However you look, you can never find life insurance in India for people under 18 years of age. The first rule in life insurance is that the policyholder must be over 18 years old to sign the contract. The existing workaround was to insure the parents and then pass on the death benefit of the…
This is the 3rd article on health insurance. I hope you have already read the earlier articles, if not take a look at them now. Today we are going to discuss an important feature called Unlimited Restoration. You might already be familiar with Sum Insured from our earlier articles, it is the maximum amount the…
There are many exciting features added to the new generation of health insurance. The competition among health insurance companies is catching up, and many are inventing new riders to stay relevant. We will discuss one such rider — SUPREME BONUS today. AI Generated Image If you have already taken a health insurance policy, you might be aware…
Currently, health insurance is not a mandatory product in India. With the rising cost of healthcare and the speed at which newer variants of diseases are identified — there is no way a common person can keep up by paying expenses from their pocket. Even a decently well-off household is just a bill away from bankruptcy. The…
Last week we discussed how important an insurance product is. We also discussed why term insurance is much better than an endowment plan, money-back scheme, or a Unit Linked Insurance Plan (ULIP). One of the reasons is that we are a better investor via the MF route. If you have not read that chapter yet,…
Nobody likes to buy an insurance plan, the concept of paying money to get nothing in return haunts us. The dislike for term insurance is real, I have personally seen clients asking for an endowment policy instead of term insurance. For starters, term insurance is when you pay a premium for life coverage, in the…
Today we will have a brief intro about my mobile app On the left navigation, you can find options for “All mutual Funds”, “Top Mutual Funds”, “NPS”, “FDs”, “Insurance” etc. When you click each of the links, the detailed plans available will display. Mutual Funds 2. Insurance 3. Fixed Deposits 4. NPS Finally, some important…
Suppose you have a house worth 1 crore and you have spent your entire life savings to build it. If something happens to this house — it may put your financial goals in trouble. In such a case what will you do? The answer is to insure your house against damages, natural calamities, and accidents. Insurance will…
P/E = share price/EPS (EPS we learned earlier — earnings per share) What it means in layman’s language is how much money you need to invest in a company to get Rs1 as returns if P/E = 20, it means if you invest Rs20 — that company will give you Re1 returns on investment If P/E = 40, it…
To calculate HLV, you have to divide your annual income by the 1 year FD rates. For example, if your annual income is 10 lakhs, and the FD rate is 7% then HLV = 10 lakhs/7% = 1.4285 crores. It means that your annual insurance coverage should be nothing less than 1.42 crores. In layman’s…
