You Leap ! no no it's ULIP - Unit linked Insurance Plans. ULIPs are for those who have a greater risk appetite for wealth creation. Here the money is invested in market-linked instruments like stocks, corporate bonds and government securities. A major portion of money is invested in Equity where the returns are higher in the long run so if you are planning to invest for a longer run & get the Life Insurance coverage & investment benefits at the same time then one must go for ULIPS.
Unit-linked life insurance products are those where the benefits are expressed in terms of number of units and unit price and all depends on the NAV.
Unit-linked products are exempted from tax and they provide life insurance which makes it an attractive investment tool in a portfolio. Unit Linked Insurance Policies as an investment are similar to mutual funds in terms of their structure and functioning, sometime ULIP is also compared to Life Insurance with profits
The advantage of Unit linked plans are that they are simple, clear, and easy to understand. Being transparent the policyholder gets the entire upside on the performance of his fund. Besides all the advantages they offer to the customers, unit-linked plans also lead to an efficient utilisation of capital. The good time to buy a ULIP is when one can expect long-term growth ahead. This is especially so if one also believes that current market values (stock valuations) are relatively low.
Illustrations are shown to the client by the advisor to give him an idea about the returns on his policy. Agents are bound by guidelines to show illustrations based on an optimistic estimate of 10% and a conservative estimate of 6%. However ULIPS have shown returns more that 10%. Also note that the insurance company must state the ULIP charges explicitly
Be cautious of the marketing gimmicks, though IRDA, to their credit, did intervene at regular intervals to infuse some much-needed sanity.
If you would like to know how life insurance can help you meet your financial requirements please mail us at indiainvestinsure(at)gmail(dot)com
Types of Life Insurance Policies
The Life insurance policies can be classified into the following types.
1. Term Insurance Policies
2. Unit Linked Policies ( Popularly known as ULIP)
3. Money Back Policies
4. Whole Life Policies
5. Endowment Polices
6. Retirements Benefit / Pension Policies
7. Children Insurance
There are various kinds of Insurance policies floated by the companies with different names. You must have heard about the Hot selling policies like Kotak Smart Advantage Plan (KSAP) by Om Kotak, Jeevan Anand by LIC etc etc . Name does not relate to anything and so it should not be a criteria for selection. Just check where it fits in, is it a ULIP or Whole Life and does it fulfill your requirement.
Click on the Policy type to get more information.
1. Term Insurance Policies
2. Unit Linked Policies ( Popularly known as ULIP)
3. Money Back Policies
4. Whole Life Policies
5. Endowment Polices
6. Retirements Benefit / Pension Policies
7. Children Insurance
There are various kinds of Insurance policies floated by the companies with different names. You must have heard about the Hot selling policies like Kotak Smart Advantage Plan (KSAP) by Om Kotak, Jeevan Anand by LIC etc etc . Name does not relate to anything and so it should not be a criteria for selection. Just check where it fits in, is it a ULIP or Whole Life and does it fulfill your requirement.
Click on the Policy type to get more information.
List of Life Insurers in INDIA
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks" - Benjamin Graham
S.No | NAME OF THE COMPANY | TELEPHONE NO./FAX No./E-MAIL & WEB ADDRESS |
1. | Bajaj Allianz Life Insurance Company Limited | Tel: 020-4026666 Fax : 020-4026789 |
2. | Birla Sun Life Insurance Co. Ltd | Tel |
3. | HDFC | Tel |
4. | ICICI | Tel |
5. | ING | Tel |
6. | Life | Tel |
7. | Max | Tel |
8. | Met | Tel : 080-26438638 Fax: 080-26521970 Toll Free No. 1-600-44-6969 |
9. | Kotak 9th | Tel
|
10. | SBI | Tel |
11. | Tata | Tel : |
12 | Reliance Life Insurance Company Limited. 1st Floor, Mdas, Kurla Road Mumbai 400059. | Tel : 022-30479600/30479784 Fax: 022-30479650 |
13 | Aviva Life Insurance Company India Limited Opposit Golf Course, DLF-Phase V, Sector-43, Gurgaon - 122 003 | Tel: 0124-270 9000/01, Fax: 0124-270 9007. |
14 | Sahara India Life Insurance Co, Ltd. Bhawan, Kopoorthala Complex, | Tel: 0522-2337777 Fax: 0522-2378200 |
15 | Shriram Life Insurance Co, Ltd. Regd. Office : 3-6-478, 3rd Floor, Anand Estate, Road - 500029 | Tel: 040-23434466-72 Fax: 040-23434488 |
16 | Bharti AXA Life Insurance Company Ltd. 61/62, Kalpataru Synergy, Vakola, Opp. Grand Hyatt Hotel, Santacruz (E) Mumbai – 400 055 | Tel: 022 – 40306300/6301 Fax: 022 - 40306347 |
