Insurance is an agreement wherein a third party provides the indemnity from certain pre-specified losses like damage, illness, death, theft, etc. Various insurance policies are available in our country, but three of them are more popular amongst others. These three types of insurances are Life Insurance, Term Insurance and Health Insurance. Three of them have their own benefits as well as limitations. Therefore, we must know about the basics of insurance before making a buying decision. Let us discuss about these three insurances in-depth to understand the perspective thoroughly: Life Insurance: The most purchased policy in the last couple of years by Indians is Life Insurance Policy which...
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Life cover provides financial protection to your family in case of contingencies. Insurers consider many factors before deciding a premium for you. While some factors are within your control, some aren’t. By prudently making your choices, you could get more value for your money. Following are the factors that could lower or increase your insurance premium amount: If you latch on to an insurance policy early in life, you lock-in at lower premium rates. That’s because, with higher age, the chances of a claim (due to death) also increase. Accordingly, the insurer increases the premium rates. For instance, a 30-year-old male pays an annual premium of Rs 10,648 for a life cover of Rs...
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This report from the publisher provides the strategists, marketers and senior management with the critical information they need to assess the global term life insurance market. The global term life insurance market reached a value of nearly $778.8 billion in 2019, having grown at a compound annual growth rate (CAGR) of 6.87% since 2015, and is expected to grow at a CAGR of 9.67% to nearly $1,126.6 billion by 2023. Also, the market is expected to grow to $1,353.0 billion in 2025 at a CAGR of 9.59% and to $2,217.9 billion in 2030 at a CAGR of 10.39%. This report describes and evaluates the global term life insurance market. It covers two five-year periods, one three-year period and one six-...
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Protection is one of the finest ways to mitigate the potential risks and challenges that may come across your financial portfolio. (Representative image, source: Getty Images) Coronavirus ( Covid-19 ) Insurance: When it comes to the COVID-19 pandemic that has infected over 5 million people across 215 countries, every day is a learning day – and that is because we scan the news for maximum information, we are all learning a great deal about how the virus behaves under different conditions, measures being taken to control the spread of the virus and how scientists continue to search for new drugs and vaccines. However, as investors, we have lessons to learn too – about how the stock markets...
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Who is SunLife? Recognizing that managing finances can be a complex and time-consuming exercise, Sun Life Financial helps clients plan for their day-to-day lives and the future with financial management advice. The company also focuses on what's most precious - life. Because financial health means physical health, Sun Life also aims to help you achieve your daily goals, whether it's climbing a mountain or teaching your children to take their first bike ride. The company offers a wide range of products and services to six million Canadians across the country: Financial advice and planning; Life, travel and health insurance products; Investments and savings products for...
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Life insurance is not a new term to any of us. We are quite aware of the life insurance policies, on how these help in safeguarding our family and us. These policies are insurance contracts that the policyholders make with the insurer to get financial support during an emergency. There are several reasons as to why having such policies are essential, but first, you need to understand what life insurance is. Life insurance is like an agreement between the insurer and insurance holder to financially cover the expenses of the policyholder’s family during an emergency. Many people understand the importance of having life insurance as they understand the need for financial support at the time of...
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It is often not easy to decide whether to opt for Permanent Life Insurance or Term Life Insurance. However, these choices are crucial and depend on the needs and requirement of the family. It is important to understand the difference between the two to make the right choice: Permanent Life Insurance means that the insurance will provide cover throughout his or her life, meaning the policy holder, for the chosen policy tenure, for example, till the age of 100 years. Such a policy offers dual feature of both death benefit and maturity benefit. The death benefit is payable to the beneficiary of the policy after the death of the policy holder and the maturity benefit is paid after the maturity...
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The e-Term plan has two categories with respect to premium amounts: For Sum Assured upto Rs. 49 lakhs Aggregate category rates only would apply. Below Rs. 49 lakhs cover value all policyholders, irrespective of whether they are smokers or non-smokers, have to pay the aggregate premium rates. For Sum Assured Rs. 50 lakhs and above there is an option to choose the differential premium rate for Non-smoker category. However, in order to qualify for non-smoker category, policy proposers have to clear the prescribed Urinary Cotinine tests. Non Smokers; as they have a higher possibility of enjoying long life, that makes them a low-risk seeker. Females are eligible for lower premiums than male...
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You have successfully scheduled your medical check-up. Now upload your documents.. We have sent the details to your email and mobile via SMS. Congratulations! You have successfully paid your premium of Your proposal will be processed within 2 weeks, subject to submission of all required documents and completion of medical tests (if applicable); we will share a copy of the medical report. An electronic copy of the policy will be shared on your shared e-mail id upon policy issuance. Please try again, Continue Where You Left journey. For any payment related queries, Basics About You Please enter a valid pincode It seems you are not eligible to avail Term Plan Insurance. Please check out...
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