Samarth Insurance Services works to provide best insurance deals to clients. My service does not stop when you buy a policy. I continue to work with all my clients throughout the time they have the policy and sometimes after it. So, whether you need to get your address changed, add a rider or put forward a claim, I work on your behalf to ensure that the insurance company processes your requests quickly.
My main objective of providing a complete end-to-end service is to allow you the flexibility to deal with only one insurance agent, and thereby reducing a great cause of stress. Most agents are only concerned about selling you a policy, without ensuring how will you deal with it in case there are issues later? With me, you can remain assured that for any concern of yours (no matter how small it is), I am here.
What is Insurance?
The business of insurance is related to the protection of the economic values of assets. Every asset has a value. The asset would have been created through the efforts of the owner. The asset is valuable to the owner, because he expects to get some benefits from it. It is a benefit because it meets some of his needs. The benefit may be an income or in some other form. In the case of a factory or a cow, the product generated by it is sold and income is generated. In the case of a motor ca, it provides comfort and convenience in transportation. There is no direct income. Both are assets and provide benefits.
● It is possible to protect a life insurance policy form being attached by debtors. The beneficiaries’ interests will remain secure.
Every asset is expected to last for a certain period of time during which it will provide the benefits. After that, the benefit may not be available. There is a life-time for a machine in a factory or a cow or a motor car. None of them will last forever. The owner is aware of this and he can so manage his affairs that by the end of that period or life-time, a substitute is made available. Thus, he makes sure that the benefit is not lost. However, the asset may get lost earlier. An accident or some other unfortunate event may destroy it or make it incapable of giving the benefit. An epidemic may kill the cow suddenly. In that case, the owner and those enjoying the benefits therefore, would be deprived of the benefits. The planned substitute would not have been ready. There is an adverse or unpleasant situation. Insurance is a mechanism that helps to reduce the effects of such adverse situations. It promises to reduce the effets of such adverse situations. It promises to pay to the owner or beneficiary of the asset, a certain sum if the loss occurs.
Advantages of life Insurance
Life Insurance has no competition form any other business. Many people think that life insurance is na investment or a means of saving. This is not a correct view. When a person saves, the amount of funds available at any time is equal to the amount of money set aside in the past, plus interest. A comparison what other forms of savings will show that life insurance has the following advantages.
● In the event of death, the settlement is easy. The heirs can collect the moneys quicker, because of the facility of nomination and assignment. The facility of nomination is now available for some bank accounts, provident fund etc.
● There is a certain amount of compulsion to go through the plan of savings. In other forms, if one changes the original plan of savings, there is no loss. In insurance, there is a loss.
● Creditors cannot claim the life insurance moneys. They can be protected against attachments by courts.
● There are tax benefits, both in income tax and in capital gains.
● Marketability and liquidity are better. A life insurance policy is property and can be transferred or mortgaged. Loans can be raised against the policy.