My Insurance Advisor

Can we travel into past? Obviuosly no. Then can we buy a policy with past date? Obiviously Yes. Most of the people do not know that there exists an option where they can pay for a policy today by keeping policy commencement date or start from the past till start of new financial year. This option is available in all LIC plans except term plan and annuity plans. Why is this needed? or what are the benefits? The premium on an insurance policy gets reduced by dating back the policy where age of the person insured is an year less. Eg. If a person with birth month November 1991 starts in march then his age is 30, if it is backdated to April then age is calculated as 29. And so premium is a little less comparitively. Maturity waiting period is an year less. Or early return on investment. Eg. If a person starts a policy for 25 years then maturity is after completing 25 years. On the other hand if it is backdated then maturity amount is received an year ealier i.e., after 24 years only.  C...

 It's all about Friday night 19 March 2021 at around 23.00 IST hours WhatsApp, Insta and FB were down for 35-40 min. People who are on Twitter reached Twitter to post the same. And some others reached Google to confirm the same. What does this teach us? Don't invest all your eggs in one basket😅  Keep using telegram or signal or Hike- Indian app also😎 In same way don't invest all your money in only shares or only real estate or only PPF or only LIC. Diversify them😎 Diversifying your investments helps you optimize your risk factors. If share market or real estate is down then only some part of your investment gets affected. All your remaining instruments remain at same levels. So your risk is minimised. For more details on how to diversify investments, do reach us by commenting below

LIC has recently launched 2 plans Aadhaar Stambh (843) and Aadhaar Shila (844). These are non linked, with profit, endowment plans. To avail these 2 plans one must have Aadhaar card. Aadhaar Stambh is specially for men where as Aadhaar Shila is specially for women. These plans have Maturity & Death Benefits with Loyalty Additions, if any. Eligibility Conditions and Other Restrictions : (This plan is only available for standard healthy lives without undergoing any medical examination) Minimum Basic Sum Assured per life* : Rs. 75,000 Maximum Basic Sum Assured per life* : Rs. 300,000 Minimum Age at entry : 8 years (completed) Maximum Age at entry : 55 years (nearest birthday)Policy Term : 10 to 20 years Premium Paying Term : Same as Policy Term Maximum Age at Maturity : 70 years (nearest birthday) Its premium is tax free under section 80 C and maturity amount under 10 (10) D. Need more information about these plans? Feel free to contact us.

LIC launches yet again another new plan of the year - Jeevan Pragati (T. No. 838), which is an endowment plan with increasing risk cover: Here are the salient features of this plan: With Profit Non Linked Endowment Plan with Increasing Risk Cover as below: Term (in Years) Risk Cover 0-5 100% of Basic Sum Assured 6-10 125% of Basic Sum Assured 11-15 150% of Basic Sum Assured 16-20 200% of Basic Sum Assured What is the speciality and beauty of this plan? Its premium remains same over the term. So at the same premium, you will get double the risk cover from 16th year. As your age increases, its necessary to increase your risk cover. No new policies are to taken to increase your risk cover in future Eligibility criteria for the plan is: Minimum age of entry : 12 years Maximum age of entry: 45 years Minimum Sum Assured: 1.5 Lakhs. Policy benef...

For all those who were missing the great plan, Jeevan Shree, from LIC, here is a great news. The old plan is re launched as Jeevan Labh (T. No. 836). And also the minimum sum assured is ₹.2,00,000/- only. Here are the salient features of the new plan Jeevan Labh (836) Limited premium paying term Non Linked With Profit Endowment Plan Plan Term and premium paying terms(PPT) are as under: For term 16 years, PPT is 10 years For term 21 years, PPT is 15 years For term 25 years, PPT is 16 years. You can choose term from one of the above options. It is a very good plan with good returns. Also its payment term is less than plan term, which is useful mostly for professionals or short term paying users. Eligibility criteria for the plan is: Minimum age of entry : 8 years Maximum age of entry: 59/54/50 for above terms of 16/21/25 Minimum Sum Assured: 2 Lakhs. Policy benefits include: Death Benefit: Basic Sum Assured Survival Benefit: Basic Sum Assured...

Life Insurance corporation of India, on 19/08/2015, Wednesday, launching the ULIP plan after a gap of 20 months. It is the first of its kind from LIC after December, 2013. This plan, new Endowment plus, offers investment-cum-insurance during the term of the policy. Plan for your kids education or marriage with this plan. Policyholder has the option to choose anyone from below 4 funds to invest premiums initially and at the time of switching: Fund Type Investment in Government / Government Guaranteed Securities / Corporate Debt Short- term investments such as money market instruments Investment in Listed Equity Shares Details and objective of the fund for risk /return Bond Fund Not less than 60% Fund Not more than 40% Nil Low Risk Secured Fund Not less than 45% Not more than 40% Not less than 15% & Not more than 55% Steady Income -Lower to Medium risk Balanced Fund Not less than 30% Not more than 40% Not less than 30% & Not more than 70% Balanced Income and growth...

Along with the overwhelming happiness, parenthood also comes with great responsibility. Towards that end, such dreams need money. Your plan has to meet the increasing educational and other needs of growing children. It requires well-thought-on financial planning to analyze the expenses involved at every step of bringing up a child. Here are some other points accumulated from around the web about the need of Child Insurance Plans. The Rising Cost of Education. Disciplined Savings Income Protection for Your Child Collateral for Loans Untimely Death of a Parent Customized payouts Sources: Economic Times - Why you must have a child insurance plan Daily Bhaskar  - No kidding: 6 reasons why child insurance is important Policy Bazaar  - Importance of Child Insurance These site have really explained well about Child Insurance plans. Before you continue further make sure you have gone through at-least one of the Sources provided above. So...