Day: July 26, 2024

LIC’s Jeevan Utsav: Detailed Review with Sample Benefit Illustrations

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lic's jeevan utsav

Jeevan Utsav is a non-linked and non-participating whole life insurance plan from Life Insurance Corporation of India. It offers lifetime income for the policyholders after the selected accumulation period. The main attraction of this plan is its limited premium paying term. Premium paying terms of LIC’s Jeevan Utsav plan ranged between 5 to 16 years. The minimum age for taking this plan is 90 days and the maximum is 65 years. So, it benefits persons of all age groups, from kids to seniors. Another key benefit of Jeevan Utsav is…

LIC’s Jeevan Lakshya: A Smart Choice for Life Insurance

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LIC's Jeevan Lakshya, a smart choice for life insurance

Understanding Jeevan Lakshya LIC’s Jeevan Lakshya is one of the best available life insurance plan, that provides The best life insurance plan varies according to individual needs. However, a plan that offers multiple risk coverages with decent returns can treated as optimal. Typically, traditional life insurance policies consist of two main components; 1. Risk Coverage, and 2. Savings. Risk coverage refers to the sum assured payable to the beneficiaries in case of the policyholder’s death. The savings part of the life insurance policy accumulates cash value over time payable to…

How to Choose Right Add-ons in Car Insurance

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add-ons in car insurance

Understanding Add-ons in Car Insurance Choosing the right add-ons for your car insurance is a crucial decision that depends on your individual needs. To enhance protection for your vehicle and financial security, you can opt for various add-ons. While adding these extra features increases the car insurance cost, they offer additional protection in the event of an accident. To make your insurance cost-effective and beneficial, it’s essential to select the necessary add-ons based on your specific needs. The value of certain add-ons may vary depending on your location, driving frequency,…

Be Aware of Potential Losses in Life Insurance

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Be aware of potential losses in life insurance

Life insurance is essential for everyone, especially those who have dependants. There is no other way to provide financial security for the dependants, in case of an individual’s death. All other monetary instruments only give their accumulated value to the nominee, against the death claim. In life insurance, the nominee can receive the sum assured and accrued bonuses, irrespective of the policy’s accumulated cash value.  This is the main attraction of life insurance. If the policyholder survives the policy term, they can enjoy the maturity benefits, which include the sum…

How to Choose the Right Car Insurance

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how to choose the right car insurance

Choosing the right car insurance needs a proper evaluation of various factors. There are a lot of companies and they offer different plans and add-ons. So, it’s a little bit difficult to choose the right one. To gain more customers and increase market share, insurers constantly introduce new features and add-ons. Therefore, you must carefully evaluate your specific needs and priorities while choosing car insurance. It includes selecting the necessary coverage types based on your car’s value, usage patterns, and legal requirements. Compare quotes from multiple insurers to find the…

Things to Keep in Mind While Taking Health Insurance

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Important factors that should be consider while taking health insurance

Understanding Health Insurance Health insurance has become a basic requirement in today’s era. It is essential for safeguarding your well-being and financial security. Health insurance covers the cost of medical and surgical expenses incurred by the insured person. It provides financial protection against various health-related risks, including illnesses, injuries, and accidents. Health insurance is a contractual agreement between an individual or a group and an insurance company. By choosing the right health insurance plan, individuals gain access to essential medical services and treatments without bearing the full cost. Health insurance…

Mistakes that You Should Avoid While Taking Health Insurance

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common mistakes that should be avoid, while taking health insurance

Health insurance has become an essential investment for individuals and families due to the rising cost of medical care and the increasing risk of illnesses. It provides financial protection against unexpected medical expenses, ensuring access to quality healthcare without worrying about the financial burden. Additionally, health insurance also offers preventive care benefits, such as regular check-ups and screenings, to promote early detection and treatment of health issues. In today’s uncertain world, having health insurance is a vital aspect of maintaining one’s overall well-being and financial stability. However, people often make…