Life Insurance

9 Key Benefits of Having Life Insurance Policy | Benefits of Life Insurance

Last Updated: 12/02/2016 · By: Sunil Kumar

Insurance: By definition, insurance is a legal agreement between policy holder and insurance company; in which, one pays premiums (policy holder), and other pays (insurer) on the event of loss.

Importance of Insurance: Insurance plays a significant role in an individual’s life. It covers an individual against unforeseen events like; Life Insurance covers insured person against death, Health insurance provides coverage for medical expenses incurred in a hospital, Mortgage insurance provides cover for mortgages and loans taken by insured person etc; and insurance also protects individual’s family against financial crisis by giving financial support to them. Many people face a common phobia that what will happen to their family if they die? It is indeed that death is certain but the time of death is uncertain; insurance cannot stop the occurrence of death, but insurance can certainly protect your family against financial crisis upon your death.Continue Reading

Types of Insurance: Explaining Life, Non-life, and Re-insurance

Last Updated: 06/02/2016 · By: Sunil Kumar

In this day and age, you can find numerous insurance products in insurance marketplace. For an individual it would not be important to know, “what are the different types of insurance?” But for professionals like; financial advisors and insurance agents, it’s very important to know all the basics related to an insurance industry. It helps to build their self confidence level as well as it helps them to give professional advice to their customers. In this post, we will be discussing on fundamental types of insurance. Though, insurance market has grown up over the years but it’s still working under the same principles.

12 Precious Tips to Choose The Best Health Insurance Policy | Choose Best Health Insurance Policy in India

Last Updated: 24/01/2016 · By: Sunil Kumar

In today’s hassle and bustle, health insurance and life insurance are becoming necessities. These tools protect us from unexpected expenses of hospitalization due to an injury or illness. Health insurance reimburses you and your loved ones if something undesirable happens. Therefore, Health insurance is a best option when you’re looking to protect your loved ones against unforeseen health expenses. Usually, health insurance covers medical expenses incurred in a hospital for the treatment of an injury or illness; health insurance also provides financial support to insured’s loved ones, in case of insured person death. Undoubtedly, insured person’s family suffers from unbearable pain when they loose their loved one; but it also makes family members’ life harder. Therefore, a health insurance or life insurance gives you peace of mind that your family will not face financial crisis upon your death. All of us should buy a health insurance policy but with full awareness of what does your policy cover and doesn’t cover? Many people feel cheated when they can’t settle claims with their insurance companies. There are many medical conditions under which your insurance company will not pay you any claim; some of are permanent exclusions and some of are waiting period basis (Read: Health Insurance Exclusions: Medical Conditions Your Health Insurance Policy Doesn’t Cover).Continue Reading

Life Insurance: Different Types of Life Insurance Policies

Last Updated: 12/01/2016 · By: Sunil Kumar

In today’s uncertain world, Life insurance is becoming a necessity. By definition, Insurance is a legal agreement between two parties (Insured and Insurer); in which one party (insured or policy holder) agrees to pay premiums, and in return, another party (insurer) agrees pay certain amount of money on the event of loss. Now in this day and age, everyone should have an insurance policy because the probabilities of mishappenings have been increased due to today’s hustle and bustle.Continue Reading

10 Important Things to Consider Before Buying a Life Insurance Policy

Last Updated: 04/01/2016 · By: Sunil Kumar

Insurance is a risk management technique; that helps to reduce the risks of financial burden, in case of any mishappening. Insurance is also known as a risk transfer technique, in which you shift your economical losses to your insurance company by paying a fee called a premium. Insurance protects an individual against financial hardships due to unexpected events like; theft, illness, physical injury, damage to property etc. Actually, life insurance is a legal agreement between you and your insurance company; in which you have to pay premiums and in returns, your insurance company pays you a certain amount of money in the event of loss you insured. The amount of money that your insurer pays you or your nominee (on maturity or event of loss) depends upon the amount of protection you have purchased. Your family may face financial problems upon your death; but if you have purchased a life insurance policy then it might help your family to bear the immense loss. If you have dependents then you must have a life insurance policy.Continue Reading