Tax Saving Investment Plans By: SjoerdN | - The primary purpose of any insurance plan has to be protection and security. You take insurance for a very specific purpose, for financial security of family members. There are investment linked insurance plans that give you life cover, wealth enhancement and secure investment channel. They help you plan for the unforeseeable future; the reason investment linked insurance policies are called savings plans. They help save for long term goals or for unforeseen future expenditures like building a r ... Tags:investment plan, systematic investment plan, investment plan in india
An Overview On Unit-linked Insurance Plan By: Nandha | - While going for Unit Linked Insurance Plan it is necessary that one has sufficient information about its cost and features included in it. This is necessary so as to get the desired return at the end. A 40 year old man had invested in this insurance but later on found that the profit was due to the high initial cost. Though IRDA came for rescue but still it is essential that one on their part have sufficient information so that there are no adverse effects. Here are a few tips which you can keep ... Tags:ulip plan, what is ulip
Insurance Premiums, Benefits And Features By: Andy Smith | - Insurance is a mechanism which provides monetary compensation for sustaining a loss. Today, insurance is provided for loss of an asset such as a building, vehicle, etc. Insurance is also applicable for living people and it is offered as life insurance. Today, life insurance has acquired a special position much above general insurance.
Save Your Tax With Wise Investment Choices By: Angel | - Most of us tend to spend a lot of time in planning our finances and investments and at the end think about tax savings. When so much emphasis is laid on finding the right investment options then why not look out for investments that can be tax saving too. Some of the most promising tax saving options are discussed below.
Grow Your Savings With Investment Plans By: SjoerdN | - Saving monthly is an important part of managing finances, but as important is to keep that money safe and let it grow while it is being saved. Though there are a few other options for the same, insurance has come up as one of the best and rather popular investment alternative. It covers your life, besides providing risk free profits. Indian insurance companies, public as well as private players, offer various investment insurance options with reasonably priced premium.
Eight Simple Way To Plan Your Tax By: Ram | - 1)Proper Allocation of Annual compensation
Restructuring your salary with some additional components can reduce your tax liability. This restructuring doesnt require any additional cash outflow. The following components can be efficiently used to reduce your income tax liability.
Transport allowance to the extend of Rs.800 is exempt
Medical expenses which are reimbursed by the employer are exempt to the tune of Rs.15000
Food coupons like sodexo or t ... Tags:Tax planning
A Personal Finance Checklist For Newlyweds By: Ram | - In recent studies, many couples ranked financial matters as one of the most essential factors when it comes to happiness in a marriage. It is one of the key factors causing marital stress.
Money Compatibility
First thing to do is to check how compatible you and your spouse in money management. You may be conservative and your spouse may be aggressive. You may think that the best place to invest is stock market and your spouse may think bank FDs.
This may not be a great idea. But can be done in a different fashion. That is you gift a piggy bank to a child with 90 one rupee coins. Set a target for the child to make it to Rs.100 in a month. This motivates the child to save Rs.10 extra to make it Rs.100. Like wise you can set a target for a year. Also announce some bonus when the child achieves a particular target. Say when it reaches Rs.1000 give the child a bonus of Rs.100. ... Tags:gifts
End To Ambiguous Insurance Policies In India By: Chris L | - The Insurance Regulatory and Development Authority (IRDA) have come up with a new initiative for policyholders. They have planned to ban beguile products to assure that policy buyers are not treated dishonestly. After the introduction of privatization in the insurance sector, the insurance industry is slowly seeing a growth. However, they still need to come up with new rules that will help the consumers get their best and do not get influenced by the products that only promise good return on the ... Tags:Insurance company in India
A Mutual Fund ELSS is similar to diversified equity funds. That means the fund manager can invest in shares of various companies across various industries. The difference is ELSS has got the added tax benefit, something a diversified equity fund does not offer.
ELSS is part of the Section 80C instruments which are cumulatively eligible for a deduction from inc ... Tags:ELSS
A Step By Step Guide To First Financial Plan By: Ram | - Get a PAN Card:
PAN Card is an ID card issued by income tax department. This card is useful in filing your Income Tax returns. Apart from this, the PAN card is very much useful in opening a bank a\c, demat a\c, investing in mutual funds and the like. The required documents for getting a PAN card is a passport size photo, address proof and an identification proof. You need to apply with either UTI or NSDL. They are the two approved agencies by income tax department for issuing PAN card.
