Correction at 09:30 - If a person is detected with a critical illness then he will receive an additional payout immediately after he is detected with such disease which are mentioned in the list of critical illness rider. After detection of the disease the documents are to be filed for claiming the additional payout.
The volatility in the market is alarming. How can i diversify my reserve across multiple markets while creating a comprehensive portfolio allocation that balances my concerns of risk aversion and returns that meet yearly inflation? I mean I've heard of people making up to $300k weeks during this crash and I'd like to know how.
You have to get a financial-advisor/broker to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings.
@@tradekings5433 I agree, my profit has been quite consistent, regardless of market situation, I got in early 2019 and the constant downtrends and losses discouraged me so I sold off, and got back in Dec 2020 this time with guidance from a portfolio adviser that was commended by a famous economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my investment adviser
One of the important point I would like to mention here is that I desperately tried to buy a term insurance but in the process of getting one, I realised that companies basically ask for salary sheet or bank statements to calculate eligibility criteria for claim. In my case I was eligible only for 25 Lakhs (from LIC). Most youth fall in my category hopefully so it's bit saddening no matter how much premium we afford for good claim, it lies in the companies hand to decide what our value is.
SAME PROBLEM WITH ME..I HAVE BUSINESS INCOME OF ONLY 2LAKH AND 5LAKH OTHER INCOMES..BUT THEY CONSIDER ONLY 2LAKH AND I AM ONLY ELIGIBLE FOR 30LAKHS SUM ASSURED...EVEN THOUGH I HAVE TOTAL INCOME OF 7 LAKH..SO I GAVE UP TAKING A TERM PLAN.
टर्म इन्शुरन्स घ्यावा, कसा घ्यावा हे सगळेच सांगतात. पण कोविड मध्ये खुप लोक गेली, बऱ्याच लोकाना lic क्लेम मिळाले पण एखाद्याला टर्म इन्शुरन्स क्लेम मिळाला हे कधी कानावर नाही आलं. टर्म वाल्यांचा क्लेम सेटलमेंट रेट किती आहे? खरच हे किती लोकाना पैसे देतात यावर एक वीडियो बनवा. 🙏🏻🙏🏻🙏🏻🙏🏻
Har koi bol raha jaldi le lo at age 20, but koi ni bata raha ki premium high hoga agar aap 7 laak above salaried employees nahi ho aur bahut kam cover milega...lagbhag aadha cover.
I'm new to stock market /Crypto and would like to invest but I've go no idea on how to make good profits. Pls what's the best approach you'd recommend?
@@Eugeneronnie9274 Indeed crypto is the best investment, Earning3x my salary soon I won't have to work anymore..women should start taking part in these kinds of digital investment
There are essential things you have not covered in your video like paying out the term insurance per year or paying out early in 5 years or 10 years if the cash flow into one's earnings was good to make sense to finish the commitment early if somebody starts late paying at 35-40 years timeline. Some insurers could not want to pay out till 65 to keep the term valid till 85 years. So based on the above scenario, we are not sure who is beneficial, whether it is an insurer or an insurance company in real terms. Appreciate your input in this instance!
There are many benefits to paying limited premiums which could include 1. Premium payments end within a short period 2. Better tax benefits if the S80C limit is not fully used If you are able to manage your other living expenses along with the premiums to be paid then there is no harm in opting for the same.
Critical illness rider is a very good suggestion because illness can hit anytime, pandemic is proof of that. However please note that Critical illness rider will double your premium. That's what Edelweiss Tokio told me. If there's a cheaper option, please suggest that.
Hi madam, Kashe ahaat ? My question is, if I have multiple life cover policies, will all the sum assured be given to nominee? Example, 1> I have an endowment policy and the company provides 25L life cover without additional premium. 2> I have 3 bank saving accounts suppose, each bank provides Rs 2L cover to all account holders, total of 6L cover. 3> I buy a term policy for 35yrs 1Cr. 4> I go for Pradhan Mantri Jeevan Jyoti scheme Rs 2L. Total of 1-4 policies is 1.33Cr. When the policy holder dies, family has 1 set of original document (death certificate, etc.). Will the family get 1.33Cr sum assured, by intimating all 4 companies? Or only 1 policy benefit with max. Cover (here 1Cr) and others become null or all benefit of 1.33Cr (suppose in this example policy holder with 10L income can apply max. upto say 3Cr life cover as per IRDA regulations with persons record mentioned in CDSL repository and 1.33Cr is well within 3Cr). Please clarify !
Hi madam, Kashe ahaat ? My question is, if I have multiple life cover policies, will all the sum assured be given to nominee? Example, 1> I have an endowment policy and the company provides 25L life cover without additional premium. 2> I have 3 bank saving accounts suppose, each bank provides Rs 2L cover to all account holders, total of 6L cover. 3> I buy a term policy for 35yrs 1Cr. 4> I go for Pradhan Mantri Jeevan Jyoti scheme Rs 2L. Total of 1-4 policies is 1.33Cr. When the policy holder dies, family has 1 set of original document (death certificate, etc.). Will the family get 1.33Cr sum assured, by intimating all 4 companies? Or only 1 policy benefit with max. Cover (here 1Cr) and others become null or all benefit of 1.33Cr (suppose in this example policy holder with 10L income can apply max. upto say 3Cr life cover as per IRDA regulations with persons record mentioned in CDSL repository and 1.33Cr is well within 3Cr). Please clarify ! ±919000820953
INR 7000 at 20 is much much much bigger than 18K at 40. If you understand the power of compounding, you will understand this fact...something even these wise influencers don't seem to understand...
Yes, 7000 per month for term insurance in age 24-25 when salary is like 40000 is difficult compared to 15000 in age 35 when salary is above 1 lac is easier.
I recently talked to ditto it is regarding the last mistake u mentioned , he said after 2 years of taking term insurance we will get sum assured irrespective of any disease whether it is pre existing or not. minimum criteria is to pass first 2-3 years .
Don't trust this platforms as their intentions are to sell the policy, but the insurance company will be at the time of disperse can hd your claim...so it's best to be as authentic as possible....
Companies go for respective medical test while giving term insurance so nowadays it's difficult to get a policy by hiding any information. If anyone have pre-existing medical conditions in that case insurance company will reject insurance proposal or will give a hefty counter offer.
