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ESTJ

An ESTJ is someone with the Extroverted, Sensing, Thinking, and Judging personality traits. ESTJ  stands for Extroverted, Sensing, Thinking, Judging. ESTJ indicates a person who is energized by time spent with others (Extroverted), who focuses on facts and details rather than ideas and concepts (Sensing), who makes decisions based on logic and reason (Thinking) and who prefers to be planned and organized rather than spontaneous and flexible (Judging).

Some Qualities of ESTJ:
ESTJs are joiners. They seek out like-minded companions in clubs, civic groups, churches, and other service organizations. Tradition is important to the ESTJ. They are hardworking traditionalists who enjoy organizing people and projects and they are rule-abiding, and conscientious. Holidays, birthdays, and other annual celebrations are remembered and observed often religiously by this type. Responsibility is another key focus for ESTJs. They love to provide and to receive good service. ESTJs have an acute sense of orthodoxy. Much of their evaluation of persons and activities reflects their strong sense of what is “normal” and what isn’t. ESTJs thrive on order and continuity. They often serve as a stabilizing force among others, able to offer solid direction amid adversity.
ESTJs are conventional, factual, and grounded in reality. For the ESTJ, the proof is in the past; what has worked and what has been done before. They value evidence over conjecture and trust their personal experience. ESTJs look for rules to follow and standards to meet, and often take a leadership role in helping other people meet expectations as well. The ESTJ wants to achieve efficient production and also believes this is best accomplished when people and systems are well organized. They are contented, energetic, prejudiced, self-satisfied, and practical. They usually try to be satisfied in their marriage. They are among types most satisfied with their work. They have high-ranking personal values which include Health, Financial Security, Achievement, and Prestige. They like work where they can achieve immediate, visible, and tangible results.

ESTJ Strengths:
Organization and efficiency – ESTJs are good at putting things into a logical order and taking an efficient and orderly approach to tasks, or projects. They are always punctual and tend to be reliable and dependable.
Dedication and commitment – Commitment is about one’s obligation while dedication is about one’s passion in the performance of the obligation. ESTJs are committed and full of energy in everything they do. They not only give their level best to accomplish a task and meet the goals but also create an example for others.
Integrity – ESTJs have the quality of being honest and have strong moral principles. They value honesty in relationships with coworkers, customers, and stakeholders. Honesty and trust are central to them. Acting with honor and truthfulness are also basic tenets of ESTJs.
Strong-willed – ESTJs are determined to do as one wants even if other people advise against it. They are strong and go to great heights to succeed in the given tasks.
Direct and honest – Being direct is being honest and genuine while remaining diplomatic and respectful.
Loyal, patient, and reliable – ESTJs have or demonstrate undivided and constant support for someone or something. They exhibit consistently good in quality or performance whom one is able to trust. They are mostly patient in their behavior.
Enjoy creating order – ESTJs enjoy creating order in both their professional and personal lives. They can create order out of all the chaos and unpredictable things and give security to the environment by establishing transparency, set rules, a promising structure and clear cut roles and responsibilities.
Excellent organizers – ESTJs work to implement efficient organizational systems and processes and to identify areas for improvement.

ESTJ Weaknesses:
Judgmental – ESTJs may get into having or displaying an overly critical point of view. This can be detrimental in creating friction in their relationships.
Uncomfortable with emotions and unconventional situations – ESTJs may believe that disclosing their thoughts and feelings to those they care about would result in their rejection or are simply afraid of angry feelings or conflicts with people.
Workaholism – Workaholism is an addiction, obsessive-compulsive disorder, and it’s not the same as working hard. ESTJs may go through it if they are stressed out to accomplish a task or reach the finest levels of perfection. Having said that, if they love what they do, working long hours doesn’t put ESTJs at risk.
Stubborn and inflexible – ESTJs can become stubborn refusing to move or to change their opinion, obstinate, and firmly resisting. They can be inflexible that is not capable of bending and become rigid and unyielding.
Too focused on social status – ESTJs want to be well respected and looked up too by others in their community or social group. Obsession with social status is one of those bad addictions that can take one to nothing. It’s such a huge obsession that they can at times give up absolutely everything of worth in their lives to focus only on climbing the social ladder.
Difficult to relax – ESTJs seem to be energized all the time. Everyone gets anxious sometimes, but if your worries and fears are so constant that they interfere with your ability to function and relax then you should focus on learning ways to relax and let go.
Difficulty expressing emotion – ESTJs find it difficult to express their emotions to someone else. ESTJs may believe that disclosing their thoughts and feelings to those they care about would result in their rejection or are simply afraid of angry feelings or conflicts with people.

