Financial planning needs to begin at an early stage in life. It disciplines you into saving and building a secure financial future. However, you need to find the correct balance between insurance and investment when managing your finances.
Securing the future of your loved ones is the top.....
As breadwinners of the family, people truly prefer to have a peace of mind that in their absence, their families would be safe and well looked after. This desire is made possible for people by availing a term insurance policy. In essence, term insurance is a form of life insurance policy that pro.....
Short-term goals like home repairs and improvements require funds that can be made available in the near future. Certain investment options are perfectly suited to meet these requirements, since they allow the invested amount to grow reasonably over a short period of time. Briefly explained below.....
Chapter VIA in the Income Tax Act is one of the most useful sections of the law, since it contains several provisions that allow taxpayers to enjoy several tax benefits. Section 80CCC, which is a part of chapter VIA of the Act, is one such provision that gives individuals some much-needed relief .....
A sound financial plan has a perfect blend of insurance and investment. When it comes to insurance, many people prefer opting for life insurance or term insurance plans available in the market. But it is easy to get confused between these two policies, mainly because both serve the same purpose –.....
It is easy to get confused between term and life insurance policies as both of them essentially serve the same purpose of safeguarding you and your family against any untoward turn of events in life. The important distinguishers between universal life insurance and a term insurance policy are rel.....
Aam Aadmi Bima Yojana (AABY scheme) is a government-funded scheme introduced to provide financial assistance to people belonging to the economically weaker section of society. Since these parts of the population face financial hardships, the added pressure of a medical emer.....
Life insurance plans are term plans which can be brought by people to secure the financial needs of their family members in case of their sudden demise. A term insurance plan is a simple and steady way to save money for your family, especially if you are the sole brea.....
Filing for taxes and still figuring out how to save some money. Medical bills and expenses not helping in tax exemption? Ever thought about getting a term insurance policy? Term insurance is a financial instrument that offers tax benefits to its policyholders. Term insuranc.....
Individuals and Hindu Undivided Family organisations (HUFs) can claim term insurance tax benefits on premiums. It can be done by asking for a deduction on the paid premium of the insurance policy.
Pradhan Mantri Jeevan Jyoti Beema Yojna is a life insurance plan specially designed for underprivileged families in India. Any Indian citizen that falls in the age category of 18 to 50 years and with an active savings account can avail o.....
Term insurance plans are the most affordable kind of life insurance policy. The life cover offered is valid for a specified period, known as the policy term. In case the insured person passes away during the policy term, the insurer pays out the financial benefits due under.....
Opting for an insurance plan has become crucial for better financial planning, keeping future uncertainties in mind. Nowadays, people opt for term insurance policies to protect their family's future in their absence. Usually, term insurance plans give financial security to a single person. Howeve.....
The contract of term insurance makes it legally binding for the issuer of the policy to make good their promise of the payment of the sum assured upon the death of the policyholder within the term of the policy. Therefore, before issuing a term insurance policy, insurers need to ascertain the med.....
Did you know that one of the eligibility criteria for term insurance plans is your age? Yes, term plans have specific criteria for the minimum and maximum ages of entry for prospective policyholders. Although the term insurance age limit varies from one plan to another, it is generally between 18.....
Term insurance plans also have some exclusions. Although the specific exclusions in a particular term plan depend upon a variety of factors, including the term insurance entry age limit, there are some general exclusions that apply to a majorit.....
If you are looking to keep yourself covered against various types of dangerous cancers, you can follow the given steps to buy cancer insurance:
Step 1: Visit your preferred health insurance provider’s website.
Medical treatment costs have risen unchecked over the past few years in India. If you or someone in your family contracts a life-threatening critical illness, it may end up depleting all of your life savings. If the medical bills are astronom.....
Having sufficient savings and investments, along with adequate insurance, makes up for a sound financial plan. With the plethora of insurance instruments available in the market, choosing the right one can be a daunting task.
Every insurance product has its pros and cons, but the purpose .....
The Government of India has initiated several schemes to provide basic healthcare facilities to people across the country. The Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) are two such schemes established by the government to provide immediate r.....
A term insurance plan is an ideal way to ensure that your loved ones don’t struggle financially in your absence. In the event of the term insurance policyholder’s death, the insurance provider makes a lump sum payment to the family of the deceased.
Th.....
Difference Between Health Insurance and Term Insurance
Getting a term insurance plan is the most efficient way to ensure that your family stays protected even in your absence. The lump-sum payout that your family receives from the term insurance provider can be utilized by them to cover their living expenses and to take care of.....
