| Edelweiss Tokio Life Income Replacement Posted: 29 Oct 2013 02:09 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India) Edelweiss Tokio Life Income Replacement | Objective | This term policy aims to provide regular income in case of unfortunate demise of the breadwinner of the family. | | What does it do? | This term plan aims to replace regular income in case of unfortunate demise of the breadwinner of the family. Death benefit is paid as monthly installments for the remaining policy term or minimum of 5 years. At the time of purchasing the policy, the applicant has to decide the monthly income that would be required by the family. The benefit amount increases at 5 per cent every year to take care of rising cost of living. Apart from regular and single premium payment options, the policy also offers a limited premium payment option which allows to pay premiums for a limited term (for example 5 years) and enjoy the insurance cover throughout the policy term (for example 20 years). Surrender is allowed only under single pay and limited pay options and the surrender value will be calculated on the basis of specified formula. | | Pros | The policy gives premium discount to high sum assured policies, non-tobacco users and females.
The policy can be surrendered in case of an emergency.
It provides coverage for higher age of up to 70 years.
Premiums paid towards this policy qualify for taxation benefits under Section 80C. | | Cons | The policy doesn't offer any riders and half-yearly, quarterly or monthly premium payment modes are also missing. | | Suited for | Monthly death benefit payout makes it more apt for a family who may not be able to manage a lump sum amount. | | Our View | Loss of life cannot be indemnified but insurance protection can help a family tide over financial difficulty in case the earning member dies.
The premium payment mode can be useful to those unsure of regular income inflow after a few years, or those who fear faltering in paying regular premiums.
The premium payment tenure can also be customized to suit one's wallet. This is a traditional term plan where one needs an agent to assist in buying the policy.
The policyholder must have a separate health insurance cover as there are no riders in this policy. | | Eligibility | | | Entry Age (years) | | | Minimum | 18 | | Maximum | 60 | | Maximum Maturity Age (years) | 70 | | Policy Term (years) | | | Minimum | 10 | | Maximum | 30 | | Sum Assured (Rs) | | | Minimum | Monthly benefit x 12 x Policy Term; minimum monthly benefit is Rs 15000 | | Maximum | No limit | | Premium Payment Frequency | Single or Annual | | Premium Payment Term | Single, 5-year, 10-year, 15-year and term of the plan | | Policy Cover | Cover remains fixed for the tenure of the policy | | Other Features | | | Free Look Cancellation | In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered | | Grace Period | You are allowed to pay premiums within 30 days from the due date. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover will be terminated | | Lapsed Policy Reinstatement | You can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums and undergoing underwriting requirements, if any | | Tax Benefits | Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply | | Exclusions | In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. | 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 ) - ICICI Prudential Tax Plan Invest Online
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| IDBI Federal Homesurance Plan Posted: 29 Oct 2013 12:49 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India) IDBI Federal Homesurance | Objective | This policy aims to protect your family from the liability of a home loan in the event of your death. | | What does it do? | The sum assured under this policy decreases as the outstanding home loan is repaid.
This policy offers loan protection along with terminal illness benefit, i.e. if the insured person is diagnosed with a terminal illness and not expected to survive more than 6 months, the benefit will be paid equivalent to sum assured available after six months, subject to a maximum of Rs 25 lakh.
The policy will expire at the end of first remaining policy year where the sum assured as per policy schedule is greater than or equal to the terminal illness benefit.
Single premium policyholders are allowed to surrender the policy.
This policy also covers increase in home loan amount due to increase in interest rates. On the contrary if the outstanding loan reduces with falling interest rates, the insurance company will pay the higher of outstanding home loan as per policy schedule to the nominee.
If home loan term includes construction period as well, the policy in case of any eventuality during that period, pays full sanctioned loan amount which can be used to repay the partly disbursed home loan and the builder. However, construction period coverage is limited to 3 years and loan term has to be more than 15 years. Policy term will be loan term plus construction term.
It also offers additional riders to widen the coverage. Waiver of premium rider makes sense as all future premiums will be borne by the insurance company in case of total and permanent disability of the life insured. Major diseases benefit becomes must if you have a family history of any of the listed illnesses. | | Pros | This decreasing home loan protection cover saves policyholders from paying for the protection that is actually not required.
The plan provides riders for additional protection. Major diseases rider is a comprehensive one covering 17 major diseases.
Single premium policyholders have an option to surrender their policies.
It covers an increase in home loan amount on account of rising interest rates.
