Passive income refers to a source of income that does not require continuous efforts. It comes from something that already exists and works for you. You can use the money to pay your term insurance premiums without spending from your primary income. This way, you can build a stable financial future for your family.

Risk cover provides financial protection against risks such as death, illness, accidents, hospitalisation, or property damage. The protection depends on the policy terms. Life, health, and general insurance can help reduce the financial impact of unexpected events on you and your family. Read on to learn about the meaning, benefits, and types of risk cover policies.

Picture a mid-sized manufacturing company in Pune. The founder built it over 15 years. He knows every supplier, every major client, and every operational detail by heart. One morning, he is gone. No warning. The business still has orders to fulfil, loans to repay, and 40 employees waiting for salaries.

This is not a hypothetical situation. It can happen to any business. The concerning part is most of them are completely unprepared for a situation like this.

That is the gap a keyman policy insurance plan fills. Not by replacing the person, but by giving the business enough capital to breathe, regroup, and find a path forward.

Keeping track of multiple insurance policies is not easy. Renewal dates, premium amounts, and physical copies stored in different places, most people find it difficult to stay on top of all of it.

An electronic insurance account (EIA) was built to fix this. This digital platform stores all your insurance policies in one convenient location, so you no longer need to keep track of them individually or worry about misplacing any physical paperwork.

While selecting a life insurance policy, you should understand the difference between sum assured and maturity amount carefully to avoid payout-related confusion. Though some policyholders assume that maturity benefits and sum assured are similar, actually, both of them serve different purposes. Sum assured offers financial security, while the maturity amount offers returns and savings.