Srikara Financial Services promotes awareness on insurance planning for families, professionals, and NRIs.
Our approach focuses on understanding coverage types, tax benefits, and the role of insurance in financial stability.
Life Insurance: Financial security for dependents and long-term goals
Health Insurance: Hospitalization and medical expense coverage
Term Plans: High coverage at lower cost for income protection
Personal Accident & Critical Illness covers: Additional safety nets
Approach
Insurance is viewed as financial protection, not investment.
Srikara Financial Services emphasizes policy awareness and transparent comparison for clients
across Hyderabad and Warangal, enabling informed financial planning and confidence in every stage.
FAQs — Insurance Awareness
1) Why is insurance important?+
It provides financial stability to your family during uncertain situations like illness or loss of income.
2) What is the difference between life and term insurance?+
Life insurance may include savings or maturity value, while term insurance offers pure risk coverage at lower cost.
3) Can insurance be claimed if premiums are unpaid?+
Policies lapse if premiums are unpaid beyond the grace period; some can be revived under conditions.
4) Are health insurance premiums tax deductible?+
Yes, under Section 80D of the Income Tax Act, premiums paid are eligible for deduction.
5) What is the waiting period in health insurance?+
It’s the period after policy start before certain illnesses are covered (commonly 30–90 days).
6) Can NRIs buy insurance in India?+
Yes, most insurers allow NRIs to purchase life and health policies under FEMA guidelines.
7) What is a pre-existing condition?+
Any health issue diagnosed before purchasing a policy; may affect initial coverage period.
8) How is claim settlement ratio important?+
It reflects an insurer’s reliability by showing how many claims were honored vs. received.
9) Can policies be transferred between insurers?+
Yes, health insurance portability allows transfer while retaining benefits under IRDAI rules.
10) What is sum insured?+
The maximum amount an insurer pays in a policy year for covered expenses or benefits.
11) Are there combined plans for life & health?+
Yes, certain integrated plans provide dual protection; review terms before selection.
12) What is critical illness insurance?+
It offers a lump-sum payout upon diagnosis of specific major illnesses like cancer or heart disease.
13) Can I have multiple health policies?+
Yes, claims can be shared or filed sequentially across insurers within policy norms.
14) Do term plans cover accidental death?+
Yes, standard term plans include natural and accidental death; additional riders can enhance benefits.
15) Is maturity value taxable?+
Tax treatment depends on policy type and Section 10(10D) conditions.
16) Can premium be paid from NRE account?+
Yes, NRIs can use NRE/NRO accounts as per FEMA guidelines for Indian policies.
17) What happens if I delay renewal?+
Coverage stops during the lapse period and resumes only after renewal confirmation.
18) How to choose the right coverage?+
Select based on income, dependents, liabilities, and future goals; consult a licensed advisor if needed.
19) Is online policy purchase safe?+
Yes, provided the purchase is through authorized insurer websites or IRDAI-registered intermediaries.
20) How does Srikara support insurance awareness?+
We share unbiased information to help clients understand products, coverage, and claims process clearly.