We all love our family the most and do everything possible to keep them happy and in good spirits. Every relationship nurtures in a way, of giving space to each other, yet at the same time, showing our love, affection and care in every way possible. While this is a subjective matter, somethings in a relationship are obvious for us. For example, you (as a breadwinner of the family) can show your care by giving your spouse and children a perfe…
If you’re just starting to look for life insurance plans, you may be curious about how much money will you have to pay for the insurance coverage. There are multiple factors that determine the premium applicable to you and it can be quite confusing at times to comprehend why you have to pay a rate that is higher than others for a life insurance plan
Let’s look at the factors that can be cause of higher life insurance premium for your:
When it comes to ‘Term Insurance’, the word “lapse” isn’t a good thing to hear. What does a lapse of team policy mean? Simply put, if your term insurance plan has lapsed, it implies that the policy is no longer valid and you do not have coverage and protection.
Nobody would want to lose the insurance cover benefit after investing in a term plan. It is detrimental to family’s financial well being. To avoid your policy getting lapsed,here are …
Before diving deep into numbers and knowing what will be the cost of a 50 Lakh term insurance plan; let us understand what exactly a term insurance plan is.
A term insurance polic…
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When it comes to providing for and protecting our family’s futures, people are always ever-ready to go the extra mile. That is why term insurance policies have become increasingly…
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The term insurance, also known as a term plan, provides coverage to the nominee in the unfortunate event of death of the l…
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A term plan is a type of life insurance policy. If you purchase a term plan, you will receive coverage for a pre-specified period of time, or a certain “te…
The family-oriented Indian society is a prime example of collectivist culture. The most important unit of society is closely-knit families. Indian families often have few earning …
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Switching funds in an existing ULIP is very beneficial as it gives you the desired safety against fluctuations in fund performances as per market conditions. Once you invest in a …
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As per data collected by the IRDAI, the total number of individual life insurance policies issued in 2017-18 was 28.2 million. Out of this only 9 million policies were bought by w…
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ULIPs have gone through multiple regulatory changes and they have evolved over the years, emerging as a completely new product, often referred to as New Age ULIPs (NULIPs) or four…
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Life insurance cover is meant to act as a protective shield for you and your loved ones against the uncertainties of life. The benefits of life insurance vary from one plan to ano…
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As customers when it comes to buying a life insurance policy, there are endless options available in the market. From term plans to unit-linked plans and from money back to return…
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We can never over emphasise the importance and benefits of life insurance protection but there is one more important aspect of life that life insurance upholds. That is the import…
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In many parts of the world, including India, women have a longer life expectancy than men. According to WHO data published in 2018, Indian men’s life expectancy was 67.4 years whi…
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Unit-linked insurance plans (ULIP) are essentially an insurance plan which offers you both protection of life insurance, the flexibility of investment as well as market-linked…
Term insurance is a kind of life insurance policy that provides coverage for a limited duration, or a particular ‘term’ period. If the policy holder dies d…
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It can often be intimidating to invest in a financial instrument without fully knowing what you are signing up for. In fact, a 2018 study by PwC1 made recommendations on the level…
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The term insurance refers to a policy that ensures financial stability and security of the family in the future. Before understanding how insurance works in India, let us under…
They say that there are two sides to every story. The same situation can look different to two people with very different perspectives. Some might view going to the movies as a…
Yes, you absolutely should get a health check-up done before buying term insurance. To understand why, one must first look at the nature of term insurance.
