Alerts! LIC To Their Policy-Holder

There are billions of people in India who have taken Life Insurance from Life Insurance Corporation of India. People have strong faith on this Corporation. So, there are lot of fraud/cheating happen with LIC policyholder by some cheater. Hence Corporation guides/ alert their policy holder in time to time about these kinds of frauds and ask to be safe with advisory.

This advisory is for all those policy holder who have any kind of policy taken from Corporation or willing to have in future.

1. Corporation always suggest to get register & enroll their policy on their portal www.licindia.in to check status with other information and pay premium online.

2. If you are paying premium thru cheques then issue infavour of "Life Insurance Corporation of India" and make it "Account Payee Only" by drawing two parallel line on top left corner or  above cheques number bar. Do not issue your cheque in other name to pay your LIC premium.

3. Before signing policy document you should read the form properly. Don't sign it in hurry. This will    keep you safe in future.

4. Do not hand over your Original Policy documents to any agent or person. Corporation do not authorise any person to collect Original Policy Document.

5. Beware ! from fictitious offers thru phone calls. It does not guarantee that if any unknown person saying that they calling from LIC then they must be from LIC. Do not entertain online policy payment on their suggestion. Check and be confirm before doing this.

6. Corporation never calls for Bonus or its due installments. They did not hire any recovery agent for collecting this.

7. LIC advice you always your net banking to pay premium thru its web portal.

For any other info please call us at :: 9958781151.

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Register and Get Facility with LIC eService Portal

LIC has comes up with some new features with Lic’s e-service. You can register your policies at LIC portal with some simple steps and save lots of time.

Lic’s e-service is an initiative is to provide you with on demand service within a few clicks! You can now have many of the functionalities that were available only at branch office, Now it will be online at your fingertips. To avail this facility you have to get register as customer on LIC portal.

How to get Register on LIC Portal:

First you have to visit www.licindia.in  , click on the tab “New User “ , select your own USER ID & Password and provide all the other necessary information . Now you are a registered customer portal user.

LIC’s e-services portal for customers has come up with a lot of new facilities. Now if you register you can avail the following benefits: 

1.  Online Payment Facilities:

This facility provided to pay renewal premium dues, payment, repayment and loan interest due of loan through net banking, debit card, credit card, BHIM, UPI

2.   POLICY Schedule:

First page of policy bond which constitutes policy schedule will be displayed.

3.   Policy Status :

Basic detail of policy will be displayed such as plan, term, sum assured, date of commencement, first unpaid premium etc.

4.  Bonus Status :

     Total bonus accumulated under the policy will be displayed.

5.  Loan Status :

Present loan position will be displayed such as total loan outstanding under the policy, due up to which loan interest paid etc.

6.  Claim Status:

This option will display date of survival benefit (if any) or maturity benefit due under the policy during the policy term.

7.  Revival Quotation:

Revival quotation will be provided in case of lapse  policies.

8.  Premium Due Calendar:

Detail of premium due during the year (month wise) will be displayed.

9.  Premium Paid Certificate:

Individual policy – it provides history of premium paid under a single policy during the financial year.

Consolidated – it provides history of premium paid under all the registered own life policies of the user.

10. Claim History:

 This option will provide details of any claim paid under the policy with NEFT/  Cheque details, date of payment and amount of payment.

11.  Policy bond/proposal form image;

 Scanned image of the policy bond as well as proposal form will be displayed for enrolled  policies.

12.  Grievance registration:

Facility to register a complaint /grievance with insurer.

In future the benefits will further be enhanced. If you face any problem in registering, you may contact us/your Agent or to your nearest LIC Branch.

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Tax Relief For Agents

LIC agents main earning is commission. So, Income Tax Department allows some relief to favour Insurance agent. But this relief is for small commission earning agent. If commission earned from LIC insurance business is below Rs.60,000/- p.a. and if no separate books of accounts maintained then the entitlement for deduction is as follows:

i) On First Year Commission - deduction is 50%  

ii) On Renewal Commission - deduction is 15%

The LIC Commission after claiming deduction was mentioned above will be included and can be disclose with other source of income for tax purpose.

The benefit of Adhoc deduction will not be available to agents who have earned total commission of income more than Rs.60,000/- during the year.

