Friday, January 3, 2014

Prajna Capital

Prajna Capital

Aegon Religare iTerm Plan

Posted: 03 Jan 2014 04:00 AM PST

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

Aegon Religare iTerm Plan

 

Objective

This is a pure term plan which can only be bought online. The policy also has low premium rates, as compared to other term plans of the insurer.
The convenience of buying this policy online, does away with the hassles of going through intermediaries and one can buy the plan at convenience.

What does it do?

The policyholder's nominees receive death benefit on death of the policyholder.
The terminal illness rider, if opted, will pay 25 per cent of the sum assured (with Rs 1 crore limit) on diagnosis of a listed terminal illness. The balance will be paid to dependents on death. A policy with terminal illness rider will stop accepting future premiums on diagnosis and pay the illness benefit.
The policy has the scope to enhance protection with three optional riders- accident death benefit, waiver of premium benefit on critical illnesses such as cancer, heart attack, bypass surgery and stroke. Females can opt for 'women critical illness rider' that covers illnesses pertaining to them such as complications at the time of pregnancy and malignant cancer of the female organs.

Pros

The policy is simple to purchase with lower premiums, especially for women. It provides terminal illness benefit to policyholder.
The policy covers death due to terrorist attacks.

Cons

The definition of terminal illness is not easy to understand and may lead to complications at the time of making a claim

Cons

The definition of terminal illness is not easy to understand and may lead to complications at the time of making a claim. Accidental Death rider does not cover accidental disability which is a more tough situation with no income and heavy medical expenses.

Suited for

This low cost policy is suitable for those looking for a high value cover.
The policy can be taken by anyone who can access the internet and make online payments.

Our View

A term plan can be taken to cover against the irreversible loss of life of a breadwinner. The rider to waive premium is valuable in this policy.
The online policy helps saving costs, which otherwise would have to be paid to intermediaries. The benefit of low cost to insurance company is transferred to policyholders as low premium rates.

Eligibility

Entry Age (years)

Minimum

18

Maximum

65

Maximum Maturity Age (years)

75

Policy Term (years)

Minimum

5

Maximum

57

Sum Assured (Rs)

Minimum

1000000

Maximum

No limit

Minimum Premium (Rs)

Yearly

1675

Single

7075

Premium Payment Frequency

Single, Yearly, Half-yearly, Quarterly, Monthly (via ECS only)

Premium Payment Term

Single or equal to policy tenure

Premium Factor (multiply with annual premium)

Half Yearly: 0.512 times annual premium; Quarterly: 0.259 time annual premium; Monthly (through ECS only): 0.087 time annual premium

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, including the rider cover, if any, will be terminated.

Lapsed Policy Reinstatement

If premium are not paid before the expiry of the 30 day grace period from the premium due date, the policy will lapse. If the Policyholder fails to reinstate a policy within this two year period from the premium due date, the policy will terminate. On reinstatement, all outstanding premiums, without interest will be payable..

Tax Benefits

Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply. Premiums paid for AEGON Religare 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

Surrender Value

In case of single premium policy; you may surrender the policy after completion of three policy years. On surrender, the company will pay the Surrender Value as per the following formula: Surrender Value for single premium policy = 0.7 * single premium (excluding any extra premium loading and service tax) * outstanding Policy Term (rounded off to a lower integer) or Policy Term.

Customer Service

Address

AEGON Religare Life Insurance Company Limited, Nomura B-wing, First Floor, Unit 102
Near D-mart, Hiranandani Business Park, Hiranandani Gardens, Powai,
Mumbai 400 076

Mail To

customer.care@aegonreligare.com

Call On

1800 209 9090 between 8:30 am to 8:30 pm

Additions to the Plan

Available Rider(s)