Term …
Insurance is a big deal not just in the world of business but also contributes to the economy as a whole. It has a huge impact on how businesses evolve, how people think about eco…
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That our relationships are the basis for the most beautiful moments in our lives is just as true during the bad times as it is during the good. In fact, it’s when we face our b…
It is in our nature to ask questions. Particularly when it comes to spending money, we become a lot more cautious and ask for more information about the product or service. In cas…
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Understanding the basic life insurance terminology helps us to understand the various benefits and features of a policy. You might wonder what does various insurance terms like…
Life insurance provides financial protection to the family and dependents of the policyholder in the unfortunate event of his death. Realising this importance, one…
Your love for your family knows no bounds - but money does. And it shouldn’t become a reason for your family’s plight in the unfortunate event of your untimely demise. To assua…
Retirement is an exciting prospect. Who doesn't want some newfound free time and money to spend? We need to plan ahead and save up to make sure we can truly enjoy it however we…
Abhishek had long known about the benefits of investing in term insurance policies. As a child, he had watched his father make regular premium payments and heard how it would e…
In our 30s, we tend to spend a significant part of our income on lifestyle needs such as family vacations, children’s tuition fees and EMI payments. Amidst all this, we somehow…
Ashok is 35 years old and works as an engineer in the water works department. When he was 25, he enrolled for his first term insurance policy for a period of 10 years, for whic…
For various reasons, life insurance is like an elephant in the room that does not get talked about enough. And that has, over the years, given rise to a number of life insuran…
Unit-linked insurance plans or ULIPs have always stood out as an instrument of investment due to their ability to provide both market linked returns along with security and pro…
Every person has face several key events in his or her lifetime, such as marriage, promotion, childbirth, anniversary, retirement, and so forth. In between, the cycle of life c…
Throughout her life, Anita had witnessed her parents paying premiums on their life insurance policies with one insurer. When Anita started working last year, she was advised by…
Term insurance plans are purely protection based insurance plan, wherein the case of the death of the policyholder the nominee receives the entire sum assured of the policy, in…
Many people with pre-existing chronic illnesses leave themselves out of health insurance benefits because of their false belief that they are not eligible for cover. Meanwhile …
The urban Indian woman has arrived; tasting success in every domain, she has even made inroads into traditional male bastions – be it business, career, sports, politics, defenc…
Insurance companies offer term plans that are now exclusively accessible on the web. These online term insurance plans are anything but difficult to purchase and a sure shot va…
As women enter the workplace and other economic spheres beyond just the domestic ones, they are now a power to reckon with. They constitute 22.1% of the total labour force in I…
India’s medical inflation operates at as high as 15%. This is an astounding figure, and no matter how much you earn, being able to afford quality medical care will require you …
A policy lapse occurs when the benefits and coverage provided under an insurance policy are terminated for a policy holder. A policy is ‘lapsed’ when the policy holder misses t…
Our life changes very fast, before you realize you take on additional responsibilities. Just look back and think over the last big change in your life? It could have been taking…
Common Life Insurance Mistakes to Avoid
Insurance helps you provide financial protection to your loved ones. Keeping this in mind, it is important to make your insurance decisions…
After securing a job of his choice, Rakesh wanted to immediately invest in a term insurance policy as he had realised that term insurance policies were among the better avenues…
Term insurance plan is an essential investment you should start as early as possible. However, while buying term insurance make sure you do not commit these 7 common mistakes:
Death is inevitable, but the impact can be minimised through proper planning and awareness. Many people are the sole breadwinners in their family. Their untimely and unforeseen…
United Linked Insurance Plans (ULIPs) are one of the best tax-saving investment tools available to investors today. It offers dual benefits of wealth creation and life insuranc…
Though most working professionals have not studied law, nearly all have heard about Section 80C of the Income Tax Act, 1961. What makes the Section so popular and important? Th…
Buying term insurance plan online is fast and cost-effective. We factor your needs and curate options within the term plan that are the best for you. If you are confused abou…
