Thursday, October 31, 2013

[New post] Cobra’s Interview with Alexandra Meadors 29 October 2013

kauilapele posted: " . * White House Congressmen (2:30) * 22 Generals Resignation & Cabal's Plan to get Rid of the Good Guys (3:30) (16:33) * NASA - A Negative Military Organization (4:10) * 3 Dimensional Objects Docking Behind the Moon (5:30) * James Mccanney & Come"

[New post] Keiser Report: Red Queen Syndrome (E517)… “and about the Fracking”

kauilapele posted: "The reason I post this Max Keiser video is that at the beginning, he and Stacy talk about fracking and how the "oil powers that be" are finding out that it does not yield as much as they thought it would. . . "In this episode of the Keiser Report, Max Ke"

Daily Headlines: Thursday, October 31, 2013

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Insurance Journal Daily Headlines
October 31, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Buffett Looking For Acquisitions as Berkshire's $40B Cash Pile Deemed 'Too Much'

Warren Buffett, who aims to have $20 billion in cash at his Berkshire Hathaway Inc., isn't investing fast enough to keep money from piling ...

Bolt Solutions Acquires Online Aggregator Superior Access (SAIS)

Bolt Solutions Inc., which provides property/casualty insurance online distribution and comparative rating platforms, has acquired Austin, ...

Safe, Happy Halloween From 'World's Leading Authority on Poisoned Candy'

I have a second, unpaid job. It's seasonal. Each year during the last two weeks of October, I field a lot of calls from reporters. You see, ...

Rusbuldt on McKinsey 4: Trusted Choice, CAP as Part of Agents' Internet Strategy

Bob Rusbuldt, president and CEO of the Independent Insurance Agents and Brokers of America - the Big "I"- takes issue with a McKinsey ...

ThinkRisk, Aspen Launch New Private, Non-Profit Management Liability Program

ThinkRisk Underwriting Agency, a division of RSG Underwriting Managers, LLC, and Aspen US Insurance have launched a new national management ...

From MyNewMarkets.com Markets-in-Motion: Sports & Entertainment Arenas

The 650,000 square foot Honda Event Center in Anaheim, Calif. holds thousands of people at any given time, creating the opportunity for many...
Carrier Management

S&P Ups XL Rating to A+; 3Q Earnings Fall on Large Losses

Standard & Poor's boosted the financial ratings of the operating subsidiaries of XL Group to A+ on Tuesday, providing...
Academy of Insurance Halloween Sale - 31 popular courses on sale today - browse the courses
East

Wall Street Commuter Ferry Operator Settles Crash Claims

The owner of SeaStreak Wall Street, a commuter ferry that crashed in Manhattan's financial district on Jan. 9, has settled more than 45 ...

Virginia High Court Reverses Verdict in Virginia Tech Shootings

Virginia Tech University couldn't have foreseen the rampage of a lone gunman who initially shot two people to death and later killed 30 ...

Penn. Regulators Offer Advice on Insurance Coverage for Halloween Hazards

Soon, trick-or-treaters will hit the streets for Halloween. But with so many unpredictable elements at play, the chances of an accident or ...

Selective Insurance Q3 Profit Rises 79% to $33M

Selective Insurance Group of Branchville, N.J., reported Wednesday $32.653 net income for its 2013 third quarter, a 78.7 percent increase ...

Donegal Group's Q3 Profit Up 12% to $7.7M

Donegal Group Inc. of Marietta, Penn., reported on Oct. 25 net income of $7.654 million for its 2013 third quarter, an 11.9 percent ...

Many Sandy-Displaced N.J. Residents Dissatisfied With Insurers: Survey

A new survey of New Jersey residents who have been displaced from their homes because of Superstorm Sandy shows many of them are not happy ...

New Jersey Gov. Christie Helps Towns Mark Sandy Anniversary

On the anniversary of Superstorm Sandy, New Jersey Gov. Chris Christie toured the state Tuesday to celebrate New Jersey's progress in ...
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Midwest

United Ethanol Cited After Worker Dies in Wisconsin Corn Bin

United Ethanol LLC has been cited for 15 health and safety violations by the U.S. Department of Labor's Occupational Safety and Health ...

