| Met Life Monthly Income Plan Posted: 22 May 2012 04:46 AM PDT Invest Mutual Funds Online Download Mutual Fund Application Forms
Product Details
Met Life's Monthly Income Plan is a scheme that guarantees payment of a monthly income to the policyholder for a period of 15 years after the end of the premium paying term. In the event of the death of the policyholder, the regular monthly income shall accrue to the nominee. Investors can choose a policy term of 20 or 25 years. The corresponding premium paying term for the same is 5 and 10 years, respectively.
Additional Features
The scheme pays an additional 25% of the sum assured to the nominee in the event of the death of the policyholder during the policy term. The additional sum assured is paid along with the payment of regular monthly incomes until the maturity of the policy.
Policy At A Glance
Assuming the age of a healthy male policyholder to be 55 years and the policy term to be 20 years, the premium payable during the limited premium paying term of 5 years and the benefits that will accrue to the policyholder at various quanta of monthly income are illustrated herewith…
Met Life Monthly Income Plan is structured in a manner so as to provide the amount of the sum assured to the policyholder in installments, as a regular monthly income, during the policy term itself, rather than return the same as a lumpsum on maturity. The policy thus makes sense for those nearing their retirement age, as it will ensure a regular stream of income then.
However, as far as the returns are concerned, for the policy taken at 55 years of age, the absolute gains from this plan over a period of 20 years are less than 9%. While the returns are relatively higher at lower age groups, say, 18% if the policy is taken at 30 years of age, the same fail to match even the returns that one can gain by investing in bank term deposits during this tenure.
Invest in this plan only for the sake of the convenience of regular income. Those seeking higher returns may give this one a skip.
-------------------------------------------- Invest Mutual Funds Online Transact Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds - Largecap Funds:
- DSP BlackRock Top 100 Fund
- ICICI Prudential Focused Blue Chip Fund
- Birla Sun Life Front Line Equity Fund
- Large and Midcap Funds
- ICICI Prudential Dynamic Plan
- HDFC Top 200 Fund
- UTI Dividend Yield Fund
- Mid and SmallCap Funds
- Reliance Equity Opportunities Fund
- DSP BlackRock Small & Midcap Fund
- Sundaram Select Midcap
- IDFC Premier Equity Fund
- Small and MicroCap Funds
- DSP BlackRock MicroCap Fund
- Sector Funds
- Reliance Banking Fund
- Reliance Banking Fund
- Gold Mutual Funds
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
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| Budget 2012 - Insurance policy gets tax benefits Posted: 22 May 2012 04:16 AM PDT Invest Mutual Funds Online Download Mutual Fund Application Forms When this year's budget laid down new rules for life insurance, it was presumed that mis-selling would lose its sting. Far from it, mis-selling has now become more dangerous for your finances. Till 31 March, if someone was missold an unsuitable life insurance policy, the most he would have lost was the liquidity and the opportunity to invest in a more lucrative avenue. But at least he got the tax benefits—tax deduction of the premium under Sec 80C and tax-free income on maturity under Sec 10(10D).
Now, if a buyer is not careful, he may end up buying a policy that won't offer any tax benefits. Even the money received by his nominee in case of death will be taxable if the policy does not cover the buyer for 10 times the annual premium. Individual agents as well as aggregator sites are happily selling insurance policies that are not eligible for tax benefits. Till last week, a prominent insurance portal was hawking Jeevan Vriddhi, a single premium plan from LIC that covers the buyer for five times the premium. Posing as a buyer, ET Wealth called up the portal and was given the assurance that the policy will offer the tax benefits under Section 80C and Section 10(10D).
Insurance agents also have their hands in the till. They are bombarding buyers with attractive benefit illustrations without educating them on the post-budget tax implications. An agent of a private insurance company approached us with an endowment insurance policy that offered a cover of seven times the premium. It is by itself a good plan because it offers the option of a whole life cover as well as term cover and accidental death riders But the five-year option that he was trying to sell is not eligible for any tax benefits and he was oblivious of the fact. When this was pointed out to a senior official, he mumbled that the company will soon be conducting training sessions on the changes in the rules.
