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Know more about insurance.
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Do I need life insurance?
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How much life insurance do I need?
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How much does it cost?
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Help me choose a policy.
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I know what I need. Show me plans.
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knowledge base
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What is life insurance?
<br> Think of life insurance as a financial cushion that you and your loved ones can fall back on at times of great financial needs. You buy an insurance and pay regular installments. In return, your insurer pays your dependents a lumpsum in case of your death or health deterioration.<br> <br>
Do I need life insurance?
<br> If you have dependent family members, or if you want a passive money pool set aside for expenses after retirement, you need life insurance. As the name suggests, it insures that no accidental or life-threatening event can put you and your family in great financial misery.<br> <br>
What are the different types of life insurance?
<br> Life insurances are mainly of two types: pure risk cover, and investment plus risk cover. Pure risk plans cover death and are easy to afford. Plans with investment benefits give maturity benefits and cost more than pure risk covers.<br> Explore more on pure risk covers & insurance with investment benefits.<br> Pure risk term plans/investment plans
How much life insurance cover do I need?
<br> The thumb rule is to purchase a life cover that pay out at least ten times of your annual income. So if your income is 10 lakhs, your ideal life cover is 1 CR or more.<br> <br>
What should I know before choosing a life insurance?
<br> Before issuing an insurance, the insuring company will conduct a thorough background check. So, you must furnish all data to the best of your knowledge so your insurance doesn’t get rejected.<br> <br>
Can my life insurance claim be declined?
<br> Certain lifestyle choices can impact your claim life accident due to intoxication. You should consider healthy living and treat your insurance as an airbag; because the best thing is to never have to claim life insurance at all.<br> <br>
Why is now the right age to buy life insurance?
<br> Buy life insurance when you are young. And you're as young as you'll ever be. Every passing day, your insurance gets a little costlier. By buying early, you actually save on a long term.<br> Try comparing insurance costs at different ages at www.hdfclife.com.<br>
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Is it cheaper to buy life insurance when young?
<br> Buy life insurance when you are young, making money, and at the peak of your health game. Because that's when insurances come cheap.<br> Try comparing insurance costs at different ages at www.hdfclife.com.<br>
What is underwriting?
<br> Underwriting is the process where your insuring company evaluates whether they would risk giving you an insurance cover, how much cover you're eligible for, and how you'd be allowed to pay. This process involves medical tests, background checks, etc.<br> <br>
Can I change my mind after buying a policy?
<br> You will have around 15 days to return your policy. This is called a free look period. Usually, insurance companies run background checks, estimate risk, etc. during this period. However, you'll lose credibility to apply for new insurance plans afterwards and they'll deduct some amount.<br> <br>
Can I surrender my policy after buying?
<br> You can submit your policy any time, but you'll stand to lose more than gain. However, your insuring company may have a lock-in period. If you surrender your policy before this, no surrender value will be paid out to you.<br> <br>
Can I plan retirement with life insurance?
<br> Life insurance (except pure risk cover, e.g., term insurance) is the best vehicle for retirement planning because of the security it promises. Pension and regular income plans can pay out a lumpsum or monthly income at maturity (the end of policy term).<br> <br>
What is a rider?
<br> Riders are top-ups to your insurance that add benefits ranging from payout at serious illness to monthly payments at retirement, etc. Riders enable you to customise your base insurance plan to suit your needs.<br> <br>
What is a permanent life cover?
<br> Traditional pure risk term covers remain active up to 75 years and then they expire. A permanent life cover stays active up to your entire life. The catch is higher insurance premiums.<br> <br>
Term Insurance.
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