Prajna Capital |
- Types of bonuses in insurance plans
- How to increase your flat resale value
- Use Mutual Fund SWPs for getting fixed payments
| Types of bonuses in insurance plans Posted: 12 Apr 2013 04:15 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
IN THE most common understanding of the word, bonus is a reward or any extra amount that one may receive over and above the base amount. A similar concept is also applicable to your life insurance policy. In this context, a bonus is an additional sum that gets accrued to the policy on a yearly basis. This amount is paid out by the insurance company upon maturity of the plan, or in case of unfortunate death.
The bonus rate is decided after considering a variety of factors such as the return on the underlying assets, the level of bonuses declared in previous years and other actuarial assumptions.
Bonus is offered on traditional plans that are built in to the plan structure. To avail of the bonus, it is important that the type of plan you have purchased is a `withprofits' one, often known as a participating policy as well.
Simple reversionary bonus (SRB): This type of bonus is calculated on the sum assured only. This bonus is declared annually and is accrued to be paid out at the time of a claim or maturity.
Compound reversionary bonus (CRB): CRB is calculated as a percentage of the sum assured and all previously accrued bonuses. The bonus of each year is added to the sum assured and the next year's bonus is calculated on the enhanced amount.
Let's take an example to understand which type of bonus is beneficial for you.
As seen from the table above, the CRB to be accrued at the end of the 10th year is much higher, compared with the SRB of the same year.
Terminal bonus: The terminal bonus, also known as a persistency bonus, is a bonus paid to indicate an overall performance of a participating policy. The terminal bonus is paid at the time of maturity or death of the life assured.
Interim bonus: Interim bonus is payable for those policies that mature or result in a death claim in between two bonus declaration dates. While the policy has already accrued the bonus declared at the end of the last financial year, there may be a short period in between the bonus declaration date and the maturity/claim date for which the policy has not received bonus. In such instances, bonus is added on a pro-rata basis using the interim bonus rates declared by the company. An interim bonus ensures that policyholders who claim benefits in midst of a year will receive credit for keeping the policy in force for that part of the year.
Cash bonus: The insurance company may decide to give the bonus in cash, that is, bonus accruing in a year will be paid to the policyholder at the end of the year.
Check bonus rates: While choosing your traditional plan, make sure to check the bonus rates offered by them over the years.
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 in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
| How to increase your flat resale value Posted: 12 Apr 2013 01:12 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Get an agent
First, know the current rate in your area. You may need a good real estate agent to help sell your flat. However, it isn't a question of selling alone; one has to ensure it is sold quickly and the rate is better than the prevailing one. Therefore, hire a professional agent with good contacts.
Also, informing the maids and guards in your premises could prove helpful. Agents usually charge one to two per cent of the transaction value as commission. This, however, is negotiable.
A compact kitchen
It is best to remodel the kitchen and the bathrooms. Most women judge a house based on how compact and useful the kitchen looks. If it isn't spacious, ensure you have dedicated space for daily- use electronics items such as a microwave- oven, a mixer- grinder and a washing machine. To give it a modern look, one could consider furniture fixtures for these. Modular kitchens are becoming popular, as these make the kitchen look bigger; all unwanted items can be stashed away in stylish drawers. You can get these custom- made for anything upwards of ₹ 30,000.
Basic wood- work and kitchen fixtures could fetch you 5- 15 per cent more than the actual resale rate in your area.
Fix problems
Don't leave repair work for the new buyer. This would leave a bad impression, which might result in lower resale value. Plumbing and lighting problems are common and people often avoid resolving these.
As a buyer would spend a huge sum on the house, he/ she wouldn't want unnecessary overhead expenses. Basic changes in electrical wiring and fixing taps and fittings could cost you ₹ 20,000- 50,000.
Upgrade interiors
On an average, people spend ₹ 100- 700 a square foot on beautifying their house, including on interiors and upgrades.
A spacious living room and a compact kitchen improve the image of a house. Get rid of unwanted or broken furniture, as these occupy space and make the house look smaller than it is. One might also consider painting at least those parts of the house that look shabby and are probably putting off buyers.
For a one bedroom hall kitchen flat, basic paint work would cost ₹ 20,000- 30,000.
Ready documents
If the house was bought on a loan, ensure your loan papers are in good condition, as potential buyers would need to take a look at these. Produce all loan- related papers and provide their photocopies. Obtain a no- objection certificate from the society, as this would indicate the house is ready for sale and the seller has no dues towards the society.
Good documentation takes away stress, making a customer more confident about buying a house.
Keep it clean
Keeping the place clean is the first step towards keeping negativity out. Therefore, even if you aren't staying in the house, ensure it is clean. A clean house, one that has natural light, has a positive impact on the buyer.
Small changes in the house, coupled with good maintenance and hygiene, could definitely attract potential buyers willing to give a premium.
Customize, but don't overdo it
Those who have extra space such as balconies have an edge, as balconies and store rooms act as add- ons. If you don't have a great view from the house, try enhancing the look of your balcony with plants and flower beds, as these provide a natural and soothing effect. If you have a dry balcony, convert this into a small storage room by separating it with a sliding door. The extra room would be a great selling point.
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 in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
| Use Mutual Fund SWPs for getting fixed payments Posted: 11 Apr 2013 07:37 PM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Investors time withdrawals optimally to save on tax
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 in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
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