A strong foundation of good education, moral values, discipline and health prepares a child to succeed in life and that primary responsibility lies on you as parents. But good …
Given the wide variety of market investment options at our disposal, it can be difficult to decipher which would yield the best results to help us achieve our financial goals. …
Traditional Life Insurance plans are known to provide multiple benefits like income return, risk cover, and tax benefits. They are insurance plans that cater to individuals wit…
By definition, term insurance portability allows the policyholder to switch to another insurance company without ending their existing policy. Despite the change in the insuran…
United linked insurance plans (ULIPs) have long been labelled as costly investment instruments owing to various charges incurred by the investor. It’s true that the entire premium …
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In the 1980s, India’s average lifespan was 48 years. Only two decades later, the average lifespan shot up to 62. That means a generation, only twenty years apart from the one b…
With the passage of time, it’s common for human beings to cultivate myths or false perceptions about things. Myths are old as human civilization and sometimes myths can becom…
At some point in life, every individual is faced with the question, “Can I have two term policies?” Yes, say experts. Although term insurance is much cheaper than the investmen…
Ankit had recently gotten a job with an international corporation in his city. As all children care for their parents, Ankit too cared dearly for his parents’ well-being and de…
Being the bread earner of the family, we all strive hard to give the best without any hassles. However, as they say life is uncertain, an untimely death of the bread earner of …
Humans are perpetual seekers, intrigued by everything enigmatic and ambiguous. The eternal quest for immortality is one such fascinating subject that cuts across time and space…
When it comes to providing for and protecting our family’s futures, people are always ever-ready to go the extra mile. That is why term insurance policies have become increasin…
Kenneth Mathew is a wealthy realtor who has accumulated vast amounts of assets and money from a lucrative business and financial investments in his lifetime. He has two sons an…
Life insurance policies work to provide financial security to your loved ones after your death. The money can be used for different things depending on the situation, such as c…
Many people in India still rely on their neighbourhood insurance agent, neighbours, friends and families to select the best life insurance plan or a life insurance company . As…
Devesh wanted to purchase a life insurance plan, which would provide financial security to his dependents in case of his sudden demise. But he often pondered what would happen …
Term insurance is the purest and most inexpensive form of life insurance available in the market today. Though term insurance premiums are light on the pocket, it offers substa…
Simply put, an insurance policy rider represents a provision or modification to an existing insurance policy that provides additional coverage, that …
Buying a life insurance policy is a serious decision. Many times, the 'fine print' (policy clauses on restrictions and exclusions) is overlooked, deterring you from achieving your…
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Consider this scenario: you are planning a vacation through the colourful cities of Europe. It takes a lot of meticulous attention to detail, from bookings to itinerary. Your f…
Ankit wasn’t worried when his parents retired. He knew that both his parents had been investing in term insurance plans for many years. The entire family was reassured that eve…
Human life is fragile, and even though we don’t want to talk about the eventuality of death, the possibility is constantly looming on the horizon. It is true that you cannot pu…
With the onset of the modern lifestyle that brings several risks to us, it has become imperative to have health insurance. However, if you happen to suffer from a sudden disabi…
Term insurance is the cheapest of all insurance products, but still only one in five Indians opt for it. As opposed to this, more than 65 percent Indians have purchased a life …
Life insurance is bought to ensure financial protection for the loved ones by the policyholder. It is primarily intended to serve as a financial cushion for the de…
Smoking, pre-existing diseases, and obesity can make life insurer’s wary about offering insurance coverage to you. In these cases, the hesitance bodes well, because these condi…
Deven wanted to purchase a life insurance term which would also provide benefits if he was disabled because of an accident. Recently, his friend Mahesh was completely disabled …
Mr. Sehgal took a home loan of Rs. 20 lakhs against his term insurance cover of Rs. 40 lakhs. During the policy term (12 months post the issue of term policy), Mr. Sehgal commi…
When buying life insurance, people hardly think more than the sum assured, premium and tenure of the policy…
You can protect the interests of your loved ones in your absence. Here are a few things to be kept in mind to ensure that your claim is paid to your family.
