Insurance
We elevate personal finance from a genericservice into a thoughtful, personalised financial management experience.
We elevate personal finance from a genericservice into a thoughtful, personalised financial management experience.
Insurance is not an income generating tool, it is a financial safety net designed to protect your family’s dreams, lifestyle, and hard earned assets from unexpected events. Therefore, at Wealth Vaidya Financial Services, we do not combine insurance with investment or wealth building strategies. Investments help you create happy moments in life, while insurance helps protect those moments if life takes an unforeseen turn. For example, in a family where one member is the primary earner, investments may support long term goals such as education or retirement; however, in the event of an unexpected health issue or loss of income, adequate insurance helps ensure financial stability and continuity of those goals. Insurance needs are highly customised and vary from individual to individual, depending on factors such as life stage, family structure, income level, health condition, occupation, risk exposure, and assets owned, which is why a standard solution may not be suitable for everyone. At Wealth Vaidya Financial Services, we follow an approach similar to a doctor–patient relationship, where understanding the individual comes before recommending a solution. Using structured inhouse tools and well defined methodologies, we objectively assess insurance requirements while keeping insurance and investments as two distinct yet essential pillars of personal finance, aligned with responsibilities and long term financial confidence.
Life insurance is a contract between an individual and an insurance company, under which the insurer agrees to pay a specified sum of money to the nominee in the event of the policyholder’s death during the policy term, subject to the policy terms and conditions. The policyholder pays premiums as agreed in the policy document. The primary objective of life insurance is to provide financial protection to dependents against the risk of premature death.
Life insurance helps protect the financial interests of dependents who rely on the policyholder’s income. In the event of an unforeseen loss of life, the policy proceeds can assist the family in meeting essential financial obligations such as household expenses and repayment of liabilities. Life insurance supports financial continuity for the family and helps reduce financial hardship during difficult circumstances.
Life insurance policies are available in different forms to address varied protection requirements. Term insurance provides life cover for a specified period and pays the sum assured only in case of death during the policy term. Whole life insurance provides coverage for the lifetime of the insured, subject to policy conditions. Endowment and money-back policies offer life cover along with structured benefits as defined in the policy. Unit Linked Insurance Plans provide life insurance cover with benefits linked to the performance of underlying funds, subject to market risks. Benefits under each policy depend on the terms and conditions specified in the policy document.
Before purchasing a life insurance policy, individuals should assess their insurance needs based on income, financial responsibilities, and dependents. It is important to choose an appropriate sum assured and policy term. Policy features, exclusions, premium payment terms, claim settlement process, and the insurer’s service record should be reviewed carefully. Policyholders are advised to read the policy document thoroughly and seek clarification before purchase.
General insurance provides financial protection against losses or damages arising from non-life risks. It covers events such as accidents, fire, theft, natural calamities, medical emergencies, and other specified risks, subject to policy terms and conditions. General insurance policies are usually issued for a fixed duration and require renewal to continue coverage.
General insurance includes various categories such as health insurance, motor insurance, home insurance, travel insurance, and commercial insurance. Health insurance covers medical and hospitalization expenses. Motor insurance provides coverage for vehicles against damage or loss. Home insurance covers residential property and contents against specified risks. Travel insurance provides coverage during travel, and commercial insurance offers protection for business-related risks. Coverage varies based on the policy chosen.
Health insurance is a contract that provides coverage for medical expenses arising from illness, injury, or hospitalization, subject to policy terms and conditions. It helps policyholders manage healthcare costs by providing financial assistance for covered medical treatments, including hospitalization and related expenses.
Health insurance helps individuals and families manage rising healthcare expenses and access timely medical treatment. It reduces the financial burden of hospitalization and medical care and provides access to network hospitals for cashless treatment, where applicable. Health insurance supports financial preparedness during medical emergencies.
When selecting a health insurance policy, individuals should review the sum insured, coverage benefits, exclusions, waiting periods, and sub-limits. It is important to check the list of network hospitals, claim settlement procedure, and customer support services. Choosing between individual and family floater policies should be based on healthcare needs. Policyholders are advised to disclose all material information accurately and read the policy document carefully before purchase.
Insurance is the subject matter of solicitation. Policy benefits, coverage, terms, and conditions vary across products and insurers. Customers are advised to read the policy document carefully before making any decision.