While everyone complains of tricks played by insurance companies or its agent during the sale of life and health insurance plans, we do not hear (or at least I haven’t heard) about similar things during sale of motor insurance. Well, motor insurance has its own set of tricks. For instance, nobody wants to sell third party insurance. If you call customer care, they will … [Read more...] about You Do NOT have to rush to renew your car insurance by March 31
A Participating life insurance plan, as the name suggests, participates in the profits of the insurance company. So, if you hear about simple reversionary bonuses, final additional bonus, and loyalty additions, you are most likely looking at a participating plan. LIC New Jeevan Anand is a Participating, non-linked life insurance plan. Clearly, the benefits are not guaranteed … [Read more...] about PFP Primer: Participating and Non-Participating Life Insurance Policies
Recently, I watched an advertisement by a leading insurance company where the company offered to provide emotional counseling and financial planning services to the family member in the event of demise of the policy holder. You can watch the ad on Youtube. By the way, contrary to the impression you may get, the services do not come free of cost. Now, the pertinent … [Read more...] about If Insurance Companies were to offer Financial Planning?
I am not saying that you should not purchase health cover for your parents. You should. It is your responsibility to ensure quality health care for the family, including your parents. All I am saying is that you should purchase separate plan for them rather than including them in your family floater plan. I am aware that some of the plans are sold with the “added advantage” … [Read more...] about Do not include parents in your Family Floater Health Insurance Plan
Many of us realize the importance of adequate health coverage in our insurance portfolio. Without adequate health cover, a prolonged hospitalization can deplete your resources quickly and affect long term financial health. In this post, let’s look at some of the common myths surrounding health insurance plans. Some of the myths prevent us from purchasing a health plan in the … [Read more...] about Six Health Insurance Myths Debunked