• 25 OCT 2016

    Understanding Life Insurance

    If you ask any person whom you know about whether they know about life insurance, he will say yes. But if you ask that very same person whether he understands life insurance, chances are that he may try to convince you that he does even though he may not. Most people understand life insurance as an investment avenue like a fixed deposit or a tax-saving one. Far from this, the primary objective of life insurance is risk coverage. So, when you buy life insurance, you actually ensure that your family is protected financially after your demise. You pay premiums regularly and in return the insurer promise to pay a designated amount if the event for which you've covered yourself occurs.

    Death benefit

    If you, as a bread winner of the family meet with an unfortunate demise, you may leave behind a lot of costs and liabilities like education expenses of your children, outstanding home loans or just simply maintenance costs of living. Suddenly, your family may be faced with the scary prospect of having to cope with the financial burden of life after your demise. A life insurance policy will ensure that your family stays protected after your demise as the insurer will give your family a lump sum or monthly pay out. This is called as the death benefit & this is the primary goal why a person should buy an insurance policy in the first place.

    Along with this, as a secondary objective, a person can look at insurance as an avenue to build up some corpus that will serve as retirement income. Life insurance isn't designed as an investment as prima facie it won't give you short-term returns, say, in a year or so. For life insurance to give you returns or benefits, it is necessary that you stay invested for a longer period of time.  

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  • 13 OCT. 2017

    Get a Comprehensive Life Insurance Plan for Your Family this Diwali

    While tangible gifts form an important part of the rituals between parents and children for the festive season, some intangible gifts hold a deeper value.

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