Correction at 09:30 - If a person is detected with a critical illness then he will receive an additional payout immediately after he is detected with such disease which are mentioned in the list of critical illness rider. After detection of the disease the documents are to be filed for claiming the additional payout.
Har koi bol raha jaldi le lo at age 20, but koi ni bata raha ki premium high hoga agar aap 7 laak above salaried employees nahi ho aur bahut kam cover milega...lagbhag aadha cover.
One of the important point I would like to mention here is that I desperately tried to buy a term insurance but in the process of getting one, I realised that companies basically ask for salary sheet or bank statements to calculate eligibility criteria for claim. In my case I was eligible only for 25 Lakhs (from LIC). Most youth fall in my category hopefully so it's bit saddening no matter how much premium we afford for good claim, it lies in the companies hand to decide what our value is.
SAME PROBLEM WITH ME..I HAVE BUSINESS INCOME OF ONLY 2LAKH AND 5LAKH OTHER INCOMES..BUT THEY CONSIDER ONLY 2LAKH AND I AM ONLY ELIGIBLE FOR 30LAKHS SUM ASSURED...EVEN THOUGH I HAVE TOTAL INCOME OF 7 LAKH..SO I GAVE UP TAKING A TERM PLAN.
The volatility in the market is alarming. How can i diversify my reserve across multiple markets while creating a comprehensive portfolio allocation that balances my concerns of risk aversion and returns that meet yearly inflation? I mean I've heard of people making up to $300k weeks during this crash and I'd like to know how.
You have to get a financial-advisor/broker to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings.
@@tradekings5433 I agree, my profit has been quite consistent, regardless of market situation, I got in early 2019 and the constant downtrends and losses discouraged me so I sold off, and got back in Dec 2020 this time with guidance from a portfolio adviser that was commended by a famous economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my investment adviser
टर्म इन्शुरन्स घ्यावा, कसा घ्यावा हे सगळेच सांगतात. पण कोविड मध्ये खुप लोक गेली, बऱ्याच लोकाना lic क्लेम मिळाले पण एखाद्याला टर्म इन्शुरन्स क्लेम मिळाला हे कधी कानावर नाही आलं. टर्म वाल्यांचा क्लेम सेटलमेंट रेट किती आहे? खरच हे किती लोकाना पैसे देतात यावर एक वीडियो बनवा. 🙏🏻🙏🏻🙏🏻🙏🏻
Critical illness rider is a very good suggestion because illness can hit anytime, pandemic is proof of that. However please note that Critical illness rider will double your premium. That's what Edelweiss Tokio told me. If there's a cheaper option, please suggest that.
Thank you mam, for this informative video. I have two questions 1. What if at the time of purchasing insurance, we don't know have knowledge of any pre-existing disease as no symptoms has showed till date. 2. What if a company has rejected/postpone my term insurance plan due to any medical reason.
I recently talked to ditto it is regarding the last mistake u mentioned , he said after 2 years of taking term insurance we will get sum assured irrespective of any disease whether it is pre existing or not. minimum criteria is to pass first 2-3 years .
Don't trust this platforms as their intentions are to sell the policy, but the insurance company will be at the time of disperse can hd your claim...so it's best to be as authentic as possible....
Companies go for respective medical test while giving term insurance so nowadays it's difficult to get a policy by hiding any information. If anyone have pre-existing medical conditions in that case insurance company will reject insurance proposal or will give a hefty counter offer.
I'm new to stock market /Crypto and would like to invest but I've go no idea on how to make good profits. Pls what's the best approach you'd recommend?
@@Eugeneronnie9274 Indeed crypto is the best investment, Earning3x my salary soon I won't have to work anymore..women should start taking part in these kinds of digital investment
There are essential things you have not covered in your video like paying out the term insurance per year or paying out early in 5 years or 10 years if the cash flow into one's earnings was good to make sense to finish the commitment early if somebody starts late paying at 35-40 years timeline. Some insurers could not want to pay out till 65 to keep the term valid till 85 years. So based on the above scenario, we are not sure who is beneficial, whether it is an insurer or an insurance company in real terms. Appreciate your input in this instance!
There are many benefits to paying limited premiums which could include 1. Premium payments end within a short period 2. Better tax benefits if the S80C limit is not fully used If you are able to manage your other living expenses along with the premiums to be paid then there is no harm in opting for the same.
Two important questions 1) What is the rule of term insurance for a non-smoker who takes the insurance but later turns to smoking, how he can update the policy, or shall take new one 2) what shall be the ideal timeframe for sum insurance 65yrs (75yrs) or 90yrs I am just 44yrs boy, I have term insurance until 65yrs would this beed to extend? Company didn't allow any modification in last 5yrs
Answers to your queries 1. Insurers do not allow change of plan mid-term from smoker to non-smoker plans. Also, some insurers do not consider non-smoking status unless it was given up for more than five years. In case you meet this requirement, you could opt for a new term plan 2. Ideal time frame could be up to 65-70 years.
Answer is if you are applying as a non smoker and later started smoking, in that case company have all the right to reject the claim if death happened due to smoking reasons.
The information provided about the critical illness rider is incorrect. The cover amount under critical illness rider is paid out when the person is diagnosed with one of the critical illnesses listed in the policy document, and not when he dies. The purpose of the rider is to assist the person's family in treating him/her.
Correct ... But let's appreciate madam for creating awareness. Unfortunately a lot of people don't take it seriously. Besides death - few worse conditions to be in are - permanent disability - critical illness A small incremental premium if a person is still healthy can really go a far way during crisis
There is a minor correction in the video - If a person is detected with a critical illness, he will receive an additional payout to manage his hospital expenditure.
Avoid .antics ... It's does not add value.. you have excellent knowledge and good analytical abilities.. antics make it look like non serious.. it's good to .ake money from viewership only
The problem with the monthly payout option is you have to depend on insurance company for life time and who knows they will provide monthly payout each month for the lifetime or not.what if they find any excuse or escape way in future so better if we choose lumpsum option and get rid of these types of fear
Good explanations! The Ditto bit was quite useful, not useful, but a god send. Try out the premium calculator etc, i was going to take a 85 yr plan, then Ditto suggested not much useful, and i saved tons of money taking insurance to 65 yrs, which is more than enough. Please talk about this. Thanks!
Hi Rachana, I like your videos but not happy with this one. 1. First and foremost, one should go for term insurance only if you have dependents and not enough wealth(at least 40x of your current yearly spending’s). Else not required. 2. If you can manage your finances well. Better invest the monthly/ yearly premium until you really have dependents. 3. It doesn’t matter the premium increase as you age. It will increase only according to inflation. If you can invest the so called less premium during your early years and take insurance say at 30 when u have dependents. Excess premium can be easily covered by the returns earned by the investment you have been doing until now. 4. Amount of coverage should be decided based on your yearly spending’s and not based on your salary. 5. Say you earn 10L but 5L is your spendings. Make sure you have cover for at least (25x of your spendings - Your current investments) 6. Don’t go for auto coverage increase plan. 7. Instead, Assess your coverage every 5 yrs. apply same formula as above and see where you stand. If you are fortunate and your corpus has substantially increased, you may not need to increase your coverage. In the end, be judicious and decide on what is required for you at that date and time. Make sure you invest the amount you saved on premiums wisely to increase your wealth.
Sir I am 35 years old and taken max life term plan just 1 month premium paid but I am now in a confused state after seeing their social media pages there are so many complaints regarding various issues so should I continue with my term plan or should I stop paying the premium.I am a railway employee and my wife and son depends on me.Please answer ASAP Sir
INR 7000 at 20 is much much much bigger than 18K at 40. If you understand the power of compounding, you will understand this fact...something even these wise influencers don't seem to understand...
Yes, 7000 per month for term insurance in age 24-25 when salary is like 40000 is difficult compared to 15000 in age 35 when salary is above 1 lac is easier.
Very good information thank you Rachana mam... but i have a doubt that "what if have Disease come _after taking the policy" .. we have to inform to them or exactly what ??? please reply mam
And what about the HLV? Human Life Value in financial terms? You do realise that when you are below 35 your income multiplier is 30. That is to say if you are earning 15LPA (when you are 34) then you are eligible for a Term Cover of 4.5CRORE. Whereas if you are earning 25LPA (your are 46) then you are only eligible for Term Cover of 3.75CRORE. It's better to ensure early to have BENEFITS of REDUCED PREMIUMS, Riders comes at nominal rates, LESS MEDICALS as compared to when you are in 40's or 50's, and ENHANCED COVER.
@CA Rachana Phadke Ranade few questions need answer for clearity How to insure any provision while taking Term insurance that sum assured must adjust as inflation increases. Provision for 50% payout + monthly payout.
Brother any idea like international term insurance policy company .Zurich insurance company and MetLife company is which one is best company to buy insurance plan from UAE Dubai .
I have one term insurance, I need to purchase one more. Shall I purchase same company insurance or different company. Is there any issue if purchase two diff. Insurance from diff company. Please guid
Hi mam am beginner I have a question for you mam whenever I sit to trade I start getting scared mam that is the reason am not able to trade what shall I do mam plz help me
Earlier is not better also? Age of 20 and max term duration ends the cover up to 60 years But at the age of 40 same max term duration covers up to the age of 80. So definitely premium varies and better coverage.
Hi madam, Kashe ahaat ? My question is, if I have multiple life cover policies, will all the sum assured be given to nominee? Example, 1> I have an endowment policy and the company provides 25L life cover without additional premium. 2> I have 3 bank saving accounts suppose, each bank provides Rs 2L cover to all account holders, total of 6L cover. 3> I buy a term policy for 35yrs 1Cr. 4> I go for Pradhan Mantri Jeevan Jyoti scheme Rs 2L. Total of 1-4 policies is 1.33Cr. When the policy holder dies, family has 1 set of original document (death certificate, etc.). Will the family get 1.33Cr sum assured, by intimating all 4 companies? Or only 1 policy benefit with max. Cover (here 1Cr) and others become null or all benefit of 1.33Cr (suppose in this example policy holder with 10L income can apply max. upto say 3Cr life cover as per IRDA regulations with persons record mentioned in CDSL repository and 1.33Cr is well within 3Cr). Please clarify !
Hi madam, Kashe ahaat ? My question is, if I have multiple life cover policies, will all the sum assured be given to nominee? Example, 1> I have an endowment policy and the company provides 25L life cover without additional premium. 2> I have 3 bank saving accounts suppose, each bank provides Rs 2L cover to all account holders, total of 6L cover. 3> I buy a term policy for 35yrs 1Cr. 4> I go for Pradhan Mantri Jeevan Jyoti scheme Rs 2L. Total of 1-4 policies is 1.33Cr. When the policy holder dies, family has 1 set of original document (death certificate, etc.). Will the family get 1.33Cr sum assured, by intimating all 4 companies? Or only 1 policy benefit with max. Cover (here 1Cr) and others become null or all benefit of 1.33Cr (suppose in this example policy holder with 10L income can apply max. upto say 3Cr life cover as per IRDA regulations with persons record mentioned in CDSL repository and 1.33Cr is well within 3Cr). Please clarify ! ±919000820953
Hello, Rachana Mam I'm 17 years old boy from Surat, Gujarat. I wouldn't say I like to study from my commerce books about finance, I always go to your channel and other financial creators' channels or to some other books to Study and understand Finance (Lots of love to you😊, Thanks for creating this fantastic Content) and ya I watched your 3 Videos about Basics of Stock Market that you published for us and after watching that videos I started investing in Equity form Young Age, Thanks for sharing everything Mam 😇😇🤗🤗
Which plan is better a term plan or endowment plan ? Why people talks about only taking a life insurance with endowment plan but not a term insurance plan ?
I have checked various term plans in different insurance providers. While considering the premium amounts in Max and HDFC life, I was surprised to notice that opting for 40 lacs of current payout costs higher premium than that of opting for 50 lacs. Why so?
Mam which is best for long term? Health Insurance or Term Insurance or Life Insurance? I think thousands of people are still have doubts that which insurance is best for them in long term if they are between 25 to 35.
@@deepaklakhotiya768 yes right and after watching so many videos I can say that one should have Health insurance and term insurance and SIP in mutual funds if pocket allows.
gys simple hai aapka goal kya hai ispe sab depend hai.. Agar aapka goal hai ki aapki family safety rahe to aap term insurance and health insurance le sakte hai. Agar aapka goal hai ki tax saving karna hai to aap term +health+ SIP+ Endorsement plan le sakte hai. Ab aap log bolege ki me endorsement plan lene se acha stock and mutual fund me SIP karunga to ye bhi aapke risk lene upper depend hai. Kyuki sabka apke apne risk behavior pe hai. Example 1) person 1 - jo risk nahi lena chahta or return expectations jada nahi hai vo safely apna tax saving and family safety chahta hai to vo endorsement plan le sakta hai. With other combination. 2) person 2 - agar vo thoda risk le sakta hai or jada nahi but aik better return generate karna chahta hai like inflation se 2x yani indian me 6-7% inflation hai to agar vo avg 12-15 % return generate karna chahta hai to vo term + health+ MF SIP kar sakta hai. 3) person - high risk high return chata hai fir vo stock market + mf+ heath + term ye sab leke apne goal ko achieve kar sakta hai. Ye to ho gya persons ke behavior ke upper risk lene ki shanmta per but agar goal base planning karni hai to hame alag alag sari cheeze sochne padti hai. Isliye mera suggestion hai ki aap log kisi financial planner ke pass jake apni financial planning karwaye bajaay influence ke pass jane ke kyu jitne social media influencer hai vo sab commission, sponsorship and course bechne ke liye aapke mind ke sath khelte hai or aapki financial planning to chodo aapko pagal bnake khud paisa kama lete hai. So apne financial planner ke pass jake help le. Thank you.
I suggest to get the full amount and put fixed deposit in bank or post office.. will get monthly interest.. we need to inform to our family about this..
Hello Madam, What happens if someone buys Term insurance at a young age without any pre-existing illness (say diabetes) but dies after 20 years due to diabetes (which was developed after he bought insurance), then would that claim be settled?
There are many benefits to paying limited premiums which could include 1. Premium payments end within a short period 2. Better tax benefits if the S80C limit is not fully used If you are able to manage your other living expenses along with the premiums to be paid then there is no harm in opting for the same.
While taking policies there is no any pre-existing deseas but after that when we admitted and detect diabetes. Will it cover and how we prove that the deseas was not earlier.
I am not able to open trading account because my bank details are on maiden name and aadhar card is marital name. None of the apps like zerodha, angel one etc have option to upload marriage certificate, for clarifying name change for ladies
Madam if a person attains age 18 he takes a term insurance policy he was a non smoker and becomes a smoker after 2 year's / now what he should do now because he became a smoker and he should inform to the insurance company and take a new policy or the earlier policy shall be continued and his legal heirs shall get the claim in the future if the proposer died during the policy period or the claim will be rejected - please explain or clarify...
I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks. I believe having 75K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities
Even with the right technique and assets some investors would still make more than others, as an investor, you should've known that by now, nothing beats experience and that's final, personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I'm buying again
The broker I'm in touch with is *ASHLEY AIRAGAHI . I came across her in a Bloomberg interview and got in touch with her. You can use something else. For me, her strategy works hence my result. She provides entry and exit point for the securities I focus on
Same here, i will praise Mrs Ashley over and over again because she has great skills, i started with $2,400 and after 2week i received a returns of $9,150 then i continue with her ever since she has been delivering.
Good content.... but i have few questions in my mind that are combined for health and Term insurance- 1. The term insurance is taken by breadwinner of the family and if that person takes critical illness rider also still only that person of the family will be covered. Say his spouse/child/any other dependent get suffered from critical disease then this critical illness rider is of no use. Isn't it better to take critical illness rider with floater family health insurance so dependents also get benefitted. Another point is portability because the critical illness rider may not be available with other company term plan. 2. A person (say Raman) has annual income of 10 lacs and he is of 30 year old at the time of taking Term insurance with 1 crore cover amount for 30 year (i.e. his policy will expire when he attain age 60). He paid the premium on time every year and he dies at the age of 50. Now will company settle claim of 1 Crore rupees or they will calculate Human Life Value (i.e. based on the pending working life income) then accordingly they will settle reduced claim. I didn't find any clear illustration despite of reading many policy document. Can you answer or better to create a detailed video on this?
sir pahle se hi term plan le rakha hai aur car loan lete samay bhi life insurance liya, to kya bank death k baad usi insurance se amount settaled karegi ya nominee ko term insurance ka paisa milne ke baad usme se legi
In India trend is changed ,previously husband, head of family was working so normally term insurance was brought by husband. Now both are working. Also previously options in Term plan were less , incase of insured death sum assured was given. Now u have options like one policy which caters Term plan, investment growth thru mutual fund, hospitalization and critical illness. also women insurance is cheaper than men . so recommendation is taking term plan for both depends on your goal. women plan can be used for legacy creation with less premium. and male insurance for risk cover
Hi Madam, I have one question, I have heart Problem and I tried to take term insurance but no company is providing me buz of my heath heart porblem, in this case, if I will die what I have to do so my family will not face any problem
Premium at 20 = 7k, premium at 40 = 18k. But I would have already paid (7k x 20) = 1.4 lakhs by the age of 40. By this logic, taking the insurance at 40 only, makes sense.
Correction at 09:30 - If a person is detected with a critical illness then he will receive an additional payout immediately after he is detected with such disease which are mentioned in the list of critical illness rider.
After detection of the disease the documents are to be filed for claiming the additional payout.
Hindi marathi madhe banva same video
Yes. The payout option is for accidental death rider
What happens if a persion becomes diabetic after 5 yrs of taking a term insurance ? Should the person voluntarily inform the insurance company ?
@@kalpesh_pawar Tula Term Insurance policy copy Marathi madhe naahi detat
Mam, But where and when can I get the list of that critical illness?
Har koi bol raha jaldi le lo at age 20, but koi ni bata raha ki premium high hoga agar aap 7 laak above salaried employees nahi ho aur bahut kam cover milega...lagbhag aadha cover.
One of the important point I would like to mention here is that I desperately tried to buy a term insurance but in the process of getting one, I realised that companies basically ask for salary sheet or bank statements to calculate eligibility criteria for claim. In my case I was eligible only for 25 Lakhs (from LIC). Most youth fall in my category hopefully so it's bit saddening no matter how much premium we afford for good claim, it lies in the companies hand to decide what our value is.
This is to safeguard themselves against suicide claims I guess
SAME PROBLEM WITH ME..I HAVE BUSINESS INCOME OF ONLY 2LAKH AND 5LAKH OTHER INCOMES..BUT THEY CONSIDER ONLY 2LAKH AND I AM ONLY ELIGIBLE FOR 30LAKHS SUM ASSURED...EVEN THOUGH I HAVE TOTAL INCOME OF 7 LAKH..SO I GAVE UP TAKING A TERM PLAN.
The volatility in the market is alarming. How can i diversify my reserve across multiple markets while creating a comprehensive portfolio allocation that balances my concerns of risk aversion and returns that meet yearly inflation? I mean I've heard of people making up to $300k weeks during this crash and I'd like to know how.
You have to get a financial-advisor/broker to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings.
@@tradekings5433 I agree, my profit has been quite consistent, regardless of market situation, I got in early 2019 and the constant downtrends and losses discouraged me so I sold off, and got back in Dec 2020 this time with guidance from a portfolio adviser that was commended by a famous economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my investment adviser
@@emilybrown2719 Please can you leave the info of your investment advisor here? I’m in dire need for one
@@ladymariangray The advisor I use is Susan Agnes Hancock, she's verifiable, so you could just search her.
@@emilybrown2719 Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals and scheduled a call
टर्म इन्शुरन्स घ्यावा, कसा घ्यावा हे सगळेच सांगतात. पण कोविड मध्ये खुप लोक गेली, बऱ्याच लोकाना lic क्लेम मिळाले पण एखाद्याला टर्म इन्शुरन्स क्लेम मिळाला हे कधी कानावर नाही आलं.
टर्म वाल्यांचा क्लेम सेटलमेंट रेट किती आहे? खरच हे किती लोकाना पैसे देतात यावर एक वीडियो बनवा. 🙏🏻🙏🏻🙏🏻🙏🏻
Critical illness rider is a very good suggestion because illness can hit anytime, pandemic is proof of that. However please note that Critical illness rider will double your premium. That's what Edelweiss Tokio told me. If there's a cheaper option, please suggest that.
Thank you mam, for this informative video.
I have two questions
1. What if at the time of purchasing insurance, we don't know have knowledge of any pre-existing disease as no symptoms has showed till date.
2. What if a company has rejected/postpone my term insurance plan due to any medical reason.
Policy buy karte vaqt company ko bolo apke medical compulsory kar le. Jisse bhi aap policy le rahe h. Usko bolo.
I recently talked to ditto it is regarding the last mistake u mentioned , he said after 2 years of taking term insurance we will get sum assured irrespective of any disease whether it is pre existing or not. minimum criteria is to pass first 2-3 years .
Don't trust this platforms as their intentions are to sell the policy, but the insurance company will be at the time of disperse can hd your claim...so it's best to be as authentic as possible....
@@kiranhon7894 very true
Yes section 45 of insurance act me bi yhi likha hai
Companies go for respective medical test while giving term insurance so nowadays it's difficult to get a policy by hiding any information. If anyone have pre-existing medical conditions in that case insurance company will reject insurance proposal or will give a hefty counter offer.
@@vineetgoyal8681 section 45 gives certain power to both company and consumer read it properly
how ditto is different from policy bazaar ?
I'm new to stock market /Crypto and would like to invest but I've go no idea on how to make good profits. Pls what's the best approach you'd recommend?
Exactly, at the moment bitcoin is the best and profitable coin to buy and invest in..
@@Eugeneronnie9274 Indeed crypto is the best investment, Earning3x my salary soon I won't have to work anymore..women should start taking part in these kinds of digital investment
Wow I'm just shocked some one mentioned expert Mrs Evelyn Vera name i thought I'm the only one trading with her
How does this Bitcoin stuff work, I am interested and willing to invest heavily as I have heard too many testimonies
Wow!! Impressive you trade with Mrs Evelyn Vera too! I thought people don't know her that well.... She's really awesome!
There are essential things you have not covered in your video like paying out the term insurance per year or paying out early in 5 years or 10 years if the cash flow into one's earnings was good to make sense to finish the commitment early if somebody starts late paying at 35-40 years timeline. Some insurers could not want to pay out till 65 to keep the term valid till 85 years. So based on the above scenario, we are not sure who is beneficial, whether it is an insurer or an insurance company in real terms. Appreciate your input in this instance!
There are many benefits to paying limited premiums which could include
1. Premium payments end within a short period
2. Better tax benefits if the S80C limit is not fully used
If you are able to manage your other living expenses along with the premiums to be paid then there is no harm in opting for the same.
Which insurance is available for alimony? Divorce is expensive in India.
Two important questions
1) What is the rule of term insurance for a non-smoker who takes the insurance but later turns to smoking, how he can update the policy, or shall take new one
2) what shall be the ideal timeframe for sum insurance 65yrs (75yrs) or 90yrs
I am just 44yrs boy, I have term insurance until 65yrs would this beed to extend? Company didn't allow any modification in last 5yrs
Answers to your queries
1. Insurers do not allow change of plan mid-term from smoker to non-smoker plans. Also, some insurers do not consider non-smoking status unless it was given up for more than five years. In case you meet this requirement, you could opt for a new term plan
2. Ideal time frame could be up to 65-70 years.
@@CARachanaRanade ur first point answer is different what he ask..... He ask if non smoker become smoker
Answer is if you are applying as a non smoker and later started smoking, in that case company have all the right to reject the claim if death happened due to smoking reasons.
If policy started as Non smoker and then updated as smoker, will this 3 years period (IRDA section 45) start again? just like after adding rider???
The information provided about the critical illness rider is incorrect. The cover amount under critical illness rider is paid out when the person is diagnosed with one of the critical illnesses listed in the policy document, and not when he dies. The purpose of the rider is to assist the person's family in treating him/her.
Correct ... But let's appreciate madam for creating awareness. Unfortunately a lot of people don't take it seriously. Besides death - few worse conditions to be in are
- permanent disability
- critical illness
A small incremental premium if a person is still healthy can really go a far way during crisis
There is a minor correction in the video - If a person is detected with a critical illness, he will receive an additional payout to manage his hospital expenditure.
Making a mistake in a video about a mistake itself 🤣🤣 oh the irony
Very good information but can u help on people who are obese and not getting term insurance?
Avoid .antics ... It's does not add value.. you have excellent knowledge and good analytical abilities.. antics make it look like non serious.. it's good to .ake money from viewership only
We like antics
Madam Ji, What to do with Polyplex now ~24% ⬇️ hold, sell or add❓️
Your senses of humour is just osm and the way you explain things it's quite well thanku for your valuable knowledge
The problem with the monthly payout option is you have to depend on insurance company for life time and who knows they will provide monthly payout each month for the lifetime or not.what if they find any excuse or escape way in future so better if we choose lumpsum option and get rid of these types of fear
Go for Reputed and big banks
You did not mention to cover our present liabilities like Home loan personal loan other loans if any. That should be added to sum assured.
Great.hmmm Like you're selling term insurance too!!! How many desk a person should go before the mature amount credited to his account?!
Good explanations! The Ditto bit was quite useful, not useful, but a god send. Try out the premium calculator etc, i was going to take a 85 yr plan, then Ditto suggested not much useful, and i saved tons of money taking insurance to 65 yrs, which is more than enough. Please talk about this. Thanks!
Ditto is already waste
@@raghavendraoraghu3349 Is it? Maybe, but got good insights on their website..Saved me a lot of money while others were recommending expensive plans
Wouldn't inflation nullify the benefit of monthly payout? the value of money decreases as the time passes by.
Stethoscope आणि pulseox 😅. Hilarious start .
Very informative talk.
Dr Raviraj
Hi Rachana, I like your videos but not happy with this one.
1. First and foremost, one should go for term insurance only if you have dependents and not enough wealth(at least 40x of your current yearly spending’s). Else not required.
2. If you can manage your finances well. Better invest the monthly/ yearly premium until you really have dependents.
3. It doesn’t matter the premium increase as you age. It will increase only according to inflation. If you can invest the so called less premium during your early years and take insurance say at 30 when u have dependents. Excess premium can be easily covered by the returns earned by the investment you have been doing until now.
4. Amount of coverage should be decided based on your yearly spending’s and not based on your salary.
5. Say you earn 10L but 5L is your spendings. Make sure you have cover for at least (25x of your spendings - Your current investments)
6. Don’t go for auto coverage increase plan.
7. Instead, Assess your coverage every 5 yrs. apply same formula as above and see where you stand. If you are fortunate and your corpus has substantially increased, you may not need to increase your coverage.
In the end, be judicious and decide on what is required for you at that date and time.
Make sure you invest the amount you saved on premiums wisely to increase your wealth.
Sir I am 35 years old and taken max life term plan just 1 month premium paid but I am now in a confused state after seeing their social media pages there are so many complaints regarding various issues so should I continue with my term plan or should I stop paying the premium.I am a railway employee and my wife and son depends on me.Please answer ASAP Sir
Starting is लय भारी 👏👏👍
What a teaching skill !
In monthly payout option how the interest part calculated?
INR 7000 at 20 is much much much bigger than 18K at 40. If you understand the power of compounding, you will understand this fact...something even these wise influencers don't seem to understand...
Fact bro... That's what I was thinking!
Yes, 7000 per month for term insurance in age 24-25 when salary is like 40000 is difficult compared to 15000 in age 35 when salary is above 1 lac is easier.
it's 7k per year
🎉@@lazy_wolf_unofficial
Very good information thank you Rachana mam... but i have a doubt that "what if have Disease come _after taking the policy" .. we have to inform to them or exactly what ??? please reply mam
If you buy term plan late that is also okay, because you pay extra now, but you have saved the premium amount in the previous years 😉
Yes agree
Exactly
And what about the HLV? Human Life Value in financial terms? You do realise that when you are below 35 your income multiplier is 30. That is to say if you are earning 15LPA (when you are 34) then you are eligible for a Term Cover of 4.5CRORE. Whereas if you are earning 25LPA (your are 46) then you are only eligible for Term Cover of 3.75CRORE. It's better to ensure early to have BENEFITS of REDUCED PREMIUMS, Riders comes at nominal rates, LESS MEDICALS as compared to when you are in 40's or 50's, and ENHANCED COVER.
You saved previous 5-6 premium but now you need to pay higher premium for 25-36 years. Not feasible
@CA Rachana Phadke Ranade few questions need answer for clearity
How to insure any provision while taking Term insurance that sum assured must adjust as inflation increases.
Provision for 50% payout + monthly payout.
Brother any idea like international term insurance policy company .Zurich insurance company and MetLife company is which one is best company to buy insurance plan from UAE Dubai .
Hi , can you explain nishchit aayush plan?
Managing 2cr now is not that difficult.....one apartment is costing more than that I think we should say 20cr
What about the Franklin india feeder. Franklin US opportunity find?
Is it good?
I have one term insurance, I need to purchase one more. Shall I purchase same company insurance or different company.
Is there any issue if purchase two diff. Insurance from diff company. Please guid
Hi mam am beginner I have a question for you mam whenever I sit to trade I start getting scared mam that is the reason am not able to trade what shall I do mam plz help me
Earlier is not better also? Age of 20 and max term duration ends the cover up to 60 years
But at the age of 40 same max term duration covers up to the age of 80. So definitely premium varies and better coverage.
Hi madam, Kashe ahaat ? My question is, if I have multiple life cover policies, will all the sum assured be given to nominee? Example, 1> I have an endowment policy and the company provides 25L life cover without additional premium. 2> I have 3 bank saving accounts suppose, each bank provides Rs 2L cover to all account holders, total of 6L cover. 3> I buy a term policy for 35yrs 1Cr. 4> I go for Pradhan Mantri Jeevan Jyoti scheme Rs 2L. Total of 1-4 policies is 1.33Cr. When the policy holder dies, family has 1 set of original document (death certificate, etc.). Will the family get 1.33Cr sum assured, by intimating all 4 companies? Or only 1 policy benefit with max. Cover (here 1Cr) and others become null or all benefit of 1.33Cr (suppose in this example policy holder with 10L income can apply max. upto say 3Cr life cover as per IRDA regulations with persons record mentioned in CDSL repository and 1.33Cr is well within 3Cr). Please clarify !
Hi madam, Kashe ahaat ? My question is, if I have multiple life cover policies, will all the sum assured be given to nominee? Example, 1> I have an endowment policy and the company provides 25L life cover without additional premium. 2> I have 3 bank saving accounts suppose, each bank provides Rs 2L cover to all account holders, total of 6L cover. 3> I buy a term policy for 35yrs 1Cr. 4> I go for Pradhan Mantri Jeevan Jyoti scheme Rs 2L. Total of 1-4 policies is 1.33Cr. When the policy holder dies, family has 1 set of original document (death certificate, etc.). Will the family get 1.33Cr sum assured, by intimating all 4 companies? Or only 1 policy benefit with max. Cover (here 1Cr) and others become null or all benefit of 1.33Cr (suppose in this example policy holder with 10L income can apply max. upto say 3Cr life cover as per IRDA regulations with persons record mentioned in CDSL repository and 1.33Cr is well within 3Cr). Please clarify ! ±919000820953
Hello, Rachana Mam I'm 17 years old boy from Surat, Gujarat. I wouldn't say I like to study from my commerce books about finance, I always go to your channel and other financial creators' channels or to some other books to Study and understand Finance (Lots of love to you😊, Thanks for creating this fantastic Content) and ya I watched your 3 Videos about Basics of Stock Market that you published for us and after watching that videos I started investing in Equity form Young Age, Thanks for sharing everything Mam 😇😇🤗🤗
varacha thi me.bhai
@@user-nt3dn4lk9y ohh good bhai mal ya koi devas
@@Kaushil__ age ? tari
17 CHE BHAI
@@user-nt3dn4lk9y 17 age che
Which is the best term insurance policy
I didn't get the sum assured top up feature anywhere
I don't know where do you guys get that
Which plan is better a term plan or endowment plan ?
Why people talks about only taking a life insurance with endowment plan but not a term insurance plan ?
Thank you so much for valuable information
I have checked various term plans in different insurance providers. While considering the premium amounts in Max and HDFC life, I was surprised to notice that opting for 40 lacs of current payout costs higher premium than that of opting for 50 lacs. Why so?
Madam you cannot buy term insurance when you are student..
...I am 19 years but not getting any term plan for 50 lakhs
Whether one person should take both Life insurance and Term insurance ?
Buying term insurance or investing monthly which is better?
Both are important
Mam which is best for long term?
Health Insurance or Term Insurance or Life Insurance?
I think thousands of people are still have doubts that which insurance is best for them in long term if they are between 25 to 35.
Life insurance and term insurance ek hi bat h
@@deepaklakhotiya768 yes right and after watching so many videos I can say that one should have Health insurance and term insurance and SIP in mutual funds if pocket allows.
@@kapilsharma1293 no worries you can ask me anything, I am from this industry last 7 years
Term plan and health insurance both are important
gys simple hai aapka goal kya hai ispe sab depend hai.. Agar aapka goal hai ki aapki family safety rahe to aap term insurance and health insurance le sakte hai.
Agar aapka goal hai ki tax saving karna hai to aap term +health+ SIP+ Endorsement plan le sakte hai.
Ab aap log bolege ki me endorsement plan lene se acha stock and mutual fund me SIP karunga to ye bhi aapke risk lene upper depend hai. Kyuki sabka apke apne risk behavior pe hai. Example
1) person 1 - jo risk nahi lena chahta or return expectations jada nahi hai vo safely apna tax saving and family safety chahta hai to vo endorsement plan le sakta hai. With other combination.
2) person 2 - agar vo thoda risk le sakta hai or jada nahi but aik better return generate karna chahta hai like inflation se 2x yani indian me 6-7% inflation hai to agar vo avg 12-15 % return generate karna chahta hai to vo term + health+ MF SIP kar sakta hai.
3) person - high risk high return chata hai fir vo stock market + mf+ heath + term ye sab leke apne goal ko achieve kar sakta hai.
Ye to ho gya persons ke behavior ke upper risk lene ki shanmta per but agar goal base planning karni hai to hame alag alag sari cheeze sochne padti hai.
Isliye mera suggestion hai ki aap log kisi financial planner ke pass jake apni financial planning karwaye bajaay influence ke pass jane ke kyu jitne social media influencer hai vo sab commission, sponsorship and course bechne ke liye aapke mind ke sath khelte hai or aapki financial planning to chodo aapko pagal bnake khud paisa kama lete hai.
So apne financial planner ke pass jake help le.
Thank you.
How to change a term plan ? Is it okay to lapse and buy a new one ?
I suggest to get the full amount and put fixed deposit in bank or post office.. will get monthly interest.. we need to inform to our family about this..
Not a good decision considering TDS
Ma'am video is little late i already brought term insurance.
Whether policybazaar is safe or they just marketing??
Yes absolutely safe
Great Service You are Doing. ALL THE BEST
Keep continue your Service.
Early insurance me ham 20 sal ka premium bhi to jyada paid kar rahe hai....like we need not but wearing a sweater in summer...
Hello Madam, What happens if someone buys Term insurance at a young age without any pre-existing illness (say diabetes) but dies after 20 years due to diabetes (which was developed after he bought insurance), then would that claim be settled?
yes no issue then. just make sure to select good insurance company
Yes no issues. Claim will be settle. Feel free to ask anything
Hi Mam,
I wanted to know whether can we take term plan with multiple company and is there any limit ?
Please share video on the above query...
Yes, you can take term plans with multiple companies without any limit.
Pls analyse jeevan umang lic plan and the budget implication of 5 lakh premium cap detsils
There are more riders like.. accidental, disability, critical ilness.. do we need all?
I love watching your video explanation is so clear in financial.
Pay 18000 for 25years or pay 8000 for 50 years which one is better??
There are many benefits to paying limited premiums which could include
1. Premium payments end within a short period
2. Better tax benefits if the S80C limit is not fully used
If you are able to manage your other living expenses along with the premiums to be paid then there is no harm in opting for the same.
Also let us know from where to buy term insurance by online ?? Else by visiting any branch office
Hi what if i already have term insurance and that time i was not aware about yearly incremental in sum assured, what should i do?
Khupach Chan explained Madam...like to banata hai...
Thank you for watching!
Nice madam, but you missed about premium payment whether it should be done in 5 , 10 or 20 years which is better?
As recently as last month i got denied insurance because i told them i had psoriasis twenty years ago!!
