The key features of insurance for NRIs are extensive and while choosing an insurance plan, it is important to choose the plan as per specific needs and requirements. The important features of an ideal insurance plan for NRIs are as follows:
- The plan must be extensive and must offer coverage for the needs of the entire family. Before choosing a plan, you must list out the details of the coverage that you require for the future needs of your family. This will allow you to choose wisely and will help you avoid being underinsured. Understanding the amount of coverage requires you to analyze carefully the short term and long term goals and note the projected coverage in accordance.
- The sum assured must take inflation into account, as this directly impacts the corpus that will be created. Any amount of financial planning is incomplete without taking the factor of inflation into consideration. Inflation basically denotes the increase in prices over a period of time and since insurance is a futuristic instrument for protection, you can gauge the right amount of sum assured only if you consider inflation.
- The plan that you choose must allow the provision for the growth of your funds and not only coverage. The right kind of a plan must allow you to invest in fund options, depending on your risk appetite so that along with the coverage benefits, you can also ensure returns over a period of time.
- The insurance plan must have flexible and beneficial riders or additional benefits like coverage against critical illness, accidents, etc. This may impact the payable premiums but is a necessary inclusion in addition to the main plan benefits.
HDFC Life offers various NRI insurance plans that offer significant coverage benefits and come with a variety of options as per the needs of the prospective customers. For details, click on the mentioned link: https://www.hdfclife.com/nri-insurance-plan.
Income Tax Slab 2021-22
February 17, 2020
Income Tax Return Guide - Details You Should Know
November 07, 2016
Best Tax Saving Investment Options in 2022 (FY 2022-2023)
November 08, 2016
Subscribe to get the latest articles directly in your inbox
14 Best Investment Options In India
October 30, 2018
Short Term Investments: Top 11 Short Term Investment Options For 2022
November 08, 2016
Insurance vs Investment - Did You Get the Right Financial Plan?
November 05, 2018
Popular & Recent Articles
How to Plan for Retirement as Per your Age
"The thumb rule for retirement planning is - the earlier you start, the more you save. However, with age, your priorities change too. So, you need to factor in the cost of living in the present vis- a -vis future."
HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.
Registered Office: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Email: [email protected], Tel No: 1800-266-9777 (10 am to 7 pm). The name/letters “HDFC” in the name/logo of the company belongs to Housing Development Finance Corporation Limited (“HDFC Limited”) and is used by HDFC Life under an agreement entered into with HDFC Limited.
For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale.
|BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRAUDULENT OFFERS