How much insurance you need must be decided by your responsibilities, financial needs and financial goals for the future
Life insurance claims are increasingly being accepted online by insurers. This includes diigtal mediums like emails and WhatsApp.
The premium paid per year increases if one chooses a limited premium payment period, say for 10 years rather than throughout the cover period
Mortality charges depend on the sum assured minus the fund value. This is also known as the sum at risk
Ideally the claim process should settle within 30 days of acceptance, it may take long in case any document is missing.
The term 'risk' refers to the chance that an insurer is taking by committing financial aid to the insured person in case of an eventually
To bring a policy under the paid-up state, you have to pay at least two full year's premium for limited plans and three years for regular plans
Restoration benefit is an add-on facility to the existing plan and can be ustilised in case of a second hospitalisation within one year
While partial withdrawals can come in handy when trying to meet short-term financial goals/needs, this facility needs to be used judiciously
Intentionally self-inflicted injury or inflicted suicide irrespective of the mental condition of the insured will not yield any death benefits