Only term insurance covering life, and medical/health insurance is required. Other insurance policies will make money for insurance companies, agents etc, in the form of allocation charges , loading charges, cover charges, commissions etc. Just take only term insuarnce for a small annual premium and forget tax saving , saving, etc.For savings and investment use other instruments and other venues such as gold, realty, etc. During the decade from 2001 and 2011 a wealth of Rs one trillion of Indians has been destroyed by these Insurance companies in the name of savings , tax savings etc. Ask anyone who has invested in Unit Linked Insurance policies during this period.
Once they get their money the LIFE insurance company will take not only your LIFE but the Partners LIFE also. Think twice? ask some one who got the Benefit first.
Re: Insurance
by Mukund Barve on Jan 19, 2015 08:00 PM
Let article render statistics of ratio of claims incurred to claims settled and also the ratios of claims settled within 3 months/6 months/12 months/24 months/36 months> 36 months