Thank you mam, for this informative video. I have two questions 1. What if at the time of purchasing insurance, we don't know have knowledge of any pre-existing disease as no symptoms has showed till date. 2. What if a company has rejected/postpone my term insurance plan due to any medical reason.
Two important questions 1) What is the rule of term insurance for a non-smoker who takes the insurance but later turns to smoking, how he can update the policy, or shall take new one 2) what shall be the ideal timeframe for sum insurance 65yrs (75yrs) or 90yrs I am just 44yrs boy, I have term insurance until 65yrs would this beed to extend? Company didn't allow any modification in last 5yrs
Answers to your queries 1. Insurers do not allow change of plan mid-term from smoker to non-smoker plans. Also, some insurers do not consider non-smoking status unless it was given up for more than five years. In case you meet this requirement, you could opt for a new term plan 2. Ideal time frame could be up to 65-70 years.
Answer is if you are applying as a non smoker and later started smoking, in that case company have all the right to reject the claim if death happened due to smoking reasons.
@CA Rachana Phadke Ranade few questions need answer for clearity How to insure any provision while taking Term insurance that sum assured must adjust as inflation increases. Provision for 50% payout + monthly payout.
Hello, Rachana Mam I'm 17 years old boy from Surat, Gujarat. I wouldn't say I like to study from my commerce books about finance, I always go to your channel and other financial creators' channels or to some other books to Study and understand Finance (Lots of love to you😊, Thanks for creating this fantastic Content) and ya I watched your 3 Videos about Basics of Stock Market that you published for us and after watching that videos I started investing in Equity form Young Age, Thanks for sharing everything Mam 😇😇🤗🤗
I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks. I believe having 75K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities
Even with the right technique and assets some investors would still make more than others, as an investor, you should've known that by now, nothing beats experience and that's final, personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I'm buying again
The broker I'm in touch with is *ASHLEY AIRAGAHI . I came across her in a Bloomberg interview and got in touch with her. You can use something else. For me, her strategy works hence my result. She provides entry and exit point for the securities I focus on
Same here, i will praise Mrs Ashley over and over again because she has great skills, i started with $2,400 and after 2week i received a returns of $9,150 then i continue with her ever since she has been delivering.
Mam which is best for long term? Health Insurance or Term Insurance or Life Insurance? I think thousands of people are still have doubts that which insurance is best for them in long term if they are between 25 to 35.
@@deepaklakhotiya768 yes right and after watching so many videos I can say that one should have Health insurance and term insurance and SIP in mutual funds if pocket allows.
Avoid .antics ... It's does not add value.. you have excellent knowledge and good analytical abilities.. antics make it look like non serious.. it's good to .ake money from viewership only
The information provided about the critical illness rider is incorrect. The cover amount under critical illness rider is paid out when the person is diagnosed with one of the critical illnesses listed in the policy document, and not when he dies. The purpose of the rider is to assist the person's family in treating him/her.
Correct ... But let's appreciate madam for creating awareness. Unfortunately a lot of people don't take it seriously. Besides death - few worse conditions to be in are - permanent disability - critical illness A small incremental premium if a person is still healthy can really go a far way during crisis
There is a minor correction in the video - If a person is detected with a critical illness, he will receive an additional payout to manage his hospital expenditure.
Very good information thank you Rachana mam... but i have a doubt that "what if have Disease come _after taking the policy" .. we have to inform to them or exactly what ??? please reply mam
There are many benefits to paying limited premiums which could include 1. Premium payments end within a short period 2. Better tax benefits if the S80C limit is not fully used If you are able to manage your other living expenses along with the premiums to be paid then there is no harm in opting for the same.
Hi Rachana, I like your videos but not happy with this one. 1. First and foremost, one should go for term insurance only if you have dependents and not enough wealth(at least 40x of your current yearly spending’s). Else not required. 2. If you can manage your finances well. Better invest the monthly/ yearly premium until you really have dependents. 3. It doesn’t matter the premium increase as you age. It will increase only according to inflation. If you can invest the so called less premium during your early years and take insurance say at 30 when u have dependents. Excess premium can be easily covered by the returns earned by the investment you have been doing until now. 4. Amount of coverage should be decided based on your yearly spending’s and not based on your salary. 5. Say you earn 10L but 5L is your spendings. Make sure you have cover for at least (25x of your spendings - Your current investments) 6. Don’t go for auto coverage increase plan. 7. Instead, Assess your coverage every 5 yrs. apply same formula as above and see where you stand. If you are fortunate and your corpus has substantially increased, you may not need to increase your coverage. In the end, be judicious and decide on what is required for you at that date and time. Make sure you invest the amount you saved on premiums wisely to increase your wealth.
Sir I am 35 years old and taken max life term plan just 1 month premium paid but I am now in a confused state after seeing their social media pages there are so many complaints regarding various issues so should I continue with my term plan or should I stop paying the premium.I am a railway employee and my wife and son depends on me.Please answer ASAP Sir
Good explanations! The Ditto bit was quite useful, not useful, but a god send. Try out the premium calculator etc, i was going to take a 85 yr plan, then Ditto suggested not much useful, and i saved tons of money taking insurance to 65 yrs, which is more than enough. Please talk about this. Thanks!
I have checked various term plans in different insurance providers. While considering the premium amounts in Max and HDFC life, I was surprised to notice that opting for 40 lacs of current payout costs higher premium than that of opting for 50 lacs. Why so?
Good content.... but i have few questions in my mind that are combined for health and Term insurance- 1. The term insurance is taken by breadwinner of the family and if that person takes critical illness rider also still only that person of the family will be covered. Say his spouse/child/any other dependent get suffered from critical disease then this critical illness rider is of no use. Isn't it better to take critical illness rider with floater family health insurance so dependents also get benefitted. Another point is portability because the critical illness rider may not be available with other company term plan. 2. A person (say Raman) has annual income of 10 lacs and he is of 30 year old at the time of taking Term insurance with 1 crore cover amount for 30 year (i.e. his policy will expire when he attain age 60). He paid the premium on time every year and he dies at the age of 50. Now will company settle claim of 1 Crore rupees or they will calculate Human Life Value (i.e. based on the pending working life income) then accordingly they will settle reduced claim. I didn't find any clear illustration despite of reading many policy document. Can you answer or better to create a detailed video on this?
