The Most Beneficial Advisor Here
Tuesday, 19 February 2013
While we love to dream of our second home or starting up our own business, these dreams seem difficult to fulfill due to financial constrains . We will help you realize your dreams by prioritizing your life goals through our specially designed goal prioritization process. With the help of right planning, you can not only meet your life goals without compromising your present lifestyle, you can also keep your family protected against any eventuality which may come in the way of these dreams.
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Below Wealth Accumulation products are unit linked Life Insurance
products where the investment risk is borne by the policy holder.
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Sunday, 13 January 2013
Jeevan Mitra(Triple Cover Endowment Plan)
Jeevan Mitra(Triple Cover Endowment Plan)
This is an Endowment Assurance plan that provides greater financial protection against death throughout the term of plan. It pays the maturity amount on survival to the end of the policy term.
Premiums :
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, throughout the term of the policy or earlier death.
Bonuses : This is a with-profit plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. A Final (Additional) Bonus may also be payable provided a policy has run for certain minimum period.
Endowment Insurance Plans are what traditional insurance plans are all about. It provides an insurance cover to the policy holder during the term of the policy and at the end of the term returns a handsome sum of money back to the policy holder. Endowment plans are for investors who are not looking for very high returns but want guaranteed returns at the end of the policy term. They are good long term investment tools which provide bulk amounts on maturity.
Endowment Plans
work best if taken for 15 to 20 years as the accumulation period is
then substantial which results in a high maturity amount at the end of
the policy term. The maturity amount can be used to fund some large
expenses like child's higher education or marriage or even an amount
which will be useful when you are close to retirement.
Endowment Plans offer Guaranteed Additions and Bonuses
in addition the Sum Assured which get added to the policy holder's
account every year. These benefits along with the Tax Savings make this
life insurance policy a very attractive investment tool.
This is an Endowment Assurance plan that provides greater financial protection against death throughout the term of plan. It pays the maturity amount on survival to the end of the policy term.
Premiums:
You can pay your insurance Premiums yearly, half-yearly, quarterly, monthly or through Salary deductions.
Bonuses:
Jeevan Mitra – Triple Riskcover is a with-profit insurance plan that participates in the profits of the LIC’s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. A Final (Additional) Bonus may also be payable provided a policy has run for certain minimum period.
Death Benefit:
3 times of Sum Assured + Bonus is payable in a lump sum upon the death of the life assured.
Accident Benefit:
4 times of SA + Bonus is given on accidental death provided policy was covered for accidental benefit.
Maturity Benefit:
The Sum Assured plus all bonuses declared up to maturity date is payable in a lump sum on survival to the end of the policy term.
Tax Benefit:
Tax Benefit is available on Premiums u/s 80C
Whereas Maturity/Death Claim u/s 10D
Loan Facility:
Loan is allowed after 3 years
Housing Loan Collateral: Thrice Basic sum assured.
General Conditions and requirements for Jeevan Mitra Triple cover
Min. age at entry: 18 years
Max. age at entry: 50 years
Max. Maturity age: 70 years.
Min. S.A.: Rs. 50,000/-
Max. SA.: Any amount
SA in multiples: Rs. 5,000
Accident benefit per 1000 SA: Re. 1 extra.
Min Term: 15 years.
Max Term: 30 years.
Surrender of Policy: Yes
Revival: Yes
Housing Loan: Yes
Assignment: Yes
Survival Benefits: No
Permanent Disability Benefit: Available
Surrender Value :
Buying a life insurance contract is a long-term commitment. However, surrender value will be available under the plan on earlier termination of the contract.
Surrender:
The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium.
ApolloMunich Health Insurance
Easy Health Insurance Plans are designed in a way to suit your need and fit your pocket. They will not only guard you against the spiraling medical costs but will also guide you on the path of wellness, providing you a double protection of prevention and cover. The Easy Health Insurance Plans are available for Individuals (Easy Health Individual Health Insurance Plan) and Families' (Easy Health Family Health Insurance Plan). These Plans manage you and your families health-related needs right from consultation and hospitalisation to the post-hospitalisation.
