Insurance

Life Insurance

Life insurance is nothing but, "Insured your life". L"IF"E is full of IF's... and one needs to plan to secure their loved ones and themselves against the Ifs of Life. When you opt for a life insurance plan, you transfer your family's financial risks in case of any unfortunate event to the life insurer. This allows you and your loved ones to live life fearlessly. Life Insurance protects your family's financial wellbeing from the consequences of living without an income.

TYPES OF LIFE INSURANCE

1. TERM LIFE INSURANCE : Term Life Insurance plans are designed for specified periods of years,say 10,15 or 20 years etc.These are the “cheapest plans” compared to other plans.Main disadvantage is,there is “no any survival benefit”.The policy holder gets the claim amount only when death is happens.
2. UNIT LINKED INSURANCE PLAN ( ULIP’S ) : Unit Linked Insurance plans(ULIPs) offers policyholder “life security plus investment opportunity”. Premium paid into this policy is bifurcated into two parts, “one for the purpose of Life insurance and another for the purpose of investment”. These policies are ‘linked’ to market products like mutual funds, bonds, stocks, etc.
3. ENDOWMENT PLAN : Endowment Plan offers”life security plus survival benefit”.The main advantage of this plan is “policy holder gets assured & lumpsum amount at maturity”.
4. WHOLE LIFE POLICY : Whole life policy offers protection for the “entire lifetime” of an individual. Certain insurers can have an upper age limit for maturity of policy. wherein a ”death benefit is provided to the nominee on demise of the policyholder”. If there is a maturity benefit associated with the plan, a maturity amount will be paid when the policyholder attains the upper age limit associated with the scheme.
5. ANNUITY / PENSION POLICY : annuity/pension plans can be used by individuals looking to “financially secure their retired life”.The amount collected in the form of premium and distributed.
6. MONEY BACK POLICY : to the policy holder.Insurer pays certain percentage of sum insured amount to the policy holder at regular intervals.For example,let’s say 20 years policy,the insurer pays 20% of sum assured amount after every 5 years and remaining 40% at maturity period.
7. CHILD INSURANCE POLICY : A child insurance policy is a combination of saving & investment plan,to fulfill their future financial dreams/goals. A child insurance policy allows you do invests since child’s born age to adult age.Some policies allows you to withdraw your savings at certain intervals.

Protect Your Loved Ones Against Uncertainty
Plan And Achieve Financial Goals
Save Tax Year On Year
Plan Your Retirement
Use Insurance As Your Inflation Shield
Secure Your Child’s Future

Health Insurance

“Without health, life is not life; it is only a state of languor and suffering; an image of death.” Rising healthcare costs and growing lifestyle diseases have necessitated the need for health insurance as a vital financial tool to address healthcare needs.

Health insurance works as a financial-protection tool against medical expenses. It usually provides either direct payment or reimbursement for expenses associated with illness, injuries and hospitalization, as detailed in the scope of the policy cover. The cost and range of protection provided by a health insurance policy depends on the insurer and the type of policy purchased by you. Some policies also cover pre and post hospitalization expenses.

HEALTH/MEDICAL INSURANCE

1. FAMILY FLOATERl HEALTH INSURANCE : Family Floater Health Insurance provides health cover for entire family members,under a single insurance policy.So,we need not take separate policies for individually.This provides the facilities as like individual insurance policy i.e. in-patient care, pre and post-hospitalisation etc.
2. SENIOR CITIZEN HEALTH INSURANCE : This plan specifically designed for the individuals over the age of 60 years.From that age medical expenses and health complications are increased.So,it’s good to take comprehensive health insurance plan to bear those medical expense.
3. CRITICAL ILLNESS HEALTH INSURANCE : Critical illness includes,diseases like heart disease, cancer, organ failure, major organ transplant, kidney disease, coma, etc.Thease diseases effects heavily on their health condition .If the policy holder should have to diagnose ,then receives an lumpsum payout.
4. PERSONAL ACCIDENTAL INSURANCE : Accidents are highly effects on our health and livelihood,because accidents effects on our physical and mental health.Major accidents could result death,permanent disability,temporary disability etc.

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