Keystone Insurers Group: Nicoud Insurance Is First Illinois Franchise Partner

Keystone Insurers Group has welcomed Springfield-based Nicoud Insurance Services as its first franchise partner in Illinois. The ...
Southeast

Tennessee DUI Results in Question After Firing

Thousands of driving under the influence ((DUI) results from across Tennessee may be in jeopardy after the firing a Tennessee Bureau of ...

Judge Weighs Alabama City's Case Over Police Officer's Facebook Posts

A Dothan, Alabama judge is considering whether city officials acted appropriately in upholding disciplinary action against a police officer ...
South Central

OSHA Fines Trucking Company $113K After Worker Fatality in Arkansas

Sherman Brothers Trucking Inc., doing business as Team Transport Inc., has been cited by the U.S. Department of Labor's Occupational Safety ...

Texas Mutual Pays $651K Dividend to CompGroup AGC

Texas Mutual Insurance Co. announced that the CompGroup AGC has earned a $651,166 workers' compensation dividend. The dividend is based ...

Flooding in Central, Southeast Texas Prompts Evacuations

A flash flood watch remains in effect for Central Texas counties today after torrential rains  - up to 14 inches reported in some areas - ...
West

California Lodge Owner Convicted Of Insurance Premium Fraud

Brookdale Lodge owner Sanjiv Kakkar, 52, was sentenced to 364 days in jail and three years of probation after pleading no contest for two ...

$167K Settlement in Nevada Apartment Discrimination

The owners and operators of a Reno, Nev. apartment complex have agreed to pay $167,000 to settle a housing discrimination lawsuit over ...

Oregon Mother Seeks $7.6M In Meatball Choking Death Lawsuit

The mother of a young Oregon girl who died after choking on a meatball at her preschool is seeking $7.6 million in a lawsuit against the ...

Alaskan Mayor Signs Local Disaster Declaration

Kenai Peninsula Borough Mayor Mike Navarre has signed a local disaster emergency declaration due to the unseasonably heavy rains that have ...

Washington City Braces For Increased Flood Risks

New information shows sediment buildup in the White River is increasing the flood danger faced by the city of Pacific, Wash. The King ...
International

Hyperion Insurance Head David Howden on U.S. Expansion by MGA DUAL

David Howden, the chief executive of the London-based Hyperion Insurance Group, founded the company in 1994, "as a business to take on ...

Zurich Insurance Says 'Confident' on Profitability Measure

Zurich Insurance Group AG, Switzerland's biggest insurer [3rd largest in Europe], said it is still "confident" its non-life unit can ...

Aon Benfield's Impact Forecasting Launches Riot Modeling Tool for Indonesia

Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, announced the launch of "its first tool to ...

Swiss Re Sees Emerging Market Construction Boosting Premiums

Swiss Re Ltd., the world's second-biggest reinsurer, estimates $43 trillion in infrastructure investments related to urbanization in ...

XL Group Posts $135.6 Million Q3 Net Income

The XL Group announced net income and operating net income of $135.6 million and $154.6 million, respectively, compared to net income and ...
Academy of Insurance Halloween Sale - 31 popular courses on sale today - browse the courses


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New Discussions in the Forums

Travelers reducing commissions
Posted: Wed Oct 30 -- It's not an 8% cut, it's actually a 20% cut: 15% x .80 = 12%. Despite the cut,... gforaker
7 day insurance policy
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New Phone Line System Help
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SCUBA Dive Shop
Posted: Thu Oct 24 -- If you're still having difficulty placing this account I would contact Bliss and Glennon. They helped me place several Yacht cleaners... Shagster121261

