term insurance policy Archives - MoneyFrog - Financial Services | Mutual Funds Distributor

Term Insurance – Don’t Delay Further

“Tum Term Insurance Lena Bhul Gaye, Ab GharKa Kharcha Kaise Chalega”

Quote from one of the recent TV Ad campaign on “Term Insurance Cover”; a lady is seen cursing her dead husband, on not buying a “Term Insurance Policy”, even though they (both) had decided to start same.

We Indians (I’m also included), believe in the fact that “Accidents” or “Death” is a wrong word and one should not get involved with same, in any context. Therefore, buying a policy to cover only death, that too without money-back, makes no sense 😉

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Manoj Chahar December 9, 2017 InsuranceInsurance, insurance policy, term insurance, term insurance policy 0 Read more >

Why a term insurance policy is the best life cover option?

Gautam, a 28-year-old IT professional, has got married recently. His parents are financially dependent on him. He saves Rs.15,000 each month. He thinks his insurance requirement would be Rs. 50 lakh. For the term insurance plan that his relationship manager is recommending, his annual premium will be Rs. 10,000, payable over 30 years.

He thinks a term insurance is a bad choice because he will not get any ‘returns’ on it. It seems unprofitable to him, as he is unlikely to get back the amount he pays as premium. Is term insurance really a waste of money? Should Gautam consider an insurance cover which provides a good ‘return’ at the end of the tenure instead?

First, Gautam needs to be educated about the concept of insurance and the purpose of buying it. The only way to do that is for him to imagine how his family would fare, if he were to pass away tomorrow. Wouldn’t it make things difficult for his wife and parents?

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Harshada Kadam February 13, 2017 Life insurancebest life cover option, term insurance policy, Why a term insurance is the best life cover option? 0 Read more >