The problem with the monthly payout option is you have to depend on insurance company for life time and who knows they will provide monthly payout each month for the lifetime or not.what if they find any excuse or escape way in future so better if we choose lumpsum option and get rid of these types of fear
Hello Madam, What happens if someone buys Term insurance at a young age without any pre-existing illness (say diabetes) but dies after 20 years due to diabetes (which was developed after he bought insurance), then would that claim be settled?
Which plan is better a term plan or endowment plan ? Why people talks about only taking a life insurance with endowment plan but not a term insurance plan ?
Hi mam am beginner I have a question for you mam whenever I sit to trade I start getting scared mam that is the reason am not able to trade what shall I do mam plz help me
Brother any idea like international term insurance policy company .Zurich insurance company and MetLife company is which one is best company to buy insurance plan from UAE Dubai .
For the 5th mistake If the person paid the premium for three years continuously, as per Section 45 of insurance act. The insurance companies they cannot reject a claim if a fraud is discovered after a three-year period.
Hi Madam, I have one question, I have heart Problem and I tried to take term insurance but no company is providing me buz of my heath heart porblem, in this case, if I will die what I have to do so my family will not face any problem
Earlier is not better also? Age of 20 and max term duration ends the cover up to 60 years But at the age of 40 same max term duration covers up to the age of 80. So definitely premium varies and better coverage.
Hi Rachana, I really love watching your videos😊 They are so damn informative. Thank you for making India financially strong by giving them financial knowlegde especially womens of india. We are so grateful to have a financial mentor like you. I humbly request you to record a video on LIC investments/policies as many of the agents are doing scams especially on poor village people. So that there is awarness among people about LIC agents which are manipulating people with unnecessary premiums. I hope you will record it soon. Loads of love & best wishes🙏😊
I suggest to get the full amount and put fixed deposit in bank or post office.. will get monthly interest.. we need to inform to our family about this..
While taking policies there is no any pre-existing deseas but after that when we admitted and detect diabetes. Will it cover and how we prove that the deseas was not earlier.
How earlier is better.....if i start at 40 then I will have to pay till 60 for 20year only....in case i start at 20 I will have to pay for 40years.....so total paid premium will be same Right
I am not able to open trading account because my bank details are on maiden name and aadhar card is marital name. None of the apps like zerodha, angel one etc have option to upload marriage certificate, for clarifying name change for ladies
Madam if a person attains age 18 he takes a term insurance policy he was a non smoker and becomes a smoker after 2 year's / now what he should do now because he became a smoker and he should inform to the insurance company and take a new policy or the earlier policy shall be continued and his legal heirs shall get the claim in the future if the proposer died during the policy period or the claim will be rejected - please explain or clarify...
In India trend is changed ,previously husband, head of family was working so normally term insurance was brought by husband. Now both are working. Also previously options in Term plan were less , incase of insured death sum assured was given. Now u have options like one policy which caters Term plan, investment growth thru mutual fund, hospitalization and critical illness. also women insurance is cheaper than men . so recommendation is taking term plan for both depends on your goal. women plan can be used for legacy creation with less premium. and male insurance for risk cover
Hey Rachana, can you help me answer this scenario... If at the time of taking term insurance(1crore payout) there were no habits like boozing and smoking (Person ABC - AGE 28) ....after a few years (Person ABC- AGE 35) have started boozing... my question is If person ABC dies at 40 where he has children wife and parents as his dependents, will the payout be done in full if it is a natural death...what should be the steps taken by ABC in this scenario
It was great informative video for all new people... Kudos to you. I have had already considered all your advices appx 6 years ago when i was 31 years old for 6.4Cr value.. but additionally I opted premium payment term as 5 years for 40 years policy which is eliminating risk of missing any single installment in long term and BP/Diabetes issue arisen at later stage of life..
@@mangeshsutar1932 Paying more premiums but only for lesser time, not for full insurance period. In this case only premium is paid only for 5 years. Even if insured for 40 years.
You have taken very high cover and wasted your money, seems some agent scared you 😅😅😅. You can always invest additional money in index funds equities and that also is a cover.
Hi Rachna great Work Keep Going 👏👏. I want to know Should I buy refundable Term Insurance or Non Refundable Plan. Please explain Aspect and Impact of both.
I have one term insurance, I need to purchase one more. Shall I purchase same company insurance or different company. Is there any issue if purchase two diff. Insurance from diff company. Please guid
Hi Mam firstly i always appreciate your work and this too is an eye opener. a lot of other channels also present a general view regarding the same but avoids to target the terms and conditions listed with the policy documents. regarding the riders for the term plan don't you think as they are all connected to the base policy will be coming with a lot of terms and conditions which need to be fulfilled exactly in the way they are mentioned in the plan otherwise it may happen so that later on when the illness actually happens the claim may not be passed. instead don't you think a comprehensive critical illness plan would be much benefited and it's too a complex one to go through. i understand it would be a costly affair but it would be surely a great deal compared to a rider..just because the premium remains fixed throughout the policy term of the term plan we cannot ignore about the policy terms and conditions which people usually avoid to read and later on repent on their decisions. I think the video of your is really good enough for creating awareness among the society but i also think that you should very well make us all aware to go through the complex policy company terms and conditions. I hope you will also address this vital point in your coming videos as hardly anyone has touched upon these... see you soon.. stay blessed
These things are applicable when we are taking term insurance.. but if anyone has already taken a term insurance then how he can amend the things like shown in this video
Hi Rachana, Khup chhan info... Even if we provide wrong info about pre-existing disease but the term policy is always based upon the premedical health check ups. Am i right? In short policy provider is always aware of such pre-existing diseases if any. So whether correct info is provided or not shall not be the criteria while making the claim settlement. Please share your view.
I need an Important advice Mam, In a pre scanner device, I have shown oral cancer Symptoms. Shall I reveal it to the insurance company? It’s not been officially confirmed though… Shall I buy term insurance without revealing this info? I can take advantage of critical illness rider then. Like no scan was conducted!! Need an expert advice, please avoid commenting if you only know half things….
I have purchased a term insurance plan from Bharti Axa Life Insurance company in January 2022 without any rider from policy bazar. Now I realised This is not a good insurance company and poor customer service . Now should I close this policy and choose another insurance company and continue with current policy? Please suggest me right path.
It’s bullshit to have the person who is taking insurance made responsible for not disclosing pre-existing conditions. What if the person doesn’t even know ? Why let him pay premium only to reject at the end ?
always see the insured company claim settlement ratio ex tata AIA ,good ratio 99% or above. Normally as per age company suggest medical checks before buying the policy . and it is moral responsibility of insured person to put on paper the maximum known medical history to the advisor or company person while filling the form so claims r not rejected. Once the policy is approved by under writer normally claims r not rejected. and if rejected thru TPA u can fight for why?
And what about the HLV? Human Life Value in financial terms? You do realise that when you are below 35 your income multiplier is 30. That is to say if you are earning 15LPA (when you are 34) then you are eligible for a Term Cover of 4.5CRORE. Whereas if you are earning 25LPA (your are 46) then you are only eligible for Term Cover of 3.75CRORE. It's better to ensure early to have BENEFITS of REDUCED PREMIUMS, Riders comes at nominal rates, LESS MEDICALS as compared to when you are in 40's or 50's, and ENHANCED COVER.
Does every insurance will be applicable for NRI as well, i assume if a person took insurence (India companies) in one X country will that can be claimed in india?
The only prb is will these companies will claim their term insurance amount to the nominee or they can reject it saying some useless reasons, dieases, etc. Also it’s just to be given on death. So that means death can be of any type. Will that also be given???
I have watched in some other video that it is always better to add as much add-ons in health insurance and keep the term insurance plain and simple just for life insurance and nothing else. I think that is the better option. Any suggestion??
Health insurance premiums would go up YoY, the term insurance ones typically are fixed. So IMO, take the add-ons on term insurance instead of health, specially for critical illness.
Nice video , one question : can only nominees / dependants will be covered under the plan , can we later change the dependants after a few years without surrendering the plan ?
I have an important question, can you please help me answer that ? My financial advisor told me that after 7 years of taking the policy, even if the insurer dies due to a pre existing disease (and it was not disclosed earlier) then also the company cannot reject the claim. Is that true ?
If I increase my term insurance coverage after 3 year then my 3 year period will reset and i will loose advantage of section 45 of insurance act. Usually i provided all information in term insurance. But section 45 makes assurance that term insurance company donot find any loophole in my policy. even though all pvt company claim ratio are good but still they reject claim in first 3 year wrt after 3 year. So,In this case should we increase our coverage and risk advantage of section 45. Or Opt different policy
Correction at 09:30 - If a person is detected with a critical illness then he will receive an additional payout immediately after he is detected with such disease which are mentioned in the list of critical illness rider.
After detection of the disease the documents are to be filed for claiming the additional payout.
Hindi marathi madhe banva same video
Yes. The payout option is for accidental death rider
What happens if a persion becomes diabetic after 5 yrs of taking a term insurance ? Should the person voluntarily inform the insurance company ?
@@kalpesh_pawar Tula Term Insurance policy copy Marathi madhe naahi detat
Mam, But where and when can I get the list of that critical illness?
The volatility in the market is alarming. How can i diversify my reserve across multiple markets while creating a comprehensive portfolio allocation that balances my concerns of risk aversion and returns that meet yearly inflation? I mean I've heard of people making up to $300k weeks during this crash and I'd like to know how.
You have to get a financial-advisor/broker to aid you diversify your portfolios to include commodities, inflation-indexed bonds and stocks of companies with solid cash flows, as opposed to growth stocks where valuations were based on future potential earnings.
@@tradekings5433 I agree, my profit has been quite consistent, regardless of market situation, I got in early 2019 and the constant downtrends and losses discouraged me so I sold off, and got back in Dec 2020 this time with guidance from a portfolio adviser that was commended by a famous economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my investment adviser
@@emilybrown2719 Please can you leave the info of your investment advisor here? I’m in dire need for one
@@ladymariangray The advisor I use is Susan Agnes Hancock, she's verifiable, so you could just search her.
@@emilybrown2719 Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals and scheduled a call
One of the important point I would like to mention here is that I desperately tried to buy a term insurance but in the process of getting one, I realised that companies basically ask for salary sheet or bank statements to calculate eligibility criteria for claim. In my case I was eligible only for 25 Lakhs (from LIC). Most youth fall in my category hopefully so it's bit saddening no matter how much premium we afford for good claim, it lies in the companies hand to decide what our value is.
This is to safeguard themselves against suicide claims I guess
SAME PROBLEM WITH ME..I HAVE BUSINESS INCOME OF ONLY 2LAKH AND 5LAKH OTHER INCOMES..BUT THEY CONSIDER ONLY 2LAKH AND I AM ONLY ELIGIBLE FOR 30LAKHS SUM ASSURED...EVEN THOUGH I HAVE TOTAL INCOME OF 7 LAKH..SO I GAVE UP TAKING A TERM PLAN.
टर्म इन्शुरन्स घ्यावा, कसा घ्यावा हे सगळेच सांगतात. पण कोविड मध्ये खुप लोक गेली, बऱ्याच लोकाना lic क्लेम मिळाले पण एखाद्याला टर्म इन्शुरन्स क्लेम मिळाला हे कधी कानावर नाही आलं.
टर्म वाल्यांचा क्लेम सेटलमेंट रेट किती आहे? खरच हे किती लोकाना पैसे देतात यावर एक वीडियो बनवा. 🙏🏻🙏🏻🙏🏻🙏🏻
Har koi bol raha jaldi le lo at age 20, but koi ni bata raha ki premium high hoga agar aap 7 laak above salaried employees nahi ho aur bahut kam cover milega...lagbhag aadha cover.
I'm new to stock market /Crypto and would like to invest but I've go no idea on how to make good profits. Pls what's the best approach you'd recommend?
Exactly, at the moment bitcoin is the best and profitable coin to buy and invest in..
