Guaranteed Income or bonus- why this kind life insurance policies are bad?
Life Insurance companies use different kind of words to attract people so that they will buy plans from them. They use words like life insurance bonus, a terminal bonus in life insurance, life insurance with bonuses. In recent years they started plans which are offering guaranteed bonus policies to the policyholder. What Kind of Guaranteed return Plans that these companies are offering?… Companies sometimes offer some kind of plans with bonus till death. Example is LIC’s Jeevan Tarun policy. Example of Guaranteed bonus… A company is asking you to pay Rs.1,000 per year for 10 years, from 11th year to …
LIC of India(new jeevan anand) – Why these kind of polices are bad?
When we are about to take a Life Insurance Policy, then first LIC of India name comes into our mind. LIC of India is backed up by Government of India. Lic is offering so many varieties of plans. But some plans are not good for you at all. They will destroy your wealth.New Jeevan Anand policy is famous in LIC OF INDIA. Life Insurance will cover the risk of dying too early and risk of dying too late. Hench, Life Insurance Corporation if it covers above said two risks. But the real problem comes when it is trying to behave differently …
Insurance Planning -Why some times will fail in Life Insurance, Health insurance etc?
Sometimes Insurance planning will fail. People do take life insurance and health insurance etc to protect themselves from financial loss due to unexpected death or health issues etc. For this, they do Insurance Planning. Insurance planning also part of Financial Planning. Therefore, I have added this article in Financial Planning category. But sometimes this Insurance planning will fail. Recently I had a discussion with a Government Employee. He is working in Andhra Pradesh State Government. They have mandatory Department Life Insurance called APGLI. In the conversation, he said that If Life Insurance Policy of Lic or any private Life Insurance …
MWP ACT IN LIFE INSURANCE-Benefits? (Telugu)
1) MWP Act DEATH CLAIM BENEFIT : Death Claim Benefit will be paid to wife and children(Life Insurance Nominee) if the life insurance policy was taken under MWP ACT. 2) MWP ACT NOMINEE? In this act endorsed policies wife and children will be nominees. 3) Lenders right over Death Benefit? Lenders can not claim the claim in the courts according to this act lenders cannot claim the amount received from this kind policies. Watch youtube video which I made about this ACT. Also, click this link to read How to do investment planning with the claim amount received by Nominee …
Life Insurance Death Claim- How to invest this Death Claim Amount? (Telugu)
Term Life Insurance covers pure risk only. Term Life Insurance has no bonus and maturity. People are looking for pure risk only these days. A Lic Employee called me over the phone recently. She is a regular visitor of my Paisa Health youtube channel. The Reason is there is a LIfe Insurance Death claim in her family. For Nominee Investing Death claim amount not known… Also, Read the article about EPF nomination benefits and rules… click here to read. What is her need? : Recently her cousin’s son was dead. His age is 30 years. He has a mother and …
Life Insurance Planning- How much insurance you required under need-based method?
Life Insurance Planning is very important in Insurance Planning. There two methods that you can plan to take Life Insurance Policy. 1. Human Life Value or Income Replacement Method. 2. Need-based method. The life insurance coverage required you can calculate with any one of the methods. In the first place, you should know that life insurance and insurance should not be mixed(read this), and also term insurance is the only policy which is good to take in life insurance to protect dependants from financial loss. Soon I will write an article about the term life Insurance and its benefits. In addition, …
Human Life Value(hlv)- How to calculate in Life Insurance?(Telugu)
Life Insurance a must thing to every earning person in the family to protect their dependants in case of their absence. Moreover, Life Insurance protects Life Insured Dependants financially in his absence. There are a few methods available to calculate the amount of life Insurance needed. 1. Human Life Value Method or Income Replacement Method. Here, In this article, I will give an Excel template to Calculate Human Life Value(HLV) too. Read this article about LIC vs Postal Life Insurance. Click here to read. Need-Based Analysis or Expenses Replacement Method is another way to Calculate Life InsuranceRequirement. This method I will …
