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Insurance Jaroori Hai
Your Income Might Get Wasted Away
Unless You Turn it into Lifelong Wealth
- That’s Why
Insurance Jaroori Hai
When I see people struggling to earn a living or cutting down on expenses at the end of the month, I help them identify the gap in their money-making and money-spending habits. Money is a vibrant and dynamic entity, impatient in its stride. Therefore, it is necessary to ensure that you nurture its growth wisely. Therefore, as an insurance agent, I aim to ensure you have lifelong support for the money you earn.
I offer personalized insurance advice to my clients to help them live stress-free. The insurance covers I offer will be easy to understand as I clarify several doubts and explain every part of the plan. You don’t need to come pre-educated about technical terms. I will explain everything to you and keep it simple.
- Our Services
Services to Safeguard Your Present and Future
Ongoing Plans for Your Child’s Education
How and what to invest in your children’s education, so they never have to compromise on their career dreams.
Distant Future Marriage Plans for Your Child
Choose an investment plan that secures your child’s future for marriage that can cover them in the 10 to 15 years to come.
Plans for Your Journey: Life Insurance
In the unfortunate event of losing you, your family members will need financial sustenance. Life Insurance is their lifeline after you.
Safeguard Your Lifestyle: Health Insurance
How to select health insurance? I can help you in choosing the best cover plans for your health issues and escalated medical expenses.
Valuable Company Asset: Key-man Insurance
Afraid of losing a key employee who brought all the connections and profits to your company? Worry not, the Key-Man Insurance Plan can help you recover the loss of a valuable asset.
Use Your Money Wisely: Wealth Management
Enjoy the wealth you have accumulated over the years. I can help you wisely channel your gains by sorting out your investments and planning.
Your Permanent Break: Retirement Plans
Is a retirement solution necessary? One can’t solely depend on their children to look after them. We have a different journey to embark on. Allow your retirement to be your new adventure.
For Selected Employees: Employee Insurance
Help your employees benefit from the sum assured at the end of their tenure while you pay the premium amount. Attract new talent, boost employee morale, and get tax benefits.
Prepare for the Unexpected : Accident Insurance
Accidents too are what they are: accidental situations that turn into a financial burden for the victim and the family. Rely on me to help you with the right plan.
Why is Life Insurance Needed?
Life insurance is a financial tool designed to provide security to your family members and loved ones after you have passed away. Applying and acquiring life insurance coverage includes the following benefits:
- Leave an income for your dependents to rely on without having to depend on anyone else.
- After you are gone, life insurance can help your loved ones cover living expenses, pay off debts, and plan future financial goals like education or marriage.
- Other financial burdens like funeral costs, etc. can be covered by life insurance based on the sum you are assured.
- Your family can live a financially secure life with peace of mind after you are gone.
Get to know your life insurance options now
Why is Health Insurance Needed?
Life is unexpected and it comes with the twists and turns of unanticipated health issues. Health issues come with high medical costs that cannot always be covered, which is where health insurance plays a significant role.
- Cover a huge part of medical expenses, preventing sudden illness or injuries from draining your finances.
- Avoid dipping into your savings or going into debt by using health insurance to specifically address minor medical procedures that can cost thousands of Rupees.
- Health insurance substitutes for your worries so that you can focus on getting better.
- Get access to cashless hospitalisation, where your insurer pays for the medical facility directly. This eliminates the upfront financial payment that is expected on your arrival at a hospital.
- You could also cover preventive care services like screenings and checkups to identify potential health issues and avoid future expensive treatments.
Get to know group insurance options now
Why should companies avail of group insurance?
There are several reasons why companies should avail of group insurance:
- To attract and retain top talent.
- Employees can be reimbursed for medical expenses.
- Premiums paid for group insurance are often tax-deductible as a business expense, providing significant tax savings for the company.
- Improves employee morale and satisfaction with a more positive work environment.
- Group insurance plans offer lower premiums for employees compared to individual plans.
