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Insurance Policies

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  • Insurance Policies

    I use the Insurance policy section to include all policies like Term Life Assurance Policy, Accident Policy, Annuity Policy & Mediclaim Policy (Apart from the usual Endowment Policy & Whole Life Policy, which are savings products also covering risks and have a current value). I keep the current value n these policies as Re 1 (in order to not add any amount to Net Worth of the portfolio since claims can be made only on the happening of an event like death, Accidental death or disability, Expenses on Health issues). The advantage of keeping these policies in this section is two-fold 1. It gives at a glance all live policies & can act as a one-stop platform to the family to check for claims in the event of my death & 2. I can set reminders of due dates for paying premiums so that I do not forget to pay the premiums on time.