Should I go for critical illness rider along with term insurance?

Subodh Founder of Dhanwise
Answered Nov 1, 2019

Before I answer your question, let us discuss what a 'critical illness rider' offers:"Critical illness riders payout a lump sum if the insured person is diagnosed with a… ( more )

Before I answer your question, let us discuss what a 'critical illness rider' offers:"Cri… ( more )

Which is the best company for insurance plans?

Subodh Founder of Dhanwise
Answered Oct 22, 2019

Hi Gopinath,Before I answer your questions, I want to clarify 2 things:Term and life insurance are one and the same.LIC is the name of an insurance company. There are ma… ( more )

Hi Gopinath,Before I answer your questions, I want to clarify 2 things:Term and life insu… ( more )

Review of Bajaj Allianz Early Retirement Plans - LongLife Goal

Subodh Founder of Dhanwise
Answered Sep 16, 2019

Recently you would have seen ads on TV and radio by Bajaj Allianz for their early retirement plans with the tag line “Why wait for tomorrow mujhe jeena hain today!”I wil… ( more )

Recently you would have seen ads on TV and radio by Bajaj Allianz for their early retirem… ( more )

How does room rent limit affect claims in health insurance policies?

Subodh Founder of Dhanwise
Answered Sep 11, 2019

Lets consider this extract from the policy document of health insurance policy issued by New India Assurance.The document talks of "proportionate deduction". This i… ( more )

Lets consider this extract from the policy document of health insurance policy issued by … ( more )

Should I go for top up health insurance from the same provider as my base insurance policy?

Subodh Founder of Dhanwise
Answered Sep 11, 2019

To answer your question I spoke with a few financial advisors and also tried to dig up details online.I am assuming that you have compared the exclusions and room rent l… ( more )

To answer your question I spoke with a few financial advisors and also tried to dig up de… ( more )

How to compute tax liability of life insurance proceeds at maturity?

Subodh Founder of Dhanwise
Answered Sep 4, 2019

Payout received form a life insurance policy i.e. sum assured plus any bonus, may or may not be taxable.According to Section 10(10D) of the Income Tax Act, the payout is… ( more )

Payout received form a life insurance policy i.e. sum assured plus any bonus, may or may … ( more )

What is a top up health insurance? How does it work?

Subodh Founder of Dhanwise
Answered Aug 28, 2019

Unlike normal health insurance plans, the top up health insurance plans kick in only after your hospitalization costs have crossed a certain threshold. This 'threshold' … ( more )

Unlike normal health insurance plans, the top up health insurance plans kick in only afte… ( more )

Is LIC Jeevan Labh a good investment for 10 years?

Subodh Founder of Dhanwise
Answered Aug 23, 2019

Jeevan Labh is a typical endowment plan which combines insurance and investment.You invest a fixed amount each year for a certain period (premium paying term) After the … ( more )

Jeevan Labh is a typical endowment plan which combines insurance and investment.You inves… ( more )

Shoud I surrender my LIC Jeevan Anand Policy?

Subodh Founder of Dhanwise
Answered Jul 29, 2019

As explained in this answer - Are endowment plans like LIC's Jeevan Anand a good investment option?, the policy combines insurance and investment. it However it&nbs… ( more )

As explained in this answer - Are endowment plans like LIC's Jeevan Anand a good inv… ( more )

What is the difference between fee-only and commission based advisors?

Subodh Founder of Dhanwise
Answered Jul 16, 2019

There is a lot of confusion about the fees paid for financial planning services in India, mostly because there are a variety of business models, each of which charges cl… ( more )

There is a lot of confusion about the fees paid for financial planning services in India,… ( more )

Which term insurance plan is suitable for me?

Govind Founder of Leap Investment Advisors
Answered Jul 16, 2019

From hierarchy of things perspective, insurance (Pure Term life cover) forms the base layer. Ideally, once you are done with this, you should start planning for other th… ( more )

From hierarchy of things perspective, insurance (Pure Term life cover) forms the base lay… ( more )

Is LIC's new tech term plan better than other term plans of private insurers?

Srinivasan Software Pro Turned Investment Advisor
Answered Jul 14, 2019

Mohammed - the simple answer is, Yes, this 'tech term plan' does look attractive and would be a serious challengers to the online term plans from private insurers. Howev… ( more )

Mohammed - the simple answer is, Yes, this 'tech term plan' does look attractive and woul… ( more )

What is a pure term plan?

Srinivasan Software Pro Turned Investment Advisor
Answered Jun 29, 2019

This is a good question. 'Term Plan' is a life insurance plan that is valid for a specific number of years. Hence the word 'term'.  In this plan, you pay a premium … ( more )

This is a good question. 'Term Plan' is a life insurance plan that is valid for a specifi… ( more )

Which LIC policy to invest in for guaranteed pension?

Srinivasan Software Pro Turned Investment Advisor
Answered Jun 29, 2019

Note: This response does not give the name of any policy, LIC or otherwise.Many people in India miss a very important factor about the structure of pension products in&n… ( more )

Note: This response does not give the name of any policy, LIC or otherwise.Many people in… ( more )

Are endowment plans like LIC's Jeevan Anand a good investment option?

Viral Financial Planner & Founder of MoneyMantra
Answered May 17, 2019

Every year, thousands of buyers invest in traditional insurance plans, lured by the triple benefits of tax deduction at the time of investment, life cover during the pol… ( more )

Every year, thousands of buyers invest in traditional insurance plans, lured by the tripl… ( more )

Is HDFC Life Sanchay Plus a good plan to invest in?

Srinivasan Software Pro Turned Investment Advisor
Answered Jun 18, 2019

I would provide a quick response.  All the investment-cum-insurance products are bad in both counts - they typically have very low insurance coverage and give subop… ( more )

I would provide a quick response.  All the investment-cum-insurance products are bad… ( more )

How to evaluate term insurance coverage and price?

Brijesh Fee Only Planner & Founder of BVare Financial Planners
Answered Jun 6, 2019

There are 3 aspects to this question: The Sum Assured i.e. What is the insurance cover that you need?. Is 5 Cr a sufficient amount? The Policy Term i.e. How many yea… ( more )

There are 3 aspects to this question: The Sum Assured i.e. What is the insurance cover… ( more )