PRESENT CONTENT(EFFECTIVE TILL DEC.2013) IN THIS SITE WILL BE REPLACED WITH THE CONTENTS OF NEW PLANS (REVISED FROM JAN-2014) DETAILS IN ALL PAGES AS SOON AS WE GET THE FULL DETAILS FROM LIC OF INIDIA
*** SAVINGS & INSURANCE NEED OF THE HOUR ***
AS WE ALL KNOW THAT WORLD ECONOMY IS IN VERY BAD SHAPE & ONLY INDIA IS LITTLE BIT BETTER OFF. THE MAIN REASON BEING EACH & EVERY ONE OF THE INDIAN FAMILY HAS THE STRONG ATTITUDE TO SAVE FOR FUTURE. THOUGH INDIANS ARE BETTER OFF IN SAVINGS, THEY HAVE NOT REALISED THE IMPORTANCE OF SELECTING INSURANCE AS ONE OF THE IR MODE OF SAVING.
EACH & EVERY ONE OF US EARN NOT ONLY FOR TODAY BUT ALSO FOR FUTURE. SINCE FUTURE IS UNPREDICTABLE AND THE PATH FOR FUTURE HAS LOT OF RISKS, INSPITE OF THE RETURN ON INVESTMENT (ROI) IS LESS THAN THE OTHER INVESTMENT, TO COVER THE LOSS DUE TO RISK ONE SHOULD OPT INSURANCE.
Life is unplanned
Life in Current Trend for each one of us very Mechanical & one has to move very fast if they want to be recognized in the society. It is very difficult to find time to plan for their future.
Life is always filled with risk. To safegaurd our future life from unpredictable risk we need to plan & balance our investment in life insurance in right proportion. Reserch says that 25% to 30% of our savings should be in Life insurance. Also interesting thing is that only 20-25 % of our population has invested in insurance
Growth + Risk Coverage
Savings for the family after the insurer's life ends
In case of Death before the policy term
Natural Death : Full Sum Assured without further Premium paid in almost all cases
Accidental Death : Double the sum Assured without further premium paid in almost all cases.
Example: Policy amt. Rs.500000 Annual premium Rs.24000. If Natural Death Occurs after the first premium the nominee will get the policy amount of Rs.500000+Accrued Bonus & If Accidental Death Double the Sum Assured i.e Rs.1000000 will be paid
In this case If Natural Death:
Investment - Rs.24000
Return : Rs.500000
Net Gain : Rs.476000
In Case of Accidental Death :
Investment - Rs. 24000
Return : Rs.1000000+Bonus
Net Gain : Rs. 976000+Bonus
Savings for the period till one is alive
In case Bank investment for Natural as well as Accidental Death before the investment period completes, one will get investment + Bank interest for the period. In case of Shares / MF it will be based on Market rate which may give lesser return than his ivestment amount
Example:Invested Rs.24000 as FD deposit @10% . If investor expires after the first year payment the investor will get invested amount + 10%. NAV for respective MF / Share 10000 units he has held comes down to Rs. 15 per unit from Rs.20 per unit
in this case of Both Natural & Accidental death his
Investment - Rs.24000
Return : Rs.26400
Net Gain : Rs.2400
Share/MF Pruchase Value : Rs.200000
Return at the time of Death : Rs.150000
Net Loss : Rs.50000