Welcome to our FAQ page! Here you'll find answers to common questions about insurance, our services, and how we can help you secure your financial future.
Can't find your question? Contact us at +91 9784309640 or email tirgarkuriya@gmail.com
📋 Table of Contents
- About Our Services
- Life Insurance
- Term Insurance
- Health Insurance
- LIC Products
- Premium & Payments
- Policy Purchase Process
- Claims Process
- Tax Benefits
- Policy Servicing
About Our Services
Q1: Who is Keyur Tirgar?
A: I am Keyur Tirgar, an IRDA certified insurance adviser and authorized agent of Life Insurance Corporation of India (LIC Agent Code: 04699-102). With 5+ years of experience, I help individuals and families across Rajasthan choose the right insurance solutions. I work with LIC and multiple leading private insurance companies.
Q2: Do you charge for consultation and advisory services?
A: No, all consultation and advisory services are completely FREE. There are no charges for:
- Initial consultation meetings
- Insurance needs analysis
- Policy comparisons across multiple insurers
- Premium quotes and illustrations
- Application assistance
- Post-purchase support
- Claims assistance
I earn commission from insurance companies on policies sold, which doesn't increase your premium.
Q3: How are you different from buying directly from an insurance company?
A: When you work with me, you get:
- Multi-company comparison - Access to LIC and 10+ private insurers
- Unbiased recommendations - Not tied to one company's products
- Expert guidance - 5+ years experience across various insurance types
- Time-saving - I do the research and comparison for you
- Ongoing support - Lifetime assistance for policy servicing and claims
- Same premium - You pay the same whether you buy directly or through me
Q4: Which insurance companies do you work with?
A: I am authorized to offer products from:
- Life Insurance Corporation of India (LIC) - Agent Code: 04699-102
- HDFC Life Insurance
- ICICI Prudential Life Insurance
- SBI Life Insurance
- Max Life Insurance
- Bajaj Allianz Life Insurance
- And other leading insurers
This allows me to compare and recommend the best policy for your needs.
Q5: What areas do you serve?
A: I serve clients all over Rajasthan including:
- Jaipur, Jodhpur, Udaipur, Kota, Ajmer, Bikaner, Alwar, Sikar, Bhilwara
- All other cities and towns across Rajasthan
Services Available:
- Face-to-face consultations in [Your City] and nearby areas
- Home visits (for local clients and senior citizens)
- Video call consultations anywhere in Rajasthan
- Phone consultations across India
Q6: How can I contact you?
A: You can reach me through:
- Phone/WhatsApp: +91 9784309640
- Email: tirgarkuriya@gmail.com
- Office: Manglam Complex, Banswara 327001, Rajasthan India
- Business Hours: Monday-Saturday, 10 AM - 7 PM | Sunday by appointment
I respond to all queries within 24 hours.
Life Insurance
Q7: What is life insurance and why do I need it?
A: Life insurance is a financial protection tool that provides a lump sum payment (sum assured) to your family/nominees in case of your unfortunate demise.
You need it to:
- Replace your income if something happens to you
- Pay off debts and liabilities (home loan, personal loans)
- Maintain your family's standard of living
- Fund children's education and marriage
- Cover final expenses
Rule of thumb: Your life cover should be 10-15 times your annual income.
Q8: What's the difference between term insurance and traditional life insurance?
A:
Feature | Term Insurance | Traditional Life Insurance |
---|---|---|
Purpose | Pure protection | Protection + Savings |
Premium | Very low | Higher |
Coverage | High coverage at low cost | Moderate coverage |
Maturity Benefit | No maturity benefit | Maturity benefit paid |
Best For | Maximum protection | Protection + guaranteed returns |
Example: For ₹1 crore cover:
- Term insurance: ₹8,000-12,000/year
- Traditional plan: ₹50,000-80,000/year
Q9: How much life insurance coverage do I need?
