Articles

As old age approaches, security and comfort become the most sought after. Advances in science and technology have thankfully lead to an increase in life span but at the same time there exists a requirement of funds for the individual during his retirement period to carry off a certain standard of living and fulfill the day-to-day essentials of life.

Proper financial planning during an individuals’ productive years can put to rest these issues but sadly, such savings habits in every individual is hard to come by. By foreseeing the growing needs of the future and saving an appropriate amount well in advance can help the individual tide over the financial problems that may arise in his old age.

Retirement planning has not been taken seriously in our country. One of the reasons for the pension market not being very attractive may be the not-so-attractive financial options that were available earlier.

Today Insurance market offers you the following:

• Professionalism:
  Today, things have changed for the better. More professionalism is expected with the entry of foreign companies in insurance.
  
• Multiple options:
  The new breed of insurance companies have brought in a variety of financial products to choose from. Besides the insurance plans will be designed in a manner to suit every individual, be it the urban or the rural customer.
  
• Flexibility in Plans:
  The individual need not compromise anymore by merely accepting whatever was handed over to him whether it suited his needs or no. The customer is king today and can purchase just the right product according to his financial needs. In this changed environment, he can have tailor made products too. Insurance companies may come out with policies combining healthcare and pension as also taking into consideration the rising inflation. Such combinations will find a number of beneficiaries.
  
• Improved Service:
  An important area that will go through a total revamp is service. The insurance agents will have to brush up their skills in order to gear up for the competitive market. And you as a customer can expect prompt service unlike yesteryears.
  
• Multiple information channels:
  Informed decision-making is another of those upcoming areas. The customer can take an informed decision today. Insurance agents will not be the only source of information. With dime a dozen channels of information mushrooming each day the customer is bombarded with information explosion. The internet contains a wealth of information and each and every customer can now look forward to receiving every minute detail of the product he plans to purchase at his finger tips.
  

Buying an insurance policy is a long-term investment and it would only do well if you consider all those benefits you will receive in comparison with your financial outflow. With an increased number of financial options available and an equal number of sources for information a proper analysis could help you gain much more than you actually expected.