Aegon Religare AD Rider
Death due to an accident
Aegon Religare Waiver of premium (WoP) on Critical illness Rider
This Rider covers 4 critical illness conditions as specified in this document. On being diagnosed with any of these 4 critical illnesses, future premiums payable under the base plan and riders (if any) are waived while the life cover and rider cover (if any) continues. The illnesses covered under this rider include Cancer, Coronary Artery Bypass Surgery, Stroke and Heart Attack.
AEGON Religare Women Critical Illness Rider
This rider covers illnesses pertaining to women. On being diagnosed with any of the covered illness, a certain percentage of the base plan Sum Assured will be paid. The illnesses covered under this rider are classified into 2 groups. Group 1 covers malignant cancer of the female organs wherein in 5% of basic sum assured, subject to maximum of Rs 10 lakh is paid. In Group 2 Birth of child with congenial disorders or surgeries are covered with 2.5% of basic sum assured, subject to maximum of Rs 5 lakh is paid.

Rider Conditions

Entry Age (years)

Minimum

18

Maximum

55

Maximum Maturity Age (years)

65

Rider Term (years)

Minimum

5

Maximum

57

Sum Assured (Rs)

Maximum

Lower of Base plan insurance or 25 lakh

Rider Premium (Rs)

For ADDB Rider, presmium should be <=30% of base plan premium and for Critical Illness Rider, premium should be <=100% of base plan premium available only with annual premium option.

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 )

  1. ICICI Prudential Tax Plan Invest Online
  2. HDFC TaxSaver Invest Online
  3. DSP BlackRock Tax Saver Fund Invest Online
  4. Reliance Tax Saver (ELSS) Fund Invest Online
  5. Birla Sun Life Tax Relief '96 Invest Online
  6. IDFC Tax Advantage (ELSS) Fund Invest Online
  7. SBI Magnum Tax Gain Scheme 1993 Invest Online
  8. Sundaram Tax Saver Invest Online
  9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

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      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds Invest Online
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds Invest Online
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds Invest Online
      1. DSP BlackRock MicroCap Fund
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      1. Reliance Banking Fund
      2. Reliance Banking Fund
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      2. HDFC Taxsaver
      3. DSP BlackRock Tax Saver Fund
      4. Reliance Tax Saver (ELSS) Fund
    2. Gold Mutual Funds Invest Online
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund


Invest in Tax Saving Mutual Funds Download Any Application Forms
Buy Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now

NHB tax-free bonds and IRFC tax free bonds

Posted: 03 Jan 2014 02:53 AM PST

Download Tax Saving Mutual Fund Application Forms

Invest In Tax Saving Mutual Funds Online

Buy Gold Mutual Funds

Leave a missed Call on

94 8300 8300

 

 

 

After HUDCO & NTPC, now NHB and IRFC have announced their tax free bonds.

Tax free bonds have become the flavor of second half of this financial year and every new bond brings in something extra for investor. After HUDCO & NTPC, now NHB and IRFC have announced their tax free bonds. NHB is offering almost the peak of the interest and will be difficult to miss whereas IRFC issue size is very large.

 

Let's see what these bonds have put across for investors and why they are so appealing:

 

About the NHB and IRFC

 

National Housing Bank is a regulator for housing sector and also a financier. The organization is wholly owned by Reserve Bank of India and is very prominent in ensuring the real estate sector remains affordable for small investors. The company has also launched a Real estate index which shows the trend in real estate process for different cities.

 

On other side IRFC is an arm of Indian Railways specifically created for raising funds. These funds are then utilized for buying wagons, locomotives and coaches along with financing projects of the railways. The company has already set a target for all these objectives and tax free bonds is one of the means for achieving the same.

 

Tax Free Bond features

 

The issue size of NHB is Rs 2100 crore while IRFC is raising almost Rs 10000 crore from investors. 40% of the money is kept for retail investors who are offered a higher interest than other categories. Both these bonds are for long term with a term options of 10, 15 and 20 years period. Price offered for these bonds is Rs 5000 per bond and one can subscribe to one bond.

 

Both these bonds are AAA rated bringing highest safety to the investors. The NHB bonds will get listed at NSE while IRFC will be listed on NSE & BSE which will provide the liquidity and trading opportunities to the investors. NHB issue is opening on 30th December, 2013and will be available uptil January 30th , 2014 while IRFC issue will be available form 6th January, 2014 to 20th January, 2014.