The budget has very clearly stated that policies issued after 1 April must meet the 10 times criteria to claim the tax benefits. "The Sec 80C tax de duction is not as important for insurance buyers as the Sec 10(10D) tax exemption," says V. Srinivasan, chief financial officer, Bharti AXA Life Insurance. For a buyer who is not aware of the 10 times norm, there may be a rude shock waiting when the policy matures or when his nominee gets the insured amount after his death.
To ensure that companies don't design products to circumvent the rules, the budget has clarified that the cover shall not include bonuses and other payments made by the company. Only the basic cover will be taken into account The budget has also mentioned that the cover should remain at least 10 times throughout the tenure of the policy. This means that plans in which the cover comes down from the second year onwards will also not make the cut.
If you are planning to invest in a life insurance policy make sure it complies with the new eligibility norms for tax benefits. The base cover offered by the policy should be at least 10 times the annual premium. For instance, if the premium is 12,000 a year, then the cover should be at least 1.2 lakh.
Two weeks back, Finance Minister Pranab Mukherjee had asked the Insurance Regulatory and Development Authority to take strict action against companies that are mis-selling insurance. The truth is, companies don't mis sell—their agents and advisers do. The problem is that companies don't actively dis courage the mis-selling and er rant agents usually get away with a mild rap on the knuckles. Insurers will have to take stricter action against mis-selling. If they do not take cor rective measures now, in a few years Irda will be inundated with mis-selling complaints from taxpayers who have been denied tax deduction and ex emption on their investments in life insurance.
What to check before you buy
• The cover should be at least 10 times the annual premium of the policy.
• The life cover should not fall below the 10 times level even in subsequent years.
• The sum assured should only be the basic cover and should not include bonuses and other payments.
--------------------------------------------- Invest Mutual Funds Online Transact Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds - Largecap Funds:
- DSP BlackRock Top 100 Fund
- ICICI Prudential Focused Blue Chip Fund
- Birla Sun Life Front Line Equity Fund
- Large and Midcap Funds
- ICICI Prudential Dynamic Plan
- HDFC Top 200 Fund
- UTI Dividend Yield Fund
- Mid and SmallCap Funds
- Reliance Equity Opportunities Fund
- DSP BlackRock Small & Midcap Fund
- Sundaram Select Midcap
- IDFC Premier Equity Fund
- Small and MicroCap Funds
- DSP BlackRock MicroCap Fund
- Sector Funds
- Reliance Banking Fund
- Reliance Banking Fund
- Gold Mutual Funds
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
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| GOLD DEPOSIT SCHEME FROM STATE BANK OF INDIA Posted: 22 May 2012 02:24 AM PDT Invest Mutual Funds Online Download Mutual Fund Application Forms Buy Gold Mutual Funds GOLD DEPOSIT SCHEME FROM STATE BANK OF INDIA Any Indians who have 500 gms of Gold in their hands can make money from the Gold in India. An investor can invest maximum of any quantity of Gold under this scheme. Not many in India, are aware of this scheme run by SBI. It is nice way to get money from the idle Gold in your custody, which will otherwise be kept in the locker. But the scheme has some controls and checks. It is like Fixed deposit in Gold. One of the advantage of Gold Deposit scheme from SBI is its tax concessions and safety in the transactions. You can avail Gold Deposit scheme from SBI for a period of 3, 4, 5 years. Gold in the form of Gold coins, Gold Bars, Gold jewelery etc.. all in scrap form is accepted by the SBI under the scheme of Gold Deposit Scheme. When the Investor transfers the Gold in Scrap form to the Bank, they will give a provisional certificate and after that, the Bank will send the Gold to Bullion branch at Mumbai and then to India Govt. Mint where your Gold will be melted, assayed and minted and the certificate for fineness and quantity will be sent to the customer within 90 days of the receipt of Gold at the branch. This is the Gold Deposit Certificate from the SBI