Types of Life Insurance According to Your Lifestyle
One of the most important things about financial planning is securing your dependents’ finances against unforeseen circumstances. As the name suggests, life insurance offers an assurance to the policyholder that their loved ones will be taken care of in case something happens to them.
One of the most important things about financial planning is securing your dependents’ finances against unforeseen circumstances. As the name suggests, life insurance offers an assurance to the policyholder that their loved ones will be taken care of in case something happens to them. However, for that guarantee, you are required to pay the premium to the insurance provider so that they can offer you coverage for a pre-determined amount.
If something happens to the policyholder during the policy term, the insurance provider will pay the sum assured to the policy nominee. This money can be used in a number of ways to fill the financial void that your absence will leave behind.
Today, in this article, we will discuss the types of life insurance policy that you can choose on the basis of your lifestyle. Choosing the right one is instrumental in ensuring that your family remains financially independent and maintains their lives, even if you are not around anymore.
1. Types of life insurance
Term life insurance:
One of the most simple forms of life insurance in India, term life insurance is also known as the pure protection plan. Such plans are popular as they provide extensive coverage for a small premium. With term insurance, one can choose a sum assured up to 20 times their annual income.
It is the perfect choice for first-time buyers and people who start investing early in their lives. Nevertheless, it is important to note that term life insurance does notoffer any maturity benefits.
Endowment Plans:
These plans give the best of insurance and investment benefits combined in a single product. Endowment plans are best for people who are looking to not just ensure their lives but also want to create wealth to meet their future life goals.
A small portion of the premium is invested in sum assured, and the remaining premium is invested in low-risk options. The nominee becomes entitled to the sum assured in case of an untimely demise of the policyholder, or one received the sum assured as maturity benefit given they outlive the tenure.
ULIPs:
ULIPs also offer investment and insurance in a single product. They offer life protection as well as the opportunity to invest a part of your premium in debt-equity funds as per your risk tolerance.
2. Why Choose Life Insurance Plans?
A life insurance policy helps you protect your financial interests as well as that of your family, should something happen to you. Here are some of the reasons why you must buy life insurance in India.
Protect Your Family’s Finances
An insurance policy offers a specified sum to your family at the time of your untimely passing. This money can be used to pay for all their financial needs.
Rider Benefit
Life insurance providers allow you to supplement your life cover with rider options, such as critical illness. You can choose riders as per your lifestyle to make your coverage more comprehensive.
Term insurance plans offer high coverage for a low price, making life insurance affordable for everyone.
Wealth Creation Opportunities
You can invest in life insurance products, such as ULIPs, that give you insurance as well as investment benefits.
Financial Planning
When you invest in life insurance, you are not only protecting your family’s financial interests, but also enable them to meet their long-term life goals with ease.
3. How To Choose A Life Insurance Policy?
If you are looking to buy a life insurance plan, consider the following factors before making a decision.
Choose The Premium Amount Carefully
You must choose a premium amount as per your lifestyle and income. You should be able to pay this amount with ease throughout the policy tenure. Term insurance plans are cheap and allow you to top-up at various life stages.
Check for conversion option
If you opt for term insurance, you must look for options that allow you to convert it to whole life insurance as it nears maturity. Since term insurance does not offer any maturity benefits, it is important to check this to safeguard your investment.
Some insurance policies are easy to qualify for, but they will make your policy beneficiary wait for at least 2-3 years before the death benefit is passed on. Therefore, you need to ensure that your family is able to receive the sum assured within a short period of time with the least amount of effort. That is why you must check for the claim settlement ratio.
Check For Auto Payments
To avoid missing your payments and risk losing the life cover, you must consider choosing a policy that gives you an auto-debit option. This will allow the insurance provider to deduct the premium amount as and when it is due.
Undeniably, life insurance is an essential financial instrument that can help you meet your requirements at various stages of life. You can visit websites of reliable insurance service providers to check for available products and make a wise, thoroughly informed decision!
The Zora, Delhi Convention Center, located near Jawaharlal Nehru Stadium in Delhi, was inaugurated in August 2024. This convention center is specifically designed to cater to global event needs.
Spanning over 2 lakh square feet, The Zora features impressive architectural elements, including 38-foot high ceilings and two pre-designed halls, crafted by the esteemed designer Walid Baz, founder of Baz Events. It serves as an exquisite venue for weddings, festivals, corporate gatherings, and a variety of other events.
In an exclusive interview with APN News, Jyoti Kalash, Chief Administrative Officer (CAO) and retired IAS officer stated, “The design of this event center is striking. Upon entering the main hall, guests will feel transported to another realm, as there is a glass floor beneath them that can easily support over 1,000 people.”
“The Zora stands out due to its nature-inspired design and outstanding craftsmanship, which was accomplished in just 80 days by an international team, establishing a new benchmark for luxury in India,” the former IAS officer emphasised.
Dhananjay Kumar, CEO of The Zora – Delhi Convention Center, also spoke with APN News, stating, “We are offering not just a venue, but a destination for unique, unforgettable experiences. This luxurious and stunning space was completed within an impressive timeframe of only 80 days.”
Know what is special in ‘The Zora’
Prime location on Lodhi Road, convenient location for all.
Parking facility for more than 2000 vehicles.
Designed by award-winning architectural designer Walid Baz, bringing world-class expertise to Delhi.
