Tag Archive | "Life Insurance"

Securing the Nation With Life Insurance

  • Easypolicy
  • 07 Oct 2016

The atmosphere is intense in the wake of rising tension between India and Pakistan. Every day the news is coming about casualties from either side. Incidents like these take our attention to the undisputable fact that life is so unpredictable irrespective of whether you are a soldier at the border or a civilian. No matter who we are, we are very important for our family. Our family takes pride in our income, they feel protected in the assurance that we are there for them and our earnings are an essential source to maintain and nurture them. That is why it is important to have a financial backup so that even if something were to happen to you your family shall not struggle to pay bills and procure things.

Human life is very precious and any human endeavor cannot completely make good a loss of life but somehow we can manage the extremity of the distress to surviving members by getting appropriate life insurance cover. Life insurance is that type of insurance where Claim settlement is considered to be very simple and is devoid of any inspection by insurance surveyor. The peril or immediate cause of death is not that important. In every kind for death barring suicide in the first year of the Policy the claim would be settled provided it is a legitimate claim and no vital information was concealed from the company at the time of applying the policy.

The air in the country these days is filled with the euphoria of patriotism, as they say charity begins at home, so does security and solidity. Getting life cover would protect your family; a financially secured country can fight with more confidence and solidarity against foreign oppressors. Life insurance plans are very important that is why one gets tax rebates if one pays insurance Premium for them. The insurance structure in a country promotes its financial growth and Risk taking ability in the individuals. More awareness should be spread about insurance in the country so that people residing even in remote parts of the country are protected.

National security isn’t contained to defense against foreign aggression but its scope is very wide. A nation is secured when its denizen’s interests are protected. In order to attain solidity at the macro level measures should be taken to solidify the nation at the micro level. Other types of insurance generally excludes loss due to war or terrorist activity but life insurance pays even if death is occurred because the above two. Thus, it is very essential to have a life cover. How could you be a responsible citizen if you cannot even become a responsible family man? It is both in your and the nation’s interest for you to get a life cover. Hail to our great country India!!

How Good it is to Buy Life Insurance Online?

  • Easypolicy
  • 31 Aug 2016

People in India have traditionally a restricted interest in life insurance. The reason can be many for such selective keenness on having a life cover. However, the scenario is changing as awareness is spreading; people buying life insurance is on a continuous rise. The rise is the number of nuclear families can be a big reason why people are more interested into getting life insurance as an earning person in a nuclear family’s life is highly important for the rest of the members as he/she shoulders the expenditure of the house mostly handedly.

In plural families the immediate dependents of the dying person can still be taken care of to some extent. More changing times have shifted the psychology of community living away from our society. Thus, people know that there would be no one to look after the family behind his back. Thus, people prefer being self dependent, it is a good thing. Ne should never let his beloved family to be burden on someone else. Their honor and dignity would be protected if one takes ample measures to secure them financially against one’s untimely and unfortunate death. 

 The sudden growth in the usage of internet has also propelled mass awareness and more people are getting connected to this supreme source of knowledge. The exposure to internet has uplifted peoples thinking and planning process. It is because of internet that more people are getting to know about the importance of insurance by reading testimonies of people or videos of life management experts. Like other things insurance policies can also be compared, researched and bought online. With a click on the computer one can buy or renew insurance plans after effective comparison online. Online purchase often saves a lot of money also as no involvement of middlemen is there. Also, online plans offer more Coverage than their offline counterparts.

Comparing insurance plans on specialized insurance comparison websites and getting reviews on social platforms on the internet can help you select the best plan for you. While, comparing online there would be no pressure from anyone and thus, you can do your research independently and conveniently. There are many positives to go for online plans, however, the absence of an agent or advisor puts the complete onus on your to do your research thoroughly. Life insurance plans are there to protect the future of your family and thus, there shouldn’t be any scope of Lapse on your part. A substandard insurance product from a company with dubious reputation can be risky. Thus, you need to be sure that you can use the internet effectively and you know where to search and compare plans.

However, the online transactions are safe and well documented. A person who can read and understand well should be able to make a good purchase over the internet without any trouble. The processes are becoming more and more user friendly; increasing number of people buying insurance online is testimony to the fact that purchasing insurance online is safe and an upcoming trend.

Why Life Insurance is Necessary in Life?

