Life Insurance UNLOCKED: Secrets Of The Safety Net | ACKtually Speaking | Episode 1

Buying life insurance is a complicated (and boring) process, but what if we told you it could have consequences that could literally haunt your family at their greatest time of need?

Episode 1 of ACKtually Speaking with Maddy takes a long, hard look into life insurance, the way it's been mis-sold and the consequences of not paying attention at the time of buying.

Chapters:
00:00 : Intro
00:14 : The cold call that started it all
00:42 : Why these schemes don't make sense
01:57 : Common misconceptions about life insurance
02:41 : Investment vs. Insurance: Should you mix them?
03:42 : How Life Insurance is sold today
04:17 : What are Pure Protection Plans?
05:44 : What are Endowment Plans?
06:08 : Understanding ULIPs
06:23 : The rationale behind different Life Insurance plans
07:12 : Are FDs are better than life insurance endowment plans?
08:57 : Understanding the actual returns on endowment life insurance endowment plans
10:05 : Cost Comparison: Life Insurance Endowment vs. Term Life Protection Plans
10:47 : The C Word
11:53 : Determining Your Life Insurance Goals
12:21 : Understanding 'Protection' in Life Insurance
13:41 : Life changes in your 30s: What you need to know
15:00 : The real purpose of Life Insurance
15:47 : Reducing liabilities and insurance needs
16:17 : When is life insurance most crucial?
17:20 : The worst disaster that can happen
17:44 : We don't want to talk about bad things
18:20 : Two types of people
19:04 : When the family has no idea about your life insurance policy
19:42 : Having a pragmatic conversation
20:14 : Cultural differences in the West
21:04 : Ensuring that your loved ones are taken care of
21:33 : Why you need a will
22:00 : The right amount of protection
25:43 : A framework for calculating your sum assured
26:20 : Is this an expensive product?
27:00 : Let me say this again
27:45 : Another way of calculating sum assured
28:37 : The good & bad of ULIPs
29:48 : What are "Fund Management Charges" in insurance?
30:59 : Maddy's halftime summary
31:28 : What is the right age to buy life insurance?
32:15 : How life insurance premiums are calculated
33:50 : Importance of buying life insurance early
34:30 : Don't make this mistake when you're buying life insurance
35:10 : Varun's recommendation on how to approach life insurance
35:42 : What are the factors that affect my life insurance premium?
39:11 : Expecting "returns" on term insurance
41:58 : What you need to know about "Zero Cost" Term Life Plans
42:48 : Who's to blame?
43:17 : What you need to know about life insurance claims
47:04 : How life insurance claims can be disbursed

The examples in the video are only illustrative in nature.

ACKtually Speaking with Maddy gets into the grey areas of our financial lives, where seemingly everyday decisions can have a profound impact on us, and the ones we love - whether it's in the way we brush death under the carpet, how we react on the road or the way we approach health - this podcast is a series of no-nonsense conversations driven by our curious, superstar host: R Madhavan.

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