Lapsed Policy Insurance Policy gets a lapsed status when the premiums are not paid even after grace period. Either the purpose of insurance stops or gets reduced depending on type of Insurance plan. In participating plans, benefits are reduced on… Continue Reading
Death is somethivng which is an unpredictable event. It is always better to get a life insurance so as to financially secure future of loved ones. In case an unfortunate event occurs, nominee need to apply for a claim. However,… Continue Reading
Purpose of life insurance is to pay the claim to nominee in case of death of life insured and pay the maturity claim to Proposer in case of survival. Life insurance is also a saving instrument which guarantees to fulfill… Continue Reading
Surinder Chopra is a middle-aged cloth merchant who has also been a loyal LIC customer for decades. He purchases a policy from his local LIC agent; however, recently he has also been getting some phone calls regarding some attractive LIC… Continue Reading
Kailash, age 30, took a term insurance of Rs 1 crore for the financial security of our family. Kailash was a smoker and was told that premium rates for smokers will be higher. Kailash decided not to declare his smoking… Continue Reading
Junaid is a young man who comes from a humble background and is the only son of his aging parents. When he started work he wanted to purchase a health insurance plan for his parents. He decided to go for… Continue Reading
Sandip Singh Batta is a businessman based in Jaipur and lives with a joint family with many dependents. He and his brother have built the business from the ground up since their father passed away and Sandip has been very… Continue Reading
Meenal is a middle-aged housewife who always found it convenient to leave the financial management and decision-making to her husband. The ignorance that she maintained about her family’s finances came with a high price once her husband dies due to… Continue Reading
Swati bought a life insurance policy in 2014 and ever since then she has been very consistent in paying the premiums until COVID-19. In the first wave of COVID-19, the companies started downsizing and Swati was also laid off like… Continue Reading
Chitra’s husband was the sole breadwinner of the family; however, her world came crashing down when he was suddenly diagnosed with COVID-19 and passed away in just one week. With two small children and a hefty home loan, many financial… Continue Reading