Lets Make a Brighter Future and Opt for a Life Insurance Investment Plan


Life Insurance in India is understated due to the lack of awareness and importance, apart from not making it mandatory for every citizen to have a life cover/protection. But due to the trending times, the IRDAI regulations in 2010 made significant changes to make life insurance more appealing to the citizens of India. Let’s have a close look at one such Life Insurance Plan from Edelweiss Tokio Life which will inspire you to think and opt for a Life Insurance if you haven’t taken one yet.
Edelweiss Tokio Life Wealth Plus Plan, which was recently launched in the Indian market, is significantly more than just a Life Insurance plan. It not only covers life but also makes your premium work by investing into Equity and Bond Funds respectively according to the risk appetite which is calculated considering the age and no of years of insurance plan.
Some of the key features of this Edelweiss Tokio Life Wealth Plus Plan are:
1) Allocation of Premium to Equity and Bond funds, which works as a ULIP, so it takes cares of premium as investment and Iife insurance in one Plan.
2) Extra Allocation of Funds: If the Premium is paid on time and within the Grace Period, then from the 1st year to the 5th Year, 1% of Annualised Premium is added to funds and it grows along with 3% in the coming 6th to 10th year of policy, 5% from 11th to 15th year, and 7% from 16th to 20th year of the policy, which is a very robust module of Life Insurance I have come across.
3) Maturity Benefits and Settlement options: At the maturity of the policy, one has the option of gradually getting paid through instalments monthly, quarterly, half-yearly and yearly. This facility can be availed for a period of 1 to 5 years or even on lump sum, whatever is suited. Premium Boosted will be available at the time of settlement, whichever you choose. In case of death of the Life Insured during the Settlement Term, balance Fund Value is payable to the nominee/ legal heir.
4) Partial Withdrawals: Partial withdrawal is available after the 5th year of the policy. Minimum amount withdrawal is 500, and there are no charges on partial withdrawal even if it’s multiple times.

Some additional flexible advantages of Edelweiss Tokio Life Wealth Plus Plan are:

1. Flexibility of Premium Paying Term: At any point of time, you can decide and increase or decrease your premium paying term subject to it is allowed in the plan, other conditions are met in the plan, and previous premiums that are due have been paid.
2. Unlimited Switches: If you have selected to self-manage your premium fund allocation, you can avail the ‘switch option according to your financial priority’ without any extra cost. The minimum amount per switch is Rs. 5000.
3. Unlimited Opt-in and Opt-out Option between Investment Strategies: If you have chosen the Life Stage & Duration based Strategy, you have an option to opt-in or opt-out of it at any point of time during the Policy Term. You may choose the Self-Managed Strategy by opting out of the Life Stage & Duration based Strategy at any point of time during the Policy Term.
4. Unlimited Premium Redirection: If you have chosen Self-Managed Strategy, you can choose to allocate future premiums including Top-up Premiums in fund(s) different from that/those selected at policy inception or previous premium redirection request. This facility is called premium redirection and is available free of cost.
5. Partial Withdrawals: You may withdraw a part of your Fund Value as per your liquidity requirements at any time after the completion of the fifth Policy Anniversary, subject to following conditions:
a. The Life Insured has attained the age of 18 years.
b. Partial Withdrawals will be first adjusted from the Top-Up Fund Value (which excludes the Top-Up Premium locked in for 5 years), if available, and then from the Policy Fund Value.
c. There is a lock-in period of five years for each top up premium from the date of payment of that top up premium for the purpose of partial withdrawals.
d. Minimum amount that can be withdrawn is Rs. 500 per withdrawal.
e. You can make unlimited number of partial withdrawals as long as the resultant Fund Value after payment of such partial withdrawal is greater than or equal to 105% of total premiums paid (including Top-up Premiums).
f. The partial withdrawals will not be allowed which would result in termination of a contract.
g. The partial withdrawals are free of cost.
6. Top-up premiums: You can invest your surplus money as Top-up Premium over and above the Premium subject to following conditions:
a. Top-up premiums are allowed at any time during the policy term, except in the last five years prior to the maturity date and only if all the due premiums have been paid at the time of making the top-up premiums.
b. Each Top-up premium will be invested in separate Top-up account with a 60 months’ lock-in period from the payment date except in case of complete withdrawal.
c. At any point of time during the Policy Term, the total top-up premiums paid shall not exceed the sum total of the base premiums paid to date.
Life and health insurance policy concept idea. Finance and insur
Rising Star Benefits
Following benefits are paid on the death of the parent (policy holder):
• Lump sum amount (based on age of policy holder at policy inception) becomes payable immediately
• Sum of all the future premiums shall be credited to the Fund Value
• All future premiums will be waived off
• Additional allocation will be added to the Fund Value as and when due
• As age of the life insured increases and the remaining policy term reduces, this strategy ensures money is moved automatically from riskier fund to safer fund progressively