You can avail 75 % of the total value of Gold as loan under this scheme. When you want to your investment back after the said years of investing in Gold Deposit Scheme, the bank will give you the investment back either as Gold or as in Rupee terms. Interest rate applicable under this scheme is as follows: | 3 year deposit | 0.75% per annum | | 4 year deposit | 1.00 % per annum | | 5 year deposit | 1.00 % per annum | Another important advantage of Gold Deposit Scheme is its exemptions from Wealth tax, Income tax, Capital Gains tax for the investors. An investor under this scheme has no need to bother about theft of Gold. The charges like insurance charges, locker charges which are otherwise present with Physical gold is not at all present in case of Gold Deposit Scheme run by SBI. The are the advantages of enrolling into Gold Deposit Scheme run by SBI. -------------------------------------------- Invest Mutual Funds Online Transact Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds - Largecap Funds Invest Online
- DSP BlackRock Top 100 Fund
- ICICI Prudential Focused Blue Chip Fund
- Birla Sun Life Front Line Equity Fund
- Large and Midcap Funds Invest Online
- ICICI Prudential Dynamic Plan
- HDFC Top 200 Fund
- UTI Dividend Yield Fund
- Mid and SmallCap Funds Invest Online
- Reliance Equity Opportunities Fund
- DSP BlackRock Small & Midcap Fund
- Sundaram Select Midcap
- IDFC Premier Equity Fund
- Small and MicroCap Funds Invest Online
- DSP BlackRock MicroCap Fund
- Sector Funds Invest Online
- Reliance Banking Fund
- Reliance Banking Fund
- Gold Mutual Funds Invest Online
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
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| Sundaram Equity Multiplier Fund Posted: 22 May 2012 12:07 AM PDT Invest Mutual Funds Online Download Mutual Fund Application Forms Sundaram Equity Multiplier Fund Multi-cap funds provide investors a benefit of investing across market capitalisations - be it large caps, mid caps or small caps. Their investment mandate does not restrict them to invest in only a specific market cap segment, which thus provides them an opportunity to create wealth by delivering alpha returns. Moreover, they are not confined to one particular style of investing, which allows them to follow a value, growth or blend style of investing. While undertaking their stock picking activity too they can follow a bottom-up as well as a top-down approach of investing across capitalisations.
Sundaram Equity Multiplier Fund (SEMF) is one such open-ended equity oriented multi-cap fund from the stable of Sundram Mutual Fund, which follows a blend style of investing. SEMF is mandated to invest in equities and equity-related instruments across capitalisation, along with debt and money market instruments. Launched in February 2007, the fund has been in existence for a little over 4 ½ years now.
The fund's primary investment objective is "to seek capital appreciation by investing in equity & equity related instruments." The fund is mandated to invest 65% - 100% of its total assets in equity and equity-related securities (across capitalizations) - including investment in derivatives, and the rest (upto 35%) in debt and money market instruments to manage its liquidity requirements".
For individually picking stocks, the fund follows a combination of both value and growth style of investing (commonly known as blend style) and aims to own a compact portfolio of not more than 40 stocks. However the key factors to its investment strategy are: - Identifying attractive investment opportunities and take concentrated exposure
- Investing across all sectors in the economy
- Investing across market-cap category
- Selecting stocks with an investment horizon of 3 to 5 years
- Taking active cash calls (even upto 35%) if the market conditions warrants such stance
Over the past one year, SEMF's exposure to the large cap segment has been rather petite (15% - 27%), but it has gone rather aggressive in the mid and small cap domain by taking exposure in the range of 64% - 75%. However, this dominant exposure towards the mid and small cap space has not been able to fuel returns across time frames. In fact during the downturn of the Indian equity markets, the fund has shown a tendency to plunge violently, thus eroding its investors' wealth.