In case gross commission earned by an Agent from LIC exceeds Rs.60,000/- per annum  then, he will be not entitled for claiming deduction referred above. He has to maintain books of accounts as required under the Income Tax Act. The following books and documents are recommended to be maintained :

1) Cash Book

2) Bank Book

3) Ledger Book

4) Journal Book

5) Vouchers And Bills

6) LIC Commission Statement

7) TDS Certificates Received from LIC

8) Bank Pass Book, Cheques Book, Deposit Voucher

9) All Other Connected Documents 

Also Read : deduction U/S 57 For LIC Agents

LIC Agents are entitled to claim all expenses incurred for generating LIC Commission such as :

a) Salary to Staff

b) Rent for Office Premises, in case own office then maintenance for the same

c) Fuel Expenses and maintenance for maintaining vehicles.

d) Books, Publications, Periodicals expenses connected to business

e) Printing And Stationery

f) Electricity Expenses

g) Travelling / conveyance Expenses

h) Telephone / Mobile / Internet Expenses

i) Postage Expenses

j) Depreciation Expenses on Vehicles, Computers and Other Office Equipment

k) Gifts, Diaries, Calenders Expenses etc.

l) Staff Welfare Expenses

m) Any Other Expenses related to generate commission.

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Procedure to Get Duplicate LIC Bonds

LIC Bond is the written contract form between insurer and insured, it is the most important documents from LIC point of view. And it is the main evidence for the policy holder that they are insured from LIC of India. So, keep it safe.

If it is misplaced due to some reason due to Shifting or theft or fire or any other reason you are not able to locate/find it then you can apply for duplicate LIC Insurance Policy bond.      

There are some documents and procedures to arrange and follow to get it from your your LIC Branch.

1. Go to your LIC Home Branch and ask the procedure.
2. Get Form No.3762 get type this details on Non-Judiciary Bond Papers of Rs.100/- as self                      declaration and get it notarize from the notary.

Along with above documents with One Photo ID and Address Proof  Submit these documents to your home branch. LIC may charge you some Stamp Charge require to be pay by applicant. The Stamp Charges may differ from Plan to Plan and value to Sum Assured (Sum Assured is the amount that an insurer agrees to pay on the occurrence of an event). Don't forget to take receipts for the same.

These procedure may take normally 5 to 7 working days. If facing any problem and want to know more about all these kindly contact me.

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Rights With Insurance And Investment

Every investment allows you some rights to exercise. Here below i am listing some rights to exercise when you go for insurance or investment. 

1) Right To Have Insurance Policy : - 

    As we know if any misshapen occurs then insurance help to get rid of financial crisis. In some cases it is bound to have insurance i.e if you have bike / car or any other automated vehicle you mus have general insurance. In same way every individual has right to be insure and to protect their family from financial problem, but unfortunately it is not compulsory.

2) Right to Return Insurance Policy : - 

    You don't have to retain a life insurance policy you don't want. You have the right to return it whit in 15 days of receiving policy documents. This is called Free Look Up Period. This free look up period applies to all life insurance policies and health insurance policies with a term of 3 year and more. To return a policy, you need to submit an application. Most insurance companies have a form that can be downloaded from their respective websites or get from their branch office. Submit it yourself.

3) Right to Know Commission Paid on Plans : - 

    If you buy/planning to buy an insurance plan then you have right to know how much commission will be earn by your insurance agent, fund distributor from this financial product. 

A Mutual Fund distributor's commission paid by the fund provider company and it may disclosed in your statement. 

For insurance products, the agent's commission depends on the premium, tenure and plans. You can ask your insurance agent to furnish this information before selling you a policy.

ULIP commission are displayed in the benefit illustration accompanying the proposal form. 

Get in touch with SEBI for Mutual Funds and IRDA for insurance updates if your agent not providing this information.

4) Right to Life Insurance Claim : - 

    An IRDA directives gives you the right to claim the proceeds of a life insurance policy that has completed full 3 years. There are no exceptions to this rule. The Insurance company has this 3- year window to verify the authenticity  of the policyholder, after which the claims have to be settled. This ruling also applies in case a policy holder  expires within 3 years, but the claim is made after 3 years.  

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Financial Duties Of An Individuals

Every citizen have some financial duties and rights that they should know but most of them are unknown to it. We have listed some are here Financial Duties here for your information.

(1) Duty to Pay Tax On Due Date:-
If your income is above taxable limit then you should consult a tax consultant and pay tax as per given slab. Income  Tax paid by you is used by the Government to build the infrastructure of the nation. you can be shock after knowing that only approx 3% of the population file Income Tax Returns and pay taxes. 

(2) Duty to be Truthful with Financial Planning:- 

Now a days livelihood is very expensive. Calculate your insurance cover properly to take adequate amount of insurance. Less or More may misplan your financial future needs. Declare true fact while you are filling proposal form of insurance, any incorrect information can result in your claim being reject.

