Bimadeals » PROTECTION PLAN

MONTHLY INCOME PROTECTION PLAN LAUNCHED BY FUTURE GENERALI

bhavana — Thu, 11 Feb 2010 16:19:07 +0000

Monthly Income Protection Plan has been launched by Future Generali. This scheme is for customers who frequent Big Bazaar outlets. The plan is available at a onetime charge of Rs.79 only. The policy assures a sum of Rs.10,000/month for 10 months to the family of the insured in case of accidental death or permanent disablement within one year of purchasing the policy. You can purchase a maximum of 5 units, with a cover of up to Rs.5 lac.

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Reliance Life Insurance | Super InvestAssure Basic Plan

bhavana — Wed, 06 Jan 2010 05:41:09 +0000

UNDER THIS PLAN THE INVESTMENT RISK IN THE INVESTMENT COLLECTION IS BORNE BY THE POLICYHOLDER.

Here’s a unique plan which combines safety and savings. It also offers complete flexibility to increase control over your investments vis-a-vis your financial needs and risk craving.

We value your regular investments and as a result reward you with Guaranteed Addition therefore promising matchless benefits. This insurance plan also offers you a unique option of moving from a traditional fund to an aggressive fund scientifically, to take advantage of the Rupee cost averaging model.

A plan that promises you, what you should to deserve as you reach greater heights in life. What more can you ask for except gifting yourself with Reliance Life Insurance Super InvestAssure Basic Plan.

Key features – Reliance Super InvestAssure Basic Plan

- Twin benefit of market linked return and Life Insurance protection.

- Guaranteed addition of 250 per cent of basic regular annualised premium at maturity.

- Investment opportunity with flexibility -Choose from Eight pure investment fund options

- Liquidity in the form of half-done withdrawals

- A host of optional rider benefits to improve protection cover

- Option to pay Top-up Premium(s)

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LIFE INSURANCE | KOTAK TERM/PREFERRED TERM | KOTAK MAHINDRA | ADVANTAGES | FEATURES | BENEFITS | ELIGIBILITY & EXCLUSIONS

bhavana — Fri, 04 Dec 2009 16:58:09 +0000

We all say that life is full of uncertainties and only time holds the key to unlock what is in store, but one can do something to prepare for what life is going to dish up. One can be prepared for any circumstances with the path one chooses. To achieve all the dreams one works day and night. You want to see your family secure and happy at all times. However, life is unpredictable. To protect your loved ones, should anything unfortunate happen to you and ensure that they are able to cope with their financial obligations; you need a good term insurance plan, like Kotak Life Insurance Kotak Term Plan.

Kotak Term Plan is a pure risk cover plan and truly an economical way of getting a high level of financial protection. Kotak Preferred Term Plan offers special premium rates to non-tobacco users and women, for a sum assured of Rs.25 lakhs or more.

ADVANTAGES

Term Insurance Premium

A truly low-cost plan that offers high cover at low term insurance premiums
Special rates for women and non-tobacco users
Choice of premium payments
Options – regular, single and limited premium payment option to convert to any other plan

FEATURES & BENEFITS

You may avail of the following non-participating value-adds for a nominal term insurance premium at the time of taking your policy, subject to aggregate premium on all value-adds (except Critical Illness Benefit) not exceeding 30% of the basic Kotak Term Plan premium.

Truly a low cost insurance plan

Kotak term insurance plans offer the benefit of high life cover at economical prices.

Special Premium Rates

Kotak Preferred Term Plan offers women and non-tobacco users with even lower term insurance premium rates for a sum assured of Rs. 25 lakhs and above.

Flexibility in payment of premiums

You may choose from the following premium payment terms for the term insurance — Single, Regular and Limited Premium Payment (3 and 5 years) options.

If you opt for a regular or limited premium payment option, you can pay your premiums annually, half yearly, quarterly or monthly*.

Death Benefit

In the event of death during the term, the beneficiary would receive the sum assured.

Conversion Option

You may convert your Kotak Term Plan to any other plan offered by Kotak Life Insurance (except for another term plan) provided there are at least 5 years before cover ceases.

Value Adds of Kotak Term Plan

You may avail of the following benefits for a nominal additional premium if you have selected regular term insurance premium payment option.

Accidental Death Benefit (ADB)
Permanent Disability Benefit (PDB)
Critical Illness Benefit (CIB)

Accidental Death Benefit (ADB)*

If the Life Insured dies of an accident within 120 days from the date of accident and the beneficiary proves the same to the satisfaction of the Company, then the Accidental Death Benefit sum assured will become payable.

