point of contact when you are buying life insurance. From briefing on policy features to helping you complete medical formalities and filling up forms, they are supposed to provide assistance in every possible way. But very often, you meet pushy insurance agents, who force you to buy policies, irrespective... Continue Reading →
Here is a question that pops up quite often when buying an insurance policy- “For the additional insurance needs would a standalone policy be advantageous or, would a rider be sufficient”? Where both the options seem to offer similar benefits, there are a few noticeable differences in their coverage and the premiums. So which one... Continue Reading →
An accident could occur anytime anywhere unexpectedly. At work, home, travel or the road, it almost renders us helpless with its grave consequences. The trauma of having met with an accident is almost always coupled with financial losses; of getting treatment, or coping with a loss of income, if any. Does insurance have a solution... Continue Reading →
Insurance companies allow customers to share a portion of the risk associated with the policy. Known as the “deductible” or “excess”, this is a pre-determined amount of the claim that would be borne by the insured. So, when a claim arises, the insured would pay up this deductible amount from his pocket and the balance would be taken care of by the insurance company.
In today’s world of uncertainties, a life insurance policy is an absolute necessity. It provides the much needed financial security in times of any unforeseen event such as death of the bread winner. It supports the family in the need of the hour. Today, life insurance policies have evolved into a variety of forms. From pure term plans, to investment linked protection plans, the options available are plenty.
Health Insurance is a financial tool that protects you and your family from the burden of unexpected medical expenditures. But have you sometimes felt let down or, have been dissatisfied with the service of your health insurance provider? Well, here is the era of portability. After mobiles, the latest entrant is Health Insurance Portability. So... Continue Reading →
No Claim Bonus or popularly known as NCB, is a benefit that is given by insurers to policy holders for claim free policy years. Giving you a high saving of almost up to 65% on your renewal premiums, an NCB is a sure advantage, if utilized well. NCB in Detail- What’s in Store? No claim... Continue Reading →
A term insurance rider is an additional cover that you could opt for over and above your policy. Available at an extra cost (apart from the premium you would be paying for your base policy), riders let you enhance your protection and customize the policy to suit specific needs. Do You Need a Rider? Riders are... Continue Reading →
A situation which probably most of us just wouldn’t want is a vehicle theft. It is not just the financial loss of having lost a vehicle, for most of us it is an emotional attachment too. The good news though is that if you have insured your vehicle, most parts of the financial loss could be overcome. The Indian law mandates all motor vehicle owners plying on Indian roads to have at least a third party insurance cover for damages or loss incurred to a third party on the road.
A critical illness plan is a health insurance policy designed to meet the expenses of life threatening critical ailments. It pays you a guaranteed amount if you are unexpectedly diagnosed with a critical ailment. With a critical insurance plan you get yourself insured against serious illness such as a stroke, cancer, heart attacks, kidney failures or bypass surgery. The list of critical ailments varies from insurer to insurer.