LIC’s Jeevan Shagun (Plan no 826) plan will be launched on 1st September,2014. This is a close ended plan. Plan is open for sale for a period of 90 days only. It is a single premium, non-market linked, with-profit,money-back type product. The single premium is calculated based on the Maturity Sum Assured (MSA) chosen by then […]
Life Insurance
E-Insurance Account and its benefits
Insurance Repository services with a provision to open e-Insurance Accounts were launched exactly one year back. As of now this service is not a great success. The main reason being low awareness about e-insurance account. Also, the insurance industry did not market this service aggressively. Last week, LIC (Life Insurance Corporation) tied up with 5 […]
LIC Jeevan Rakshak (New Plan) – Review & Returns Calculation
LIC’s Jeevan Rakshak (Plan No.827) is a new Endowment Assurance Plan. This is a non-linked and with profits policy. Life Insurance Corporation (LIC) will be launching this plan on 19th August,2014. Key features of LIC Jeevan Rakshak Plan: Sum Assured (SA) : The Minimum SA is Rs 75,000 and the Maximum allowed is Rs 2 […]
Varishtha Pension Bima Yojana (2014) – a Senior Citizen’s pension scheme by the Govt
VARISHTHA PENSION BIMA YOJANA (VPBY) was a Government subsidized scheme announced for Indian Citizens aged 55 years and above, in the Union Budget 2003-04 (Atal Vajpayeeji’s tenure). Now, this plan will be re-launched by the current central government. VARISHTHA PENSION BIMA YOJANA (2003-04) Plan: When the scheme was launched in 2003, over 3 lakh people […]
New Money Back Policies of LIC – Review & Return Calculation
Two New Money Back policies (Table no 820 & Table no 821)were recently launched by LIC (Life Insurance Corporation of India). Let us understand how these plans work and how much returns can we expect from these kind of policies. What are Money Back Policies? The money-back policy from Life Insurance companies is a popular […]
Life insurance : How to get rid off bad insurance?
Life insurance is a key component of a financial plan. If chosen well, it protects the financial well-being of a family in case of any unfortunate event. However, if it has been bought for the wrong reasons then the same policy can become a drain on your finances and savings. Recently I met a prospective […]