What Exactly Are Unit Linked Insurance Plans (ulips) ? By: jacksup | - In last few years ULIP is more popular among individuals rather than a term plan or an endowment plan. The people who have chosen term or endowment plan are switching to Ulips. Therefore it is very important to understand how ULIPs work
ULIP is an abbreviation of Unit Linked Insurance Policy.
Definition- ULIP is a combination of insurance & investments. Unlike traditional subject to the risk factors where the risk is borne by the policyholder, the investment risk is related wit ... Tags:home loan, loan, personal laon, Life Insurance
Hand Book For All Types Of Insurance Policies By: Andy Smith | - Insurance is a way of providing compensation if any loss, accidents or damages, death, illness etc occurred to its policy holders. A person who buys insurance policy is known as policy holder. The duty of policy holder towards insurer or insurance company is to pay money on regular basis. These regular payments are known as premiums. Payment of premiums can be paid in short intervals such as monthly, quarterly, half yearly, yearly basis.
Benefits And Importance Insurance By: Andy Smith | - Insurance, when introduced was a very good form of securing the future of ones family. Life insurance still remains one of the best ways of providing financial support to the dependants in the event of the death of the earning member of the family.
Insurance has now grown into a preferred investment portfolio for salaried and business people alike. A person investing in Life insurance may not become a wealthy person after sometime, but investing in a good policy will at least p ... Tags:Insurance, Insurance policies, Insurance companies
Agents Tricks To Make You Pay By: tomleen | - When the agent tries to sell life insurance policy then he uses all tricks to force the other person to buy it. But the worst part is that even the educated class also becomes easy prey of agent tricks. Here, we will list some of the commonly used tricks which will help you in protecting yourself from such tricky situations-
Historical high returns of the fund- The agents try to sell insurance policy by citing some illusion on funds huge returns in the last 3 or 5 years. But, it is not ... Tags:life insurance, life insurance in India
What Are Benefits Of Investment In Pension Plan? By: Sameer Ujwal | - Life insurance policy is one of the most important things that a person should buy in his or her lifetime. Earning members of the family must especially get the best life insurance plan to help their dependents fight the challenges of life in case of their unexpected death.
To avail benefits of life insurance what you need to do is pay a small amount of money every 12 months to your insurance provider. In the event of your death, your nominee will receive an amount called the sum as ... Tags:compare insurance, pension plan, best pension plans in India
Unit Linked Insurance Plans By: Jennie Kakkad | - Higher the rate of inflation, lesser is the value of money. This is a thumb rule to be kept in mind while making any long-term investment. Generally, at the time of making the investment, the return promised at maturity, usually 10-20 years, looks attractive. But when the realized amount is received on the maturity date, its value normally gets reduced to peanuts. This is because the rate of return could not match to the rate of rising inflation and other economic variables.
ULIP stands for Unit Linked Insurance Plans. We already know that insurance is for protecting our life from any uncertain event like death or accident. The purpose of a normal insurance plan is to just protect the life and not ensure any savings for the future. One example of a pure insurance plan is term insurance. Many people want a plan which offers them both protection and a return on their investment. So the insurance companies came up with the idea of online ULIP ... Tags:
Many Facets Of Life Insurance By: SjoerdN | - Insurance covers risk, life insurance covers the risk to life. Life insurance has become an important tool of providing security to the family in case of premature death of the earning member.It has come a long way from being a simple life insurance; from a protection to family against the earning members death to investment and wealth generation.
Private Insurers See Business Growing From This Month By: Bimadeals | - Private life insurers, which have been seeing a decline in new business since last August when the new unit-linked insurance plan (Ulip) guidelines came into force, are hopeful of posting good numbers from this month.
September onwards we are expecting a positive trend because the industry has been facing a sluggish growth since August last year and compared to those numbers, we see signs of growth going ahead, said G N Agarwal, chief actuary, Future Generali Life Insurance Co. ... Tags:Future Generali, Life Insurance, Max New York Life
Mass Exodus Of Agents Hits Life Insurance Business Hard By: Bimadeals | - The slashing of agents commission in selling unit-linked insurance policies (Ulips) is costing the life insurance companies dear, with agents leaving the business in droves, resulting in a fall in business.
