Claim Settlement Ratio: The Most Misunderstood Metric in Term Insurance
Imagine a grieving family waiting for the financial support promised by a life insurance policy. The Claim Settlement Ratio (CSR) is often the first metric they check to gauge an insurer’s reliability. While a high CSR suggests that most claims are honored, it doesn’t reveal the nuances that could affect a family’s financial security. This article delves […]
Joint Term Insurance for Couples: Smart Strategy or Marketing Gimmick?
When it comes to securing the financial future of both partners, joint term insurance plans have emerged as a popular choice among couples in India. These plans offer the convenience of shared coverage under a single policy, but are they truly a smart strategy or just a marketing gimmick? Let’s delve into the details. TL;DR Understanding Joint Term Insurance […]
Why Claim Settlement Ratio Alone Is Misleading
When selecting an insurance provider, many consumers rely heavily on the Claim Settlement Ratio (CSR) as a primary indicator of reliability. While a high CSR suggests an insurer settles a significant number of claims, it doesn’t necessarily reflect the quality or fairness of those settlements. Understanding the limitations of CSR is crucial to making an informed choice. TL;DR Understanding […]
Why Dirt-Cheap Premiums May Not Be a Blessing
In today’s fast-paced world, the allure of dirt-cheap insurance premiums is undeniable. They promise immediate savings and financial relief. However, these seemingly attractive policies often come with hidden pitfalls that can jeopardize your financial security in the long run. TL;DR The Hidden Dangers of Dirt-Cheap Premiums 1. Minimal Coverage, Maximum Risk Opting for the lowest premium often means compromising […]
Term Insurance for Freelancers: Why ITRs, Bank Statements, and GST Matter
For freelancers, every rupee earned reflects hours of effort and uncertainty. But when it comes to protecting your family’s future, income alone is not enough. Insurers need proof. Unlike salaried employees with Form-16s and salary slips, freelancers must rely on ITRs, bank statements, and GST records. These documents decide not just whether you’ll get a policy, but […]
How Much Term Insurance Coverage Do You Really Need?
Buying term insurance is easy. Knowing how much cover you actually need, however, is the tricky part. A ₹25 lakh plan may feel like a lot today, but will it still protect your family 15 years later when EMIs, school fees, and inflation rise? On the other hand, overshooting with a massive cover may mean premiums that strain your budget. […]