Premiusm qualify for taxation benefits. | | Suited for | Anyone who is willing to take home loan may go for this plan. | | Our View | This is a comprehensive home loan protection plan and suitable for those who want extra protection along with a home loan cover. Terminal illness benefit makes this home loan policy distinct in its category. | | Eligibility | | | Entry Age (years) | | | Minimum | 18 | | Maximum | 60 | | Maximum Maturity Age (years) | 70 | | Policy Term (years) | | | Minimum | 5 | | Maximum | 25 | | Sum Assured (Rs) | | | Minimum | 100000 | | Maximum | 20000000 | | Premium Payment Frequency | Single, Yearly, Half-yearly, Quarterly, Monthly | | Premium Payment Term | Single, Regular (2/3rd of loan term) | | Premium Factor (multiply with annual premium) | Semi Annual: 0.51 ; Quarterly: 0.26; Monthly: 0.09 | | Policy Cover | Cover decreases in line with decrease in outstanding loan amount | | Other Features | | | Free Look Cancellation | In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered. | | Grace Period | You are allowed to pay premiums within 30 days from the due date. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover will be terminated. | | Lapsed Policy Reinstatement | You can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums with interest and undergoing underwriting requirements, if any. | | Tax Benefits | Section 80C, 10(10D) of the Income Tax Act, 1961 would apply. Premium paid is eligible for tax deduction as per current income tax act. | | Exclusions | In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. | | Surrender Value | Allowed under single premium policy. Surrender Value is not guaranteed. Details will be given in policy document. | | Customer Service | | | Address | IDBI Federal Life Insurance Co Ltd
First Floor, Trade view,
Oasis Complex, Kamala City,
P. B. Marg, Lower Parel (West),
Mumbai - 400 013, Maharashtra. | | Mail To | support@idbifederal.com | | Call On | 1800 102 5005 for non MTNL subscribers and 1800 22 1120 for MTNL subscribers | | SMS | Home' to 5757515 | | Additions to the Plan | | | Available Rider(s) | Accidental Death and Disablement Benefit: covers Death due to an accident, Disablement caused due to an accident.
Accidental Death Benefit: Death due to an accident
Hospital Cash benefit: Admission to hospital for treatment of any injury or illness.
Daily cash allowance for each day of hospitalisation from the third day and onwards. Normal benefit is paid for stay other than ICU.
Recovery allowance in case of hospitalisation for more than 5 days.
Additional allowance if I.C.U treatment is required.
Major Diseases Benefit: It covers 17 critical illnesses namely Heart Attack, Coronary Artery Bypass Surgery, Heart Valve Replacement Surgery, Surgery of disease of the Aorta, Cancer, Stroke, Kidney failure, Major organ transplant, Paralysis, coma, Multiple Sclerosis, Alzheimer's Disease( before age 61), Parkinson's Disease (before age 61). benign Brain Tumour, Major Head Trauma, Major Burns and Primary Pulmonary Arterial Hypertension.
Waiver of Premium: future premiums will be borne by the insurance company in case of total and permanent disability | | Rider Conditions | | | Entry Age (years) | | | Minimum | 18 | | Maximum | Accidental Death, Accidental Death and Disability Benefit & Waiver of premium Benefit: 60; Hospitalisation Cash Benefit, Major Disease Benefit: 55 | | Maximum Maturity Age (years) | 65 | | Rider Term (years) | | | Minimum | 5 | | Maximum | Hospitalisation Cash benefit: 5 years, subject to maximum of base policy term. For others: Base policy term | | Sum Assured (Rs) | | | Minimum | Accidental Death, Accidental Death and Disability Benefit, Major Diseases Benefit: Rs 50000 | | Maximum | Accidental Death, Accidental Death and Disability Benefit: Rs 50 lakh or Basic Sum Assured whichever is lower. Major Diseases Benefit: Rs 20 lakh or Basic Sum Assured whichever is lower | | Rider Premium (Rs) | Rider premiums vary for each policyholder. For instance, if a 30-year old opts for the Accidental Death rider for Rs 5 lakh sum assured over a 10 year tenure with premium payment term of 6 years; the annual rider premium works to Rs 500, Rs 750 in case of Accidental Death and Disablement Benefit, Rs 240 for Hospital Cash Benefit for 500 capsules and Rs 1255 in case of Major Disease Benefit. | 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 ) - ICICI Prudential Tax Plan Invest Online
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- SBI Magnum Tax Gain Scheme 1993 Invest Online
- Sundaram Tax Saver Invest Online
- Edelweiss ELSS Invest Online
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- 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
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- Reliance Banking Fund
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| ING Term Life Plus Posted: 28 Oct 2013 11:27 PM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India) ING Term Life Plus | | | | Objective | | This term insurance policy offers dual benefit of life cover and return of premiums on survival. | | | | | What does it do? | | This policy pays sum assured in case of unfortunate demise of the life assured and refunds premium on survival.
