Mr. Sharma, a working professional, purchased a term life insurance policy with adequate coverage. He diligently paid the premium for the first three years. However, a sudden medical emergency in the family disrupted his financial routine. Amid this chaos, he missed making a life insurance premium payment in the fourth year. Mr. Sharma thought he […]
Articles Tagged: life insurance policy
Can ITR Filings Impact Your Life Insurance Premium?
A life insurance policy is much more than a financial safety net for your family. It not only provides a financial cushion to the nominee in times of need but also benefits the life insured during the tenure. Along with the maturity/survival/death benefit, life insurance also offers tax benefits to the policyholder. So, not only […]
No loan facility with new Ulips but you may borrow against older policies
Published in Mint on Feb 27 2017, Written by Abhishek Bondia I have a unit-linked insurance plan (Ulip) that I had bought in 2009. I have a family situation where I need to help my brother to pay his son’s college fees. Can I borrow against this policy? Will it be of the same value […]
Borrower’s insurance is not mandatory. IRDAI does not require you to buy any insurance for loan purposes
Published in Mint on Sep 06 2016, Written by Abhishek Bondia What is covered in borrower’s insurance? I have read that it should cover accidents, critical illness, death and loss of job.What are the Insurance Regulatory and Development Authority of India (IRDAI) norms for this? If a bank grants home loan to a salaried person, […]
The simple insurance plan that is complex
Published in mint on 29th May, 2017. Insurance Regulatory and Development Authority of India (Irdai) has taken many steps to increase the distribution footprint of insurance products in India. And in order to get more feet on the street, the regulator has allowed the industry to make use of point of sales persons (PoSPs). PoSPs […]
How is life insurance premium calculated?
Published in Economic Times. The premium that you have to pay for a life insurance policy depends on various factors like age, total coverage (sum assured), your medical history, gender, lifestyle, and job. However, the premium for the same life insurance coverage amount will vary from insurer to insurer. What is life insurance and why […]