This is one of the most significant Life Insurance plans that I have come across, with a lot of added benefits and flexibility. Moreover, it also works as an investment proposition, and everything can be handled in a single plan. All the above benefits make it much better investment option than a mutual Fund. Life Insurance in India has seen a lot of traction due to multifaceted plans by a company like Edelweiss Tokio Life, which help bridge the gap between securing lives.

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Life Protection with investment benefits by Bajaj Allianz Life Insurance


The long wait is finally over! Oh Wait, do check my previous post on the per-launch of Bajaj Allianz Life Insurance Company’s new product, to know what I am talking about, as promised it has been a week and I am here to take  you through the most anticipated Life Insurance cum Invest plan – Bajaj Allianz Life Future Wealth Gain.

So, to explain you in a nutshell, this plan offers Life Insurance cover and growth opportunity to #InvestBefikar in  2 Investment portfolio strategies, .

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Now that you know a brief about Bajaj Allianz Life Future Wealth Gain plan, let me share some of the in-depth features and benefits for your better understanding.

  • This is a ULIP (Unit Linked Insurance Plan) in which you can choose from a combination of how many years you want your policy and the premium payment terms, you can pay your premium as per your convenience i.e. monthly, quarterly or half yearly or yearly.
  • income benefit
  • If the death or the first diagnosis of cancer (subject to waiting period**) occurs during the premium payment term, then, an additional benefit as Income Benefit will be payable.
  • The Income Benefit is equal to the total of all the regular premiums due under the policy after the date of death or diagnosis of cancer, as applicable.
  • Each installment of the Income Benefit is equal to one regular premium.
  • In case of death/first diagnosis of cancer, it is payable to the nominee/policyholder at each premium due date for the remaining period of the premium payment term.
  • The first installment is payable on the first premium due date after the date of death or diagnosis of cancer, as applicable.
  • Income Benefit will be payable if the policy is in force, excluding paid-ups
  • Income Benefit will not be payable in case of a discontinued or paid-up policy
  • If death of the life assured occurs after claim has been paid for cancer and income benefit being triggered, no additional benefit will be payable on death and outstanding income benefits (if any) will be paid to the nominee.
  • Income Benefit is not payable if the death or the first diagnosis of cancer occurs after the premium payment term.
  • loyalty additions
  • The Company shall allocate Loyalty Additions to the Regular Premium Fund Value as percentage of one Annualized the Premium at the end of every 5 policy year starting from the 10 policy year, provided all due regular premiums have been paid up to date
  • In case the premium(s) are un-paid and the policy is revived during the revival period by paying all due premiums, the Loyalty Additions due-but-not-allotted during the period the Policy was in
  • Discontinuance will be added to the fund as on the date of revival.
  • Amount of Loyalty Additions will be allocated in funds in the same proportion of the Fund Value as at the date of addition.
  • There will not be any Loyalty Additions for Top-up premium paid. Loyalty Additions will not be paid for a Discontinued / Paid-up policy.
  • fund booster – Fund Booster will be added to the Regular Premium Fund Value at maturity, provided all due regular premiums have been paid up to the date of the allocation of Fund Booster. There will not be any Fund Booster for Top-up premium paid. Fund Booster will not be paid for a Lapsed / Paid-up / Discontinued policy.
  1. a) Investor Selectable Portfolio Strategy: In this you can invest your premium as per your convenience and market knowledge into the given 8 Funds to choose from by Bajaj Allianz Life

