This is the archive of all our articles related to life insurance
Buying a term life insurance policy based on an insurers claim settlement ratio (CSR) is a meaningless exercise. All it does is offer psychological comfort to the buyer who refuses to understand that each death, and therefore each claim settlement is unique. When a nominee applies for a claim, the insurers CSR is irrelevant. That…
Continue reading →A discussion on why one should not mix insurance and investment and buy pension plans, endowment plans, moneyback policies or even ULIPs. As far as regular freefincal readers are concerned this post is preaching to the choir. Most of you guys know and understand why insurance and investment should not be mixed. Annoucement: My second book, Gamechanger: Forget Start-ups,…
Continue reading →Here is a list of ‘action items’ for someone who has taken a term insurance policy. 1. Maintain a health record! Some take a term insurance policy with chronic illnesses. Some find out that they have a chronic illness (or is predisposed to one) when they take medical tests as part of the term policy…
Continue reading →I understand the need for life insuranceand I understand that it is best to buy a term life insurance policy. However, how much should I be insured for? When should I buy such policies? How many policies should I buy? I am sure you would agree that these are common enough questions … among those…
Continue reading →Rajesh Dalmia a certified financial planner and director of Mandar Learning Academy has authored an impressive do it yourself financial planning guide for investors to understand the basic features of insurance planning and goal-based investing. The guide has four excellent calculation charts that enable one to calculate Necessary life insurance cover Corpus’s needed for retirement,…
Continue reading →“Applying for term insurance? Be sure to be honest when you apply and disclose all relevant facts. Your (nominees) claim cannot be rejected” Does this advice sound familiar? I have offered it to others myself. The question is, is this advice correct? The answer is ‘Yes’ but … there is no guarantee that the claim…
Continue reading →Thanks to the untiring efforts of many personal finance bloggers, the message “Don’t mix insurance and investments” is spreading fast and creating awareness. The message is intended primarily for those who are thinking about buying a pension-plan, child-plan, ULIP, endowment plan etc. but have not yet done so. Unfortunately the message strikes fear and panic…
Continue reading →Download a free Insurance Policy Surrender Value Calculator (LIC) with Paid up comparison and decide what to do with your policy. “I just realized that I have junk insurance policies which won’t serve my financial goals! What should I do? Do I continue? Make them paid-up or do I surrender them?” Most of you will agree that…
Continue reading →Are you in your 20s, just starting out on a job? Are you married with no children yet? You want to buy a term insurance policy but confused about how much to get insured for? If you have said yes to any of the above questions, here is a simple insurance calculator that would suit…
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