LIFE INSURANCE
INavnit Insurance Broking channels with appropriate Life insurance plans to protect against financial loss resulting from insured Individual’s death thus providing you and your family the financial security and certainty to deal with the aftermath of any unseen unfortunate events.
You need insurance for
- Risk Cover – Protection against financial crisis
- Planning for life stage needs – Retirement planning, child education, marriage etc
- Builds the habit of regular savings
- Safe and disciplined long-term investments
- Tax Benefits
Term Plans
Term insurance is the purest form of insurance. During the time policy is in force, the insured pays a fixed premium to the insurance company at regular intervals. This is called premium, and if during this time if the insured dies, the insurance company pays a guaranteed amount of money, known as sum assured, to the family of the insured. In case the insured survives the period of insurance, the policy terminates and nothing is payable to the insured. All the premiums paid till date go to the insurance company. Hence term insurance products offer only risk cover without any returns or any maturity value. These policies are relatively much cheaper when compared to traditional insurance products and cater to the specific needs of an individual, i.e., to cover the risk of death. Term insurance is provided by almost all life insurers.
When an individual starts earning, he is expected to earn till the time he retires and his family is dependent on his income. With his recurring income and his savings, he fulfills his various financial goals. However, life is uncertain and an unfortunate event such as death or permanent disability can cease his capacity to earn. Hence every individual is required to protect his family against any unfortunate attached to his life so that his family continues to enjoy the same standard of living even if he is not alive.
Term insurance allows individual to take huge sum assured with small premium
Children Plans
The role of a parent comes with innumerable joys and its own share of responsibilities. Right from raising the child from infancy to seeing him/her settle down with their own families there are umpteen things one needs to take care of. And like every parent, you too, would want to ensure that your child’s every need is taken care of without any compromises.
This is where Aspire Insurance Brokers, can assist you in taking care of your child’s education or marriage expenses in the years to come. All you have to do is regularly invest a fraction of your income in a child plan to ensure you have sufficient funds in the times ahead when your child needs it the most.
So tomorrow if your child wants to pursue a degree in engineering from abroad or a management degree in a reputed institute, you are well prepared to bear his/her expenses. And even if something unfortunate were to happen to you, you are assured that you will be able to look after your child even when you are not around.
Savings & Investment Plans
Savings & Investment plans combine wealth creation with insurance protection into one powerful financial solution. Unlike other investment alternatives, it allows you to ensure that your goals of wealth creation are achieved even in the event of serious illness, accidents, disablement or death.
They allow you to create build and manage wealth by giving several choices and great flexibility so that your plan meets your specific needs. You can decide how you wish to save so that it suits your savings habit. You can choose how your money is invested so that you can grow wealth as per your investment preferences. What is even better, it protects your wealth plans with life insurance benefits so that your wealth-building efforts remain unaffected in unforeseen events and your financial goals can still be achieved.
Life insurance is sometimes thought of as for those who might die, but savings & Investment plans are for those who will live. Usually life insurance products provide benefits upon death, but these plans are designed to also give Living Benefits to ensure your well-being in your own lifetime.
Savings & Investment plans can protect your Wealth Plan against a range of events such as death, major diseases, sickness requiring hospitalisation, serious accidental injuries or total and permanent disablement. With other investment products, if any such event happens, you may not be able to save as planned or even be forced to withdraw from your savings. But in Savings & Investment plans, these benefits allow you to meet additional expenses without affecting your cash value/ fund value so that your plans to save and accumulate wealth are not affected even if life throws surprises at you. Wealth grows better under a protective cover because life’s uncertainties cannot deplete wealth, which otherwise they would normally do.
Pension Plans
Your retirement years allow you to leisurely enjoy everything you always aspired for. That’s why we call them the Golden Years of your life. You need to plan well so that you don’t just retire, you retire well.
Pension Plans are Plans that gaze into your future and foresee financial stability during your old age. These policies are most suited for those planning a secure future, so that you never give up on the best things in life.
Increasing life expectancy rate, rising health care costs, absence of social security system in India and disintegration of joint family system are some of the key reasons that makes retirement planning very critical.
India's average life expectancy is slated to increase to over 75 years by 2050 from the present level of close to 65 years. Life spans have been increasing due to better health and sanitation conditions in the country. However, the average number of years of employment has not been rising commensurately. The result is an increase in the number of post-retirement years. Accordingly, it has become necessary to ensure regular income for life after retirement, so that you can live with pride and enjoy your twilight years.
Health Plans
In today's fast paced & stressful life you are striving hard to give best of everything to your family. Yet you never know when you or your family may have to face any medical emergencies. If at all such situation arises, it is likely to stress your immediate cash flows. In the absence of adequate health insurance protection there may be a need to liquidate assets or borrow money to pay medical expenses. Moreover in such situations other financial commitments of regular savings may take back seat due to expenses on medical care, thus impacting achievements of any long term financial goals.
Further, the cost of medical care is increasing due to inflation and rapid advancements in medical technology. At the same time the longevity is improving thus forcing us to consume more medical care.
In such scenarios, while it is extremely important for you to adopt a healthy life style, it is also important to have a comprehensive health insurance plan which will take care of some of the medical expenses that you may incur.
These plans provide guaranteed fixed benefit payouts irrespective of the actual hospital bill amount. These plans focus on helping the insured meet the cost of two major heads of medical expenses hospital room charges and cost of surgery. The plan has a fixed payout for each day of hospitalisation and a fixed payout for different categories of surgeries. These are called fixed payouts because the insured, in the case of a valid claim, will get this amount from the insurance company, irrespective of the actual expense incurred.
GROUP INSURANCE
Group Term Life Insurance
In the highly competitive market and with the set in of new age lifestyles, employees are increasingly becoming vulnerable to such lifestyle ailments. Employees at relatively young age have become susceptible to high blood pressure, even diabetes. This has created life threatening situations at times and the family stands exposed and vulnerable.
It is increasingly becoming necessary to provide the employees with welfare benefits that keep them secure and yet provide them with benefits that can be transformed into long term value additions. Term plans pay to the nominee, a fixed sum insured on death of the employee and are a way to show them that you care for them and their families.