Taru Financial Services considers it a privilege to support families/beneficiaries in getting their claims sanctioned, regardless of whether we initiated the policy or not. We take it upon ourselves to represent people who are in dire need of the benefits of the policy, but don’t have the proper resources to get through the right channel. It is our pride and responsibility to stand in support of a deceased insurance holder, who is survived by his family or next of kin and provide services without charging any fee.
Taru Financial Services guides you to reach your desired financial dreams through various instruments in order to make your life more colourful and exciting. We expertise in financial planning and we have a reputation of creating easy and smooth ways for our patrons to reach their goals.
02 - Title Verification
A title is an official document declaring details of an insurance, such as the policy number, name of the holder, details of the nominees, maturity date and information about premium. This title is subject to changes when the policy holder is married or in some other cases where the preference is given to his/her spouse to be the nominee. This verification of title is not done usually by many policy holders but it is very important.
03 - Restarting a lapsed policy
A life insurance policy is lapsed when premiums are not paid in the stipulated time or the grace period. A lapsed policy means the benefits of the policy will not be available to the dependants of the policy holder but is can be revived before the maturity period. This can be done after the repayment of unpaid dues with interest and by submitting the documents required for reinstatement of policy.
04 - Assignment/Re-Assignment
Transferring the benefits of a life insurance policy or the monetary proceeds to a third-party lender as a collateral for a loan is called assignment of insurance. In case of the policy holder’s demise, the assignee is given first preference over the benefits of the policy and then the rest of the proceeds is directed towards the nominees.
05 - Loan
Taru Financial Services will be glad to facilitate loan process for both home loans and policy loans.
Getting a home load sanctioned is easily said than done. It might seem like all the banks are facilitating easy procedures for home loans, but in reality, it is very tiring task. Home loans can be complex at times and it is very important to keep informed about it completely before getting one.
When the cash value of an individual’s life insurance policy is pledged as collateral for a loan taken from the insurance company, then it is called Policy Loan. This type of loans is also called as Life Insurance loans. The interest rates are very low comparatively.
06 - Mediclaim
This is one of the most underrated insurance policies of all. In spite of its significance there aren’t enough steps in place to make it mandatory. While a vehicle insurance is made mandatory by law, the rider of that vehicle isn’t given equal importance. Mediclaim policy helps the policy holder by covering his hospital expenses that he/she has incurred, and also unexpected medical expenses. Various costs such as medication, room rent, ambulance charges and surgery cost are covered under Mediclaim policy. The premium paid for Medical Insurance is tax deductible under Section 80 D of the Income Tax Act, 1961. Tax deduction is the complementary gift that a person can avail by paying medical insurance premium and in this case, the policy can be in the name of
- Person’s Spouse
- Dependent Children
- Parents who are not dependent on the policy holder
There are 4 types of Mediclaim that everybody should be aware of
- Family Floater
- Senior Citizen
- Overseas Claim
07 - General Insurance
It is important for a company to secure its capital investments against loss or damage of the necessary materials purchased for the undergoing project. The company also needs to protect its property from third party claims. General Insurance for companies makes sure you overcome all these problems and puts you in a position of control over your company. Fire and burglary, third party liability, stock insurance, missionary insurance, personal accident policy to the employees, workman compensation, money in transit, marine insurance are all included under general insurance.