What's the single premium amount to opt any income plan of LIC & Pvt Sector. How much I should invest to.
get around 15K to 20K after 25 yrs as in a minute I'm 25 & want to retire on 50. Pls. suggest.Thanx all of u surrounded by Advance.
Answers: Instead of Retirement plan, I will advice you to invest contained by some good mutual funds very soon due to following reasons.
1. Retirement plans gather tax as of in a minute but returns in Annuity are tax later & are considered as your income. so these are defered toll plan.
2. Annuity rates are very low contained by all bank. They do not give more after 4-5% interest to you.
3. These plans charge too much charges , which makes the return repulsive.
4. Once purchased you are bound to any retirement plan for 25 years (if thinking of long term) or you will have to pay cheque high initial charges again within any other plan.
Better go for a virtuous portfolio of balanced mutual funds (include some equity diversified fund too) & even at retirement age you surface to purchase annuity, you can do it at that time.
If you have established to go for a retirement plan, shift for a single premium plan with lowest premium, which allow unlimited pop up. This will reclaim you from allocation charges these companies charge.
I agree with Mr.Bharat.
But some general public may not be using the investment avenues and even though they use, they tend to spend the amounts.Such people may run in for allowance plans.
Being a 25 years boy, you are advised to bring Jeevan Nidhi a pension policy, which will achievement like an endowment policy upto the parenthood period and will be converted to Pension plan on readiness.
good luck
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Will the LIC agent pay the first premium amount for New Bhima Gold policy(50k) for 15 years.?
Answers: This is not a rule , though it is a tendency seen in market.
I will blame the insurance companies, who give very high commision in first year to its agents. Agents follow this unlawfull activity just to increase their sell & to ensure income in coming years.
Though the trend is not of full premium amount.
LIC agent should not pay any premium to any policy.
Insurance Policies are for covering life risk of us or our family. It should be taken in the insurable interest.
If an LIC Agent pays the premium for our policy it is shameful to us as he is having insurable interest on our family.
Pls think over.
Please read the extract from the act regarding this.
EXTRACT from Section 41 of the Insurance Act
1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a policy accept any rebate except such rebates as may be allowed in accordance with the published prospectuses or tables of the insurer : provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taking out by himself on his own life shall not be deemed to be acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.
(2) Any person making default in complying with the provisions of this Section shall be punishable with a fine which may extend to Rs.500 / -
good luck
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You can search with the help of search engine and you can solve your problem on the link given below :
http://www.reliancelife.net.in
http://www.reliancelife.info
http://www.ignou.info
I think that you can get answer of your problems at the weblink provided above
Vehicle insurance lapse?
I forgot to pay my vehicle insurance for a year. is it possible to attain a new insurance for my bike. my previous one be with spanking new india assuranceAnswers: yes
Nothing to worry, step to the same insurance company near your vehicle's cover note or closer vehicle policy alonwith your vehicle for their spot inspection of vehicle, you have to fetch all RTO documents of your vehicle, on insection pay packet your premium. you will get first cover data and within a week you will receive policy, thats adjectives.