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What happens to Insurance Policies if the Policyholder Dies?
Insurance plans cover the different types of financial risks that you might face and compensate you for the financial loss that you suffer. You buy different types of insurance policies to avail a comprehensive scope of coverage against possible risks that you might face. Life insurance, health insurance and motor insurance plans are the most…
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A guide to LIC Pradhan Mantri Vaya Vandana Yojana
Having pension payments creates a source of income for senior citizens and gives them financial independence. Thus, the Government launched the Pradhan Mantri Vaya Vandana Yojana (PMVVY) which is a short term pension scheme for senior citizens. After launch, LIC was given the authority of selling these plans exclusively. Let’s have a look at what…
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Do you know about the extended date for life insurance premium payment?
The recent Coronavirus pandemic has brought about unprecedented changes in the economy. With the lockdown extending to prevent the spread of the virus and the emphasis on social distancing, businesses are finding out new ways of operating. Even the Insurance Regulatory and Development Authority of India (IRDAI) has been issuing new guidelines for the insurance…
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Information on medical tests for term insurance
A term insurance policy is the most basic form of insurance which covers the risk of premature death. The policy provides financial security to the family if the insured dies during the policy tenure. The policy allows the policyholder to afford a high sum assured because the premiums are low. This high sum assured, therefore,…
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Know all about eKYC for buying your Insurance policy during Lockdown
Ramesh was looking to buy insurance but with the lockdown, he was unable to meet his agent and buy the policy. Then he found out about online insurance plans and was delighted to know that he can easily buy an insurance policy with eKYC. You can too because now insurance plans are issued through eKYC.…
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Everything you need to know regarding IRDAI’s extension on life insurance premium payment
The recent Coronavirus pandemic has brought about unprecedented changes in the economy. With the lockdown extending to prevent the spread of the virus and the emphasis on social distancing, businesses are finding out new ways of operating. Even the Insurance Regulatory and Development Authority of India (IRDAI) has been issuing new guidelines for the insurance…
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The what, the why and the how of Term Insurance Plans
Ronit, 35-year-old MNC employee meets with a road accident while returning home from work. He suffered a head injury and died in the ambulance on the way to the hospital. His homemaker wife, son and elderly father were in deep shock. However, they did not have to face the financial challenge after this traumatising incident.…
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What Is Insurance all about?
Insurance is an ancient concept. The first form of insurance emerged to limit the loss of goods during inland transit by the Chinese and Babylonian traders. The concept evolved over time to become the modern business of providing protection against various risks. Now, the insurance industry is well established and still evolving with time and…
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ULIP vs. Mutual Funds – Where Should You Invest (Comparison)
When it comes to diversified market-linked investment avenues which promise attractive returns while at the same time diversifying risks, ULIPs and mutual funds are spoken in the same breath. Both these investment avenues invest your money in market-linked funds helping you to earn market-linked returns. But then the important question arises – which one is…
