India Insured

Protection Plans. The sole objective of these plans, as their name indicates, is to serve the protection needs of the customer and by doing so, safeguard one’s family from the financial implications of unfortunate circumstances than one cannot foresee. ICICI Prudential Life Insurance – Life Guard Plan (Protection Plan- Term Insurance Plan) Why LifeGuard Protect your family with ICICI Prudential's LifeGuard. LifeGuard acts as a shield that safeguards your loved ones from financial insecurity, at all times. A cost-effective plan, LifeGuard comes in three variants: LifeGuard (life cover without maturity benefit), LifeGuard with Return of Premium (life cover with maturity benefit), and LifeGuard Single Premium (premium at policy inception, cover till policy matures). Invest in a plan that best suits your requirements and guarantee your family lifelong comfort and security. LifeGuard at a GlanceProtect your family with ICICI Prudential's LifeGuard. LifeGuard acts as a

Life Stages                Your insurance need will change as your life does, from starting to work to enjoying your golden years and all the stages in between. Each one of these stages may pose a different insurance need/cover for you. In this section, we have drawn up the basic life stages and help you analyse various insurance needs accordingly. STAGE 1             Young and Single An important stage where one lays down the foundation of a successful life ahead. Take advantage of the time and power of compounding to ensure that you build up your dreams. Start saving early. Your needs Save for a home and wedding Tax Planning Save for Golden years               STAGE 2             Just Married Marriage brings about a significant change. New dreams and new opportunities also bring in additional responsibilities. While both of you look forward to a happy and secure life , it is equally important to ensure that eventualities don't come in the way of shapi

Types of Insurance Plans - Traditional Life Insurance or Unit Linked Insurance Plan Insurance Plans - At a glance Broadly, insurance plans can be distinctly divided into ULIPs and traditional plans. A brief detail of both segments: Unit Linked Insurance Product ULIPs have gained high acceptance due to attractive features they offer. These include:    1. Flexibility          1. Flexibility to choose Sum Assured.          2. Flexibility to choose premium amount.          3. Option to change level of Premium /Sum Assured even after the plan has started.          4. Flexibility to change asset allocation by switching between funds    2. Transparency          1. Charges in the plan & net amount invested are known to the customer          2. Convenience of tracking one's investment performance on a daily basis.    3. Liquidity          1. Option to withdraw money after few years (comfort required in case of exigency)           2. Low minimum tenure.

Life Insurance Vs. Other Savings Contract Of Insurance: A contract of insurance is a contract of utmost good faith technically known as uberrima fides. The doctrine of disclosing all material facts is embodied in this important principle, which applies to all forms of insurance.   At the time of taking a policy, policyholder should ensure that all questions in the proposal form are correctly answered. Any misrepresentation, non-disclosure or fraud in any document leading to the acceptance of the risk would render the insurance contract null and void.   Protection: Savings through life insurance guarantee full protection against risk of death of the saver. Also, in case of demise, life insurance assures payment of the entire amount assured (with bonuses wherever applicable) whereas in other savings schemes, only the amount saved (with interest) is payable.   Aid To Thrift: Life insurance encourages 'thrift'. It allows long-term savings since payments can be

Insurance : How much at what age At every stage of life, there is an element of risk for the individual. For instance, if you are married and have children, an untimely death or accident is going to cause serious financial loss to your family. Adequate insurance cover is, therefore, advocated by all financial planners to make sure that your family does not go through any financial hardships. However, while it is important that you have enough insurance, too much of it is also bad. This is because insurance, as a product, does not give you great returns. So, you need to have a proper mix of insurance and investment to meet all your financial goals. Let us look at different life stages and what are the elements that you need cover for: From birth till end of education There is actually no need to have any life cover as the individual's ability to earn any income is nil. In case of an untimely death, the parents are more bereaved because of the loss of a child, and less on

INSURANCE INSIGHT: Motor Insurance De-Tariffing- The next big thing to impact the general insurance industry Motor insurance has been de-tariffed from January 2007 onwards. This will significantly impact the way motor insurance is sold and its premium rates. In the tariffed scenario, the rating factors taken into consideration are: • Geographic zone – Where the vehicle is mostly plying and is registered. India is divided into two zones viz. A and B. In a de-tariffed scenario, this would change considerably as some more vital parameters would be brought into consideration while arriving at the premium. The challenges in a de-tariff market would be to meet the expectation of the various stakeholders like policyholder, insurer and the auto manufacturer. Customers expect that premiums be low, that they get the best quality of repair and value added services and other benefits. The auto manufacturers expect low overall vehicle cost to the customer, longer vehicle retention and dealer