What is Insurance Planning?
Life is unpredictable, but while we can't prevent unforeseen events, we can shield ourselves from their financial impact through effective insurance planning. As the cornerstone of a solid financial foundation, insurance planning involves selecting the right policies to protect your finances, family, and assets from unexpected challenges. This includes preparing for medical emergencies and ensuring your loved ones are financially secure in the event of a tragedy.
At 1 Finance, we simplify the complexities of insurance planning. Our advisory services are tailored to help you make informed decisions using our research-based scoring and ranking models. We also evaluate your existing policies with our advanced advisory rule engine, helping you determine whether to keep or surrender them based on your needs. Additionally, we assist in identifying the ideal coverage to address any mortality protection gap, ensuring your financial wellness plan is robust and effective.
How can we help you with Insurance Planning?
Insurance Policy Evaluation
Our process at 1 Finance begins with a thorough evaluation of your current insurance policies. We meticulously assess coverage adequacy, policy terms, and how well each policy aligns with your present and future needs. Our goal is to ensure your insurance plans support your financial goals, offering robust protection against potential risks and securing your financial well-being. This approach also helps distinguish between insurance and investment strategies—opting for a term plan for protection while using mutual funds for long-term investments.
Insurance Policy Evaluation
Our process at 1 Finance begins with a thorough evaluation of your current insurance policies. We meticulously assess coverage adequacy, policy terms, and how well each policy aligns with your present and future needs. Our goal is to ensure your insurance plans support your financial goals, offering robust protection against potential risks and securing your financial well-being. This approach also helps distinguish between insurance and investment strategies—opting for a term plan for protection while using mutual funds for long-term investments.
Coverage Recommendations
To address your protection needs, we recommend both Life and Health Protection. Life Protection includes “pure protection” plans like Term Insurance, while Health Protection involves comprehensive health insurance for you and your family. Adequate coverage bridges protection gaps, ensuring your financial plan stays intact without straining your finances.
Our coverage recommendations are based on a detailed assessment of your financial parameters, including current lifestyle expenses, financial goals, dependents, retirement plans, and assets. This helps you secure the ideal coverage for your loved ones and prepares you for medical emergencies. Our advanced scoring and ranking model, represented by the “1 Finance Score,” guides you in making the best choices, ensuring unbiased advice that always prioritises your financial future.
Coverage Recommendations
To address your protection needs, we recommend both Life and Health Protection. Life Protection includes “pure protection” plans like Term Insurance, while Health Protection involves comprehensive health insurance for you and your family. Adequate coverage bridges protection gaps, ensuring your financial plan stays intact without straining your finances.
Our coverage recommendations are based on a detailed assessment of your financial parameters, including current lifestyle expenses, financial goals, dependents, retirement plans, and assets. This helps you secure the ideal coverage for your loved ones and prepares you for medical emergencies. Our advanced scoring and ranking model, represented by the “1 Finance Score,” guides you in making the best choices, ensuring unbiased advice that always prioritises your financial future.
Execution Assistance
1 Finance offers end-to-end execution assistance for Term and Health Insurance. We simplify the process by helping you understand complex terms and conditions using our Scoring and Ranking models. We also provide claims assistance, ensuring you receive support during crucial moments. Our service is completely unbiased, with no sales or commission motives, allowing you to complete the actions outlined in your financial wellness plan with confidence.
Execution Assistance
1 Finance offers end-to-end execution assistance for Term and Health Insurance. We simplify the process by helping you understand complex terms and conditions using our Scoring and Ranking models. We also provide claims assistance, ensuring you receive support during crucial moments. Our service is completely unbiased, with no sales or commission motives, allowing you to complete the actions outlined in your financial wellness plan with confidence.
Policy Surrender Support
As part of our insurance portfolio evaluation, we assess your existing policies using our advisory rule engine to determine which ones are suitable for surrender. This helps eliminate low-yield policies, allowing you to focus on pure protection and potentially reinvest in high-quality instruments for better returns. By correcting coverage and premium disparities, we help you save on premiums or increase coverage with Term Insurance.
Our team guides you through the entire surrender process, ensuring you receive the proceeds smoothly. We then help you relocate these funds into high-quality investments that align with your financial goals.
Policy Surrender Support
As part of our insurance portfolio evaluation, we assess your existing policies using our advisory rule engine to determine which ones are suitable for surrender. This helps eliminate low-yield policies, allowing you to focus on pure protection and potentially reinvest in high-quality instruments for better returns. By correcting coverage and premium disparities, we help you save on premiums or increase coverage with Term Insurance.
Our team guides you through the entire surrender process, ensuring you receive the proceeds smoothly. We then help you relocate these funds into high-quality investments that align with your financial goals.
Documentary
How We Helped a Victim of Insurance Mis-Selling Save 16 Lakh!
Insurance Research Models and Calculators
Gain clarity on your policy's costs and benefits with our advisory rule engines, models, and calculators. These tools simplify managing and optimising your insurance plans, ensuring they work in your best interest.
What do you get with 1 Finance?
Unbiased and Qualified Advisory
At 1 Finance, we don’t sell insurance policies; we offer qualified insurance advice to help you make informed decisions. Our unbiased guidance ensures your best interests are always our top priority.
Assess Mortality Protection Gap
We identify mortality protection gap, ensuring adequate coverage. We recommend necessary actions to secure your financial future based on our findings.
Claims Assistance
If you need to file a claim, 1 Finance is here to guide you through the process. We provide comprehensive support, helping you navigate the complexities and secure your entitled benefits without unnecessary delays.
Policy Surrender Assistance
1 Finance offers complete assistance with the policy surrender process. If a policy no longer meets your needs, our team ensures a smooth and hassle-free surrender process.
Get Insurance Advisory with Qualified
Financial Advisors
Schedule your 1st consultation for FREE
Get Insurance Advisory with Qualified Financial Advisors
Schedule your 1st consultation for FREE
Frequently asked questions
Why is insurance planning important?
Insurance planning is crucial for safeguarding your financial future against unforeseen events. It provides financial security for you and your family, preventing substantial financial losses and helping maintain your lifestyle during emergencies. This acts as the first pillar of building your strong financial foundation through covering protection needs in addition to emergency planning.
What is financial planning in insurance?
Financial planning in insurance integrates insurance strategies into your overall financial plan to protect your assets and income. It ensures that all potential risks are covered, contributing to a comprehensive financial wellness strategy.
What is the insurance planning process?
The insurance planning process involves evaluating your current policies, analysing your needs, choosing suitable coverage, and regularly reviewing your portfolio to ensure it meets your evolving requirements.
Does 1 Finance sell insurance policies?
No, 1 Finance does not sell insurance policies. We focus on providing unbiased insurance advice to help you make informed decisions.
What is the cost of insurance planning services at 1 Finance?
Our insurance planning services are currently offered free of charge, allowing you to benefit from our qualified advice without any initial cost.
Does 1 Finance offer claim assistance?
Yes, 1 Finance provides thorough support during the claim filing process, helping you secure the benefits you’re entitled to.
Can 1 Finance help me surrender my policy?
Yes, we guide you through the policy surrender process, ensuring it is smooth and efficient.
What do you mean by an insurance plan?
An insurance plan is a policy that provides financial protection against specific risks, such as life and health. It helps cover potential losses in exchange for premiums. At 1 Finance, our advisory services are designed to help you choose an insurance plan based on our research-driven scoring and ranking models thereby helping you to make informed decisions
Disclaimer
1 Finance Private Limited is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and has no alliance or association with any Insurance companies. The Information contained above in the scoring and ranking model is provided solely for general interest, educational and informational purposes only and may not constitute any kind of advice. The information for this report was compiled using information from insurance company websites, product brochures, policy wordings, IRDA Annual Reports, and publicly available data. Insurance is the subject matter of solicitation. It’s important to conduct your own research and analysis before making any financial decisions. If you're unclear about what to do, we advise consulting with an impartial advisor.