  • Easypolicy
  • 30 Jun 2016

Life is highly unpredictable and wrapped in the fog of uncertainty. This uncertain life is loaded with so many responsibilities. Nobody has a control on one’s death nor can one predict it. Two of the biggest problems of life are dying early and living too long.  Death of an earning person with family to look after causes serious turbulence in the life of the family members. Thus, dying early without sufficient back up for family members is a seriously problem. Another very serious problem of life is living too long beyond your earning age. Old age without money is the most pathetic condition imaginable.

To solve these problems life insurance plays a very important role. The primary role of insurance plans is to provide immunity against financial losses arising from pre-defined perils (initial cause of loss) to a person. On the same principle the life insurance branch works. These plans are devised to check the financial impacts of the above mentioned problems.

To counter the impacts of the first plan i.e. dying too young the ideal product is Term insurance. A term insurance plan is a type of life insurance that protects the dependents of the policyholder from the financial burden arising from his death. With relatively a very small Premium the insurance company pays a good amount of money called sum Assured to the nominee if the Policyholder dies within the currency of the policy. With a premium as low as INR 10K a person can get a term policy carrying a Sum Assured of INR 1 crore. A term plan is a highly customizable plan depending on the company you buy it from. Many insurance companies offer a range of extra benefits called riders. The Riders have diverse range of benefits like double payout in case of accidental death, part payment of sum assured on contracting a critical disease etc.

Having the backing of term insurance your family is fortified against the financial consequences arising from your untimely death. As a term plan doesn’t pay anything on surviving the policy period some people have complaints with it. Among these people another life insurance product called TROP or Term with return of premium is very popular. This product has all the features of a term plan but for the fact that the insurance company returns all the premiums collected over the years on policyholder’s survival of the Policy term. A TROP plan is little costlier than a regular term plan.

For people who want to grow their money while giving financial protection to their family should go for Endowment plans. Endowments are life insurance plans that carry Maturity benefit i.e. the insurance company pays the sum assured even when the policyholder survives the policy period. Thus, in this plan you can enjoy the returns while you are alive.

To solve the second problem that is living too long one must have good investments. Life insurance provides ample investment opportunities with its investment plans like ULIPs. ULIP stands for Unit linked insurance plan. It is a product that along with providing a risk cover for the policyholder provides investment opportunities in qualified investments such as stocks, bonds or mutual funds. For people having a risk appetite should consider investing in ULIPs.

Another type of life insurance plans that are very useful for solving the problems faced because of living a long life are Pension plans. These plans facilitate savings in phases in the form of premiums paid to the life insurance company and in return the company pays monthly income on retirement called pensions. Having regular income post retirement is a very desirable position to be in. It makes you independent and keeps your dignity intact. With proper planning done in consultation with a life insurance expert one can even retire earlier than his colleges and enjoy the remaining years of life pursuing hobbies rather than toiling for money.

Life insurance plans are really necessary to live a happy life without worries. These plans are answer to many of your tax saving goals as well. Many tax deductions are applicable for people who invest in life insurance plans. They even help you save big amounts of money for future requirements like to fund the higher education or marriage of your children. There are specialized life plans to aid the aforementioned requirements called Child insurance plans. These plans are dedicated to accumulate a good amount of corpus to facilitate your child’s bright future.

Life insurance is a very big industry and a range of products are being sold under its umbrella that solves many problems of people. They provide benefits during life and helps in fulfilling your responsibilities even when you are no more. With life insurance plans you can ease the burden of your death on your family on one hand and lessen the burden of your old age on yourself on the other hand. While solving these problems you may also grow your money with lucrative investment plans of life insurance and earn passive money on your heard earned money.

It is an ideal situation when your money works for you rather that you work for money. With effective planning this is possible with life insurance plans. The fog of uncertainty is dense your effective planning are the rays of light that generate hope and alleviate fear from your life.

Life is not meant to be lived in anxieties rather it is meant to be enjoyed to the fullest. In order to live a blissful life one must have peace. Peace doesn’t dwell in the midst of insecurity. Consult your life insurance advisor and get your need analysis done. An ideal life insurance cover should have enough proceeds from the insurance company to pay off all your debts and leave enough for your family to live comfortably without compromising on their current standard of living. The family should not compromise on their dreams, that should be the though while deciding a life insurance cover.

These plans have big impact on the times to come in your life. With effective planning now you can make your future self proud of you. Let your family be indebted to you for your care and consideration.