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.

In this podcast, we speak about:

00:00 : Introduction

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

We hope you found this podcast useful! Do subscribe for more.

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