17 | Future Generali India Life Insurance Company Limited 001, Trade Plaza, Ground Floor, 414, Veer Sarvarkar Marg, Prabhadevi, Mumbai 400 025. | Tel No.: 022-40976688 Fax No.: 022-40976868 |
18 | IDBI Fortis Life Insurance Company Ltd., Tradeview, Oasis Complex, Kamala City, P.B. Marg, Lower Panel (W), Mumbai-400 013 | Tel No.: 022-24908109/10 Fax No.: 022-24941016 |
19 | Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd. C/o. HSBC at Amsoft Systems, Unitech Trade Centre, Sector-43, Sushant Lok-1, Opp. Park Plaza Hotel, Gurgaon-122 001. | Tel: 0124– 44215706 Fax: 0124- 4201109 |
20 | AEGON Religare Life Insurance Company Limited. GYS Heights, 2nd Floor, Paranjpe “B” Scheme, Subhash Road, Near Garware House, Vile Parle (E), Mumbai – 400 057 | Tele No.- 022-67292929 Fax No.- 022 67293333 |
21 | DLF Pramerica Life Insurance Co. Ltd. 6th Floor, DLF Gateway Tower, R Block, DLF City, Phase-III, Gurgaon-122002. | Ph. No.- 91-124-271700 Fax No.- 91-124-2717200 |
Life Insurance
Life Insurance Policy becomes a priority with the need to safeguard your family - it is considered one of the most popular savings/investment schemes.
Insurance is essentially the means to financially compensate for losses that life throws at people - corporate and otherwise.
Life is full of uncertainty and unpredictable future, Insurance then is man's answer to the vagaries of life. If you cannot beat man-made and natural calamities, well, at least be prepared for them and their aftermath.
It reminds me " Nothing in life is to be feared. It is only to be understood - Marie Curie ", So we have to understand it on time .
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals or in lump sums.
Now Life insurance also provides other benefits apart form the main motive. Insurance is now considered as a Tax saving and wealth creation instrument.
The requirement of Life insurance varies from person to person and also depends on the age of the person. To serve the purpose there are various kinds of Life insurance.
Good News is that there are around 19 Life Insurers, with a more than a 100 of policy to chose. Don’t worry all insurers has to work under the guidelines of IRDA (Insurance Regulatory and Development Authority, which was constituted by an act of parliament). So its not just LIC (Life Insurance Corporation) who can service you , you have many more options. You can buy what you Like to Buy, Not what your advisors or agent pushes.
First and foremost you have to identify, why at all you need an Insurance? How it will benefit you ? and If it benefits you , how much should you spends to get the benefit ?
Oh! It seems there are Lots of Why ? , What ? Where ? How ? are involved.
Don’t worry We will help you to make it Easy, Yeah ! Now I could see the simile on your face
So keep yourself at peace, just read our articles to get the answers.
“The good life is inspired by love and guided by knowledge.”- Bertrand Russell
Insurance is essentially the means to financially compensate for losses that life throws at people - corporate and otherwise.
Life is full of uncertainty and unpredictable future, Insurance then is man's answer to the vagaries of life. If you cannot beat man-made and natural calamities, well, at least be prepared for them and their aftermath.
It reminds me " Nothing in life is to be feared. It is only to be understood - Marie Curie ", So we have to understand it on time .
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals or in lump sums.
Now Life insurance also provides other benefits apart form the main motive. Insurance is now considered as a Tax saving and wealth creation instrument.
The requirement of Life insurance varies from person to person and also depends on the age of the person. To serve the purpose there are various kinds of Life insurance.
Good News is that there are around 19 Life Insurers, with a more than a 100 of policy to chose. Don’t worry all insurers has to work under the guidelines of IRDA (Insurance Regulatory and Development Authority, which was constituted by an act of parliament). So its not just LIC (Life Insurance Corporation) who can service you , you have many more options. You can buy what you Like to Buy, Not what your advisors or agent pushes.
First and foremost you have to identify, why at all you need an Insurance? How it will benefit you ? and If it benefits you , how much should you spends to get the benefit ?
Oh! It seems there are Lots of Why ? , What ? Where ? How ? are involved.
Don’t worry We will help you to make it Easy, Yeah ! Now I could see the simile on your face
So keep yourself at peace, just read our articles to get the answers.
“The good life is inspired by love and guided by knowledge.”- Bertrand Russell
Subscribe to:
Posts (Atom)