 

Tax Free Bond Interest Rates

 

The good part about these bonds is the higher interest rates offered to retail investors. NHB is offering 8.51.8.88 & 9.01% interest rates to retail investors for 10, 15 and 20 years horizon. On other side IRFC is offering 8.48 per cent for 10 years and 8.65 per cent for 15-year bonds. This interest will entirely be tax free in the hand of investors. With interest rates seems to be in a peak territory, a 9% returns by NHB is the highest and among the few which investors are going to receive.

 

Should you invest?

 

10 year yield of government security has already breached 9% and with RBI not doing any rate hike in its last policy due to slow economic growth indicates that the rise in interest rate may not happen soon. Thus, NHB bonds offering may be at a peak and it will be difficult for other bonds in future to replicate this.

 

Also, when you compare these bonds with FD offering 9% interest, the tax free bonds surely have an edge due to its non-taxability. A FD return will lower down to below7% for someone in highest tax slab. Hence NHB bonds 9% is the maximum an investor may get from these fixed interest instruments.

 

With AAA rating and high interest offering, 15 and 20 year options are good options for investor to invest in these bonds. Don't miss out on NHB since you may not get such high offering in the future. IRFC interest rates are lower than NHB but still it ensures safety of money considering the high rating and ownership of the Ministry of Railways. But ensure that you are allocating your money with a financial planning approach and have identified your requirement before you think of investing in these bonds.

 

 

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

Invest Any Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

---------------------------------------------

 

Best Performing Mutual Funds

    1. Largecap Funds             Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Franklin India Bluechip
      4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds         Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
      4. Birla Sun Life Front Line Equity Fund
      5. Franklin India Prima

C. Mid and SmallCap Funds          Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
      5. Birla Sun Life Dividend Yield Plus
      6. SBI Emerging Businesses Fund
      7. HDFC Mid-Cap Opportunities Fund
      8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds   Invest Online

      1. DSP BlackRock MicroCap Fund

2.       Franklin India Smaller Companies

E. Sector Funds          Invest Online

      1. Reliance Banking Fund
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F. Tax Saver Mutual Funds      Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

      1. DSP BlackRock Tax Saver Fund
      2. Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds        Invest Online

      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund
      4. Birla Sun Life Gold

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



Invest in Tax Saving Mutual Funds Download Any Application Forms
Buy Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now

Birla Sun Life Protector Plan - Level Sum Assured

Posted: 03 Jan 2014 02:36 AM PST

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

Birla Sun Life Protector Plan- Level Sum Assured

 

Eligibility

Entry Age (years)

Minimum

18

Maximum

65

Maximum Maturity Age (years)

75

Policy Term (years)

Minimum

5

Maximum

30

Sum Assured (Rs)

Minimum

500000

Maximum

4999999

Premium Payment Frequency

Yearly, Half-Yearly, Quarterly(via ECS), Monthly(via ECS)

Premium Payment Term

Equal to Policy term

Premium Factor (multiply with annual premium)

0.519 for half-yearly premium, 0.265 for quarterly and 0.090 for monthly instalments

Policy Cover

Cover remains same throughout the policy term

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, your policy will lapse and the life insurance cover will be terminated.

Lapsed Policy Reinstatement

You can reinstate your lapsed policy 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.

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.

