You nailed it Sir! It is very sad to see still agents are not promoting term insurance and promoting other insurance products just for the sake of getting commission. Happy to see people like you spreading more awareness on the common financial mistakes.
Thank you so much for clarifying the differences between whole and term life insurance. I was on the verge of signing up for a high premium whole life policy and feeling hesitant about committing to it for the next 20 years, especially considering my age in my 50s. Your insights have been incredibly helpful. I really enjoyed your video. You're a true RUclipsr who genuinely helps improve our lives.
This is a very common topic. I would like you to address how to choose a company that is offering term Insurance. What happens if the company who has issued the insurance becomes insolvent how to choose the best company and what is the premium rate to be paid for them
I wish I watched this video 2 months back. I bought a term insurance 3 yrs back when I was 40 for 1.1Mil. I recently converted 125k to whole life and paying 300$ premium. Any advise to cancel that and keep the term alone? What are the pros and cons?
Thalaivare, already took term insurance for 2.5 cr but how to decide how much health insurance cover is needed? Some website gives some formule based on monthly expense, but It can't be based on my salary or expense right? How to come up with a number for health cover? Should it based on some average medical expense based on age or something right? Do we any such metric
If we go by average medical expenses, then we will not be ready to handle surprises. With health, there will always be surprises. Better to be prepared. Depending on the age, pre existing condition, family history of diseases, type of hospitals you prefer - you might need more coverage. I do not really have a formula for that. Sorry.
You should not have any problem in getting a Term Insurance here. But if you do have a problem, and if you need help with an agent, you can reach out to srimahafinancialservicesllc@gmail.com.
I disagree on the whole life insurance part. At the time of retirement we need some permanent income. I know the return rate will be definitely less than market linked plans. But we need secured permanent cash flows atleast some part of the portfolio. Also please keep in mind interest rate will keep in decreasing, so better to lock some part of the income now.
But what if you have hyperinflation.. you are screwed with a fix 6% dividend.. look at the way the govt is printing money... a new spending program every other month, you don't think high inflation is possible? Don't you think asset inflation from last 15 years is indicative of ongoing inflation, that has now started transpiring into the real economy as well. The is a limit to how much money printing an economy can sustain before prices shoot up a lot, but the fed/gov is too corrupt and are gonna leave the country dry, and the higher ups rich guys and politicians would have very conveniently moved all their money /assets to a non treaty low tax haven country, before fleeing away.
Good insights sir. Thank you. May you please add some portals or websites to get some quotes for whole life insurance and term insurance? Also, suggest some top providers if you have. Thank you.
Dear sir I have made a terrible mistake of buying whole life insurance for me and my wife . We are paying a yearly premium of 6K USD for a meager 175K death value. We were confused and sold about cash value etc . What options we have now ? We have paid 3 yrs out of 10 yr already .
Sir, what will happen if a take term insurance for 20 yrs in USA and moved back to india after 10 years, can my family get term insurance benefits if something happens outside USA?
Try using the spreadsheet and see for yourself. It is never a good idea to mix investments with insurance. Keep them separate to get the best of the both worlds.
Hi Sir, Just want to add that the term insurance are not provided to the H1B visa holders in USA. Those are given to the citizens or who holds the permanent residence in USA. Do we have any way to get for the visa holders ? Thanks, Karthik
@Karthi keyan, If you are not able to find an insurance provider, reach out to srimahafinancialservicesllc@gmail.com. They might be able to help you get the term insurance.
Look like this is the only RUclips channel which make sense for NRI. Thank you!
You nailed it Sir! It is very sad to see still agents are not promoting term insurance and promoting other insurance products just for the sake of getting commission. Happy to see people like you spreading more awareness on the common financial mistakes.
did some1 try to sell you IUL?.. Run.. Run.
Thank you so much for clarifying the differences between whole and term life insurance. I was on the verge of signing up for a high premium whole life policy and feeling hesitant about committing to it for the next 20 years, especially considering my age in my 50s. Your insights have been incredibly helpful. I really enjoyed your video. You're a true RUclipsr who genuinely helps improve our lives.
I watched your previous videos and bought term insurance last week 🙏
This is a very common topic. I would like you to address how to choose a company that is offering term Insurance. What happens if the company who has issued the insurance becomes insolvent how to choose the best company and what is the premium rate to be paid for them
Honestly great video! Salute. Crystal clear!!!
Please compare term insurance vs HCVLI (high cash value life insurance)
Thank you for your insights. It is really helpful!
