Welcome to Midas Touch

Knowledge Center



Insurance means contract in which an individual or entity receives financial protection or reimbursement against losses. To be specific it is protection to the economic value of assets in case of any uncertain event. Having the right kind of insurance is a critical component of any good financial plan.

How does Insurance work?

Insurance is a pooling arrangement whereby contributions are collected from all members who joins a pool. The amount so collected is utilized to compensate members who suffer losses.

Insurance is broadly classified in to two categories.

1) Life Insurance Life insurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a designated beneficiary a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness.

2) General Insurance General Insurance or non-life insurance comprises of Property Insurance against fire, burglary etc., personal insurance such as Personal Accident, Health Insurance and liability insurance which covers legal liabilities.

i) Personal Accident Insurance Accident insurance provides a cash cover to a policyholder, if suffers injuries as a result of an accident. While insurance helps a policyholder pay off hospital and medical bills in case of accident injuries, it provides cash benefits to family members if the policyholder dies in the accident.

ii) Health Insurance Health insurance will protect dependants against any financial constraints arising on account of a medical emergency. Basically, the client pays a sum of money called the Premium and in turn the insurance firm would commit to pay a predetermined sum of money to meet the customer's claims.

iii) Disability Insurance Disability insurance, is a form of health insurance that insures the beneficiary's earned income against the risk that disability will make working impossible. It includes paid sick leave, short-term disability benefits, and long-term disability benefits.

iv) Liability Insurance Insurance that provides protection from claims arising from injuries or damage due to negligence to other people or property imposed by law or assumed by contract.

v) Property Insurance Property insurance covers specified property, which may be damaged or destroyed by events of perils, such as fire, storm or theft. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance or boiler insurance.

Mutual Fund Unit Link Insurance Policy
MFS follow a product based approach targeting investment needs of the customer. ULIPS follow a solution based approach and target the life stage needs of the customer.
A wide range of things based on various themes / investment philosophy available for the customer. Limited fund option available for investors to choose from.
No Lock-in-period for redemption (except in case of ELSS) Exit load if exit within a year. No surrender value before 3 years. Redemption possible only after 3 policy years. No Exit load, Exit only after 5 years.
No entry load. High upfront charges (Premium Allocation Charges).
Fund Management Charges are High Compared to ULIPS. Fund Management charges are Lower compared to Mutual Funds.
Only investments under ELSS are tax deductible under section 80C. Long term capital gains on equity are tax free but debt is taxable. All premiums paid for ULIP are tax deductible under section 80C. Entire maturity proceeds are tax free under section 10(10D)
Low upfront commissions and trail commission on AUM. High upfront commissions but no trail on AUM.
Zero Entry Load on direct investments Nil premium allocation charges on direct investments have not been introduced in ULIPS.
Fund performance, MFS + Term Plan gives better returns to customer for long term horizon. ULIPS gives better performance for greater than 12 year’s horizon.

Midas Touch, disclaims responsibility and legal liability for any loss, harm, or damage, however caused, resulting from accessing any section of this website. Visitors to this website also consent to waive the right, by entering this website, to seek any form of restitution, damages, or remedy, monetary or otherwise, for any loss, harm, or damage, however caused, resulting from accessing this website. Midas Touch makes every effort to avoid making incorrect misrepresentations or misleading statements, and in no way encourages unconscionable or deceptive conduct in the providing of its services. By entering this website, you expressly accept that Midas Touch will not and cannot be held liable (in all forms of legal liability) for; and that Midas Touch does not warrant, guarantee, or represent (expressly or impliedly), that; information, opinion, commentary, data, or any other content in this website is accurate, valid, complete, legal, and current. The information in this website is obtained and compiled from various sources we believe to be reliable, but Midas Touch does not expressly or by implication guarantee its reliability. Nothing in this website constitutes an offer or solicitation of financial product, advice, recommendation and are not intended to constitute provision of investment, legal, tax, or other professional or financial advice. Such content therefore should not be relied upon for the making of any personal financial and investment decisions. Persons accessing this information are strongly encouraged to obtain appropriate professional advice from registered investment advisors before making any investment or financial decision. By entering, visitors to this website expressly accept that Midas Touch does not warrant, guarantee, or represent (expressly or impliedly) that the website is free from technical malfunction or human error, or that any services obtained through this website are of fitting quality and suitable for any particular purpose, and you expressly accept that Midas Touch will not and cannot be held liable (in all forms of legal liability) for any errors, inaccuracies or omissions (including any third party) and any loss or damages, whether incidental, consequential, or otherwise, resulting from its use or inability to use by any party, or in connection with any error, interruption, delay in operation or incomplete transmission, or line or system failure. Use of hyperlinks to or from other internet sites or resources are the users own risk. The content, accuracy, opinion expressed, and other external links provided at these sites are not investigated, verified, modified, or endorsed by Midas Touch. Midas Touch disclaim any responsibility for the accuracy, contents, availability, or inclusion or omission of information found on sites that link to or from this website. Visitors to this website are solely responsible for making all enquiries and investigation before proceeding with any online or offline access or transaction with any of these third parties. Midas Touch emphasises that all activities conducted by users at or via this website are at their own risk. Midas Touch does not warrant the security of any information users may forward, or be requested to provide, to any third parties. Users are deemed to have irrevocably waived any claims against the Midas Touch for any loss or damage suffered as a result of any access to or interaction with any other websites via this website. In the event that you may wish to access any services through this website, you are advised that any transactions over the Internet carry certain special risks. By agreeing to enter this website, visitors to this website expressly accept that Wealth Man will not and cannot be held liable (in all forms of legal liability) for any transactions that are processed over the internet. Online transactions may be subject to but not limited to, interruption, transmission, blackout, delayed transmission due to Internet traffic, or incorrect data transmission due to the public nature of the Internet. All information contained in this website is general information only. While special care has been taken in preparing the information and materials contained in this website, such information and materials are provided to users on an “as is” basis and carry no warranty or representation of any kind, express or implied. In particular, no warranty or representation is given for information and materials regarding non-infringement, security, accuracy, suitability for a particular purpose, or freedom from computer virus, Trojan horses, worms, software bombs or similar items. Moreover, the information contained in this website may be changed at any time without prior notice. Visitors to this website may print out items of interest for their own personal use only. Copyright notices and other identifying information must be removed from such printouts. The content of this or of any linked website must not be reproduced in any manner for any other purposes. Midas Touch reserves the right to pursue any necessary legal action for any copyright infringement. Midas Touch accepts no liability whatsoever for any loss or damage, or otherwise as stipulated in this legal disclaimer, arising from the use of any section of this website, whether or not such loss or damage is caused by reason of negligence, or otherwise on the part of Midas Touch. The users assume all risks associated with the use of this website including, but not limited to, all terms and conditions mentioned in this legal disclaimer.