Top 4 secrets to know before buying term insurance in India | 2023 | CA Rachana Ranade
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- Опубліковано 12 лип 2024
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Whenever discussions around term insurance happens, a flurry of questions come to our minds like:
- Till what age should I take the term cover?
- I am getting 20x of my income as a cover! Should I take it all?
- I have heard a lot of a Zero cost term insurance. Does it really make sense?
- There are so many riders in a policy. Which ones should I opt and which ones should I drop?
Answers to all these questions will be discussed in today’s video.
The information contained in this video is presented purely for information purposes only provided as a service to the internet community at large. It does not constitute insurance advice and we do not guarantee the information's accuracy, adequacy, or completeness.
🔴10:40 Please do your own research before taking any decision. The appropriateness of any policy differs from person to person.
What is covered?
00:00 - Introduction
00:54 - What is an ideal maturity age of the policy?
03:45 - What is an ideal cover for a term plan?
08:05 - Should I buy a Zero Cost term plan?
10:56 - Should I add riders to my term plan?
13:31 - Conclusion
#rachanaranade #sharemarket #terminsurance
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Hi Rachana Madam, I know you will not reply me but if you can please. My one of the friend he experiencing heart problems because no company has provided him a health insurance/term insurance In this situation, what should he have to do ?
Thank you,
Paresh Sahare
If your bike is more than 150cc they will reject your claim.
Very useful vlog ma'am..🙏❤️
Madam, which insurance you have taken
Mam, now a days I observe the contents to be very much promotional/sponsored. Your objective of financial freedom by adding knowledge is getting low
Afterall she also has to earn bread and butter.
@@feddythechamp she can buy a small size bread and butter factory
@@feddythechamp same story everywhere. It's useless blaming others.
@@feddythechamp better you focus on learning something else don't watch.
She has a big team to prepare the quality content and requires to do promotions to pay salary and expenses. Try to understand, she is not govt. funded
Today Mr. Chandu & Mr. Bandhu clear all my doubts about term plan. Splendid elaboration of term plan by Rachana ma'am.
One point i wanted to add here on critical Illness rider is that some insurance providers has clause that they have to survive for 30 days to receive this critical illness amount which is missed by lot of people while buying insurance
Thank You so much Ma’am, This video is very helpful and it gives different perspective to term insurance.
I understood that who needs a term cover,why he needs and what amount should be.
Thanks 😇
You nailed it. Your unique explanation is an eye-opener for both newcomers and fellows already in the market
Labour Law Advisor has uploded video on May 17, 2023 and she copy paste it . . . isko to chor bhi nahi keh sakte kyonki iske followers CHUTIYA hai
Illustrations are really good and demonstrated very well.
understood very well about the Zero cost and implications.
thanks a lot Rachana Ji.
That is one interesting perspective... I was about to but TI... now am recalculating.. Thanks :)
Point 1 was really mind opening.. never thought so easy thing ❤
Hello Maam', i am soo glad i came across your channel.Thank You for making such informative and easy to understand videos.
Brilliant explanations.. Simple to understand..Appreciate..
Informative as usual and animation team 😊 rock as always
Hii Madam, Thanks for increasing our awareness and knowledge day by day. Could you please make a video on purchasing the rider plans which we can buy separately not with a term plan? I personally took a pure-term plan from LIC and would be interested in buying the accidental rider going forward. Thanks in advance
Labour Law Advisor has uploded video on May 17, 2023 and she copy paste it . . . isko to chor bhi nahi keh sakte kyonki iske followers CHUTIYA hai
Nice english with a marathi touch. thank you. i watched before i advice my son on this policy.
Very informative video. More info and comparison on riders required..Riders are relatively expensive, separate personal accidental policy comparatively better..
One has to evaluate specifics of each policy and decide.
Thank you for such an imp key points...
Thanks and Amazing skill want to learn more with you .
Excellent video advising on age factor and rider policies ❤ Please share some thoughts as what will happen if the insurance company we chose gets closed in 30 years time ?
If any private company willing to wind up its business, then they can’t do as and when they wish. There are some regulations to it also. If any company willing to wind up an insurance business then it has to merge with a new company and then bail it out of this business. In this way, an insurance company can’t close business and run away from the responsibility towards an insured person.. Therefore, when it comes to insurance regulation, including LIC all companies are equal and have to adhere to rules of IRDA. Hence, without any hesitation, you can buy an insurance product with private insurers too.
Hope with these strict regulations it is hard for any company to wind up its business overnight.
Thank you very much for your wonderful videos and enlighting with knowledge for viewers like us..
