Financial Wellness
Will Making
A will is a legal document that specifies asset distribution and guardianship after death.
Creating a will is essential for seniors in financial and estate planning. It ensures that their assets are distributed as per their wishes and provides peace of mind for both the individual and their family.
Life Insurance
Whole Life Insurance covers the policyholder's entire lifetime, providing long-term financial security and serving as a valuable component of estate planning.
On the other hand, Endowment Plans combine insurance and investment, offering a lump sum payout at the end of the policy term or in the event of the policyholder's passing, whichever comes first.
Health Insurance
Senior Citizen Health Insurance Plans are specifically tailored for individuals over 60 years. These plans typically provide comprehensive coverage for hospitalisation, pre- and post-hospitalization expenses, and sometimes even day-care procedures.
Critical Illness Plans: These plans cover severe illnesses like cancer and heart disease. They provide a lump sum payment upon diagnosis, which can be used for treatment or other expenses.
General Insurance
General insurance is a type of insurance that covers a variety of risks other than life and health.
Home Insurance: Protects your home and its contents from fire, theft, natural disasters, and other risks.
Vehicle Insurance: Covers damages to your vehicle and liability in case of accidents.
Personal Accident Insurance: Provides financial support in case of accidental injury or death.
Travel Insurance: Protects against unexpected expenses while traveling, such as medical emergencies, trip cancellations, or lost baggage.
Investment-Linked Plans
Unit-linked insurance Plans (ULIPs) present a distinctive combination of investment and insurance. A portion of the premium is invested in various funds, while the remainder provides life coverage.
Income Protection Plans
Guaranteed Income Plans are tailored to ensure a fixed and reliable income stream for a predetermined period, offering an ideal solution to sustain a steady cash flow during retirement.
Annuity Plans
Immediate Annuity Plans offer a regular income stream after a lump sum payment. They can be tailored for monthly, quarterly, semi-annually, or yearly payouts.
Consider Deferred Annuity Plans: You make regular payments for a specified term and receive a reliable income after the accumulation phase.
Personal Accident Insurance
Accidental Death and Disability Insurance provides financial support in the event of accidental death or disability. It is advantageous for individuals seeking supplementary coverage beyond health insurance.