Fill …
The only certain thing about life is its uncertainty. Unforeseen circumstances can lead your family’s financial security under threat, and therefore it is in your best interest…
75% of the overall insurance premium in India is accounted for by none other than the life insurance sector. In 2017-18 itself, the total premium stood at Rs 4.58 lakh crore wi…
Providing a grace period for life insurance premium payments is essential because a person may not always be in a situation to make payments on the exact date. If there were no…
Most companies offer group term life insurance coverage to their employees that ensures financial security of an employee’s family even after his demise. It is aimed to provide…
Companies across the world face a common challenge – employee attrition. For most companies, talent is a rare commodity that’s trickier to scout for and retain in their organiz…
When the Goods and Service Tax (GST) was introduced in 2017, it made headlines - there was no sector in the country’s economy untouched by the reform. Implementing…
After retiring from his job, Shambhunath, 65, wanted to purchase a term insurance policy, which would provide death benefits to his family. But he had a history of lifestyle di…
Owning a home is a common financial aspiration of every individual. However, achieving it isn’t as easy as it might seem. Buying a home requires a lot of prior financial planni…
Life insurance is among the most widely known financial planning tools today. There are plenty of reasons for its popularity – life insurance provides with a life cover, there …
A Unit Linked Insurance Plan (ULIP) is a unique financial instrument that combines aspects of both insurance and investment. Under the investment portion, ULIPs are even more d…
Owning a home is a dream come true but it also comes with a long-term liability to pay off the loan. You have to pay a fixed amount from your salary every month to pay the home…
Rahul bought his first term insurance plan when he was 28 years old. At that point, he had bought a plan that provided coverage of Rs. 1 crore. It had seemed sufficient because…
Being a single parent, you have to shoulder a heap of responsibilities. You are the only one who must take care of your child’s needs, nurture them, and protect them from worri…
Retirement can be tough; however, with the right steps towards saving and investment, it can be possible to generate an additional income stream to support your retirement. The…
Though the Insurance Regulatory and Development Authority of India (IRDAI) conducts consumer education and awareness initiatives throughout the year, insurance awareness and kn…
How to search for the right life insurance policy?
- Munish Sharda, Managing Director & CEO, Future Generali Life Insurance
Your friend bought a life insurance policy and tol…
Life insurance cover is supposed to provide you and your family with financial protection in the light of uncertainties related to life. One’s life and responsibilities change …
With an increase in medical inflation and sedentary lifestyle-induced diseases, it has become imperative to get a health insurance policy to protect yourself against the gigan…
It is common knowledge how you can save tax by buying term insurance. As a taxpayer, both Section 80C and Section 10(10D) of the Income Tax Act of 1961 work towards your benefi…
Equipping your child with the best educational opportunities is always a priority. It enables them to pursue their interests and become independent and informed individuals. How…
We all have enjoyed watching family sagas unfold on the silver screen and on our television screens at home for many years now. In many ways, they reflect the change in our soc…
Rahul and Shruti, who had been married for two years, just found out the greatest news of their lives - they were going to be parents! They were over the moon and soon enough, …
Health insurance plans are contracts between insurers and policyholders whereby, the insurer pays for all the medical expenses of the policyholder (as per conditions highlighte…
Benefits of saving in life insurance for women
Women have played a central role in household finances in India. It is not uncommon for women to be called the ‘money manager’ of t…
Mr Sharma has a family of 4, including him. He is the sole breadwinner for the family that consists of his partner and his two kids. He realised that the kids are…
Mahesh, aged 35 years, an unmarried NRI, staying in the UK for 5 years. He was hale and healthy but lost his life in a terrible accident in the UK, on an unfortunate day. His p…
For many of us, keeping our family happy and healthy is our main priority. Unfortunately, there are some things we can’t predict. Accidents, health issues or long-term illnesse…
Traditionally in India, it has been the male member who opts for life insurance as the sole breadwinner for the family. However, with more women joining the workforce and more …
We usually call up our insurance agent to buy or renew an insurance plans. The agent gives us a quote for the insurance plan; however, someone else you know paid a different am…
As a child, Nitin’s parents had always put his comfort before their own. While not very educated themselves, they had ensured that enough money had been saved for his education…
Life is full of uncertainties, and we have no way of knowing what’s in store for us tomorrow. Uncertainties together? You should prepare for the contingency from day one (at le…
Being the sole breadwinner of his family, Abhishek wanted to purchase a life insurance policy so that his family had financial security, if he was not around. Many times, he co…
Sunil is in his late 20s and has recently been promoted to a higher position in his company. However, in the next five years or so, he wa…
Ramesh took a term plan which did not need a medical check-up. However, when his terminal illness took the better of him, the insurance company refused the claim and he was lef…
A term insurance policy provides your family with a safeguard against the uncertainty that surrounds life. It lets you take care of your family - even in your abs…
When we buy a product or hire a service, we are looking at fulfilling a need, want or a desire. To put it in other words, through the benefits of a product or a service, we wan…
Gaurav, a 30-year-old graphic designer, had just received a big promotion and was chuffed about the bigger pay check he had received this month. In his four years of employment…
Millions of people die a sudden, unpredictable death every year due to accidents, diseases or calamities. The death of a bread-earning member can have a huge financial impact o…
Sudesh and his wife recently had a baby girl. After this news, they were both brimming with joy. They organised a get together of family and friends a few months later to celeb…
Follow up with your insurance company or advisor if you do not receive your policy within 15 days of completing and submitting the application.