The maximum cover available under this benefit is equal to the basic sum assured (subject to a maximum of Rs 10 lakhs).

Permanent Disability Benefit (PDB)*

If the Life Insured becomes totally and permanently disabled due to an accident and the policyholder proves the same to the satisfaction of the Company, the Permanent Disability Benefit sum assured will be paid as five annual installments of 12% of the sum assured, starting on the date that disability is admitted by the Company, followed by a final payment at the end of the fifth year of 60% of the sum assured. The life insured should survive for at least 120 days from the date of the accident. The policyholder should write to the Company giving the details of Permanent and Total disability in the required format, within 150 days after the happening of the disability. Permanent Disability is defined as permanent and immediate inability to work or permanent loss of use of any two limbs or total and permanent loss of sight or injuries that permanently preclude following an appropriate occupation from the date of accident onwards.

The maximum cover available under this benefit is equal to the basic sum assured (subject to a maximum of Rs 10 lakhs).

Critical Illness Benefit (CIB)*

This benefit can be added to the basic life insurance plan to provide financial support in the event of medical emergencies. On the first occurrence of critical illness during the term of the plan, you would receive a portion of the sum assured to help you reduce your financial burden in this emergency.

The maximum Critical Illness Benefit that you can avail depends on the basic plan subject to a maximum of Rs 20 lakhs.

After the Critical Illness Benefit is paid, the basic sum assured and all the benefits dependent on the basic sum assured will reduce in the same proportion that the Critical Illness Benefit bears to the basic sum assured at the time of claim. The list of critical illnesses is:

Heart Attack (MI)
Cancer
Stroke
Coronary artery by-pass graft surgery (CABG)
Kidney failure
Major organ transplants
Paralysis
Loss of limbs
Aorta surgery
Major burns
Heart valve surgery
Blindness

Tax benefits of the term insurance plan

You can avail of tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961. Premiums paid for Critical Illness Benefit (CIB) qualify for a deduction under Section 80D. Tax benefits are subject to change in the tax laws. You are advised to consult your tax advisor for details.

ELIGIBILITY & EXCLUSIONS

Entry Age (in years)	Min 18 years, Max 65 years
Term of Plan (in years) Single and Regular Payment Option	Min 5 years, Max 30 years
Term of Plan (in years) Limited Payment Option	Min 10 years, Max 30 years
Age at Maturity (in years)	Max 70 years
Premium rates for Half-yearly, Quarterly and Monthly modes are 51%, 26% and 8.5% of Annual rates respectively

In case the life insured commits suicide within one year of the date of issue of the plan or date of revival, the beneficiary would not receive any of the benefits outlined in the plan.

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LIFE INSURANCE | KOTAK ETERNAL LIFE | KOTAK MAHINDRA | ADVANTAGES | FEATURES & BENEFITS | ELIGIBILITY & EXCLUSIONS

bhavana — Fri, 04 Dec 2009 16:19:46 +0000

We all say that life is full of uncertainties and only time holds the key to unlock what is in store, but one can do something to prepare for what life is going to dish up. One can be prepared for any circumstances with the path one chooses. To achieve all the dreams one works day and night. To ensure that your hard-earned money is accessible when you need it the most and cost for a secure future does not increase with time, Eternal Life Plans look towards offering you and your family lifelong protection. With guaranteed protection for life, opportunity to create wealth, and comprehensive cover options, these plans provide you with a perfect financial solution to suit your needs.

Kotak Eternal Life Plans are participating whole life plans that provide enhanced protection till the golden age of 99. The plans consolidates the benefits of a high cover at lower premiums, cash lump sum benefits at desired stage and a way to care for your spouse into one package thereby making it suitable for someone looking for a complete whole life protection plan.

ADVANTAGES

Permanent and complete protection till your 99th birthday
Adequate protection to meet your growing needs
Cash lump sum to fulfill your dreams
Choice of 2 plan options
Complete safeguard against uncertainties of Accidental Disability (applicable to Eternal Life Premier Shield only) and Critical Illness (in the form of a rider)
Tax Benefits under Sec 80C and Sec 10(10)D

FEATURES & BENEFITS

Protection for your family (Death Benefit)

In the unfortunate event of death within the term of the policy, your beneficiary would receive:

Bonus (if any) + Interim Bonus (if any) + Terminal Bonus (as applicable), payable on death during the premium payment term
Guaranteed Sum Assured + Terminal Bonus(as applicable), payable on death after the premium payment term

Cash Lump Sum In The Form Of Bonus Additions

Eternal Life Plans offers the following benefits during the life of the policy:

Simple Reversionary Bonuses: These bonuses are paid out on the 5th policy anniversary, on death during the premium payment term or on survival to the end of the selected premium payment term.

