| Apollo Munich Individual Personal Accident - Standard Plan Posted: 15 Nov 2013 05:32 AM PST Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India) Apollo Munich Individual Personal Accident- Standard | | | | Objective | | This is a basic accidental policy paying a specified sum insured upon accidental death or accidental disablement. It pays accidental medical expenses and for education of insured's child, in case insured member falls victim to accidental death or acquires permanent total disability. | | | | Suited for | | Every individual must be covered under a personal accident policy to get financial respite from rising number of accidental eventualities. Since sum insured under this policy is fixed at 10 times the annual salary of proposer, those who fulfill the eligibility conditions and earn up to Rs 5 lakh per annum may buy this policy. | | | | What does it do? | | A basic accidental cover which claims to immune against financial losses incurred due to accidental death or disablement, whether it is partial or total. Apart from these basic benefits, it covers ambulance cost to transfer insured person from site of accident to hospital or from hospital to home, family transportation to hospital and transportation of mortal remains. It allows a certain lump sum amount to support the education in case of permanent total disability or unfortunate demise of insured person. Education funding is allowed for maximum two children. It covers accidental medical expenses as well. Each benefit is capped at a specific percentage of sum insured. | | | | Pros | | Policyholder enjoys a cumulative bonus of 5 per cent for every claim-free year up to maximum of 50 per cent of basic sum insured.
Family discount of 10 per cent is applicable if two or more members are covered. | | | | Cons | | There is a ceiling on maximum amount under each benefit.
It does not provide any tax relief. | | | | Our View | | This policy aims to mitigate risk of loss of income in case of accidental death or accidental disability of the insured person, hence it is recommended. It should be noted that premiums payable are a function of nature of occupation that insured person is involved in. Though the premiums are higher for occupations carrying high risk, it is advised to furnish the true nature of occupation to avoid trouble at the time of filing claim, just in case. | | | | Eligibility | | | | | | | Entry Age (years) | | | | | | | Minimum | | 5; 3 months for children | | | | | Maximum | | 69 | | | | | Maximum Policy Renewal Age (years) | | 70 | | | | | Coverage Type | | Individual | | | | | Policy Term (years) | | 1 | | | | | Sum Insured (Rs) | | | | | | | Maximum | | 50 lakh | | | | | Minimum | | 1 lakh | | | | | Tax Benefit | | Not Available | | | | | Discount | | Family discount of 10% is applicable if 2 or more family members included | | | | | No Claim Bonus | | 5% increase in Sum Insured would be applicable for every claim free years till it reaches to a maximum of 50% of initial Sum Insured. a cumulative bonus has been applied and a claim is made, then in the
subsequent Policy Year the cumulative bonus will automatically reduce to zero. | | | | | Policy Termination | | Insurance company may terminate the policy by giving a written notice of 30 days. Policyholder is allowed to terminate the policy at anytime by giving a written notice. In case no claim has been made under the policy, percentage of premium will be refunded on prorata basis | | | | | Customer Service | | | | | | | Address | | Apollo Munich Health Insurance Company Limited
Corporate Office: 10th floor, Tower B, Building No. 10, DLF Cyber City, Phase -II, Gurgaon, Haryana-122002
Registered Office: Apollo Hospital Complex, Jubilee Hills, Hyderabad - 500033 | | | | | Mail to | | customerservice@apollomunichinsurance.com | | | | | Call to | | 1800-102-0333 | | | | | Network Hospitals | | Http://www.apollomunichinsurance.com/our-hospital-network.aspx | | | | | | | | | | | | | |
| | | | Scope of Cover | | | | | Accidental Death (AD) | | Covered; pays Sum Insured | | | | | Permanent Total Disablement [PTD] | | Predetremined percentage of Sum insured depending on nature of permanent total disablement | | | | | Permanent Partial Disablement [PPD] | | Predetremined percentage of Sum insured depending on nature of permanent partial disablement | | | | | Temporary Total Disablement | | weekly benefit upto maximum of 100 weeks. 1% of the Sum Insured for each week; maximum Rs 5 lakh | | | | | Emergency Ambulance | | Up to Rs 2,000 | | | | | Family Transportation to hospital (atleast 200 kms away) where insured is admitted | | 1% of AD Sum Insured; max Rs. 50000 . Restricted to one immediate member | | | | | Transportation of Mortal Remains | | 2% of AD Sum Insured; max Rs. 10,000 | | | | | Education Fund | | allowed upto 2 children. 10% of Accidental Death Sum Insured upto a maximum of Rs 20000 | | | | | Accident Medical Expenses | | covered upto lowest of the actual expenses, 40% of admitted claim, 10% of AD Sum Insured or Rs. 50,000 | | | |
| | | | Exclusions and Waiting period | | | | | Special Exclusions for Accidental death, disablement and medical expenses | | Bacterial infections (except pyogenic infection which occurs through an Accidental cut or wound).Hernia | | | | | General Exclusions | | Pre existing condition or any complication arising from the same.Any psychiatric or mental disorders.AIDS or any other related conditions. | | | |
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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| Reliance Special Credit Guardian Plan Posted: 15 Nov 2013 04:27 AM PST Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India) Reliance Special Credit Guardian Plan | | | | Objective | | This is a loan protection cover with an aim to protect family members from the burden of loan repayment, in case the insured member dies. The policy also refunds premiums if the policyholder survives to maturity. | | | | | What does it do? | | This is a decreasing term cover where sum assured reduces in line with the outstanding loan. This term insurance plan covers outstanding loans of the policyholder including housing loan, personal loan, outstanding loan on credit cards etc. It helps repay loans in case of financial fallout due to death of the policyholder.
