Prajna Capital |
- LIC Money Back Plans - New Version Review
- Tata Equity P/E Fund Dividend Trigger Option dividend
- Taurus Dynamic Income Fund Exit Load
| LIC Money Back Plans - New Version Review Posted: 23 Jan 2014 04:39 AM PST Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Leave a missed Call on 94 8300 8300
LIC has announced 3 new LIC money back plans under the new guidelines of IRDA.
The names may sound familiar, but the products have been revamped. I will be doing review of LIC money back plans regular premium (20/25 years).
Money back plans as the name suggest are the plans which pay back some fixed amount after every specified intervals out of the basic sum assured. Being an endowment and participating plans, it will also announce regular bonuses depending on the profitability of corporation. Also being an insurance plan, it offers a risk coverage / death benefit.
As LIC website says – "Money back plans offer an attractive combination of protection, against death throughout the term of the plan, along with periodic payment on survival at specified durations during the term. Thus LIC Money back plans offers 3 benefits:
Death benefit, Survival benefit and Maturity benefit.
Death benefit in these policies are as per the new IRDA guidelins. As per LIC money back plans death benefit is the sum total of "Sum assured on death" along with all kind of bonuses declared. "Sum assured on Death" is defined as higher of 125% of basic sum assured or 10 times of annualized premium. This amount should not be less than 105% of total premiums paid.
Survival benefit: in case of 20 years policy – 20% of basic sum assured will be paid at the regular intervals at the end of each 5th, 10th and 15th Policy year. And in the case of 25 years policy – 15% of basic sum assured will be paid at the regular intervals of end of each 5th, 10th, 15th and 20th policy years.
Maturity benefit: This benefit will be comprised of the balance amount of basic sum assured not paid in previous years ( 40% ) along with the bonus amounts if any.
Bonus amounts will be as per the LIC's profitability and experience.
Insured may also opt for Accidental death and disability benefit rider by paying extra rider premium.
LIC money back plans – Other features
There are some eligibility BASIC conditions in these LIC money back plans
LIC Money back Plans – Should you invest??
The good part in these new plans is that the surrender value factor has been clearly mentioned in the product features. Now one would not have to run pillar to post to get to know his policy surrender/paid up value, and with these transparent features one can easily estimate what one would get on surrender or continuation.
The returns will surely vary after consideration of services tax, age and different rebates (on Mode of premium and sum assured)which LIC is offering along with. The illustrations generated at the time of product pitching or buying will give tentative idea as to what should one expect in particular case. Do ask for illustration from agent and check what IRR will be generated in your case. Tell your agent to calculate IRR for you or mail your illustration to us, we'll do it for you. You may be told by the agent that corporation is making profits and the bonus amounts will improve going forward but looking at the distribution expenses and other costs associated with endowment plans I believe that you will get tentatively the same or less amount as would be mentioned in the illustration.
My view still remains the same. I don't advise to mix investment with insurance. I am sure you don't invest to get the surrender or paid up values and neither you want your investments to generate 3-5% of return in this high inflationary economy. If you have investment horizon of 20-25 years with you there are many different good options available in front of you. For Insurance covers go with pure term cover which is cheapest form of insurance. Keep your investments simple and flexible.
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
Leave a missed Call on 94 8300 8300
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--------------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms ---------------------------------------------
Best Performing Mutual Funds
B. Large and Midcap Funds Invest Online
C. Mid and SmallCap Funds Invest Online
D. Small and MicroCap Funds Invest Online
2. Franklin India Smaller Companies E. Sector Funds Invest Online
F. Tax Saver Mutual Funds Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver
G. Gold Mutual Funds Invest Online
H. International funds Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF |
| Tata Equity P/E Fund Dividend Trigger Option dividend Posted: 23 Jan 2014 02:55 AM PST Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Leave a missed Call on 94 8300 8300
Tata Equity PE Fund Dividend Trigger Option dividend
Tata Mutual Fund has announced 10 January 2014 as the record date for declaration of dividend under the Plan A and Direct Plan under Tata Equity P/E Fund-Plan A (Dividend Trigger Option A-5%). The amount of dividend will be Rs 0.35 per unit under each plan on the face value of Rs 10 per unit.
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 Any Fund Application Forms ---------------------------------------------
Best Performing Mutual Funds
B. Large and Midcap Funds Invest Online
C. Mid and SmallCap Funds Invest Online
D. Small and MicroCap Funds Invest Online
2. Franklin India Smaller Companies E. Sector Funds Invest Online
F. Tax Saver Mutual Funds Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver
G. Gold Mutual Funds Invest Online
H. International funds Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF |
| Taurus Dynamic Income Fund Exit Load Posted: 23 Jan 2014 01:25 AM PST Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Leave a missed Call on 94 8300 8300
Taurus Mutual Fund has announced revision in exit load structure of Taurus Dynamic Income Fund, with effect from 06 January 2014. Accordingly, the revised exit load will be 1% if exited on or before 7 days and nil if exited after 7 days. For switch from the scheme to any other scheme, exit load would be applicable as mentioned.
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 Any Fund Application Forms ---------------------------------------------
Best Performing Mutual Funds
B. Large and Midcap Funds Invest Online
C. Mid and SmallCap Funds Invest Online
D. Small and MicroCap Funds Invest Online
2. Franklin India Smaller Companies E. Sector Funds Invest Online
F. Tax Saver Mutual Funds Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver
G. Gold Mutual Funds Invest Online
H. International funds Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF
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