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😇How I selected Best Term Insurance for me? | कंपनी ने छुपाया, पर मुझे दिख गया
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- Опубликовано: 6 авг 2024
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It is essential for the earning member of the family to have good term insurance that protects their family in case of contingencies. However, out of the 24 insurers in India, how do you make sure that the company you are taking the insurance from, will be able to not only survive the term but also be able to pass your claim at the time of need?
Chapters:
0:00 Term Insurance Truth
1:25 Money-Minded Mandeep
1:50 Term insurance vs Whole Life insurance
3:04 What is Term Insurance?
4:07 Term insurance vs ULIP
5:30 Step 1: Claim settlement ratio
6:25 Step 2: Amount settlement ratio
8:03 Step 3: Claim rejection ratio
8:41 Step 4: AUM
9:19 Step 5: Solvency ratio
10:00 Best term insurance?
11:02 Term insurance riders (add-ons)
12:34 Claim rejection ratio
13:46 Bonus Tip
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#LLA #termplan #insurance
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Can I buy LIC tech term plan for my wife (housewife) online ? Agent said no and answer can’t find on google. Pls reply.
If we today choose a company for insurance but in future let's say after 20yrs the company default so what will happen to our insurance and if it's loses then premium for new term insurance will be very high at that time. What is your view on this?
@@shaileshverma1933 Same question was arising in my mind, as I am having Aegon plan. Then after discussing it with one of my colleague who is having good authentic info. , she saidtold me that all the insurance policies are controlled by IRDA and it keeps track on solvency ratio of these companies every year ( I think it should be more than 1.5) and in case of any bankruptcy most of the times big players buy these small companies and IRDA helps in getting it done. No company can go off in an instant as they have to follow some norms of IRDA.
If anybody have some better information regarding this, then plz update me too.
@@manpreetsingh1 Even i am having Aegon Term insurance and i am yet to pay second installment in Dec 2020, so kindly suggest me whether i should drop it and move to TATA AIA or HDFC or LIC because till the second installment i can get my first installment refunded.
@@tubeuvisitor I think if u can move out, then you should. Lic is very expensive, go for big private players like HDFC, ICICI and TATA, that's it.
I just wonder how much detailing this guy would have done for a 15 mins video. Dedication at its best. You guys are the next generation Indians who wants to grow without any shortcuts & of course with Honesty. God Bless
Sahi kaha.
marketing video cleverly showing one brand as the clear preference over so many other established brands like HDFC or LIC. If this video was non promotional the this utuber would have shown show each comany's benefits and cautions.
@@techcloud2510 hdfc.dosnt need marketing especially RUclips
What I learned in last 3 years of my job, this guy has covered everything here! Great channel , keep it up.
Sir lic shi hai ya nhi
@@mannkaur5621 sahi hey . Buy term insurance only. At earliest possible age and for maximum possible term . With medical and if possible with
Critical illness rider ,accidental death benefit or ADB and ADDB or Accidental Disability and Death Benefit .
@@mannkaur5621 take tech term plan from lic, it's pure online, premium kam hai, agent ka paisa bhi bachega
Sir I am 45 yrs old after going through ur videos i am a bit confused because I want to obtain a medical insurance policy please guide me through
Loved the information he shared. But , I've always observed that he's always against LIC , even in this video , he should have also researched why LIC charges more premium, it's because of the Sovereign Gurantee by Central Government which is very important in case of Insurance because we've to consider a company's financial stability for next 30-40 years.
This is great content Mandeep. Thanks for coming up with this one. It has given some insight and boost towards decision making while selecting a right term plan.
Honest and humble! Many thanks dear friend! Stay grounded and keep enlightening us!
आप जैसे कुछ अच्छे लोग उन लोगो के लिए गुरू के समान है जो ख़ुद से कही ज्यादा अपने परिवार के बारे मे सोचते है🙏
"Lalach nahi Logic use karna" - best words
Bhai Bahut Informative Video Bnaya Aapne.. Mehnat dilh rhi h aapki.. God Bless You & Keep it Up...
I know this was posted a while ago but still want to thank you for this insight. Great efforts and dedication. Best wishes to you and the team for sharing such informative content helping us in decision making!
