Short-term dis (STD) expires 7 days. My employer sent notification to permanent status. me tomorrow. Doc approved to Mar/08?
So, my question: is this typical? They occupied my position last month. I don't plan on going put money on anyway. I've paid into the Long Term Dis. plan. It's a big corporation. The state is paying me a %, but the company side is reviewing my appeal since they said I wasn't disable underneath THEIR policy.I know there is abundantly going on here, so any information would be helpful. Thanks.
Answers: Yes, they don't enjoy to hold the position open for you. So one terminated isn't unreasonable, as you aren't showing up for work!!
So, your STD goes until March, per your doctor. Then you're out of work, and will have to look for work if you aren't disabled any more.
If you aren't disabled underneath the definition of the policy (take out your polciy and read it!!), then you're not going to win paid. Period.
what are the grounds for termination? we want to start from there. You will want a copy of adjectives of your paperwork and your HR policies and proof paperwork was signed and submitted surrounded by the time required. Is the termination more of a lay-off?? something you could get laying-off for? why do they say your disability does not apply to their policy? does long permanent status only apply if you are hurt on the livelihood?
There is a lot of information we would requirement to get you an answer.
The best piece you can do is collect all of the information i mentioned above and see an attorney to confirm what you deserve for disability and if the grounds for termination are legitimate ...
How ulip plans works?
Answers: I somewhat agree that ULIP works as Mutual fund. But amount deducted is not just Insurance Premium(mortality charge) but also Premium allocation charge & Policy admin charge. These charges eat most of your return & one need atleast 2-4 years just to recover the investment & then he can expact some returns. Actually IRDA(who govern ULIP) is not a strick regulator & companies loots the investor in for of many charges & also these agents mis-guide the investor for purchasing ULIP. On the other hand ,SEBI (who govern Mutual Funds) is a very strick regulator & has managed to keep Mutual fund charges under strick control & MF industry will see more reduction of charges in future. Also Mutual fund Agents do not have too much scope of misguiding investor (even if they do, effect of it on investor is not to that extent).
There is one additional option of some free switches (which is not that free in Mutual fund or not available in tax saving fund for first three year) but it is too hard to use that option in advance(there is generally 3 PM cutoff for the next day market). As per research, only 2 % use this option ( don't know if they get benifit or loss by using this option). Switch option is generally useless as no one can predict the market in normal conditions.
To get ULIP more attractive for investor, IRDA & company has to reduce various charges (mainly premium allocation & policy admin) , so that ULIP works like Mutual fund.
Otherwise MF + Term Insurance is best.
If you know how mutual funds work, then the same way the ULIPs work. The difference is ULIPs have a component of Insurance premium which will be deducted from your premium and balance will be invested in stocks as per your option in Growth fund/secured fund etc.,
good luck
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Rules for LIC Policy lapse or continuation?
I was insured near LIC in 2003. I remunerated regular premium installments up to two year 2005. After 2005 I have not remunerated any premium installment to LIC. Can still i continue my policy from today's date and can i receive my two year installment which i own deposited to LIC?Answers: You can revive your Policy by paying arrears of premium with interest for the delayed spell. You may also have to submit a Declaration of Good Health or a Medical Report depending on the helpfulness of your Policy. I believe now in that is some campaign going on for revival of policies where on earth they offer some discount on the interest on premium upto 30%. You can avail of that.
If your policy have loan facility, you can avail loan and pay your arrears out of it through a 'loan-with-revival' endeavour.
You have to salary at least 3 years premium to carry a refund, that too solely a discounted amount. It is best for you to continue your prmium. You might never know when it will come handy as a money. And there's always the IT nouns!
LIC has open an opportunity to continue its lapse polilies. Here is a lots of competition within Insurance sector. now LIC is not a monopoly holder within market. It have changed its policies and is liberel now. Just contanct to nearest LIC organization with your policy detail, ducument and deposit reciepts.