I want to take insurance (risk cover - preferably in one piece life- of LIC. Whic are the options available? What is profit and non profit policies? Brief explanation please ! Thanks
Answers: Congratulations for opt for LIC insurance cover !
Let me explain profit & non profit policies in brief.
Profit Policies are those return a ceartain amount on readiness. The amount payable on maturity will be the sum assured + accrue bonuses + final additional bonuses, if any. You may roughly divide it as about 6% compunded annually.
Non-Profit (Pure Insurance) : As the heading denotes it is a policy which returns nothing on later life. It will pay just if the event against which one has taken the policy occur, such as the untimely demise of the insured ect. Here one can take insurance for a larges amount on compensation of a very low premium. Also you enjoy the advantage of shifting to another insurer, as at hand is no surrender value involved.
As for your enquiry regarding a intact life plan - contained by my opinion the best plan available near LIC is JEEVAN ANAND - it will give the policy holder a vivacity long cover even after paying the full maturity amount on old age of the policy. On the death of the policy holder the Sum Assured is again compensated to the nominy. This is also called the Double Maturity Plan. Double Accident Benefit is available upto the age of 70.
So Go ahead ! Insure Yourself !
hold insurance in following sequence:
1. mediclaim
2. quirk insurance
3. life insurance- pure- no parenthood benefits- very low premium and elevated cover then merely to the extent necessary to cover loss to family unit from your untimely and sudden death.
Hi, if you want merely insurance cover then I suggest you stir for a pure term plan and invest the rest of the amount contained by mutual funds.A term plan is incredibly cheap. In case of anything wretched the amount will be paid to the nominee. If you survive you dont go and get anything. You can opt for whole existence but the problem is you'll have to turn on paying the premium whole duration. With profit policies are the ones which, on maturity tender your principal amount plus the bonus whereas without profit policies dont hand over bonus like residence plan. For more information visit http://www.investorcamp.blogspot.com these are flawless site for all type insurance and insurance company and agents
http://www.insuranceplan4u.com
http://www.insuranceandinvestments.net/i...
Answers: Congratulations for opt for LIC insurance cover !
Let me explain profit & non profit policies in brief.
Profit Policies are those return a ceartain amount on readiness. The amount payable on maturity will be the sum assured + accrue bonuses + final additional bonuses, if any. You may roughly divide it as about 6% compunded annually.
Non-Profit (Pure Insurance) : As the heading denotes it is a policy which returns nothing on later life. It will pay just if the event against which one has taken the policy occur, such as the untimely demise of the insured ect. Here one can take insurance for a larges amount on compensation of a very low premium. Also you enjoy the advantage of shifting to another insurer, as at hand is no surrender value involved.
As for your enquiry regarding a intact life plan - contained by my opinion the best plan available near LIC is JEEVAN ANAND - it will give the policy holder a vivacity long cover even after paying the full maturity amount on old age of the policy. On the death of the policy holder the Sum Assured is again compensated to the nominy. This is also called the Double Maturity Plan. Double Accident Benefit is available upto the age of 70.
So Go ahead ! Insure Yourself !
hold insurance in following sequence:
1. mediclaim
2. quirk insurance
3. life insurance- pure- no parenthood benefits- very low premium and elevated cover then merely to the extent necessary to cover loss to family unit from your untimely and sudden death.
Hi, if you want merely insurance cover then I suggest you stir for a pure term plan and invest the rest of the amount contained by mutual funds.A term plan is incredibly cheap. In case of anything wretched the amount will be paid to the nominee. If you survive you dont go and get anything. You can opt for whole existence but the problem is you'll have to turn on paying the premium whole duration. With profit policies are the ones which, on maturity tender your principal amount plus the bonus whereas without profit policies dont hand over bonus like residence plan. For more information visit http://www.investorcamp.blogspot.com these are flawless site for all type insurance and insurance company and agents
http://www.insuranceplan4u.com
http://www.insuranceandinvestments.net/i...