Reader Comments

Arkansas Judge OKs Class-Action Status in Marlboro Lights Suit
Posted: Thu Oct 24 -- Let me preface that I am an ex-smoker but still think that people have the right to smoke if they want. I am sick and tired of tobacco... WyomingAgent
Idaho Lawsuit Is Latest Claim Against Remington
Posted: Mon Oct 28 -- basic principle of firearm use/handling: never point it in any direction that might cause injury should it misfire. why would he have been... bob
Bipartisan Deal Reached to Delay Flood Insurance Premium Hikes: Waters
Posted: Mon Oct 28 -- I am still laughing. Where are all my capitalistic, market crazy Republican friends who should be insisting the rates be market rates, no... JohnS
Alabama Couple Sues Kentucky Motel Owners for $5M Over Illness
Posted: Mon Oct 28 -- Yet another blatant example of throwing a high number in the air in the hopes the motel's carrier will settle for less. How in the hell did... Scott
Insurance, Tax, Climate Groups Hit Possible Delay in Flood Insurance Changes
Posted: Mon Oct 28 -- Maybe the govt should stop sending out $25 billion yearly to other anti-American countries and use the funds to solidify the FEMA/NFIP... Earl Murphy

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Prajna Capital

Prajna Capital


New India Senior Citizens Mediclaim Policy

Posted: 31 Oct 2013 02:17 AM PDT

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

New India Senior Citizens Mediclaim Policy

Objective

Objective of the policy is to cover senior citizens- a stage of life cycle when insurance is most required.

 

Suited for

Anyone between 60 and 80 years of age looking for a coverage up to Rs 1.5 lakh can take this policy.

 

What does it do?

This policy pays for senior citizens' hospitalisation expenses, pre and post hospitalisation expenses, though with sub-limits. It covers ayurvedic, homeopathic and Unani treatment as well. An added advantage is that it covers pre-existing hypertension, diabetes mellitus for an additional 10 per cent premium payment. In the event of four claim-free years, the insured person can get reimbursement for a health check-up.

 

Pros

Cover can be extended upto 90 years of age.
Family discount of 10 per cent is available if spouse is also covered.
Premium discount of 10 per cent is available for taking a voluntary deductible.
A bonus of 5 per cent is paid for each claim free-year upto a maximum of 30 per cent of initial sum insured.
Provision to cover pre- existing hypertension, diabetes mellitus on payment of additional 10 per cent premium.
Premium paid is eligible for tax benefit under section 80D of the Income Tax Act.

 

Cons

It allows to take a maximum sum assured upto Rs 1.5 lakh only and has a shorter freelook period of 10 days.
The premium will be loaded by 10 per cent for renewals during 81 to 85 years and by 20 per cent during 86 and 90 years.
It has sub-limits.

 

Our View

A decent policy for senior citizens, where voluntary deductible option can be availed. The major drawback is that it offers a maximum of 1.5 lakh cover only which may not be sufficient at this age. It is difficult to escape sub-limits at this age.

 

Eligibility

Entry Age (years)

Minimum

60

Maximum

80

Maximum Policy Renewal Age (years)

90

Coverage Type

Senior Citizens

Policy Term (years)

1

Sum Insured (Rs)

Maximum

1.5 lakh

Minimum

1 lakh

Tax Benefit

Section 80D of the Income Tax Act are applicable

Discount

Family discount of 10% if spouce is also covered
discount of 10% for taking a voluntary deductible of Rs 10000

No Claim Bonus

5% for each claim free year upto maximum of 30% of initial Sum insured. On acceptance of claim during any policy year, entire cumulative bonus earned shall be withdrawn in subsequent policy year.

Pre Policy Medical Check Up

Mandatory

Free look Period

10 days

Premium Loading on Basis of Claim History

Loading of 10% is applicable for renewal between age of 81- 85 years and 20% on renewal between age of 86-90 years

Policy Termination

Insurer may cancel the policy by giving a 30 days written notice to policyholder. Policyholder may also cancel the policy at any time by giving a written notice to insurer. In case policyholder cancelling the policy, a certain percentage of premium would be refunded on prorata basis.

