1. Planning Life Insurance ?
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Planning Life Insurance ?
learn about the
basics of life insurance.

2. Copyright© 2002
Take control of your life. Learn the basics. Then seek the advice of your RESOURCES Representative.
time to act

3. your money pays for the insurance but your health buys it.
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The general assumption is that life insurance is available for purchase when desired.
But this is not the case.
Waiting could be a significant mistake.
Many prospects were surprised when advised that they would not be able to qualify for coverage or would be rated and forced to pay higher premium.
Remember
your money pays for the insurance
but
your health buys it.
time to act

4. Take control of your life.
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how to go about
Once you have thought about your financial needs and familiarized yourself with the basic of life insurance, you may decide to purchase a life insurance policy.
Take control of your life.
time to act

5. Copyright© 2002
your insurance company
Should be one of international standing, sound financials, highest credit rating and with a history of customer friendly track record.
your insurance agent
Should be one of high maturity and sound experience of finance and investment. He should be cooperative and willing to apply himself to the requirements of clients.
begining of partnership

6. begining of partnership
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how do i go about
Selecting an Insurer
Major consideration
Financial stability
Cost
Service
Rating
Attitude toward
claims
begining of partnership

7. Ratings resources@resourcesinvestment.com A+++ Highest
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Ratings
A+++ Highest
A++, A+ Superior
A, A- Excellent
B++, B+ Very Good
B, B- Good
C++, C+ Fair
C, C- Marginal
D Below minimum standards
E Under state supervision
F In Liquidation

8. Check whether the agent is experienced agent.
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Choosing an Insurance Advisor
Check whether the agent is experienced agent.
Look for an agent with specialized training in life insurance
Determine if your agent has any professional designations
Agents who also are financial planners are better equipped
Talk with the agent yourself to determine compatibility

9. Choosing an Insurance Advisor
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Choosing an Insurance Advisor
The agent should be willing and able to explain various policies and other insurance-related matters.
You should feel satisfied that the agent is listening to you and looking for ways to find you the right type and amount of insurance.
If you are not comfortable with the agent, or you aren’t convinced he or she is providing the service you want, find another agent.

10. What do I expect from the Advisor
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What do I expect from the Advisor
apprise you of insurance products and advise you one suitable to you
provide you with all details
give a point-by-point explanation
seek the advice of your RESOURCES Representative.

11. Seek clarifications ask
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Seek clarifications ask
How long can I keep this policy? If I want the option
to renew the policy for a specific number of years or
until a certain age, what are the terms of renewal?
Will my premiums increase? If yes, when?
Can I convert to a permanent policy? Will I need a
medical exam when I convert?
Are the premiums within my budget?
Can I commit to these premiums over the long term?

12. Seek clarifications ask
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Seek clarifications ask
How much will I receive if I surrender the policy?
Keep in mind that permanent insurance provides protection for your entire life.If you don’t plan to keep the policy for many years, consider another type. Cashing in a permanent policy after only a few years can be a costly way to get short-term insurance protection.
How much life insurance do I need?
What's the difference between term, convertible term, and whole life insurance?
What are the types of permanent insurance?
By using medical tests are insurers trying to eliminate any applicant likely to develop a serious health condition

13. Seek clarifications ask
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Seek clarifications ask
What should I consider in naming life insurance beneficiaries?
Does it make sense to replace a policy?
As a single person, do I need insurance?
I have the option of retiring early. How can I make sure to make the right decision?

14. Seek clarifications ask
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Seek clarifications ask
What happens if I fail to make the required premium payments?
What if I become disabled and can't pay the premiums
Are other riders available?
When will the policy be in effect?
Is a buyer's guide available?

15. How Much Life Insurance Do I Need?
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We generally wonder if the life insurance we now have would be enough or too much to cover our needs. There is no standard formula yet there are
generally accepted calculation guidelines:
How Much Life Insurance Do I Need? .
right cover

16. Estimating the Amount of Life Insurance to Own
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Estimating the Amount of Life Insurance to Own
It requires you to do an inventory of all of your finances, and to think long and hard about how your beneficiaries would maintain their lifestyles. You also must consider inflation and, if you have children, future college
education costs
Short-term needs + long-term needs - resources
= how much life insurance you need.
do an analysis at least once every three years, or
whenever you have had a major life change.
"Some of your needs may decrease,
some of your needs may never go away,"

17. Estimating the Amount of Life Insurance to Own
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Estimating the Amount of Life Insurance to Own
Human Life Value Approach:
net present value of families share of future income (NPVIF n,i) (avg. annual earnings - (taxes and self-maintenance costs))
Needs Approach:
Capital Retention Approach
Capital Needs Analysis): determine the amount of capital needed to provide income to dependents (income = interest earned on principle; remainder is distributed at a later date)

18. Estimating the Amount of Life Insurance to Own
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Estimating the Amount of Life Insurance to Own
Five Steps to a needs analysis
Step 1
Add up all of your short-term needs
Step 2 Add up your long-term debts
Step 3 Calculate family maintenance expenses
Step 4 Figure out what resources you have
Step 5
Subtract your resources from your total expenses.
The figure you get should represent the amount of life insurance coverage you should buy

19. few tips to keep in mind about your life insurance purchase
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few tips to keep in mind about your life insurance purchase
Take your time. On the other hand, don’t put off an important decision that would provide protection for your family. Make sure you fully understand any policy you are considering and that you are comfortable with the company, agent, and product.
When you purchase a policy, make your check payable to the insurance company, not to the agent. Be sure to get a receipt.
Review the copy of your application contained in your policy. Promptly notify your agent or company of any errors or missing information.
If an agent or company contacts you and wants you to cancel your current policy to buy a new one, contact your original agent or company before making a decision. Surrendering your policy to buy another could be very costly.
If you have a complaint about your insurance agent or company, contact the customer service division of your insurance company. If you are still dissatisfied, contact IRDA.
Review your policy periodically or when your situation changes to be sure your coverage is adequate

20. We call on you personally
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We call on you personally

21. Investments & Management (India) Private Limited
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Investments & Management
(India) Private Limited
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214, A K Nayak Marg
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