Let’s start the discussion on investment decision in LIC policy is good or bad by taking an example of Jeevan Anand (815), the most famous policy of LIC and compare the return of the Policy which is insurance and investment mixed policy with LIC’s eTerm insurance plus PPF. You will get tax benefits under section […]
LIC Tech Term Plan No 854 – Online Term Insurance Plan
LIC is going to launch its Online Term Insurance Plan “LIC Tech-Term (No. 854)” on 12th July 2019. This new plan is a non-linked and non-participating term insurance plan. LIC already have few term insurance plans in its portfolio namely LIC e-Term – Pure Online term plan, LIC Amulya Jeevan – II, LIC New Jeevan […]
Rights of an Insurance PolicyHolder in India
Insurance PolicyHolder Rights in India Insurance policyholder in India enjoys certain rights as per law. Here is a list of some of these rights. Complete knowledge of the policy/plan Insurance Regulatory and Development Authority (IRDA) has laid down the stringent instructions to be followed by the insurance company or agent to provide the complete information […]
When to Review your Life Insurance Policy?
Life insurance policy and health insurance policy are the two major pillars of every financial planning. Absence of any of the policy will completely destroy the financial plan. But simply taking the policies are not enough, one needs to make sure that the cover or the sum assured amount is sufficient to serve the purpose. […]
Tax Exemption on Life Insurance Policy under Section 10(10D)
Section 10(10D): Tax Exemption on Maturity Amount of Life Insurance Policy 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 whether received from India or any Foreign Company. However, this rule does […]
How Much Life Insurance Do I Need Rule Of Thumb?
If you are a breadwinner of your family and your family members are financially dependent on you, then you must have life insurance but How Much Life Insurance Do I Need? This is the first and the foremost question everybody has in their mind before taking the life insurance policy. Taking inadequate or insufficient policy […]
Finding Unclaimed Insurance Money in India
According to the latest report (as at 31st March 2018) of Insurance Regulatory and Development Authority of India (IRDA), unclaimed insurance money lying with the 23 Insurance Companies worth nearly Rs.15,167 crore and has grown 25% annually over the past five years. Country’s biggest insurer LIC has humongous Rs.10,509 crore while other insurers namely ICICI […]