Smart financial life is all About smart Decisions On right time.
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When it comes to manage our finances then.
What's best most available options.
1.Real estate/Property investment.
2.Investment in assets which can produce good returns.
3.Future technology investment.
4.Precious metals:Gold/silver.
5.stock/Bonds/Mutual funds.
6.Investing in startups.
And many more opportunities like this..
But 1Thing which is most important than above all theses.
Rajesh kumar
That is What?
Of course it is insurance.
Now you would be thinking why Insurance?
Just Remember every money earning opportunity carry risk with Themselves.
And when we talk about insurance.
Insurance itself means protection of Asset/wealth, individual & family From unexpected events.
"Insurance is a form of protection From financial losses."In any Unexpected event.
Along with your and your Asset/Money protection it also Protect your loved once.
Insurance along with protecting your Wealth it also enhance your wealth With adequate proportion.
Lot of Gyani people will meet you in Your journey of investment in Insurance,and will tell you lot of Miscommunicationable thing.
Even Now days Insurance along with Protection .. also offering good Investment opportunities too.
For instance you take any ULIP Insurance plan( Investment+ Insurance).
Means to say beyond Insurance,the Insurance company also offering you..Good amount of return in awez of your investment.
What Modern Gyani pepoles Proclaim.?
The return which you are getting From insurance companies which is Less over all....(In such a 10-15 years of time interval).
For Buying any Insurance policy or investment advisory like Equity or Mutual fund Please.
Click on following link Below.
I would like to affirm you...
1.You are investing your money in parts...not wholesome at a time ..
2.There is no downside risk in insurance companies plans (Except few..where reward could be very higher in awez of risk).
3.Insurance/Banking companies of course earning plenty of money from your investment...
But passing on only small percentage to you...
4.The fact is,It is the business of Company for which they are known As to manage risk/Reward ratio.
5.For managing such type of Financial transaction requires high level of expertise.
6.By being professional in these segments these entities have those sort manpower who has high level of expertise
7.Just ask to your self ? Do you have That sort of expertise to manage risk Without being fail &Without being Fearful for such a downsize lossess of Equity market/Economy swing?.
8.Just remember companies not just Earn because of your individual Money.
They earn bcz of pooling & Diversification strategy of Massess Investment.
Which help them to take big risk to enhance their wealth when opportunity arises.
As well as help them to cut sort losssess in time of downshrink of economy.
Just Remember:
1. Insurance organisation,s prime moto is securing you and your loved once.
In time of unexpected events.
Which they are doing by insuring you from unexpected events.
2.They are helping you to be financial tention free...for your future life bcz of your current decision.
3.they are offering you good return if not best.
4.I am not saying you invest your whole saving in insurance...
But atleast a fair percentage amount invest in insurance.
Rest you can invest in other opportunities which can offer you Extremely good returns.
Feeling Bored about learning Insurance fundamentals.
Relax for a while and review your English communication Concepts.(If required).
Type of Insurance:
There are various types of insurance plans available in market now days.
Few important plans are illustrated below.
Life insurance segments plan:
1.Term insurance plans.
2.Endowment plans.
3.saving plans.
4.ULIP plans.
5.Child plan.
6.Whole life plan.
Non life insurance segments plan:
1.Health insurance plans.
2.Vehicle/Motor insurance plans.
3.Crop insurance
4.Marine insurance etc...are names few.
Generally insurance covers two types of Risk:
1.Primary risk.
2.Secondary risk.
Primary risk burden consist lossess that directly suffered by households,as a pure risk cover.
Like factory gets destroyed by fire.
While secondary risk cover consists of lossess...that merely from the fact someone exposed to such a lossess.
Even though said event will not occour.
But still the cost & strain has to Bear...bcz someone is exposed to such a Risk.
Insurance companies play vital role infact in social service schemes sponsered by GOI.