In order to manage the liquidity requirements and be defensive, SEMF in the past one year has held upto 19% in cash and cash equivalents. Equity Portfolio SEMF's portfolio largely constitutes of 'A' and 'B' group stocks. It latest portfolio (as on September 30, 2011) comprise of 23 stocks, wherein the 'A' group ones constitute 65% of the portfolio and the remainder (30%) is held in the 'B' group ones. While positioning its top-10 portfolio too SEMF holds a major (70%) portion in the 'A' group ones thus preferring to be defensive.
It is noteworthy that SEMF has held its portfolio quite consistently without indulging in rampant portfolio churning (as revealed by its portfolio turnover ratio of 0.40 times). But its mid and small cap bias portfolio has failed to generate superior returns for investors.
Being benchmarked to the S&P CNX 500 index, SEMF's latest portfolio (i.e. as on September 30, 2011) constitutes of 32 stocks, where the top-10 stocks account for 59.3% of the portfolio while the top-5 sectors account for 55.6% of its portfolio. How SEMF has fared vis-Ã -vis its peers?
The above table reveals that on the return front, SEMF's performance vis-Ã -vis its peers has been disappointing. Over a 3-Yr time frame, the fund has delivered a return of mere 16.1% CAGR - being the lowest in the peer set above and even underperforming its benchmark index.
On the volatility front, SEMF has exposed its investors to low risk (Standard Deviation of 7.92%), but again the risk-adjusted returns clocked (as revealed by the Sharpe Ratio of 0.12) aren't very appealing and rather lower than those generated by its benchmark.
Fund Manager Profile | Name of the Fund Manager | Mr. Satish Ramanathan | | Total Work Experience | Over 15 years | | Managing the fund since | Sep-07 | | Qualifications | IIT, MBA, CFA | As seen above Sundaram Equity Multiplier Fund's performance is nothing to vie for, as it is lowest in the peer set above and even underperformed its benchmark over a 3-Yr time frame. Moreover, while the fund has held its portfolio consistently (without indulging in much portfolio churning), the dominant exposure towards the mid and small cap domain makes it a risky investment proposition. A noteworthy point is, in the past the fund has shown a tendency to plunge violently during the downturn of the Indian equity markets. We believe it would be prudent not to invest in Sundaram Equity Multiplier Fund at least for now.
Sundaram, as a fund hosue, has some of the best performing equity oriented schemes in its portfolio. However, SEMF is the best example for investors to understand that why one should not invest blindly in a fund which is being offered by a fund house of high repute as even the most sought after fund houses can falter. Rigours analysis and continuous monitoring can help investors avoid investment blunders. -------------------------------------------- Invest Mutual Funds Online Transact Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds - Largecap Funds:
- DSP BlackRock Top 100 Fund
- ICICI Prudential Focused Blue Chip Fund
- Birla Sun Life Front Line Equity Fund
- Large and Midcap Funds
- ICICI Prudential Dynamic Plan
- HDFC Top 200 Fund
- UTI Dividend Yield Fund
- Mid and SmallCap Funds
- Reliance Equity Opportunities Fund
- DSP BlackRock Small & Midcap Fund
- Sundaram Select Midcap
- IDFC Premier Equity Fund
- Small and MicroCap Funds
- DSP BlackRock MicroCap Fund
- Sector Funds
- Reliance Banking Fund
- Reliance Banking Fund
- Gold Mutual Funds
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
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| Buy Insurance Posted: 21 May 2012 10:50 PM PDT Invest Mutual Funds Online Download Mutual Fund Application Forms Buy Gold Mutual Funds
Needless to say, there are a large number of them out there —victims of mis-selling of insurance products by unscrupulous agents or officials at distributor banks. The Insurance Regulatory and Development Authority (Irda), on its part, has brought in several regulations to curb the menace of mis-selling.
The insurance watchdog has come up with a draft standard proposal form for life insurance policies. This is in addition to the proposed guidelines on need-based selling released in January this year. The form, if enforced in the current format from September 1, will require the agents to list out various personal and professional details of the insurance-seekers' life before recommending them a suitable life insurance policy.
