A two way solution for the one time concern: Financial Security

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A two way solution for the one time concern
Financial Security
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• Uncertainties surround us every single
  day on what the future holds. Therefore opting
  for an insurance or investment is something that
  we look for, to give the desired financial
  security for our family. One of the major
  obstacles is that if you have a limited income
  source then you would have to choose only one
  option at a time which would be either taking a
  suitable insurance cover or put your money in an
  investment Insurance to earn the desired
  returns.

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• However, insurance companies in India very well
  understand your Need of the hour and
  requirements, and hence have come up with
  investment insurance plan which holds a
  combination of both to beat the uncertainties of
  tomorrow. Investment insurance plans are designed
  with concept in which certain percentage is
  deducted towards your insurance coverage and the
  rest of the amount is set aside for investment
  purposes.
• Depending upon your individual risks or debt,
  incomes sources, future requirements, age and
  other factors you can choose the type of fund you
  wish to invest aggressive, defensive or rather a
  mix of both funds.
• While the advantages of investment-linked
  insurance policies are clearly outlined, one
  still need to compare the plans across various
  insurance companies in India. This way you can
  ensure that according to your financial plan
  which policy can give you better results or
  rather you could say desired result after the
  maturity period.

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• Every product would be unique and loaded
  with benefits however, its the comparison that
  gives us more transparency on which plan to be
  adopted to fulfill the needs of financial
  security for our family.
• Besides this, there are certain parameters
  on which you can gauge the performance of your
  plan such as
• Length of Financial Protection
• Every insurance company holds its unique
  selling point which is being advertised to
  general public. While some give assurance of
  returns, some assure to protect your long term or
  short term goals and depict the road to fulfill
  them. You need to analyze well, compare plans,
  your goals and the output and only then go for
  the actual decision making on plans.

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• Tax and Charges
• Most companies assure you to give best
  returns. But the actual yields after the tax cuts
  and charges like administration charge, process
  fees, fund allocation charges, etc. is what you
  should ideally concentrate upon. It helps shield
  investor's gains from being cut by the taxes and
  also gives an understanding on the hefty fees or
  charges applicable on the plan.
• Benefits
• Although money is what matters in the end,
  you also need to look beyond the money horizon
  sometimes and see if you could get time bound
  benefits. Check if you get waivers on premium
  payments if youre unable to pay them due to any
  serious financial crisis, job loss, or due to any
  other emergencies. Is the policy covering up
  critical illnesses that need bigger financial
  cushioning or accidental deaths? Are you able to
  take a loan in case of emergencies? These would
  be some of the ideal points that you should be
  focusing upon while deriving benefits on your
  investment insurance plans.

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• Age Factor
• Investment insurance policies are ideally
  beneficial if taken for a long term period. Since
  it is a market driven earning you cannot gauge
  the performance of your funds within a short span
  of time. Therefore, you need to hold your horses
  back and wait for the policy to get matured
  enough until you come to final consensus about
  the returns. Never surrender the policy in a
  panic call. Opt for the investment insurance at
  the age where you or your family can yield the
  benefits at the desired time in future.

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