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Author: Raina Rajpal

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What is Home Insurance and Definition of it?

Posted on October 1, 2020 by Raina Rajpal
A lot of hard work and sweat goes into buying a home, it not only costs a lot of money but it takes time to save up for it too. Sometimes it takes years and years to finally move from a rented apartment into a home that you own. A home makes us feel financially secure and safe and in the light of protecting our home, home insurance is a must. Recently in these years, there have been quite a few earthquakes and other natural calamities that have damaged a lot of properties. While the magnitude of the calamities has mostly not been life-threatening, property damage is inevitable. Home insurance covers the contents and structures of your home which makes it comprehensive protection that works on the principle of indemnity.

A lot of hard work and sweat goes into buying a home, it not only costs a lot of money but it takes time to save up for it too. Sometimes it takes years and years to finally move from… Continue Reading →

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What is Fire Insurance and Features of it?

Posted on October 1, 2020 by Raina Rajpal
What is Fire Insurance and Features of it?

What are the principles of fire insurance? Indemnity – It covers loss compensation only. Proximate cause – The accurate reason for the fire. Insurable interest -Proof that the policyholder is the owner of the      property/belongings Fire is a… Continue Reading →

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What is Group Insurance? All You Need to know Definition, Types and Benefits

Posted on October 1, 2020 by Raina Rajpal
What is Group Insurance? All You Need to know Definition, Types and Benefits

Under group insurance, 25 people or more can form a group to issue a master policy. Groups like business firms, banks, hospitals, schools, religious organizations, etc can invest in group insurance for various perils. For a group to be recognizable for… Continue Reading →

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What is Endowment Plan and their Key Benefits

Posted on October 1, 2020 by Raina Rajpal
What is Endowment Plan and their Key Benefits

How does endowment work? An endowment is a savings plan that creates a fund for a particular purpose. The purpose is usually a responsibility we have as adults. This could be your children’s higher education, wedding, or retirement. An endowment… Continue Reading →

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Why is Critical Illness Cover Important and What is Critical Insurance

Posted on October 1, 2020 by Raina Rajpal
Why is Critical Illness Cover Important and What is Critical Insurance

Critical illnesses like cancer, heart diseases, polio, etc cost a hefty amount to get treated for. A normal medical would not be sufficient to cover even 10% of the treatments. A person above the age of 35 should invest in… Continue Reading →

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Why Accidental Insurance is Important?

Posted on October 1, 2020 by Raina Rajpal
Why Accidental Insurance is Important?

In India, there are 5 lakh accidental deaths or disabilities every year, and the ones who suffer the most are the ones who are working and are young. Young people mostly die because of accidents and not natural deaths. Not… Continue Reading →

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Mutual Funds vs. ULIPs? Which is Best?

Posted on October 1, 2020 by Raina Rajpal
Mutual Funds vs. ULIPs? Which is Best?

Every Insurance Policy is of two types – Traditional Participatory plans With the guidelines of the IRDA, the money is invested and managed by the insurance provider. This allows your insurer to inform you about the amount and bonuses that… Continue Reading →

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How the MWPA Act Protects Your Family from Liabilities

Posted on October 1, 2020 by Raina Rajpal
How the MWPA Act Protects Your Family from Liabilities

Since the pandemic, the relevance of the MWPA act has been significantly increased in the insurance industry. By purchasing a Life Insurance policy through the MWPA act, you are creating an asset for your family, and all the rights of that policy… Continue Reading →

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What are Lapsed Policies and how do they get lapsed?

Posted on September 30, 2020 by Raina Rajpal
What are Lapsed Policies and how do they get lapsed?

Definition of Lapsed Policy A lapsed insurance policy means that the policy and it’s benefits that you had purchased are no longer valid due to the non-payment of the premium amount on the due date. For instance, you bought your… Continue Reading →

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How much and what type of Health Insurance Policy you need for different life stages?

Posted on September 30, 2020 by Raina Rajpal
How much and what type of Health Insurance Policy you need for different life stages?

It took a pandemic to make people realise that a health insurance policy is a must at every age of your life. The importance of having sufficient medicare insurance coverage is an eye opener for many of us. Many of us have… Continue Reading →

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