If insured person outlives the policy term, the insurance company refunds entire basic premium paid.
If premiums are not paid after first 3 years of taking the policy, it will not lapse but acquire a paid-up value. One can surrender the policy only after running the policy for 3 years.
This plan can increase coverage if one chooses the available riders along with the basic plan for some extra premium. These riders can be taken at the time of purchase or added at any policy anniversary. | | | | | Pros | | Women can avail discount on premium and pay premium equal to 3 years younger male policyholder.
Policy can be surrendered in case of an emergency.
The policy refunds basic premiums if the policyholder survives to maturity.
Riders can be taken at the time of purchase or added at any policy anniversary.
Sum assured under critical illness rider can be increased or decreased by the policyholder.
Premiums qualify for taxation benefits. | | | | | Cons | | It does not consider increase in interest rates under floating rate loans. | | | | | Suited for | | Anyone with a loan overhead can take this policy. | | | | | Our View | | The policy commands high premium for paying accumulated premium on survival of the policyholder. Buy a simple loan protection cover if you need one. | | | | | Eligibility | | | | | | | Entry Age (years) | | | | | | | Minimum | | 21 | | | | | Maximum | | 60 | | | | | Maximum Maturity Age (years) | | 65 | | | | | Policy Term (years) | | | | | | | Minimum | | 10 for Regular Premium policies and 5 for Single Premium policies | | | | | Maximum | | 30 for Regular premium policies and 15 for Single Premium policies | | | | | Sum Assured (Rs) | | | | | | | Minimum | | 250000 | | | | | Maximum | | No limit | | | | | Minimum Premium (Rs) | | | | | | | Yearly | | 1000 | | | | | Single | | 3000 | | | | | Premium Payment Frequency | | Single, Yearly, Half-yearly, Quarterly and Monthly (via ECS) | | | | | Premium Payment Term | | Single, Limited, equal to policy term | | | | | Policy Cover | | Policy Cover keeps decreasing in line with decrease in outstanding loan | | | | | 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 of premium due date for Yearly/ Half-yearly/Quarterly premium payment and 15 days from premium due date in case of Monthly premium payment. If a due premium is not received within the grace period, your policy will lapse and the life insurance cover will be terminated. | | | | | Tax Benefits | | Section 80C, 10(10D) of the Income Tax Act, 1961 would apply. Premiums paid for Reliance Critical Illness Rider may qualify for deduction under Section 80D of the Income Tax Act, 1961. | | | | | 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 | | | | | Maturity Value | | The policy refunds basic premiums paid on survival at maturity | | | | | Surrender Value | | Surrender is allowed provided premiums for first three policy years were paid in full and after three years have elapsed from date of commencement of the policy.
Regular Premium Payment: 30%* {basic premiums(excluding ridre premiums or extra premiums apid if any) - first years's premium}.
Single Premium Payment: 30%* Single Premium (excluding rider premiums or extra premiums paid if any) | | | | | Customer Service | | | | | | | Address | | Reliance Life Insurance Company Limited
Registered office: H Block, 1st floor, Dhirubhai Ambani Knowledge City, Navi Mumbai, Maharashtra 400710, India | | | | | Mail To | | rlife.customerservice@relianceada.com | | | | | Call On | | 1800 300 08181 & 3033 8181 | | | | | SMS | | INSURE' to 55454 | | | | | Additions to the Plan | | | | | | | Available Rider(s) | | Reliance Accidental Death & Total & Permanent Disablement Rider: covers Death due to an accident, Accidental dismemberment (loss of limbs and/or eye(s), Permanent total disability due to an accident. The Disablement benefit equal to the basic Sum Assured paid in ten equal annual installments.
Inbuilt Waiver of Premium: In case of total and permanent disability, this inbuilt rider waives off all future premiums under the basic policy and riders upto a limit of Rs 40000 p.a.
