Insurance is a contract which provides protection against a possible eventuality or risk. So, insurance in its purest form is an expense rather than an investment. Broadly speaking, life insurance can be categorized as a ‘pure risk’ coverage plan and the other, which is a combination of insurance and savings (investment) component. I believe, most of […]
Life Insurance
LIC Jeevan Akshay VII Pension Plan (857) – Details & Review
LIC’s single Premium Pension plan ‘ LIC Jeevan Shanti’ (Plan No. 850) is currently one of the popular Pension plans. It offers the guaranteed pension to the policyholder, with options like an immediate pension or deferred pension. However, LIC is soon planning to stop offering the ‘immediate pension’ option under ‘Jeevan Shanti’ plan. LIC is […]
How to register LIC NEFT Mandate online? | New Provision
LIC had been issuing Cheques for settling insurance claims and also for making maturity/ other benefits payments until 2011. Since 2012, LIC has made it mandatory for the policy holder to submit ‘NEFT Mandate form’ to receive any type of payments from the insurer. Until recently, Customers or policy holders can submit the details of […]
IRDA Claim Settlement Ratio 2018-19 Data | Top 10 Life Insurance Companies based on CSR
Insurance Regulatory Development Authority (IRDA) has recently released its Annual report for 2018-19. Based on the annual report, I had listed down Top 10 Best best Life Insurance companies. The criteria for the selection is Individual Death Claim Settlement Ratio 2018-19. What is Death Claim Settlement Ratio w.r.t Life Insurance? Claim settlement is one of the […]
ICICI Prudential Precious Life (new) Term Insurance Plan | Life Cover to Individuals With Health Conditions
If death is certain, can insurance be optional? If life is unpredictable, insurance can’t be optional. As an earning member of a family, having adequate life insurance cover is a must. That’s the basic building block of Financial Planning Pyramid. Term Insurance plans are typically focused on providing life cover to individuals who are healthy. But, […]
LIC New Plans 2019-2020 | Features, Snapshot & Review of all the Plans
LIC has launched 4 new plans in the calendar year 2019 (till date). In this post I have tried to list down the important features, details and my recommendations on all LIC New Plans that are launched in 2019-20. From January 2018 to till-date (Nov 2019), LIC has launched two Endowment Insurance plans, one offline Term insurance plan and one […]
