Posted on September 05, 2017 10:32 AM IST
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Posted on September 05, 2017 10:32 AM IST
The transition from husband to father is the most significant life stage change for any man. From the moment, the new born arrives into the world, the spending begins. And as the kid grows up, expenses too rise. A sense of responsibility sinks in and parents begin to contemplate a savings mechanism for the child’s long-term needs such as education or marriage.
Life is short and one can never foretell what the future holds. To make sure that your family is financially secure even after you are gone, opt for a term insurance. A term plan helps you prepare for such uncertainties. One of the most cost-effective methods by which to mitigate risk, term insurance is popular primarily because it asks for low premiums yet the family of the deceased gets the entire amount.
Term life insurance has certain advantages and also some limitations when compared to other types of life insurance. Let us examine these in detail to understand in what kind of situations you should consider buying term.
Term Insurance is a pure risk transfer tool, and if there’s nobody who would get financially affected by the loss of your life, you don’t need it
You will be surprised how contradictory our logic can be when you read about buying of term insurance plans in our country! I bet there is hardly any earning spouse or parent who will deny the fact that they love their spouse, parents, siblings and children, and own up the responsibility to make sure they are all taken care of as long as required. But here is an analysis that will surprise you.
Health issues come unannounced. Healthcare accounts for a large amount of expenses in many households, and it is often unplanned. Healthcare services have evolved with time and continue to improve, but they have also become expensive. It is a good practice to secure your and your family’s health in the event of an unforeseen illness. This article helps you understand why you need a health cover, how and with whom to insure your entire family, and how to get health insurance in special circumstances.
Well, we cannot advise you about your character but we can surely tell you from what you just read that Health means something in our lives. Something that is more important than the money we earn. Something which if lost, can take some effort to regain. And sometimes, however hard you try, you may never regain it.
First of all, this topic is not a pleasant one to write on. And neither is it to read. While researching this topic, we came across some very painful facts, and some courageous stories of human grit to survive this dreaded disease. Cancer can cause immense pain to both the patient and her/his family’s finances. To address the risks associated with cancer, it is best we know if we are in the high-risk zone and if we are, stay protected at least financially, if not from the disease. A cancer insurance policy can make a huge difference to the financial burden that this disease can bring. Fortunately, and as you read on, you will also be surprised how affordable cancer insurance policies can be and why they are worth it for those who are high-risk.
IDV or Insured Declared Value is the market value of your car or bike/two-wheeler at a point in time. It is based on the manufacturer’s current listed selling price of the same model of the vehicle, and the age of the vehicle. A standard depreciation table for the vehicle is used for the calculation of IDV, and therefore the insurance premium when renewing car/bike insurance.
Stolen, damaged or lost baggage, misplaced passport, missed flight – there are hundreds of things that can go wrong when you are on an international or domestic trip. And it can become a bigger nightmare if the travel insurance company rejects your claim for some reason. Reasons for rejection can be varied – from as significant as exclusion of benefits to as frivolous as a human error such as mentioning a wrong date or age or date of travel.