Beware of mis-selling of Life Insurance.
We believe in and offer only pure Term Insurance as Life Insurance products. We do not advice /recommended investment oriented insurance plans as they tend to offer inferior returns and low financial planning merit.
Avoid falling prey to mis-selling of Insurance
Insurance should be the first step of every saver. You should get insured before you think of doing anything else financially. However, to do this correctly you will have to understand what insurance really is. “Life Insurance is a financial cover for a contingency linked with human life, like death, disability, accident, retirement etc”. This is the only definition of insurance. Hence only goal of Life Insurance is to provide you an arrangement by which a company will compensate your survivors if you die, in return for payment of a specified premium
Strangely Life Insurance has mostly been sold in India wealth creation tool. One can blame willful ignorance of IRDA, blame insurance companies to promote such products to enhance volumes/profits or may be investor themselves as they want quick solution by signing one page product. The basic principle of buying insurance should be to keep insurance and investment separate and buy only pure insurance (term insurance).
Term Insurance
Term insurance plans are the only type of insurance plans which are designed solely for protection purposes. A term insurance plan is the cheapest form of insurance available in the market today. Against the high levels of sum assured available, the premiums charged are extremely low and are easily affordable. No other plan of insurance promises such high levels of coverage at such low rates of premiums.
Given todays rate of inflation, the lifestyle expenses are rising progressively. In such a scenario, in the absence of the earning member, a substantial corpus is required to meet such lifestyle expenses of the family. Such a substantial corpus cannot be self-built immediately by a common middle-class individual and a term insurance plan finds application in these cases. By providing the promise of a lump sum corpus contingent on death, the plan takes care of the family’s financial stability in the absence of the bread-winner. Since the premiums are minimal, the plan can be considered as an investment for buying peace of mind regarding future financial security. Insurance companies lately have also launched return of premium term plans which promise a maturity benefit.
Annuity Plan: Provides Guaranteed Income – But Leaves No Flexibility
Annuities will help you save/park money for providing fixed retirement income. An annuity is basically an insurance contract in which you pay a financial institution a specific amount of money—either in a lump sum or a series of payments—and the company then invests your money and promises to pay you a regular income right away or in the future. With an "immediate" annuity, you can immediately start receiving payments. Deferred annuity enables you to receive payments after decided stipulated period. Annuities can be considered only in cases where after retirement one is not capable of managing his money.
Help us protect our valuable assets ,including our own health against any economic loss.
We specialize in providing general insurance advisory and risk management solution. Our goal is to help you buy the right & cost-effective non-life policy.
General insurance protects against the unforeseen losses and damages other than those covered by life insurance. Also known as non-life insurance, general insurance offers a gamut of insurance covers against eventualities such as illness, property damage, motor accidents, etc.
General Insurance Types :
Health Insurance : Hospitalization and medical emergency are tough to handle not only physically & mentally, but also financially. Moreover, due to a rise in lifestyle diseases and double-digit medical inflation in India every year, health insurance has become a necessity for every individual. The term ‘Health Insurance’ relates to a type of insurance that essentially covers your medical expenses in case of medical emergency, hospitalization, illness or accidents. Health insurance takes care of the expenses on medicines, ambulance, hospital room, medical tests and other costs involved. The plan can be taken for an individual or for your family as a Family Floater Health Insurance Plan. Premium of medical insurance keeps on changing hence it is critical to regularly review your policy.
Home/Property Insurance
Along with your home, property insurance protects the valuables and other assets against potential threats like burglary, theft, fire and natural disasters.
Motor Insurance
Motor insurance gives protection to the vehicle owner against (i). Damages to his/her vehicle and (ii) Pays for any Third Party Liability determined as per law against the owner of the vehicle. Third Party Insurance is a statutory requirement.. Driving a motor vehicle without insurance in a public place is a punishable offence in terms of the Motor Vehicles Act, 1988.
Travel Insurance
Travel insurance covers the insured against these misfortunes while traveling. Travel insurance can be taken to cover medical eventualities, and non-medical contingencies such as loss of baggage, trip delay and other incidental expenses.
Personal Accident Insurance
This policy provides compensation in the event of insured sustaining injuries, solely and directly from an accident
caused by violent, visible and external means, resulting into death or disablement be it temporary or permanent. It helps
you cope with the sudden financial burden caused from accident by providing financial protection
Group Accidental Insurance
It is generally taken by employer/company to protect their employees against accidents and can offer benefits like accidental death cover, disability cover, medical reimbursements, children’s education allowance and more.
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