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 [...]
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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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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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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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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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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.
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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 [...]
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