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Insurance Planning
Insurance is a basic form of risk management which provides protection against possible loss to life or physical assets. A person who seeks protection against such loss is termed as insured, and the company that promises to honour the claim, in case such loss is actually incurred by the insured, is termed as Insurer. In order to get the insurance, the insured is required to pay to the insurance company (i.e. the insurer) a certain amount, termed as premium, on a periodical basis (say monthly, quarterly, annually, or even one-time).
Life Insurance
Insurance against risk of loss to one's life is covered under Life Insurance. Life insurance is also known as long term insurance or life assurance. It includes Whole Life Assurance, Endowment Assurance, Assurances for Children, Term Assurance, Money Back Policy etc. To buy or get information on life insurance products offered by us, please click on the link above.
Insurance plans are must for a secure future. Mishaps can happen anywhere and anytime. Insurance plans comes to help in such cases.
Insurance planning is an important aspect of life for every working individual or family. Taking an insurance policy is important not just as a safeguard against unprecedented calamities. It also ensures the future financial well being of one's dependents.
YOU heard enough about why you should buy insurance. So you wake up one morning and decide to buy yours that day. And then, you realise, you have no clue where to begin. Well, how about here for a start.
Evaluate your life insurance needs
An extremely popular product, life insurance offers a lot more than just tax planning and investment returns. You are afforded the ability to plan for unforeseen events that could adversely affect your family's financial profile.
Factors to consider
Your financial profile and needs are different from your neighbour’s. The same holds true for your insurance needs. Your decision when going for insurance must revolve around the number of dependants and their financial needs.
Factors you should consider
• Wealth, income and expense levels of your dependants
• Significant foreseeable expenses
• Inheritance you would leave them
• Lifestyle you want to provide for them
Plan your insurance properly
Obviously the above factors don’t mean much unless they are quantified. A time-tested approach used by insurance and financial planners globally is the capital needs analysis method.
