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Why Term Insurance your Best Bet?

navnit-marine-logoA life insurance policy that does not provide sufficient financial aid to the dependents at the time of need just defeats the purpose of buying the policy altogether.

The purpose of any insurance plan whether life or non-life, is to provide financial safety and aid the policy holder (or his/her dependents) in the case of an unfortunate event. Buying life cover is important and ensuring that it is adequate is paramount. A life insurance policy that does not provide sufficient financial aid to the dependents at the time of need just defeats the purpose of buying the policy altogether.

If one is looking at buying life cover then apart from the amount of insurance cover, deciding about the type of policy is also important. There are various types of plans to choose from; below we discuss basics about term insurance and how term insurance scores over other types of insurance plans.

TERM INSURANCE EXPLAINED:
Term insurance plans are the vanilla ice creams of the insurance world. They are the most basic plans without any frills yet they fulfill the purpose well. As is clear from the name, term insurance is insurance for a particular term. This term can vary from 10 to 30 years depending on the choice and age of the insured.

If the insured dies during the policy term and the policy is active the nominees get the sum assured. Sum assured is the lump sum amount the beneficiaries (nominees) get when the insured passes away. This sum assured in term plans is fixed and is not related to any external factors.

The premium paid by the insured depends on the age of the insured, policy term and the sum assured or cover that one seeks. These plans do not offer any money back or no amount is returned at the end of the policy period if the insured outlives the term.

Buy Term Insurance Policy

WHY ARE TERM INSURANCE PLANS A SAFE BET?
Term insurance plans are products that are designed to cover the insurance needs of the individual and do not mix insurance with investments. The primary reason for buying a term plan is to provide sufficient and assured financial security to your loved ones. Being designed in a no fuss way gives these plans a few inherent advantages which are as follows:

HIGHER COVER AT LOW PREMIUMS: When we compare the cover offered in term plans vis-à-vis premium paid they turn out be the most economically viable option. They offer higher cover at lower premium.

The premium paid for a term plan is much lesser than that would be required if a person wants to buy an endowment plan, ULIP or a money back policy that offers the same cover amount.

Since there is no investment component in these plans the entire premium is used to provide insurance cover which makes them a low cost high benefits option

COULD HELP IN FINANCIAL PLANNING: Term plans could also aid in financial planning. Depending on the life stage, number of dependants and liabilities the insured could choose to increase his life cover.

With an addition to the family you could choose to buy another term plan to match the additional needs; similarly if you take a home loan you could buy a term insurance that matches the loan amount and loan tenure.

The insured could choose to add specific riders and could also covert it to a whole life policy in certain cases. The amount that is saved by not buying an expensive insurance plan can be invested in another option that offers better returns.

UNCOMPLICATED AND FLEXIBLE IN DESIGN: When you buy a term plan, you are sure that if you pay a fixed amount as premium every year, your dependants are assured of getting a predefined amount in the unfortunate event. This amount will not change due to market conditions, the companies profit or loss or any other factor.

This provides certainty and you can plan exactly as per your needs how much cover your dependants require. Since no part of your premium invested you do not have to keep a track of what is being invested and what is being used to provide you premium. This can get complicated for a layman. While it is fixed in the sum assured; these plans provide you flexibility in paying premiums annually, bi-annually or quarterly.

Tax breaks on all insurance plans are an additional advantage. However it is important to remember that term plans should be bought as early as possible because with progressing age they become cost prohibitive and lose the edge of being economical when compared to other options.

About Navnit Insurance Broking Private Limited

Navnit Insurance Broking relationship with our customers lies at the heart of our business philosophy. We believe in understanding their needs and becoming their valued partners and advisors, committed to meeting their requirements at every stage of their lives.

Talk to us today to get your Insurance needs sorted at info@navnitinsurance.com or +91 22 26203322

Life sector reports robust 22% growth in first-year premiums for FY2015-16

navnit-marine-logoLife insurers in India reported growth of 22.6% in total first-year premium collection to INR1,387 billion (US$21 billion) for the year ended March 2016 as compared to the previous financial year, according to IRDAI data.

Individual non-single premium collection increased by 8.6% for FY2015-16 to INR425 billion, reported Business Today citing the data.