Interim Bonus: In case of a death claim during the premium payment term in respect of the latest policy year for which the reversionary bonus is yet to be declared.

Additional Terminal Bonuses: Payable only on Maturity or earlier Death, as applicable. These are available throughout the lifetime of the policy.

Special Terminal Bonus: Payable as a lump sum cash benefit on survival by the life insured to the end of the premium payment term.

Plan options

Designed in two unique variants, the product has been packaged to suit different sets and needs of customers:

Eternal Life Premier Shield – Offering a comprehensive Whole life cover till age 99 with premiums that match income and lifestyle.

Eternal Life Classic Shield – Offering a comprehensive Whole life cover till age 99 along with guaranteed level premiums and flexible premium payment term.

Tax Benefits

Tax Benefits can be availed under section 80C and 10(10D) of Income Tax Act, 1961. Section 80D of the Income Tax, 1961 will apply in case Critical Illness benefit is opted for. Tax benefits are subject to change in tax laws. Please consult your tax advisor for details.

ELIGIBILITY & EXCLUSIONS

Entry Age for life to be insured	Min – 0 years, Max – 65 years
Regular term of the policy	(99 – Entry Age) years
Maturity Age	Max – 99 years
Maximum Age at which premium payment ceases	75 years
Premium Payment Term	Min: 10 years / Greater of (10, 18 minus the entry age) (for minor) Max: Lesser of (75 minus age at entry, 40)
Min Premium	Regular-Rs.10,000 p.a. for 10 -14 years payment term, Rs.6,000 p.a. for 15+ years payment term

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LIFE INSURANCE | KOTAK LOAN PROTECTION PLAN | KOTAK MAHINDRA | ADVANTAGES | FEATURES | BENEFITS

bhavana — Fri, 04 Dec 2009 13:23:48 +0000

We all say that life is full of uncertainties and only time holds the key to unlock what is in store for us, but we can do something to prepare for what life is going to dish up for us. We can be prepared for any circumstances with the path we choose. To achieve our dreams we need financial help and so we take loans. Kotak’s Protection Plan will help make your loan your security and not a liability.

To prepare for future means involves many things, one of which being Life Insurance, especially Kotak Loan Protection Plan which will help share the burden of your loan. This insurance plan is specially designed to be taken along with your loan as it will serve as a safety net. It will help you to reduce your tension of repayment and unburden you of your family’s worry of repayment in case of your unfortunate and untimely demise. This plan provides a reducing cover that is matched to your liability with minimum paperwork.

This is an ideal plan for you if you are planning to avail of a loan. This plan is available in single as well as regular premium.

ADVANTAGES

Protects your loved ones against untimely death, which would otherwise burden them with the loan amount.
Hassle free single premium payment option
Can be surrendered* at any point in time

*Applicable only for Single Premium plan

FEATURES

Decreasing cover

As a term product linked to home loan amount, this plan protects the loan-taker from contingencies. The loan amount at the beginning decides the cover you receive. As you repay your installments, your outstanding principal declines and the corresponding policy cover also decreases. You can take a cover of any amount; equal to or less than the actual amount of loan that has been approved.

Premium payment

You may pay premiums regularly# or as a single premium. This single premium would ensure that you get the cover for the entire term that you wish to.

# The premium payment term will be 2/3rds of the policy term rounded off to the nearest integer.

BENEFITS

Death Benefit

In the event of death during the term, the beneficiary would be entitled to the Sum Assured as per a predetermined Benefit schedule.

Maturity Benefit

Since it is a non-participating pure risk cover plan, there are no maturity benefits.

Rider Benefit

Kotak Critical Illness Benefit (CIB) is available under this plan.

Critical Illness Benefit (CIB)

The maximum Critical Illness Benefit that you can avail depends on the basic plan subject to a maximum of Rs 20 lakhs.A portion of Sum Assured (max 75%) is payable on admission of a claim on a critical illness, through this rider.

Heart Attack (MI)
Cancer
Stroke
Coronary artery by-pass graft surgery (CABG)
Kidney failure
Major organ transplants
Paralysis
Loss of limbs
Aorta surgery
Major burns
Heart valve surgery
Blindness

Tax Benefits

Section 80C, 10(10D) of Income Tax Act, 1961 would apply. Premium paid for Kotak Critical Illness Benefit (CIB) qualify for a deduction under Section 80D. Tax Benefits are subject to changes in tax laws. You are advised to consult your tax advisor for details.

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