@@Eugeneronnie9274 Indeed crypto is the best investment, Earning3x my salary soon I won't have to work anymore..women should start taking part in these kinds of digital investment
Wow I'm just shocked some one mentioned expert Mrs Evelyn Vera name i thought I'm the only one trading with her
How does this Bitcoin stuff work, I am interested and willing to invest heavily as I have heard too many testimonies
Wow!! Impressive you trade with Mrs Evelyn Vera too! I thought people don't know her that well.... She's really awesome!
There are essential things you have not covered in your video like paying out the term insurance per year or paying out early in 5 years or 10 years if the cash flow into one's earnings was good to make sense to finish the commitment early if somebody starts late paying at 35-40 years timeline. Some insurers could not want to pay out till 65 to keep the term valid till 85 years. So based on the above scenario, we are not sure who is beneficial, whether it is an insurer or an insurance company in real terms. Appreciate your input in this instance!
There are many benefits to paying limited premiums which could include
1. Premium payments end within a short period
2. Better tax benefits if the S80C limit is not fully used
If you are able to manage your other living expenses along with the premiums to be paid then there is no harm in opting for the same.
Critical illness rider is a very good suggestion because illness can hit anytime, pandemic is proof of that. However please note that Critical illness rider will double your premium. That's what Edelweiss Tokio told me. If there's a cheaper option, please suggest that.
Hi madam, Kashe ahaat ? My question is, if I have multiple life cover policies, will all the sum assured be given to nominee? Example, 1> I have an endowment policy and the company provides 25L life cover without additional premium. 2> I have 3 bank saving accounts suppose, each bank provides Rs 2L cover to all account holders, total of 6L cover. 3> I buy a term policy for 35yrs 1Cr. 4> I go for Pradhan Mantri Jeevan Jyoti scheme Rs 2L. Total of 1-4 policies is 1.33Cr. When the policy holder dies, family has 1 set of original document (death certificate, etc.). Will the family get 1.33Cr sum assured, by intimating all 4 companies? Or only 1 policy benefit with max. Cover (here 1Cr) and others become null or all benefit of 1.33Cr (suppose in this example policy holder with 10L income can apply max. upto say 3Cr life cover as per IRDA regulations with persons record mentioned in CDSL repository and 1.33Cr is well within 3Cr). Please clarify !
Hi madam, Kashe ahaat ? My question is, if I have multiple life cover policies, will all the sum assured be given to nominee? Example, 1> I have an endowment policy and the company provides 25L life cover without additional premium. 2> I have 3 bank saving accounts suppose, each bank provides Rs 2L cover to all account holders, total of 6L cover. 3> I buy a term policy for 35yrs 1Cr. 4> I go for Pradhan Mantri Jeevan Jyoti scheme Rs 2L. Total of 1-4 policies is 1.33Cr. When the policy holder dies, family has 1 set of original document (death certificate, etc.). Will the family get 1.33Cr sum assured, by intimating all 4 companies? Or only 1 policy benefit with max. Cover (here 1Cr) and others become null or all benefit of 1.33Cr (suppose in this example policy holder with 10L income can apply max. upto say 3Cr life cover as per IRDA regulations with persons record mentioned in CDSL repository and 1.33Cr is well within 3Cr). Please clarify ! ±919000820953
INR 7000 at 20 is much much much bigger than 18K at 40. If you understand the power of compounding, you will understand this fact...something even these wise influencers don't seem to understand...
Fact bro... That's what I was thinking!
Yes, 7000 per month for term insurance in age 24-25 when salary is like 40000 is difficult compared to 15000 in age 35 when salary is above 1 lac is easier.
it's 7k per year
🎉@@lazy_wolf_unofficial
I recently talked to ditto it is regarding the last mistake u mentioned , he said after 2 years of taking term insurance we will get sum assured irrespective of any disease whether it is pre existing or not. minimum criteria is to pass first 2-3 years .
Don't trust this platforms as their intentions are to sell the policy, but the insurance company will be at the time of disperse can hd your claim...so it's best to be as authentic as possible....
@@kiranhon7894 very true
Yes section 45 of insurance act me bi yhi likha hai
Companies go for respective medical test while giving term insurance so nowadays it's difficult to get a policy by hiding any information. If anyone have pre-existing medical conditions in that case insurance company will reject insurance proposal or will give a hefty counter offer.
@@vineetgoyal8681 section 45 gives certain power to both company and consumer read it properly
Thank you mam, for this informative video.
I have two questions
1. What if at the time of purchasing insurance, we don't know have knowledge of any pre-existing disease as no symptoms has showed till date.
2. What if a company has rejected/postpone my term insurance plan due to any medical reason.
Policy buy karte vaqt company ko bolo apke medical compulsory kar le. Jisse bhi aap policy le rahe h. Usko bolo.
Your senses of humour is just osm and the way you explain things it's quite well thanku for your valuable knowledge
Two important questions
1) What is the rule of term insurance for a non-smoker who takes the insurance but later turns to smoking, how he can update the policy, or shall take new one
2) what shall be the ideal timeframe for sum insurance 65yrs (75yrs) or 90yrs
I am just 44yrs boy, I have term insurance until 65yrs would this beed to extend? Company didn't allow any modification in last 5yrs
Answers to your queries
1. Insurers do not allow change of plan mid-term from smoker to non-smoker plans. Also, some insurers do not consider non-smoking status unless it was given up for more than five years. In case you meet this requirement, you could opt for a new term plan
2. Ideal time frame could be up to 65-70 years.
@@CARachanaRanade ur first point answer is different what he ask..... He ask if non smoker become smoker
Answer is if you are applying as a non smoker and later started smoking, in that case company have all the right to reject the claim if death happened due to smoking reasons.
If policy started as Non smoker and then updated as smoker, will this 3 years period (IRDA section 45) start again? just like after adding rider???
Madam Ji, What to do with Polyplex now ~24% ⬇️ hold, sell or add❓️
@CA Rachana Phadke Ranade few questions need answer for clearity
How to insure any provision while taking Term insurance that sum assured must adjust as inflation increases.
Provision for 50% payout + monthly payout.
Whether policybazaar is safe or they just marketing??
Yes absolutely safe
Which insurance is available for alimony? Divorce is expensive in India.