What I've done 5 yrs back for weeks before selecting one term insurance, you covered more than that in 15 mins & shared with everyone. Kudos Brother, keep it up !
Loved the information he shared. But , I've always observed that he's always against LIC , even in this video , he should have also researched why LIC charges more premium, it's because of the Sovereign Gurantee by Central Government which is very important in case of Insurance because we've to consider a company's financial stability for next 30-40 years.
@@akshaymundada830 hh heera
@@Devil_Shani what ?
Does this policy cover death due to any reason or is it only for natural death ?
So which insurance did you take atlast?
Kudos to team LLA. Really appreciate the way you are educating us. your videos have really brought my attention from stupid social media stuffs to knowledgeable investment videos.
Thanks!
Thanks for the lovely info, helped a lot. The Excel file you mentioned is not available anymore. TATA's CSR and ASR have reduced a lot as per IRDA's latest report. Can you please upgrade the video for BEST Term Insurance in India in 2023
❌ Do Not opt choose Limited Pay or Return of Premium
0:00 Term insurance Truth
1:25 Money-Minded Mandeep
1:50 Term insurance vs Whole Life insurance
3:04 What is Term Insurance?
4:07 Term insurance vs ULIP
5:30 Step 1: Claim settlement ratio
6:25 Step 2: Amount settlement ratio
8:03 Step 3: Claim rejection ratio
8:41 Step 4: AUM
9:19 Step 5: Solvency ratio
10:00 Best term insurance?
11:02 Term insurance riders (add ons)
12:34 Claim rejection ratio
13:46 Bonus Tip
Health Insurance pe v ek video bana do bhai🖤🖤🖤
@krishna Govinda LIC.
Plan name LIC TECH TERM PLAN
Bike/Car insurance ke liye bhi video banaye....if possible..
Brother, thank you so much. I have started seeing your videos today onwards based on my RUclips videos Experience I can say proudly that finally I have subscribed India's best RUclips. You are doing fantastic job my friend. The way you share information, there is so much honesty in your voice and in your expression, it seems you have very clear intentions in your mind that you are doing this for society. Pls don't ever change your way of making these useful videos and of course you are speaking in hindi which is the main plus point. Wonderful my friend. God bless you.
Sir, please help me, My company is off and I have no link Epfo with Aadhaar. Sir how do I withdraw money from PF. Sir please help me. Sir I have the uan number. Sir, if I fill out any form, I will be able to withdraw the money. Please help me.
One of the best video I have seen on insurance related videos. Not just worth watching but worth implementing in life. Good work! 👍
Simply wow, Mandeep! Thanks, just loved the crisp and clear content for a very important topic.
Just Awesome Mandeep. Keep up doing these great work. Ultimately the decisions are with the people to opt but you are bringing the fact to the table.
Hi, Thank you for explaining it in such a good way.
You might wanna update one of the headers in that spreadsheet. Instead of ASR, you have mistakenly typed in CSR.
Thank u so much...u save lots of money...i was going to take these last two options and really ur full vedio is mind opening vedio... thank u so much ...for clearing our confusion
Awsm brooo!! Maza aa gaya batao! Sare doubts clear kardie, and fully educate kardia
Everyone should know this information....
It cleared a lot of confusion....
Thank you very much
Brilliant work - your hard work on the research is very evident. Thank you for your help. All the best 👍
Crisp and usefull information. Seedhi baat no bakwaas. Keep it up. It helped a lot...
बोहत बोहत शुक्रिया भाई...सही मायने में आप समाज सेवा कर रहे हो...👌👍💐💐💐
Hi LLA, I had insurance experience, really appreciate you...the data you have collected is worth watching...Keep it up...
My god, dil khush kar diya yaar... Kitna sara research agar hume yu hi baithe baithe mil raha ho to bhaiyyon aur behno ye channel ko subscribe karo like karo comment karo share karo... Mujhe to personally ye video bahot ho jada accha laga aur mera bahot time bhi bachaya eska liye bahot bahot shukriya LabourLawAdvisor ka👍👍👍
Mandeep u r the friend that everyone needs..... Ur honesty will give u big success.
Really best knowledge... Ulip me bhi acha return aata hai.. Please make video on it
Bravo! What a video. An eye opener to rethink the decisions. Great content. Loved your presentation.