ESTJ Growth and Development:
In order to reach their full potential, ESTJs should:
Withhold judgment – Sometimes ESTJs can be critical and fault-finders to the extent that it becomes hurtful for others. A little understanding and kindness are required to diplomatically handle things so that one is not rude and hurting others in an attempt of being truthful and honest.
Live and let live – One should tolerate the opinions and behavior of others so that they will similarly tolerate your own.
Be more self-critical – Before voicing out your opinion ESTJs must be critical of oneself or one’s actions in a self-aware manner so that they are in control of the consequences.
Get in touch with their feelings – To be in touch with your feelings means that you’re aware of your body. You can literally feel your moods. When you’re sad, your body does not feel the same as when you’re happy. If you can stay aware of your body, you will learn to associate certain physical sensations with certain emotions.
Take it easy – ESTJs can sometimes become overworked. Take it easy is only asking you to relax, and not get hyper or charged up due to a particular incident.

Work Front for the ESTJ:
Your personality type and corresponding preferences can make it easier to work in some occupations, and harder to work in others. As a result, people with certain personality traits find themselves in certain types of occupations and workplaces more often than in others. In order to be content and fulfilled in the workplace, it is important to match your occupation and work environment to your personality type. This is because job satisfaction is at its highest when your job engages your strong personality traits. Similarly, it boosts professional fulfilment when your job is in line with your attitude, values, and preferences. Job-related stress is lower when your responsibilities at work correspond to your personality-related preferences. Having to meet job requirements that conflict with your personality type may lead to significant dissatisfaction. For instance, if you are an expressed introvert and your job requires frequent, prolonged social interaction, it can make for a very frustrating situation that may lead to burnout. This is not a comprehensive list, but rather a compilation of a few examples to illustrate the idea.
ESTJs like to be in occupations that require thorough analysis, practical planning and organizational skills, process control and responsibility. ESTJs like to be in control and often seek out management positions as they like to be in a role where they can make decisions and enforce policies and procedures. ESTJs develop a reputation in the workplace as people who can be trusted to deliver, on time and as requested. They are very reliable and gain satisfaction from bringing a project to completion. Because of their eagerness to take on responsibility, they sometimes become overworked. The ideal work environment for an ESTJ is highly structured, with a clear set of expectations and an organized hierarchy structure. The ideal job for an ESTJ allows them to use their organizational skills within a set of standardized procedures to efficiently produce a tangible result. ESTJs career paths are mostly as clear and straightforward as they are themselves.

Careers for the ESTJ:
It is important to note that any personality type can be successful in any occupation. However, some occupations are well suited to the natural talents and preferred work style of the ESTJ, while other occupations demand modes of thinking and behavior that do not come as naturally to the ESTJ. Occupations that require the ESTJ to operate outside their natural preferences may prove stressful or draining, and often sound unappealing to ESTJs who are choosing a career.

Top careers for the ESTJ include:
Airline Pilot, Athletic Trainer, Attorney, Auditor, Budget Analyst, Building Inspector, Chef, Chief Financial Officer, Chief Information Officer, Civil Engineer, Cost Estimator, Credit Analyst, Database Administrator, Dentist, Factory Supervisor, Farmer or Rancher, Financial Counselor, Flight Engineer, Funeral Director, General Contractor, Hotel Manager, Industrial Engineer, Insurance Adjuster, Insurance Agent, Judge
Management Consultant, Mechanical Engineer, Military Officer, Office Manager, Paralegal, Pharmacist, Physician, Police Officer, Project Manager, Property Manager, Public Administrator, Purchasing Agent, Real Estate Agent, Real Estate Appraiser, Restaurant Owner, Sales Engineer, Sales Manager, School Principal, Stockbroker, Vocational Teacher…

ESTJ Careers to Avoid:
The following occupations have been found to be unpopular among ESTJs, based on data gathered from surveys of the general population.
Actor, Art Director, Artist, Child Care Provider, Cosmetologist, Graphic Designer, Librarian, Musician, Nurse’s Aide, Physical Therapist, Preschool Teacher, Psychologist, Recreation Worker, Restaurant Host, Social Scientist, Social Worker, Veterinary Assistant, Writer…

ESTJs resent disorganization, ineptitude, laziness and especially dishonesty, and when these values are crossed. ESTJ personalities do not hesitate to let their disapproval show. So long as everyone plays by the rules, ESTJs are incredibly efficient, their love of structure and thoroughness leaving a record of accurate, complete work that is on time and on budget. Executives are natural auditors, financial officers and business administrators, and any such and similar roles are excellent choices for them. People with the ESTJ personality type stick to projects until they’re finished, big or small, and are very organized.

