Prajna Capital |
- SBI launches e-File income tax returns service
- FAQ on Exemption from Filing of Income-Tax Return (A.Y. 2012-13)
- IDFC fixed maturity plan New Fund From IDFC Mutual Fund
- Reliance fixed horizon fund - New Fund from Reliance Mutual Fund
- Change in Fund Manager for some of HSBC Mutual Fund Schemes
- Future Generali micro insurance product
- ICICI Prudential Fixed Maturity Plan Series
- Birla Sun Life Fixed Term Plan - New Fund from Birla Sun Life Mutual Fund
- Bharti Axa Life Insurance - Bharti Axa life young India plan
- Travel should not exhaust your savings balance
- India First Maha Jeevan Plan
- A second house and tax implication
- E-Filing of Income Tax Returns Mandatory for year 2012 – CBDT
- Gold Futures
- Age not a limitation for getting life Insurance covers
- Future Generali new plan - Future Sampoorna Suraksha policy
| SBI launches e-File income tax returns service Posted: 13 Jul 2012 05:10 AM PDT Download Mutual Fund Application Forms Call 0 94 8300 8300 (India)
State Bank of India (SBI) launched a new service that will facilitate filing income tax returns online. This service is available only to the bank's customers at present, at a discounted price. Happy Investing!!
We can help. Call 0 94 8300 8300 (India)
Leave your comment with mail ID and we will answer them OR You can write back to us at prajnacapital [at] gmail [dot] com --------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| FAQ on Exemption from Filing of Income-Tax Return (A.Y. 2012-13) Posted: 13 Jul 2012 04:46 AM PDT Download Mutual Fund Application Forms Call 0 94 8300 8300 (India)
What is the purpose of this notification and who are proposed to be exempted from the requirement of filing of the return?
1. The primary objective of this notification is to exempt those salaried taxpayers from the requirement of filing income-tax returns, who have
(i) total income not exceeding Rs. 5,00,000, and
(ii) the total income consists only of income chargeable to income-tax under the head 'Salaries' and interest income from savings bank account if such interest income does not exceed Rs. 10,000.
Further, such salaried taxpayer would be eligible for exemption from filing a return of income only if tax liability has been discharged by the employer by way of Tax Deducted at Source (TDS) and the deposit of the same to the credit of the Central Government. For this purpose, taxpayer has to intimate his interest income to the employer during the course of the year.
For Example –
(i) If an individual has salary income of Rs. 4,90,000 and interest income from savings bank account not exceeding Rs.10,000 (which has been reported to the employer and tax has been deducted thereon), then the taxpayer would be exempt from the requirement of filing income-tax returns since the total income from both the above sources does not exceed five lakh rupees.
(ii) A taxpayer having salary income of Rs. 4,98,000 and interest income from savings bank account of Rs. 2,000 (which has been reported to the employer and tax has been deducted thereon), would also be eligible under this Scheme.
(iii) A taxpayer having salary income up to Rs. 5,00,000 and nil interest income would also be eligible under this Scheme.
(iv) A taxpayer having salary income of Rs.5,50,000, interest income from savings bank account of Rs. 8,000(which has been reported to the employer and tax has been deducted thereon), and who has claimed deduction of Rs. 70,000 under section 80C (on account of certain payments/investments/savings) would also be eligible under the Scheme.
(v) A taxpayer having salary income of Rs. 6,10,000, interest income from savings bank account of Rs. 10,000 (which has been reported to the employer and tax has been deducted thereon), and who has claimed deduction of Rs. 1,00,000 under section 80C (on account of certain payments/investments/savings), a deduction of Rs. 20,000 under 80CCF (Infrastructure Bonds) and a further deduction of Rs. 15,000 under section 80D (Health Insurance Premium) would also be eligible under the Scheme.
Whether a salaried taxpayer having total income of less than Rs. 5,00,000 and claiming a refund of Rs. 3,000 would be eligible under this Scheme
2. No. The taxpayer has to file a return of income for making a claim of refund.
Is having a valid PAN a precondition for being covered by the notification?
3. Yes. The notification clearly specifies that the individual has to report his PAN to the employer. Hence having a valid PAN is a precondition for falling within the ambit of the notification.
Can an individual who is getting income under the head "salaries" from more than one employer take benefit of the notification?
4. No. A salaried taxpayer who has earned income from more than one employer during the financial year is not covered under this Scheme.
Whether this notification would also cover taxpayers having 'loss from house property', which are often reported by the employees to the employer.