A: Calculate your life insurance need using this formula:
Life Cover Needed = (Annual Income × 10-15) + Outstanding Loans + Future Goals
Example:
- Annual Income: ₹6 lakhs
- Home Loan: ₹20 lakhs
- Children's Education: ₹15 lakhs
- Total Coverage Needed: (₹6L × 10) + ₹20L + ₹15L = ₹95 lakhs to ₹1 crore
I can help you calculate the exact coverage based on your specific situation.
Q10: At what age should I buy life insurance?
A: As early as possible! Here's why:
Advantages of buying young (25-30 years):
- Lower premiums (can save 30-50%)
- Better health = easier approval
- Longer coverage period
- Lower medical examination requirements
Example: ₹1 crore term insurance premium:
- At age 25: ₹8,000/year
- At age 35: ₹12,000/year
- At age 45: ₹25,000/year
Never too late: Even if you're older, you should still get coverage. Contact me for options.
Term Insurance
Q11: What is term insurance?
A: Term insurance is the purest and most affordable form of life insurance. It provides:
- High life coverage at very low premium
- Death benefit to nominees if you pass away during policy term
- No maturity benefit if you survive the term
- Tax benefits under Section 80C
Best for: Maximum family protection at minimum cost.
Q12: If I survive the term, do I get my money back?
A: In regular term insurance, no maturity benefit is paid if you survive. Premiums are not refunded.
However, there are options:
- Term Insurance with Return of Premium (TROP): Returns all premiums paid if you survive (but costs 40-60% more)
- Regular Term Insurance: Pure protection, no returns (most cost-effective)
My recommendation: Buy regular term insurance for maximum coverage. The money saved can be invested elsewhere.
Q13: Can I increase my term insurance coverage later?
A: Generally, you cannot increase coverage of an existing policy. However, you can:
- Buy an additional term insurance policy
- Exercise increase options (if available in your policy)
- Add riders to enhance coverage
Life events requiring coverage increase:
- Marriage
- Birth of child
- Home loan
- Career growth/income increase
Tip: Review your coverage every 3-5 years or after major life events.
Q14: Do I need term insurance if I have insurance from my employer?
A: Yes, absolutely! Here's why employer insurance is not enough:
Limitations of employer insurance:
- Covers only 2-5 times annual salary (usually insufficient)
- Coverage ends when you change jobs or retire
- No control over policy terms
- May not cover after certain age
Personal term insurance:
- You choose coverage amount
- Stays with you regardless of job
- Covers until chosen age (60, 75, or 100)
- You control the policy
Recommendation: Have personal term insurance equal to 10-15 times your annual income, regardless of employer coverage.
Health Insurance
Q15: Why do I need health insurance when I can pay for medical expenses?
A: Medical costs are rising 10-15% annually. Consider this:
Common medical expenses:
- Normal delivery: ₹50,000-1,00,000
- Caesarean delivery: ₹1,00,000-2,00,000
- Heart surgery: ₹3,00,000-8,00,000
- Cancer treatment: ₹5,00,000-15,00,000+
- ICU per day: ₹10,000-50,000
One major illness can wipe out years of savings. Health insurance:
- Provides cashless hospitalization
- Covers pre and post-hospitalization expenses
- No-claim bonus increases coverage
- Tax benefits under Section 80D
Q16: What is the ideal health insurance coverage?
A: Recommended coverage based on age and city:
Metro Cities (Tier 1):
- Individual: ₹5-10 lakhs minimum
- Family: ₹10-15 lakhs minimum
Tier 2/3 Cities:
- Individual: ₹3-5 lakhs minimum
- Family: ₹5-10 lakhs minimum
Consider higher coverage if:
- You have elderly parents
- Family history of critical illness
- Planning to have children
- Want coverage for super-specialty treatments
Pro Tip: Start with adequate coverage. Upgrading later may involve waiting periods again.
Q17: What is a waiting period in health insurance?
