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 […]
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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This post has some common rules and regulations of personal income tax in India. This would help you to further understand the intricacies of taxes. Income Tax Slabs/Rates for Financial Year 2011 – 12 1. Women assesses Upto Rs. 1,90,000 – Nil From Rs. 1,90,001 – Rs. 5,00,000 – 10% From Rs. 5,00,001 – Rs. 8,00,000 – 20% Above Rs. 8,00,000 – 30%
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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
Insurance in itself is a complex product and ULIPs (Unit Linked Insurance Plans) make them even more complex. All the ULIPs are different with different features, different clauses and bonuses & expenses structure which at times is even difficult for an expert to comprehend. Infact I remember seeing ULIP benefit illustration for the first time
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