Amit (name changed) approached HDFC for a home loan. The lender sanctioned the home loan and cross-sold a home insurance policy (HDFC Home Suraksha Plus). The home loan amount is Rs 29 lacs, and the single insurance premium is ~95,000. The premium for the insurance plan is quite high. Amit can’t pay such a high… Continue Reading
Covid-19 infections are on the rise again. Many of us are under great stress for various reasons. A series of “What ifs” constantly overwhelm our minds. During such times, it is easy to appreciate the importance of adequate insurance in our portfolios. An insurance plan helps you ringfence your finances from potential shocks. In fact,… Continue Reading
When you take a home loan, you want to make sure that the loan is repaid even in your absence. After all, you want your family to inherit your house (and not your liabilities). This is a reason why you purchase life insurance. Many times, even banks try to convince/persuade/force you to purchased insurance plans… Continue Reading
When it comes to financial planning, everyone wants to leave behind an asset for their families. Nobody wants to leave behind a liability. And when it comes to your house, you want to ensure that your family inherits your house and not your home loan. Repayment of a home loan is a long term activity.… Continue Reading
Why do we purchase insurance? Well, the answer is simple. You purchase insurance to guard against the impact of a particular event on your family’s finances. That event could be death, illness, disability or damage to expensive belongings. You don’t insure your pen or clothes but you insure your car. Why? This is because loss… Continue Reading
A house, for most of us, is the biggest investment we make in life. Not just that, you enter into long term commitment to pay off those EMIs and call your dream house truly yours. So, most of us dedicate a better part of our professional lives to make this dream house a reality. Any… Continue Reading