According to information available with the Insurance Regulatory and Development Authority (Irda), at least 10.45 lakh agents left the business in the financial year 2010-11, against 7 lakh who joined, resulting in a 35 per cent fall, compared with the beginning of the financi ... Tags:Life Insurance Companies, Bajaj Allianz Life Insurance, LIC
Returns On Pension Plans Will Now Be Market Determined By: Bimadeals | - If you are planning to buy a pension plan, you need to exercise more caution. The expected returns from unit-linked insurance plans (ULIPs) will now be subjected to market conditions. They could be go higher than 15 per cent or even drop to 1-2 per cent, thanks to new norms on pension plans mooted by the Insurance Regulatory and Development Authority (IRDA).
The existing minimum guaranteed annual rate of return at 4.5 per cent is proposed to be removed by the regulator with some kind of as ... Tags:Pension Plan, Life Insurance, Bharti AXA Life Insurance
Life Insurance: Ulips Vs Traditional Products By: Shankar Nath | - Until end of August this year, the bulk of the life insurance products sold by insurance companies was ULIPs (Unit Linked Insurance Plans). Almost 70% of the new business premium earned by the life insurance companies was through ULIPs. The entire life insurance distribution machinery touted ULIPs as the ideal investment cum insurance product. While ULIPs were the flavour of the reason, there was a slightly unfortunate reason for them being pushed so much by the distributors- and that was becaus ... Tags:ULIPs, Life Insurance, ULIPs vs Life insurance
Regular Premium Policies Bear Sales Dip By: Bimadeals | - Regular premium policy sales by private life insurers plunged 43.27 % after September 2010 compared with a 15.47 % rise in the first six months of the 2010-11 economic year.
During the October-March time, considered as the highest selling months in the life insurance business, private insurers could collect a premium income of Rs 10,320.74 crore from new regular premium policies against Rs 18,194.26 crore a year ago.
What Insurers Can Discover From Lic By: Bimadeals | - In a year when the largest life insurance player LIC gained market share at the cost of private players, most of whom were grappling with the new Irda regulations on Ulips, there have been a lot of valuable lessons learnt for the private life insurers.
It is not only the right product mix that helps gain market share but the age old tradition of advice-based insurance selling that really works, according to private players in the industry.
Irda To Modify Rules For Pension Plans By: Bimadeals | - Bharat's Protection Regulatory and Use Somebody (Irda) is set to convert rules for award plans that record for most 30% of the account insurance business's activity, a top lawyer said.
This may provide the business recuperate byplay volumes that hold dropped sharply after the controller imposed demanding guidelines past end assemblage.
"There was a delegacy from lifespan insurers imperative on the poorness for expanding the arrange of unit-linked pension products," an I ... Tags:Life Insurance, ULIPs, ICICI Prudential, Pension Plan
Sbi Life-smart Elite Ulip Graph Most Experienced By: Bimadeals | - SBI Life-Smart Elite is a unit-linked life insurance plan crafted exclusively for high net worth individuals. The plan is no different from other Ulips offered by SBI Life except that it has a high premium bracket starting from Rs 1,50,000. It offers two protection options. Under the Gold option, the diagram provides a choice of higher of sum assured or fund value on unfortunate events.
Conventional Life Insurance Or Ulips? By: Bimadeals | - What are traditional life insurance plans? Why should I buy a traditional plan? How will I benefit from it? And how is it relevant in todays environment? How are these different from the more popular ULIPs?
These are some of the questions you would generally ask before making a purchase decision.
Traditional insurance plans, which include term, donation and whole life policies, offer multiple benefits in terms of risk cover, return, safety and tax benefit. Traditiona ... Tags:Life Insurance, Life Insurance Plans, Life Insurance Company
Irda May Let Insurers Spend In Gold And Etfs By: Bimadeals | - The Insurance Regulatory and Development Authority (Irda) is vetting a proposal to allow life insurance companies to spend in gold and exchange-traded funds, or ETFs. The move will provide greater flexibility to local insurers to invest in various asset classes.
A senior Irda official said the regulator is weighing the two options. "We may allow insurance companies to invest in gold and equity ETFs with a cap of 5-10%. There are proposals from various companies to let them invest in ... Tags:Insurance, Ulips, Life Insurance Companies, Life Insurance
Life Insurance Ipo A Distant Vision By: Bimadeals | - Domestic life insurance firms are in no hurry to hit the market with their initial public offerings (IPOs) even if the manager announces the guidelines now, according to a research report by HSBC.
According to the report, the hitches such as limits on foreign direct venture, a 10-year track record and the absence of IPO guidelines that have prevented floats by domestic life insurers will be removed this year.
Insurance Companies Valuation Face Relegates By: Bimadeals | - Analysts are downgrading valuations of insurance companies which are facing lower margins in the new regulatory system.
