Mutual Funds (MF) are one of the best investment vehicles to create wealth in the long run. And Systematic Investment Plan (SIP) the best way to invest in them. What if the Mutual Fund companies start offering free insurance with MF SIPs in their schemes! According to me it’s an excellent opportunity to start doing [...]
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Below is the chart showing lowest online term life insurance premium for a particular age for different insurance amount. The tenure of insurance is 60-(age at time of taking insurance). So for 30 Years aged person the insurance tenure is 30 Years, for 40 years age its 20 years and for 50 years age its [...]
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With start of new financial year 2012-13, a lot would change from today in personal finance space. Here is the list. Good News: Increased Interest on Small Savings Scheme like PPF, NSC, etc: The government has increased interest rates on post office deposits like PPF, NSC, Fixed Deposit, Recurring Deposit, and Senior citizen Scheme in [...]
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Claim Settlement Ratio is probably the most important factor while buying insurance. This becomes even more critical for Life Insurance as you would like your dependents to run pillar to post to claim your sum assured in case of unfortunate death. The recently published Insurance Regulatory And Development Authority - IRDA Annual report 2010-11 has the [...]
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LIC had launched single premium life insurance plan - LIC Jeevan Vriddhi, which has death benefit of 5 times the single premium. With the new rules on Life Insurance in Budget 2012, the minimum death benefit should be at least 10 times the annual premium paid. This rule is however effective from April 1, 2012. So [...]
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Life Insurance in India is more to do with Tax saving and Investment rather than actual “Insurance”. Budget 2012 has taken cognizance of this fact and has proposed to increase the sum assured limit as a multiple of the premium in order to enjoy tax benefits. Under section 80C of the Income-tax Act, premiums paid [...]
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There are advantages of being a woman – both financially and other wise. But this post focuses on the advantages the women have in the financial world. Income Tax Benefit: Under the current tax regime, women pay less tax than men. For the present financial year (2011 – 12), the tax exemption limit for women [...]
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On March 1, 2012 Life Insurance Corporation (LIC) has launched a new Single premium life insurance plan – LIC Jeevan Vriddhi. Lets look at the product in detail and then decide if you should invest in LIC Jeevan Vriddhi LIC Jeevan Vriddhi: Benefits Maturity Benefit: On maturity, the Guaranteed Maturity Sum Assured along with Loyalty Addition, [...]
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Deciding on Life insurance is complicated process and once you have decided on the insurance amount, insurance tenure and which company and plan to go for, the last decision to be made is weather you should opt for single premium or Yearly premium payment? I favour Yearly premium payment over single premium policies because of [...]
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Bajaj Allianz Guaranteed Maturity Insurance Plan: It is a single-premium unit-linked insurance plan (Ulip) that promises a maturity corpus of at least twice the premium paid. It also provides an insurance cover during the term. The minimum premium under this plan is Rs 5,000, which is also the cost of one guaranteed maturity certificate. Under [...]
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Go Digital! is the buzzword today and most of companies are aggressively going online. Today you can buy books to insurance, everything on net. Thankfully Indian regulators are not behind. Weather you are investor or consumer, you can register your grievances and complaints online and rest would be taken care by regulators. Here’s a brief on [...]
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At the time when life insurance companies are caught on the wrong foot with their ULIPs and stock market fluctuations, the focus has come back to the traditional Endowment & Money Back plans. Money Back Plan – In this kind of plan the insurance company, on survival, returns wholly or partially the premium paid by [...]
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Life Insurance is the first step of Financial Planning. And in Life insurance – Term Plan is the best bet. Term plan is simple – if the insured person dies his nominee get the insured amount. If he doesn’t die there is no return. This makes it the cheapest form of life insurance. But again [...]
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It’s not a trick question or a marketing gimmick! And if you have been a regular reader of this blog you know that nothing in this world is FREE! But then there are exceptions – always! Imagine this – You are 28 year old healthy non-smoking male and need an insurance of Rs 49 Lakhs [...]
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