In one of our previous posts, we had reviewed a traditional plan from HDFC Life Sanchay Plus. In this post, let’s look at another popular traditional plan, HDFC Life Super Income Plan. Traditional plans are opaque, provide low life cover and poor returns. Therefore, I do not hold a very high opinion of traditional life insurance plans. However, before writing off any … [Read more...] about Review: HDFC Life Super Income Plan: Makes sense?
Many people don’t trust insurance companies. You may pay the premium for many years but still can’t be sure if the insurance company will return the favour when you make a claim. This is a prominent reason why many choose not to purchase insurance despite being fully aware of the risks of staying uninsured. Insurance companies haven’t done themselves proud either. There is no … [Read more...] about Your Health Insurance claim won’t be rejected after 8 years
No parent wants to compromise on their child’s education. In fact, child education is one of the most prominent goals for almost all my clients. Many readers write with their queries about investing for their kids’ child education too. Many want a one-stop solution for their kids’ education. For this reason, many ask about the “Best Child plan” or the best child plan from … [Read more...] about Review: SBI Life Smart Champ Child Insurance Plan: Is it good enough?
ICICI Prudential Future Perfect is a traditional life insurance plan. A part of the maturity amount is guaranteed while the other part is variable and linked to the investment performance. In a way, it is a hybrid product where it retains some features of both non-participating and participating traditional plans. Let’s find out more about ICICI Prudential Future Perfect and … [Read more...] about Review: ICICI Prudential Future Perfect Plan: Not so perfect
LIC New Jeevan Nidhi (Plan 818) is a pension plan from LIC. You invest for a few years. At maturity, you utilize the accumulated funds to purchase an annuity plan. Simple, isn't it? Let’s find out more about LIC New Jeevan Nidhi and see if it warrants a place in your investment and insurance portfolio. LIC New Jeevan Nidhi: Key points Two premium payment options: Single … [Read more...] about Review: LIC New Jeevan Nidhi (818): Pension plan from LIC
HDFC Life Sanchay Plus is a Non-participating traditional life insurance plan. That means the payouts are guaranteed. There is no market risk or risk associated with varying annual bonuses. You know upfront what you are getting into. Moreover, it is a deferred payout plan i.e. maturity value is paid over a period of time. Let’s find out more about HDFC Life Sanchay Plus and … [Read more...] about Review: HDFC Life Sanchay Plus: The good and the bad
LIC has recently launched a new participating LIC Navjeevan plan in March 2019. It is a non-linked participating traditional life insurance plan. Regular readers will know that I am not a big fan of traditional life insurance. You get low life coverage and poor returns. By the way, this has nothing to do with LIC. Such plans from private insurers come with similar issues … [Read more...] about LIC NavJeevan Plan: Why the plan is structured this way?
In an earlier post on claim settlement ratio, I had delved into claims data of health insurance companies for FY2018. In this post, let’s look at the claims settlement ratio for the life insurance companies for FY2018. Understanding claims settlement data for life insurance companies is relatively easier since the insured event (death of the insured) is quite crisp. There … [Read more...] about Claims Settlement Ratio of Life Insurance Companies (FY2018)
While selecting an insurance plan, the first filter you apply is on the Claims settlement ratios. Lower the claim settlement for a company, the more you are likely to stay away from the company. IRDA came out with its annual report for FY2017-2018 in January 2019. In this post, let’s look at claims data of health insurance companies for FY2017-2018. Claims Data is presented … [Read more...] about Claims Settlement Data of Health Insurance Companies (FY2018): How to interpret?
Mis-selling is not just about selling bad products to the consumers. It is also about selling good products the wrong way. In a way, selling any product that is not suitable for the consumer/investor is tantamount is mis-selling. Selling a life insurance plan to an 80-year old who walked into the branch to open up a fixed deposit is mis-selling. Selling regular premium ULIPs … [Read more...] about LIC Jeevan Shanti: A case of mis-selling?