5. No. Under the existing procedure, DDO/employer can give credit to the employee for a claim for loss under the head "income from house property" under section 24 made by the employee. As a result, a salaried employee's total income may reduce to less than Rs. 5,00,000 as loss from the head "income from house property" would have been set-off against salary income. Such a taxpayer is not exempted from filing his return of income as the notification exempts only cases where the total income is under the head "salary" and from savings bank account (income from other sources) not in excess of Rs. 10,000. If the taxpayer has any loss under the head "income from house property", he will not be eligible for exemption from filing a return of income.
Does savings bank account include other banking accounts like fixed deposits or recurring deposits accounts?
6. No. The benefit of the notification is available to taxpayers whose interest income comprises of interest earned on savings bank account ONLY.
Circular No. 8/2010, dated 13-12-2010 which is applicable for Assessment Year 2011-12 stipulates that the Drawing and Disbursing Officer (DDO)/Employer while deducting TDS from salary of an employee cannot allow deduction u/s 80G except donations made to the Prime Minister's Relief Fund, the Chief Minister's Relief Fund or the Lt. Governor's Relief Fund. Whether the notification would cover only these cases?
7. Yes. An individual cannot avail the exemption under this notification if the claim of deduction for donations under section 80G is for donations other than those mentioned in Circular No. 8/2010. A taxpayer has to file a return of income for making a claim in respect of claim of deduction under section 80G for such donations (not specified in Circular No. 8/2010).
Will a salaried individual having agricultural income, which is exempt from tax, be covered within the ambit of the notification?
8. A salaried individual with agricultural income exceeding five thousand rupees shall be out of the ambit of the notification. A return will have to be filed in such a case, even if other conditions of the notification are satisfied as the agricultural income (of more than Rs. 5,000) has to be included, for rate purposes, in the total income. Happy Investing!!
We can help. Call 0 94 8300 8300 (India)
Leave your comment with mail ID and we will answer them OR You can write back to us at prajnacapital [at] gmail [dot] com --------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| IDFC fixed maturity plan New Fund From IDFC Mutual Fund Posted: 13 Jul 2012 04:34 AM PDT Download Mutual Fund Application Forms Call 0 94 8300 8300 (India)
IDFC Mutual Fund has launched a new fund named IDFC fixed maturity plan 366 days series 75. The new issue, which is open for subscription from July 6, will close on July 10. Happy Investing!!
We can help. Call 0 94 8300 8300 (India)
Leave your comment with mail ID and we will answer them OR You can write back to us at prajnacapital [at] gmail [dot] com --------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| Reliance fixed horizon fund - New Fund from Reliance Mutual Fund Posted: 13 Jul 2012 04:33 AM PDT Download Mutual Fund Application Forms Call 0 94 8300 8300 (India)
Reliance Mutual Fund has launched a new fund named as Reliance fixed horizon fund XXII series 15. The new fund offer of the scheme will be close for subscription on July 10. Happy Investing!!
We can help. Call 0 94 8300 8300 (India)
Leave your comment with mail ID and we will answer them OR You can write back to us at prajnacapital [at] gmail [dot] com --------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| Change in Fund Manager for some of HSBC Mutual Fund Schemes Posted: 13 Jul 2012 04:18 AM PDT Download Mutual Fund Application Forms Call 0 94 8300 8300 (India)
However, this facility is only available to Unit holders who have been assigned a folio number by the AMC.
HSBC Mutual Fund has announced that the below mentioned schemes shall be managed by the new fund managers as stated in the table. The effective date will be July 02, 2012.
Amaresh Mishra 's will be Vice President and Assistant Fund Manager. Having done a Post graduate diploma in Business Management and Bachelor of Chemical Engineering, he has over seven years of experience in Equities and Sales.
Mr. Piyush Harlalka's designation shall be Vice President- Fixed Income. Qualified as a C.A., C.S. and holding M.B.A.( Finance degree), he has over six years of experience in Fund management and Research. Happy Investing!!
