Insurance Planing

  1. Home
  2. Insurance Planing

Insurance Planing

It is four steps process. 1 Risk Assessment 2 Audit of existing policies 3 Planning 4 Periodic Review

Risk Assessment

If we look at current scenario people receive fraud calls more often. Products can sold in unprofessional manner with false promises. In this case it is important for every individual to know about their risks that can be insured and they can get the customized plan as per their requirement. The matter can be addressed in Risk Assessment Process as follows.

Risk Identification

For this you need to focus on your personal and professional life, Habits, Ambitions, Future goals, Legal responsibilities as per common law, your Surroundings, Your family income, your responsibility towards your family and so on. Now you have to associate risks attached to each areas summarized. Alongside you we will also help you identify the risk. Now you will have no. of risk listed it does not mean you have to insure every risk.

Risk Analysis

It is a diagnosis. Once risks are identified the possibility of Occurrence and severity have to be ascertained. If the risk can be managed by you comfortably no need of Insurance. If the risk is too huge, it has to be quantified, so that it is meaningful if the contingency. Like loss of life, occurs. Here, we will help you understand this process.

Assessing Human Life Value

This is a scientific process which determines the size of the problem which a family will face should the death or disability occur and cause stoppage of family income. Once risk analysis is done steps need to be taken to arrange for sufficient provision to tackle the risk. We will guide you to measure the value expose through our Human Life Value evaluation.

Audit Existing Insurance

This is the process which shows a mirror image of the situation which might materialize, if risk becomes a reality. It calculates the money that will be needed to meet the expenses, month after month, year after year. It there is enough fund available, insurance is not needed. If not, it will suggest, how much insurance is needed to generated the needed money

There are a number of insurers in the market place. So are the sales professionals. And so are the divergent methods to distribute life insurance.

In our case, our team members are trained to carry out the exercise of insurance planning very systematically and scientifically. The goal is to provide financial solution thru the life insurance policies when the risk comes to life and the need arises. Ideally a life insurance policy should work as a guarantee for replacing the income which dies on death or disability of the family bread winner. Our sales professionals work towards this goal and suggest ideal plans.

Planning

Our sales team members work as professional financial planners and life time family friends of customers. They do analysis of cost and benefit of the plans and work within the cost parameters to maximize the benefits there within, as far as possible. Operating from the strength of professional competence, ability to earn customer trust and unflinching sincerity they are engaged in social service which is so much needed and so little understood.

As part of Risk Analysis Process our key feature would be Insurance Planning.

Periodic Review:

Life Insurance policy is a financial plan document. And normally it is a long term affair.

It is represents a solution which was considered ideal at the time of taking of the policy/ies. However, life situations undergo changes. Risks and responsibilities require a meaningful match with the provisions made years back. It is necessary therefore that a regular process of review of the life insurance portfolio of a family is carried out almost year after year. Our sales professionals are trained in the art and science of period review. It makes the plan process a genuine attempt to provide protection against life’s uncertainties of (i) living too long (ii) not living adequately long (iii) physical accidental disabilities and (iv) sicknesses.