Investment Plan for Children’s Future

Investment Planning for Children’s Future

Every child is precious to their parents. Every parent wishes for their child to get the best possible education and other amenities. This can be achieved by planning your investments and savings systematically. There are various ways in which a parent can secure their child’s future.
It’s advisable to start saving and investing at an early age, ideally even before you have a child. The earlier you start the more benefits you get, like – long term capital gains, longer term horizon which reduces the risk and also results in a higher corpus.

Now you would wonder how much to invest, where to invest and also how much you should save from your income. Investment plan should be taken after analyzing all the things and needs. To achieve the desired goal for your child you need to save and invest regularly.

preparing for your children’s future is a simple process – reduce your expenses, increase your savings, invest properly and regularly and get insured early!

 

Most famous myths of ULIP Plans

Here are some more myths and realities for you to know about ULIP Plans. Before this blog, I have explained some very interesting and essential points of myths and realities in front of you about this plan.

  Lets have a look on some more points

Myth : After buying a ULIP, you also need to buy additional insurance policies to provide coverage for health, accident, etc.

Reality: Most ULIP Plans provide additional insurance benefits in the form of riders, which allow you to increase the existing cover benefits at additional marginal costs. Optional in nature, these benefits may provide coverage for accidents, disabilities, diseases and hospitalisation expenses, thereby, removing the need to buy separate insurance policies to cover such events.

Myth :  ULIPs are illiquid.  Access to funds is only available on death or maturity

Reality: ULIPs allow you to undertake partial withdrawals from your investment fund, after completion of specified policy years. Depending on the policy terms, there is a minimum and maximum withdrawal limit that must be met.

Conclusion

As ULIPs allow you to provide the safety net that will secure your family’s financial wellbeing even in your aftermath, understand the policy features. A wrong decision may prove to be harmful to your financial health!

Important tips - Travel Insurance Claims

Travel Insurance is as important as any other travel accessory you would need while planning a trip overseas. Travel related risks can be many and the cost for securing yourself against these risks is relatively small. For instance, if in the unfortunate event of hospitalization in a foreign country, the expenses can be huge. But if you have a travel insurance plan, the policy will take care of the financial burden of the illness.

In addition to medical expenses, evacuation and repatriation, you can also make a claim on your travel insurance in case of loss of checked-in baggage, delay in baggage, personal accident, loss of passport, trip delay or hijack. In fact, Bajaj Allianz also offers a cover for golf tournaments in foreign countries.

The most important aspect of claim settlement in travel insurance is coordinating with the hospitals and local service providers in the foreign country. This is where a large network of international assistance companies or partners come in useful. Bajaj Allianz has a network of assistance companies in over 30 countries that enable medical assistance, claims process, repatriation and evacuation service and other services. In countries where a partner is not present, Bajaj Allianz directly coordinates with hospitals and other service providers to resolve a claimant’s query, request (for evacuation or repatriation) and claim.

ULIP Insurance - Reality to know the real picture

Intro: There are several myths floating around ULIPs. Read on to know the real picture!!!

Recently, on the game show “The Financial Wizard” (name changed), the participant was asked a question pertaining to Unit Linked Insurance Plans (ULIPs) – Do ULIP insurance allow debt investments? The participant had to choose between “Yes” or “No”. Being quite confident, without making use of any lifelines, he chose “No”. Do you think he was right or wrong? Well, he was wrong. Yes, you may be startled to know that ULIPs do allow debt investments…

Now, take a minute to think, why were you startled when you heard the correct answer? Well, the reason is that there are many myths surrounding ULIPs, which have led to many viewing ULIPs with scepticism. This, despite the inherent benefits offered by these plans – a life cover + market linked returns. The market linked returns allow you to quicken the wealth creation process and the life cover ensures that in case of an untimely demise, dependents are financially secure.

Bajaj Allianz Advantage - Travel Insurance

Bajaj Allianz Advantage -

Bajaj Allianz is the only private general insurer in India to have an in-house team for handling Travel insurance Claims. This provides the following benefits to the customer:
•    International toll-free phone and fax number
•    24×7 availability
•    Direct relationship with the customer and direct communication with hospitals in case of requirement of documents
•    Quick settlement of claims
•    Faster resolution of dispute and faster decision making on admissibility of claims

Claim process

•    Claim is intimated by the customer through international toll free number which lands at the call center in India. In case, a call cannot be made, the claim can be intimated through email.
•    On receiving the claim intimation, an Itrack is generated, which in turn automatically triggers a mail to the claimant informing them of the claim process, necessary documents required and provide them the claim form and other forms required. The same mail is also sent to the hospital in case of medical exigencies.
•    A mail is also sent to the email id of the Claims team so that contact details of the claimant can be verified.