The market for Immediate Annuity plans in India is just beginning to emerge. In the time to come, this will emerge as a favourable avenue for retirees to park their funds and get an income from it till the end of their lives. Parameters to compare immediate annuity plans in India 1. The Type of immediate annuity plan that YOU want There are several types of immediate annuity plans. When you compare, ensure that you are comparing between the same type of plans from different companies. … [Read more...] about How to Compare Immediate Annuity Plans in India
Search Results for: term
You must have at some time or the other bought a product or service online. These days it could be any out of a movie ticket, a train or air ticket, a book, clothes and even groceries. Then why not insurance? - you may ask. Well, some of us are still not comfortable because even today, insurance, unlike any of the products/services I mentioned earlier, is largely a product which is sold and not bought. Here's why all that is changing now. Following are the myths about buying … [Read more...] about Online Insurance – 5 Myths About Buying in India
The most common annuity plan you will hear about is Immediate Annuity for Life with Return of Purchase Price. But what really does all that mean? Before you dive into making your choice, read what are the options and what suits you best. Because once you start an Annuity plan, it may be expensive or sometimes impossible to get out of it for the rest of your life! The Immediate Annuity Plans market in India is just taking flight. LIC has always been the first, but of late many private life … [Read more...] about What are the Types of Immediate Annuity Plans available in India?
What is an Immediate Annuity? Imagine you are 60 years old and have Rs. 1 crore as savings including Bank balances, FD, MF, shares, etc. and excluding your house and land. Your income has stopped because you have retired from service now. You now want to use your savings to generate income every month, to take care of your own and your spouse’s regular living expenses. This is where an annuity plan comes in. Go to a life insurance company and deposit the Rs. 1 crore into an annuity (also … [Read more...] about Immediate Annuity Plans – What are they?
Of late you will see and hear ads of a lot of companies (life insurance companies, mutual funds, sometimes even banks and NBFCs, financial advisory companies, etc.) yelling on top of their voice about planning a fund for your child. The cause they are promoting is definitely good. But remember that all such plans are not the same. Specifically, an education insurance plan is very different from all others. You may need a combination of multiple plans to have a solid foundation for your … [Read more...] about Child Plan or Education Insurance plan – Do I really need it?
This article is applicable for FY 2014-2015 and is updated as per the Budget announcements on July 10, 2014. It explains the inclusions of this Section in detail, however if you want to know the tax benefits of 80C, 80D and 80CCC specifically with respect to Life Insurance and Pensions, you could also read the article 80C, 80D & 80CCC – Save Tax with Life Insurance, Health Insurance and Pension plans. Tax Benefits under Section 80C Section 80C was introduced by the Finance … [Read more...] about Tax Benefits under Section 80C, 80CCC and 80D: FY 2014-2015