These policies are available on a cashless basis in over 4000 network hospitals thus managing your expenses and providing hassle-free transactions. To provide you with Best Health Insurance coverage and to let you decide the right policy that suits your needs, we have made three variants available, which give you a choice and freedom to decide your premium.
The Easy Health Insurance policies are power-packed with unique features like cash credited on daily basis on choosing shared accommodation, daily cash for accompanying an insured child, maternity expenses*, health check-up, spectacles, contact lenses, etc. and out-patient dental treatment**.
*waiting Period of 6 years (Easy Health-Individual
Health Insurance Plan) and 4 years (Easy
Health-Family Health Insurance Plan)
** waiting period of 3 years
** waiting period of 3 years
Let's Uncomplicate With best-in-class benefits
- Wide options Choose from the wide choices of the sum insured starting from Rs 1 lac to 10 lacs and enjoy Best Health Insurance benefits at affordable premium.
- Portability-A customer-friendly policy that ensures that you avail of most of the accrued benefits when you opt for Apollo Munich Health’s Easy Health Insurance Plans. Assuring the availability of best healthcare, they promise wide ranging benefits. It assures a trouble free medical care giving a provision for a secured tomorrow. The reasonable insurance cost resolves the affordability issues for all.
- Pre-Hospitalization and Post-Hospitalization cover Pre-Hospitalization and Post-Hospitalization cover takes care of medical expenses incurred for treatment before and after hospitalization. It gives you relief from the medical expenses incurred before and after the hospitalization, that can sometimes prove to be as costly as the hospitalization expenses. Intimate your insurer about the hospitalization as per the policy guidelines and enjoy benefit of it.
- Cumulative Bonus-The insured receives an increment on the sum insured on account of a claim free year. The policy entitles the insured to a bonus amount on every renewal. In case of no claim the bonus gets accumulated, hence increasing the coverage amount at no extra cost.
- Tax Benefits Get tax benefits for the premium amount under Section 80D of the Income Tax Act.
Let's Uncomplilcate With value-added services
Health Risk Assessment
We offer our customers maximum health benefits with minimum efforts. The globally validated online health risk assessment is provided to all our customers. This helps them to profile their health status, and will also offer personalised wellness recommendations on diet, lifestyle, nutrition, etc.
Cashless Hospitalisation
Our policies, in addition to reimbursement of claims at all hospitals, are valid on a cashless basis in over 4000 hospitals.
All insured members can call the Healthline and quote their unique customer ID (provided with the policy) to reach our experts and avail primary consultation, health-related consultation, individual referrals, health information, nutrition and diet, at no extra cost.
Health Risk Assessment
We offer our customers maximum health benefits with minimum efforts. The globally validated online health risk assessment is provided to all our customers. This helps them to profile their health status, and will also offer personalised wellness recommendations on diet, lifestyle, nutrition, etc.
Cashless Hospitalisation
Our policies, in addition to reimbursement of claims at all hospitals, are valid on a cashless basis in over 4000 hospitals.
All insured members can call the Healthline and quote their unique customer ID (provided with the policy) to reach our experts and avail primary consultation, health-related consultation, individual referrals, health information, nutrition and diet, at no extra cost.
Let's Uncomplicate With wide choices
We offer three plan variants, to help you choose what’s best for your needs. The cover amount ranges from Rs. 1,00,000 to Rs. 10,00,000 according to the product variant you choose.
- Standard Plan
The plan is formulated with an objective to get adjusted in varied budgets. It makes health insurance easily accessible by starting the range of sum insured from Rs. 1 lakh. It facilitates the services like day care procedures and emergency ambulance. Health insurance has been simplified with such affordable health care services. - Exclusive Plan
It offers the basic health coverage along with certain extra and unique features. It takes care of the maternity expenses and provides an additional optional coverage for eight critical or life-threatening illnesses. Under the canopy of a comprehensive health cover it assures quality health services to the insured. - Premium Plan
This plan provides more extensive benefits like access to an e-opinion. The advice from our expert panel of doctors guides you through your illness or medical situation. The feature of health check up makes this plan replete with beneficial services. This variant is the one for those looking for comprehensive coverage and value added services.