Personality Test

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Check your personality type from the below-mentioned 16 personality types:
ESTJ ESTP ESFJ ESFP ENTJ ENTP ENFJ ENFP
ISTJ ISTP ISFJ ISFP INTJ INTP INFJ INFP

Kotak Life’s SYSTEMIC BENEFIT PLAN

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You earn and work hard to accomplish your dreams and aspirations at every stage of life. In this journey, you will come across some unexpected financial commitments as well as planned ones like marriage; child education, etc. During your golden years of retirement when income earning capacity reduces, it becomes even more difficult to fulfill these dreams and aspirations.
What if you have a support that will not only help you in fulfilling your dreams but will also take care of your near and dear ones in case you are not around …
The value of your hard-earned money is best understood by you. The most important thing is to ensure that the money is put in the right use for it to provide benefits to you and your family in the long run.
To support you in this journey, we recommend the “KotakLife Systemic Benefit Plan”, a limited pay participating endowment plan which will provide you the option either to receive Cash bonus payouts every year right from the end of 1st policy year onwards to take care of interim financial requirements or utilize such Cash bonuses for accumulating and creating a corpus to fulfill bigger goals and plan for a stress-free life.

What is an Endowment Policy? A traditional insurance plan pays out a lump sum assured in the event of the death of the policyholder. The beneficiaries/dependents/nominees of the life insured receive a benefit (called a death benefit) if the worst should come to pass for the insurance holder. An endowment plan works the same way, but has an additional clause that states that a lump sum payment will be made to the insurance holder if he or she survives till the end of a specified period known as the “maturity period”, “endowment policy term” or “survival term”. There are variations to the payout clause in endowment policies – some companies have a lump sum payout on the detection of a critical illness, or other life-changing events.

Key Features of Endowment Policies:
Sum assured in an endowment policy is payable either on survival to the term or on death occurring within the term.
Endowment policies are available as ‘With Profit’ and ‘Without Profit’ plans.
Under Endowment policies, bonus for the full term is payable on the date of maturity or in the event of death, whichever is earlier.
Premiums for endowment policies can be limited to shorter term or can be paid as single premium.
Premiums cease on death or on expiry of the term, whichever is earlier.

Benefits of Endowment Policies:
Endowment policies carry plenty of benefits, a few of which are listed below:
An endowment policy will provide insurance cover during the policy term.
An endowment policy will pay out a sizeable lump sum amount at the end of the policy term i.e. once the policy has matured.
An endowment policy works to serve a dual purpose. Not only does it work as an insurance policy but also serves as a long-term investment offering decent returns.
Endowment policies come with tax benefits.
In terms of investing, endowment policies are relatively safer than other types of investments and offer returns that are close to those offered by mutual funds.
Endowment policies enable long-term savings.
With an endowment policy, you can be assured of receiving a considerable amount upon maturity.
Most will extend insurance coverage and the promise of benefits even after the maturity date, in some cases up to a time when the life insured attains the age of 100.
Policyholders have the option of opting for additional riders that provide cover for specific illnesses, critical illnesses, disabilities, etc.

Some Popular Endowment Plans In India:
Reliance Endowment Plan
LIC New Endowment Plan
Shriram Life Insurance – New Shri Life
Kotak Life’s Systematic Benefit Plan

KotakLife’s Systematic Benefit Plan – This plan is most recommended as it is the best endowment plan available in India. It is a participatory plan which means you get a share in the bonus and have long-term benefits with guaranteed and tax-free returns. One of its kind it has tax benefits as well. In this, you get two plans, i.e. Kotak Premier Money Back Plan and Kotak Premier Income Plan which means it is a combination of two plans which helps you to get 2 maturity benefits, one in the 23rd year and 2nd in the 24th year.

