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Insurance
Easy Finance can help you get various kinds of Insurance :
- Life Insurance
- Car Insurance
- Home Insurance
- Travel Insurance
- Student Medical Insurance
What is Life Insurance?
Life insurance is a guarantee that your family will receive financial support, even in your absence. Put simply, life insurance provides your family with a sum of money should something happen to you. It thus permanently protects your family from financial crises.In addition to serving as a protective cover, life insurance acts as a flexible money-saving scheme, which empowers you to accumulate wealth-to buy a new car, get your children married and even retire comfortably.
Life insurance also triples up as an ideal tax-saving scheme. To know more, read the Key Benefits of Life Insurance.
Why is retire planning important ?
Retire from work. Not from life. A retirement plan is an assurance that you will continue to earn a satisfying income and enjoy a comfortable lifestyle, even when you are no longer working. To understand why an increasing number of individuals have already started planning for their retirement, and why you should too, read on.Independenceis the new way of life
An increasing number of young Indian professionals are moving away from the traditional joint family structure. Since support no longer comes easily, parents have realized the need to provide for themselves during their retirement years.Costs set to soar
Skyrocketing costs throw even a well-salaried person off balance. With rates rising everyday, you can imagine how high they will be when you are ready to retire. A retirement plan provides you with a steady income every month, to arm you in the face of rising costs.To understand how inflation can impact your monthly expenses, use our special tool, the Inflation Index calculator.Non-earning retirement phase is now longer
Only 4% of India working population- mostly government employees – are covered by pensions. The remaining 96% comprises self-employed and salaried professionals who do not have a formal, mandated provision for pensions.5 reasons why health covers are a must
A health cover insures you against several illnesses and guarantees you stay financially secure should you ever require treatment. The cover ensuresyou are taken care of by compassionate and competent doctors at the best hospitals. It thus safeguards your peace of mind, eliminates all worries about treatment expenses, and allows you to focus your energy on more important things, like healing.
Indians at greater risk
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Reason 1 :
Lifestyles have changed: Indians today suffer from high levels of stress. Long hours at work, little exercise, disregard for a healthy balanced diet and a consequent dependence on junk food have weakened our immune systems and put us at an increased risk of contracting illnesses.
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Reason 2 :
Rare non-communicable diseases now common: Obesity, high blood pressure, strokes, and heart attacks, which were earlier considered rare, now affect an increasing number of urban Indians-almost every day.
Shocking Truths
- 18% of the urban population suffers from hypertension, which leads to renal failure, stroke and cardio vascular disease
- 30% of the population suffers heart attacks before age 4
- 66% of deaths today are due to cardio vascular disease
- Almost 3.5 million Indians suffer from diabete
- Cardiovascular diseases (CVDs) like heart disease and stroke are the main causes of death and disability
The Cost Factor
- Reason 3 : Medical care is unbelievably expensive : Medical breakthroughs have resulted in cures for dreaded diseases. These cures, however, are available only to a select few. High operating expenses—therapy for breast cancer costs as much as Rs. 2 lakhs for 3 days—have restricted treatment to the richest. In fact, even among the affluent groups, 20% need to sell their valuable assets so they can accumulate the required amount for their medication.
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Reason 4 :
Indirect costs add to the financial burden: Indirect sources of expense—travel, boarding and lodging, and even temporary loss of income—account for as much as 35% of the overall cost of treatment. Most often, we overlook this fact when planning for medical expenses
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Reason 5 :
Incomplete financial planning : Most of us have insured our home, vehicle, child’s education, and even our retirement years. Ironically however, we have not insured our health. We ignore the fact that illnesses strike without warning—and seriously impact our finances and eat into our savings in the absence of a good health cover.
LIFE INSURANCE AND COMPULSORY SAVING
Life Insurance policy is a contract between life insured and the company providing insurance policy.i.eExample for illustration
Mr. X aged 30 buys 5,00,000 sum assured endowment policy his annual premium is RS.25000/=for 20 yrsContract says
INSURANCE COMPANY IS BOND TO PAY.
- RS 5,00,000 lac plus rev bonus to nominee of life Insured on death anytime within 20 years of policy, provided Life insured is paying regular premium ofRS.25,000 every year for 20 years.
- RS 5,00,000 lacs plus 20 year rev bonus on completion of20 yrs called maturity. LIFE ASSURED IS BOND PAY a} Rs. 25,000/= every year for 20 years
** ABOVE MENTIONED IS JUST AN ILLUSTRATION
LIFE INSURANCE is best product to ensure financial security to family and ensure regular saving for important events in persons life(retirement,education,marriages etc)
LIFE INSURANCE COMPANY PROVIDE VARIOUS PLANS TO SUIT INDIVIDUAL NEED OF INSURANCE AND SAVING LIKE.
- ENDOWMENT INSURANCE
- TERM INSURANCE
- UNIT LINKED INSURANCE
- HEALTH AND UNIT LINKED INSURANCE
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