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Financial Planning: Insurance and Mediclaim

6 August 2021

Resource Person: Mr. Rishi Moolani, Financial Consultant [ LIC, Star Health and Allied Insurance Company ]

Mr. Moolani started by explaining the importance of Insurance and Mediclaim policy in an individual’s life. Financial planning includes contingency, insurance, retirement and wealth planning. He explained how an individual’s financial planning goals can be achieved by availing Insurance and Mediclaim policies.
He explained, Mediclaim policy is an insurance cover that shields an individual against increasing medical costs arising out of hospitalization. It offers financial protection in case of hospitalization due to illness or an accident.
While explaining the importance of the Insurance and Mediclaim policy, he stated benefits such as:
1. Improves Lifestyle
2. Insured’s family is safeguarded
3. It helps in borrowing loans
4. Compulsory Savings
5. Helps to overcome uncertainties
6. Benefits under Section 80 C and 10 (10) D
7. Source of Income in Old Age
8. Tax benefits
9. Financial safety
10. Peace of mind
11. Great returns

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