Great Video :)
Very well done thanks much sir . Very useful information
I wish I watched this video 2 months back. I bought a term insurance 3 yrs back when I was 40 for 1.1Mil. I recently converted 125k to whole life and paying 300$ premium. Any advise to cancel that and keep the term alone? What are the pros and cons?
Thank you. Do you have a video on IUL’s?
Very valuable video. Thanks for sharing.
Can we lock in the health insurance premium too (like life insurance) if we buy it at the young age??
Yes, the price will be the same for the whole term( any number of years like 25,30 ..max till 35 years)
Thalaivare, already took term insurance for 2.5 cr but how to decide how much health insurance cover is needed? Some website gives some formule based on monthly expense, but It can't be based on my salary or expense right? How to come up with a number for health cover? Should it based on some average medical expense based on age or something right? Do we any such metric
If we go by average medical expenses, then we will not be ready to handle surprises. With health, there will always be surprises. Better to be prepared. Depending on the age, pre existing condition, family history of diseases, type of hospitals you prefer - you might need more coverage. I do not really have a formula for that. Sorry.
Awesome sir...I'm new US in H1B. Please advise how to take Term Insurance here
You should not have any problem in getting a Term Insurance here. But if you do have a problem, and if you need help with an agent, you can reach out to srimahafinancialservicesllc@gmail.com.
I disagree on the whole life insurance part.
At the time of retirement we need some permanent income. I know the return rate will be definitely less than market linked plans. But we need secured permanent cash flows atleast some part of the portfolio. Also please keep in mind interest rate will keep in decreasing, so better to lock some part of the income now.
But what if you have hyperinflation.. you are screwed with a fix 6% dividend.. look at the way the govt is printing money... a new spending program every other month, you don't think high inflation is possible?
Don't you think asset inflation from last 15 years is indicative of ongoing inflation, that has now started transpiring into the real economy as well.
The is a limit to how much money printing an economy can sustain before prices shoot up a lot, but the fed/gov is too corrupt and are gonna leave the country dry, and the higher ups rich guys and politicians would have very conveniently moved all their money /assets to a non treaty low tax haven country, before fleeing away.
Vijay, in a situation where both spouse and you are working, should each of us have (25 * annual expense) or half of it?
Good question. We would need a total of 25 * annual expenses for the family. So it is better to split between the spouses.
Sir Pls explain about DII and FII
Good insights sir. Thank you. May you please add some portals or websites to get some quotes for whole life insurance and term insurance?
Also, suggest some top providers if you have. Thank you.
term4sale.com is a good place for term insurance quotes.
@@InvestmentInsightsEnglish Thank you sir. As a NRI staying in USA, do you recommend getting TERM insurances from india or from here in the USA?
Dear sir I have made a terrible mistake of buying whole life insurance for me and my wife . We are paying a yearly premium of 6K USD for a meager 175K death value. We were confused and sold about cash value etc . What options we have now ? We have paid 3 yrs out of 10 yr already .
Is it worth to cancel the contract and forgo the Sunk cost (36 K) or just stay put.
Sir Pls explain about small case investment
Sir,
How to buy life insurance if we are planning to move abroad
Sir, please speak about national pension scheme
Sir, what will happen if a take term insurance for 20 yrs in USA and moved back to india after 10 years, can my family get term insurance benefits if something happens outside USA?
Yes you will as long as you continue to pay the premium. But do make sure that is the case when you buy it.
Sir please give some vision about some us share to invest in sip 🙏 and now it is cheap
Better to buy the index like US Total Stock Market Index offered by Navi.
Sir You must have heard about IUL in the US . Any insights if it is better than term insurance?
Try using the spreadsheet and see for yourself. It is never a good idea to mix investments with insurance. Keep them separate to get the best of the both worlds.
Run.. run.. if you are high earner, u can consider IUL (after maxing out 401k, Roth etc) if some money still left.
Hi Sir,
Just want to add that the term insurance are not provided to the H1B visa holders in USA. Those are given to the citizens or who holds the permanent residence in USA.
Do we have any way to get for the visa holders ?
Thanks,
Karthik
That is not true. It depends on many conditions. Check this out: onestoplifeinsurance.com/life-insurance-with-h1b-visa/
@Karthi keyan, If you are not able to find an insurance provider, reach out to srimahafinancialservicesllc@gmail.com. They might be able to help you get the term insurance.
@@InvestmentInsightsEnglish thanks sir. I will touch base with the above one.
I was about to ask a similar question. Overall, the information provided in the video is quite helpful. Thank you, sir.
🙏💐💯
Tamil la pesunga sir
தமிழ் ல போடுங்க
Check the description. It is already in Tamil.