Excellent overview!! Just the right amount and level of information
Thanks for creating this video based on research and data. Amazing level of clarity as you explained various things. One of the best videos seen lately.
Yaar ye video mene pehle kyu nahi dekhi. Kher koi baat nahi bahot Sara knowledge Mila and thanks to Mandeep Bhai itna simplify krne keliye .❤️
This guy is just amazing ....15 min vedio for entire lifetime and beyond .Hats off man...keep up the good work.
Been following your videos brother. The amount of dedication you guys put in is immense.
Proof- compiling data in EXCEL.
Keep it up.
Bro fully aligned, I did all these things .. reassuring 👍🏼
Do one for general insurance..?
Absolutely smashing video Mandeep! Covered everything that I was looking for 👌👍
Thank you so much sir apne mere sare doubt clear kr diye.....apki sari video bht hibuseful hoti hai.
I love this man. Hats off sir. Really inspired by your videos. Gonna follow you for all my financial plannings. I was lacking at some points which you have clearly sort out.
Bhai you r doing good public service keep it up.
Bohot badiya video banyi hai, Insurance companies ka poora expose kar diya hai.
bhai kya proper vedio tha not a single doubts hat's of to u subscribed
Thank you for sharing such a detailed insights, much appreciated ❤️
Great Bhai,
How beautifully explaining about the term insurance.
U have done lot of efforts and explain to us very logically.
All are requested to follow his advise.
Thanks
Very good analysis, totally worth it, u deserve more recognition and appreciation brother.
Very informative video
LLA team always rocks. you guys give some real critical worthy information through your videos. Hats off to your research and hard work. Thank you guys
Would have been better if u could have given some more detail on the 2 options provided with term insurance like limited pay and return of premium with some illustrations, but overall thanks for the info❤️🙏
If anyone here is confused about term insurance listen to this guy. He has done a great job of collecting all the information at one place.
Hello Mandeep, this information was very helpful for me considering my will to get myself a term insurance. However, I wanted to know if in a situation where the nationality of the insurer is changed, how would it really affect the investments made while being Indian citizen (Question is inclusive of all the investments- PPF, EPF, Equity, Insurances- Term and UPLIP, Bonds, etc).
Hope to get a reply on this one.
Thanks
This is really an informative stuff, I loved this !!! Thank you so much for this info 😀😀😀😀🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻
Hi Mandeep, really a great informative video. Lots and lots of thanks. Could you please compile the data for the year 19-20. This time the report has 242 pages..😰
Very informative as usual! And thanks for the Excel!!!
पहली बार इतनी आसान भाषा मे समझ पाया। आपने हमारे लिए इतना अच्छा वीडियो बनाया बहुत बहुत शुक्रिया।
Man I am big fan of yours... U have so nicely accumulated all the critical information in this video
Wondering what did we do as an audience to deserve this video? Why is this video not touching million views
Thanks sooo much ❤️❤️
Hoga hoga...👍
@Subham I will bet on 9/10...
True
It is still not reached to 1M people. Pity on youtube algo
You are the Man ! Absolute quality video with loads of information...
बहुत बहुत धन्यवाद सर जी, इतने ज्ञानवर्धक वीडियो के लिये इस वीडियो को देख के आपको और आपके मेहनत और लगना को सेल्यूट...🙏🙏🙏
As always fantastically explained video on term insurance by LLA Team but Sir please make another video on different different kinds of riders & how u should choose them in priority order for us young invester age between 26to30
Loved the video Brother! In-depth analysis tha ye. I especially liked your comments on limited pay and return on maturity variants of plans. I did the calculation myself. I calculated the premium that I wouldn't pay for those types of plans and instead invest in MF....I will earn crores. But these insurers will just handover me back that 15k extra premium I would have paid which will be of very less value at that time due to inflation.
Thank you for updating the IRDA Data. Respect for keeping things up to date.
THANK YOU for such an informative video. I understand the amount of work you have put in to research for this and are putting for continuously updating the Excel sheet. GOD bless you.
Great research and knowledge shared. Thank you. I was also looking to get one.
This has really helped me making an informed decision. Thank you!
Great video....will help numbers of people and save thousands of minutes..👍
Sir, you have answered each of my confusions regarding term insurance. Thank you.
