Guide To Investing in Insurance Personal Financial Planning HDFC Sky

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Insurance is a risk management tool that provides financial protection to you, your dependents, and assets against any kind of financial loss. It is a sort of risk management tool. You pay a regular amount as a premium to the insurer which is paid back to you or the nominee in case of an eventuality. • Insurance is a crucial component of financial planning, providing protection against financial loss for you, your dependents, and your assets. Essentially, it is a risk management tool where you pay premiums to an insurer, who in turn pays a sum to you or your nominee in case of an eventuality. • Key Terms: • Policyholder: Purchases the insurance and pays premiums. • Life Assured: The insured person. • Nominee: Receives the benefits upon the insured's death. • Premium: The amount paid to keep the insurance active. • Types of Insurance: • General Insurance: Covers non-life aspects like health, travel, home, and motor insurance. • Health Insurance: Covers medical expenses. • Travel Insurance: Covers travel-related losses. • Home Insurance: Covers property loss from disasters. • Motor Insurance: Covers vehicle-related damages. • Life Insurance: Provides financial security in the event of the insured's death. • Term Insurance: Pays benefits upon death during the policy term. • ULIP: Combines life cover with investment options. • Whole Life Insurance: Covers the insured's entire lifetime. • Endowment Plan: Offers protection and savings, paying out upon death or maturity. • Money Back Policies: Periodic payouts to meet short-term financial goals. • Benefits of Insurance: • Risk Cover: Financial cushion against unexpected events. • Investment Opportunities: ULIPs allow investment in market-linked funds. • Tax Savings: Premiums can be tax-deductible under Sections 80C and 80D. • Key Components: • Premium Payments: Paid periodically to maintain coverage. • Policy Limit: Maximum payout by the insurer. • Deductible: Out-of-pocket amount before insurance kicks in. • Riders: Additional benefits to enhance coverage. • Exclusions: Specific damages not covered by the policy. • It's vital to thoroughly research and understand the terms and conditions before choosing an insurance policy. • Like this video? Join us on this journey towards financial success and subscribe to our channel for regular updates, tips, and strategies to help you achieve your investment goals. Subscribe and turn on notifications so you don't miss any videos from HDFCSky: / @hdfcskylearn • --------------------------------------------------------------------------------------------------- • Investing just got an upgrade. Experience Sky. • Zero Account Opening Charges • Free Trading Demat account • Zero Maintenance Charges For First Year • ₹20/ Order on Intraday and Delivery • Equity, F O, Currency Commodity • Buy Stocks Pay Later With MTF at Just 12%. • Download the HDFC SKY App Now - https://hdfcsky.onelink.me/9Pjp/j8rk8m65 • Open Demat Account: https://hdfcsky.com/sky/?to=SIGN_UP u... • Brokerage Charges: • https://hdfcsky.com/pricing • ------------------------------------------------------------------------------------------------------------ • Playlist Links:- • 👉 Basics of Fundamental Analysis - • Basics of Fundamental Analysis for Be... • 👉 The Mechanics of the Market - • Mechanics of Stock Market With HDFC Sky • 👉 The Why's of Investing - • Learn Investment Ideas With HDFC Sky • 👉Behavioral Finance - • Learn Behavioral Finance With HDFC Sky • 👉 Personal Finance: Advanced - • Personal Financial Planning With HDFC... • 👉 Introduction to Trading - • Basics of Trading for Beginners • 👉 Charts - • Learn Technical Chart Patterns with H... • 👉 Technical Analysis - • Complete Technical Analysis Guide By ... • 👉 Trading Strategies: Beginners - • Stock Market Basics for Beginners • 👉 Trading Strategies: Advanced - • Advanced Trading Strategies With HDFC... • 👉 Risk Management - / playlist • list=PL3CmEArrVmrsL7mpF8LHT96ahzo8WJ-AV • 👉 Futures Trading - • Understand Futures Trading With HDFC Sky • 👉 Options Trading - • Options Trading Mastery With HDFC Sky • 👉 Margins Forex Trading - • Learn about Margins Forex Trading W... • -------------------------------------------------------------------------------------------------------------- • Follow us on social media: • Facebook – / 100089751670710 • Instagram – / hdfcsky • Twitter – / hdfcsky • LinkedIn - / hdfc-sky • #insurance #investingforbeginners #hdfcsky

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