We live in an uncertain world. Accidents and mishaps happen every day. Illness and natural disasters hit millions of people every year. Nobody knows what will happen tomorrow. This very UNCERTAINTY is the risk that you and me carry around with us. We cannot eradicate the RISK but we can try to cushion the FINANCIAL impact of the risk if at all it becomes a reality. This is where INSURANCE comes in the picture.
INSURANCE is grouped into two main types LIFE INSURANCE AND NON-LIFE INSURANCE.
LIFE INSURANCE should be purchased to protect the standard of living of our dependants in the event of our untimely death. But in India mostly life insurance is purchased as an investment device due to which the real purpose of life insurance gets defeated. Depending on your future goals and standard of living the life insurance risk cover which should be taken would come substantially high which cannot be covered if you go for a traditional investment endowment plan.
Term plan of a reputed company would be the best option in this case. Also choose your insurance advisor carefully as term plan would mature only on death of the policyholder so there should not be any problem in the insured money reaching the nominee after death of policyholder. In case of term plan if the initial policy form is not filled properly, problems can arise during death claims because the amount to be paid by a insurance company is higher in proportion to the premium collected.
Also ULIP’S have a big debate of whether they are good or bad. Most ULIP’s of reputed companies are always better than any traditional product in the long term. In the short term just because they are transparent in their charges they are always mauled in controversies. So we have designed two of our financial planning packages for decimating the ULIP’s so that you as a client are not in the dark while purchasing a ULIP plan.
IN CASE OF LIFE INSURANCE WE OFFER TWO SERVICES. YOU CAN CHOOSE EITHER OF THE SERVICE WHICH SUITS YOU BEST: |