Or

  1. b) Wheel of Life Portfolio strategy: In which the premiums would be invested into 5 funds, the ratio changes as per years to maturity.
  • These are the 8 Investment Portfolio in which the funds or premium can be allocated:
  • Flexibility of changing the premium payment frequency or additional fund is a bonus, so #InvestBefikar.
  • Some detailed features of death benefits are:
    • If death of the life assured occurs before attaining age 60 years, then, the sum assured shall be reduced to the extent of the partial withdrawals made from the regular premium fund during the two year period immediately preceding the death of the life assured.
    • If death of the life assured occurs on or after attaining age 60 years, then, the sum assured shall be reduced to the extent of the partial withdrawals made from the regular premium fund during the two year period before attaining age 60 and all the partial withdrawals made from the regular premium fund after attaining age 60.
  • Maturity benefit: On reaching Maturity of the plan, you can avail the funds as a lum-sum or over a period of time through installment payment, which is again a value addition.
  • Tax Benefits: All the premiums are exempted from Taxes under the section 80C till a certain limit and is subject to change with current tax laws. The death benefit or the maturity benefit received would also be tax exempt under Section 10(10D) of the Income Tax Act.

Additional Benefits of Bajaj Allianz Future Wealth Gain Plan

  • Riders – There are few riders available with the plan which can be added to the base policy. The riders include:
  • Bajaj Allianz ULIP Accidental Death Benefit Rider
  • Bajaj Allianz ULIP Accidental Permanent Total/Partial Disability Benefit Rider
  • Bajaj Allianz ULIP Waiver of Premium Benefit Rider

Additional Premium: A top up to premium is available except the last 5 years of the policy, minimum being INR 5000.00

Switch: You can make unlimited switches with the minimum value of INR 5000.00

Additional Period: You get an additional time bracket of 15 days for monthly and quarterly and 30 days annually to pay premium if dates are missed.

Free Look Period: A review period of 15 days is given if you are not satisfied with the policy’s term and condition or other parameter you can cancel in the given period, which just shows how transparent the policy is.

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All in all, this is a fantastic plan by #BajajAllianzLifeInsurance for anyone who is seeking out for an Life insurance plan, a well fabricated plan which helps the premium grow and give a greater value for money in addition to the conventional Life Insurance, including all the benefits added this plan is tempting enough to put your money work wisely and #JiyoBefikar.

Mutual Fund Day – Save Right for Growth


Why Not Mutual Funds?

Investing in Mutual Funds is considered risky due to the volatile nature of Market; this is a general perception of most of us Indians, as we always tend to root for investment in the form of Fix Deposits, Real Estate or Gold. If we open the fact sheets, over the years merely 2% to 3% of the India’s income class invest in Mutual Funds, which show that there is immense scope to reach out to the remaining 97% of Indian to educate on investing in Mutual Funds and taking benefits by earning a consistent long term income on their savings.

Typical Myths surrounding Mutual Fund Investment

# Mutual Fund Investment is only for people who know the market well

# Mutual Fund Investment requires a lot of paper work, separate account and it’s a tedious job to check up on the market to safe guard funds from occurring heavy loss.

# Mutual Fund Investment doesn’t allow flexibility in term of exit load

# Mutual Fund Investment requires investing large sum of Money to yield desired profits

# Mutual Fund Investment doesn’t clock the desired return on investment as compared to conventional investment in Gold, Real Estate or FD.

On Breaking Conventional Myths on Mutual Fund Investment and Educating  the Benefits

Have you heard of Mutual Fund Day? If not, here is good news for you.

An Initiative – Mutual Fund Day by Reliance Mutual Fund – 7th Day of the Month

Reliance Mutual Fund with CNBC Awaaz has taken up an initiative to dedicate 7th Day of every month to invest in Mutual Funds, this initiative is to encourage the Indian income class to regularly invest in Mutual Funds and help generate inflation beating returns.

There are many programs, seminars simultaneously running across India to educate people on Mutual Fund Investment and benefits of systematic monthly investment of saving at the cost of a better rate of income compared to conventional investment schemes such as gold, FD or Real Estate.

As a result of this initiative and the early observations by Reliance Mutual Fund there have been many folios opened and this is definitely the result of awareness the campaign is creating.

Take Pledge to Educate and Help your Friends Money Grow – Know How

Now that you must be aware by now why mutual fund investment is a healthy way to grow money, why not take an initiative and grow together with your friend? Interesting isn’t it!

A Facebook app developed by Reliance Mutual Fund, #FundForAFriend quiz asks you some questions about your friend’s different aspect of life. According to the answers selected by you, it advices which type of Mutual Fund to invest in considering their age, risk appetite and other parameters. The facebook app is fun, free and is a must try if you consider yourself to help your friend.

Here is the Link to FUND FOR A FRIEND facebook page

Are you looking for a Life Cover and Investment Plan Combo?


