Welcome to Insurance Plannings

Term insurance

Futures plans are the simplest form of life insurance. They provide live coverage with no savings/profits. They are the most affordable form of life insurance since premiums are cheaper compared to other life insurance plans.

Online life insurance policies offer pure threat coverage, which describes the lesser premiums. A fixed amount of money - the sum insured - is paid to the beneficiaries if the policyholder expires for the duration of the policy. If the policyholder survives, there is no refund.

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Endowment plans

Staffing plans differ from futures plans in an essential aspect, that is, a mature profit. Unlike the term plans that reimburse the insured amount, as well as profits, only in the event of a policy eventuality, the endowment funds provide for the insured amount in both scenarios: death and survival.

However, staffing plans require higher fees/expenses - reflected in premiums - to pay the insured amount, as well as profits, under either scenario: death or maturity.

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Unit linked insurance plans (ULIP)

ULIP is a variant of the traditional staffing plan. They pay the insured amount (or investment portfolio if higher) on the death/maturity.

ULIPs differ from traditional staffing plans in some regions. As the name suggests, ULIP's performance is market-related. Individuals can choose the allocation for investments in stock markets/debt. The value of the investment portfolio is accounted for by the net asset value (NAV). To this end, there are many similarities between ULIPs and mutual funds.

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Whole life policy

An entire life insurance policy covers an insurance policyholder during his or her lifetime. The main characteristic of a whole life policy is that the validity of the policy is not defined so that the individual enjoys life cover throughout his or her life.

The policyholder pays regular premiums until death, on which the corpus is paid to the family. The policy expires only in the event of a contingency, as there is no predefined policy regime.

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Money back policy

A refund policy is a variant of the endowment plan. It provides periodic payments during the policy period. To this end, part of the sum insured is paid at regular intervals.

If the policyholder survives the term, he gets the insured balance. In the event of death over the life of the policy, the beneficiary obtains the full insured sum. A wide range of portfolios.

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Retirement Planning

India's life expectancy has improved considerably over the years due to the availability of advanced medical facilities. However, a longer working life may not be possible due to disease events induced by aging and a high burn-out rate

The changing demographic balance with many young talents becoming continually available can also be a deterrent to longer working lives unless one is independent.

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Provide Post Retirement Income

A pension plan can be broadly divided into two phases: accumulation (early retirement) and distribution or consumption (after retirement). In the chart above *, we assume a 30-year-old child who plans to retire at age 60 and expects to live until age 80.

His phase of accumulation is between 30 and 60 years when he builds his corpus of retirement and the distribution phase is between 60 and 80 years when he destroys this corpus for his life. Pension plans guarantee that the distribution phase of your life is as comfortable as your winning years.

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Insurance as Inflation Shield

Inflation reduces the purchasing power of money and has a dramatic cumulative impact over the long term. It reduces our real income year after year because of our cost of living increases. So it has to be taken into account when developing financial targets.

Insurance products such as unit-linked strategies help us to contest the impact of the increase on our financial goals by proposing the option of investing injustice, which is known to carry the “one of the best earnings of all benefit classes over the long term. Decrease our savings based on the predictive value of future goals.

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Life Insurance for Future Goal Planning
  • Certainty

  • Once an objective has been identified and a value for it has been crystallized, an insurance policy is a great way to finance the goal. This is because we can be assured that, even in the unfortunate case of death or even serious illness, the insured sum will finance a future policyholder's objective.

  • Tax efficient

  • The maturity benefits of most insurance policies are exempt from tax under section 10 (10D) and the premium paid is eligible for deduction under section 80C of the Income Tax Act, 1961.

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