State-owned LIC continues to be the leader with a market share of 77%. LIC issued more than 20 million new policies as against 6.2 million policies issued by private-sector insurers for FY2015-16. Its first-year life business grew by 24.7% as against 17.6% for private insurers for the year. LIC’s total first-year premiums for FY2015-16 stood at INR976.74 billion, including INR201 billion from non-single premium policies.

SBI Life, HDFC Life and ICICI Pru Life remained market leaders among the 23 private-sector players with shares of 4.7%, 4.3% and 2.1% in total first-year business.

About Navnit Insurance Broking Private Limited

Navnit Insurance Broking relationship with our customers lies at the heart of our business philosophy. We believe in understanding their needs and becoming their valued partners and advisors, committed to meeting their requirements at every stage of their lives.

Talk to us today to get your Insurance needs sorted at info@navnitinsurance.com or +91 22 26203322

Hire a Luxury Yachts – Princess 64

We are pleased to share with you a fresh look at the stunning Princess 64. Pictured above is the 64 fitted with an optional new style hardtop and with a grey hull finish. Below is a selection of the latest interior photography showing a new contemporary style.

 

Whether you’re relaxing or entertaining, her exterior provides exceptional space and flexibility.

 

The flybridge creates a magnificent family entertaining space, with a large table for alfresco dining, generous seating and full wetbar with barbecue. The table in the cockpit gives you an alternative location to eat and relax. For those guests that enjoy swimming or water sports, the electro-hydraulic bathing platform can house a 3.25m jet-rib, to enable effortless launch and recovery.

 

Her interior is light, welcoming and impeccably finished with the finest fittings and materials. The dining area is located forward of the saloon and adjacent to the galley, turning the whole of the main deck into a highly sociable area to entertain.

 

Highly unusual for this size of craft, her lower accommodation features four spacious cabins, three of which enjoy en-suite facilities. All are furnished to the highest of standards. A fifth aft cabin, with twin beds and en-suite shower room, can also be optionally specified for crew or occasional guests.

 

 

Meticulously Designed

 

Whether you’re relaxing or entertaining, her exterior provides exceptional space and flexibility.

 

The flybridge creates a magnificent family entertaining space, with a large table for alfresco dining, generous seating and full wetbar with barbecue. The table in the cockpit gives you an alternative location to eat and relax. For those guests that enjoy swimming or water sports, the electro-hydraulic bathing platform can house a 3.25m jet-rib, to enable effortless launch and recovery.

 

Intelligently Designed

 

Her interior is light, welcoming and impeccably finished with the finest fittings and materials. The dining area is located forward of the saloon and adjacent to the galley, turning the whole of the main deck into a highly sociable area to entertain.

 

Highly unusual for this size of craft, her lower accommodation features four spacious cabins, three of which enjoy en-suite facilities. All are furnished to the highest of standards. You can also specify a fifth aft cabin, with twin beds and en-suite shower room, for crew or occasional guests.

 

About Navnit Marine

 

Navnit Marine – a ‘Navnit Motors’ Group Company, gives a wide choice to their customers for pleasure boating right from 17 footer Boat to 80 meter yacht, representing the Best Brands in the world yet competitively priced. We have a wide range of Sport boats, Fishing boats, Sailing boats, Inflatable, JetSki, ATV`s etc., and host of other Marine products & Equipments.

Navnit Marine represents Princess Yachts – one of the world’s finest production yacht builders, Bayliner brand of speedboats & Cruisers, Meridian Yachts and TROPHY brand Sports fishing boats manufactured by U.S. Marine, a division of the Brunswick Family Boat Co. Inc. of USA.

We also deal in SESSA brand from Sessa Marine Srl- Italy, NOVURANIA, a US Brand, rigid inflatable boats, HARRISFLOTEBOTE (Pontoon Boats) of USA, Mercury inflatables, and AirBerth Lift System from Australia.

 

 

Contact Us:-

Navnit Marine Private Limited

Navnit House, Gokul Nagar,

Mumbai Agra Road,

Thane(W), 400601

Mumbai, India

Tel: 022 6677 6659

        022 6677 6658

Mobile:- 09773377555

E-Mail:- info@navnitmarine.com

 

Yacht For Sale India- Bayliner

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Bayliner Introduces the All-New 175 Bowrider 

The dynamic So Worth It! lifestyle that comes with boating aboard a Bayliner is more attainable and rewarding that ever with the debut of the all-new 175 Bowrider, fully redesigned. Not only has the 175 been the top-selling Bayliner model for many years, it has also long been one of the most popular runabouts on the water. The 175 is once again poised to capture the imagination of the boating world.

