What is an insurance?
Life insurance may sound like something you only have to think abefits to buying life insurance early on in your working career. A lot of people go through their entire before understanding what life insurance .
In short Life Insurance is:Protection, Pension, Savings, and Investment.
Can I change the beneficiary on my insurance policy?
Changing the beneficiary on an insurance policy is a simple matter. All you need to do for this purpose is to contact your insurance company and follow its instructions for executing a change in beneficiary.
Can someone other than a relative be named as the beneficiary of my insurance policy?
Yes. Although it is typical for an individual to name his or her spouse, child, parent, or other close relatives as the insurance beneficiary, non-relatives, estate, trust, business partners, lender, or domestic partner can also be designated as beneficiary of your insurance policy.
Can the insurance policy be donated for charity?
Yes, you can donate your insurance policy for charity purpose.
I'm single. Do I need an insurance policy?
Single people often think they don't need insurance policy. However, there are many factors that determine your need for insurance. Life Insurance prepare you against happenings
Can I use insurance policy as a tool of financial planning ?
Most insurance plans available today come with the savings aspect. These policies allow you to meet your financial goals of protection against unforeseen future with extra Income tax benefits.
Tax benefits are available under Sec.80C, Sec.80CCC of the Income Tax Act.
What is the advantage of an Endowment Policy?
An Endowment Policy is a combination of savings along with protection against risk. These policies are specifically designed to accumulate wealth, and at the same time, cover the unforeseen future simultaneously.
What will happen to the policy if I miss premium payment on the due date?
Always try to be regular in premium payment. The insurance companies offer a grace period after the premium payment becomes overdue. If you fail to pay the premium within this grace period, your policy lapses.
Is there any penalty for late payment of premium?
Yes, there is. But, the amount is not that big.
What factors affect the amount of the premium?
It differs from policy to policy. In case of life insurance policies, your age is a vital factor.
How do I buy an insurance policy?
Now, there are many players in the Indian insurance sector. Due to the growing competition, these companies are trying their best to make their presence felt..So Always Contact your local IRDA Authorised Financial Consultant before Buying Life Insurance Policy.
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So Before You invest Consult Your Local Financial Consultant authorized by irda
who work To protect the interests of the policyholders.
Contact Authorised Financial Consultant(mumbai and Vasai)
+91 9823403494
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