We can help. Call 0 94 8300 8300 (India)
Leave your comment with mail ID and we will answer them OR You can write back to us at prajnacapital [at] gmail [dot] com --------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| Future Generali micro insurance product Posted: 13 Jul 2012 04:04 AM PDT Download Mutual Fund Application Forms
Private general insurance player Future Generali India on Tuesday launched a micro-insurance product targeted at the rural segment, to provide protection to their business. --------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| ICICI Prudential Fixed Maturity Plan Series Posted: 13 Jul 2012 03:07 AM PDT Download Mutual Fund Application Forms
Launched ICICI Prudential Fixed Maturity Plan Series 63 - 3 Years Plan M with following features:
Tenure: 1098 Days
NFO Period: 18th July to 25th July, 2012
MICR cheques: 25th July, 2012
RTGS and transfer cheques: Till end of business day on 25th July, 2012
Switches: Till cut off time(specified for switch outs in the source scheme) 25th July
Tentative Date of Allotment: 31st July, 2012(Ops to confirm)
Date of Maturity: 3rd Aug, 2015
Option to be launched: Cumulative and Dividend Payout- Default Sub Option - Cumulative
Entry / Exit Load: Nil
Minimum Application Amount: Rs.5000 and in multiples of Re.10 thereafter
Liquidity: To be listed
Benchmark: CRISIL Short Term Bond Fund Index
-------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| Birla Sun Life Fixed Term Plan - New Fund from Birla Sun Life Mutual Fund Posted: 13 Jul 2012 03:00 AM PDT Download Mutual Fund Application Forms
Birla Sun Life Mutual Fund has launched a new fund named as Birla Sun Life fixed term plan — series FS, a close-ended income scheme with the duration of 368 days from the date of allotment.
--------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| Bharti Axa Life Insurance - Bharti Axa life young India plan Posted: 13 Jul 2012 02:12 AM PDT Download Mutual Fund Application Forms
Bharti Axa Life Insurance, the private life insurance joint venture between Bharti Enterprises and Axa, has launched a traditional life insurance plan named Bharti Axa life young India plan. -------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| Travel should not exhaust your savings balance Posted: 12 Jul 2012 10:17 PM PDT Download Mutual Fund Application Forms
India's travel market is the fastest growing one in the Asia-Pacific region and is expected to touch $24 billion mark by 2012-end. Indian travellers have also evolved to become more innovative and experimental in choosing according to their needs, be it couples, family travellers or backpackers (individual / groups). Given Indians' desire to travel and explore, the rising fuel price and additional taxes may play a spoilsport. And this has helped 'budget travel' find a huge following.
This concept has come a long way, from struggle between small budgets and dearth of options, to finding a good experience without draining your savings. Money is not really the constraint with many now, but it's the imagination of what you can do with it and how you can customise your travel. Here's some help on planning a budget trip
Robust research needed:
Specially for international trips, check for options online, reviews and / or ask people who have already travelled to that place. Keep an eye for promotions /discounts being run by travel portals or tourism boards for the destination, as they are a ready source of information on the country along with a great deal and freebies.
Online travel agencies come in handy as they can share some practical tips, authenticated hotel reviews and even visa services. If you are booking 2 months ahead, you can easily bag up to 70 per cent discount on hotel. And save about 40 per cent aggregate, if you book your travel and stay together. Additionally, there are a lot of cities that offer discounts of up to 40 per cent when booking for over 3 activities at a time like sight seeing, hiking, trekking and so on.
It is a good idea to have a mix of air and land transport, depending on the time available. For instance, to reach Europe you could take a flight and then travel by train. Using the public transport or walking is usually the closest way to experience the culture of a place and save on costly taxi fares. Downloading subway, bus and train maps and schedules in advance makes sightseeing easy. Some cities, like London also have 'Hop-On-Hop-Off' (HOHO) buses that take you around most of the spots. To explore a new city, opt for a budget hotel. If in a group, rent vacation homes as they work out to be much cheaper.
Currency woes:
Once you have booked your international trip, monitor exchange rates and get currency at the best rate possible before travel. Also, check for the maximum amount of foreign currency you can carry. In case you exhaust the currency, you must exercise caution as money changing tricks are the easiest way to burn your fingers abroad. Always make sure you have received the notes of the right denomination as they may be carefully folded to deceive you, like a $1 bill made to appear like a $100 one. Also ensure you receive the actual amount you paid, if a deal goes void.
Go local:
The best way to experience the true flavour of a destination is to go local! Use locals to guide you, ask them for their favourite places to eat, good places to shop and if a some place is worth a visit. If you really can't stay away from retail therapy, try to find the flea market and have a $5 budget or alow budget. At times, you can unearth some extraordinary treasures in these places.
While researching, ask experienced people on how to bargain a deal, than just buying at the mentioned price. Find out what is made locally and what the deals are, like pearls in Shanghai, silver in Thailand and carpets in Pakistan. Use costs of these items at home to gauge. If you can get something cheaper back home, no point carrying it from abroad as you will also have to pay duties and portage, further increasing the cost. Check for add-ons like free wi-fi connectivity during your cafe visits.
