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All LIC of India plans are Closing by 30th September, Invest now for better returns & Free Risk Cover

Quite a few LIC products which are exceptionally accepted and striking for customers for risk cover, particularly in terms of ROI in the form of tax free maturity value and periodical money back. At present, they are most sold insurance plans having 75% market share as compared to 21 other life insurance companies. These products are bread and butter for LIC. For Customers they are simple to understand plan which covers them for longer term and gives them free risk cover even after the maturity. There are certain plans which give periodical money back from LIC. Due to past record and fast claim settlement customers have good faith with LIC.

All this will change from 1st OCT 2013 and LIC will introduce new plans. All premiums will attract 3.09% Service Tax. In simple terms customer has to pay higher premium and less returns. Also Customers has to furnish more details, family history etc in their new 10 page proposal form.   

Customer’s had a mixed reaction with many of them would like to…
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LIC's New Jeevan Nidhi Plan

LIC's New Jeevan Nidhi Plan is a conventional with profits pension plan which provides for death cover during the deferment period and offers annuity on survival to the date of vesting.
1.Eligibility Conditions and Other Restrictions(For Basic Plan): a) Minimum Basic Sum Assured: Rs.1,00,000 under Regular Premium policies Rs.1, 50,000 under Single Premium policies b)  Maximum Basic Sum Assured: No Limit       (The Sum Assured shall be in multiples of Rs.5000/-) c)  Minimum Entry Age: 20 years (nearest Birthday) d)  Maximum Entry Age: 60 years (nearest birthday) e)  Policy Term: 5 to 35 years f)  Minimum Vesting Age: 55 years (nearest birthday) g)  Maximum Vesting Age: 65 years (nearest Birthday)
2.Payment of Premiums: Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly (through ECS only) or through SSS mode over the term of policy. Alternatively, a single premium can be paid.
A grace period of one calendar month but not less than 30 days will be allowed for payment of y…

Komal Jeevan from LIC

Komal Jeevan is a traditional insurance plan for financially securing child’s future. Komal Jeevan has the typical bonus additions. You can also opt for waiver of premium benefit if required.  The payout begins in phases so you can use the amount as per your emerging needs.
LIC Komal Jeevan Review
Plan Name: Komal Jeevan Insurer: Life Insurance Corporation of India Category: Traditional Participating Plan Objective: Financially Securing Child’s Future
Major USP of LIC Komal Jeevan
Periodic Payout Bonus Additions Waiver of premium rider available
Eligibility of LIC Komal Jeevan Minimum Entry Age: 0 for child Maximum Entry Age: 10 for child Policy Term: 8-18 Years Minimum Sum Assured: 100,000 Maximum Sum Assured: 2,500,000
What benefits does LIC Komal Jeevan offer? Money Back: A specified % of Sum Assured will be paid in intervals after your child turns 18.
Maturity Benefit: On maturity, Sum Assured along with all accrued bonuses and guaranteed additions will be paid
Death Benefit: Sum Assured along with ves…

Great tax saving funds

With options ranging from PPF and NSC to insurance policies, pension funds and infrastructure bonds, one product stands apart.
The Equity Linked Tax Saving Schemes offered by mutual funds not only give tax concessions, but also earn handsome returns. Let's find out why they make sense.
Smart tax-saving solutions ELSS are the mirror image of diversified equity funds. That means the fund manager will invest in shares of various companies across various industries. There is the added tax benefit which a normal diversified equity fund will not have. Under Section 88 of the Income Tax Act, you can get a tax rebate on investments in tax planning investment schemes. Investments in tax planning equity funds is limited to Rs 10,000 per year. This may not save much tax but over the long haul, these funds can generate huge returns and actually result in decent savings. Not convinced? Look at the returns. In the three years ended February 7, 2005, tax planning funds generated 42.58% annualised. Sinc…

HDFC Life's 'Click2Protect' plan

The plan is aimed for those who seek insurance cover at nominal premiums against their liabilities, HDFC Life said in a release issued here. "HDFC Life Click2Protect is available in more than 750 cities across the country, the highest reach of an online term insurance plan in the industry. This plan is aimed at an informed customer who understands their liabilities, the extent of cover needed and is fairly conversant with online purchase practices. Click2Protect offers the convenience of experiencing a simple, fast, convenient, transparent, and cost-effective way of buying a life insurance plan. Apart from HDFC Life Click2Protect, HDFC Life also offers other online products such as HDFC SL Young Star Super II and HDFC SL Crest. HDFC Life is a joint venture between Housing Development Finance Corporation Limited (HDFC) and Standard Life plc, the leading provider of financial services in the United Kingdom.

Immediate Annuity Plan from Star Union Dai-ichi Life Insurance

After living a successful life and fulfilling your family’s dreams, you wish to live your retired life to the fullest too. You want to ensure a self sufficient future for yourself that enables a dignified retirement and peace of mind in your golden years.

SUD Life Immediate Annuity plan provides all of this and more. 

With Immediate Annuity plan your retirement is financially secured with regular life time income in the form of annuity payments. An affordable plan with minimum purchase price of Rs. 5,00,000, this plan is set out to bring the best value of your hard earned savings and ensure a happy retirement to you. You may choose any one option from the 4 options available under this plan, depending upon your annuity requirements and future needs. 

 1) Life Annuity 
 2) Life Annuity with return of purchase price 
 3) Life annuity that increases by 5% every year with return of purchase price on death 
 4) Life annuity that increases by 5% every year without return of purchase price on deat…

Get tax benefit from mutual funds! Here's how

Taxing times are here again. For most of us, this would mean parking more money in PPF or NSC to earn tepid returns, just to claim the tax break. This year, if you are looking to save tax and earn relatively higher returns, we suggest you take a look at Equity Linked Saving Schemes (ELSS). Coupled with other benefits such as shorter lock-in periods and tax-free dividends, the ELSS is definitely worth a slice of your Section 80C investments. Why ELSS? ELSS is like any other diversified equity fund but investors can avail tax benefits, provided the investment is locked-in for a period of three years. How do these schemes stack up against other instruments permitted for tax planning? The best performing ELSS scheme gave a three-year return of 64.5 per cent, while the worst performer in the period gave a return of 19.88 per cent. The 8 per cent return from PPF and NSC hardly compare. ELSS scores on the liquidity front too, with a lower lock-in of three years compared to the PPF's 15 years …