A: Waiting periods are timeframes during which certain conditions are not covered:
Types of waiting periods:
- Initial Waiting Period: 30 days for all illnesses (except accidents)
- Pre-Existing Disease Waiting Period: 2-4 years for conditions you had before buying
- Specific Disease Waiting Period: 1-2 years for specific diseases (hernia, cataract, knee replacement, etc.)
- Maternity Waiting Period: 9 months to 4 years
Important: Waiting periods start from policy start date. Don't delay buying health insurance!
Q18: Will my health insurance cover pre-existing diseases?
A: Yes, but after completing the waiting period (typically 2-4 years).
Pre-existing diseases include:
- Diabetes, hypertension, thyroid
- Heart conditions
- Asthma, arthritis
- Any disease/condition you had before buying policy
Important:
- Declare all pre-existing conditions when buying
- Non-disclosure can lead to claim rejection
- Some insurers offer plans with reduced waiting periods
- Portability allows you to carry waiting period credit
LIC Products
Q19: Why should I choose LIC?
A: LIC (Life Insurance Corporation of India) offers unique advantages:
Strengths:
- Highest claim settlement ratio (98%+ consistently)
- Government-backed company
- 75+ years of trust and reliability
- Largest network across India (even remote areas)
- Transparent products with proven track record
- Stable returns and guaranteed benefits
- No survival concerns about company solvency
Best for: Those prioritizing safety, guaranteed returns, and peace of mind over potentially higher returns.
Q20: What are the most popular LIC plans?
A: Top LIC plans I recommend:
1. LIC Tech Term (Pure Term Insurance)
- Highest coverage at lowest premium
- Online purchase available
- No medical test up to certain limits
2. LIC Jeevan Anand (Whole Life + Savings)
- Coverage till 100 years
- Maturity benefit guaranteed
- Suitable for lifelong protection
3. LIC Jeevan Umang (Whole Life + Money Back)
- Annual income from year 31 onwards
- Coverage till 100 years
- Guaranteed maturity benefit
4. LIC New Endowment Plan (Traditional Plan)
- Guaranteed maturity benefits
- Proven product structure
- Simple and transparent
5. LIC Jeevan Labh (Limited Premium)
- Pay premiums for 16 years
- Coverage for 25 years
- Guaranteed additions
I can help you choose based on your specific needs.
Q21: What is better - LIC or private insurance companies?
A: Both have advantages. The right choice depends on your priorities:
Choose LIC if you prioritize:
- Maximum safety and trust
- Government backing
- Highest claim settlement ratio
- Stable, guaranteed returns
- Presence in remote areas
Choose Private Insurers if you want:
- More innovative products
- Potentially higher returns (ULIP)
- Online-friendly processes
- Flexible riders and add-ons
- Critical illness covers
My recommendation: Have a mix of both! LIC for core protection and private insurers for specific needs.
As a multi-company adviser, I help you choose objectively based on YOUR needs, not company preference.
Premium & Payments
Q22: How is insurance premium calculated?
A: Premium depends on multiple factors:
Key Factors:
- Age: Younger = lower premium
- Sum Assured: Higher coverage = higher premium
- Policy Term: Longer term = higher total premium
- Health: Better health = lower premium
- Occupation: Hazardous jobs = higher premium
- Lifestyle: Smoking, drinking = significantly higher premium
- Gender: Females typically get lower premiums
- Riders: Additional covers increase premium
Example: ₹1 crore term insurance, 30-year term:
- 25-year-old non-smoker: ₹8,000/year
- 35-year-old non-smoker: ₹12,000/year
- 35-year-old smoker: ₹20,000/year
Q23: What payment modes are available?
A: You can pay premiums through:
Payment Frequency:
- Annual (yearly)
- Half-yearly (every 6 months)
- Quarterly (every 3 months)
- Monthly (some policies)
Payment Methods:
- ECS/Auto-debit from bank account
- Online payment (net banking, UPI, cards)
- NEFT/RTGS
- Cheque/Demand Draft
- Cash (limited amounts only)
Recommendation: Annual payment mode gives best value (saves 2-4% compared to monthly).