Last minute trips:
There are chances of getting good deals even if you book closer to the date of travel. It is usually difficult to get attractive last minute deals if you are travelling during peak holidays seasons like summer or Christmas. But there are some portals that offer discounts and deals even in these seasons. Use these tips to get good deals
Booking flight and hotel together translates into higher savings as opposed to buying separately
Business hotels are cheaper on weekends and leisure hotels are cheaper on weekdays
Read up hotel reviews for good services and offerings, preferably from trusted sources
Try and stay close to city centre to save on your travel cost and time
Buy a 'tourist pass' to save on cost of public transportation, attraction tickets and city tours
If travelling with family or group, you can get a discounts (or free tickets) on transport / attraction tickets booked together
Pack bags that you can carry or use backpacks as portage is expensive overseas A good travel experience can be obtained even on shoestring budget, if planned in the right manner and time. Travelling on a budget can limit travel options, but it doesn't have to limit your experience. ----------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms
Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| Posted: 12 Jul 2012 09:21 PM PDT Download Mutual Fund Application Forms
India First Maha Jeevan Plan is an endowment scheme that allows the policyholder to choose a policy term anywhere between 10 and 25 years. A distinguishing factor of this scheme is that it offers three lifecover options to the policyholder — Classic: here the life cover is equal to the amount of sum assured; Silver: life cover is twice the amount of sum assured and Gold: life cover is thrice the amount of sum assured.
--------------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms
Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| A second house and tax implication Posted: 12 Jul 2012 08:20 PM PDT Download Mutual Fund Application Forms
Exemption on interest
-------------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms
Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| E-Filing of Income Tax Returns Mandatory for year 2012 – CBDT Posted: 12 Jul 2012 09:54 AM PDT Download Mutual Fund Application Forms
CBDT Issues Notification Making E-Filing of Income Tax Returns Mandatory
Central Board of Direct Taxes (CBDT) has issued a notification S.O. 626(E) dated 28th March 2012 vide which e-Filing has been made compulsory for Assessment Year 2012-13 onwards for
· an individual or a Hindu undivided family, if his or its total income, or the total income in respect of which he is or it is assessable under the Act during the previous year, exceeds ten lakh rupees; and
· an individual or a Hindu Undivided Family (HUF), being a resident, having assets (including financial interest in any entity) located outside India or signing authority in any account located outside India and required to furnish the return in Form ITR-2 or ITR-3 or ITR-4.
However, digital signature will not be mandatory for these taxpayers and they can also transmit the data in the return electronically and thereafter submit the verification of the return in Form ITR-V.
Filing of returns electronically under digital signatures is already mandatory for any company required to furnish the return in Form ITR-6 or a firm required to furnish the return in Form ITR-5 or an individual or HUF required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable.
The Income Tax Department has received a record number of 1.64 crore income tax returns electronically in the year 2011-12. E-filing is an easy, fast and secure method of filing of income tax return. The electronically filed returns are processed at the Centralized Processing Centre, Bengaluru (Karnatka). The processing for e-filed return is faster and taxpayers get their refunds, if due, quickly. The Department also provides some value added services like tracking of refunds, viewing tax credit status (Form 26AS), e-mail and SMS alerts regarding status of processing and refunds to taxpayers who e-file their returns. ------------------------------------------ Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| Posted: 12 Jul 2012 09:29 AM PDT Download Mutual Fund Application Forms
One can Buy Gold from Futures market like commodity market. Both MCX and NCDEX offer future contracts in Gold. Contract size caries from 8gm, 100gm, 1Kg. You have to enter a contract via an exchange like stock exchanges, commodity exchanges etc. Here you can enter into a contract to buy or sell the Gold futures. No physical storage of gold arises in this case. You can square your positions before the expiry of the contract. Else You can also take the delivery of gold after the expiry of the contract if you really wanted to do so.
When you invest in Gold through Futures market, there is no need to pay all the money needed for the purchase of Gold. All you have to pay is margin money. Margin money comes to around 5 to 10% of the total cost. You can lock at the price of Gold today. If you want to buy the Gold later and the price of Gold has gone above your lock in price, then you are at gaining end. Nowadays the exchanges has drastically reduced the lot size of Gold contract. Taxes-1) Short term capital gain tax applies within 1 year( 2) long term capital gain tax applies after 1 year.
------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| Age not a limitation for getting life Insurance covers Posted: 12 Jul 2012 08:44 AM PDT Download Mutual Fund Application Forms
Age not a limitation for getting life Insurance covers
Some life insurance companies offer protection to policyholders till they attain 75 years Bharti Axa offers the maximum tenure of 50 years to a 25-year-old person by charging Rs 16,517 per year Term insurance is the most basic income protection plan that one can buy from a life insurance company Insurance players are allowing their policyholders to continue their policy for tenure of 30 years
IT MAY come as a pleasant surprise, but, there several some life insurance companies that offer insurance protection that extends for the 70-plus age group. An analysis done by FC Research Bureau on life cover offered by term plans of a random set of nine insurers revealed five insurers that offer insurance protection to policyholders till they attained 75 years of age.
