Domain 3
Protecting What You Have
How protection keeps one bad event from erasing everything you have built. Covers health insurance, term life, nominees and wills.
- You're here1Why protection comes before investingYou can build wealth for years and lose it in a single week. Protection is the wall that keeps one bad event from erasing everything behind it. 2 min read
- 2What insurance is actually forInsurance is not an investment and was never meant to be. It is a trade: a small, certain cost today to remove a large, uncertain one tomorrow. 2 min read
- 3Health insurance: the non-negotiableOf all the covers you can hold, this is the one almost nobody should go without. A single hospitalisation is the fastest way an ordinary family loses its savings. 2 min read
- 4How much health cover do you need?Enough that a serious hospitalisation does not force you to top up from savings. The right number depends on your city and your family, not on a magic figure. 2 min read
- 5Individual vs family-floater plansYou can insure each person separately, or cover the whole family under one shared pool. Each suits a different stage of life. 2 min read
- 6Understanding sum insuredThe sum insured is the ceiling on what your insurer will pay in a policy year. Knowing how it behaves, and refills, matters more than the headline figure. 2 min read
- 7Deductibles, co-pay and sub-limitsThree pieces of fine print decide how much of a bill you still pay after the insurer steps in. They can quietly shrink a big cover. 2 min read
- 8Network hospitals and cashless claimsHow you pay a hospital bill depends on whether it is a network hospital. Cashless is smoother; reimbursement means you fund it first. 2 min read
- 9Pre-existing conditions and waiting periodsA new policy does not cover everything from day one. A set of waiting periods switch on cover in stages, and disclosure decides whether they ever pay. 2 min read
- 10Why your employer's cover isn't enoughGroup health cover from your job is a genuine benefit, but leaning on it alone leaves a gap that appears at the worst possible moment. 2 min read
- 11Top-up and super top-up plansA cheap way to buy a large cover: a policy that kicks in only above a threshold you set. It is how people reach high sums without high premiums. 2 min read
- 12Term insurance: the purest coverIf someone depends on your income, this is the cover that protects them. It pays out only if you die during the term, which is exactly why it is so cheap. 2 min read
- 13How much life cover do you need?Enough to replace your income and clear your debts, so the people who depend on you are not left with a shortfall. A rule of thumb gets you close. 2 min read
- 14Term plans vs traditional policiesBoth are called life insurance, but they do very different things. One protects; the other tries to protect and save at once, and does neither well. 2 min read
- 15Why never to mix insurance and investmentThe single most useful rule in this whole domain: keep protection and growth in separate products. Bundled, they weaken each other. 2 min read
- 16What ULIPs really areA Unit Linked Insurance Plan bundles life cover with market investment in one product. It is the classic 'mix' policy, and it repays a close look. 2 min read
- 17Endowment and money-back plans, honestlyThe traditional 'safe' policies your family may already own. They guarantee a return, but the return is usually low enough to matter. 2 min read
- 18Critical-illness coverA different kind of health protection: a lump sum paid on diagnosis of a listed serious illness, to spend however you need. 2 min read
- 19Personal-accident insuranceCheap, often overlooked cover for the financial fallout of an accident: death, or a disability that affects your ability to earn. 2 min read
- 20Riders: which are worth itSmall add-ons that bolt extra protection onto a base policy. A few are genuinely useful; many just pad the premium. 2 min read
- 21How to file a claim smoothlyA claim is stressful enough without avoidable mistakes. Knowing the two routes and their paperwork in advance makes the process far calmer. 2 min read
- 22Common reasons claims get rejectedMost rejected claims are not the insurer being difficult. They trace back to a handful of avoidable causes, and knowing them protects you. 2 min read
- 23Disclosing correctly when you buyHonesty on the application form is not a formality. It is the thing that makes your policy actually pay when it matters. 2 min read
- 24Nominees: getting them rightA nominee is who your insurer or bank hands the money to. Getting it right, and keeping it current, spares your family a painful tangle. 2 min read
- 25Why you need a will (even young)A will is not only for the old or the wealthy. It is the document that decides who gets what, and its absence leaves that to slow, rigid default law. 2 min read
- 26Making a simple willA basic will is shorter and simpler than most people fear. A few clear elements, done properly, are enough to be valid and useful. 2 min read
- 27Nomination vs will: what winsA nominee and a will can name different people. When they clash, it helps to know which one actually decides who inherits. 2 min read
- 28Organising your financial documentsA safety net only works if your family can find it. Scattered policies and unknown accounts are a crisis waiting to happen. 2 min read
- 29An 'if something happens to me' fileA single document that hands your family the map to your finances. The most caring, least glamorous thing on this list. 2 min read
- 30Your family's safety-net checklistEverything in this domain, distilled into a short list you can actually check off. This is what a protected family looks like. 2 min read