Everyone's buying term insurance before premiums get hiked by almost 40% this December.
Here's all you need to know about which add-ons you should consider if you're buying a term plan.
A thread.👇 (1/5)
1.) Life Stage Benefit
Term insurance policies are rigid- coverage stays the same till the policy expires.
👉With a life stage rider, the insurer provides the flexibility to increase cover by a certain amount during major life events like getting married & having kids. (2/5)
2.) Waiver of Premiums
Imagine you get disabled (it’s a painful thought, I know). You lose your job, and your family suddenly has no income.
But you have a life insurance policy. Who will pay the premiums?... (2/6)
In such scenarios, some insurers will allow you to opt for a waiver.
It's them telling you to pay a small fee so you get to keep the policy and don’t have to worry about premiums if you get disabled. (3/5)
3.) Critical Illness Rider
If you opt for a critical illness rider, the insurer will pay a certain amount to help you tide over the crisis of such an illness.
Note: some policies will pay the corpus from your sum insured, so your term cover will reduce by an equal amount (4/5)
If you haven't already, make sure you buy a term policy before the ship sails away.
And if you want some help on that front, book a free call with Ditto Insurance- bit.ly/3ADvAKf.
You’ll have the best insurance advisors at your fingertips. (5/5)
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#Starbucks is the world's largest coffee chain, with 300,000+ employees in over 30,000 retail locations, earning billions of dollars in revenues every year.
But did you know it spent more on employee healthcare than coffee beans? (1/8)
Thread. 👇
The year is 2008, the world is going through a recession and after an 8-year premature retirement, Howard Schultz (Ex-CEO at the time) returns back to take the reins of a struggling Starbucks. (2/8)
The recession had been hard on Starbucks, the promising giant that Howard had left in 2000 had turned into a money bleeding behemoth.
Things were so tense that Howard had to lay off 6,700 employees and close down 600 stores. (3/8)
Insurers can REJECT your claim if your disease treatment falls under a "waiting period"
Here are the key things you need to know about waiting periods in your health #insurance policy.
A thread. (1/8)
💡| As the name suggests, waiting periods in health insurance is quite literally the amount of time you need to wait, for an insurance policy to cover your diseases.
But since it’s insurance, it’s not that simple.
There are mainly 3 types of waiting periods...(2/8)
(1) Initial 30-day waiting period:
~This waiting period is only so that insurers can make sure that someone doesn’t take a policy after they get sick.
~Accidents (since they are unpredictable) & COVID (waiting period could be 15 -30 days) are exceptions. (3/8)
Amazon has just announced insurance cover for Small & Medium Enterprises (SMEs) in the UK.
This is Amazon’s first foray into the insurance selling business, and we cannot be more excited. (2/8)
Amazon is only offering business-related insurance services, like protecting a company’s assets, providing coverage for cyber security as well as professional indemnity for now, but we believe this move has greater implications to the insurance industry as a whole. (3/8)
Everybody visits the doctor at least once a year. But the doctor you visit — Her consultation fee is off the roof. A routine inspection could set you back thousands. (2/8)
So you come up with a genius plan. You decide to buy insurance and opt for a policy that reimburses all expenses incurred during these visits.
You look for options that include outpatient consultation benefits and you find one after a couple of minutes of search. (3/8)