Mr. Shekhar Bhandari is the Senior Vice President and Head of Tied channel or Agency Channel at Kotak Life Insurance. As a Sales Head, his primarily responsibility includes strengthening Pan-India distribution and sales force of the company. Shekhar is a Bachelor of Commerce with a further qualification of ACA, ACS & CWA. Prior to joining Kotak Life Insurance, Shekhar has been part of Group Companies Kotak Mahindra Finance and Kotak Mahindra Mutual Fund.
Yogita.khatri:045041 : Good Evening Sir... Welcome to Myiris Live Chat...
shekhar.bhandari:050037 : Hi Good Evening
Pahal:045424 : What should be my ideal level of insurance cover? I am 25 yrs old, earning Rs 15000 a month. plz suggest.
shekhar.bhandari:050317 : Based on fact that you do not have any liability you need to have 20 times your annual salary as risk cover at your age i.e 36 lacs of risk cover
Kapilbhai:050419 : are ulips paln better then compared to term plan
shekhar.bhandari:050631 : Term Plan is pure risk cover on life; ULIPs are bundled form of Investment and Risk. Decision to buy Term/Insurance would be based on your needs
Sunil:050650 : Which policy should I buy? How can I hope to get the right plan for my needs?
shekhar.bhandari:050807 : Sunil, I would request you to brief a bit about your age; income and needs in order to answer to your question.
shekhar.bhandari:050934 : Sunil, I would request you to consult a Life Advisor/ Financial Planner for getting the right plan. You can also post your query on website of the Insurance Company
Kapilbhai:050859 : which are the key points to keep in mind when buying a insurance policy??
sunil:051040 : i m 21 yrs old, income is 13500 a month.
shekhar.bhandari:051245 : Life Insurance Policy meets Life cover and Long term Investment Needs. The key points to see are maturity value, Sum ar Risk (risk cover). The two will cover everything for you
shekhar.bhandari:051507 : Sunil, based on your age and not taking into liabilities you should have risk cover wrapped in Investment plan. You should plan it as Long Term Investment.
Kapilbhai:051456 : what is the maximum tax amount i can save by investing in insurance??
shekhar.bhandari:052027 : You can invest upto Rs 100,000 in Insurance plan and get it deducted from your total taxable income. Assuming you are in highest tax bracket you can save 30% Eductaion cess(2%). Further you can get Rs 15000 deducted towards premium paid towards health Insurance (sec 80D). Additionally you claim further Rs 15000 towards premium paid for health insurance of your parents(sec 80D)
Savita.khan:052027 : I can�t find my dad�s insurance policy and don�t know what company he had it with. What should I do?
shekhar.bhandari:052237 : Insurance Company'a name is must. Look for renewal premium receipt/ any other document/ your financial Advisor or chartered accountant and check previous returns/ docs to search name of Company. Therafter, contact the Company
Jain Kumar:052508 : What kind of risks can I cover under insurance plans?
Leenachandan:052743 : Sir, How beneficial are childrens plans in education planning? What is the tax advantage?
shekhar.bhandari:052957 : Life Insurance Companies help you to with Life Cover and Health Insurance ; Non Life Insurnace covers you for damages caused due to Fire, Water, Accidents,etc.
Lakshmi:053024 : Whether I can get tax cutting if I take NSC?
Mridula:053124 : How will insurance retirement plans compete against NPS which has now been made tax free?
shekhar.bhandari:053242 : Child Plans help you to build corpus for your child's education/marriage/seed capital for business. Premiums paid for Child Plans are eligible for tax benefit u/s 80C (maximum amount eligible u/s 80C is Rs 100,000).
shekhar.bhandari:053335 : NSC is eligible for the calculation of limit u/s 80C (maximum amount eligible u/s 80C is Rs 100,000).
Mitesh:053024 : Sir, can ULIPs help in tax planning? What are your views on recent cap charges on ULIPS
shekhar.bhandari:053538 : Mridula, current Tax laws charge tax on maturiy for Pension (applicable to NPS too).
Mridula:053501 : How can you gain additional benefits from insurance riders available?
shekhar.bhandari:053933 : Mitesh, ULIPs are one of the best Long Term Investment options and help you save your tax by deduction u/s 80C. Recent cap charges on ULIPs will relieve customers of complexity of comparing and worrying about charges.
shekhar.bhandari:054122 : Mridula, you get specific covers (through riders) meeting your needs and that too bundled in one product at comparatively low cost
Khushboo:054208 : Are there any advantages to buying insurance at an early age?
shekhar.bhandari:054243 : Early you Save the better it is.
DK:054426 : What is a contingent beneficiary, A revocable beneficiary, And irrevocable beneficiary?
shekhar.bhandari:054646 : Khushboo, You do get advantage of low premiums in ealry ages and build long term corpus. E.g Rs 2500 saved every month will give Rs 13.75 lacs more compared to starting to save 10 years later
DK:054632 : With the gamut of policies available, which one we should opt for suitable in all circumstances?
shekhar.bhandari:054929 : DK, terminology will take a bit of time to explian....will be mailed to you. Can you give your mail ID
shekhar.bhandari:055249 : DK, Policy is suggested based on needs to the customer. Needs of customer differ from one customer to another. You are requested to see one of the Life Advisor/ Financial Advisor for assessing your needs and suggesting best solution.
DK:055459 : How to calculate the insurance amount that is needed?
shekhar.bhandari:055640 : Rule of thumb- 20 times your annual income. Then depending upon your housing loan/Auto loan/future liabilities ...it will go up.
yogita.khatri:055440 : That is the end of chat session. We thank Mr. Shekhar Bhandari for answering all of your questions. Thank you all for participating in the live chat. We welcome you all to our future chat sessions.
shekhar.bhandari:055827 : Thanks Yogita. I thank MyIRIS registered users for participating in the Live Chat. Kindest Regards
yogita.khatri:055828 : Thank you for your time sir� nice to have you on our live chat session.