Hello, Rachana Mam I'm 17 years old boy from Surat, Gujarat. I wouldn't say I like to study from my commerce books about finance, I always go to your channel and other financial creators' channels or to some other books to Study and understand Finance (Lots of love to you😊, Thanks for creating this fantastic Content) and ya I watched your 3 Videos about Basics of Stock Market that you published for us and after watching that videos I started investing in Equity form Young Age, Thanks for sharing everything Mam 😇😇🤗🤗
varacha thi me.bhai
@@user-nt3dn4lk9y ohh good bhai mal ya koi devas
@@Kaushil__ age ? tari
17 CHE BHAI
@@user-nt3dn4lk9y 17 age che
I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks. I believe having 75K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities
Even with the right technique and assets some investors would still make more than others, as an investor, you should've known that by now, nothing beats experience and that's final, personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I'm buying again
Hi, please who is the expert assisting you and how do I reach out to them?
The broker I'm in touch with is
*ASHLEY AIRAGAHI . I came across her in a Bloomberg interview and got in touch with her. You can use something else. For me, her strategy works hence my result. She provides entry and exit point for the securities I focus on
Same here, i will praise Mrs Ashley over and over again because she has great skills, i started with $2,400 and after 2week i received a returns of $9,150 then i continue with her ever since she has been delivering.
Please how can I contact Mrs Ashley ? I really like what she has done for you, and I also want to benefit from it.
Mam which is best for long term?
Health Insurance or Term Insurance or Life Insurance?
I think thousands of people are still have doubts that which insurance is best for them in long term if they are between 25 to 35.
Life insurance and term insurance ek hi bat h
@@deepaklakhotiya768 yes right and after watching so many videos I can say that one should have Health insurance and term insurance and SIP in mutual funds if pocket allows.
@@kapilsharma1293 no worries you can ask me anything, I am from this industry last 7 years
Term plan and health insurance both are important
Avoid .antics ... It's does not add value.. you have excellent knowledge and good analytical abilities.. antics make it look like non serious.. it's good to .ake money from viewership only
We like antics
The information provided about the critical illness rider is incorrect. The cover amount under critical illness rider is paid out when the person is diagnosed with one of the critical illnesses listed in the policy document, and not when he dies. The purpose of the rider is to assist the person's family in treating him/her.
Correct ... But let's appreciate madam for creating awareness. Unfortunately a lot of people don't take it seriously. Besides death - few worse conditions to be in are
- permanent disability
- critical illness
A small incremental premium if a person is still healthy can really go a far way during crisis
There is a minor correction in the video - If a person is detected with a critical illness, he will receive an additional payout to manage his hospital expenditure.
Making a mistake in a video about a mistake itself 🤣🤣 oh the irony
Very good information thank you Rachana mam... but i have a doubt that "what if have Disease come _after taking the policy" .. we have to inform to them or exactly what ??? please reply mam
In monthly payout option how the interest part calculated?
Pay 18000 for 25years or pay 8000 for 50 years which one is better??
There are many benefits to paying limited premiums which could include
1. Premium payments end within a short period
2. Better tax benefits if the S80C limit is not fully used
If you are able to manage your other living expenses along with the premiums to be paid then there is no harm in opting for the same.
Hi Rachana, I like your videos but not happy with this one.
1. First and foremost, one should go for term insurance only if you have dependents and not enough wealth(at least 40x of your current yearly spending’s). Else not required.
2. If you can manage your finances well. Better invest the monthly/ yearly premium until you really have dependents.
3. It doesn’t matter the premium increase as you age. It will increase only according to inflation. If you can invest the so called less premium during your early years and take insurance say at 30 when u have dependents. Excess premium can be easily covered by the returns earned by the investment you have been doing until now.
4. Amount of coverage should be decided based on your yearly spending’s and not based on your salary.
5. Say you earn 10L but 5L is your spendings. Make sure you have cover for at least (25x of your spendings - Your current investments)
6. Don’t go for auto coverage increase plan.
7. Instead, Assess your coverage every 5 yrs. apply same formula as above and see where you stand. If you are fortunate and your corpus has substantially increased, you may not need to increase your coverage.
In the end, be judicious and decide on what is required for you at that date and time.
Make sure you invest the amount you saved on premiums wisely to increase your wealth.
Sir I am 35 years old and taken max life term plan just 1 month premium paid but I am now in a confused state after seeing their social media pages there are so many complaints regarding various issues so should I continue with my term plan or should I stop paying the premium.I am a railway employee and my wife and son depends on me.Please answer ASAP Sir
Good explanations! The Ditto bit was quite useful, not useful, but a god send. Try out the premium calculator etc, i was going to take a 85 yr plan, then Ditto suggested not much useful, and i saved tons of money taking insurance to 65 yrs, which is more than enough. Please talk about this. Thanks!
Ditto is already waste
@@raghavendraoraghu3349 Is it? Maybe, but got good insights on their website..Saved me a lot of money while others were recommending expensive plans
I have checked various term plans in different insurance providers. While considering the premium amounts in Max and HDFC life, I was surprised to notice that opting for 40 lacs of current payout costs higher premium than that of opting for 50 lacs. Why so?
Good content.... but i have few questions in my mind that are combined for health and Term insurance-
1. The term insurance is taken by breadwinner of the family and if that person takes critical illness rider also still only that person of the family will be covered. Say his spouse/child/any other dependent get suffered from critical disease then this critical illness rider is of no use. Isn't it better to take critical illness rider with floater family health insurance so dependents also get benefitted. Another point is portability because the critical illness rider may not be available with other company term plan.
2. A person (say Raman) has annual income of 10 lacs and he is of 30 year old at the time of taking Term insurance with 1 crore cover amount for 30 year (i.e. his policy will expire when he attain age 60). He paid the premium on time every year and he dies at the age of 50. Now will company settle claim of 1 Crore rupees or they will calculate Human Life Value (i.e. based on the pending working life income) then accordingly they will settle reduced claim. I didn't find any clear illustration despite of reading many policy document. Can you answer or better to create a detailed video on this?
The problem with the monthly payout option is you have to depend on insurance company for life time and who knows they will provide monthly payout each month for the lifetime or not.what if they find any excuse or escape way in future so better if we choose lumpsum option and get rid of these types of fear
Go for Reputed and big banks
Hello Madam, What happens if someone buys Term insurance at a young age without any pre-existing illness (say diabetes) but dies after 20 years due to diabetes (which was developed after he bought insurance), then would that claim be settled?
yes no issue then. just make sure to select good insurance company
Yes no issues. Claim will be settle. Feel free to ask anything
how ditto is different from policy bazaar ?