Other Important factors or as we can call the Insurance Language:
Entry Age of Life Insured (as on last birthday) Minimum:3 years; Maximum: 50 years
Policy Term: 24 years less Entry Age of Life Insured
Basic Sum Assured: Beginning of Policy (BOP) =11Lac+ from Day1, End of Policy (EOP) = 26Lac+.
Premium Levels-12 Pay : Rs. 1Lac; 15 Pay : Rs. 1Lac.
Premium Payment Term: 12 and 15 years. The longer the premium payment term the more are its benefits.
Premium Payment Mode: Yearly, Half-yearly.
Returns happen in the 6th year of 1Lac, 12th year of 1Lac, 13th to 22nd year of 60%, 18th year of 160%, 23rd prematurity-approx. 9lac, 24th-full maturity 11lac.
You get a life guardian benefit rider with this plan in which if in case of proposer dies within the premium payment term, the entire future premium will be paid off and benefit will keep on coming to life insured. There are other riders as well that you could avail but have their own underwritings which need to be followed.
Tax savings under 80C as per the customer’s taxation slab.
ALL RETURNS ARE GUARANTEED AND TAX-FREE.

LIVE EXAMPLE OF THE PLAN

For the NRI Sector or Non-Resident Indians (NRIs), People of Indian Origin (PIOs) 
Q. Can NRI buy life insurance in India?
Yes; Non-Resident Indians (NRIs), People of Indian Origin (PIOs) can buy a life insurance plan in India. Foreign Exchange Management Act (FEMA) allows NRIs to buy any plan that meets their requirements of protecting themselves and their family whether he is currently residing in India or not.
No matter how far you go, home is always where the heart is. That’s often the case with many NRIs who have left a piece of themselves behind in India. India is one of the world’s largest recipient of international remittances. This clearly indicates that most NRIs are still deeply connected to their roots.
Moreover, it’s an opportune time to invest in India – we have a strong and stable majority government, a lot of foreign investment is flowing into the country and the world has its eyes set on the Indian market due to its immense scope for growth.
Q. What are the required documents?
Apart from normal KYC documents, we need
👉Passport
👉Work Permit/Valid Visa
👉Latest immigration Stamp- Last India Entry and Exit in the passport
👉Foreign Address proof
👉Income proof life Salary Slips or Bank statement.

Look for your options and choose the best!

To get a customized plan and understand which is the best plan for you feel free to write to us in the comment section or click here to fill the contact form or simply email us at info@brainxasea.com.

Kotak Life’s UNIQUE MONEY BACK PLAN exclusively for children

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What is a Money Back Insurance policy?
A traditional insurance plan pays out a lump Sum Assured in the event of the death of the life insured. The beneficiaries/dependants/nominees of the life insured receive a benefit (called a death benefit) if the worst should come to pass for the insurance holder.
A money-back insurance plan pays out the same maturity benefits in the form of several guaranteed “survival benefits” which are staggered evenly throughout the course of the policy. So, a money-back insurance policy is an endowment plan with the benefit of regular liquidity.

Money-Back Life Insurance Benefits:
Provides insurance cover during the policy term.
Pays out regular benefits throughout the term.
Works as an insurance policy as well as a long-term investment with good returns.
Provides tax benefits.
Less risky than other investments offering similar returns like mutual funds.
Enables long-term savings and regular income.
Ensures that amounts are disbursed regularly.
Some plans extend the insurance coverage guaranteed death benefits even after the maturity date and the last survival period, up to when the life insured attains the age of 100.
There are optional riders that cover things like specific illnesses, critical illnesses, disabilities, etc.

How to Choose a Money Back Policy:
Choosing the right money back policy is key to ensuring individuals receive the maximum benefits from a particular policy. When choosing a money-back plan, individuals should look at the policy tenure. The average tenure for a money-back policy is around 20 years. We have also given our recommendations which also please review.
As money-back policies pay policyholders a Survival Benefit, prospective policyholders should ascertain the percentage of the Sum Assured that will be paid out in installments. The amount should be enough to cover any expenses the policyholder might have.
The type of investments available through the investment component of the policy should be looked over. Policyholders should also verify the duration of the pay-outs being made over the course of the policy term as Survival Benefits. Some plans pay policyholders every 5 years, others have a different timeline depending on the policy tenure.
Policyholders should also check to see if the money-back policy offers tax benefits. Some plans do not offer a tax benefit if 20% of the Sum Assured is being provided as Survival Benefit.

Popular Money Back Plans by Insurers:
LIC Money Back With Profit
LIC Money Back Plan 20 Years
LIC Bima Bachat
HDFC Life Super Income Plan SBI Life – Smart Money Back Gold
Birla Sun Life Insurance Bachat Money Back Plan
Reliance Super Money Back Plan
Kotak Life’s Unique Money Back Plan

Our Recommendation – KOTAK LIFE has launched its most unique and first time in the industry a UNIQUE MONEY-BACK PLAN exclusively for children.