Customer Service

The New India Assurance Co. Ltd Jeevan Bharti Building, Corporate Office: 87, M.G Road, Fort, Mumbai 400001; Regional Office: 124 Connaught Circus, New Delhi-110001

Customer Service

Mail to

nia.310000@newindia.co.in

Call to

1800 209 1415

Network Hospitals

Http://newindia.co.in/listofhospitals.aspx

 

Scope Of Cover

Cashless Facility

Available at network hospitals

Reimbursement Facility

Available if treatment taken at any non empanelled hospital

Pre-hospitalisation

covers medical expenses upto 30 days immediately prior to hospitalisation subject to maximum of 5% of hospital bill

Post-hospitalisation

covers medical expenses upto 60 days immediately post discharge from hospital subject to maximum of 10% of hospital bill

Inpatient Hospitalisation

Covered

Room rent/ ICU expenses

Room rent and boarding expenses will be covered upto 1% of Sum Insured per day and ICU expenses will be covered upto 2% of Sum Insured per day subject to an overall limit of 25% of Sum Insured

Surgeon, Anaesthetist, Medical Practitioner, Consultant's Specialist fees

covered upto maximum of 25% of Sum Insured

Anaesthesia, blood,oxygen, OT charges, surgical appliances, medicines, drugs, diagnostic material, X Ray and artificial implants

Covered upto maximum of 50% of Sum Insured

Ayurvedic/ Homeopathic/ Unani treatment

Covered upto maximum 25% of Sum Insured

Emergency ambulance

Covered upto maximum of Rs 1000

Expenses for organ donor of transplant

Covered

Pre existing hypertension, diabetes mellitus

will be included in cover since inception of policy only on payment of additional premium of 10% of basic premium for each condition

Domiciliary Treatment

Not Covered

Health Check Up

allowed once after every 4 claim free years maximum upto 1% of sum insured excluding cumulative bonus

 

Exclusions and Waiting Period

Pre-existing Diseases

Covered after a period of 18 months

No claim period

30 days commencing from inception of policy except for accidental injuries

Waiting Period

Certain diseases such as hernia, diabetes, mellitus, cataract etc. will be covered after a waiting period of 18 months.Age related Osteoarthritis and Osteoporosis and joint replacement due to degenerative condition will be covered after a waiting period of 48 months.

Deductible

Voluntary deductible of Rs 10000 is applicable

General Exclusions

Self inflicted bodily injury Dialysis, Chemotherapy and radiotherapyDental treatment, Cost of spectacles, braces and contact lensesNaturopathy treatmentEngagement in any illegal or criminal activitiesBodily injury arising as a result of terrorismbodily injury or disease caused as a result of HIV/ AIDS or any related conditionEngagement in adventurous acts such as parachuting, bunjee jumping etc

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

PNB Met Suraksha Plus

Posted: 31 Oct 2013 01:43 AM PDT

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

PNB Met Suraksha Plus

Objective

This is an offline insurance policy that pays sum assured to the family members in case of unfortunate demise of the insured member.

What does it do?

A term plan that pays Sum Assured in case of inopportune death of the life insured. There is no maturity or surrender value. USP of the plan lies in where the company proposes to reduce the premiums of existing policies in case the product undergoes re- pricing and premiums of the plan decrease at anytime in future however, it will not increase the premiums in case of an upward price change during re-pricing.

Pros

Premium rates will reduce for existing policyholders in case the rates are revised downward, and remain unchanged in case of a hike.
High sum assured policies can avail lower premium rates.
The policy offers coverage for longer tenure of 35 years.
One can add riders for wider coverage. A lapsed policy can be reinstated within 3 years. Premiums paid toward the policy qualify for tax benefits.

Cons

Riders can be attached only at the time of purchase.

Suited for

Those who prefer agent's assistance in buying a policy can take this policy.

Our View

Term plans are the best kind of life insurance available. If you cannot buy a policy without agent's assistance, you may take this policy. However, if you are comfortable with online purchases, look for online policies as they have lower premium rates. You can avail riders for a marginal increase in premium and enhance the scope of coverage.