Analysts opine it is difficult to predict persistency in new Ulips (unit-linked insurance plans) as the reduced commissions have failed to enthuse the distributors.
Also, factors such as the unclear product approach and reduction in branches and employees could impact the long-term franchises, analysts say.
Ulips To Get Costlier With Raise In Service Tax By: Bimadeals | - The proposed raise in the service tax on life insurance products will make both traditional and unit-linked insurance plans, or Ulips, more expensive. The industry expects the costs to go up by 50-75 basis points (one bps = 0.01%).
Although companies are yet to figure out the collision of the proposed increase, most insurance executives said premiums may go up by as much as 75 basis points.
Take Benefit Of Investment Avenues With Variable Life Insurance Plan By: Bimadeals | - A variable life insurance plan (VLIP) combines investment and insurance, just like a unit-linked insurance plan (ULIP). Variable life insurance schemes offer flexibility in the ratio of mortality and savings components.
These plans also offer more clearness, simplicity, quick liquidity, guaranteed minimum returns, transparent charges and ample risk cover. This type of life insurance allows you to contribute in several investment options simultaneously targeting your premiums to sepa ... Tags:Insurance, Life Insurance, ULIPs
How To Select Right Ulip By: vishal | - ULIPs are the most miss sold products in the Personal Finance domain. ULIP plans are revolutions for those who are looking for insurance and assured return on their insurance investments. These insurance products along with assured tax returns are also linked with tax benefits. The assured return on insurance investments has impressed many investors.
In the conventional Insurance products, the insurance component takes edge over the saving component, but in ULIPs insurance cover is ... Tags:ULIPs, selecting insurance, Insurance planning
Traditional Life Insurance Products To Come Under The Scanner By: Policy Tiger | - Life Insurance companies have been hit hard by the cap on charges that IRDA has mandated on ULIPs.. Come Sep 1, the surrender charges, administration charges and the commission that Life Insurance companies pay on ULIPs will come down substantially. While this is good for the consumer, the worry is that in the short term, it might become unattractive for the distribution channels, and thus fewer people might have access to life insurance. The percentage share of ULIPs as a part of the overall bu ... Tags:Life Insurance Products, India
Ulip - Merits And Demerits By: Sanjay Mathew | - Unit Linked Insurance Plan (ULIP) is a fusion of insurance and investment. In ULIPs, part of the premium payment goes towards the sum assured (amount received at maturity in a life insurance policy) and the remaining is invested in your desired portfolio - equity, debt or a mixture of both, depending upon your risk appetite. The investment portion in ULIP is represented as units and is denoted as the Net Asset Value (NAV).
Do's for investing in ULIPs:
Returns: Compare returns off ... Tags:life insurance India, financial investment planning, ulip, pension scheme, pension plan, insurance policy, child education, life insurance, financial
Life Insurance Policies Might Get Cheaper: Reduced Mortality Charges By: Policy Tiger | - Typically, a life insurance policy has two components- protection and savings/investments. IRDA , through their latest guidelines on ULIPs have ensured that the various charges on the savings/investment component of the life insurance policy will become cheaper. But now, a further change is on its way which will benefit policyholders- the mortality charge , ie the premium that a person pays for the life cover- might also reduce.
Irda To Limit Reduction In Give Up On Ulips From 6th Year Onwards By: Bimadeals | - Policy holders of Unit Linked Insurance Plans (ULIPs), who wish to pre-maturely withdraw, can now be glad as their investment will soon have some protection.
The Insurance Regulatory and Development Authority (IRDA) are planning to limit cut in yield from the 6th year (of the policy) beyond, according to reliable sources.
Earlier, the cap was applicable only at the time of development. If anybody pre-surrenders their policy, the return on the investment is dependent on the discretion ... Tags:ULIPs, Insurance Policy
Think Wisely About Your Retirement By: Bimadeals | - We all dream of a beautiful life after retirement but the question is - Are we properly planning for it? The answer is - NO.
To make our retired life self dependent and beautiful, we all have to start saving as early as we can. Retirement does not mean passing time at Haridwar or lazing around on a beach with nothing on your mind but to be able to sustain living with returns but without really working for it (as we have already planned, worked and saved). We have to even think about ... Tags:Retirement Plan, Retirement Calculator, ULIPs, ULIP Plan
Ulips Free Of Cover Charge After April 2011 By: Bimadeals | - Consumers buying pure life insurance products will have to continue paying commission to sellers of these policies. But, those who invest in unit-linked insurance plans (Ulips) will be free from this commission from April 2011.