Completed within a time period of just 80 days.
Spread over 2 lakh sq ft with two pre-designed halls and spacious customisable areas.
The Zora’s design is inspired by nature, offering guests an ambiance of beauty and tranquility.
750 tonnes of iron has been used for strength.
700 intelligent lights have been used with over 20 modes to match the mood of the ceremony.
Another large dining area is separate from the Grand Ballroom.
The interiors look beautiful and are adorned with intricate handmade designs.
The International Institute of Mass Communication (IIMM) Delhi continues to solidify its reputation as a premier institution for media and communication studies by achieving 100% placement for its Post Graduate Diploma in Advertising and Public Relations (PGD ADPR) course for the third consecutive year. This remarkable achievement underscores the institution’s commitment to academic excellence and its pivotal role in shaping future leaders of the media industry.
A Legacy of Excellence
Ms. Simrat Gulati, an IIMC Alumna and Advertising veteran, who heads this program at IIMM Delhi said, “ADPR is one of IIMM Delhi’s oldest and most prestigious programs. Established with the vision of providing comprehensive education and training in the fields of advertising and public relations, this course has evolved to meet the dynamic demands of the industry. The curriculum is meticulously designed to combine theoretical knowledge with practical skills, ensuring that students are well-prepared for the challenges of the professional world.”
Industry Recognition
Industry experts and media professionals also hold IIMM Delhi’s ADPR program in high regard. Vivek Satya Mitram, a renowned Brand Strategist and co-founder at Bharat Dialogues said, “I have interacted with IIMM Students in workshops & events, the rigorous training included in their ADPR course and exposure to real-world scenarios are indeed a benchmark in media education. We at Bharat Dialogues regularly hire interns from IIMM Delhi for their creativity, strategic thinking, and ability to adapt to the rapidly changing media landscape.”
Several key factors contribute to the consistent placement success of the ADPR program at IIMM Delhi added their Academic Director Pooja Priyamvada. “We at IIMM Delhi have fostered strong relationships with leading companies in the advertising and PR sectors. These partnerships provide students with ample internship opportunities, live projects, and exposure to industry practices. We are privileged to have a highly qualified and experienced line up of faculty members & Guest lecturers who bring a wealth of industry knowledge and academic expertise.”
The industry-readiness of any curriculum requires that it is regularly updated to reflect the latest trends and technologies in the media industry. This ensures that students are equipped with relevant skills and knowledge that make them highly employable. As per many ex-students that is what set them apart from the crowd in the highly competitive media industry. Through mock interviews, resume building workshops, and career counseling sessions, the placement cell ensures that students are well-prepared to enter the job market.
The 100% placement record over the past three years is a testament to IIMM Delhi’s unwavering commitment to excellence. As the media industry continues to evolve, the institute remains dedicated to providing exemplary education and training that empowers students to become leaders in their field.
Established in 1999, the International Institute of Mass Media (IIMM) Delhi is a premier institution dedicated to providing high-quality education in mass media and communication. With a focus on practical training, industry exposure, and academic excellence, IIMM Delhi offers a range of undergraduate, postgraduate, and diploma programs designed to prepare students for successful careers in media and communication.
For more information about IIMM Delhi and its programs, please visit www.iimmdelhi.com
Nima Sulaiman joins HiLITE Group Board, her father gifts her a Porsche
Nima expressed her gratitude for the opportunity and her eagerness to contribute to the group’s success.
Published
8 months ago
on
April 19, 2024
By
In a move signalling a generational shift in leadership and a commitment to empowering women in the business world, Nima Sulaiman, the daughter of HiLITE Group Chairman P. Sulaiman, has been welcomed onto the board of directors with a stunning gesture—a Porsche worth Rs 3 crore.
At just 18, Nima began her journey with HiLITE Group as a customer service trainee at Hug a Mug Cafe. From there, she transitioned to management roles, showcasing her talent and dedication. With a B.Sc in Economics from the University of London in Singapore, Nima brings a unique blend of academic prowess and practical experience to her new position.
As the Director of HiLITE Urban, a subsidiary of HiLITE Group, Nima is poised to continue the company’s legacy of excellence in construction and development. With a focus on providing quality living spaces and international standards in India, HiLITE Group has been instrumental in transforming Kozhikode city with its innovative projects that include premium residential buildings, ultra modern business parks, state-of-the-art malls and world-class entertainment theaters.
Group Chairman P. Sulaiman expressed his sentiments regarding his daughter’s recent appointment within the Group. He said, “I am immensely proud of Nima’s accomplishments and firmly believe that she is capable to take on greater responsiblities. HiLITE Group has always shed light on the significance of acknowledging and empowering women in leadership positions.” He further emphasised, “The emotional intelligence that women bring to the table is pivotal for fostering effective leadership and establishing trust.”
Nima, in turn, expressed her gratitude for the opportunity and her eagerness to contribute to the group’s success. “Inspired by my experiences visiting renowned malls worldwide, I strive to enrich the atmosphere of HiLITE malls and other projects, infusing them with vibrancy and youthfulness,” she said.
The appointment of Nima Sulaiman to the board of directors represents a significant milestone for HiLITE Group and a testament to the company’s commitment to innovation and inclusivity in the business world. As Nima takes on her new role, she stands as a beacon of inspiration for young women entrepreneurs in South India and beyond.
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