Your way of explaining is very good 🙂
I have set my preference as below after some initial re-search, let me know anything need to re-assessed or need to be considered.
1. I am taking policy with no return of premium, i prefer lowest premium possible, also want to pay off premium in next 10-15 years (Work in Software industry, not sure how long will work 😀).
2. I am planning to take coverage till the age of 60 (My daughter will be 27 by then).
3. Sum assured is enough to take care of house hold and education of my daughter.
4. Haven taken critical illness and disability rider.
Thank you Ma'am for your valuable information . God bless you .
I was perplexed with Zero Cost Term insurance. Your explanatory video really helped me understand the difference.
Very well explained Mam, Thank you so much❤
Always correct thanks for Awareness
It can be a legacy amount also if you take it for long term but premium paying capacity should be planed
Hats off to you Rachana mam, your ideas and knowledge sharing helps comman man a lot. Thanks again for this video. This provoked me to subscribe to your channel and follow you.
Thank you!
Retooling oneself is important to stay relevant. Hopefully people can learn and increase investments.
Claim settlement ratio is another aspect one must consider before taking a term insurance.
Can you please discuss about "medical insurance" policies. Wheather term or with return on maturity, etc. Thanks.
Excellent information. Thanks for sharing this information
Beautifully defined for a common man to understand easily
Ma'am, please share you views onto specific policies like cancer, heart insurance. Since their premium are cheaper. And also the benefit that they offer as compared to taking a rider policy in term plans. Looking forward towards your inputs
Not quite right decision. You will end up paying higher premium. Having a general health insurance makes more sense.
Thnak you for re-doing vidoes on important topics like this. Especially since the information get outdated.
Like, Many including this Channel still do videos on topics like "renting is better than buying a buying an apartment". Yet, its not vaild since last year since rent especially in city like bangalore has skyrocketed!.
Anyway thans for the video!
Very informative ..Shubh Diwali 🎇🪔
Great and informative . Anticpating detailed video.
Thank you!
This video is excellent education on Term Insurance. Loved it .
Your Videos are very useful. Thanks !
Thank you very much maam. This was a very informative and eye opener for me esp when I was deciding to take a term insurance. Looking forward to such informative videos in future.
Thank you so so much ma'am..
Now a very important concept is cleared.
Hi
I would like to more about the annuity plans....in NPS.....how does the annuity plan works in NPS...
It will very useful if you guide on this topic
I like all your videos...
Thanks
Virtual brokers also gets huge brokerage without spending much money...
But individual agents life is not like that....
Hi. Very informative video. Thanka. Pls also highlight and provide information on premium payment mode like limited pay premium or regular one. Thanks
Thank u for explaining in a simplified manner,,,
One question is if a person
' X 'n his wife both r employed...is it really needed to take a term policy by X?
Cover some points in which conditions claim can be reject in term plan. Also data how many claims rejected and what was the major causes. So that customer can ask before taking term plan
Thankyou ma'am for sharing your knowledge and time with us.
Hi Rachana - Good details on Term Insurance, can you please help on Health Insurance as well.
Very informative thank you
Thanks for guidance ma'm
Ma'am aap bahut badiya explain karte ho....keep on ...
Thank you
A few things need to be clarified:
Critical illness coverage will only be given if doctors confirm that the person will not survive more than 180 days from the day diagnosis started.
Also, clarify on increased sum insurance and spouse benefit. What are the points to be considered to choose a company?
What are the reasons for claim rejection other than false information?
How could IRDAI or the government help to settle a claim if the company holds it?
Is there any condition for the companies to pass a claim in a particular time frame?
Thanks mam for your beautiful and amazing explanation. 🎉❤
Good Information
Thanks a lot for your information..
Excellent video....I just called my advisor today for term plan and having watched it made me feel I will take a wise decision.
best video on term insurance over the youtube. pls makr vdo on comparison best term plan provider....
Wow ! What an interesting way to explain complicated issues in a simplified manner. Great Job, Rachana.
Thank you for your feedback 🙂
Thanks Ma’m for this video..amazing explanation…
Request to make video on Health insurance as well..thanks🙏🏻
Very well explained ma'am . thanks
That GST factor was a new thing!!! I didn’t know that
Very informative video mam . Thank you very much
Mam, it's a Great learning today
Best content ever! Super informative 👏
Thank you!
@@CARachanaRanade should we pay term insurance premiums fast or slowly For. Eg 87000 /year for 10 years or lesser in 20 years,which is better
Mind and eye opener video❤
Thank you rachna... Video was very helpful
Really extraordinary and extremely valuable content. Everyone must watch this vedio.
