OneInsure Blog
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Born in the same locality, Bhola and Chathur (Chathurvedi) grew up together. From sharing their lunch to going on picnics, they reached their high school. Their friendship grew with time. Today, they’re working together in an MNC. They are similar in many aspects but different in some. Bhola for instance is naive and lacks practical knowledge. Chathur however is streetwise. Time and again, besides being a good friend, he plays the role of financial advisor to Bhola.
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Pension plans have a big role to play once we cross the age of 60 - they provide financial coverage and give us a sense of financial stability and security. Now, it must be noted that just because we’ve retired, we don’t just stop paying taxes. The pension that a retired individual receives is regarded as salary and is therefore taxed as ‘income from salary’.
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Critical illness cover is an insurance product where the insurer makes a lump-sum payment to the policyholder in the event that s/he is diagnosed with a serious health related condition. A critical illness can result in loss of income, disability and can bring about several changes in one’s lifestyle. The financial burden caused by it far exceeds what a regular health plan will cover, and that is why having a critical illness plan is necessary.
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Yes, whole life insurance is a good investment option for anybody looking to secure the financial future of their loved ones. Whole life policies, a type of life insurance product, remain active for the entire lifetime of the insured individual. In the event of the demise of the policyholder, the sum assured is paid by the insurance company to the nominee along with the accumulated bonuses in case of a non ULIP plan.
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Insurance deductible is the sum that you pay out of pocket for repairing your vehicle following an accident. You have to come up with the money i.e. the deductible before a claim gets made. Deductibles under car insurance can be of two kinds - compulsory deductible and voluntary deductible. Let us look at what they are:
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Whole life insurance is a type of life insurance product that covers you for your entire life. As long as premium payments are made on time and in full, the coverage lasts and you can be assured that death benefits will be paid. Premiums on such plans can be paid in one-off sum or on a regular basis. Whole life insurance plans are different from other kind of life insurance products - you will be covered till the age of 99 and if you outlive the policy term, you will receive the maturity beneits. Whole life plans can be with or without profit. Participating plans have a bonus factor, whereas non-participating plans do not pay out any bonus.
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As you know, Rakshabandhan is near! Like many other brothers, are you also stuck and can’t figure out what to gift your sister this year? Let us first warn you that gone are the days when your little sister was exhilarated by chocolates and soft toys on Rakhi. Today, she’s grown up and can afford this short-lived happiness all by herself. So what special can you do this Rakshabandhan to make your sister happy? We suggest you to do something different, something that guarantees long-term happiness.
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Falling branches, waterlogged streets and traffic can make driving a challenge. So what should a driver do to change this? How can s/he be better prepared to travel in the monsoon? Well, it all starts with preparation!
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January to March is a busy quarter for insurance distributors everywhere. Many people rush over to buy policies solely for the purpose of saving tax. True, you can claim deductions under Section 80C and Section 80D, among others, but there is so much more to insurance than just tax benefits.
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General Insurance Corporation of India (GIC) and New India Assurance (NIA) are to file for an initial public offering (IPO) in
the coming couple of weeks.