Archives for

Life Insurance Corporation

LIC Jeevan Sugam – Review

LIC (Life Insurance Corporation) has launched LIC Jeevan Sugam which is a non linked Single Premium Limited Period Plan. This is third plan launch from LIC in last two months. The last two launches were LIC New Jeevan Nidhi Plan [a pension plan] & LIC Flexi Plus Plan [Unit Linked Insurance Plan]. These launches are [...]

Should you Invest in LIC New Jeevan Nidhi Plan?

LIC New Jeevan Nidhi Plan is a conventional with profits pension plan which provides for death cover during the deferment period and offers annuity on survival to the date of vesting. The term vesting has been used extensively in the article. For simplification vesting can be assumed equivalent to maturity of policy. LIC New Jeevan [...]

LIC Flexi Plus Plan – Review

January to March are the months when people rush to make Tax Saving Investments. Insurance companies know this and they launch newer products to get a pie of this. Keeping with these traditions LIC has launched Flexi Plus – a Unit Linked Insurance Plan (ULIP). LIC Flexi Plus – Features: Sum Assured is 10 times [...]

LIC warning against fraud calls from LIC and IRDA

There have been reports of new ways of misselling by posing as LIC employee/ agent or Officers calling from IRDA. We have covered one such instance here. LIC has issued an advertisement drawing attention of policy holders towards this menace of misselling. Here is the advertisement: Popular Searches For This Post: lic fraud calls – fraud [...]

Life Insurance – Death Claim Settlement Ratio – 2011-12

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 2011-12 has [...]

How to check LIC Policy Details online?

Many customers who have LIC Policy want to know How they can view the details of their LIC Policy details online. The process is simple and require a one time registration on LIC Website. Go to http://www.licindia.in/NewUserRegistration.htm Fill in the details – Policy Number, Premium Amount, Date of Birth and Email Id Please ensure password (in [...]

Employee Pension Scheme (EPS) – How good?

If you have looked at your EPF (Employees’ Provident Fund) details you might have wondered about deduction of Rs. 541 per month from your company’s contribution to EPF. Here is the explanation: Every month you need to contribute 12% of your basic salary to your EPF account Your employer also needs to contribute 12% of [...]

LIC Jeevan Vriddhi: New Advertisement

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 [...]

LIC Jeevan Vriddhi: Should you invest?

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, [...]

Single Premium or Yearly Premium for Life Insurance – Which is better?

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 [...]

Life Insurance – Term Plan details

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 [...]

Understanding Benefit Illustration & charges of ULIPs

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 [...]

Comparison of Term Life Insurance Plans Premiums in India

I have compiled a list of Term Insurances Plans offered by various companies. The table below shows premium payable for a healthy 28 year old non-smoker Male for an insurance term of 25 Years. Popular Searches For This Post: lic amulya jeevan plan 190 review – life insurance images – Life Insurance Premium Financing Companies [...]

How much time it takes to settle life insurance claim?

In the last post I wrote about the Claim Settlement rate for Indian life insurance companies. This time I wanted to check how much time Life Insurance companies take to settle a claim! Claim settlement time also becomes an important factor in choosing any life insurance as you don’t want your survivors to wait indefinitely [...]