On survival, the premiums are returned in two parts:
a) Mid term benefit: If insured person survives half the policy tenure, the insurance company returns 40 per cent of regular premium or 20 per cent of single and limited premium, excluding any extra premiums paid for riders.
b) Maturity benefit: If policyholder outlives the policy term, the insurance company refunds the remaining premium excluding any extra premiums paid for riders.
The policy also offers accidental rider for an added coverage. Policyholder is free to surrender the policy after specific number of policy years that depend on the premium payment mode.
If policyholder does not pay premiums after 3 years under regular premium mode or after 2 policy years under limited premium mode policy, the policy will not lapse but acquire a paid-up value.
This paid-up value is paid to the nominee on death of the policyholder or to the policyholder if he survives to maturity. | | | | | Pros | | Policyholder is allowed to surrender the policy.
This plan refunds premiums paid to the policyholder.
The policy acquires a paid up value on non-payment of premiums.
It gives premium discount to female applicants.
It offers riders to enhance coverage.
Premiums qualify for taxation benefits. | | | | | Cons | | Return of premium option comes at a higher cost. | | | | | Suited for | | This policy is suitable for those who insist on returns from an insurance policy, even though at higher cost. | | | | | Our View | | Return of premiums option attracts buyers but such policies usually cost much higher than a plain term policy.
A positive feature is that the policy does not lapse if policyholder is not in a state of paying premiums. It continues as a paid up policy, with a reduced value, which assures his family to some extent. | | | | | Eligibility | | | | | | | Entry Age (years) | | | | | | | Minimum | | 18 | | | | | Maximum | | 65 | | | | | Maximum Maturity Age (years) | | 75 | | | | | Policy Term (years) | | | | | | | Minimum | | 10 | | | | | Maximum | | 30 | | | | | Sum Assured (Rs) | | | | | | | Minimum | | 500000 | | | | | Maximum | | No limit | | | | | Premium Payment Frequency | | Single, Yearly and Half-yearly. Quarterly and Monthly | | | | | Premium Payment Term | | Single, Limited premium for 3 or 5 years and regular equal to policy tenure | | | | | Premium Factor (multiply with annual premium) | | NA | | | | | Policy Cover | | Cover remains fixed for the tenure of the policy | | | | | Other Features | | | | | | | Free Look Cancellation | | In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered. | | | | | Grace Period | | You are allowed to pay premiums within 15 days from the due date. If a due premium is not received within the grace period of 15 days, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated. | | | | | Lapsed Policy Reinstatement | | You can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums and undergoing underwriting requirements, if any. | | | | | Tax Benefits | | Section 80C and Section 10 (10D) of the Income Tax Act, 1961 would apply | | | | | Exclusions | | In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. Further, if the Life Assured under the policy, whether medically sane or insane, commits suicide, within one year of exercising the option to increase the Sum Assured, then the amount of increased Sum Assured will not be considered in the calculation of the Death Benefit | | | | | Surrender Value | | Policyholder is free to surrender the policy after certain number of policy years have expired. Surrender values under different Premium Payment terms is as under:
Regular premium: Can surrender after three years premium have been paid in full with surrender value of 40% of the premiums paid.
Limited premium 3-year pay: Can surrender after two years premium have been paid in full with surrender value of 60% of the premiums paid.
Limited premium 5-year pay: Can surrender after two years premium have been paid in full with surrender value of 50% of the premiums paid.
Single premium: Can surrender after completion of two policy years with surrender value of 70% of the premiums paid. | | | | | Customer Service | | | | | | | Address | | ING Life Insurance Company, No 690, 1st floor, Gold Hill Square, Begur Hobli, Hosur Road. Bangalore – 560068 | | | |
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 ) - ICICI Prudential Tax Plan Invest Online
- HDFC TaxSaver Invest Online
- DSP BlackRock Tax Saver Fund Invest Online
- Reliance Tax Saver (ELSS) Fund Invest Online
- Birla Sun Life Tax Relief '96 Invest Online
- IDFC Tax Advantage (ELSS) Fund Invest Online
- SBI Magnum Tax Gain Scheme 1993 Invest Online
- Sundaram Tax Saver Invest Online
- Edelweiss ELSS Invest Online
------------------ 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
- Tax Saver MutualFunds Invest Online
- ICICI Prudential Tax Plan
- HDFC Taxsaver
- DSP BlackRock Tax Saver Fund
- Reliance Tax Saver (ELSS) Fund
- Gold Mutual Funds Invest Online
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
 |
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