What kind of plans should I buy If I dont have fixed amount of earning per month and that can fluctuate?

Related Questions

• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on May 05,2022
  What if my private company has provided me health and term insurance of good amounts?  Shall I still buy the personal insurance now or wait for some years until I quit the company and then buy the personal health and term insurance?
  Your group insurance is a rented property . You have it till you are part of group . You ...
  
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• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on October 13,2021
  An LIC agent told me that if I invest 5 lakh per year for 5 years in SBI Life Retire Smart scheme, then from 10th year onwards I will get 40000 per month pension for rest of my life. And after our expiry (me and my spouse), nominee will get the Corpus amount. Is it true or Am I missing something? How to verify it?
  Dear  You have been given wrong information through mis-selling . Facts are stated below : SBI Retire Smart is a Unit Linked ...
  
  1 0 1957
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on January 05,2022
  In a term plan we are paying premium every month for the coverage but what if a person face death early (say after one year only of taking life insurance) in the period so he has not paid the amount of the coverage so will his family be getting the full coverage amount?
  Yes , claim will be payable .That is the purpose of Insurance to cover the risk of uncertain event ...
  
  1 0 73
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on December 11,2021
  If a person dies and does not have any life insurance or cover but he was a tax payer, is he eligible for any kind of benefits from IT department?
  Dear  There is no benefit from Income Tax Department , but other countries provide benefits to Tax Payer.
  
  1 0 44
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on March 01,2022
  Can we update the nominee later for life insurance? Can we have multiple nominee so that we can split the claim amount percentage wise. How the nominee will claim the payout?
  Yes , you can change the nominee by giving an application for change of nominee . Yes , you can ...
  
  1 0 24
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on February 14,2022
  If I opted for an Endowment plan of 1 crore cover and nothing happens to me in the covered period, does the insurance company returns 100% of the amount I paid all these years after the maturity of the policy?
  Yes , that is the meaning of endowment . On maturity , you receive guaranteed sum assured along with accrued ...
  
  1 0 45
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on March 01,2022
  If I opted for an Endowment plan of 1 crore cover and If I'm getting hospitalized, does this policy covers the bill amount as well? Or that come under health insurance?
  Life insurance covers risk of death unless you had taken critical illness rider . For medical , you need Health ...
  
  1 0 20
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on March 01,2022
  I've already bought a term insurance with a fixed cover of 1cr. But now , I want to increase this cover amount to 2cr. Shall I buy a new one ? Or is there any other option?
  Dear  You should buy a new plan . Continue the old and buy additional cover of Rs 1 crore as ...
  
  1 0 38
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on November 02,2021
  If the difference between a term plan and a return of premium plan is 700rs per month for 40 years, for a same cover, is term plan still a better one?
  Dear  Yes , term is always better . Why should you pay extra . Save the money in mutual fund and ...
  
  1 0 21
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on December 27,2021
  What would happen if the insurer company goes bankrupt? Would my family still get the insured amount in that case?
  Dear  IRDA and Insurance Act regulates all insurers . IRDA ensures quarterly audit of each insurance company and solvency margin ...
  
  1 0 92
• 
  Shailesh Kumar
  

  Co-founder, Insurance Samadhan . Answered on February 21,2022
  If I buy term plan till the age of 65 and if my death is natural before the age of 65 then would my family get the covered amount?
  Yes, that is the purpose of term insurance. Money on death and nothing on survival 
  
  1 0 20
• 
  Robert James
  

  20+ years of experience in IRS matters .
  Is there a way to prevent my sister's estranged father, who hasn't been involved in her life since she was 12, from claiming her and her baby on his IRS taxes this year, potentially leaving her with nothing? He never formally relinquished parental rights, and we're looking for guidance on how to handle this situation.
  Your sister can try to get an Identity Protection PIN for herself; it will be harder to get one ...
  
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