(3) Duty to Nominate in Time:- 

Mentioning Nomination at the time of filling proposal form is better than later because unexpected risks may happen any time and dependent may come in problem in your absence.

(4) Duty to Sign Filled Form Only:- 

You should know that only you are responsible for the form you signed. So, don't handover any blank form. Fill out the form you are signing yourself or have it done in your presence. Self attested documents are good to prevent frauds.

(5) Duty To Pay Your Dues On Time:- 

Late payment of your dues may impact your credit ability in market. Some time late payment of credit card dues or loan installments can derail your financial planning. Late payment fees are hefty and so always try to avoid it.

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How to Fill NACH Form in LIC ?

What is NACH : The National Payment Corporation of India (NPCI) has implemented an electronic payment service termed as National Automated Clearing House (NACH) for banks, financial institutions, corporate and  Govt. Department. 

NACH is a funds clearing platform set up by NPCI similar to the existing ECS of RBI.

Important Points : 
NACH has both Debit and Credit Variants and it aims at facilitating inter bank high volume debit/credit transactions, which are bulk and repetitive in nature.

The Primary move of NACH is to handle low value, high-volume transactions based on electronic files

Ideally implementing this mandate will allow transactions to be cleared n real-time mode rather than batch mode.

The NACH platform will have national footprint wich will cover 82000+ bank branches

The centralized ACH or NACH is expected to consolidate the current multiple ECS Systems and provide a framework for removal of local barriers/inhibitors and harmonization of standards and practice.

What is Difference between NACH And ECS ?

The prevalent Electronic Clearing Services (ECS) in India is available at around 89 centers in the country while it is operated by the RBI at 15 Centers, it is operated by commercial banks at the remaining centers. The ECS model lacks a standardized operating model users manual processes and has other inherent challenges such as inconsistent timelines around post transnational query management and servicing.

	ECS		NACH
1	Mandate verification is done based on physical resulting in verification issues and delayed timelines.		A robust mandate management system that will include a standardized mandate format and a defined workflow for mandate verification.
2	No such concept of a unique mandate registration reference number.		Unique mandate registration reference number will be available, which will allow for better tracking.
3	Higher number of rejection observed on account of mandate related issues		Provision to capture destination banks unique mandate registration in the transaction file resulting in lesser rejections.
4	Presentation and settlement is spread over 3-4 day period.		Same day presentation and settlement including returns processing.
5	Dispute management is left to the discretion of the Destination Bank		Well defined Dispute Management System electronic platform to raise and resolve issues, Oversight by the NPCI.

How to Fill NACH Form in LIC ?

There are some precautions require to fill NACH Form to save it from rejections.

There are some points which need to have attentions and act as per guidance given below :

* UMRN = Leave it blank.

* DATE = Write date of registration (Current Date)

* To Debit = Tick account type

* Bank Account Number = Write Complete Account Number from Left to end

* With Bank = Name of Customers Bank

* IFSC = IFSC Code

* Amount = is the maximum account printed in the mandate acknowledgement                   letter printed after the policy number is allotted.

* Amount in Words =Do not write "Only" after writing in words)

* Amount in Figure = In figure  don't put slash or dash.

* Frequency = Tick As and When presented

* Debit Type = Tick Maximum amount 

* Policy Number = Write Policy Number

* Mobile Number = Mobile number given in the bank.

* E-mail ID =  If given useful for future reference.

* Period = 

               From = Registration date (the date on which policy is keyed in and                                completed)

               To     = Need Not be entered

               TICK  Until Cancelled

* Signature = 

Single Account Holder = Only one Sign

Joint Account Holder =  Sign of all account holders.

Due to some reason some time it get cancel. To understand proper reason for cancellation are some here given below :

NACH Rejection codes & Reasons : -

MO03 = Drawer signature differs

MO 36 = Invalid payer account number

MO79 = Data mismatch & debit type & sign

MO38 = No such account

MO72 = Data mismatch with mandate

MO73 = Mandate incomplete

NOEX = Turn around time expired

MO40 = Title account wrong , incomplete

MO42 = Account description does not tally

MO32 = Period of validity not mentioned

MO78 = Date mismatch, period & signature

MO57 = Payer name mismatch

MO43 = Nature of debit not allowed

MO07 = Alteration requires authentication. 

