Wednesday 31 October 2012

Children Insurance: Insurance for Tender Dreams and Delicate Smiles

Tender body and delicate smile, tiny eyes with shiny dreams, arrival of this new angel in a family changes your life completely. As a parent now you owe a big responsibility on your shoulders, and you cannot just fulfil it by changing nappies whole night and wetting shoulder with saliva. Being parents, means you are asked to shape a life, and a part of entire generation. A child is dependent on parents emotionally and financially. Hence, it is only parents who can give a proper shape to a child’s future by providing him/her strong emotional support and sound financial security. The financial security ensures that any worse change in parents’ life won’t hurt the future of a child. While buying child insurance for a child, you have to consider all-round protection of a child and have to choose a plan accordingly. Several plans are available under child insurance policy those provide risk cover for different aspects of child’s life. Let’s learn all of them one by one.

We can broadly divide the child insurance policy in two categories. One is traditional and other is customized with a lot of other benefits. Under traditional policy, the insurer gets assured amount once policy gets mature. However, in customized policy, the child insurance plan is linked through ULIP. When policy is linked through ULIP, a part of premium is invested in various investment plans, and with passage of a time insurer will get lucrative return.

Now as you have learned about two broad categories of child insurance, let’s learn how child insurance can protect your child at various stages of life.

Child’s Health: Health of a child is a primary concern of parents. Especially, in this new era where parents are educated, they ensure a healthy lifestyle for a child. However, you cannot avoid few medical problems. Furthermore, few children suffer from chronicle diseases, which need intensive care for longer period and of course, hefty some of amount. In such situations parent wants to avail best medical facilities for their child no matter how expensive it may be. Child insurance plan supports you financially and ensure that your child gets best medical facility on time.

 
Child’s Future: Life is uncertain, how long we are going to be with our children in not in our control, but we definitely can control the future of a child by providing financial security. Future plan of child insurance will provide continuous financial support to the child even after demise of parents, without any further premium. This plan ensures that even in your absence the child is financially secure and living life you wanted him to live.

 
Child’s Dream: Doctor, engineer, cricketer, airhostess, actress, and list a goes on and on. Like their vibrant smile, their dreams are vibrant, too. The growing competition and new opportunities open many new doors for children. Many of them want to complete their education through foreign universities. Parents pull their all resources and lifetime savings to fulfil their child’s career dream. However, it is wise to make small savings from beginning rather taking education loans. Child insurance assures you that no matter how big the dream is, child insurance will fulfil them.

Life Term: The life term plan of children education will return you amount as per traditional or innovative plan on maturation of policy. However, if anything happens to a child before maturity period parents are entitled to receive the cover.

Children are budding plants and flowers, they will blossom the garden if you secure them from all the anticipated risks those may break them in an absence of proper planning. Hence, if you wish to see them growing and blossoming tomorrow, ensure their security today. 

Monday 29 October 2012

Insurance which Stands with you to Face Failure

Every one of us is having dreams, ambitions and set goals. We keep chasing our dreams and ambition and ultimately when we get it; we live it unprotected. Taking it for granted. Isn’t it? “I have built my empire” you proudly say that but have you given enough security to your empire or new success that you have gained after long efforts? We often forget about uncertainty of life and leave our tender dreams or achievements unprotected. Property insurance will ensure to provide your dreams protection from uncertainty of live. It will make sure that if something happens tomorrow you would not require making same efforts to regain your dreams. 

Property insurance: People spend their entire life in building or buying property. Especially at present when the entire world is going through an economic crunch, fulfilling a dream of owning property is breath taking. Many people who already having huge property stretched over kilometers find it very difficult to maintain and often face problems. For few, inherited property from parents and grandparents becomes source of income by renting it out. Furthermore, repairing or maintaining property is equally difficult as buying it. Now imagine if something happens to this property to which you have built after a lot of struggle or, which may be the remembering token from your parents or grandparents. Property insurance is an assurance from insurance firm that if any damage causes to your property, you will get an equal amount of money of your property. 



Business insurance: The other name of business is a risk. You are not willing to take risks? You are simply not a businessman. When someone decides to live his dream a size of risk really doesn’t matter and a businessman willing to make any compromise. On the other hand, one who already having business always looks for the opportunity of growing? Though you are an experience businessman you cannot anticipate each threat. Can you compromise your family’s happiness for business? Can see your children going through financial crunches because of your risk taking nature? So shall businessman stop taking risks? No, of course not! Business insurance is a dream merchant who asks dreamers to dream big. By having business insurance you get an opportunity to take big risks in a business. You pay a premium every year and in return, the insurance company gives you a freedom to grow your business beyond worries of family. Because if profit accrues it will be yours or if loss accrues, it will be of your insurer’s.

Home insurance: No place in the world can give your comfort of pleasure that you gets in your own home. The place where you begin your family, where your first angel arrived, where you are living so many special moments. By gathering twigs you have built this small nest for you. For many buying, an own home becomes a dream of life, and they spend their entire life in buying a beautiful home for the family. What if strong winds blow away your cozy nest? Can you dare to build it again in an absence in finance that you have already spent on buying this house? No one can. Hence, it is always advisable to insure your home with home insurance. By paying small premium you buy an assurance that you will never be homeless no matter what will happen tomorrow.




