Turning Life Goals into reality with Proper Planning


We as individuals are always seeking to find solace in whatever we do, and how do we find that solace? Well, we often find it when we are sure about it. Now, being sure about something comes after a lot research, thought and planning. Why do we plan things? It’s obvious that we plan things so that we can do that allocated work in a systematic way so that we reach towards finishing it in a planned manner.

Now, you might be thinking by now, why am I talking about planning and being systematic in the above paragraph and what is the relation? Well, this is just to illustrate a broader point of view which many of use ignore while we execute many things in our life, what is that? That is preparing and being goal oriented.

People often live life as it comes and don’t bother planning for their future, why? Because many from us believe that we are earning enough to suffice our needs and wants and we shall be continuing with this pace beating the inflation with constant growth in our respective field of profession or business. But, does this mindset help? Not really!

We only have one life, and in this life we are keen to achieve our goals. Many of us set goals for a better lifestyle, to own new car / new lavish house, earn lot of money or even to have a startup which you always dreamt of to start one day.

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Being goal oriented with your investment is possibly the most significant way to reach the goals mentioned in the above paragraph, you may ask why? Because a goal  which is set for a specific period of time shall require an investment which grows overtime as years passes by and once the amount reaches its maturity you can avail the sum of amount to fulfill your #lifegoals may it be short or long term.

Talking about goal oriented investment and its significance, I was part of an event conducted by Bajaj Allainz Life Insurance at St Regis, Mumbai on 8th of January, the event showcased an emphasis on why being goal oriented investment can be beneficial in achieving #lifegoals for both short and long term by #investbefikar schemes, and what measures can be taken in terms of right age to invest and systematic planning towards achieving the life goals.

Lot more in details about the Bajaj Allianz Life Insurance plans related to goal oriented investment, stay tuned in the coming days as I shall be sharing the detailed review about the goal oriented investment plans from Bajaj Allianz Life Insurance and let you guys know the significance it might make in your #lifegoals.

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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.

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.

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.

 

 

 

Be Wise While Choosing Your Insurance Plan


Lately I have been talking about life insurance and mutual fund investments on my blog, my endeavour is to keep updating on the latest and most prominent information possible in the space of finance, investment and Insurance  to my knowledge of understanding, the purpose is to guide you accordingly to invest wisely or choose an Insurance plan.

Few days ago, I was discussing with my friends on life insurance rates and plans which are more than just conventional Life Insurance plan that could take care of investment as well with a decent return, while discussing one of my friend spoke about Edelweiss  Tokio  Insurance plans which are very beneficial when it comes to a combination of multifaceted Insurance cum Investment plan with added benefits.

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After knowing about the summary from my friend, I did a bit of research, here are the details of the Plan offered by –  Edelweiss Tokio Life, basically there are 3 Plans, which I shall be talking about :

  1. Wealth Ultima – ULIP (Unit Link Insurance Plan)
  2. GCAP (Guaranteed Return Plan)
  3. TotalSecure + (Comprehensive protection plan)

1 ) Wealth Ultima – ULIP (Unit Link Insurance Plan)

Firstly let’s talk about Wealth Ultima, This plan has 3 benefits a trio you can say, which are :

1.  SMP – Wealth accumulation

  • You can avail the option of paying your premium systematically on monthly basis, which allows you to safeguard from market fluctuations.
  • Tax Free Investment

2. STP – Wealth Preservation

In this there are few options available according to your appetite of risk:

  • Life Stage & duration based STP
  • Profit target based STP
  • Self Managed options are also available

3. Wealth Utilization :

  • Once the policy has completed 10 years , the policy holder can avail options to choose from like lumpsum amount or a set monthly installments -according to the years fixed, working as a pension plan after retirement.
  • Works as second income
  • The amount withdrawal would be Tax Free (so that’s again an added benefit)

A) Some other added benefits of this Wealth Ultima are:

  • Additions to the fund:
    • Loyalty Additions
    • Guaranteed Additions
    • Booster Additions
  • Little Champ Benefit:
    • In case of payer’s death, PV of future premiums will be funded by the Company.
    • Remaining benefits will continue as is
  • You can also change your preference of increasing or decreasing of PPT (Premium Paying Term)

2) GCAP (Guaranteed Return Plan)

The GCAP Plan insures that you get sure static return irrespective of the market behaviour, sounds tempting isn’t it.  This is a break though Plan by – Edelweiss Tokio, which is quite beneficial for people who want static return and do want to any risk involve in their investment.

Depending upon the no of years for which the plan are selected like 10, 20 or 30 years, the returns are subject to change accordingly marginally.

Listing few other rider  benefits which can be added with this plan:

  • Cover against accidents at small amounts of extra premium
  • Policy continues while eliminating the burden of premium payment in case of death, disease or disability
  • Provides income replacement to the family in your absence
  • Provides income replacement to family in incidence of critical illness

Optional with this GCAP Plan, which you can choose:

  • PWB (Payer waiver Benefit) which allows to help your child’s future, so even in your absence your child continues to enjoy the policy’s benefit without worrying about paying premium.

3) Total Secure+

TotalSecure+ is a comprehensive protection plan – Which means this is a Life Insurance with added features of choosing between Basic health cover (which covers 7 Critical Illness) and Comprehensive health cover (which covers 35 Critical Illness) so it works as a combo.

For instance if you take a life cover of 2 crores, you can choose – a Critical Illness plan of up to 1 Cr and avail the benefits.

The Premium amount will vary according to the Basic Health Cover and Comprehensive Health Cover plans.

TotalSecure+ gives you the facility to choose how to receive your benefits by providing 3 options:

LUMSUM: Takes care of immediate requirements

Monthly: Acts as income replacement by taking care of monthly expense

Combo: Takes care of immediate requirements as well as monthly

Under monthly mode, customer has option to receive monthly income for:
– 36 months – 60 months – 120 months – 180 months
Further, monthly income can be:
• Level (same monthly income for chosen period), or
• Increasing (@5% per annum compounding)