Can I pay monthly SIP on insurance?
Yes, you can pay monthly SIP on insurance.
Monthly Income Plans : Choose the best monthly income plan online from policybazaar.com. Look at the product details for selection of a good plan.
Have you ever thought what would happen if your monthly income suffers a setback? Well, in this case you need not have to worry at all as policybazaar.com helps in finding the best solution for you. Get to choose insurance monthly income online. Choose from the monthly income ranging from a very low price that you have to pay per month. So make a good decision which one would you wish to invest. You can get guaranteed monthly income for a period of 15 years that helps you to remain tensed free. Also obtain the best life cover and tax benefits. You can find different insurance providers where you to make the best decision and so on. Thus depending on your amount that you wish to get as your monthly income, you would get the best monthly income plan for you. You can have a look at the sum assured and the maturity benefit and the annual premium that you wish to make. So in this way have a good idea on the different insurance monthly income for you. You can also look at the product details and if you find it the best that fits all your requirements, buy it online without any worries. Make the best decision to get the one that would help to satisfy all the requirements.
Can I pay monthly SIP on insurance?
Yes, you can pay monthly SIP on insurance.
What are the modes through which I can buy policy?
There are various channels through which you can buy policy, like online, offline, agent and bank.
What is rider?
A rider provides extra protection to the policyholder beyond the provisions contained in the basic insurance policy. Riders offer low cost pure risk to a policyholder. However, these need to be purchased specifically along with base policy at the time of buying the policy. One is required to pay extra premiums to get riders. The right type of rider can customize your insurance plan as per your divergent needs. Some of the investment specific riders available in market are:
Am I eligible to get cash back on insurance?
Cash back on insurance is completely illegal and against the policy of IRDA. Although, some agents make fake promises to lure customers but you should never buy any insurance plan which claims to give cash back.
How safe is my investment as per market fluctuations?
It is tough to predict what's going to be the most advantageous asset at a given point of time. So, you should carefully diversify your investments across different asset classes which will allow you to benefit from each year's best performing asset. Moreover before investing, check the company’s portfolio and performance of your investment plans in last few years.
Last but not the least; reach out to your financial advisor to understand prevailing market trends.
Can insurance documents be used as an identity proof?
Yes, insurance documents can be used as an identity proof. However, only LIC documents can be used as an identity proof. In rural areas, many people do not carry identity document and LIC is the only document which they are possessing. In such case, it can be used as an identity proof.
Can I take loan against insurance? If yes, what is the procedure?
Yes, you can apply for a loan against traditional or endowment insurance policy. ULIP is not eligible for loan. The insurance policy that you bought to fortify your financial security can also be used in a cash crunch too.
Let’s know the procedure of availing loan against insurance policy
Important points to note
What information needs to be disclosed for buying investment plan?
Apart from disclosing your name, occupation, annual income and age at the time of applying for the investment plan, you should also mention that whether you are a smoker/tobacco user or not. Some insurance companies may also be interested in knowing your travel habits, lifestyle habits and medical details before policy issuance.
What tax benefits are available on investment plans?
All premiums paid on investment plan qualify for tax exemptions under Section 80C . Further, maturity proceeds or withdrawals are eligible to get exemptions under Section 10(10D).
What are the exclusions in a death cover?
Suicidal death in 1st year of policy issuance is the main exclusion of the policy.
Can NRIs buy policy?
Yes, an NRI can also buy an investment policy in India. Over the past few years, there has been a spurt in NRI investment owing to the government's liberal policy. Those who want to buy good investment plans in India should content competent financial advisors of PolicyBazaar for managing and helping it to grow & flourish. To know about available NRI investment plans, Please Click
Can I change my nominee?
Yes, you can change the nominee at any point of time. Just inform your insurance company about the changes either via mail or phone. You would need to fill a nomination change form by citing details like name of nominee, relationship with the policyholder, nominee's date of birth, etc. In case your policy nominee is a minor, you would also need to fill the appointee details in the form.