Reliance Critical Illness Rider: This rider covers 10 critical illnesses namely Cancer, Coronary Artery Bypass Surgery, Heart Attack, Stroke, Kidney Failure, Aorta Surgery, Coma, Heart Valve Replacement, Major Organ Transplant and Paralysis. There is a waiting period of 6 months and survival period of 30 days to claim benefit under this rider. Policyholder has a choice to increase or decrease Sum Assured under this rider subject to underwriting. Once decreased, increase in Sum Assured will not be allowed. | | | | | Rider Conditions | | | | | | | Entry Age (years) | | | | | | | Minimum | | 18 | | | | | Maximum | | 59 | | | | | Maximum Maturity Age (years) | | 64 | | | | | Rider Term (years) | | | | | | | Minimum | | Critical Illness Benefit Rider: 5 | | | | | Sum Assured (Rs) | | | | | | | Minimum | | Accidental Death & Total & Permanent Disablement: 25000 Critical Illness Rider: 100000 | | | | | Maximum | | Lower of Base plan insurance or 50 lakh | | | |
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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| ICICI Prudential Life Guard - Level Term Assurance with Return of Premium Posted: 15 Nov 2013 01:28 AM PST Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India) ICICI Pru Life Guard- Level Term Assurance with Return of Premium | | | | Objective | | This is a return-of-premium policy with an advantage of additional insurance cover for five years after policy term, without paying any extra premium. | | | | | What does it do? | | This is the second variant of Life Guard policy. It pays sum assured to the nominee on death of the insured person. All premiums paid till maturity are repaid on survival. This plan can prolong the insurance protection for 5 years after maturity of the policy at 50 per cent of original sum assured. The additional coverage is available without paying any premium. However, rider benefits of the original policy will not be extended. Policies under this plan can be surrendered for a guaranteed value, provided three year premiums have been paid regularly. Waiver of premium is a valuable rider. | | | | | Pros | | The policy returns premiums at maturity and offers riders for extra protection.
The policy can be surrendered in case of need.
Premiums qualify for taxation benefits. | | | | | Cons | | Not suitable for anyone requiring a life cover higher than Rs 10 lakh. | | | | | Suited for | | Those looking for a term plan with a low life insurance cover requirement of upto Rs 10 lakh may consider this plan. A lapsed policy can be revived within 5 years from the date of lapse, a considerably long period as compared to other policies. | | | | | Our View | | The maximum sum assured is capped at Rs 10 lakh, which is a very low coverage. This variant of Life Guard policy is suitable for those who would expect something as maturity amount on surviving the policy term.
However, the premiums are high as compared to simple term plans. Such policies factor the cost of paying maturity benefits within the premium. Optional riders, if attached, widen the scope of coverage. A plain term insurance policy is most cost-effective insurance available till date. | | | | | Eligibility | | | | | | | Entry Age (years) | | | | | | | Minimum | | 18 | | | | | Maximum | | 55 | | | | | Maximum Maturity Age (years) | | 65 | | | | | Policy Term (years) | | | | | | | Minimum | | 5 | | | | | Maximum | | 30 | | | | | Sum Assured (Rs) | | | | | | | Minimum | | Subject to minimum premium limit | | | | | Maximum | | 1000000 | | | | | Minimum Premium (Rs) | | 2400 | | | | | Premium Payment Frequency | | Yearly, Half-yearly, Quarterly and Monthly | | | | | Premium Payment Term | | Equal to policy term | | | | | 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. Insurance company will deduct the expenses incurred on processing of your policy and return the remaining premiums. | | | | | Grace Period | | You are allowed to pay premiums within 30 days from the due date for yearly, half yearly and quarterly mode; 15 days for monthly mode. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cove | | | | | Lapsed Policy Reinstatement | | 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. | | | | | Tax Benefits | | Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply. Premiums paid for Dread Disease Rider may qualify for deduction under Section 80D of the Income Tax Act, 1961. | | | | | 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 | | | | | Customer Service | | | | | | | Address | | ICICI Pru Life Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025. Tel.: 40391600 | | | | | Mail To | | lifeline@iciciprulife.com | | | | | Call On | | 18602667766 between 9 am to 9 pm; Monday to Saturday (except National holidays) | | | | | SMS | | SRV to 56767 | | | | | Additions to the Plan | | | | | | | Available Rider(s) | | Accidental Death and Disability Rider (ADDB): covers death due to an accident, disability due to an accident.
Waiver of Premium: In case of total and permanent disability within 180 days of accident, the company pays remaining premiums and the policy remains in force till maturity. | | | | | Rider Conditions | | | | | | | Entry Age (years) | | | | | | | Minimum | | 18 | | | | | Maximum | | 55 | | | | | Maximum Maturity Age (years) | | 75 | | | | | Rider Term (years) | | | | | | | Minimum | | 10 | | | | | Maximum | | 30 | | | | | Sum Assured (Rs) | | | | | | | Minimum | | 50000 | | | | | Maximum | | 1000000 | | | | | Rider Premium (Rs) | | Accidental Death and Disability Rider costs Rs 0.90 per Rs 1000 Sum Assured irrespective of age of the policyholder.
Cost of Waiver of Premium Rider is proportinate to the age of policyholder. For instance, it costs Rs 1.25 per thousand of Sum Assured for a 30 year old healthy male and Rs 1.35 per Rs 1000 Sum Assured for a 40 year old for policy term of 10 year whereas. | | | |
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
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