Every Individual needs insurance, It not only protects us from uncertainty but also gives a hope for life. When we purchase a Term Life Insurance it automatically every member of the family under the cover of an earning member. But a term life Insurance is eligible if an Individual should be an earning member, If they are not an earning member they can opt for another Traditional Plan.
Life Insurance Policy, Whether Traditional Plan of Insurance is good or not?
Traditional Plan of Insurance is only good in listening due to their attractive name but in practice, its return can not beat even Inflation. So If an Individual does not carry a PAN Card can go for Traditional Types of Insurance. But it is called Trapping by an Insurance Agent Once an educated person buys a Traditional Insurance Product it has a Fixed amount of return but the ultimate return can not be greater than 7-8% means after Inflation Its actual return is very low. If you are with an Investment Advisor they never Guide a Traditional Plan of Life Insurance.
Types of life insurance policy
Life Insurance policies are many types like Term Insurance Plans, Retirement Life Insurance Plans, Dhan Versha Plans, Money Back Policy, Fixed Income Plans, and many more.
Term Life Insurance :
During Financial Planning it is a must every one who is an earning member of the family must have Term Life Insurance. It not only protects our family from bankruptcy it also gives strength to the remaining family in case of any misshaping with the earning member.
During Financial Planning or Investment Planning, we must focus on Term Insurance Plans. With Term Insurance a small amount of premium creates a huge Insurance Coverage to an earning member. Term Insurance must be at least 20 times of Annual Income of an Earning Member of the Family.
Unit Link Saving Plan (ULIP)
ULIP Plan also has many attractive names like Traditional Plan of Life Insurance. But there are many types of charges implemented on these products. So we advise Pure Investment ie. Mutual Funds and Term Insurance. Before buying any ULIP products or any Traditional Plan of Life Insurance must contact an Investment Advisor.
Do not mix an Insurance agent and an Investment Advisor. Both Advisory Process is absolutely opposite. An Insurance Agent sells a product with Fear and Emotion or we can say force selling. But an Investment Advisor sells or advises Nee Based on Educational Investment products. Never forget Investment ke liye Sirf Mutual Funds Sahi Hai.
Life Insurance Companies :
LIC (Life Insurance Corporation of India) is covering more than 50% of the Insurance Business in India. But many Private sector Insurance companies like HDFC Life, ICICI Prudential Life Insurance, SBI Life, MAX Life Insurance, Bajaj Life Insurance, and Aditya Birla Sun Life Insurance are called Life Insurance Companies of India. They have many types of life insurance Traditional Plans. So If you are alert and not trapped by any Insurance Agents avoid any Traditional Plan Life Insurance Go for Only a Term Life Insurance Plan and rest amount Invested in only Mutual Funds. Allneeds Advisory Services helps the right ways of Investment Planning where you get 10 times higher Insurance Coverage and 10 times higher return on the same amount of Investment under the guidelines of the Right Investment Advisor.
Top and Best life insurance companies
All Companies are best Of course LIC or HDFC Life is one of the top Life Insurance Companies but in investment must think their need is only a Term Insurance Plan under the guidelines of an Investment Advisor. Because Term Insurance is an Important Part of Financial Planning. With the correct term, Insurance Investor can get Ten times higher Insurance coverage than a traditional plan. It is absolutely good to start earlier.
LICI (Life Insurance Corporation of India), HDFC Life, SBI Life, and Max Life are considered the top life Insurance Companies in India. Dhyan ye rakhe… Lena Sirf Term Insurance hi hai. Allneeds Advisory Service provides One Stop Solution for All types of Insurance and Financial Planning for any Individual. It is suggested that any Individual who started their career must do Financial Planning to understand the needs and quantity of Insurance and Investment they require for proper wealth creation.
Best life insurance policy
The best Life Insurance Policy is only a Term Insurance Policy rest are just attractive ways of Insurance plans. Wher return is not that much good. Some fixed Insurance Plans of HDFC Life can be good Like HDFC Life Sanchay Plan HDFC Life Sanchay Plus can be taken for small diversification purposes only. Otherwise, If you need a good return then go for Mutual Funds Investment planning only.
Best Life Insurance Plan:
The best Life Insurance Plan is absolutely a Term Insurance Plan. Do not get emotionally trapped by the pretty name of any Insurance plan. Understand any traditional plan can not have a good return. So before purchasing any Insurance Plan go for Financial Planning with an Investment advisor or Financial Planner, not with an Insurance Agent or Development Office of any Insurance Companies or even Bankers or Part-time Insurance Agents. Their plan just reduces your overall return. So If you are an alert Invest and want a Good Return from your Investment then definitely go for Financial Planning first then meet with an Insurance Agent or avoid them.
life Insurance Agent
Life Insurance Agents or Insurance planners sell life Insurance, They are certified by IRDAI (Insurance Regulatory and Development Authority of India). An Insurance Agent always tries to sell different Traditional plans of Insurance. If you are smart go for Term Insurance and ask them for a Term Insurance plan only. Even they are misguided to purchase this because they're the only an Investor who can get 10 times or higher Insurance Coverage. Just think when you purchase a Health Insurance Plan Vehicle Insurance plan or any general Insurance plan is there any return if you do not have any incidents? That is the actual Insurance plan for any Individual.