Whom should I contact to make changes in the policy?
Call the customer support staff of the insurance company to amend the policy wordings. An endorsement is issued to make changes like name spellings, add things, etc. Endorsement cannot be issued to make change in structure eligibility.
How much should I invest?
It would depend on various factors like when you start making an investment, when you decide to retire, etc. You would be able to enjoy good returns on your investment if you understand your current financial state, i.e., personal circumstances, income, fund liquidity, which you may require at the time of maturity of the policy, etc. Before zeroing in on the policy, it is crucial to understand your investment objective because then only you will be able to decide the amount to be invested.
How to revive the policy after it has lapsed?
Most traditional plans like endowment, whole-life plans can be revived, subject to conditions that your insurer might impose upon you. Here are 3 ways to revive a lapsed policy-
It is strongly advised that you should revive your policy within 6 months of its lapse as the process is quite easy. As the time passes, process becomes tough and you may also need to pay overdue premiums along with interest and additional documents, which could include medical tests also.
What is tax saving fixed deposit?
It is a special category of fixed deposits where investors get tax benefits when they invest money in fixed deposits. The maximum benefit is available up to an investment of Rs 1 lakh and there is a lock-in period of 5 years.
What are tax-saving infrastructure bonds?
These bonds are issued by Industrial Finance Corporation of India (IFCI), Infrastructure Development Finance Corporation (IDFC) and any non-banking financial company. Investments in infrastructure bonds are advised from tax saving perspective as you get an additional exemption of Rs 20,000.
Why should I buy online from PolicyBazaar? What are the benefits?
Buying insurance online is fast, cheap and easy as compared to other modes of purchase. At PolicyBazaar, you can buy an insurance policy from any part of the world at any point of time.
Have a quick glance over benefits of buying insurance online from PolicyBazaar –
Also, agents are specific to limited insurers and therefore, they push only those policies to people which generate high commission for them. It is not the case with PolicyBazaar. Therefore, when you search policies on PolicyBazaar, you get a chance to pick a most favorable plan out of the available options.
What are the various options of tax saving instruments?
Some of the popular tax saving instruments are-
What is tax saving instrument plan?
Those instrument plans which entitle a person to get tax benefits under Section 80C of the Income Tax Act are called tax saving instrument plans.
Policy Bazaar is very much useful to convince ourselves that we are optimising policy premium by comparison.JAGDSIH SHAH
Thanks for correction done in time and really Appreciated....!! GOOD TO HAVE POLICY BAZAAR..!! LIFE IS EASY WITH YOU..!!Bhaaskar B Lokhande
I know that I have purchased what suits me. Such explanation and clear step by step guidance leaves no point for confusion. Thanks for creating this website named PolicyBazaar.Piyush Gautam
Thank you for facilitating and following up on the policy. Its been a very pleasurable experience with you folks at PolicyBazaar.Ananth Narayan
I would like to thank the website 'www.policybazaar.com' because of which i could get a good policy.Rashmi Sirsath
The services provided by policy bazaar are extremely helpful in making the right choice. Overall I had a good experience with policy bazar.Parag Lele
Got good deal without agent calling or speaking to anyone!!Sonia Khanna
Thanks for the oneroof platform for all the required insurance.sasanka sekhar panigrahi
I applied for a health insurance via policybazaar. I received up-to-dates from time to time and a proper response for my enquiries. Good service. ThanksNikitha Reddy
Thanking you very much for your support for getting our policy quickly, I would appreciate your work.Prabhat Yadav
You are doing a great job. Proud to be a customer of Policybazaar.Neha Jain
Very professional approach with courteus communication. I came on the site without any prior knowledge of Investment products. The site is easy to comprehend and advisors are equally knowledgableXavier Prince
I did not even need help from an agent! This is very good!Urvashi Solanki
I'm thankful to you for nicely explaining the products I was considering. Normally so much details are not made to understand. I recommend this to anyone who wishes to purchase an insurance plan.R.K. Gupta