A term insurance policy is one of the most misunderstood products in India. Here are the right reasons why it is the best insurance option available.
'When buying a term insurance plan, you need to visualise today what could happen to your family tomorrow in your absence,' suggests Mahavir Chopra, director-health, Coverfox.com.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Choosing a term insurance policy is an economical way of getting life insured but choosing the most economical term insurance policy will help you to get life insurance on a tight budget also
Life insurance companies reported a 13.16 per cent year-on-year (Y-o-Y) growth in new business premium (NBP), totting up Rs 30,347 crore in October, even as the number of policies sold saw a sharp decline. The growth was largely driven by strong performance from private sector life insurers.
The life insurance industry does not have a good track record when it comes to passing on tax benefits to policyholders, points out Harsh Roongta.
Term insurance is the purest form of insurance and is widely used by people of all backgrounds.
Here's why term insurance always scores over endowment plans.
A bird's eye view of what you should check out before buying term insurance policies.
While different individuals plan their finances differently based on their needs and incomes, it is also true that all individuals need to have a term plan in their financial portfolio.
Industry experts believe that health insurance companies are unlikely to experience business cannibalisation due to the central government's decision to extend health coverage to people aged 70 and above, regardless of their income level, under the Ayushman Bharat scheme. On Wednesday, the Union Cabinet expanded the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) to include all senior citizens aged 70 and older. This move is expected to benefit nearly 45 million families, comprising 60 million senior citizens, by providing Rs 5 lakh in free health insurance coverage per family.
Customers have certain misconceptions about ULIPs. The charges for ULIPs are not as high as one thinks.
Here's your one-stop to know and learn all you always wanted to know about term insurance policies but didn't know who to ask.
While buying a term plan, do check how much money will be paid in lumpsum and how much of the money will come to the surviving family as a regular payout, suggests Sarbajeet K Sen.
Term life insurance policies are also called 'pure-risk policies' and 'pure life policies'; they have no savings or investment element in them; the premium includes only the cost of buying the life cover. Here are 6 term insurance policies compared on 5 parameters for you to choose from.
Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.
Health insurance coverage should be hiked periodically to keep pace with medical inflation, or increase in healthcare costs.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Life insurers, on the prodding of global reinsurers, are set to hike premiums on term plans because rising mortality after the second wave of the pandemic has led to an increase in the number of settlements. Some will do so next month while others may wait till January. Global reinsurer Munich Re had nudged its insurance partners on the hike in September and insurers have been engaged in negotiations with the reinsurer on the amount of the increase. Term plan prices in India were among the lowest in the world for a long period but in the past couple of years, they have been increased a few times.
Add-ons such as critical illness or disability due to accident are available on payment of a little extra money, and they can take care of any unforeseen, unfortunate developments, says Santosh Agarwal
'If something unfortunate happens to an earning member, the family loses the crucial income which would have gone towards paying off debts, meeting the cost of children's higher education, or towards the upkeep of elderly parents.'
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Here are some golden nuggets when it comes to creating wealth. Read them and if you find yourself saying, 'This everybody knows', cross your heart and ask yourself how many times you have forgotten these simple rules, says P V Subramanyam.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
The third quarter (Q3) of 2023-24 (FY24) has proven to be pivotal, witnessing some startups turning profitable and others enhancing their performance as their businesses finally begin to deliver. Startups like Delhivery, Zomato, PolicyBazaar, Mamaearth, and Nykaa have either become profitable or improved their profit margins in Q3FY24. A renewed focus on profitability, supported by operational efficiencies, expense rein-in, and robust demand during the festival season, has empowered companies to strengthen their performance.
If your need is just life cover, the cheapest way to get it is a term insurance plan. Find out which policy to buy. . .
It is a good option for parents of girl children who want a debt product and do not mind its low liquidity.
Group term insurance is far more cost-effective than an individual cover.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Table: The cheapest term insurance plans
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
There are certain plans that you can opt for that also cover dental treatments, says rediffGURU Sanjib Jha.
If you have a health insurance policy, you can earn benefits on premiums paid on health check-ups, says Sajja Praveen Chowdary, head-Term Life Insurance, Policybazaar.com.
If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
Sanjib Jha, CEO, Coverfox Insurance Broking answers your health insurance related queries.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances