Insurance policy?
hi, i am a 32 year lady from india.. i am a working women..i enjoy a chiild of age 1 year. i wanna take a insurance policy for him as a planning for his adjectives..please guide me wheater i should go for the traditional insurance policy provided by LIFE INSURANCE OF INDIA ( LIC) or to progress for some private insuracne company like, MAX NEW YORK LIFE INSURECE, OR BAJAJ-ALIANZ OR TATA -AIG...existence insuracne?? i am confuse..please guide me for what to be in motion and which life insurance policy ..pilfer care that the insurance provider must be from INDIA. THANKS
Answers:
LIC or any other insurers in india requests to get licenced from Insurance Regulatory and Development Authority(IRDA). IRDA will check the operation of adjectives insurance company's performance and Solvency. i.e., No problem if you insure next to LIC or any private insurers. Next, You got a child of age 1. it mode your requirement of money is long run. It may be from 15 to 20 years after which you need money for your children. Better to choose Unit Linked Insurance Policies. In long run it will distribute better results. Check the results of various companies which are performing powerfully through the different sources. In long run Market will diffenitely progressing. But better to take the decission previously, Best wishes.
starting i warning you to take 2 policies .
1, for you next to your son as your nominee to meet any contingency surrounded by case you die . this policy will also be a form of nest egg for you in adjectives . plan this policy such that it matures when your child is prepared to go to collage or get married or so.
2,read this well pinch a child linked policy . that your go is insured and the money is paid to your child contained by case you die when the child is 18 or so. once you die near is a clause that says that no premium requirements to be paid till the child is 18
but dont verbs it will not happen
Hi, This is massively nice to know that I you are interested in a energy insurance policy for your child. Up to my knowledge you must be considered going on for your child's education plan.
you hold following options
1) Invest within any saving plan any Mutual funds/ post office/ bank FDs
2) Life Insurance on your child
3) Insurance on your/ your husband's natural life.
This is you to who has establish:
My Suggestions:
a) If you want maximum returns with assurity of deposits you must stir for post office scheme.
b) if you have practice of Mutual funds [MFs] you should go for ULIPs or Direct MFs.
c) you will grasp maximum benefits by taking a policy on your/ your husband's life.
Private or LIC of India
No doubt LIC have completed 50 yrs in the sector of Life insurance and is back with Government of India. But private players are also offering dutiful plans. IRDA is the monitering organization on adjectives these life insurers.
* AMP Sanmar, A pvt time Insurer had closed its business near in 2yrs.
The best is first you prefer for the parameters you want for your adjectives then walk ahead.
About Me.
Life Insurance Advisor for LIC of India form last 5yrs.
This is an experience I am giving you.
Have insured with LIC, even though their office are dirty and their employees are little shabby, this is the lone company which follows the regulator guidelines.
When I bought a product from a private co. I was told that I enjoy to pay 10,000 for 3 yrs and I will obtain back more than 50,000, but to my shock I didn't even receive the amount salaried.
Private co., are fleecing the unaware customers.
Be sensible in select the company.
All Insurance companies enjoy a variety of policies. I would recommend you to go for a possession policy or money back policy for 25 years; as may suit you.
i am mentioning 25 years residence, because by then you may retire or effective retirement and your son will reach almost independent status.
money subsidise policy will provide you with change in between, which you can use of son's instruction. nowadays childhood is becoming very expensive.
All providers are govern by insurance regulatory authority of India. However, the returns differ, and there is no guarantee that returns will follow suit next to historical performance.
investment surrounded by mutual fund is not an alternative for insurance.
the objectives are different.
Hence do not compare them on the basis of returns for making decision.