Hi Mandeep, Appreciate your work, its simply fantastic. On a humble note there is one correction in your excel file (Sheet 1) Amount settlement ration has been mentioned as CSR it should be ASR. Thnx Keep up the good work. :)
hi kevin, Can you share the link of the excel. I can't see that in the description of the video. Please consider sharing
@@shashwatsingh4106
07:39
Right up corner
I noted the same when I opened the excel.
@@abhirajram pls cant find excel pls share in reply will be greatful
Can someone share the Excel please
Thank you very much for sharing this detailed info. Much appreciated!
Thanks man...precise and exactly what I was looking for 😃
Mandeep Gill ❤️ sir
You don't know how much help and guidance you did with this video ❤️
Hats off to U and your team 🙏🏼
Thank You so much
Please be the same as truthful and genuine as U are 👍🏼👍🏼
You guys are the bestest
And Thanks a lot for the Excel sheet 👌🏻❤️
Hi Mandeep, Great Video bro. You did a greater research and explained it very well. Kudos and Keep it up. Today is 29th Jan 2022 but IRDA report on your link is still of 2018-19. Any idea, when the next (Excel) report will be ready? Also, on Critical Illness Rider, I would like to say that it should be taken a separate policy becoz Term insurance will end at 65Y or at 75Y (depends upon what you choose) and at the same time Critical Illness Rider will be terminated at the same time. But Critical Illness Cover will be mostly required in older age as chances of getting any Critical Illness is higher in that age. Yeah agree that premium for stand alone policy for Critical Illness will be higher and keeps on increasing with age but still better to take as stand alone policy. Please mention whats you take on this. Your comments will be highly appreciated.
Hi Mandeep, your knowledge sharing way is an amazing. I had watched your video of how people get trapped in moneyback and endowment policies, I am one of those sadly. Last year I had purchased two money back policies of SBI life but after watching your video in which you surrended your father's policy, I just wanted to ask like if I should surrender it now or I should probably pay premium for atleast 2 years more and then select paid off option? I am asking this as I got an advice from policy bazaar representative that I opt paid off after 2 more years as it will give me atleast some profit.
please let me know your thoughts on it.
super comprehensive video, so proud to subscribe to your channel, truly you are doing a great JOB.
Very very nice information. Thank you. Keep on posting good videos like this one.
आपका शुक्रिया करने के लिये मेरे पास शब्द नहीं हे, बस परमेश्वर को प्रार्थना करुंग की, आपको लंबी आयु प्रदान करे👋👋👋👋👋
Hey, great work! I did not find the excelsheet of IRDAI amount settlement ration here in the description as mentioned by you in your video
This video is eye opening and v very helpful with real facts rather than misguiding online sites for claim settlement ratio and choosing wrong plan.
Kya baat hai bhai…
Very informative video.
This guy is doing great job helping many people
Thank you for educating us with facts ❤️
Great Job Mandeep...Very Knowledgeable video. Keep it up.
Hi Mandeep, all your videos are always very informative and helpful. Thank you. I was attempting to download the IRDA data using the link you shared you description, however I see the message - FileNotFound. Has the path changed ?
Just single word for u that u r excellent.
That was hell of a BONUS TIP.. Thanks Man Appreciate that
Which is better?
This video gives sense of satisfaction as all the topics are covered by you. Thank you very much as it surely helps deciding on term plan.
Amazing video, finally got all the answers. Thankyou so much
Sir we love & salute ur efforts......
You missed some points, in my opinion which are necessary:
1. Choosing limited pay option generally reduces the rider term as well, as all biggies provide rider coverage only upto premium payment terms
2. Terminal illness coverage is must apart from critical illness
3. Critical illness rider is not fixed for your lifetime. Company reviews the rates in a period of 5 years. But u r right that better add it with term plan rather than with health plan.
Very informative 👌keep it up 👍
I was in so so much confusion .I just serch in RUclips and find this video now m very clear and happy about policy .thank you so so much
Thanks a lot.... finally I got what I was asked and excepted from you. You runs the bestest channel on RUclips. I hope and request you to make a video on health insurance also & I know that is a very tiredy job to do.
