I bought a pure term insurance policy plan five years ago and have paid around ₹1.5 lakh as premium. Recently, I came to know about zero-cost term plans. Can I switch my current plan to zero-cost term plan so that I can get back my premium amount entirely? In simple terms, zero-cost term plans are a […]
All you wanted to know about Group Term Life Insurance
Group term life insurance is the term coverage offered to a group of people under a single umbrella policy. In the event something were to happen to the individual covered under this policy; then the sum assured will be paid out to the other beneficiaries. This benefit will be available for the pre-determined term offered […]
Group Term Insurance: Has the landscape changed post-Covid 19?
Covid-19 brought in unprecedented challenges, the group insurers also faced a new set of challenges. So, the industry was already stressed due to the increasing medical costs, reduced demands, severe competition for markets share, etc. The bouts of waves are indicative of repeated economic disruptions and pressure upon medical infrastructure. In fact, the industry has […]
What are the benefits of group term insurance?
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 […]
The importance of Group Life Insurance for a Business
Here is why every business should consider buying a group life insurance for its employees: Financial Protection Employee’s Dependents: The group life insurance plan offers financial protection to the family of the employee and helps them to be stress-free about their dependents’ financial future. Increased Productivity: A stress-free environment helps nurture creativity and employees may […]
What is the meaning of Life Insurance?
The meaning of Life Insurance means that it covers an individual and the individual takes it by themselves. The primary goal of this cover is to provide a measure of financial security to the policyholder’s family in case of the holder’s demise. Besides this, there may be several other riders and clauses added to the […]
What is the meaning of An Insurance?
The concept of insurance originates from the principle of sharing the risks by a large group to reduce the burden on the few. Insurance, in the realm of risk management techniques, embodies the concept of ‘Risk Transfer.’ Here, individuals or entities shift the burden of potential losses to an insurer. By doing so, they seek […]
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 […]
How to select the best Life Insurance Policy?
Looking to buy life insurance policy cover, there are a few critical variables that might help you narrow down the best choice. Here is a list of factors you should look for while searching for a life insurance policy. Claim Settlement Ratio The percentage of claims granted out of the total filed in the year. […]
Who Can Purchase Group Term Life Insurance?
The following types of groups can purchase group term life insurance on the lives of the group members: Employer-employee Consumer Groups Associations for their Members Non-Profit Organisations Other Self-interest groups formed for a purpose other than to avail a group of insurance An employer can purchase a group term life insurance policy for employee groups […]