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Indian Insurance Industry: Insurance may be described as a social device to reduce or eliminate risk of life and property. Under the plan of insurance, a large number of people associate themselves by sharing risk, attached to individual.

The risk, which can be insured against include fire, the peril of sea, death, incident, & burglary. Any risk contingent upon these may be insured against at a premium commensurate with the risk involved.

Insurance is actually a contract between 2 parties whereby one party called insurer undertakes in exchange for a fixed sum called premium to pay the other party happening of a certain event.

Insurance is a contract whereby, in return for the payment of premium by the insured, the insurers pay the financial losses suffered by the insured as a result of the occurrence of unforeseen events.

With the help of Insurance, large number of people exposed to a similar risk make contributions to a common fund out of which the losses suffered by the unfortunate few, due to accidental events, are made good.

HDFC Standard Life Insurance Company:

Insurance needs at various life stages

Your requirements at different stages in your life may vary; however Insurance forms a critical aspect at every stage.

25-30 years: This is the most important stage of your life; you have become independent and have started earning. During this phase, long term investments and protection is what you need. This is the crucial time when you can take maximum benefit of the “power of compounding” as well as “lower premiums”.
Ideal plans: ULIPs, Term plans and health covers.

30-35 years: Life has changed for you now, you have newer dreams, newer opportunities, along with an added responsibility of your spouse and children. It is at this stage that your Insurance needs are the highest. You need additional covers that take care of your spouse’s and child’s health, child’s education, protection for your assets etc.

Ideal plans: Education and savings plans, health cover for your family, home and vehicle insurance etc.
At 40 years: It’s time for reinstatement of existing covers. Now, you need policies that provide for higher education of your children, safeguards your family against any loan liabilities, helps you save for your child’s marriage.

Ideal plans: Additional covers with higher limits.

45 years and above: You have worked hard all your life, fulfilled all your responsibilities; now its time for you to think of your life post retirement. You can take up a plan that gives you regular income and helps you lead a secure, independent and comfortable life style in your retirement years.

Ideal plans: Pension plans.


Contact us
invest@adventus.in
91-9873707700