The High-Level Committee on Financial Matters (HLCFM), the forum for financial sector regulators, will pave way for a load free regime on most financial products after April 1, 2011. Loads are charges which investors have to bear while buying or selling financial pr ... Tags:ULIP, Life Insurance, Term Plan, Term Insurance, Insurance C
Understand Unit Linked Plan (ulip By: Bimadeals | - In last few years Ulip is more popular among individuals rather than a term plan or an endowment plan. The people who have chosen term or endowment plan are switching to Ulip"s. But do we really know ulip"s?????
Or we are going with the crowd"""""
Before going for Ulip, one should understand its features and should judge accordingly. Whether these were the features that you were looking in your insurance plan??
Let us understand Ulip fi ... Tags:Ulips, Ulip, Ulip plan, Ulips plan, Ulips plan
Switching Your Funds In Ulip's By: Bimadeals | - While investing in an ULIP scheme you have an option of switching from an equity fund to a debt fund that too without paying a fee. In the stock market one would switch their funds or stocks according to the market conditions to earn profits. But they make a very calculated move. In an ULIP scheme since it is a mix of an investment and insurance portfolio before switching one should be very sure. Switching would mean interfering with your insurance cover. So before doing so make sure its ... Tags:Ulip, ulip plan, ulip plan india, ulips, Life insurance poli
Insurance Plans By: Bimadeals | - An insurance policy can help you save tax. Knowing this an individual lands up buying insurance policies for only the tax benefits. But there is more to it than just the tax benefit. An insurance policy is mainly designed to cover the financial loss in case of the death of the policyholder and to insure your life. In case you are availing of a policy make sure you do it for the right reasons. One should first check your needs and all the plans available in the market before buying a policy. Tags:Insurance Policy, Pension Plan, ULIPs plan, Insurance plan
Children Plans By: Bimadeals | - As a parent, you are always on the watch to secure your child"'""s future. Investing for their future needs and requirements becomes your topmost priority. One of the best options to invest is in Insurance policies. As they give you both insurance cover and investment benefit. There are also policies designed specially for children. So, before you invest one should assess the policy you need to take. The children plans are similar to the regular endowment or ULIP plans.
Ulips And Life Insurance By: heenu | - ULIPS is new the new golden hen in the insurance industry. A hen which gives golden eggs till its cut down. ULIPs in their forms, present an idealistic way of investing money and to reap good profits. Although, these do not promise substantial benefits every year, but when they give returns, they are generally better than a normal fixed deposit.
Ulips - Insurance Plans Good For Those Who Love To Take Risks By: heenu | - Are you a business man or are you the one who draws his salary in lakhs? If you are one of these and have a inclination towards stock exchange then there can be nothing better than a ULIP Plan.
ULIP plans give an investment opportunity by providing a choice of thoroughly researched and selected investments. These offer freedom from tracking the market, with the added option of choosing the asset allocation on your own.
Ulips A Spice Added In Life Insurance Policies By: heenu | - How many of us have heard the name of ULIPs? To be frank, only 50% of the people investing in Insurance Plans seem to be interested in this name. Why? lack of information, most probably.
Most of us, who classify ourselves who define ourselves as working class believe in the taking a life insurance policy within a couple of working years. But, just like hard core buyers we still believe in Money back or Guaranteed Returns Policy. We fear to plunge in the so called Stock Exchange ... Tags:life protection plans, protection plans, unit linked insuran
Much Safer And Secure Than Money Back Or Cash Back Ulips? By: heenu | - Insurance today is not just the market trend; its the requirement of the day. For an individual who is working daily to meet the two ends and the demands of his family, is equally responsible for a comfortable life after his death or when he is not in a position to carry out his duties.
When Insurance inculcated itself in the Indian Market, it focused on insurance plans which gave a assured return- those which were secure in terms where the money (premium) was being put ... Tags:life protection plans, protection plans, ulips, ULIP
Ulips Help Life Insurance Industry Grow By: Sofia Abasolo | - The life insurance industry has been growing at a steady pace over the last few years. A low 2.6% contribution to the GDP figure in 2006 it rose to 3.26% and 4.09% in 2006 and 2007, respectively. The biggest propeller of this growth has been the unit-linked insurance plans (Ulips) which have, according to some estimates, accounted for nearly 90% of the new business being generated by life insurers.
The finance Bill 2008-09 has brought the management of Ulips of life insurance com ... Tags:Life Insurance