Being the sole breadwinner of his family, Kartar Singh, aged 35, wanted to safeguard his family from any financial peril in the case of any unfortunate eventuality. He wanted a…
It is important to protect your life insurance policy from any unscrupulous/unauthorised elements posing as company representatives. Here are a few do's and don'ts that will gui…
Five years ago, 35-year old Satwik availed a home loan of Rs. 50 lakhs for a loan tenure of 20 years. He is self-employed and runs a successful battery business. Given the risk…
The insurance industry has grown significantly over the years. According to a July 2019 report, the gross premiums in India reached Rs 5.53 trillion (US$ 94.48 billion) in FY18…
No matter how old you are, you always run to their mother or grandmother and ask her to make the magical mixture of kaadha when they have a cold, cough, or any other small ailm…
When you start planning your financial future and begin evaluating investment opportunities, you will have access to a host of products to choose from. You will likely chart ou…
The period of an insurance policy is generally based on the goals that the policy is purchased to achieve. The question ‘can you surrender a term life insurance policy’ often p…
India still lags far behind in providing adequate life insurance protection to its citizens. Life insurance penetration, which is new business premium for the year calculated a…
Cardiovascular diseases killed nearly 2.8 million Indians in 2016. The incidence of death due to heart ailments has doubled from 1.3 million in 1990. Cancer, another critical i…
The incident of Sheetal’s mother passing away had shaken the entire family on a fundamental level. Thankfully, there had been no financial setback since the insurer had settled…
Raghu, a resident of Canada, wanted to purchase a term insurance plan in India to secure the financial requirements of his family in case of any eventualities. But being an NRI…
Many people feel that buying insurance can burn a hole in their pockets. It is not surprising then that insurance penetration in India is the lowest among several countries at …
Mrs Sen likes staying at home and taking care of the family. She is a housewife, a homemaker. She takes pleasure in making sure that everything is in order — the kids and their…
Rajesh and Akash were colleagues and Rajesh was trying to explain Akash how term life insurance was absolutely necessary for a salaried person starting a family. Akash, however…
Mr Verma was a diabetic in his 60s and had also been on medicines for high blood pressure. Both his sons were settled abroad. Off late, he had been constantly worried about the…
Kesavan, a non-smoker, is 60 years old and he has purchased a term insurance policy cover of Rs. 50 lakhs at a yearly premium of Rs.5000 for a 20-year tenure when he was 40. He…
Tony, who is 35 years old, bought a 30-year pure term life insurance policy. He pays an annual premium of Rs. 12000. He ends up paying Rs.3,60,000 over the duration of the poli…
Ankit was 25 years of age when he heard about term insurance. So, he asked his father one day, “What is term insurance ?” His father had no clue. It was the year 2000 and the I…
For a generation that has grown up on a steady diet of Hollywood movies, ‘13 Going on 30’ rings a bell. The rom com centres on 13-year-old Jenna Rink who wants to be “thirty an…
In India, most individuals start thinking about term insurance, only when they get married or have children. In short, we believe that buying term insurance is something marrie…
Usually, parents buy term plans to safeguard their children's future. However, there is no hard and fast rule for the reverse cover. Even children can buy term plans to secure …
Neel’s first encounter with death was at the age of 15, when his favourite uncle passed away. The whole family was miserable but nobody more so than his wife and two young chil…
A Unit Linked Insurance plan performs the dual functions of protection with insurance, and wealth creation through investment in the long run. A ULIP scheme diverts your premium in…
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As the name suggests, group insurance is designed to cover a defined group of people. These people are usually employees of an organisation, members of an associa…
When an individual is not financially trained, handling a large sum of money to the tune of Rs. 25 lakhs to Rs. 1 crore or more can be overwhelming. Imagine a scenario. Deepak,…
Term insurance is a kind of life insurance policy that provides coverage for a limited duration, or a particular ‘term’ period. If the policy holder die…
“Financial Security Against Life’s Uncertainties. Peace of Mind. Funding Financial Goals.”