Terms of Renewal
- We offer life-long renewal unless the Insured Person or any one acting on behalf of an Insured Person has acted in a dishonest or fraudulent manner or any misrepresentation under or in relation to this policy or the Policy poses a moral hazard.
- Maximum Age –There is no maximum cover ceasing age in this policy. For Additional cover of Critical Illness maximum cover ceasing age in this policy would be 70 yrs.
- Waiting Period - The Waiting Periods mentioned in the policy wording will get reduced by 1 year on every continuous renewal of your Easy Health Insurance Plan.
- Renewal Premium- Renewal premium are subject to change with prior approval from IRDA.
- Sum Insured Enhancement – Sum Insured can be enhanced only at the time of renewal subject to no claim have been lodged/ paid under the policy. If the insured increases the sum insured one grid up, no fresh medicals shall be required. In cases where the sum insured increase is more than one grid up, the case shall be subject to medicals. In case of increase in the Sum Insured waiting period will apply afresh in relation to the amount by which the Sum Insured has been enhanced. However the quantum of increase shall be at the discretion of the company.
Lic Pension Plan New Jeevan Dhara-I
Lic Pension Plan New Jeevan Dhara-I
A pension plan ensures regular income after retirement. There are two phases in any pension planning- accumulation and disbursement. First phase involves investing in different financial instruments. To build a huge corpus amount, one should start as early as possible. A person can start investing just a small amount and then increase the amount as per his financial ability. By starting with low amount for more number of years, a person can accumulate quite a big lump sum amount. If a person invests in pension plan, then at the end of policy term, one-third of the amount can be withdrawn as lump sum while the rest of amount is used to purchase annuity
Types of annuity available with LIC Pension Plan Jeevan Akshay VI are given below:
- Annuity payable for life at a uniform rate.
- Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
- Annuity for life with return of purchase price on death of the annuitant.
- Annuity payable for life increasing at a simple rate of 3% p.a.
- Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
- Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
- Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her life time on death of annuitant. The purchase price will be returned on the death of last survivor.
Product summary:
These are Deferred Annuity plans that allow the policyholder to make provision for regular income after the selected term.
Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deduction, as opted by you, throughout the term of the policy or till earlier death. Alternatively, the premium may be paid in one lump sum (single premium).
Tax Benefits:
Tax relief under Section 80ccc is available on premiums paid under New Jeevan Suraksha I (Table No.147). The premiums paid under New Jeevan Dhara I (Table No.148) qualify for tax relief under Section 88.
Bonuses:
These are with-profit plans and participate in the profits of the Corporation’s annuity / pension business. Policies get a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. Final (Additional) Bonuses may also be payable provided policy has run for a certain minimum period.
Monday, 7 January 2013
Jeevan Shree-I
Jeevan Shree-I
This is an Endowment Assurance plan offering the choice of many convenient premium paying terms. It provides financial protection against death throughout the term of plan with the payment of maturity amount on survival to the end of the policy term.
This is an Endowment Assurance plan offering the choice of many convenient premium paying terms. It provides financial protection against death throughout the term of plan with the payment of maturity amount on survival to the end of the policy term.
Premiums:
Premiums are payable yearly, half-yearly, quarterly or through Salary deductions, as opted by you, throughout the premium paying term or till earlier death. Alternatively premium may be paid in one lump sum (Single premium).
Guaranteed Additions:
The policy provides for the Guaranteed Additions at the rate of Rs. 50/- per thousand Sum Assured for each completed year for first five years of the policy. The Guaranteed Additions are payable along with the Basic Sum Assured at the time of claim.
Bonuses:
The policy participates in the profits of the Corporation’s life insurance business from the 6th year onwards. It will get a share of the profits in the form of bonuses. Simple Reversionary Bonuses will be declared per thousand Basic Sum Assured annually at the end of each financial year. Once declared, they will form part of the guaranteed benefits of the plan.