Q24: What happens if I miss a premium payment?
A: Insurance policies provide a grace period:
Grace Period:
- Annual/Half-yearly/Quarterly: 30 days
- Monthly: 15 days
During grace period:
- Policy remains active
- Coverage continues
- Pay premium + late fee (if any)
After grace period:
- Policy lapses
- Coverage stops
- No death benefit payable
- Revival required to reactivate
Tip: Set up auto-debit to never miss payments!
Q25: Can I revive a lapsed policy?
A: Yes! Lapsed policies can be revived:
Revival Process:
- Apply for revival within specified period (usually 2-5 years)
- Pay all outstanding premiums with interest
- Submit health declaration or undergo medical tests
- Insurance company approves revival
Important:
- Revival is not automatic - company may reject based on health
- Earlier you revive, better your chances
- Some benefits may be affected during lapsed period
- Term insurance revival is particularly difficult
Prevention is better: Never let policy lapse. Contact me if facing premium payment difficulty.
Policy Purchase Process
Q26: What is the process to buy insurance through you?
A: Simple 5-step process:
Step 1: Free Consultation (30-60 mins)
- Understand your needs, family, finances
- Assess insurance requirements
- Discuss budget
Step 2: Proposal & Comparison
- Customized recommendations from multiple insurers
- Side-by-side comparison of features and premiums
- Answer all your questions
Step 3: Decision & Application
- You choose the best policy for you (no pressure)
- Help with accurate form filling
- Document collection
Step 4: Medical Examination (if required)
- Coordinate medical test scheduling
- Some policies don't need medical tests up to certain limits
Step 5: Policy Issuance
- Application submitted to insurance company
- Policy issued within 7-30 days
- Receive policy document
- I explain all policy details to you
Ongoing: Lifetime support for servicing and claims!
Q27: What documents are required to buy insurance?
A: Basic documents needed:
Identity Proof (any one):
- Aadhaar Card
- PAN Card
- Passport
- Voter ID
- Driving License
Address Proof (any one):
- Aadhaar Card
- Passport
- Utility Bills (electricity, gas)
- Bank statement
- Rent agreement
Income Proof (for high sum assured):
- Latest 3 months salary slips
- ITR (Income Tax Returns)
- Form 16
- Bank statement
Additional:
- Recent passport-size photographs
- Age proof (birth certificate, school certificate)
- Medical reports (if any existing conditions)
I will provide you a complete checklist based on your policy.
Q28: Do I need medical tests to buy insurance?
A: Depends on age, sum assured, and health:
Medical tests NOT required if:
- Term insurance up to ₹50 lakhs (age-dependent)
- Younger age (typically below 40-45)
- No pre-existing diseases
- Non-smoker
Medical tests typically required for:
- Higher sum assured (₹1 crore+)
- Older age (45+ years)
- History of health issues
- Smokers/tobacco users
- Hazardous occupations
Common tests:
- Blood test (sugar, cholesterol, kidney, liver)
- Urine test
- ECG (if above certain age)
- TMT/Stress test (for higher age/amount)
Good news: Insurance company arranges and pays for medical tests. You just need to visit the center.
Q29: How long does it take to get the policy?
A: Timeline varies by insurer and policy type:
Typical Timeline:
Without Medical Tests:
- Application submission: Same day
- Company processing: 3-7 days
- Policy issuance: 7-15 days
With Medical Tests:
- Medical test scheduled: 2-3 days
- Report processing: 5-7 days
- Underwriting decision: 7-15 days
- Policy issuance: 15-30 days
Factors affecting timeline:
- Completeness of documents
- Medical test results
- Underwriting queries
- Payment confirmation
I will keep you updated throughout the process!
Claims Process
Q30: How do I file an insurance claim?
