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      Critical Factors You Need to Know Before Opting For An Insurance Plan

      Thursday, August 10th, 2017 Amritesh 3 responses

      Individuals are spoilt for choice while opting for an Insurance Policy. We have many Insurers offering many Insurance plans with varied benefits and features. Many Insurers are offering policies at a very low premium to lure potential insurance buyers. Most often buyers get attracted to cheaper insurance plans ignoring various other factors that one should keep in mind while opting for an Insurance plan. Individuals should always keep an eye on the past record of the Insurer before opting for an Insurance Plan. One of the most important factors that one should keep in mind while buying an Insurance Plan is the credibility of the Insurer. There are various other factors that one should keep in mind while opting for…

      Life Insurance: Need And Types Of Policies

      Friday, July 14th, 2017 Amritesh one response

      Insurance is financial instrument which provides cover against any possible eventuality which may occur in the future. It is an undertaking between the insuring company/insurer and the insured/policyholder to provide guaranteed compensation in case of death, illness, accident, loss or any other type of coverage stated in the policy/Insurance agreement. The insurer charges a certain sum as premium for the cover provided. The premium needs to be paid periodically for the continuation of the policy/insurance agreement for the tenure agreed upon. The Insurance agreement includes all the minute details regarding the terms and condition of the policy, coverage and benefits provided, tenure and the premium required to be paid for the same. Need For Insurance Policy Life Insurance is very…

      Cashless, Critical Illness, Accident Insurance: Choice Of Health Insurance Plans For You

      Thursday, May 11th, 2017 Amritesh no responses

      Individuals contemplating to buy a Health Insurance must be confused as to which Policy they should avail for themselves and their dependents. The Insurance companies basically offer three types of Health Insurance namely Critical Illness, Mediclaim or Cashless Insurance and Accident Insurance. These Health Insurance policies are designed to provide financial coverage in case of any health related issue arises. Health Insurance is governed by the Insurance Regulatory Authority (IRDAI).   However all the three forms of Insurance provide Health cover but are distinctly different from each other. I have covered the above mentioned Insurance plans on my blog previously the links for the same has been provided below.   Accident Insurance Policy   Critical Illness Insurance   Mediclaim (Cashless)…

      Critical Illness Insurance

      Friday, April 28th, 2017 Amritesh no responses

      Critical Illness Insurance is a Health Insurance which covers your medical and hospitalization expenses to be incurred by providing a lumpsum amount in case of detection of any critical illness (covered in the insurance) based on the Illness and Insurance coverage. The Insurance Company examines the medical documents and history of an individual and after ascertaining the expenses related to the treatment provides a lumpsum to the individual to the extent of sum assured. These Insurance policies are offered mainly by Private Sector Companies. The terms and conditions of the policies varies from company to company and atleast 10-20 illness/disease are covered under the policy. Individuals have to be very careful while choosing a Critical Illness Insurance as they should…

      Life Insurance Plan: Why is it not a good investment option?

      Tuesday, August 16th, 2016 Amritesh no responses

      In the past, I have highlighted the fact that Life Insurance plans are not the best investment option. However, Many Investors still prefer investing in Traditional Life Insurance Plans primarily due to the endowment/money back (Maturity cum Death Benefit) nature of the plans. It is the guaranteed maturity benefits and low risk involved which makes it popular investment product. Life Insurance as the name suggests is primarily designed to provide insured’s dependents with a financial protection incase of unfortunate event of former’s death. Traditional Insurance Plans provide death benefits as well as maturity proceeds on successful completion of tenure (subject to one occurring earlier) and hence are also known as Assurance Plans. In my opinion Pure Insurance policies like Term…

      Max Life Online Term Plan

      Thursday, July 21st, 2016 Amritesh one response

        “Financial Planning” is one of the most important aspects of planning for the future which is often ignored by individuals. Financial Planning not only helps one to manage savings efficiently but also allows the opportunity to bring financial stability for yourself and loved ones.The future can never be predicted; however one can always plan for the future. Thus, a Term Plan becomes very important for every Individual. It offers financial security to the dependents in the unfortunate event of one’s death. Term Insurance is a pure insurance plan offered at very reasonable rates. The individual has the liberty to choose a plan based on his/her projected future financial requirements. In this article, I will discuss the need for Term…

      BFSI Website – Which One is the Best?

      Sunday, July 17th, 2016 Amritesh one response

      The internet has made the world a smaller place. Most of us spend time on social media platforms and mobile apps. Calling, messaging, viewing content and shopping everything is done online.  Like every other product, even the BFSI sector has extended their services online. While banks were the first movers, insurance is not behind. The financial sector does not only provide services online but they have also optimised their websites and communication to cater to the needs of their audience. One such company is EdelweissTokio Life, they recently launched their new website. The news was trending on twitter at number one position.  The new website was appreciated by most people online.This instigated me to go and check out their website.…

      Exide Life Income Advantage Plan: Save, Earn and Be Insured

      Thursday, June 9th, 2016 Amritesh no responses

      Exide Life Income Advantage Plan is a customizable savings plan which offers you with Guaranteed Income and Insurance cover under the same plan. The plan primarily aims at providing additional income option to meet future financial requirements. It is a Traditional Participating Insurance Plan which will provide you with regular payouts in the latter half of the policy tenure while you need to pay the premium only during the 1st half of the policy tenure.It is an ideal plan for individuals who are looking for an Insurance cover along with an additional income to meet future goals such as Child Education expenses or to take better care of your loved ones. The Cost of Living is always on the rise…

      Claim Settlement Ratio Comparison: Life Insurance Companies

      Monday, April 25th, 2016 Amritesh no responses

      Claim Settlement Ratio is one of the benchmark which may be used to ascertain the kind of service one can expect from the Insurance companies operating in the market. Although Claim Settlement Ratio is not the only parameter on which an Insurer should be judged but it is one of the important aspect which should not be ignored. The recent changes to the Section 45 of IRDAI (Insurance Regulatory and Development Authority of India) rules has also clarified the concerns of the policyholders and provided a fair market for the Insurers as well as the Insured. However, this data is just related to Claim Settlement Record of the respective companies and does not necessarily mean that Company with the best…

      Edelweiss Tokio Life: Wealth Accumulation (Accelerated Cover ULIP)

      Wednesday, February 24th, 2016 Amritesh no responses

      Individuals are often confused when it comes to making an investment or choosing an insurance plan for themselves or their loved ones. Unit Linked Insurance Plans (ULIP) is designed to provide individuals with a combination of Insurance and Investment in a single plan. Thus, individuals have the satisfaction of having an investment as well as insurance cover. Classical Endowment Plans may provide you with Insurance cover but the Maturity returns are not that great as the investment is mainly in low yield bonds and debt funds. Thus, Unit Linked Insurance Plan (ULIP) was introduced which in a way is hybrid of Insurance Cover and Mutual Fund Investment. ULIP not only provides you with an insurance cover but also ensures that…