1.RKBY:Rastriya krishi Bima yojna
2.RSBY:Rastriya Suraksha Bima yojna
3.PMJBY:PM jeevan jyoti Bima yojna.
4.PMSBY:PM Suraksha Bima yogna.
Insurance as Financial planning.
1.Childhood stage.
2.Young unmarried stage.
3.Young Married stage.
4.Married with young children stage.
5.Married with old children stage.
6.Post family/Pre retirement stage.
7.Retirement stage.
Insurance only can get purchase as well as get utilitiesed/benifited at any above stages in life.
Documentation required for purchase on Insurance:
1. Prospectus.
2.Proposal form.3.Agents report.
4Medical examiner,s report
5.Moral hazard Report.
6.Age proof.
7.AML(Anti money laundering declaration.
8.KYC (Know your customer proof).
1.Photograph 2.Age proof.
3.Proof of address: Driving licence,passport,aadhar,telephone bill,bank passbook etc.
If policy has been granted to you ,after successful underwriting & premium payment.
During freelook period generally 15 days( Since date of Documents recived buyer have option To return policy in case of any Misconduct/misunderstanding...or Anything.
1.FPR(First premium receipt).:It is Evidence that policy contract has been Begun.
2.Policy documents is the most Important documents associated with Subject matter of insurance.
Top health insurance providers:-
ICICI Lombard is one of the pioneer companies in Health & motor insurance segment.
2.Manipal signa is Joint venture between India based Manipal group
(A renowned name in Healthcare & education).
& US based Cigna group.
One of world,s top company in their domain.
Manipal Cigna,s few product,s are leading the market.
It has fairly good settlement ratio close to 90%.
International partnership surely giving it to fairly tackle any competition offering.
Major life insurance providers:-
SBI Life In mid of all 24 life insurance companies authrise by Insurance,s governing body IRDA.
SBI life insurance in one of most trusted and reliable name in industry and having fair share in life insurance market.
Brand name SBI itself put it in trusted league of customers,even without any extra effort.
Future Generali In Mid of Of all big names in industry of insurance.
Future generali left no stone untouched to make it one of well-known and customer friendly name.
Because of it,s product innovation & value added product offering.
Life insurance Corporation
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Close to 30% market share LIC have.It,s Major Promotor & stake holder is Govt of India Along with FII,s,Dii,s Independent institutions&retail Investors have plenty of investment in This Maharatna organisation.
LIC is only indian insurer which comes Under Top 10 insurance companies of The world.
ICICI Prudential
ICICI Group by being well-known and Trusted name in Banking,financial,& insurance industry.
ICICI is one of biggest private financial
Group in this domain.
ICICI prudential represent it,s life insurance products divion.
it also offer few added products beyond life insurance.
Major General Insurance companies.
Reliance General Insurance is one of leading Brand of General insurance in Indian insurance ecosystem.
It,s have collaboration with Nippon life a world renowned financer & insurer.
Which gives it a world class wing of insurance flies.
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SBI General Insurance
General insurance wing of SBI group is known as SBI general insurance.
It,s vehicle insurance provider.
It has good mix up products in it,s gamut to serve diversified customer range
For Enquiring & Buying SBI general insurance products:
HDFC Ergo is non life insurance company of HDFC group.
In it,s portfolio it have health & general insurance.
Which it caters it,s customers through flagship brand of HDFC ergo.
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Bajaj group has become new lifeline for Indian insurance & finance industry.
Through it,s vast & diversified customer base and innovative products offering the way Bajaj has touched indian middle class nerve.
And win trust of customers in last a decade..no one else has captured like this.
Bajaj Allianz
Thank you for your visit.
Rajesh Kumar (Founder of "Brand is business"(https://brandisbusinessmart.blogspot.com).
Rajesh Kumar
+91-9455414018/ 9335530407.
rajesh24feb@yahoo.com.
englishwell.india@gmail.com
brandisbusiness.co.in@gmail.com
With best wishes.
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