Premiums are payable yearly, half-yearly, quarterly or through Salary deductions, as opted by you, throughout the premium paying term or till earlier death. Alternatively premium may be paid in one lump sum (Single premium).
Guaranteed Additions:
The policy provides for the Guaranteed Additions at the rate of Rs. 50/- per thousand Sum Assured for each completed year for first five years of the policy. The Guaranteed Additions are payable along with the Basic Sum Assured at the time of claim.
Bonuses:
The policy participates in the profits of the Corporation’s life insurance business from the 6th year onwards. It will get a share of the profits in the form of bonuses. Simple Reversionary Bonuses will be declared per thousand Basic Sum Assured annually at the end of each financial year. Once declared, they will form part of the guaranteed benefits of the plan.
Salient Features
- It requires an annual premium payment for 16 years, with the premium linked to the sum assured and the age of the applicant. LIC insists on a `simple' medical examination for the Jeevan Shree.
- The premium payments stop after 16 years, but the returns, a lumpsum, come at the end of the 25th year.
- Though the premium payment stops after the 16th year, the insurance cover continues till the 25th year.
- The risk cover - amount paid to nominees in case the policyholder fails to survive the policy's duration - increases with time. If, for instance, the risk cover is for Rs 5 lakh at the outset, the size of the cover increases with the passage of time to account for the returns on the investment made by LIC.
- Loan facility available.
- Option for single and limited premium terms.
- Ideal as gift.
- Transfer of policy from one employer to another.
Benefits
- Maturity Benefit: Basics S.A. + vested G.A. @ Rs.50/- per 1000 S.A. (for 1st 5 years) + Reversionary Bonus (6th year onwards).
- Death Benefits:
- During first 5 policy years: Basic S.A. + vested G.A. @ Rs.50/- per 1000 S.A. for each completed year.
- On Death after first 5 years: Basic S.A. + vested G.A. of Rs.50/- per 1000 S.A. per year for the first 5 years + accrued Reversionary Bonuses declared from 6th year onwards.
- Term Assurance Rider Option: Premiums are payable during the PPT & an amount equal to Term Assurance S.A. will be payable on death during the policy term along with Basic S.A. Premium for this option will be payable in addition to the premium under the basic plan. Std./Sub. Std. lives (upto Class III EMR) & Female Lives Category I & II allowed. Pregnant Females, Handicapped Lives & Persons attracting Occupational Extra of more than Rs.4/- per 1000/- S.A. are not allowed.
- Paid-up Value:
- For PPT 10 years & less, atleast 1 full year's premium should have been paid.
- For more than 10 years PPT 2 full year's premiums should have been paid.
- Keyman Insurance: Policy is considered for Keyman employee & if the Keyman leaves the service & joins another employer subject to fulfillment of 3 conditions to transfer the policy from one employer to another:
- The old employer requests for the transfer and is prepared to execute an assignment in favour of the New Employer
- The Life Assured employee is the Keyman of the new Employer
- The policy is in full force
- Accident Benefit: Will be available for the full term of the policy or till the policy Anniversary immediately following the Life Assured attaining 70 years of age. Maximum or Rs.25,00,000/-.
Premium Paying Term (PPT):
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Policy
Term
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Premium
Paying Term (In Years)
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5
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1,2 or 3
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10
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1,2,3,4 or 6
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15
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1,2,3,4,6,8 or 10
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20
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1,2,3,4,6,8,10 or 12
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25
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1,2,3,4,6,8,10,12 or 16
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The Premium Paying term varies with
the Policy term or Insurance period.
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Restrictions
- Minium age at entry: 18 years completed
- Maximum age at entry: 65 years
- Maximum maturity age: 75 years
- Minimum Term: 5 years
- Maximum Term: 25 years
- Minium Sum Assured: Rs.5,00,000/-
- Maximum Sum Assured: No Limit
- Sum Assured should be in multiples of Rs.1,00,000/-
- Accident Benefit per 1000/- S.A.: Allowed (With extra Premium)
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