The main aim of individuals, especially those who are responsible members of a family setup, is to ensure that their dependents are secure in the event that any unforeseen circumstance occurs. Typically, in several Indian homes, there is a concept of patriarchy that s.....
One of the best ways to secure the financial future of your loved ones is by getting a term insurance plan. A term plan is the most feasible life insurance product that offers a lump sum benefit to your dependents after your unfortunate .....
Starting a family is a huge responsibility. You now have to consider yours and your family’s life aspirations when setting future financial goals. As parents, it becomes your responsibility to secure the future of your child. It may be in terms of ensuring that they get a good education, ha.....
Leading a healthy life is like a blessing in today’s time. However, it is always a wise decision to have adequate insurance to help your family take care of the finances if you were to get inflicted with a life-threatening dise.....
Term insurance plans are the simplest kinds of life insurance. They offer death benefits in case of the policyholder’s demise. Since they are pure life covers, they are the most affordable kind of life insurance too. But before you buy a term insurance plan, there are many .....
Studies have shown that uncertainty about one’s financial situation is one of the leading causes of stress in a person’s life. Term insurance is a popular financial instrument that can address these fears while securing the financial future of your loved ones.
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Public employees have several government-backed insurance options available to them. One such scheme is the Postal Life Insurance (PLI) scheme. The Postal Life Insurance, or PLI, scheme is an insurance policy established in 1884 and is currently managed by the Department of Posts under the Govern.....
Postal Life Insurance (PLI) scheme is one of the several government-backed insurance schemes. It is an insurance policy managed by the Department of Posts under the Government of India. PIL was launched in 1884. It aims to ensure the welfare of the employees of var.....
In recent years, the demand for pocket-friendly and no-frills life insurance policies has increased substantially. Keeping this in mind, in January 2021, the IRDAI (Insurance Regulatory and Development Authority of India) introduced a standardised insurance plan called the Saral Jeevan Bima Yojan.....
Did you know that you can purchase a joint term insurance plan for husband and wife and have both spouses covered under the ambit of the same plan? Yes, a joint term plan for couples is a comprehensive financial product that can provide a life insurance cover to you and your spouse.
Life is unpredictable. We cannot foresee what happens next in our life. It is always better to be prepared for all kinds of emergencies. Have you ever thought of your loved ones’ future if something happens to you? Your love and care can pertain even if you are not around. You can protect your fa.....
In modern times, life insurance has become an important financial tool to protect your family. With time, people have started recognising the importance of buying life insurance in order to create a financial safety net for their loved ones in case of th.....
Group term insurance is the plan that you can take to secure your loved one’s future as it provides financial assistance to your partner in your absence. Being a salaried individual, you will benefit from receiving this complimentary plan with your compensation package. In general, your organizat.....
Whole life insurance, also known as permanent life insurance, offers you coverage up to the age of 100 years. Such a risk cover safeguards your dependents from any unfortunate mishap for your entire lifetime. The insurance plan.....
Just like how wealth creation is an important aspect of your life, ensuring that your loved ones continue to stay protected financially even in your absence should also be a priority. But then, how do you ensure that? Through a term insurance plan, of course!
Usuall.....
Having a contingency plan in times of need is an absolute necessity. In your absence, your family should still be able to sustain a financially healthy and secure lifestyle. However, the sudden loss of income resulting from your demise can take a toll on your family’s financial well-being. This i.....
A term life insurance policy provides coverage to the family members in the event of your unfortunate death. To make sure your loved ones stay safe and their life does not come to a standstill even after you are gone, you should start a term life insurance policy. Out of all the term insurance pl.....
Purchasing term insurance is one of the best selfless acts you can do for your loved ones. This insurance cover offers financial security to your family even after your demise. It is a type of safety measure you take not for yourself but for the ones close to you. Though we avoid thinking about d.....
Every individual wants to ensure that their family is financially secure at all times. While life is full of surprises, it doesn’t necessarily have to be in your favour. A term life insurance plan provides financial security even when you are not around. A 20-year term life insurance policy enabl.....
The process of buying term insurance plans online has gained immense popularity in India in recent years, thanks to its great convenience and a wide range of plans to choose from. However, with the plenty of options available, sometimes it may also get confusing when looking for the best-suited t.....
Did you know? A few private companies offer group term life insurance to their employees as a part of their salary package. Though it’s a notable perk for every employee, ensuring if it suffices your financial needs is essential. Corporate term life cover entails limitations, and hence it can be .....