While purchasing a term insurance policy, we often talk about its value in terms of t…
As you know, term insurance is the cheapest form of insurance that offers pure protection to its policyholder. All the premiums paid by you go towards the cost of insurance. It…
A pure term insurance plan is a traditional life insurance product that provides financial coverage to an insured’s family in the event of his death. The tenure of these polici…
Your love for your family knows no bounds - but money does. You wouldn’t want money to become a reason for your family’s plight in the unfortunate event of your untimely demise…
The Resurgence of ULIPs:
Unit-Linked Insurance Plans (ULIPs) have been in the news ever since the Budget re-introduced Long-Term Capital Gains (LTCG) tax on equity investments.…
Riders are the optional, additional benefits that you can add to your term life insurance plan, over and above the basic insurance coverage. They add on to your premium, but al…
With the rising costs of living, ever-increasing medical inflation and higher life expectancy, it has become imperative that you plan for the post-retir…
One of the founding principles of insurance companies is to provide financial security to the insured individuals in the time of need. When someone purchases an insurance polic…
Being an optimist is great—better than being a pessimist! But it pays to be prepared for every eventuality, even if you're sure everything will be fine.
So maybe it’s better to…
The diagnosis of a terminal illness can have a debilitating impact on an individual's family and life, not to mention the toll regular hospital visits, doctors treatments, medi…
At what age should one reasonably get a life insurance policy? Your neighbour may already have a life insurance policy, even though he is only 24 years old. You might decide to…
Are you a habitual or chain smoker? If yes, then you should know that the puff of smoke is not the only thing thinning as you inhale nicotine wrapped in cigarettes. Your finances …
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A Unit Linked Insurance Plan, or ULIP for short, is a financial instrument which performs the dual functions of insurance and investment w…
Term insurances come with affordable premium rates and provide financial protection to the family of the insured, in case of any eventuality. A lump sum death benefit is paid t…
Understanding the definitive types of deaths covered by insurance companies is crucial when opting for a particular plan or rider. We should make particular note of the type of…
Indians have very low regard about life insurance and term insurance in general. Perhaps this is the reason why life insurance coverage in India is just 25%. 988 million Indian…
Most people believe that regular health check-ups are only essential for people already diagnosed with an illness. But this is a huge misconception. Sometimes, a critical illne…
Your family is one of the most important part of your life. All the effort and wealth we build over time is for the family to have a good lifestyle and have a stable future. By…
Devendra had purchased a term insurance plan worth Rs 50 lakh when he started a job. But over the years, he settled down, got married, and now has two children. Now he felt tha…
Festivals are a time to come together and celebrate. As a child, we all loved festivals because they always led to gifts. The excitement of tearing the wrapping paper off was u…
Often, people ask why buy life insurance, does insurance only provide money after demise of the life insured, and why buy one when they are so healthy that they might not get the …
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Unit Linked Insurance Plans or ULIP offer dual benefit of life insurance and market-linked returns, in a single investment. Investing in ULIP give you the flexibility of premiu…
Imagine an insurance product that works as an investment tool and gives you better returns than traditional insurance plans while helping you save tax under section 80D and sectio…
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A decision regarding which insurance company to go with is ultimately a matter of Trust.
The insurance company you choose plays a significant role in protecting your family's fina…
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