General Insurance
General Insurance means Purchasing any Health Insurance Plan, Vehicle Insurance Plan, House Insurance Plan, or Property and Asset Insurance Plan. It is a Must and also part of Financial Planning. Which protects us from uncertain wealth loss during any accident, Fire, Loots, theft, or health issues. If you purchase any Health Insurance Plan that covers a full family including Mother Father and their two children. It protects the hues expenses of Hospitals and safeguards your wealth during any uncertain incidents. In India more than 1400 Hospitals are impaneled with Insurance companies there an insurer can get free Ambulance Services, Free treatment for all types of surgery and medicines, etc. Health Insurance cover in the following ways (Benefits of Health Insurance)
It is impaneled with more than 1400 hospitals in India
Any nearby hospital can be admitted.
All treatment and medicine become free.
It protects hue expenses in Hospitals during treatments
It gives top-class services at minimum expenses of premium and many more.
General insurance company
HDFC Ergo General Insurance, Digit General Insurance, SBI General Insurance, ICICI Lombard, National Insurance Company, United India Insurance, Cholamandalam MS General Insurance, Bajaj Allianz General Insurance, Digit Insurance, Bharti AXA General Insurance, Star Health Insurance Plan, Care Insurance Plan, Acko General Insurance, Agriculture Insurance Company of India, Future Generali India Insurance Limited, Ho Digit General Insurance Limited and many more are General Insurance Companies.
General accident insurance :
An Accident can happen at any time so purchasing a General Insurance Plan is a must-buy during Financial Planning. An Investment Planner or Financial Planner always suggests a good quality Insurance plan for their investor.
Digit general insurance
Digit Insurance Plan is the newest Insurance company providing an excellent service for their users. It has started on-road Vehicle repair and Service or on-site service is an excellent plan.
General life insurance
It Protects our health and life if an Insurer faces any Incident or Meets with an accident. There are Different Types Of General Insurance Plans like
Health Insurance Plan
Their different types of Health Insurance Plans Sometimes it is Group Insurance Plans also are purchased when there are at least 20 employees working in a company. Health Insurance Plan, where One plan covers a maximum of four members of the family, Anyone can get full treatment if required.
Motor Insurance
Motor Insurance is required when we purchase any vehicle that runs on a motor, It may be two-wheelers, four-wheelers, three-wheelers, and many more. Here at least third Party Insurance is a must to have, There must be a Pollution check otherwise a big challan can be charged by the Traffic Police. If we by Zero Dep Policy it costs zero in case of any accidents we encounter during our traveling.
Travel Insurance.
Travel Insurance is part of General Insurance, If you are traveling by air, Train, or ship you need Travel Insurance. Now a days Travel Insurance has become compulsory if anyone travels by Train or Air. With a small amount of premium, Travel Insurance gives protection to an individual if any unfortunate happens.
Property Insurance
Property Insurance or any asset Insurance is a must to purchase it protects us from any unfortunate. A small amount of Premium can provide big relief for any Individual. Must search for top Insurance companies providing Property Insurance near me. You can check many General Insurance Providing Companies like ICICI Lombard, HDFC Ergo, Bharti EXA General Insurance, New India Insurance Companies Ltd, and Go Digit Insurance offer Property Insurance at low cost.
Commercial Insurance.
Commercial Insurance protects any businessmen from heavy losses due to any uncertainty like theft, fire, Human losses, damage, liability, and many more. You must know the value of Commercial Insurance as it protects us from any mishappening in our day-to-day lives. Especially if the business is running in a high earthquake zone or there is a chance of fire, must get commercial insurance.
Asset Insurance.
Asset Insurance is also like commercial Insurance here we can get Insurance on our assets like Farming Land, Gold, and Silver, Homes, vehicles, etc. It gives us financial Security. No one knows about the uncertainty a small misshaping can dent our assets. If we protect it with Asset Insurance will have relief from huge losses.
Pet Insurance.
If you pet lake Dogs, Cats, Horses, Cows, Buffaloes, etc. must take Pet Insurance it may save you from hues and Veterinary Bills in case your pets get Injured. If your pets are less than 12 Years pet Insurance can be purchased. As of now Pregnancy of a pet is not covered by Pet Insurance but it can save many charges like tests, bandages, hospitalization, Vet visits, X-Ray, MRI/CT scans, etc. If you really love your pet and want to care for your pet must buy Pet Insurance It will be helpful for both owner and pet.
Bite-Sized Insurance plan
There are Seven types of Insurance in India Life Insurance is also called Personal Insurance. Property Insurance, Marine Insurance, Social Insurance, Guarantee Insurance, Liability Insurance, and Fire Insurance. But a Bite-Sized Insurance is taken when we need a Insurance for very short duration for specific Needs. This can be purchased from Online Insurer at a very low premium.