For Whom Wealth Matters
June 6, 2016 Leave a comment
https://www.youtube.com/watch?v=f009A4ZUHGc
Exide Life Insurance has come out with a pretty decent new plan they call the Exide Life Income Advantage Plan : Link.And I find quite a few things about it that I like. Read more of this post
January 19, 2016 Leave a comment
This ad from Exide Life got me thinking about Jugaad.
https://www.youtube.com/watch?v=93rmPxakndY
When you’re just starting out with next to nothing in hand, there is nothing like jugaad to take you ahead in the money game. With a bit of jugaad you can stretch the money you have to do more,save money to put together capital and use whatever resources you have at hand or lay hands on to get started on doing what you wish to be doing to start making money. Its sort of like Jugaadulal wearing his helmet to cut onions comfortably. Its pretty sensible, if soaking onions in water before cutting them doesn’t work. Read more of this post
August 18, 2014 Leave a comment
Life insurers like HDFC Life, Aviva India and Bajaj Allianz have started focussing heavily on the online platform for selling ULIPS (unit-linked insurance plan), promoting them as low-cost products, in the last few months.These policies are cheaper than their offline counterparts, as the savings made on agents’ commissions are passed on to policyholders in the form of lower premium allocation charges.
Insurers are launching these online Ulips to counter distributors’ reluctance to promote ULIPS . Over the last four years (post September 2010, when IRDA imposed a cap on ULIP charges), many agents and brokers have stopped selling ULIPS.
While the broad structure of a lowcost ULIP sold online is similar to a regular ULIP, slashing of premium allocation charges is the key differentiating feature. HDFC Life’s online ULIP has completely done away with allocation charges.It only charges fund management fee and a risk premium for mortality cover and on this aspect, directly competes with ELSS Mutual funds. The entire premium paid by the customer gets invested. Aviva’s product levies a premium allocation fee of 4-5%, compared to its offline counterpart that charges 8-9%. Bajaj Allianz’s online ULIP levies premium allocation charges ranging from 0-5.5% in the first five years, depending on the premium amount and year. Read more of this post
May 19, 2014 1 Comment
If wealth building,wealth protection,estate planning,legacy planning,cash management etc. are not priorities,then an online term plan is probably the best life insurance product you can purchase.
At long last,the LIC has come up with its own online term insurance plan.The premium as you can see is on the higher side.
Obviously lower premiums are the way to go.But before you decide anyway,go over the exclusion clauses to ensure that all situations that can possibly apply to you are covered,else you will be purchasing an umbrella with holes.Also be certain that if your insurer has been around for more than 10 years,the company has a settlement ratio above 90%,else you are likely entering into a vital contract with a less than reliable partner.
March 19, 2014 1 Comment
Guinness World Records has announced the World’s Biggest Life Insurance Policy ever issued.
However,neither the record keeper nor the issuer would say who is covered by the massive policy.Dovi Frances, the adviser who arranged the policy, would only say it went to a well-known technology billionaire from California.
The wealthiest of the wealthy often buy life insurance for several reasons.Primary among them are tax purposes.In many countries,a wealthy estate is often hit with a hefty tax bill, and there may not be enough cash to cover it, since many millionaires and billionaires hold their wealth in investments.
This $201 million policy overtakes the previous record of $100 million.It is more complicated than most. It’s underwritten by 19 different insurance companies, each with a slice of less than $20 million. If a single company took the risk of the whole policy they would go into bankruptcy if a claim were to be made.
The yearly premium is in the low single-digit millions.
wealthymatters 