Education
New To Insurance? Keep These 5 Things In Mind While Purchasing Life Insurance
Nothing can be better than a happy and healthy family that supports you throughout your life in every possible way. And, to reciprocate the love and acre, you would want to keep them financially protected. This is where buying life insurance ensures financial protection for your family, when you are not around to take care of them.
Generally, life insurance is a contract between the insurance provider and the policyholder. Here, the insurance company provides an assured sum to the insured’s family for the premiums paid over the years.
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During such situations, it is difficult for the family to manage emotional and financial stress together. Therefore, it is vital to make fund arrangements for your family to help them keep away from financial stress.
You can even opt for life insurance plans such as Term plans, health insurance and ULIPs, etc. There are several benefits that a life insurance plan provides such as:
a) Financial security and Peace of mind
b) Wealth creation, depending on the plan you choose
c) Flexibility of choosing an appropriate plan
d) Tax benefits up to a certain limit
e) Death benefits to the insured’s family
f) Different Rider Options
Before choosing life insurance in India, it is essential to know about the different types of life insurance plans available, to make an appropriate decision in tandem with your financial goals. Below mentioned are the types:
1. Term Insurance Plan
It is an affordable type of life insurance that provides the assured sum at the end of the tenure. You will need to pay insurance premiums for a particular period at regular intervals. With such insurance, the nominee is eligible for receiving the amount in case of your untimely demise.
2. ULIPs (Unit Linked Insurance Plan)
ULIPs are a type of life insurance that provides dual-benefit of investment and life insurance coverage. A part of your amount is invested in market-linked securities like debt, equity, etc., which might be a good source of passive income. Similarly, it also provides a life coverage, in case anything unfortunate happens to you.
3. Child Insurance Plans
This is also a saving cum investment insurance plan that helps meet your child’s financial needs when he/she grows up, such as their education expenses, dream to study abroad, marriage, etc,.
4. Endowment Plan
An endowment plan provides savings benefit along with life coverage. If anything unexpected happens to you during the tenure, the nominee will get the assured sum; if you outlive the tenure, you will receive the amount.
5. Retirement Plans
It is similar to the endowment policy. If you survive the tenure, you can enjoy financial independence during your old age, or otherwise, your nominee will receive the amount.
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After knowing what is life insurance and its types, you should consider a few parameters to buy appropriate life insurance in India according to your financial goals and needs. A few of them below:
1. Coverage Requirements
You need to assess your long-term financial needs and existing assets and liabilities to decide the amount of coverage your family might require in the future. Despite of being financially sound, it is advisable to buy life insurance, to avoid financial difficulties that might arise in the future.
2. Tenure of the Policy
Depending on the age bracket in which you fall, you can decide the length of tenure. It is advisable to start investing at a young age because usually, the premium amount is quite reasonable.
In addition, if you invest this amount for a longer period of time, your family will be eligible for receiving a larger corpus of the fund if anything happens to you. If you start investing at a later stage, you might have to pay a higher premium amount.
3. Rider Options
A basic life insurance policy has certain exclusions. To compensate them, you can buy various rider options like critical illness rider with a basic life insurance plan to cover maximum diseases. The number of illnesses covered and other benefits vary across different providers.
4. Compare Plans, their Benefits and Charges
You should always compare various insurance plans, their benefits and associated charges across various insurance providers using an investment calculator. The one that provides maximum benefits in the premium amount you can afford and levies minimum charges should be preferred. The associated charges might include administration charges, fund management charges, mortality charges, etc.
5. Tax Saving Options
You can save a fair amount of tax if you invest in life insurance wisely. Section 80C of the Income Tax Act, 1961 includes provisions for such deductions in detail. The upper limit of premium payments to avail such deductions is Rs. 1.5 lakhs per annum.
After estimating and comparing the different types of life insurance, you can choose an appropriate life insurance plan depending on your financial goals. It is preferable to choose credible Insurance providers like Max Life Insurance, who have transparent terms and conditions, and provides maximum benefits possible depending on the premium amount. The investors can be worry-free about the return on investments and the claim disbursal in case of emergency.
Begin investing today to have a better tomorrow!
Education
Scaler appoints new heads for its online and offline businesses
Amar Srivastava becomes chief executive of the online business and group chief product officer; Vidit Jain takes charge of the offline schools
BENGALURU: Scaler is shuffling its top deck as the AI skilling race heats up. The Bengaluru-based tech education company has elevated two senior executives to lead its online and offline businesses, signalling a sharper push into an AI-driven market.
Amar Srivastava, previously senior vice president for product and business, has been appointed chief executive of the online business and group chief product officer. Vidit Jain has been elevated to senior vice president and head of Scaler School, taking charge of the company’s offline education units, the Scaler School of Business and the Scaler School of Technology.
The company has also recently appointed Ratnakar Reddy as head of enterprise for India and the Middle East and North Africa, with a brief to drive partnerships with governments and enterprises for AI-led skilling programmes.
Abhimanyu Saxena, co-founder of Scaler, said the promotions reflect the company’s confidence in both leaders and the direction it is heading. “Amar and Vidit have been central to Scaler’s journey, and their elevations reflect our conviction in their leadership and the direction we are shaping as a company,” he said. “With leadership now in place across the business, we remain focused on building engineers the world’s best companies want to hire. In an AI-first economy, that mission is more urgent and more achievable than ever. Our next chapter is centred on building an AI-native workforce from India, equipped to compete in a technology-driven global economy.”
Srivastava brings over a decade of experience building education-focused ventures. He previously founded Intellify and was part of the early team at Doubtnut. At Scaler, he will lead the online business with a focus on growth, profitability and expansion into new segments, while strengthening the product ecosystem across the group. He is blunt about what the AI economy actually needs. “The AI economy does not have a shortage of tools. It has a shortage of engineers who can think clearly, build reliably, and keep learning as the ground shifts. That is what we are building toward,” he said.
Jain brings more than 15 years of experience across startups and consulting, including stints at MPL and McKinsey and Company. He will oversee growth and profitability of Scaler’s offline business. His priorities are immediate and unambiguous. “The offline experience is where depth gets built, and that depth is critical in the AI era. Over the next 12 months, our focus will be on consistent growth, stronger unit economics, and delivering outcomes for students while building long-term employer partnerships,” he said.
Founded in 2019, Scaler is valued at $710 million and backed by Peak XV Partners, Tiger Global and Lightrock India. Its parent firm, InterviewBit, has featured on the Financial Times’ Asia Pacific High Growth Companies rankings every year from 2021 to 2025. On average, Scaler’s learners see a 4.5x return on investment and a salary increase of around 126 per cent.
With leadership locked in across every business unit, Scaler is betting that the next wave of global tech hiring will be won or lost on the quality of engineers coming out of India. It is a big bet. But the numbers, and the promotions, suggest the company is in no mood to hedge.