A: I provide complete claims assistance. Here's the process:
Step 1: Immediate Intimation
- Inform me immediately: +91 9784309640
- I will guide you on immediate steps
- Inform insurance company within 24-48 hours
Step 2: Document Collection
- Death certificate (for life insurance)
- Hospital bills and discharge summary (for health)
- Original policy document
- Claim form (I will help fill)
- Claimant ID proof
- Bank account details
Step 3: Claim Submission
- I help compile all documents
- Submit to insurance company
- Get acknowledgment
Step 4: Company Processing
- Insurance company verifies documents
- May request additional documents
- I follow up regularly
Step 5: Claim Settlement
- Amount credited to bank account
- Typically 15-30 days for straightforward claims
Remember: I'm with you throughout the process!
Q31: What documents are needed for a death claim?
A: Documents required for life insurance death claim:
Essential Documents:
- Original policy document
- Death certificate (original)
- Claim form (duly filled)
- Claimant's identity proof
- Claimant's address proof
- Cancelled cheque/bank statement
- Nominee's PAN card
Additional (depending on circumstances):
- Medical records/hospital bills (if hospitalized)
- Post-mortem report (if unnatural death)
- Police FIR/Inquest report (accidents, suicide)
- Employer's certificate (if died at work)
- Newspaper report (major incidents)
I will provide complete guidance and help with documentation.
Q32: How long does claim settlement take?
A: Timeline depends on claim type and completeness:
Health Insurance Claims:
- Cashless: Pre-approved before hospitalization
- Reimbursement: 15-30 days
Life Insurance Claims:
- Straightforward claims: 30 days
- Claims requiring investigation: 60-90 days
Factors affecting timeline:
- Completeness of documents
- Cause of death (natural vs. accidental vs. within 2 years)
- Policy age (claims within first 2 years scrutinized more)
- Need for investigation
IRDA Regulation: Insurance companies must settle or reject claims within 30 days. Delay beyond this attracts interest.
I follow up regularly to ensure timely settlement.
Q33: Can a claim be rejected? What are common reasons?
A: Yes, claims can be rejected. Common reasons:
Life Insurance Claim Rejection:
Non-disclosure of material facts (most common)
- Pre-existing diseases not disclosed
- Smoking/tobacco use hidden
- Wrong age stated
Death within first 2 years (contestability period)
- Suicide within first year
- Material fact investigation
Policy lapse
- Premium not paid, policy not in force
Fraudulent claims
- Fake death certificates
- Misrepresentation
Exclusions
- Death due to excluded causes (war, illegal activities)
How to avoid claim rejection:
- ✓ Disclose all material facts honestly
- ✓ Provide accurate health information
- ✓ Keep policy in force (pay premiums on time)
- ✓ Inform company about changes
- ✓ Keep all policy documents safe
My role: I ensure proper disclosure during application to minimize rejection risk.
Tax Benefits
Q34: What tax benefits do I get on insurance?
A: Insurance offers multiple tax benefits:
Section 80C (Life Insurance Premiums)
- Deduction up to ₹1.5 lakh per year
- Applies to premiums paid for self, spouse, children
- Premium should not exceed 10% of sum assured (policies post-2012)
Section 80D (Health Insurance Premiums)
- Self & family: ₹25,000 deduction
- Parents (below 60): ₹25,000 additional
- Parents (60+ years): ₹50,000 additional
- Maximum: ₹1 lakh (if both parents senior citizens)
Section 10(10D) (Maturity/Death Benefits)
- Life insurance maturity proceeds are tax-free
- Death claim proceeds are tax-free
- Conditions apply for policies issued after 2012
Example Tax Saving:
- Life insurance premium: ₹50,000
- Health insurance (family): ₹25,000
- Health insurance (parents 60+): ₹30,000
- Total deduction: ₹1,05,000
- Tax saved (30% bracket): ₹31,500/year
Q35: Are ULIP returns taxable?