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The new 175 is built to suit a wide range of boaters, from families with young children to empty nesters who are just getting into the boating lifestyle, said Jeff Behan, president of Bayliner Boats. Lots of families may think a used boat is right for them, but with the 175 they ll discover they can get a new boat for a similar price.

Design, functionality and performance have all been improved, starting with the hull. It’s sleeker and more aggressive than ever, yet maintains Bayliners signature Beam Forward Design: The widest part of the boat extends farther toward the bow, creating more passenger and storage space aboard. The new hull carves out a deeper and more roomy cockpit, as well, propelling the 175
even further ahead as one of the most spacious and storage-rich boats in its class. The deepened freeboard also ensures a safe ride for the entire crew, including small children and pets.

The super-stylish hull doesn t just lend the boat an attractive profile and more onboard space, it also delivers impressive performance. The standard 3.0-liter, 135-hp MerCruiser sterndrive engine launches the 175 without breaking a sweat. If you get your thrills from watersports, opt for the Flight Series Package, which adds a new, forward-sweeping wakeboard tower, integrated Bimini top, a massive extended swim platform (also available as an stand-along option) and aggressive Flight Series graphics. Factor in
updated interior styling including new upholstery patterns, and the sporty 175 has the look of a competition ski boat.

Some of the most innovative functional improvements to the 175 affect storage. Bayliner designers sculpted a new motor box, which features high-capacity cleats on the front and top that allow for larger gear from multi-rider tubes to bulky coolers to be tied down with bungee cords. Two cords come standard. The convenient tie-downs will keep unwieldy stuff secured while underway. The motor box also designed with a flat, recessed surface to double as a table. Additionally, designers added more effective sound insulation to the interior of the motor box, ensuring a quieter and more comfortable on-water experience.

The smart storage solutions continue with the portside dash s lockable glove box, perfect for keeping valuables secure, and a massive ski locker under the floor. And as part of the new standard storage system that includes the motor box tie-downs, Bayliner offers a side storage system with cleats mounted under both gunnels.

In addition to the Flight Series Package (offered for the first time on the 175), an optional Fishing Package is available on the 175, which includes an eight-gallon aerated livewell, 12V MotorGuide® bow-mount wireless trolling motor with quick-release mount, a Garmin Echo 150 fishfinder, a non-skid bow casting platform and pedestal seat, and hullside rod storage.

2012 175 Bowrider Specifications
– Length overall (LOA) 17’6″ (5.33 m)
– Beam 6’11” (2.11 m)
– Deadrise 19°
– Approx weight w/std. engine 1,923 lbs (872 kg)
– Fuel capacity 21 gal (79.5 L)
– Std. engine (U.S.) 135 M MPI/A1 (3.0L) WPS ECT

About Navnit Marine
Navnit Marine – a ‘Navnit Motors’ Group Company, gives a wide choice to their customers for pleasure boating right from 17 footer Boat to 80 meter yacht, representing the Best Brands in the world yet competitively priced.
We have a wide range of Sport boats, Fishing boats, Sailing boats, Inflatable, JetSki, ATV`s etc., and host of other Marine products &
equipments.

Navnit Marine represents Princess Yachts – one of the world’s finest production yacht builders, Bayliner brand of speedboats & Cruisers, Meridian Yachts and TROPHY brand Sports fishing boats manufactured by U.S. Marine, a division of the Brunswick Family Boat Co. Inc. of USA.We also deal in SESSA brand from Sessa Marine Srl- Italy, NOVURANIA, a US Brand, rigid inflatable boats, HARRISFLOTEBOTE (Pontoon Boats) of USA, Mercury inflatables, and AirBerth Lift System from Australia.

To Know More:- Yacht for Sale India – Bayliner

Contact Us:-
Navnit Marine Private Limited
Navnit House, Gokul Nagar,
Mumbai Agra Road,
Thane (W), 400601
Mumbai, India
Tel: (+91) 22 6677 6659
(+91) 22 6677 6658
E-mail: info@navnitmarine.com