MANAGEMENT

Detailed explanation-1: -Usually, whole life insurances have higher premiums when compared to term insurances. However, unlike term insurance, where the premiums increase at the time of renewal, with whole life insurance, the premiums stay the same for your whole life.

Detailed explanation-2: -Platinum is the highest of the ACA metal levels. Platinum plans have the highest monthly premiums but the lowest out-of-pocket costs and deductibles. This type of health insurance plan covers 90% of medical expenses, and individuals only need to pay 10%.

Detailed explanation-3: -India’s most expensive policy: Closer to home, a policy4 was purchased with a premium of Rs 50 crore in Mumbai during the demonetisation wave. The record premium was paid by an individual for a pension plan.

Detailed explanation-4: -Most life insurance companies will allow you to get a maximum of 25 times your annual income.