Still have confusion about how to fill properly NACH Mandate Form ... watch here 

Suggestion:To know more visit here

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Change Of Nomination in LIC Policy

    The Insurance Act allows the holder of a life insurance policy to nominate, on his own, a person or persons to whom the money shall be paid in the event of his death while effecting the policy or any time before it matures.
    
    A policy holder can do nomination at the time of proposal by given the details of nominee in the proposal form. If nomination can not be done at the time of proposal, it can be done later also. If nomination is done later, it has to be effected by giving notice in a prescribed form of LIC and it has to be done on the back of the policy document. A nomination is not required to be stamped.
    
    Remember Cancellation or Change in Nomination in insurance policies now comes at a cost as regulator IRDA has allowed life insurance company to charge upto Rs.100/- for offline issued policies and Rs.50/- Online (Electronic form) issued policies.

PROCESS OF CHANGE THE NOMINATION IN LIC POLICY :-  A Policy holder can change his nomination during the policy term and it can be changed any number of times. To change the nomination in LIC Policy, the policyholder has to give a notice to LIC of India in a  Form 3750 and nomination has to be endorsed. Further, the policyholder can change nominee without prior inform them. Nomination can be done or changed number of times by paying nominal fee to the insurer.
To process of change of nomination following documents require :- 

• Relation Proof of Life Assured and the person being nominated
• Form No. 3750 *
• Original Policy Bond.

* If you have Joint Life Policy use Form No.3237.

* If you have Minor Nominee use Form No. 3265.

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How To Make Claim in Insurance ?

What is Claim in Insurance?

Let’s talk about claim. Claim is the demand that the insurer (i.e. LIC of India) should redeem the promise made in the contract. Then the insurer settle the claim after satisfying himself that all the conditions and requirements for settlement of claim have been complied with.

Types of claims:-

An insured person can make claim according to condition complied to contract between Insurer & Policyholder. Claim can be made against Maturity; Death or by Surrendering a policy.

In Money Back Policy, LIC or other Insurance company also pays Survival Benefit Payment before the date of maturity.

How to Make Claims and what are the documents required for?

(A)Maturity Claims:-

When Life Insurance Policy is maturing, the insurance company will usually send intimation prior to due date at least two to three months in advance of the date of maturity with maturity amount payable details.

Policy holder should contact his servicing branch to know about claim procedures & sets of documents required. The Insurance Company asks for following documents:

(          1)Maturity Claim Form No. 3825

(          2)Original Policy Bond

(          3)Discharge Voucher with witness sign

(          4)NEFT Details with cancelled Cheques

(B)Death Claims :-

When a person with life insurance policy dies, claim intimation should be sent to the insurance company as early as possible. The Assignee or the Nominee under the policy can do this with the help of his agent or relative.

The claim intimation should contain information like Date, Place and Cause of Death. The Insurance Agent should help the Insured Person Family or Assignee to deal with the Insurance Company. The Insurance company will respond and ask for the following document :

(       1)Maturity Claim Form No. 3825

(       2)Certificate of Death

(       3)Original Policy Bond

(       4)Discharge Voucher with witness signature

(       5)NEFT Details with cancelled Cheques

*If the policy has been assigned in favour of any other person or entity like any Loan provider company – the claim amount will be paid to the assignee who will give discharge.

(C) Surrender of Policy : - Please visit post How to Surrender LIC Policy?

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Insurance And Tax Savings

Earlier we says for Insurance nowadays we also add Insurance with Tax Savings. Mostly people invest for tax saving purpose. And before taking any insurance plan peoples ask how much tax benefit they may get!

Here highlighting some LIC Plans with tax benefit as per Income Tax Act.

1) Deductions Under Section 80C  

   

    (i) Life insurance premium paid in order to effect or to keep in force an insurance policy on the life of the assessee or on the life of the spouse or any child of assesee and in the case of HUF, Premium paid on the life of any member thereof under an insurance policy, (Other than a contact for a deferred annuity) issued on or before the 31st day of March 2012 shall be eligible for "deduction only to the extent of 20% of the actual capital sum assured or actual  premium paid whichever is less." 

   And issued on or after the 1st day of April 2012 shall be eligible for "deduction only to the extent of 10% of the actual capital Sum Assured or Actual Premium paid  whichever is less".

     Where the policy, issued on or after the 1st day of April 2013, is for insurance on life of any person, who is - 

     (a)a person with disability or a person with sever disability (Section 80U)

     (b) Suffering from disease or ailment as specified in the rules under section              80DDB.