The latest move comes as a welcome relief for policy holders since the form would try to capture and relay to the insurance company the exact need and position of the prospective policyholder and thus reduce to certain extent mis-selling that was rampant till sometime ago. The form provides for a need-based assessment of the individual in terms of: reason for seeking insurance, monthly inflows and outflows, ability to save and the reason for choosing the product.
However, you don't have to pass on the entire responsibilities to Irda and insurance companies. Since it is your money and precious time that would be wasted if there is a problem with the insurance product, you can keep a few pointers in mind to ensure that you don't fall prey to the outlandish sales pitches.
Always remember that life insurance is always bought to replace your income and secure your dependents financially in your absence. Therefore, no matter what your agent or bank may say, focus on protection rather than investment.
This apart, you need to take into account your risk appetite, which also happens to be a key parameter to be considered by agents as per the new proposal form while recommending a policy.
Life Stage
If your career has just taken off and you do not have dependents or an education loan, you may not need life insurance at all. In such a case, a health insurance should suffice. Or you can add a personal accident policy. You may look at increasing this cover or buying investment-cum-insurance policies, which insurance advisors will typically suggest then, as you get married and plan a family.
However, don't forget to evaluate other investment options, like mutual funds, before buying such plans. Senior citizens looking at investing their retirement funds could consider staying away from life insurance altogether and look for safer avenues like senior citizens' savings scheme, fixed deposits or well-performing debt mutual funds.
Income And Expenditure
The new standard proposal form also moots detailing the insurance-seeker's current as well as projected income and expenditure – over a period of up to 30 years. You can roughly estimate your future expenses to help you make the right purchase. Include your living expenses, in addition to the present value of education, health and travel expenses. While estimating future expenses, you need to incorporate living expenses as well as the cost of any aspirational goals for your children or other imperative goals.
Assets And Liabilities
Instead of simply giving in to agents' persuasion to buy a high-value policy, compute the exact amount of life cover you need. The requirement for a person's insurance cover is dependent on the wealth available for the dependants in case of the life assured's demise visà -vis the present value of future expenses of the family.
To compute this figure, you need to subtract the value of your liabilities from that of assets, except your residence since it cannot generate income. To this figure, add the present value of the expected income of your spouse (if earning) till retirement to obtain the present worth of the kitty available for your dependants. The difference between the present value of future expenses (as computed earlier) and the available corpus will represent your insurance requirement.
This calculation will provide a more accurate picture than the thumb rule that prescribes a life cover of 100 times the monthly income.
Plan Retirement Carefully
Some life insurance products – traditional as well as unit-linked pension plans – are aggressively sold as ideal retirement-planning tools. These are a strict 'no-no' for senior citizens as they need immediate access to regular income. Others should assess non-insurance products like equity mutual funds and public provident fund, too, before taking a call. Charges, returns, taxability and exit barriers should be the main determinants.
Our chief apprehension about pension plans is that they are not tax-efficient, as the annuities are taxable. Besides, most traditional pension products offer returns in the region of 5-6%. That is why we are not gung-ho about pension products from life insurers. --------------------------------------------- Invest Mutual Funds Online Transact Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds - Largecap Funds:
- DSP BlackRock Top 100 Fund
- ICICI Prudential Focused Blue Chip Fund
- Birla Sun Life Front Line Equity Fund
- Large and Midcap Funds
- ICICI Prudential Dynamic Plan
- HDFC Top 200 Fund
- UTI Dividend Yield Fund
- Mid and SmallCap Funds
- Reliance Equity Opportunities Fund
- DSP BlackRock Small & Midcap Fund
- Sundaram Select Midcap
- IDFC Premier Equity Fund
- Small and MicroCap Funds
- DSP BlackRock MicroCap Fund
- Sector Funds
- Reliance Banking Fund
- Reliance Banking Fund
- Gold Mutual Funds
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
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| BOI AXA Equity Fund Posted: 21 May 2012 10:01 PM PDT Invest Mutual Funds Online Download Mutual Fund Application Forms Multi-cap funds provide investors a benefit of investing across market capitalisations - be it large caps, mid caps or small caps. Their investment mandate does not restrict them to invest in only a specific market cap segment, which thus provides them an opportunity to create wealth by delivering alpha returns. Moreover, they are not confined to one particular style of investing, which allows them to follow a value, growth or blend style of investing. While undertaking their stock picking activity too they can follow a bottom-up as well as a top-down approach for investing across capitalisations. Hence given that, the fund managers' of multi-cap funds very often actively engage in portfolio churning (to take exposure to the opportunities in respective market segment(s)) with an objective of creating wealth.