Hi Mam,
I wanted to know whether can we take term plan with multiple company and is there any limit ?
Please share video on the above query...
Yes, you can take term plans with multiple companies without any limit.
Which plan is better a term plan or endowment plan ?
Why people talks about only taking a life insurance with endowment plan but not a term insurance plan ?
Hi mam am beginner I have a question for you mam whenever I sit to trade I start getting scared mam that is the reason am not able to trade what shall I do mam plz help me
Brother any idea like international term insurance policy company .Zurich insurance company and MetLife company is which one is best company to buy insurance plan from UAE Dubai .
Wouldn't inflation nullify the benefit of monthly payout? the value of money decreases as the time passes by.
Great.hmmm Like you're selling term insurance too!!! How many desk a person should go before the mature amount credited to his account?!
Managing 2cr now is not that difficult.....one apartment is costing more than that I think we should say 20cr
Whether one person should take both Life insurance and Term insurance ?
You did not mention to cover our present liabilities like Home loan personal loan other loans if any. That should be added to sum assured.
For the 5th mistake
If the person paid the premium for three years continuously, as per Section 45 of insurance act.
The insurance companies they cannot reject a claim if a fraud is discovered after a three-year period.
Hi Madam, I have one question, I have heart Problem and I tried to take term insurance but no company is providing me buz of my heath heart porblem, in this case, if I will die what I have to do so my family will not face any problem
Hey Madam, Can u help me here, I know it is spam msg.
What a teaching skill !
Earlier is not better also? Age of 20 and max term duration ends the cover up to 60 years
But at the age of 40 same max term duration covers up to the age of 80. So definitely premium varies and better coverage.
Hi Rachana, I really love watching your videos😊 They are so damn informative. Thank you for making India financially strong by giving them financial knowlegde especially womens of india. We are so grateful to have a financial mentor like you. I humbly request you to record a video on LIC investments/policies as many of the agents are doing scams especially on poor village people. So that there is awarness among people about LIC agents which are manipulating people with unnecessary premiums. I hope you will record it soon. Loads of love & best wishes🙏😊
My wife detected with Asthma after 2years of buying term insurance. What I need to do?
Also let us know from where to buy term insurance by online ?? Else by visiting any branch office
I suggest to get the full amount and put fixed deposit in bank or post office.. will get monthly interest.. we need to inform to our family about this..
Not a good decision considering TDS
While taking policies there is no any pre-existing deseas but after that when we admitted and detect diabetes. Will it cover and how we prove that the deseas was not earlier.
How earlier is better.....if i start at 40 then I will have to pay till 60 for 20year only....in case i start at 20 I will have to pay for 40years.....so total paid premium will be same Right
I am not able to open trading account because my bank details are on maiden name and aadhar card is marital name. None of the apps like zerodha, angel one etc have option to upload marriage certificate, for clarifying name change for ladies
Not sure if existing policy holders can get top-up. Any idea if Max Life has this option for existing policy holders ?
At present, max life give three time to top up..at mairrage, first child and second child
Buying term insurance or investing monthly which is better?
Both are important
Madam if a person attains age 18 he takes a term insurance policy he was a non smoker and becomes a smoker after 2 year's / now what he should do now because he became a smoker and he should inform to the insurance company and take a new policy or the earlier policy shall be continued and his legal heirs shall get the claim in the future if the proposer died during the policy period or the claim will be rejected - please explain or clarify...
Nice madam, but you missed about premium payment whether it should be done in 5 , 10 or 20 years which is better?
If one person purchased a term policy and then died, how the nominee got to know he is already took a policy and how the insurance providers know?
Are we getting a video on whether to buy SGB on 27th December?
How to change a term plan ? Is it okay to lapse and buy a new one ?
Hey @CA Rachana, Could you advise if in the case if both partners are working - do they have to buy term insurance for both?
In India trend is changed ,previously husband, head of family was working so normally term insurance was brought by husband. Now both are working.
Also previously options in Term plan were less , incase of insured death sum assured was given.
Now u have options like one policy which caters Term plan, investment growth thru mutual fund, hospitalization and critical illness.
also women insurance is cheaper than men . so recommendation is taking term plan for both depends on your goal. women plan can be used for legacy creation with less premium. and male insurance for risk cover
Hey Rachana,
can you help me answer this scenario... If at the time of taking term insurance(1crore payout) there were no habits like boozing and smoking (Person ABC - AGE 28) ....after a few years (Person ABC- AGE 35) have started boozing... my question is If person ABC dies at 40 where he has children wife and parents as his dependents, will the payout be done in full if it is a natural death...what should be the steps taken by ABC in this scenario
Ok its common.
They can reduce some penalty amount but claim will be settled if something happens
Madam you cannot buy term insurance when you are student..
...I am 19 years but not getting any term plan for 50 lakhs
how does insurance company know its a pre-existing condition?
It was great informative video for all new people... Kudos to you.
I have had already considered all your advices appx 6 years ago when i was 31 years old for 6.4Cr value.. but additionally I opted premium payment term as 5 years for 40 years policy which is eliminating risk of missing any single installment in long term and BP/Diabetes issue arisen at later stage of life..
Thanks for watching!
Premium payment term as 5 years for 40 years policy mean????
@@mangeshsutar1932 Paying more premiums but only for lesser time, not for full insurance period.
In this case only premium is paid only for 5 years. Even if insured for 40 years.
Paying complete premium early is a bad choice in my opinion
You have taken very high cover and wasted your money, seems some agent scared you 😅😅😅. You can always invest additional money in index funds equities and that also is a cover.
What about Accident rider ? Should it be taken besides critical illness rider?
Hi Rachna great Work Keep Going 👏👏. I want to know Should I buy refundable Term Insurance or Non Refundable Plan. Please explain Aspect and Impact of both.
Non refundable is better
I have one term insurance, I need to purchase one more. Shall I purchase same company insurance or different company.