How the UNIQUE MONEYBACK PLAN is STRONGER than USUAL MONEYBACK plan in the industry?

 Usual Money back PlanUnique Money back Plan
1Get Money back every 5 years.Get Money back every year from 2nd year onwards.
2Get 25% Cashback from 5th Year intervalGet 30% Cashback from 2nd year onwards every year
3Benefits gets over in 20 yearsCovers till 75 years of your life.
4Maturity Benefit is Bal SA + Terminal BonusMaturity Benefit of 69.87 lacs.
5Future Premiums may  or may not be waived off for your Child in case of deathIn case of death of the Premium Payer, all future premiums are waived off and benefits continue for your child.

The following are 5 unique benefits OF Kotak Life’s UNIQUE MONEY-BACK PLAN.
Get money back every year for 70 years of your life
Take 30% of the annual premium every year from the second year onwards.
Pay – 11 Lacs and get total benefits of more than 94 Lacs – Total Tax-Free
Avail tax benefit of 80C and 10(10((D)).
In case of death of the premium payer – all the future premiums are waived off and all benefits will be given to your child – Guaranteed.

There is more to it with the KotakLife feature of UNFAIR TRADING ADVANTAGE compared to any other investment.
Min 10 times of Insurance cover.
Benefit of WAIVER OF PREMIUM in case of death of Premium Payer.
Tax benefit US 80C and 10(10((D)) [Under section 80C, premiums that you pay towards a life insurance policy qualify for a deduction up to ₹1.5 lakh, while Section 10(10D) makes income on maturity tax-free if the premium is not more than 10% of the sum assured or the sum assured is at least 10 times the premium.]
EEE benefit – Benefit on Premiums Paid, on Bonus and Maturity.
Highest liquidity – Money back from the second year.

Money Back Policy FAQ’s

  1. Is the amount received through a money-back policy taxable?
    If the premium paid is more than 10% of the Sum Assured for policies purchased after April 1st, 2012, the amount received is taxable.
  2. Is there a penalty if I do not pay my premium for my money back policy on time?
    If the premium amount is not paid within the grace period allotted for the same, the policy lapses and benefits associated with the policy cease. If the premiums have been paid for a minimum of 3 years, a paid-up value for a reduced sum is created.
  3. Can I revive a money-back policy?
    Money-back policies can be revived within 2 years from the date the last premium was paid.
  4. Can I transfer my money back policy?
    As of now, it is not possible to transfer a money-back policy. The policy can be surrendered if desired.
  5. How do I surrender my money back policy?
    A money-back policy can be surrendered on its attaining cash value (after payment of 3 years’ worth of premiums). The policy will have a surrender value based on the policy tenure and the number of premiums paid.

For the NRI Sector or Non-Resident Indians (NRIs), People of Indian Origin (PIOs) 
Q. Can NRI buy life insurance in India?
Yes; Non-Resident Indians (NRIs), People of Indian Origin (PIOs) can buy a life insurance plan in India. Foreign Exchange Management Act (FEMA) allows NRIs to buy any plan that meets their requirements of protecting themselves and their family whether he is currently residing in India or not.
No matter how far you go, home is always where the heart is. That’s often the case with many NRIs who have left a piece of themselves behind in India. India is one of the world’s largest recipient of international remittances. This clearly indicates that most NRIs are still deeply connected to their roots.
Moreover, it’s an opportune time to invest in India – we have a strong and stable majority government, a lot of foreign investment is flowing into the country and the world has its eyes set on the Indian market due to its immense scope for growth.
Q. What are the required documents?
Apart from normal KYC documents, we need
👉Passport
👉Work Permit/Valid Visa
👉Latest immigration Stamp- Last India Entry and Exit in the passport
👉Foreign Address proof
👉Income proof life Salary Slips or Bank statement.

To get a customized plan and understand which is the best plan for you feel free to write to us in the comment section or click here to fill the contact form or simply email us at info@brainxasea.com.