Bharti AXA Equity Fund (BAEF) is one such open-ended multi-cap equity oriented fund from the stable of Bharti AXA Mutual Fund, which follows a blend style of investing. BAEF is mandated to invest in equities and equity-related instruments across capitalisation, along with debt and money market instruments. Launched in October 2008, the fund has been in existence for a little over 3 years now.
The fund's primary investment objective is "to generate income and long-term capital appreciation through a diversified portfolio of predominantly equity and equity-related securities including equity derivatives, across all market capitalizations. The Scheme is in the nature of diversified multi-cap fund. The Scheme is not providing any assured or guaranteed returns. Further, there can be no assurance that the investment objective of the scheme will be realized."
The fund is mandated to invest 65% - 100% of its total assets in equity and equity-related securities (across capitalizations) - including investment in derivatives upto 50% of net assets of the portfolio, and the rest (upto 35%) in debt and money market instruments to manage its liquidity requirements.
While undertaking its stock picking activity, BAEF follows top-down approach to shortlist stocks for the portfolio construction. Under the top down process BAEF aims to look at the global and Indian economy and the domestic policy environment along with stock valuations. This would thus result in identification of themes which have a potential to outperform. The final stock selection process would also include the bottom-up approach wherein stocks from the short listed themes would be picked up based on valuations. Equity Portfolio BAEF believes in having companies with sustainable business models, along with those which have the potential for capital appreciation. However it imbibes in it the flexibility to pursue opportunities across the entire market capitalisation spectrum, from smaller companies to well-established large-cap companies, without having any bias in favour of sectoral allocations, or market capitalisation. However, as per the latest disclosed portfolio as on October 31, 2011, the fund has allocated majority of its corpus to large cap stocks which form 89.1% of its portfolio. Mid and small cap stocks account for 7% of the portfolio while the debt and cash component is 3.9%.
Being benchmarked to the S&P CNX Nifty index, BAEF's latest portfolio (i.e. as on October 31, 2011) constitutes of 41 stocks, where the top-10 stocks account for 55.6% of the portfolio while the top-5 sectors account for 51.1% of its portfolio. However a noteworthy point is BAEF indulges in very aggressive churning (as revealed by its portfolio turnover ratio of 2.1 times) as compared to the other funds in its category. How BAEF has fared vis-Ã -vis its peers? The above table reveals that on the return front, BAEF's performance vis-Ã -vis its peers is disappointing. Over a 3-Yr time frame, the fund has delivered a return of mere 15.8% CAGR being the second lowest in the peer set above and has not even been able to match the performance of its benchmark.
On the volatility front, BAEF has exposed to its investors to the moderate risk (Standard Deviation of 8.29%) and risk adjusted returns clocked by the fund are appalling (as revealed by the Sharpe Ratio of just 0.13 which is lower as compared to its benchmark) . Fund Manager Profile Name of the Fund Manager | Mr. Gaurav Kapur | | Total Work Experience | Over 9 years | | Managing the fund since | Mar-11 | | Qualifications | CFA, CA, MBA | Bharti AXA Equity Fund was launched during the bear phase of the market in spite of which the fund has failed to capitalise on the opportunity and has fared dismally. The average AUM of the scheme for past 12 months has been ` 80.3 crore and the expense ratio is 2.50%. The fund manager has churned the portfolio very aggressively and has mainly focused on short term opportunities thereby missing the initial advantage of buying stocks at cheaper valuation during its early days.