Is there any issue if purchase two diff. Insurance from diff company. Please guid
Hi Mam firstly i always appreciate your work and this too is an eye opener. a lot of other channels also present a general view regarding the same but avoids to target the terms and conditions listed with the policy documents. regarding the riders for the term plan don't you think as they are all connected to the base policy will be coming with a lot of terms and conditions which need to be fulfilled exactly in the way they are mentioned in the plan otherwise it may happen so that later on when the illness actually happens the claim may not be passed. instead don't you think a comprehensive critical illness plan would be much benefited and it's too a complex one to go through. i understand it would be a costly affair but it would be surely a great deal compared to a rider..just because the premium remains fixed throughout the policy term of the term plan we cannot ignore about the policy terms and conditions which people usually avoid to read and later on repent on their decisions. I think the video of your is really good enough for creating awareness among the society but i also think that you should very well make us all aware to go through the complex policy company terms and conditions. I hope you will also address this vital point in your coming videos as hardly anyone has touched upon these... see you soon.. stay blessed
These things are applicable when we are taking term insurance.. but if anyone has already taken a term insurance then how he can amend the things like shown in this video
I like the way you explain everything. Very honest and useful information 😊
Great Service You are Doing. ALL THE BEST
Keep continue your Service.
What if diseases got to know after 5/10 years of term insurance ?
Hi Rachana,
Khup chhan info...
Even if we provide wrong info about pre-existing disease but the term policy is always based upon the premedical health check ups. Am i right? In short policy provider is always aware of such pre-existing diseases if any. So whether correct info is provided or not shall not be the criteria while making the claim settlement. Please share your view.
I love watching your video explanation is so clear in financial.
Thank you so much for valuable information
Ma'am, your videos are an excellent and very informative❤💫
⬆️Thanks For Watching.Reach out the
whatsap line for Financial Coaching For Consultation✉️...
Glad you like them!
I need an Important advice Mam, In a pre scanner device, I have shown oral cancer Symptoms. Shall I reveal it to the insurance company? It’s not been officially confirmed though…
Shall I buy term insurance without revealing this info? I can take advantage of critical illness rider then.
Like no scan was conducted!!
Need an expert advice, please avoid commenting if you only know half things….
Hi, you didn't talk about age. What shud be the ideal maturity age for term insurance
I have purchased a term insurance plan from Bharti Axa Life Insurance company in January 2022 without any rider from policy bazar.
Now I realised This is not a good insurance company and poor customer service .
Now should I close this policy and choose another insurance company and continue with current policy?
Please suggest me right path.
tell me onething when my grandparents were only buying gold just gold and lands why would we need this kind of insurance thing? !
Madam which term insurance you brought
It’s bullshit to have the person who is taking insurance made responsible for not disclosing pre-existing conditions. What if the person doesn’t even know ? Why let him pay premium only to reject at the end ?
always see the insured company claim settlement ratio ex tata AIA ,good ratio 99% or above.
Normally as per age company suggest medical checks before buying the policy . and it is moral responsibility of insured person to put on paper the maximum known medical history to the advisor or company person while filling the form so claims r not rejected. Once the policy is approved by under writer normally claims r not rejected. and if rejected thru TPA u can fight for why?
If you buy term plan late that is also okay, because you pay extra now, but you have saved the premium amount in the previous years 😉
Yes agree
Exactly
And what about the HLV? Human Life Value in financial terms? You do realise that when you are below 35 your income multiplier is 30. That is to say if you are earning 15LPA (when you are 34) then you are eligible for a Term Cover of 4.5CRORE. Whereas if you are earning 25LPA (your are 46) then you are only eligible for Term Cover of 3.75CRORE. It's better to ensure early to have BENEFITS of REDUCED PREMIUMS, Riders comes at nominal rates, LESS MEDICALS as compared to when you are in 40's or 50's, and ENHANCED COVER.
You saved previous 5-6 premium but now you need to pay higher premium for 25-36 years. Not feasible
Please suggest me,is it ok to get term insurance from policy bazaar
There are more riders like.. accidental, disability, critical ilness.. do we need all?
Does every insurance will be applicable for NRI as well, i assume if a person took insurence (India companies) in one X country will that can be claimed in india?
IF U BUY INSURANCE from Indian company yes, u can claim if u die outside.
What about the Franklin india feeder. Franklin US opportunity find?
Is it good?
Ma'am video is little late i already brought term insurance.
As recently as last month i got denied insurance because i told them i had psoriasis twenty years ago!!
Madam, in the course of your studies, will you please try & do some great research to find some working solutions to tackle India's inflation ?
Noted.
The only prb is will these companies will claim their term insurance amount to the nominee or they can reject it saying some useless reasons, dieases, etc. Also it’s just to be given on death. So that means death can be of any type. Will that also be given???
Could you please guide on having term insurance from one insurance company only or with couple og more?
I have watched in some other video that it is always better to add as much add-ons in health insurance and keep the term insurance plain and simple just for life insurance and nothing else. I think that is the better option. Any suggestion??
Health insurance premiums would go up YoY, the term insurance ones typically are fixed. So IMO, take the add-ons on term insurance instead of health, specially for critical illness.
Nice video , one question : can only nominees / dependants will be covered under the plan , can we later change the dependants after a few years without surrendering the plan ?
Should be possible
Mrs Kathrine is legit and her method works like magic. I keep winning every week with your new strategy.........
I also trade with her and earn $2,600 every week. My whole family has been trading with it and making a profit.
I have an important question, can you please help me answer that ?
My financial advisor told me that after 7 years of taking the policy, even if the insurer dies due to a pre existing disease (and it was not disclosed earlier) then also the company cannot reject the claim. Is that true ?
What about the existence of the insurance company after 15 years?
As all know, US mkt is going down. In that case, can you make a video on Amazon stock's.
The stock has reached 52 weeks low.
Thanks in advance
If I increase my term insurance coverage after 3 year then my 3 year period will reset and i will loose advantage of section 45 of insurance act.
Usually i provided all information in term insurance. But section 45 makes assurance that term insurance company donot find any loophole in my policy.
even though all pvt company claim ratio are good but still they reject claim in first 3 year wrt after 3 year.
So,In this case should we increase our coverage and risk advantage of section 45.
Or
Opt different policy