MWP ACT on Insurance Policy

What is all about buying Life Insurance under MWP Act? - Succinct FP
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Safeguarding women’s rights and interests have always been crucial in any society. The Married Women’s Property Act (MWP Act), 1874 was also enacted for similar reasons.
Let’s understand what the MWP Act is, how it secures your family and the pros and cons of the Act.
What is the MWP Act?
The Married Women’s Property Act (MWP Act) is an act that states that an Indian married woman’s earnings are her own property. This act is included in the life insurance policy bought by any man and mandates that the money received by the wife from the policy is her property and it cannot be used to repay the husband’s liabilities.
How does the MWP Act protect my family?
Under the MWP Act in insurance only your wife and children can lay a claim on the policy proceeds. No other relative, heirs or creditors can stake a claim on the money. When compared to other policies, the creditors can claim the money from the proceeds if you have debts and loans to your name. But under the MWP Act, the rules are different. Even though you may have debts, your family would be financially secure.
Who should you opt for MWP Act?
Any salaried individual can buy a term insurance policy under the MWP Act. If you are a widower or a divorcee, you can still name your children under this Act. You can nominate only your wife and children and no other family member or heir would be able to lay a claim. But the beneficiary cannot be changed later even if you end up divorcing your wife.
How to buy term insurance under the MWP Act, 1874?
Buying your term insurance plan under the MWP Act, 1874 is quite a simple process.
● When you are filling out the insurance paper, you will find a question that if you wish to purchase term insurance under this Act.
● You have to select ‘Yes’ as your answer.
● If you select the option then you will have to provide information regarding your nominee, which includes name, date of birth, your relationship with the nominee, and the percentage of share.
● The policy under the MWP Act in insurance only allows your wife and children to be your nominees.
Who all are covered under the MWP Act?
The MWP Act India allows you to buy a term plan that covers the financial requirements of your family in case something unfortunate happens to you. The nominees under the Act can be:
● Only your wife.
● Only your children (both natural, as well as adopted).
● Your wife and children together.

When you are buying the policy under this Act, you can also add trustees. According to the MWP Act in insurance, the trustees can be multiple people, including any of your nominees, or a financial institution/bank. It is not mandatory to include any trustee in the form and you can change the trustees at any time. If you choose to have trustees then you have to provide proof of their consent along with the insurance form.Illustration for a better explanation
Mr. Roy had bought a term insurance plan under the Married Women’s Property Act in India and added his wife and children as nominees. When he had suddenly passed away, the lender of his home loan demanded that their dues are paid using the sum assured received from the term insurance policy. The case was taken to court and the verdict was given in favor of the family. The MWP Act made sure that the wife and the children receive the money.The purpose of the term insurance plan is to financially protect the family after the policyholder’s death. The MWP Act, 1874 ensures that even more effectively.

Pros and cons of the MWP Act
Pros
The needs of the policyholder’s family are given priority. The MWP Act India is applicable to every married woman respective of their religion. The term insurance cover is used to protect the needs of the family and not for any other purpose. There is no requirement of creating a trust separately for your children. The Act helps women empowerment by providing them with financial security
Cons
The policyholder’s debt cannot be paid with the cover. There is no option to change beneficiaries. The policyholder needs consent from the adult nominees in writing to make any changes to the policyThe risk of misuse is higher

FAQs on MWP Act
1. Under the MWP Act, can I assign or take a loan on my policy?
No, you cannot assign someone else or take a loan against the policy if your insurance plan is covered under the MWP Act.
2. Can I surrender a policy which is covered under the MWP Act?
Yes, you can surrender the policy but it has to be signed by the beneficiaries. The proceeds of the policy will be given to the policyholder for the benefit of the beneficiaries.can I change the beneficiary of the policy?
3. If I nominate my wife as the beneficiary but we end up divorcing each other.
No, you cannot change the beneficiary once you have opted for one already under the MWP Act.
4. What if my wife is the beneficiary of the policy but she passes away before me?
In the event of your wife’s death, your legal heir will receive the proceedings of the policy. But it is recommended to nominate more than one beneficiary.
5. Can I have more than one plan under the MWP Act?
Yes, you can have more than one insurance policy under the MWP Act but they have to be registered separately under the Act.
6. Can I nominate my parents as beneficiaries under the MWP Act?
No, your parents cannot be nominated as the beneficiary. The MWP Act only covers your wife and children.
7. Can I assign an existing life insurance policy under the MWP Act?
No, you cannot assign an existing insurance policy under the MWP Act. If you want to assign any policy, it has to be done at the time of purchase.

To get a customized plan and understand which is the best plan for you feel free to write to us in the comment section or click here to fill the contact form or simply email us at info@brainxasea.com.