Friday 26 October 2012

Planning To Go Abroad for Education : Must give thought about Abroad Student Insurance

       


Nowadays, studying abroad is quite trendy. The globalization has synchronized the world and students prefer to fly other countries for studies, research and often for doing specialization courses. Studying abroad means living away from family, friends in a new environment. If something can really give you sigh of relief is insurance policy. Student’s insurance policy provides your safeguard against all financial adversities such as loss of luggage’s or important documents like visa, medical emergencies, losing assets, study interruptions, visiting back home in emergencies, or sponsor protection.


Student’s insurance of course gives you many benefits, but it is necessary to choose right policy that provides maximum risk covers in minimum premium.  It is necessary to undertake extensive research for choosing right policy for expected benefits. However, some universities make it necessary to buy insurance plan from a university itself. Some say that plan must buy only from the insurance companies of a country where you are going for the studies. In such situations, you are left with few options, and it becomes difficult to choose right policy that will provide you maximum benefits.

 Student Insurance
  
               
                                                                      
                                                        

However, if your university doesn't levy such rules you have unlimited options and can choose the best plan that provides maximum benefits. It is advisable to buy insurance from domestic companies as it is much cheaper and includes many risk covers. Many students simply choose the plans offered by university or referred by someone as they find it difficult to understand the norms. However, the needs of every student are different hence in order to buy best policy it is necessary to do some research before buying plan. Furthermore, buying insurance plans from Indian companies means expecting cheap premium. If you buy same plan from universities or foreign countries, you are supposed to spend 20%-30% extra premium as compared to Indian carrier.

It is not only the money but other factors that influence your plan buying decision. Universities or foreign companies generally provide only medical risk cover for student insurance. However, Indian companies provide lots of other risk covers such as a loss cover, re-union cover or sponsor cover that ensure your study won’t get interrupted even if the person who is funding education unable to do so due to unfortunate death or illness. These are very crucial points that one needs to consider before buying a plan.
One more thing that one has to consider before buying a plan is to check the hospital network provided by an insurance company. That hospital should be nearby where you are planning to live. Also consider the initial amount that one needs to pay before an insurer settles claims. Foreign companies charge around five times more what you get in Indian insurance company.

Using the internet and comparing plans through an online portal is the best way of choosing a right plan for better future.For more detail about abroad insurance and student insurance you can visit us at : http://www.insurancebazar.in



Wednesday 10 October 2012

The Rise and Growth of Insurance Sector



Insurance, an assurance, a promise to take care. A promise to take care of your family in an absence of you by providing financial support. This was the basic introduction of insurance for people. However, today there are several companies that ensure not only your life but your health, car, home, and a list goes on. For many, insurance schemes confined to life, health or car insurance and they don’t see threat beyond these things. However, the uncertainty of an event that takes place around us inspired insurance companies to introduce more schemes and protect people against uncertain events life robbery, losing, etc. Travel insurance, jewellery insurance, ATM cards or wallet insurance, key insurance are few schemes that guard people against uncertain events of life.







Insurance industry is not a new concept for India or Indians. It has deep roots in Indian history in per-independence era. The difference is only that there used to be only a company to serve the insurance need of Indians but today there are several national and multinational companies are available to guard you against uncertainty of life. Back in 1818 there was Oriental Life Insurance Company founded by Anita Bhavsar, in Kolkata to service the insurance need of Europeans. The service of Oriental Life Insurance was available for Indians too but only with high premium. 

However, in 1870, Bombay Mutual Life Assurance Society came into existence to serve the Indians. In an early twentieth century, many insurance companies were founded to caret the insurance needs of people. In 1956, Insurance sector was nationalized by passing an ordinance and Life Insurance Corporation came into existence. Until 90s, LIC dominated insurance sector and for many Indians LIC is a synonym for insurance. You can often find people asking “Do you have LIC?” instead of asking “Are you insured?” However,during 90s insurance sector was opened for private sector players.

The increase numbers of companies in an insurance sector lead to need of an independent body which can regulate the insurance sector. Insurance Regulatory and Development Authority (IRDA) was established in April 2000 for keeping watch on insurance companies and guarding the interest of consumers or policy holders. IRDA ensures the healthy development and growth within insurance sector. Furthermore, IRDA is responsible for registration or cancellation of a license of any insurance company indulging into fraudulent activity. No company can operate as Insurer or broker for insurance without registration or holding authenticate a license. 


In presence of IRDA spreading awareness about insurance and its importance, Insurance sector is growing with a fast pace. People now become more careful and believe in insuring themselves not only for their lives but also for other things like car, home, jewelleries, ATM cards, etc. In fact, few celebrities went a step ahead and got insured for their nails and butts too.

The presence of several companies and hundreds of schemes often lead to confusion to consumers in choosing right policy that serve the purpose effectively.Insurance bazaar is an insurance broker who helps consumers to choose right policy and company to get insurance. The in-depth research by insurance bazaar of an insurance sector enables them to guide consumers and help him to choose right policy to guard himself against uncertain threats.

For more information about insurance or get free insurance quotes visit http://www.insurancebazar.in/