A: ULIP taxation rules:
Maturity Proceeds:
- Tax-free if premium ≤ ₹2.5 lakh per year (policies after Feb 2021)
- If premium > ₹2.5 lakh, gains are taxable as capital gains
Death Benefit:
- Always tax-free under Section 10(10D)
Premiums:
- Eligible for Section 80C deduction (up to ₹1.5 lakh)
Partial Withdrawals:
- Tax-free if after lock-in period (5 years)
Important: ULIP tax rules changed in Budget 2021. Older policies have different rules.
Policy Servicing
Q36: Can I change the nominee after buying the policy?
A: Yes! You can change nominee anytime:
Process:
- Fill nominee change form (available with me or insurance company)
- Submit with policy document
- Get endorsement from company
- Updated policy document issued
Important:
- Always keep nominee updated
- Nominee change is FREE
- Update after major life events (marriage, childbirth, divorce)
- Minor nominees need appointee (guardian)
Common situations requiring nominee change:
- After marriage (change from parents to spouse)
- After divorce
- Birth of children
- Death of existing nominee
Q37: Can I increase or decrease my sum assured?
A: Generally, sum assured cannot be changed in existing policy.
Options available:
- Increase: Buy additional policy for more coverage
- Decrease: Reduce premium payment term (not sum assured)
- Some policies offer increase options on life events (marriage, childbirth)
Recommendation:
- Buy adequate coverage from start
- Review needs every 3-5 years
- Add new policies as needs grow
Q38: Can I port my health insurance to another company?
A: Yes! Health insurance portability is allowed:
Benefits of Porting:
- Carry forward waiting period credit
- No fresh waiting periods
- Better coverage or features
- Lower premium
Process:
- Apply 45-60 days before renewal
- New insurer requests data from old insurer
- New insurer underwrites and approves
- Seamless transfer
Important:
- Porting is not automatic - new insurer can reject
- Pre-existing disease waiting period credit carried forward
- No-claim bonus may be carried forward
- May need to pay difference in premium
I can help you evaluate if porting makes sense for you.
Q39: What is policy loan? Can I take loan against my insurance?
A: Yes! You can take loan against eligible policies:
Eligible Policies:
- Traditional life insurance with surrender value
- LIC plans after 3 years of premium payment
- Typically 80-90% of surrender value
Not Available:
- Term insurance
- Pure protection plans
- Policies without surrender value
Features:
- Interest charged (8-10% typically)
- No documentation needed (it's your money)
- Repayment flexible
- Outstanding loan deducted from claim/maturity
Important: Loan reduces your coverage. If you die with outstanding loan, nominee gets (sum assured - loan - interest).
Q40: How do I update my address, phone number, or email?
A: Easy to update! Multiple options:
Option 1: Through Me
- Contact me with updated details
- I'll help with form and submission
Option 2: Online Portal
- Most insurers have online service portals
- Update details after login
Option 3: Branch Visit
- Visit nearest branch with ID proof and policy document
Documents Required:
- Address proof (for address change)
- Current policy document
- ID proof
Why update:
- Receive important policy communications
- Premium reminders
- Claim processing becomes easier
- Renewal notices reach you
Always inform me about changes - I'll ensure smooth servicing!
Still Have Questions?
Can't find the answer you're looking for? I'm here to help!
Contact Keyur Tirgar
📞 Phone/WhatsApp: +91 9784309640
📧 Email: tirgarkuriya@gmail.com
📍 Office: Manglam Complex, Banswara 327001, Rajasthan India
🕒 Business Hours:
Monday - Saturday: 10:00 AM - 7:00 PM
Sunday: By Appointment
Quick Action Links
Keyur Tirgar
LIC Agent Code: 04699-102
IRDA Certified Insurance Adviser
Serving All Over Rajasthan
Your financial security is my priority. Let's work together to protect what matters most to you and your family.
Disclaimer: This FAQ provides general information only and does not constitute professional advice. Insurance terms, conditions, and benefits vary by insurer and policy. Always read policy documents carefully before making decisions. For personalized advice, schedule a consultation with me.