   (ii) Contribution to deferred annuity plans in order to effect or to keep in force a contract for deferred annuity, on his own life or the life of his spouse or any child of such individual, provided such contract does not contain a provision to exercise an option by the insured to receive a cash payment in lieu of the payment of annuity is eligible for deduction.

  (iii) Contribution to Annuity Plans like - New Jeevan Dhara, New Jeevan Dhara -I and Jeevan Akshaya -VI.

Under Section 80CCC

 New Jeevan Nidhi Plan & New Jeevan Suraksha - I Plan :- A deduction to an individual for any amount paid or deposited by him from his taxable income in the above annuity plans for receiving pension is allowed.

*The aggregate amount of deductions under U/S 80C, 80CCC & 80CCD (1) shall not in any case exceed Rs.1,50,000/- (Rupees One Lakh Fifty Thousand)*

2) Deductions Under Section 80D

a)    Deduction allowable upto Rs.25,000/- if an amount is paid to keep in force an insurance on health of assessee or his family (i.e Spouse & Dependent children) or any contribution made to the central Government Health Scheme or such other scheme as may be notified by the Central Government in this behalf or on account of Preventive health check-up of the assessee or his family.

b)    Additional deduction upto Rs.25,000/- if an amount is paid to deep in force an insurance on health of parents or on account of Preventive health checkup of the parent of the assessee, whether dependent or not.

(c) In case of HUF, deduction allowable upto Rs.25,000/- if an amount is paid to deep in force an insurance on health of any member of that HUF.

(d) If the sum specified in (a) or (b) or (c) is paid to effect or keep in force an insurance on the  any person specified therein who is a senior citizen, then the deduction available will be up to Rs.30,000/-. Here senior citizen means the person who is of sixty year or more during the previous year.

(e) In case the amount are paid in (a) or (b) or (c) on account of preventive health check up, the deduction for such amounts shall be allowed to the extent it does not exceed in aggregate Rs.5,000/-

(f) For the purpose of deduction, the payment shall be made by  - any mode, including cash, In respect of any sum paid on account of preventive health check up and Any mode other than cash in all other cases.

(g) the insurance as mentioned above shall be in accordance with the scheme framed by (i) the GIC of India or any other insurer approved by IRDA.

3) Deductions Under Section 80DD

Jeevan Aadhar Plan - Deduction from total income upto Rs.75,000/- allowable on amount deposited with LIC under Jeevan Aadhar Plan, Jeevan Vishwas for maintenance of an handicapped dependent (Rs.1,25,000/- where handicapped dependent is suffering from severe disability)

4) Exemption in respect of commutation of Pension under Jeevan Suraksha & Jeevan Nidhi Plans : 

Under Section  10(10A)(iii) of the Income Tax Act, any payment received by way of commutation of pension out of the Jeevan Suraksha & Jeevan Nidhi Annuity Plans is exempt from Tax.

5) Income Tax Exemption on Maturity / Death Claims proceeds under section 10(10D) :

As per Section 10(10D) of the Income Tax Act, 1961, any sum received under a Life Insurance Policy, Including the sum allocated by way of Bonus on such policy is exempt from tax where the sum s received as a death benefit. However, to get exemption under above section for sum received other than death benefit.

* Policy shall not be issued under Section 80DD(3)  Or

* Policy shall not be issued as Keyman Insurance Policy  Or

* Policy which has been issued on or after April 1, 2003 and the premium paid      in any of the years during the term of the policy not exceeding 20% of the          Actual Capital Sum Assured.

* Policy which has been issued on or after April 1, 2012 and the premium paid      in any of the years during the term of the policy not exceeding 10% of the          Actual Capital Sum Assured.

Where the policy issued on or after the 1st day of April 2013 is for insurance on life of any person, who is - 

(i) a person with disability or a person with severe disability as referred to in section 80U, or 

(ii) Suffering from disease or ailment as specified in the rules made under section 80DDB,

*Exemption under this section shall be available only if the premium payable in any of the years is not more than 15% of the actual Capital Sum Assured.*

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Know-What is ULIP ???

A Unit Linked Insurance Plan (ULIP) is a product offered by insurance companies that unlike a pure insurance policy gives investors the benefits of both insurance and investment under a single integrated plan. Unit Linked Plans refer to Unit Linked Insurance Plans offered by insurance companies. These plans allow investors to direct part of their premiums into different types of funds (Equity, Debt, Money market, Hybrid etc.)

