Typically smokers pay higher life insurance premiums than non-smokers at the time of buying a term insurance. The main reason is the mortality rate of smokers is higher than for those who do not smoke. As the probability of dying from smoking-related causes is so predominant, life insurance companie... [More]

The main purpose of life insurance is to secure the income & lifestyle of your dependants and to pay off any liabilities if anything were to happen to you. If there is no one who depends on your financial support, you don’t need life insurance. If you have lots of assets that could be used... [More]

Life 2011 research study by Nielsen suggests more urban indians turning to life insurance for savings, with planned investment of over 50% of investible income [More]

The Insurance Regulatory and Development Authority of India (IRDA) has recently launched its Integrated Grievance Management System (IGMS). The framework is a step by the regulator towards making it easy for customer to escalate any unresolved complaints or issues to the regulator and also track its resolution status online. [More]

Once upon a time, Term Insurance and Pension plans were having an argument as to which one is more important to an individual. Needless to say, the debate went on till the cows came home and we still had no signs of a clear winner! That is because they both cover two opposite risks associated with our lives – one covers the risk of a life cut short by an untimely death while the other helps you protect your financial future in case you end up living way beyond your earning years. [More]

“My financial advisor is working very hard towards building a retirement plan… It involves my money and his retirement!” In the realm of astonishment, nothing comes closer to the norm that seemingly prevails in the buying behaviour related to financial products like insurance and... [More]

What is perhaps the most important document that should be considered before making a Unit Linked Insurance Plan (ULIP) purchase is also the most overlooked – a benefit illustration.It is mandatory for an insurance company or its licensed intermediary to generate and explain in detail an illustration of the unit linked product being sold to a customer. More importantly, every policy sold needs to have its benefit illustration signed by the customer as part of the proposal form documentation. This guideline was put in place by the Insurance Regulatory and Development Authority (IRDA) to ensure that customers get a detailed understanding of the product, its cost structures and benefits before taking a policy. [More]