Sample size: The insurance companies that were considered in this analysis are, Aegon Religare Life Insurance, Aviva Life Insurance, Bajaj Allianz Life Insurance, Bharti Axa Life Insurance, Birla Sun Life Insurance, HDFC Standard Life Insurance, ICICI Prudential Life Insurance, Kotak Mahindra Old Mutual Life Insurance and Max New York Life Insurance.
In the analysis, we had considered the maximum tenure that can be chosen by an individual policyholder. Out the sample of nine insurance players, Bharti Axa Life Insurance offers the maximum tenure of 57 years and Aviva Life offers a maximum tenure of 52 years. This also means that an individual of any age can continue his policy till he is 75 years and 70 years old, respectively.
Value proposition of term insurance: Term insurance is the most basic income protection insurance plan that one can buy from a life insurance company. The condition of a term insurance plan is very basic and the insurance company pays the total sum insured under the term plan to the family of insured person in case the insured dies within the policy tenure.
Insurers are allowing their policyholders to continue their policy for a tenure of 30 years. A longer tenure implies that the policyholder will be covered for a longer period. Also, since the premiums are fixed at the time of buying a term insurance policy, the policyholder will be able to continue the same plan till he is 70 or 75 years old by paying a fixed amount.
Analysis revealed that as many as three insurance players out of a sample of nine insurers offer term plans for an annual premium of Rs 6,685 for a 25year-old man with sum insured of 50 lakh. Out of these three, two insurers offer the policy for a tenure of 30 years, while Aviva Life Insurance offers the policy for a tenure of 45 years, which means the individual can continue the policy till he is 70 years.
Bharti Axa Life is offering a maximum tenure of 50 years to a 25-year-old individual by charging an annual premium of Rs 16,517.
Aviva Life on the other hand, which coves the 25year-old policyholder for tenure of 45 years, charges an annual premium of Rs 6,685. Other insurers, such as Bajaj Allianz Life charges an annual premium of Rs 6,423 for a 30-year term policy and ICICI Prudential charges Rs 6,685 for a 30year term policy.
If a policyholder chooses a term plan at an early age, he will not only get lower premium policy, but also, benefit because the chances of him of having any disease is also lower at that age. At an older age, of say 40 or 45 years, chances of having a life style related medical condition like high blood pressure or diabetes go up, which will increase policy premium.
As per the analysis, Bharti Axa Life charges a total premium of around Rs 8,25,000 during 50 years of policy tenure, while Aviva Life charges around Rs 3,00,000 for a 45-year tenure and Bajaj Allianz Life charges around Rs 1,90,000 for a 30-year tenure. Although, there is a significant difference in the premiums being charged, it should be noted that a term plan with a tenure of 50 years would cover the individual when he is 75 year old, at which time, the risk is the highest.
For a 40-year-old man, the maximum tenure that is available is 35 years from Bharti Axa Life. This will ensure that the policy will be renewed till the policyholder attains 75 years of age.
Although, Aegon Religare Life, Birla Sun Life, Max New York Life and ICICI Prudential offer policies for a maximum age of 75 years, but, because these insurers only have a maximum tenure of 30 years, a 40 year old can renew his policy only till he attains 70 years of age.
Premiums charged: The annual premium for Bharti Axa Life's 50 lakh sum insured term plan is Rs 31,686.
While most other insurance companies allow a maximum tenure of 30 years to a 40-year-old individual, HDFC Standard Life offers a tenure of only 25 years with an annual premium of Rs 21,945.
Life cover of term insurance plans is based on annual income, occupation, health condition and age.
For a 50-year-old individual, most insurance companies offer a maximum tenure of 25 years, while Bajaj Allianz Life, Aviva Life and Kotak Mahindra allow a maximum tenure of 20 years. HDFC Standard Life allows a tenure of only 15 years for new policyholders.
IDBI Federal Life Insurance has recently launched a term insurance policy that is available to people who are in the age bracket of 50-85 years. As the age of a person keeps increasing, he finds it difficult to find a term plan in the market. Our term plan is quite unique in that aspect as people who are over 70 years old will also be able to buy term plans.
--------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  | ||
| Future Generali new plan - Future Sampoorna Suraksha policy Posted: 12 Jul 2012 08:00 AM PDT Download Mutual Fund Application Forms Future Generali India on Tuesday launched a micro-insurance product Future Sampoorna Suraksha policy targeted at the rural segment, to provide protection to their business.
--------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  |
| You are subscribed to email updates from Prajna Capital - An Investment Guide To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment