Can I buy more than one term insurance plan? Is it legal to buy and hold more than one term insurance policies? These queries are recently posted to my e-mail ID by one reader. Well, you can apply and hold more than one term insurance policy. There are many reasons for holding multiple insurance policies. Such as hedge against claim rejection, cost benefits, diversify across insurers etc. In this post, we will understand benefits of holding two term plans.
Term Insurance Plan is pure insurance plan that will provide risk coverage to the policyholder. There is no maturity benefit attached to a term plan. The nominee will get a benefit of this policy only in case of unfortunate death of the policyholder. Term insurance plan comes with an accidental rider, premium waiver, and critical illness cover.
Why you should have Two Term Plans?
There are multiple reasons to buy more than one term plans. Few of them are given below.
Extra Cover – You will get extra insurance coverage by opting for two term insurance plans. It will also provide diversification.
Death Benefit – Nominee can avail death benefit from more than one policy.
Hedge against claim rejection – Multiple insurances will act as a hedge against claim rejection. If one insurance rejects the claim. A nominee can still have a chance of claim settlement from another insurer.
Different maturities – You can buy multiple plans with different maturities. One plan could be with longer term while other with shorter term. This will help you to adjust cover according to changing liabilities.
Benefit of additional riders – You can purchase one term plan with additional rider and other without a rider. By this, you can avail the benefits of different key features of insurance policies.
Cost Saving – The cost will be divided into two plans and it may be beneficial to you.
How to Select Best Term Insurance Plan?
You can follow the criteria given below to compare and select best term insurance plan.
(1) Premium
The first point to check is premium. The premium of the plan should be as low as possible. You can get information about premium online on insurer website. You can also do a comparison on the aggregator website.
(2) The reputation of Insurance Company
The reputation of the insurance company is another factor while buying a term plan. The insurance company should be capable of managing the fund and fulfilling commitment given on the policy terms and condition. You should avoid new company while buying a term plan.
(3) Additional Features
The decision to buy a term plan should follow through an understanding of the product and features offered. You should give additional weight to unique features offered by the company. However, make sure that feature offered by the company is necessary for you or not.
(4) Claim Settlement Ratio
Another important factor to consider is claim settlement ratio. Claim settlement ratio means a ratio of claim settled by the company in a year. It is recommended to purchase plan with the company offering higher claim settlement ratio. You can get information about claim settlement ratio from IRDA website.
Restrictions
Whenever you are buying more than one term plan make sure to disclose complete information about first insurance policy to second insurance company. Non-disclosure of this information may leads to rejection of claim.
Apart from that there are certain restrictions on holding more than one life insurance policies. The sum assured of policies should not exceed the human life value.
Claiming Multiple Insurance Policies
The claim process of an insurance policy is simple. A nominee needs to furnish complete information along with claim form to the insurance companies. The document enclosure along with claim form varies based on the insurance company. An insurance company will follow IRDAI guideline and settle the claim within a stipulated time.
Over to you –
Buying a multiple insurance policy seems to be beneficial. However, you need to pay an additional premium for it. It will be difficult to manage multiple insurance policies in terms of premium payment over a period of time.
In the end, I would like to say that there are no restrictions on buying two or multiple term insurance policies. However, in order to avoid claim rejection, you need to share complete information about past term insurance policy when you buy a new insurance policy.
As you are reading this post, I assume that you are looking for Best Business Books. You may be planning to start a new business or planning to expand your business. Whatever be the case I am sure that the books given below will surely help you to prepare for entrepreneurship. You can become successful businessmen or good business manager by reading these books.
Here, we have compiled an exclusive list of 10 Must Read Best Business Books for 2025. These books are collections of business books by best authors that can help you to understand business tactics, business strategy, and leadership skills. You can also enhance your professional skills such as communication, time management, and managerial skills via these books.
These books shall help you as a beginner, a startup entrepreneur, a new or a successful businessman, a student passionate about learning business skills or anyone wishing to become successful at work and in life both. Each and every book is bestseller and No.1 in its own unique way.
Think and Grow Rich is an International Best Seller book. In this book, Napoleon Hill has crafted the philosophy and lifestyle behind those who experienced financial success. The aim of this book is to inspire people towards their own perspective goals.
#2 The Lean Startup
Author – Eric Ries
The Lean Startup is about how constant innovation creates a radically successful business. In this book, the author provides a scientific approach to creating and managing a successful startup business. It is a New York Times bestseller. You should read this book if you are planning to start a new business.
#3 Business at Speed of Thought
Author – Bill Gates
Business at Speed of Thought is a unique book written by Microsoft Chairmen and CEO Bill Gates. In this book, Bill Gates discuss – How technology can help in running a business in a better way. In this book Gates stress that manager should view technology as a strategic asset and not as overhead.
7 Habits of Highly Successful People is a powerful book for a personal change. In this book, the author presents a holistic, integrated, principal –centered approach for solving personal and professional problems. This book provides life-changing experience. You should read this book.
#5 The Art of Start
Author – Guy Kawasaki
The Art of Start is a book which can help you start a new company, a new division, new product, new services or anything new which is related to the business. From raising money to hiring the right people, from defining your positioning to creating a brand, from creating buzz to buzzing the competition, from managing a board to fostering a community this book will guide you everywhere.
#6 The Entrepreneur Mind
Author – Kevin D Johnson
The Entrepreneur Mind is a book that helps you to change the way you think. In the other words, it helps you to develop entrepreneur mind-set. This book also teach us some of the most important lessons of entrepreneurship.
The One Minute Manager is a very short book. This book provides three techniques of an effective manager: one-minute goals, one-minute praisings and one-minute reprimands. These techniques are very helpful for the manager.
#8 How to Win Friends and Influence People
Author – Dale Carnegie
How to Win Friends and Influence People is self-help book. It is one of the bestselling book. This book teaches you how to market yourself and generate more clients. Reading this book will surely help in your personal and professional life.
#9 Getting Things Done – The Art of stress-free Productivity
Author – David Allen
Getting Things Done is popular as GTD book. It is also called as time management or productivity improvement book. This book teach us to keep every task small so that it can be done in a short amount of time. It is one of the fastest way to achieve the goal. If you want to increase productivity and learn art of getting things done you should read this book.
#10 The Four Hour Work Week
Author – Timothy Ferriss
The Four Hours Work Week is one of the best business book. This book is about escaping 9 to 5, live anywhere and join the new rich. It teach us to various principal of life about business and personal life.
BONUS BOOK
#11 Zero To One
Author – Peter Thiel
Zero to One is book by venture capitalist and paypal co-founder. This book is about notes on startup or How to build the future. It’s recommended reading for startups, entrepreneurs and innovators.
This was my list of most popular and best business books. I am sure that reading these books will surely help you in starting up and managing your business.
Have you read any of these Business books? Are you planning to get any one of these business books? Which is your favourite one?
Do share your views on Best Business Books given above. If you want to add any other business books to the list above, feel free to share the same in the comment section below.
Introducing 50 Best Small Business Ideas with low investment and high profit in 2025.
As you are reading this post, I assume that you are planning to start your own business and looking for business ideas. More and more people are becoming an entrepreneurs nowadays. If you are one of them who is bored with 9 to 5 job and want to take the plunge of business, you are at the right place. In this post, I will share an exclusive list of 50 Best Small Business Ideas for 2025.
The Best Small Business Ideas list given below includes everything like low-investment business, manufacturing business, part time business, home based business, online business etc. Select a business idea based on your skillset, experience and availability of capital.
For better understanding I have divided small business ideas in various categories –
#1 Technology Based Small Business Ideas
#2 Food Based Small Business Ideas
#3 Manufacturing Business Ideas
#4 Environment based Small Business Ideas
#5 Online Small Business Ideas
#6 Home Based Business Ideas
#7 Part-time Business Ideas
#8 Unique Business Ideas
#9 Other Small Business Ideas
50 Best Small Business Ideas for 2025
#1 Technology Based Small Business Ideas 2025
Virtual Reality
The first technology based small business idea is related to virtual reality. The demand of virtual reality-based project is increasing. Virtual reality is instrumental in education, real estate, digital advertising, real estate and lot of other areas. If you have expertise in this area you can start your own business. The possible business scenarios are virtual reality device trading and developing platform & app for managing VR based products.
Small Robot Toy Making Business
The next technology based small business idea is small robot toy making business. This idea demands technical knowledge and electronic background. So, if you are capable of making small robot toys you can grab the market in the year 2019
Digital Consultancy
Each and every business is adopting new technology and industrial 4.0 revolution. Digital is new buzz word for everyone. It gives lot of business benefits. A digital consultant help business owner to atomize the business process with use of tools or applications. It is a very lucrative business idea.
Smart Home Appliance
A smart home is made up of smart IoT enabled devices. These types of devices can be monitored or operated online. Starting from Stove, TV, refrigerator, water heater, cooking utensil everything is becoming smart. In this business you can either trade smart appliance or involve yourself in providing consultancy for configuring or converting devices into smart device.
Chatbot
Almost every website is becoming smart by adopting chatbot concept. Chatbot is a computer application that simulates human conversation and respond via performing action by reverting with predefined answers. This helps to enhance customer satisfaction and services. Making chatbot is new technology business with lot of scope.
IoT Business
The next in the list of new business ideas is IoT (Internet of Things). Today almost everyone uses multiple gadgets. Internet of Things or IoT is a business of connecting this device together with internet, collecting information and developing a fruitful solution. The solution could be for business or for personal usage.
Mobile App Development
A usage of smartphone is skyrocketing. Every business owner and website owner demand for mobile application. If you have skillset in application development you can start this business. It is very good profitable option.
The first food based small business idea is vegan food. A demand of vegan food is increasing day by day. “vegan food near me” is one of the top search google query. In this business you can either prepare own vegan food and sell or trade in readymade vegan food.
Food Kit Sale & Delivery
The second food based business idea is food kit sale & delivery. Everyone is living busy life and they are ready to spend money on readymade food. Thus starting a food kit sale & delivery is lucrative business option.
Diet Food Making
People are becoming diet conscious. They are ready to spend money on diet food. This gives birth to new business called as diet food making. You can open store and sell diet food. You can even plan to sell diet food online.
Organic Farming
Organic Farming is next in the list. A demand of the organic product is growing like anything. It gives birth to organic farming. Organic farming means growing fruit, vegetable, and crops in an organic (natural) way. These types of food are used for making various products and food-related items. If you have an inclination towards farming you can start organic farming.
Food Delivery
Food Delivery at home is next in the list of food based business. This business can be started in two ways. First is traditional food delivery and second is development of platform for food delivery.
Readymade Food Shop
Readymade Food shop is one of the best food based business idea. People are fond of namkeen and readymade food. They usually prefer readymade food instead of cooking at home. This makes readymade food shop lucrative business option.
A demand of paper is very high. Papers are used in school, colleges, corporate and various other places. Thus, starting a manufacturing business related to file, paper and folder is lucrative option. You can start with small paper manufacturing unit and expand at later stage.
Manufacturing of Toys
Toy industry is evergreen and profitable industry. In this business, you need to manufacture toys for children. You should be creative in making toys. It will help you get success in this business.
#4 Environment based Small Business Ideas 2025
Plastic Alternative
The first environment based business ideas is related to plastic alternative. A plastic bottle and plastic bags are banned at many places. This gives birth to recyclable and reusable alternatives to plastic products. In this business you need to develop and sell plastic alternative products.
Landscape Services
The second business idea related to environment is landscape services. In this business, you need to offer landscaping services. This means activity related to gardening. Many business and individual avail landscape services.
Pollution Mask
Increase in pollution gives birth to new business idea of pollution mask. In this business, you need to manufacture and sell pollution mask. Many individual opt for pollution makes to fight against pollution.
Solar Panel
Solar Panel manufacturing is next booming business. This business requires big investment. However, return from this business is very high.
E-Waste Recycling Plant
Usage of the electronic component is skyrocketing nowadays. Once these electronic components complete the useful life it becomes e-waste. The e-waste contains a lot of components including gold and silver. If you have expertise in processing electronic waste, you can start your own e-waste recycling plant.
#5 Online Small Business Ideas 2025
Online Coaching & Consultancy
The first online business idea is online coaching and consultancy. You can do this business in two ways. First is via starting your Youtube Channel and second via starting your own website.
Blogging
Blogging is one of the best online business idea. In this business you need to start blogging by writing content as per your area of interest. Once your blog gets popularity you can start paid content or earn from advertising.
YouTube Channel
YouTube Channel is one of the best online business idea. In this business, you need to create unique videos on various topics. You can shoot videos via camcorder or you may use software to make videos. You need to post videos on your channel. Once your channel gains popularity you can make money via advertisement or paid membership.
Online Store
Online store is next in the list of online business idea. It is one of the high investment business idea. To start this business, you can use existing business platform or design your own store.
Affiliate Marketing
Affiliate marketing means promoting others product on your website and help them to increase the sale. On every product sell, you will get a commission. There are multiple websites that provide affiliate marketing program. The success of this business is based on your skill and area of interest.
#6 Home Based Business Ideas 2025
Insurance Agency
A first home based business is insurance agency. In this business you need to sell insurance policies. You will earn commission on every policy. You should have good communication skill and convincing power to become successful in this business.
Networking Marketing
Network marketing is one of the best home based business. In this business you need to sell product and services of associated company. Your income includes income from your own sales and percentage income from the sales group which is recruited by you. This business demands time and dedication.
Tiffin Services
If you are good at cooking or develop good recipe you can start tiffin services. You need to do proper market research before starting this business. Investment required for this business is very low. Tasty food and timely delivery is formula of getting success in this business.
Hand Made Gift
Handmade gift is one of the best creative business idea. In this business, you need to serve customer by offering handmade gifts. You can open online or offline store. A success rate of this business is high.
Seasonal Decoration
Next business is seasonal decoration. Occasion such as Diwali, Birthday, Christmas, marriage demand different types of decoration material. If you are creative you can start business of decorative material form home.
Appliance Repair
Any home appliance require repair and maintenance. If you have expertise you can start appliance repair business at home. A success rate of this business is moderate.
Spoken English Coaching Class
Starting spoken English coaching class is next in the list. To start this business, you need to be expert in English language especially spoken English. Many student and professional opt for spoken English course. This makes spoken English coaching lucrative business option.
#7 Part-time Business Ideas for 2025
Language Classes
Learning a foreign language is a trend today. Students and working professional both opt for learning a foreign language. French and Spanish are popular foreign language. If you expert in any of these languages you can start foreign language class.
Tuition Class
Starting at Tuition Class is one of the best part time business idea. If you have good teaching skill and knowledge you can start this business. You just need few wooden benches and blackboard for starting this business. At an initial stage this business demands mouth publicity or advertisement.
Real Estate Agent
One of the highly profitable business ideas is opening real estate agency. In this business, you need to help people in finding the right property for rent or sell. You can earn hefty commission from every transaction.
Stock Market Trading
One of the most profitable business is stock market trading. You can start this business from the moderate capital. However, this business demands a lot of knowledge and expertise. You have to be extremely good in trading to make a profit.
#8 Unique Business Ideas for 2025
Children Play Area
Children Play Area is becoming popular business option. Children love spending time at creative play area or at place where they can feel adventure. You can start your own business by establishing such a place. Investment required for this business is moderate.
Antique Business
Antique product business is very good business idea. In this business you will be dealing with antique items and furniture. You can start this business by arranging auction or by opening a small shop. This business requires high investment.
Funeral Services
Funeral Services is growing concept. These type of organization help families and relative to take a decision and give them advice about a ritual of the funeral. Not only that they will arrange for all material required during the funeral ritual.
Doula Services
Doula service is a new concept in India. Doula services mean providing emotional, physical and assistance to pregnant women in getting the information she needs to make empowered decisions throughout her pregnancy, birth.
#9 Other Small Business Ideas 2025
Market on Wheel
Market on Wheel is upcoming concept. In this concept, you need to make vehicle which will look like shop. You need to sell household items on the move. It is low investment and profitable business idea.
Remote Employee Monitoring
The next idea is remote employee monitoring. It is a tool to monitor and record the amount of time employee spend on actual work. This is to minimize waste of time and increase productivity. There are many readymade tool available online. Your task is to identify and associate with selling of such tools.
Corporate Wellness
Corporate Wellness is the program that is designed to support employee wellbeing. Every organization opts for the corporate wellness program. If you are an expert in designing corporate wellness program you can start your own business related to corporate wellness. It is one of the best evergreen business idea.
E-bike Sell and Repair
Selling electronic bike or starting electronic bike repair service is the next new business idea. The demand for electronic bike is growing and in the future, we may see a huge rise in the usage of the e-bike. Thus starting E-bike sell and repair is one of the very good lucrative business options.
Dating Consultant
Dating consultancy is new concept. If you are creative and good at communication you can become online dating consultant. It is a new concept. In this business, you need to advise people on dating and love life. It is a larger responsibility as you are dealing with someone’s love life. You need to act as an account manager for dating sites.
Video Making/Editing
If you know video making or editing you can earn a lot of money. There are many people who are looking for professional video maker or editor. Alternatively, you can establish your own business of providing professional video making and editing. It is a futuristic business with a lot of potential.
Tea Coffee Shop
Starting a tea or coffee shop is next in the list of low cost business ideas. In this business, you need to rent small place or stall for opening tea stall. You will also need raw material for making tea and coffee. It is advisable to start this business near school or colleges.
Travel Agency
Travel agency is one of the best business ideas with low investment. The travel industry is an evergreen industry. People across world travel a lot for various purposes. In order to help them with lodging boarding and travel you can opt to start own travel agency. It is low investment business.
Mobile Repair
Mobile repair and recharging business is next in the list of low cost business ideas. Before starting this business, first you need to learn mobile repairing. It is recommended to do course on mobile repairing. The investment required for this business is very low.
Mobile Auto Garage
Mobile Auto Garage is latest business that can be started with low investment. You need to keep mobile manpower/repairers for this business. It is a good business idea because car breakdown takes place in the area where garage service is not available.
Home Insurance is offered at the time of taking Home Loan. Most of the time people avoid home insurance policy. It is due to lack of awareness. Home Insurance policy is also popular as property insurance.
The home insurance policy covers structure and content. It provides insurance coverage to home against natural calamities such as earthquake, flood, fire, burglary etc. There are very few companies in India that offer Home Insurance Policies. A home insurance policy is a must for all homeowners. In this post, I will share detail information about Home Insurance Policy in India. I will also provide information about insurance companies offering home insurance policies.
Home insurance policy provides coverage to home-owners against damage and losses that affect their property and belongings. The exact policy coverage varies from policy to policy; however, mostly all insurance policies safeguard home structure against natural and man-made calamities.
Many policies also offer financial assistance if a property is damaged badly and the homeowner is required to stay somewhere else.
Key Features of Property Insurance
Provide protection against earthquake, flood, storm, cyclone etc.
Covers against burglary.
Cover against fire and allied perils.
Jewellery and valuables coverage against accident or misfortune.
Optional Cover for Domestic Mechanical, Electrical, and Electronic appliances.
Personal Accident Coverage for earning member.
Additional Rent for alternate accommodation.
Type of Property Insurance
The property insurance policy is available in four types –
Structure Cover – This type of policy only cover the structure of your home. The compensation under this policy is paid to repair damages to structure caused by nature or man-made disasters.
Content Cover – The content cover provide coverage of content inside your property. If content stored under property is damaged or lost due to accident or burglary, insurance company provide compensation against content.
Fixed Sum Insured – Sum insured under selected under the policy, will be same throughout policy period, however, discount in premium will be offered as per duration of the policy.
Increase in Sum Insured – Sum insured under the policy shall increase by a certain percentage of the original sum assured every year.
Property insurance policy is provided for both owned and rented home.
Home Insurance Policy in India
Home Insurance policy in India is provided by various insurance companies. The list is given below. (Please do not consider this as a recommendation list).
To ease out selection of best home insurance policy here are some important tips.
Check premium and coverage – First, you should evaluate the risks which your home is likely to face in the future. For example, if your home is in earthquake-prone zone you should buy structure insurance. If a theft incident in your area is common you can go for content insurance also. While buying a policy you should check premium and coverage offered by the policy.
Sum Assured – If you feel that risk level is expected to increase in the future you should buy increasing sum assured policy. If risk level is low you can go for a fixed sum assured.
Claim Settlement Ratio – It is a good idea to check for claim settlement ratio before zeroing in on one insurer.
Customer Support & Claim Process – You should also look at customer support and claim process while buying an insurance policy.
Should you Buy Home Insurance Policy?
Home insurance is a must for anyone who has a home whether owned or rented. As you know, we don’t have any control over nature or man-made disasters. The best idea is to prepare ourselves by securing our home and belonging via insurance.
If you are living in an earthquake or flood sensitive area you should understand associated risk and buy a suitable property insurance policy. Make sure to cover both structure and content while buying property insurance.
How to File Home Insurance Claim?
The process of filing claim for home insurance varies from insurer to insurer. However, in most of the cases, you need to file FIR and submit the copy to the insurance company. In addition to that, you need to submit various other documents such as repair estimate, invoice of owned articles, investigation report by police etc.
The document requirement given above is indicative and you may be asked to submit other documents at the time of claim settlement.
Do you think buying property insurance policies makes sense?
Please share your views and queries in the comment section given below.
