Buying an Insurance without a medical test
Now-a- days it is common to see advertisements by life Insurance and general Insurance companies offering a life or health cover up to a certain age, usually 40 years or 45 years without a medical test. This is because such policies without the inconvenience of going through a comprehensive check up attract more potential clients who would think twice or forever postpone taking those which requires medicals to be done. This could be due to a variety of reasons-
What to do with an unwanted/orphaned/mis-sold/ lapsed insurance policy
It wouldn’t be surprising if most of us hold at least one of the above mentioned Insurance policies- and keep holding them just because we do not know what to do with them.
Things to keep in mind while buying home insurance
Continuing on the topic of home insurance (See prev. post – Why is it important to buy a home insurance) –
Why is it important to insure your home
It is every common man’s dream to own a house of his own, and when it happens it not only becomes one of the biggest investments in terms of money, but also one of the most prized possessions.
One can exit an endowment policy mid way too
In continuation with the case in the previous article, Ajit is now 35 years old, married with a small kid. His expenses, responsibilities and insurance and savings needs have all increased. Now, he is stuck with an endowment policy on which he has to pay regularly for the next 10 years, but which neither gives him the required insurance cover nor the required growth on investment. Ajit now knows the benefits of taking a pure term insurance and wants to take one for 25 lakhs for a term of 20 years which would cost him around Rs 10,000/- pa, but he doesn’t want to incur this expense in addition to the endowment policy premium.
Why endowment policies don’t multiply your wealth
Ajit is 35 years old now. When he started working at the age of 25, his father’s insurance agent had suggested that he take a good endowment insurance policy, as it would help him save taxes, provide insurance and also save money for the future. Since it made sense, Ajit did so and subscribed to an endowment policy for a term of 20 years, an insurance cover of Rs. 5 lakhs and an annual premium commitment of Rs. 25,000/-.
How to pay less on your Health Insurance cover
I am sure this post will grab many eyeballs because of its title – considering how price sensitive we Indians are :).