Eligibility

Entry Age (years)

Minimum

18

Maximum

60

Maximum Maturity Age (years)

70

Policy Term (years)

Minimum

10

Maximum

35

Sum Assured (Rs)

Minimum

Non Smokers: 2500000 Others: 1000000

Maximum

No limit

Minimum Premium (Rs)

Yearly

3600

Half-Yearly

1847

Quarterly

938

Monthly

319

Premium Payment Frequency

Yearly, Half-yearly, Quarterly, Monthly, Payroll Savings Plan

Premium Payment Term

Equal to policy term

Premium Factor (multiply with annual premium)

0.5131 for Half-yearly, 0.2605 for Quarterly, 0.0886 for Monthly, 0.0868 for Payroll Savings Program

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 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.

Lapsed Policy Reinstatement

You may reinstate your lapsed policy within 3 years from date of first unpaid premium by paying due premiums and undergoing underwriting requirements, if any.

Tax Benefits

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

Customer Service

Address

MetLife India insurance Company Limited Registered Office: Brigade Seshamahal, 5, Vani Vilas Road, Basavanagudi, Bangalore - 560004

Mail To

indiaservice@metlife.co.in

Call On

1800 425 6969 or +91 080 26438638 from 8 am to 8 pm

SMS

Protect' to 5676769

Additions to the Plan

Available Rider(s)

Accidental death benefit: It covers death due to an accident within 180 days of the accident.
Critical Illness Rider: This rider covers 10 critical illnesses namely: Heart Attack, Stroke, Cnacer, Surgery to coronary arteries, Kidney failure, Major organ transplant, Aorta surgery, Blindness, Heart valve replacement and Paraplegia. This rider benefit can be availed only after 90 days starting from the policy purchase date have elapsed. There is also a survival period of 30 days from the date of confirmed diagnosis of the illness before the benefit is actually paid.

Rider Conditions

Entry Age (years)

Minimum

18

Maximum

50

Maximum Maturity Age (years)

60

Sum Assured (Rs)

Minimum

50000

Maximum

Lower of Base plan insurance or 10 lakh

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; the annual rider premium works to Rs 400 and Rs 1085 in case of Critical Illness Rider.

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

Bharti AXA Life Family Income Secure Plan

Posted: 31 Oct 2013 12:42 AM PDT

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

Bharti AXA Life Family Income Secure

 

Objective

This term insurance plan pays policy benefits to the nominee as annual installments over a 20-year period, instead of a lump sum payment.

What does it do?

In case of the policyholder's death, the plan will pay an annual sum over next 20 years to the family.
On survival, entire premium paid is returned to the policyholder on maturity.

Pros

The policy provides for maturity benefit on survival and surrender benefits if one wants to surrender the policy mid term.
The annual payout can be used as a replacement of income, and it's better than receiving a lump sum payment.

Cons

There are no rider options available with the plan.
Policy is available for a fixed tenure of 10, 15 or 20 years.

Suited for

This policy is suitable for those not happy with the idea of paying premium for a pure term plan, paying only death benefit.

Our View

The return of premium option is a marketing gimmick and does not add value, as you end up paying higher premium as compared to a plain risk cover offered by the same insurer.
The annual payout of claim benefits is useful for the policyholder's nominees.

 

Eligibility

Entry Age (years)

Minimum

18

Maximum

60

Maximum Maturity Age (years)

70 years for 10 year term
75 years for 15 year term
80 years for 20 year term

Policy Term (years)

Minimum

10,15

Maximum

20

Sum Assured (Rs)

Minimum

Annual Income (as selected while buying the policy x 20 years)

Maximum

No limit

Minimum Premium (Rs)

Yearly

2500

Half-Yearly

1300

Quarterly

675

Monthly

225

Premium Payment Frequency

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

Premium Payment Term

Equal to Policy term

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 for Yearly, Half yearly and quarterly premium payment modes and 15 days in case of monthly premium payment mode.. 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 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.

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.

Maturity Value

100% of total premiums paid during benefit term

Surrender Value

Allowed after three year premiums have been paid duly on time and three years have alapsed. It is calculated as: 30% x premiums paid till date excluding first years premium excluding first year's premium and any extra premium paid.

Customer Service

Bharti AXA Life Insurance Company Limited, Unit 601 & 602, 6th Floor, Raheja Titanium, Off Western Express Highway, Goregaon (East), Mumbai 400 063

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

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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