Posts Tagged ‘insurance India’

HDFC Term Assurance Plan

There is a open competition in the market among leading insurance companies to sell insurance products at cheaper rates. HDFC Term Assurance Plan is one of affordable term insurance in the market which provides financial security to  your  dependents. It also gives an option of adding optional benefits for extra cover.

In the event of your unfortunate demise or critical illness during the term of the policy, your nominee will receive the sum assured along with any optional benefits due. It is a pure risk cover plan, where nothing is payable on survival to the end of the  term of the policy. 

HDFC Term Assurance Plan also gives an option of choice of premium paying options between regular premium or single premium.  This plan can be taken on a single life basis or a joint life basis(first claim).

Under this plan, the premium paid is eligible for tax benefit under section 80C and benefit received under this policy is exempt from tax under section 10(10D) of the Income Tax Act,1961. Premium paid for critical illness rider is eligible under section 80D.

To eligible for this plan, the entry level age age is18 years to 60 years, with optional benefit the maximum entry age is 55 years. The maximum age at maturity is 65 years.

LIC-Anmol Jeevan I

lic Anmol Jeevan is a best term assurance in the market. It provides higher life cover at very affordable premium rates. This policy is suitable for those who wish to provides a higher amount to their family. Under this policy, no survival benefit is payable.

The policy pays death benefit of the sum assured to the beneficiary, in case death of the life assured during the term of the policy. The policy doesn’t require any paid up value or surrender value under this policy.

Features-
Offers rebate of 1% on annual premium for yearly mode and none for half yearly mode.
Grace period of 15 days for for a payment of yearly and half yearly mode.

Eligibility Criteria:
The minimum and maximum entry age is 18 years and 55 years respectively. The maximum age at maturity is 65 years. The policy terms ranges from 5 years to 25 years. The minimum sum assured is Rs. 5,00,000/- and maximum is Rs.25,00,000/-. The premium can be paid by yearly, half yearly and single premium.

Aviva Life Insurance-Aviva LifeShield

Aviva LifeShield is a protection solution from Aviva Life Insurance. It provides financial protection to your family at very affordable cost. This is a pure risk cover plan, no survival benefit is payable at the end of the policy term.

Benefits-

Death Benefit-
In the event of death of the life assured during the term of the policy, the sum assured is payable to the beneficiary.
Tax Benefit-
Premium paid is eligible for tax benefit under section 80C of the Income tax Act,1961.

Features-

-Special rates to the customer opting for sum assured above Rs.10Lakh and to the Aviva Pension Plus policyholder.
-Option to increase in the sum assured on the special events like marriage and child birth.

Eligibility-
The policy is available for the people age group 18 to 55 years and the maximum age at maturity is 65 years. The policy term ranges from 5 years to 40 years. The minimum sum assured is Rs.5,00,000/- and   minimum premium amount is Rs.2000/-. The premiums can be paid annually, half annually, quarterly and monthly.

Reliance Super Golden Years Basic Plan

Reliance Life Insurance offers flexible unit linked pension plan called Reliance Super Golden Years Basic Plan. It provides you the opportunity to invest systematically to secure your golden years in old age.

The plan offers following eight investment funds to choose from-
New Balanced Fund, New Growth Fund, New Equity Fund, New Energy Fund, New Infrastructure Fund, New Money Market Fund, New Mid-cap Fund and New Pure Equity Fund.

Flexibilities-

1. Flexibility to choose annuity option from Life Annuity, Life Annuity with return of purchase price on death and Life Annuity guaranteed for 5, 10 or 15 years and payable for life thereafter.
2. Flexibility to pay top-ups at any time in the policy. The minimum top up amount is Rs.2,500/-.
3. Flexibility to switch between the funds at any time during the policy term.
4. Flexibility to pay single premium or regular premium

Features-

1. Tax free commutation up to one third of fund value at vesting age.
2. Optional benefits are offered at the nominal extra cost.
3. Policy can be surrender after three policy years. The guaranteed surrender value is payable.
4. Grace period of 30 days and 15 days for monthly mode to pay the premium from the due date.
5. Premium paid are eligible for tax benefit under the Income Tax Act,1961.

Eligibility-

1. Age at Entry-18 to 59 years
2. Age at Vesting- 75 years
3. Policy Term- Minimum 16 years
4. Premium Payment Mode-Annual, Half Annual, Quarterly and Monthly