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Insurance planning (life and non – life )

Insurance Planning is determining the adequacy of insurance cover required by the client to cover the risk associated with one's life, medical emergencies and assets. While offering Insurance Planning services, a Financial Planner should address the following requirements of his clients:

  • In case of pre-mature death of the bread-winner of the family, the family's income will stop or reduce to a great extent. In such a case, the family will have to depend on some money that can generate income to at least cover the expenses, commitments and liabilities for the rest of their life. How much would the amount required be?
  • How much of health insurance is required to protect a client and his/her dependents to meet with a medical emergency?
  • Which type of accident policy and critical illness policy will suit the client?
  • Is there a need to have insurance of household goods?
  • Determine whether the client has adequate insurance or not. Also determine if the client is over-insured.
  • What are the risks to the client's (or family's) income earning capacity?
  • What are the risks of loss with respect to the assets owned by the family?

For more details, Contact Wisdom Wealth Consultancy.