Investing in a mutual fund during a market downtrend will not automatically translate into generating stellar returns. The strategy of taking momentum calls may hurt long term investors. BAEF is an example of how one may miss to capitalise on opportunities despite being investing at attractive valuation. Investing in a fund managed by a fund house which follows systems and processes and has an established track record of performance may enhance your chances of benefiting from your mutual fund investment. -------------------------------------------- Invest Mutual Funds Online Transact Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds - Largecap Funds:
- DSP BlackRock Top 100 Fund
- ICICI Prudential Focused Blue Chip Fund
- Birla Sun Life Front Line Equity Fund
- Large and Midcap Funds
- ICICI Prudential Dynamic Plan
- HDFC Top 200 Fund
- UTI Dividend Yield Fund
- Mid and SmallCap Funds
- Reliance Equity Opportunities Fund
- DSP BlackRock Small & Midcap Fund
- Sundaram Select Midcap
- IDFC Premier Equity Fund
- Small and MicroCap Funds
- DSP BlackRock MicroCap Fund
- Sector Funds
- Reliance Banking Fund
- Reliance Banking Fund
- Gold Mutual Funds
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
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| Court rules against claim in case of concealed ailment Posted: 21 May 2012 07:57 PM PDT Invest in Mutual Funds Online Download Mutual Fund Application Forms The NCDRC said there was credible evidence that the policyholder was suffering from tuberculosis and he had concealed it from the company AN INSURED person can be denied insurance claim if he has concealed relevant facts, such as existing ailments, the country's apex consumer panel has ruled. The National Consumer Disputes Redressal Commission (NCDRC) gave the ruling while setting aside a Himachal Pradesh State Consumer Commission judgement which had directed the Life Insurance Corporation of India (LIC) to pay Rs 50,000 as insurance claim to the kin of a policy holder, who died of tuberculosis in 2001. Allowing the appeal by LIC, the NCDRC said there was credible evidence that the policyholder was suffering from tuberculosis and he had concealed it from the company, thus entitling the insurer to deny him the claim. Since, an insurance is a contract entered between the parties in utmost good faith, suppression of any material facts by the insuree, as was done in this case, entitled the insurance company to repudiate the claim as per the terms and conditions of the policy, an NCDRC bench, headed by justice Ashok Bhan said. "We, therefore, find merit in the revision petition and allow the same. The orders of the fora below are set aside," the bench said. The state commission, had directed the LIC to pay the claim amount along with a litigation cost of Rs 1,000 to the petitione. Devi had told the state consumer forum that her husband had taken a policy worth Rs 50,000 in 1999 and its premium was regularly paid by him, but it lapsed in September 2001 because the authorised LIC agent failed to deposit the money to the insurance company. The insuree was declared a defaulter for no fault of his and on his death on November 26, 2001, the claim filed by her was repudiated on flimsy grounds, she had told the state commission. The LIC, in its appeal before NCDRC, had accepted the same but added the policy was revived on November 16, 2001, 10 days before his death, on a representation by the policyholder. While seeking revival of the policy, the policyholder, however, did not disclose to the LIC that he was suffering from tuberculosis and was undergoing treatment for it, the LIC added in its appeal. --------------------------------------------- Invest Mutual Funds Online Transact Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Some of the Top performing Mutual Funds are - HDFC Top 200 Fund
- ICICI Prudential Dynamic Plan
- DSP BlackRock Top 100 Fund
- Birla Sun Life Front Line Equity Fund
- Reliance Equity Opportunities Fund
- IDFC Premier Equity Fund
- SBI Magnum Contra Fund
- Sundaram Select Midcap
- UTI Dividend Yield Fund
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