Madem could you suggest us we like a common man where should I buy term Insurance or how do I know types of critical illness.
Hi mam,
You forget to cover 1 imp thing in this video is now days Insurance company are allowing zero premium term plan and any premium we are paying is invested by insurance companies in Equities with combination we chose. For example: TATA AIA term plan invest in their own shares and we can redeem/surrender that policy any time i.e. there is no lockin to surrender.
So isn’t that a great policy with following benefits:
1. Zero premium with invested in equity
2. No lock in to surrender your policy
3. Many other are there
Thanks mam for this video 🙇🏻
Very good perspective. Convencing.
Finally a good video after soo much time!👍🏻
Myopic view on the science of income assurance, replacement of human enterprising worth in terms of income. Scope of Life Insurance is much much more than covered in this video
Only term insurance covered
Thanks Rachana Madam for very important information about Term life insurance
Mam please make a video on DEFFERED TAX LIABILITY. How it is treated in accounting and how to analyse while investing
Madam also make a vedio on how to invest simultaneously after taking the term plan to make our term plan cost zero at the time of completion of the term plan..if possible then pls try to make a vedio on this topic also..😊
Wow.. Very nicely explained 👏🏻👏🏻
Hi Ma’am thanks you for manning such informative video. Can you please help us share information about how NRI’S can take term plan in india including all necessary details. It will be really helpful thank you 🙏
Hello sir yes NRI's can take term policy
Great 👍 so informative
Thank you
Brilliant analysis ❤
Thank you!
Very nicely described, Good
what a great way to explain
Excellent presentation 👍
Thank you!
Pl inform about the claim value rejection ratio.Companies may tend to reject bigger Sum assured cover.
Madam,
What about theaffect of the networth of the person for the family with a term insurance beyond 60 years as this can have an impact on the family members willingness to take care of the old aged parents
Great mam. 👍 BUT Critical illness payment only after he/ she survive more than 30 day's after detection... Pl check & confirm. Thanks
Hi Madame, I've seen your videos and its very informative and useful for people like me., thank you for the great work and i hope by the number of views your time is well rewarded. Thank you again for the entire team,.
Execllent Rachna Maam👌👌plz throw some light on the corpus generated in the head of EPF ??suppose there are 10 years remaining for retirement from a pvt job.,what shud be approach pertaining to this EPF corpus??
One correction- The critical illness rider doesn't just give out money when diagnosed with disease like cancer. It has to be at a certain severity level that the person doesn't have much hope to survive. Now suppose mr. Chandu has been diagnosed with stage 1 cancer, he doesn't get the money. But if he is in stage 4, he gets the money.
No,money is given at diagnosis on any level
@@drneetukushwaha9783Whether the money received would be the total insured amount (say 1cr total term plan) or the critical illness amount (say 5lakhs )?
Incase of accident the insurance company has trick. If your bike is more that 150cc they will deny reject the claim @rachana
Very nice information mam 🙏
WONDERFUL JOB RACHNA
We have heard that adding riders can complicate the term claim, how true is that?
If the 0 cost plan is of the same cost as normal plan, is it advisable to take?
1 - I have not seen any such case.
2 - It would not be possible in the first place.
thanking you sir
Hi i was watching your vides since the lockdown and all those contents are super good thanks for that.
I have a doubt on term insurance for a long time, what if the insured company gets into bankrupcy then how come will our policy stil has value or will it get transfered to some other insurer or what happens there? explanation in breif could help.
A query - can sum assured of Rider be different (low or high) from the basic sum assured of the term plan?
Low sum.insured
Thanks for video on term insurance. Unfortunately some middle age people stuck with some LIC policies that are not profitable. Please suggest it will be good idea to surrender them.
There are various factors which differentiate one policy from other. One has to evaluate themselves and take a decision.
Please make a video on the new RBi rule that we need to produce bills while selling gold. In india gold is accumulated from childhood till a marriagable age in such cases how does RBi expects us to preserve bills. Now tgis is the assest we can sell fir immediate money . What are the options applicable? Pl highlight.
Nice explanation!!!
Thanks for info madam
I don't think GST is 18%. It 4.5% in first year and 2.25% in subsequent years. But your point is well taken
18./. GST
@@venugopalramasamy4533Please verify before commenting. I recently took a policy for my son and GST is 4.5/2.25%. 18% is not applicable for everything
@@2615Prasad For Life Cover option GST is 18% and For Life Cover with RETURN OF PREMIUM it's 4.5% for 1st yr and 2.25% on subsequent years. For NRI GST's will be waived Off ✌
Informative
Good One !