FAQs
Life Insurance
Health Insurance
Keyman Insurance & Employee Insurance
Life Insurance
This depends on your financial situation and if you have dependents.
You must consider factors such as your income, debts, dependents’ needs, and future goals. These factors can determine the right amount of coverage.
- Term insurance: offers coverage for a specific period.
- Whole life insurance: provides lifelong coverage while accumulating cash value
- ULIPs or Unit Linked Insurance Plans: Combines insurance with market-linked investments
Premiums paid up to Rs 1.5 Lakh per year qualify for tax deductions as per Section 80C of the Income Tax Act. Under certain conditions, even maturity benefits are tax-exempt.
It is important to educate your family members about the process involved in claiming the insurance upon your passing.
- They must notify the insurance company’s claim department.
- Fill out the death claim form.
- Attach an attested photo ID and address proof.
- Send the form to the insurance company’s office.
- Gather all the required documents.
- Return the completed form, insurance policy, and death certificate to the life insurance company.
Life insurance policies may offer you as riders, accidental death benefits, waiver of premium on disability, and so on. However, these riders are available for an additional premium.
Yes, you can cancel your life insurance policy either within the free-look period, that is 15-30 days of activating the plan, or by surrendering the policy after paying for the surrender charges.
The minimum age to apply for term life insurance is 18 years while the upper age limit is 65 years.
Health Insurance
- Indemnity plans: This plan reimburses medical expenses
- Benefit plans: Offer a fixed benefit amount for hospitalisation
The coverage for pre-existing conditions may be limited initially but waiting periods apply.
A co-payment refers to a fixed amount you share with the insurer for the medical expenses covered.
Check the company’s claim settlement ratio which indicates the percentage of claims settled by the insurer. If the ratio is high, that is, above 80%; it suggests that the insurer has better claim settlement practices.
Yes, most health covers are renewable. However, their premiums do increase with age.
This is variable but at present, premiums paid up to Rs 75,000 for yourself and Rs 25,000 for dependent parents (senior citizen parents: up to Rs 50,000) can qualify for tax deductions under Section 80D.
Consider your age, budget, health, coverage needs, and network hospitals while choosing an appropriate health plan.
Network hospitals are where the insurer can settle bills directly and where cashless hospitalisation is offered.
Keyman Insurance & Employee Insurance
In a company, there is always a set of employees who prove to be major assets. Their work performance is what defines the year’s ROI. In events such as the death of such an employee or a keyman, the company is liable to suffer from financial losses if they are not able to find an equal or better replacement. Therefore, keyman insurance protects businesses from incurring financial losses due to the death or critical illness of a key employee.
The employer pays the premium and is the beneficiary of the plan.
- 10 times the keyman’s annual compensation package, including the salary, bonuses, and perks.
- 3 times the company’s average gross profit over the last three years.
- 5 times the company’s net profit of the previous three years.
The factors include:
- The target employee’s contribution to the business.
- The financial impact of their absence.
- The cost of finding, recruiting, and training a replacement.
- The size of the business, industry segment, and financial needs.
The employee with critical skills and who holds vital positions crucial to scaling the business is the key man.
The keyman insurance plan is an employer-driven process that involves giving a clear communication of what the plan possesses.
The employee may have to fill up enrollment forms and may have to contribute to the premium the plan requires. There are many other processes involved, for which you connect with us to learn more.
The employer has to keep the employee informed about the plan through:
- Creating an online portal where all the information is available.
- Provide brochures, videos, and presentations, explaining the plan’s benefits, network hospitals, and claim procedures.
- Communicate plan changes, if any.
As an employee, morale and retention are improved because they have access to healthcare and other benefits. This reduces the financial stress for the employees and allows them to focus on their work and well-being. They feel valued and carry a sense of peace while being present and engaged at work.
Get In Touch
- +91 9319177511
- sidharth@insurancejaroorihai.com
- www.insurancejaroorihai.com
- 1030, First Floor Near St. Anthony School Sector-9, Faridabad