Customer Service

Address

Registered office:
Birla Sun Life Insurance
One Indiabulls Center, Tower I,
15th & 16th Floor, Jupiter Mill Compound,
841, S.B. Marg, Elphinstone Road, Mumbai 400013
Write to us at :
Birla Sun Life Insurance
5th & 6th Floor, G-corp Tech park,
Ghodbunder Road, Near Kasar Wadavali police station,
Thane ( W ) 400601

Mail To

customerservice@birlasunlife.com

Call On

1-800-270-7000; + 91 22 43569000 Between 9 am to 9 pm, Monday to Saturday

SMS

BSLI' to 56161

Additions to the Plan

Available Rider(s)

BSLI Accidental Death and Disability Benefit Rider: covers death due to an accident, Permanent disability caused due to an accident.
Critical Illness Benefit Rider: It covers 4 critical illnesses namely; Heart Attack, Cancer, Stroke and Major Organ Transplant. A survival period of 30 days is applicable to claim the benefit.
BSLI Waiver of premium Rider: It is applicable on all future premiums of the base plan and riders for the rest of the policy term or till the proposer (in case of child plans) attains the age of 70 years or on termination of the policy, whichever occurs earlier. This rider becomes active in the following cases; Disabled due to an illness or accident, Diagnosed with any of the four specified critical illnesses, Death of the proposer in case of child insurance plans.
BSLI Surgical Care Rider: For surgeryin India that calls for a minimum of 48 hours hospitalisation involving brain, heart (including coronary arteries), liver or lung, the lump sum benefit amount payable would be 5 times the chosen benefit and for any other surgery, the benefit will be equal to the chosen benefit amount. The policyholder can claim up to 10 times the chosen benefit during one policy year and up to 50 times during the entire policy term.
BSLI Hospital Care Rider: It offers a Daily Cash Benefit ranging between 600 to 6000 rupees on admission to hospital for medical necessity for a period of at least 48 hours.
An additional ICU benefit of 100 per cent of daily cash benefit is also payable for a maximum of 15 days during the policy year.
A policyholder can claim 100 times the chosen daily cash benefit in one policy year and 250 times the chosen daily benefit amount in entire policy term.
A recuperating benefit in lumpsum which is equivalent to 3 times the chosen daily cash benefit for continuous hospitalisation of 7 or more days for the same injury or disease, a lump sum benefit will be payable. However, the policyholder must be alive to claim the benefit under this rider.

Rider Conditions

Entry Age (years)

Minimum

18

Maximum

65

Maximum Maturity Age (years)

70

Rider Term (years)

Minimum

Same a base policy term or attainment of 70 years of age whichever is earlier.

Sum Assured (Rs)

Minimum

BSLI Accidental Death and Disability Rider, BSLI Critical Illness Rider: 75000; BSLI Surgical Care Rider, Hospital care rider: 1.5 lakh

Maximum

BSLI Accidental Death and Disability Rider, BSLI Critical Illness Rider: Rs 50 lakh; BSLI Surgical Care Rider, Hospital care rider: 15 lakh, subject to maximum of 100 per cent of base plan sum assured

Rider Premium (Rs)

For instance premiums that a 30-year old male, will pay for each rider with Rs 5 lakh sum assured for a premium paying term of 10 years is given below:
BSLI Accidental Death and Disability: 750
BSLI Critical Illness: 900
BSLI Surgical Care: 1005
BSLI Hospital Care: 1000
BSLI Waiver of premium(Rs 40 lakh Sum Assured plus other rider sum assured): 283

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 )

  1. ICICI Prudential Tax Plan Invest Online
  2. HDFC TaxSaver Invest Online
  3. DSP BlackRock Tax Saver Fund Invest Online
  4. Reliance Tax Saver (ELSS) Fund Invest Online
  5. Birla Sun Life Tax Relief '96 Invest Online
  6. IDFC Tax Advantage (ELSS) Fund Invest Online
  7. SBI Magnum Tax Gain Scheme 1993 Invest Online
  8. Sundaram Tax Saver Invest Online
  9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds Invest Online
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds Invest Online
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds Invest Online
      1. DSP BlackRock MicroCap Fund
    1. Sector Funds Invest Online
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    1. Tax Saver MutualFunds Invest Online
      1. ICICI Prudential Tax Plan
      2. HDFC Taxsaver
      3. DSP BlackRock Tax Saver Fund
      4. Reliance Tax Saver (ELSS) Fund
    2. Gold Mutual Funds Invest Online
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund


Invest in Tax Saving Mutual Funds Download Any Application Forms
Buy Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now

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