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Understand how a ULIP calculator works
Unit Linked Insurance Plans, or ULIPs as they are popularly called, are the hottest selling life insurance plans in the market. The reason is quite simple. ULIPs offer insurance coverage as well as market-linked returns and therefore take care of two goals under the same plan. Individuals, therefore, aim to maximise their wealth through ULIPs.…
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Do you know the 3 Social Security Schemes introduced by the Government of India under Pradhan Mantri Jan Suraksha Scheme?
A larger section of the Indian population has been living without pension provisions and insurance coverage against illness and accident. After the huge success of the Pradhan Mantri Jan Dhan Yojana Scheme, the Indian Government has introduced three more social security schemes for citizens to protect old age, in times of illness and accidents. These…
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Do you know the exact difference between the sum assured and the sum insured?
Do you know the exact difference between the sum assured and the sum insured? When it comes to the concept of insurance, there are some technicalities which you should understand. These technicalities dictate the terms and conditions of the policy. Until and unless you understand the terms of the policy, understanding the policy benefits might…
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Life Insurance: Meaning, Benefits & How It Works
There is a big ‘if’ in the word ‘Life’ itself. The word ‘if’ represents all the challenges that life throws at you. Life is uncertain and the best way to deal with these uncertainties is to be prepared against them. One such uncertainty is death. While death is inevitable, premature death is uncertain and if…
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How to get a Loan against LIC policy?
The Life Insurance Corporation of India (LIC) is one of the leading life insurance companies in the insurance market. The company was formed in the year 1956, making it the oldest life insurance company in India. Being the oldest company, LIC has a huge customer base and a large market share. LIC India offers comprehensive…
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The Difference Between Term Insurance and Life Insurance
Life insurance is synonymous with financial protection. Life insurance plans compensate against the financial loss suffered in case of premature death. Moreover, the plans are designed in such a manner that they help in fulfilling your life goals effectively. For instance, there is a child insurance plan which helps you create a secured financial corpus…
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Surrender Value Definition Features Online Calculator
Table of Contents What is the surrender value? Surrender value in traditional insurance policies Types of the surrender value Surrender value in ULIP plans Life Policy Surrender value calculator Surrendering the life insurance policy Life insurance policies are long-term financial products. Besides pure protection plans, there are other products offered by insurance companies that come…
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What is an Insurance Premium?
Insurance is a means of availing financial protection against various risks. But the protection comes for a cost. Insurance companies pool the money from many insured individuals or entities and then use the pooled money for paying out the losses whenever an insured event takes place. The cost that you incur for availing the insurance…
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Senior Citizen Saving Scheme (SCSS)- Eligibility & Interest Rate
In today’s volatile market scenario, a falling rate of interest is a major matter of concern for senior citizen investor who seeks regular income. The senior citizen scheme introduced by the Government of India is the safest investment option offered to senior citizens. It is an ideal investment choice for people aged 60 years and…
