Most employers provide Group Insurance Plans to their employees, especially senior or more valuable ones. So, many of us might be covered under Group Term Plans, as well. However, we might not have much knowledge of how they work and the benefits available under these plans. Here’s a quick roundup of the nuances and benefits […]
Articles Tagged: Group Term Insurance
What is covered in a Term Insurance Policy?
A term insurance policy is the simplest and most inexpensive form of life insurance available to an individual’s life. Under this policy, the insurer promises to pay a large sum assured amount to the nominee of the insured individual, in case the insured dies within the policy term. There are many benefits of the term […]
New rules benefit insurance nominees
Published in Mint on Apr 26 2015 As a financial product, a life insurance policy is the most meaningful for your dependants as it promises to protect them financially in the event of your death. Therefore, when you buy a life insurance policy, it is important to mention a nominee who will be entitled to […]
Most term insurance policies do not offer surrender value
Published in Mint on 26 May 2015, Written by Abhishek Bondia How should one decide the tenor of a life insurance policy? —Deepti Kumar The tenor of a life insurance policy should be based on the underlying goal. For instance, in case of a term insurance plan, the goal is to replace income flow. So, […]
One may buy term insurance along with a home loan
Published in Mint on 23 June 2015, Written by Abhishek Bondia What is a free look period? Why is it important? —Bhargav In a free look period, a policy can be canceled without penalties. Typical premature withdrawal or surrender charges associated with life insurance are not applied during the free look period. When a policy […]