Thanks again
I will suggest to buy a individual cover of every family members of attest 5 lakh and preferably 10 lakh of every family member and then buy a top up policy of 25 lakh on family floater basis that will be most affordable and best way to take care off all hospital expenses ...if you want me to explain you the policies of all compnies with there pros and cons and help you find best health insurance for you the fell free to contact me at my email id samsunggranddousrom@gmail.com .... I am learning financial planning if you have any queries you can email me at samsunggranddousrom@gmail.com
Currently I am learning so I will try to advise you free of cost latter on I am planning to crack cfp cwm and may be latter cfa and once I will be good enough to help people do financial planning for them then I will be charging for my expertise currently if you need my guidance then you can contact me
Amazing information. Very well executed. Please make a similar one on health insurance too
Waah Bhai, such a great content. Thank you for providing us with this valuable info.❤
Mast bhai..badeya explain keya 👍👍👍
Hi Mandeep, great gratitude for all the research and knowledge you guys are offering. Financial literacy (especially for women) is not common at all. But thanks to people like you who are dedicated to transparency and awareness. Kudos !
Loved the information he shared. But , I've always observed that he's always against LIC , even in this video , he should have also researched why LIC charges more premium, it's because of the Sovereign Gurantee by Central Government which is very important in case of Insurance because we've to consider a company's financial stability for next 30-40 years.
His research is very much lopsided and biased. He needs to update his knowledge in finance and Economics.
Don't buy plans, get Protection / Security and think of the Purpose (Goal / Need).
@@akshaymundada830 uh the same Day installation of zwp.
@@kishankantkishankant3325 What?
One point missed.
While comparing all these Ratios, we need to consider the number of applications each company process.
Bcoz a company with 10 applications definitely perform well compared to a company with lacs of applications.
From where we can find that information?
@@vishalswarnkar5862 IRDAI Annual Report
Thanks brother i got to know this at right time, subscribed immediately 😊
Aise informative authentic video koi ni deta. Love you bro. And give more authentic video❤
Great analysis, keep posting awesome content.
Q1) I see the suggestions are based on latest information available on IRDA (2018-19) but shouldn't we look at longer periods may be previous 3-4 years claim settlement and rejection instead of only the current year for conclusion ? This might impact how Tata AIA will compare with the rest.
Q2) Out of the rejected claims, if we look at Avg. claim amount per claim within the rejected group (rejected plus repudiated) will it lead to any different insights ? lets say in 2018-2019 out of total repudiated claims avg claim amount for Max Life is about 14L whereas for Tata AIA is 24L, HDFC is 49L, ICICI is 40L. Is there is chance that companies with high avg's are rejecting probably more higher amount claim amounts, which if true will be a concern for anyone who wants to take a high sum assured (>=1C)
Insightful,
And thought provoking.
Beauty!!
Was this question answered ?
for remembering
What you are talking is not simplistic the motive of these kind of videos are to give insight to people who are layman in financial field and if he played with numbers layman will get confused
Absolutely, now TATA amount settlement ratio is not even 90%. I believe there will be variations with time.
The latest IRDA report has also been published and the same trend is being observed about Amount Settlement Ratio. ICICI (which I was considering to buy) has a high CSR of 98% but amount settlement ratio is only 91.6%. Such figures are possible only if they're intentionally trying to reject claims with large amount.
Absolutely true. 🍷👍
ICICI Average amount of claims paid: 10,36,396.20. ICICI average amount of claims being rejected was: 58,55,627.01
Which one did you buy, as I was also considering to buy ICICI one?
Check now 2022 data. HDFC life was selected by mandeep but it's amount settlement ratio is 89% whereas ICICI has 95% which is even better than TATA 94%. A decision should not be made by just applying filters you need to consider every parameters as whole. HDFC always try to keep no. of policies ratio high but reject high value covers so its amount ratio is lower. Best insurance is always LIC.
@@4dm1n123 which policy under LIC provide such good cover?
Perfect description. Well described ❤️
Excellent video...lots of useful information explained in an easy way.
Very informative... Excellent.. I was about to invest in HDFC life which was pay 10yrs 1lac per year and next 10yr you will get return... Thank you so much that after seeing this I am not going to buy it🙏.. god bless you guys..
No never do that . Better buy Pure Term Insurance where you get maximum cover for long term with least premium .
Remember Buy Term Insurance and Invest the difference yourself
Don’t mis insurance and investment