Best life insurance agent / consultant in Kothrud – MustInsurance

All you ever needed to know about the Pradhan Mantri Bima Yojana Details The Government of India has come up with many social security schemes for individuals and households in order to provide financial security. Pradhan Mantri Bima Yojana is mainly introduced with an objective of providing financial protection against illness, accident or death, specifically for an underprivileged and uninsured section of the society. There are mainly two Bima Yojanas introduced by the Modi-led government. You can apply for Pradhan Mantri Bima Yojana online through authorised bank’s net banking facility. Let’s take a look at the various Pradhan Mantri Bima Yojana available for enrolment. Pradhan Mantri Suraksha Bima Yojana Pradhan Mantri Suraksha Bima Yojana is introduced by the Government of India to provide accidental death coverage to larger uninsured section of the society. Highlights of Pradhan Mantri Suraksha Bima Yojana Any Indian citizen between the age of 18 years and 70 years can enrol into this scheme Individual must have a savings account from where he can give consent to auto-debit the premium amount The policy is issued for one year period starting from 1st June to 31st May of the next year. Yearly renewal can be done. You can also opt for long-term enrolment with auto-debit of […]

A Complete Guide To Endowment Policy With profits or participating plans Life insurance plans come in many different variants. Broadly, life insurance plans are classified under two heads –Traditional plans are those which promise guaranteed returns whereas under unit linked plans the returns depend on the performance of the market.Traditional plans can be of different types and one such type is an endowment policy. Do you know endowment policy meaning? If you don’t here’s a complete lowdown on endowment insurance plans.What is an endowment plan? An endowment policy is a life insurance policy which helps you in creating guaranteed savings for your financial goals. The plan has a death benefit and also a maturity benefit. In case of death of the insured during the term of the policy, a promised death benefit is paid. Moreover, if the insured survives till the end of the policy tenure, a promised maturity benefit would be paid. Thus, endowment insurance plans cover both death and maturity and help in creating savings. Types of endowment policy Endowment plans can be offered in two variants which are as follows –Or Without profits or non-participating plans With profits plans are those which earn bonus. If the insurance company earns a profit in the financial year, the profit […]

Personal accident insurance – coverage that you must buy Accidents have become quite common in today’s age. Whether it is a simple fracture or a major burn or a road accident, you might face severe physical disabilities. When accidents occur, they result in a substantial cost in treatment and recovery. Moreover, in the case of permanent disabilities or death, you lose your ability to work and incur a loss of income. While health insurance policies cover the medical costs associated with accidents, accidental deaths and disablements are not covered. Here is where a personal accident insurance policy comes into the picture. Here is a complete lowdown on accident insurance and why you need it. What is personal accident insurance? A personal accident insurance policy is a plan of insurance which covers accident-related contingency. If you suffer from any of the covered contingency, the plan pays a lump sum benefit which helps you in dealing with the financial loss suffered due to the contingency. Types of personal accident insurance plans Personal accident insurance plans can be of two types which are as follows – Individual personal accident plan Under this plan, one individual is covered under the policy. Group personal accident […]

Top 10 Health Insurance Companies in India Today’s age is the age of technology where medical treatments have become advanced and cutting edge. There are treatments for most chronic illnesses too and so life expectancy has increased. However, though medicine has advanced, it has also become expensive. Affording quality healthcare has become financially distressing in modern times. Moreover, as life expectancy has increased, so has the incidence of illnesses. You, therefore, need a health insurance plan to cover the rising costs of medicine and protect yourself financially in a medical emergency. In India, there are more than two dozen health insurance companies which offer a range of health insurance plans for your needs. There are different types of health insurance plans offered by these health insurance companies. Let’s have a look at the different types of health insurance plans which you can find – Types of health insurance plans in India: Indemnity Health Insurance Plans: This type of plans pay only for the expenses incurred during hospitalization. Individual health insurance policies– Individual health insurance plans cover a single person. The plan has a single coverage amount or sum insured which can be utilised by the insured individual for his medical costs. […]

All you need to know about whole-life insurance plans Who doesn’t like the security of being covered lifelong when the life insurance policy doesn’t have an expiry date? Whole life insurance policies promise such lifelong coverage and much more. Let’s understand how – What are whole life insurance plans? Whole life insurance plans are those plans which provide coverage until you reach 99 or 100 years of age. Thus, these plans essentially run for your entire lifespan if you die before reaching 100 or 99 years of age. Salient features of whole life insurance plans Whole life insurance plans which are available in the market have some salient features which are as follows: These plans can come in different variants. These variants include the following – Pure protection plans, also known as Term Insurance Planswherein only a death benefit is paid whenever the insured dies before attaining 100 years of age Endowment plans wherein coverage runs till 100 years. In case of death, a death benefit is paid if the insured survives till 100 years of age, a maturity benefit is also paid Money-back planswherein regular money back benefits are paid after the completion of the premium paying tenure. The benefits are paid […]