Life is a never-ending cycle of events, some events that bring smiles on our face and others just keep us worried. Worries may somewhere also be linked to our ability to not gauge certain situations in life, those uncertainties in life when they are linked to funds which you are not capable to earn after your retirement or maybe to support your family when you are dead!

We are living in an era where everything is on our fingertips, that is what innovative technology has given to us – the convenience to control. Talking about innovative technology and control, wouldn’t it be fantastic if we could control our investments and take care of ourselves and our family’s future with an insurance plan at our convenience and minimal hassle-free process in an all-in-one plan? Let me give you a brief explanation of what I am talking about.

Bajaj Allianz Life Insurance

Let me tell you about a proposed combination where you can invest and give yourself and your family financial protection after your death or your retirement. Sounds too good to be true, isn’t it? A perfect scheme for anyone who is looking to #InvestBefikar and grow his / her money and wants life cover / insurance.

Benefits of Investment cum Life Insurance Plan:

  • It lets your money grow while securing you as well
  • Paying one premium for protection and investment

Want to know more?

Well, Bajaj Allianz Life Insurance has been cooking up just the right combination of dual benefit plan of investment and life protection for a #JiyoBefikar life, the need of making your money grow while you pay the life insurance premium, just the right mix of pleasure for a hassle free, all-in-one plan. I have a lot more to talk about this unique customised plan in my next blog post, so kindly stay tuned till next week for more detailed look at the Bajaj Allianz Life Insurance new offering in the form of Investment cum Life Insurance plan, I am excited to share the details with you and know about your queries and questions in the comments sections below.

Bajaj Allianz Life Insurance dual benefit investment cum Insurance plan is scheduled to launch on 22nd June 2017, stay updated with our blogpost feed to get more updates about the launch and details.

If you wish to, you can check the updates and engage on the brand’s Twitter Handle @BajajAllianzLIC. You can also follow the brand on Facebook for more updates about the product.

 

 

 

Mutual Fund Investment Made Simple with Edelweiss Guided Portfolio


Life is constantly moving at a very fast pace and there is limited time for anything considering the options we are spoiled with, for instance question commonly hovering over our head whenever we sit to decide on something would be what to choose? Where to choose? How to choose? What would be the best option that would yield optimum returns? The never-ending quest to get the best sometimes takes a toll and we end up making haste decisions.

So, why am I discussing all this? Ok, let me reveal the suspense of the topic, I am talking about mutual funds investment, though I have been speaking about it quite often these days on my blog, still I strive to provide you with the best I can from the market updates.  Recently in this quest to find some information about investing in Mutual Funds, I came across Edelweiss GPS through a recommendation of a JAFX ECN broker friend. Now you may ask me what is Edelweiss GPS? Edelweiss Guided Portfolio Service is an algorithm based intelligent system which designs mutual fund portfolios for investors and guides them towards their financial goals through systematic investments, you may ask me why am I highlighting a specific service provider to showcase right? But I would be happy to let you know that once I take you through the sheer features of Edelweiss GPS even you would want to start talking about it, well this is what I feel.

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Design: The Edelweiss Guided Portfolio online page will simply surprise you with the simplicity of the design which is clean, cluster free and pop up free, which lets you focus on the features of the website and allows you to better understand the complexity which is well disguised within their online page design.

Features:

e-KYC: KYC document requirements are always a task, with multiples forms and signatures and photos and what not, but wait, if you happen to have a Aadhar card that is all you need to open an account with the Edelweiss Guided Portfolio, hassle free within second registration.

Investing made simple: “I want to invest —– Rs. I’m —- years old, and prefer select a risk profile” like does it get any simpler then this? Once you fill this quick form, the backend algorithm calculates your preferred risk and show you mutual fund portfolios accordingly.

Simplicity in diversity: The dashboard is a prominent feature of the Edelweiss Guided Portfolio, which is very minimalistic in design, though the details of mutual funds invested in and market watch feature are a commendable achievement they have managed to sync in.

DATA: We all love data, we want well researched data guiding us through the market hic ups or providing details about emerging trends in mutual funds or even indicating any recent updates on where to invest, this is well taken care of in their research page with blog post across different market trends and updates, a must check feature.

I can go on and on with the features, but I want you all to discover the features all by yourself and indulge in some cluster free, highly informative and systematic mutual fund investment and let your money grow multi folds.