Home Insurance

There is no such place in this world as HOME. Home is what all of us life for; for it consists of your family and their dreams.
Home, generally, constitutes of your life's biggest expenditure. Therefore, it becomes imperative to secure it against all possible threats.
By insuring your home with a home insurance policy, you can cover for theft, fire, earthquake, flood, riots etc. The above mentioned threats can bring significant losses / damages.

Protect yourself against them! Buy Home Insurance.



Life Insurance - Term Plan

The objective of life insurance is to provide financial security for your family after your demise. Life insurance is basically protection against the financial loss that would occur from the premature death of an insured. The beneficiary of the insured receives the proceeds and is therefore safeguarded from the financial impact of the death of the insured. It, therefore, become important to assess your financial situation and standard of living you want to maintain for your dependents or survivors, before finalizing the type / amount of the policy.

A term plan is a type of life insurance plan which pays the benefit only in case of the death of the policyholder. This is paid only in case the death happens within the period of the policy term.

Benefits of Term Insurance

  • Much lower premiums than any other type of life insurance
  • Adequate insurance ensures that family maintains standard of living even after the death of policyholder
  • Tax benefit, under Section 80C on the annual premium paid
  • By paying certain additional premium, the policyholders also have the choice to add riders such as accidental death, critical illness, disability etc.




Life Insurance - Endowment

The objective of life insurance is to provide financial security for your family after your demise. Life insurance is basically protection against the financial loss that would occur from the premature death of an insured. The beneficiary of the insured receives the proceeds and is therefore safeguarded from the financial impact of the death of the insured. It, therefore, becomes important to assess your financial situation and standard of living you want to maintain for your dependents or survivors, before finalizing the type / amount of the policy.

Endowment Policy is the traditional form of life insurance.

Endowment plan is a mix of investment and insurance. On maturity, the policyholder gets the sum assured (in most cases, along with certain bonus and other accruals), and in the unfortunate demise  of the policyholder, the nominee receives the death benefit.

Benefits of Endowment Insurance

  • Secure: The overall returns on such policies are lower, however, these are risk-free with respect to the sum assured.
  • Tax benefit: Tax benefit, under Section 80C on the annual premium paid
  • Additional benefits: By paying certain additional premium, the policyholders also have the choice to add accidental riders.
  • Premium flexibility: If the Policyholder stops payment of premiums after at least certain minimum years', then a free paid-up policy for a reduced sum assured can be secured subject to certain conditions.

 





ULIP

The objective of life insurance is to provide financial security for your family after your demise. Life insurance is basically protection against the financial loss that would occur from the premature death of an insured. The beneficiary of the insured receives the proceeds and is therefore safeguarded from the financial impact of the death of the insured. It, therefore, becomes important to assess your financial situation and standard of living you want to maintain for your dependents or survivors, before finalizing the type / amount of the policy.

ULIP is a life insurance product that combines dual aspects of insurance and investments. It provides risk protection for the policy holder as well as investment options to invest in stocks, debt etc.

Benefits of ULIP

  • ULIP can help in long term wealth creation
  • Flexibility to choose the type of fund (equity or debt or balanced) for investment based on risk appetite
  • Flexibility to change the type of fund during the course of the policy
  • Option to add risk rider and benefits
  • Tax benefit on the premium paid

 

Before buying a ULIP policy, one should always research on the costs levied by the insurance company. Further, ULIPs come with a lock in period; so these are generally considered to be longer term products.





Health Insurance

Health Insurance plans are an absolute necessity in today's times. Given the increase in cost of medical services and the fact that there has been an increase in types of diseases due to various reasons including lifestyle, these plans help the policy holder and the family members against unexpected medical emergencies.

Cost of health and hospitalization can significantly impact savings and standard of living of any family. A sound health insurance plan largely prevents you from such financial problems.

Benefits of a health insurance

  • Peace of mind
  • Shield against rising medical costs
  • A single policy can serve the medical related expenses for entire family
  • Ensuring that savings are not wiped off any medical costs
  • Allowing your family to continue living the standard of living
  • Cashless treatment ensures that cash is not required at the time of hospitalization
  • If premium is paid on time, the same policy can be used till old age
  • Tax benefit under section 80D

 





Travel Insurance

Travel Insurance is an insurance policy that primarily covers the policyholder against any travel / health related emergencies while travelling (especially abroad).

Such contingencies can be loss of checked baggage, cancellation of trip, falling sick, flight delay etc. While travelling all the focus should be on having fun or completing your business (if on official trip) and not on problems, especially in a foreign land.

Benefits of travel insurance

  • Travel Insurance policies provide compensation for any delays (flight, trip), when travelers make longer trips abroad
  • Travel Insurance policies also compensate for trip cancellations
  • Medical emergencies such as hospitalization etc. are covered under travel insurance
  • Insurance against any loss of checked baggage, passport, theft etc.




Car Insurance

Car Insurance is necessary for any car owner to protect their vehicle from any damages / accidents / thefts. It is mandatory to have car insurance. The premium of your car insurance is dependent on various factors including make and model, registration city (metros are costlier), type of cover etc.

The major type of coverage's in car insurance includes:

  •  Third Party Liability Coverage: This type of coverage provides cover against any liability when you are at fault as a driver. It is mandatory coverage under Motor Vehicle Act.
  • Comprehensive Coverage: This cover is complete in nature and allows coverage for theft, damage, natural disasters, personal accident including third party liability. This is the best coverage and ideally should be purchased by the car owner. Other riders such as zero depreciation, engine protection, accessories cover can also be added.




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