History:-

The first ULIP was launched in India in 1971 by Unit Trust of India (UTI) with the Government of India opening up the insurance sector to foreign investors in 2001 and the subsequent issue of major guidelines for ULIPs by the Insurance Regulatory and Development Authority (IRDA) in 2005, several insurance companies forayed into the ULIP business leading to an over abundance of ULIP schemes being launched to serve the investment needs of those looking to invest in an investment cum insurance product.

Working Principle:-

 A ULIP is basically a combination of insurance as well as investment. A part of the premium paid is utilized to provide insurance cover to the policy holder while the remaining portion is invested in various equity & debt schemes. The money collected by the insurance provider is utilized to form a pool of fund that is used to invest in various markets instruments  (debt & equity) in varying proportions just the way it done for mutual funds. Policy holders have the option of selecting the type of funds or a mix of both (debt and equity) based on their investment need and appetite. Just the way it is for mutual funds, ULIP policy holders are also allotted units and each unit has a net asset value (NAV) that is declared on a daily basis. The NAV is the value based on which the net rate of returns on ULIPs are determined. The NAV varies from one ULIP to another based on market conditions and the fund’s performance.

Features:-

ULIP policy holders can make use of features such as top-up facilities, switching between various funds during the tenure of the policy, reduce or increase the level of protection, options to surrender, additional riders to enhance coverage and returns as well as tax benefits.

Types:-

There are variety of ULIP plans to choose from based on the investment objectives of the investor, his risk appetite as well as the investment horizon. Some ULIPs play it safe by allocating a larger portion of the invested capital in debt instruments while others purely invest in equity. Again, all this is totally based on the type of ULIP chosen for investment and the investor preference and risk appetite.

Charges:-

Unlike traditional insurance policies, ULIP schemes have a list of applicable charges that are deducted from the payable premium. The notable ones include policy administration charges, premium allocation charges, fund switching charges, mortality charges and policy surrender or withdrawal charge. Some insurer also charge “Guarantee Charge" as a percentage of Fund Value for built in minimum guarantee under the policy.

Risks: -

Since ULIP returns are directly linked to market performance and the investment risk in investment portfolio is borne entirely by the policy holder, one need to thoroughly understand the risks involved and one's own risk absorption capacity before deciding to invest in ULIPs.

Providers: -

There are several public and private sector insurance providers that either operate solo or have partnered with foreign insurance companies to sell nit linked insurance plans in India. The public insurance providers include LIC of India, SBI Life and Canara Life while some of the private insurance providers include ICICI Prudential, HDFC Life, Bajaj Allianz, Aviva Life Insurance & Kotak Mahindra Life.

Advantages: -

(1) ULIP has limited liquidity. One needs to stay invested for a minimum   period of time as specified in the policy before redeeming the units.

(2) ULIP gives you flexibility to invest as per your risk profile, financial commitments and convenience. You can choose to invest either in equity or in debt or in hybrid fund and even change your investment    strategy. Unit Linked Plans offer you a wide range of flexible options such as   -- 

        (a)  The option to switch between investment funds to match your changing needs.

       (b) The facility to partially withdraw from your fund, subject to charges and conditions.

       (c) Single premium additions to enable the policy holder to invest additional sums of money (Over and above the regular premium) as and when desired, subject to conditions.

(3) Market Linked Returns:  ULIP give you an opportunity to earn market- linked returns as part of the premiums are invested in market linked funds which invest in different market instruments including debt instruments and equity in varying proportions.

(4) Life Protection, Investment and Savings: ULIP offer the twin benefits of life insurance and savings at market-linked returns. Thus you have     the opportunity to invest you money to earn higher returns, while     taking care of your protection needs. Investing in unit linked plans    helps to inculcate a regular habit of saving and investing. Which is important for building wealth over the long term?

(5)  All ULIPs offer Tax benefits under section 80C upto a maximum of Rs.1,50,000/-

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Are You Looking for Best Insurance Adviser !!

Dear Friends !

Now a days there are lots of company who are dealing in insurance business. But who will fulfill their commitment we don't know.

Suppose we took a health plan ( medical insurance plan) but when we come to take benefit of this policy company reject our claims saying this is Pre-Existing Disease. So, they can't honour your claim.

So, before taking the health insurance we must take care of exclusions. Secondly also check the claim settlement ratio of that company.  

I am an authorize insurance adviser approved by IRDA and associated with Life Insurance Corporation of India (LIC) and Star Health And Allied Insurance Co. Ltd.

In case any help regarding Life Insurance, Health Insurance (Cashless Mediclaim), Best Child Plan, Best Plans of LIC, Tax Saving Plans (Tips), you can call me at # 9958781151.

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