LIC New Jeevan Anand, LIC New Jeevan Anand Policy
Categories
Bipin Ramachandran

What’s your return from LIC New Jeevan Anand policy?

The most popular of such endowment policies is a policy called the “LIC New Jeevan Anand”. It makes a simple, attractive proposition to its policyholders – pay a premium for ‘n’ number of years and get a fixed sum assured PLUS bonus at the end of this period. AND, when the policyholder dies post this period, the family will get the sum assured again. You benefit when you live and your family benefits when, eventually, you die!

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1 crore, 1 crore health policy, health insurance
Categories
Aarati Krishnan

Why you don’t need a Rs 1 crore health policy

Recent reports suggest that as many as 35% of health insurance buyers in recent times – mainly in their 30s and 40s – are buying Rs 1 crore health insurance plans, against just 5% who used to buy them earlier.

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claims settlement
Insurance
Aarati Krishnan

Health Insurance: Which insurers settle your claims the best

Have you ever wondered why health insurers in India keep their claims data a closely guarded secret, while life insurers advertise it? Life insurers prominently display their claims settlement ratios of 98% or 99%, but health insurance pitches are full of emotional testimonials on how ‘timely’ payouts saved the life of a near-and-dear one.

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claim rejection
Categories
Aarati Krishnan

Four excuses for health insurers to reject your claim

Today, many personal finance articles tell you that one of the biggest personal finance take-aways from Covid is that everyone ought to sign up for a generous health insurance cover. But they fail to include the statutory warning that must come with every such plug – “Don’t expect your hospital bills to be settled in full”.
Prompted by real-life experiences of many investors who had filed claims for Covid treatment, PrimeInvestor conducted a Twitter dipstick survey in the last week of May on the claims settlement experience of policyholders.

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Jeevan Akshay
Insurance
Aarati Krishnan

Prime Review: LIC Jeevan Akshay VII

LIC has launched Jeevan Akshay VII – the latest version of its popular immediate annuity plan. So should retirees looking for regular income go for it? Here’s an analysis of its pros and cons.

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Term Insurance FAQs
Insurance
Aarati Krishnan

Multiple policies? Covid concerns? Group cover? Term Insurance FAQs!

In our PrimeTime webinar on ‘Choosing the Right Term Insurance’ last Saturday, we received many thought-provoking questions from our subscribers and viewers that we could only partly address, given the paucity of time. Here’s a more detailed FAQ on term insurance based on your feedback during the webinar. Hope you find it useful!

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Guranteed returns
Insurance
Aarati Krishnan

Prime Review: HDFC Life Sanchay Plus

Advisors love to promote market-linked products, but guaranteed return products remain a big draw for Indian investors. Often the word ‘guarantee’ proves such a big lure that we don’t stop to check if the returns being guaranteed are better than the savings bank interest rate! When seen from a return perspective, there are very few guaranteed products from insurers that are worth considering for long-term investing.

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term insurance riders
Insurance
Aarati Krishnan

Do you need riders on your term insurance plan?

Apart from allowing you to structure your term insurance plan in different ways through options, life insurers also tempt you with another set of add-ons – riders. Riders allow you to cover additional risks to your income, for an extra premium added to your base term plan.

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Term insurance options
Insurance
Aarati Krishnan

What options should you choose in your term plan?

Pure term plans from life insurers are, at their core, very simple products. You pay regular premiums to the insurer during your working years. The insurer promises to pay your beneficiaries a lumpsum in the event of your untimely death. This may lead you to believe that buying a term insurance policy is a cakewalk.

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term insurance
Insurance
Aarati Krishnan

How we ranked term insurance plans

Life insurance must surely figure among the most misunderstood financial products in India. Some folks think of their insurance policy as an investment, others as a compulsory portfolio component and yet others as an estate planning vehicle.

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life insurance
Insurance
Aarati Krishnan

Who doesn’t need life insurance?

Most Indians harbour the notion that they cannot do without life insurance. One of the first ‘investment’ products that young Indians are encouraged to buy, on landing a job, is an insurance policy. But this is based on a flawed understanding of life insurance as a product. Life insurance isn’t designed to enrich someone on your death. Its primary purpose is to compensate your dependants for the loss of your income in the event of your untimely death. So yes, there are many categories of folks who simply don’t need to buy life insurance. Here are the main ones.

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term insurance calculator
Insurance
Aarati Krishnan

Until what age should your life insurance last?

When buying life insurance, most good advisors recommend that you go in for a pure term plan. A pure term plan is an insurance policy that offers life cover (with no investment component, bells or whistles – we’ll tell you why you don’t need those in a later article) for a specific ‘term’ or period of your life.

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