While taking policies there is no any pre-existing deseas but after that when we admitted and detect diabetes. Will it cover and how we prove that the deseas was not earlier.
Madam which term insurance you brought
Please suggest me,is it ok to get term insurance from policy bazaar
We need to mention our health insurance details or enough only our life insurance details ?
I saw you in Live | Google For India Event in New Delhi .
Not sure if existing policy holders can get top-up. Any idea if Max Life has this option for existing policy holders ?
At present, max life give three time to top up..at mairrage, first child and second child
Are we getting a video on whether to buy SGB on 27th December?
Good skit... brilliant... हे चालू ठेवा...
I am not able to open trading account because my bank details are on maiden name and aadhar card is marital name. None of the apps like zerodha, angel one etc have option to upload marriage certificate, for clarifying name change for ladies
Hi, you didn't talk about age. What shud be the ideal maturity age for term insurance
Ma'am how we can vary our Sum insured I have a policy and i don't know how to do that. Can I do it now after buying it?
What about Accident rider ? Should it be taken besides critical illness rider?
Madam if a person attains age 18 he takes a term insurance policy he was a non smoker and becomes a smoker after 2 year's / now what he should do now because he became a smoker and he should inform to the insurance company and take a new policy or the earlier policy shall be continued and his legal heirs shall get the claim in the future if the proposer died during the policy period or the claim will be rejected - please explain or clarify...
I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks. I believe having 75K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities
Even with the right technique and assets some investors would still make more than others, as an investor, you should've known that by now, nothing beats experience and that's final, personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I'm buying again
Hi, please who is the expert assisting you and how do I reach out to them?
The broker I'm in touch with is
*ASHLEY AIRAGAHI . I came across her in a Bloomberg interview and got in touch with her. You can use something else. For me, her strategy works hence my result. She provides entry and exit point for the securities I focus on
Same here, i will praise Mrs Ashley over and over again because she has great skills, i started with $2,400 and after 2week i received a returns of $9,150 then i continue with her ever since she has been delivering.
Please how can I contact Mrs Ashley ? I really like what she has done for you, and I also want to benefit from it.
रचना ताई ही माहिती मराठीत पण सांगितले तर खूप मदत होईल
Very good. Informative.
Good content.... but i have few questions in my mind that are combined for health and Term insurance-
1. The term insurance is taken by breadwinner of the family and if that person takes critical illness rider also still only that person of the family will be covered. Say his spouse/child/any other dependent get suffered from critical disease then this critical illness rider is of no use. Isn't it better to take critical illness rider with floater family health insurance so dependents also get benefitted. Another point is portability because the critical illness rider may not be available with other company term plan.
2. A person (say Raman) has annual income of 10 lacs and he is of 30 year old at the time of taking Term insurance with 1 crore cover amount for 30 year (i.e. his policy will expire when he attain age 60). He paid the premium on time every year and he dies at the age of 50. Now will company settle claim of 1 Crore rupees or they will calculate Human Life Value (i.e. based on the pending working life income) then accordingly they will settle reduced claim. I didn't find any clear illustration despite of reading many policy document. Can you answer or better to create a detailed video on this?
can a person buy 2 term insurance policy ?
Racha what about multiple term insurance is it correct or wrong. How to go about if u have already taken.
What if diseases got to know after 5/10 years of term insurance ?
What is the reason indigo paints hits the 52 week low?
tell me onething when my grandparents were only buying gold just gold and lands why would we need this kind of insurance thing? !
Madam, in the course of your studies, will you please try & do some great research to find some working solutions to tackle India's inflation ?
Noted.
sir pahle se hi term plan le rakha hai aur car loan lete samay bhi life insurance liya, to kya bank death k baad usi insurance se amount settaled karegi ya nominee ko term insurance ka paisa milne ke baad usme se legi
Hey @CA Rachana, Could you advise if in the case if both partners are working - do they have to buy term insurance for both?
In India trend is changed ,previously husband, head of family was working so normally term insurance was brought by husband. Now both are working.
Also previously options in Term plan were less , incase of insured death sum assured was given.
Now u have options like one policy which caters Term plan, investment growth thru mutual fund, hospitalization and critical illness.
also women insurance is cheaper than men . so recommendation is taking term plan for both depends on your goal. women plan can be used for legacy creation with less premium. and male insurance for risk cover
I like the way you explain everything. Very honest and useful information 😊
Hi Madam, I have one question, I have heart Problem and I tried to take term insurance but no company is providing me buz of my heath heart porblem, in this case, if I will die what I have to do so my family will not face any problem
Hey Madam, Can u help me here, I know it is spam msg.
Hie madam
मी आताच ULIP PLAN buy केला आहे 6 month jale...TATA AIA SMART SAMOOORNA रक्षा. तर मी हा प्लॅन CONTINUE TEU KA नको PLZ SUGGEST
baby....yes bank toh 92 chal giya tha raatbhar mein.....abhi 20 kiyun cross nahiy kar paa raha hein ? Bahut hosiyaar banti hein kkiyun ?
What if the person does not know about any existing diseases?
Premium at 20 = 7k, premium at 40 = 18k. But I would have already paid (7k x 20) = 1.4 lakhs by the age of 40. By this logic, taking the insurance at 40 only, makes sense.
how does insurance company know its a pre-existing condition?
My wife detected with Asthma after 2years of buying term insurance. What I need to do?