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I find a problem in view comments from 2nd page and above
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Need a precise comparison
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I think anonymous posts should be banned. There is no proper content in anonymous posts.
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My whole family is covered for medical insurance from the company where I am currently working .
Is there a benefit if I take a personal health insurance family cover? As for as my understanding dual claim is not allowed.
If so what are the advantages and downside?
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Do not just go by the hype about LIC.
I agree LIC settlement rate is good. Their reputation also good.
But new players SBI Life, ICICI Pru, Birla Sunlife etc are doing exceptionally good job and most imporantly GOOD SERVICE, but for a low premium compared to LIC.
Look at the market share in now, slowly LIC is coming down and other players come up.
SBI Smart Shield Term insurance
27 Yrs(non smoker) - 50 lakhs - 30 yrs - Rs.8982/- (look at the difference in premium. where is LIC?)
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I am planning for tem insurance policy.
I am comparing between
LIC (Amulya. Premium is high compared to others)
SBI Life (Smart Shield. Decent Premium with addition riders and increaing cover)
ICICI Prudential. (iProtect. Less premium)
Out of these, who is most reliable/hassleless in terms of settlement.
We take insurance to protect family in case of death.
I do not want them to suffer getting the settlement, the the purpose of PRETECTION is lost.
Please suggest.
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I am looking for term policy upto 50 lacs.
Premiumwise I felt SBI Smart Shield is nominal. But what is the settlement ration? Are they good in settling? If not, what are other suggesstion.
I trust LIC more. But their premium (Anmo, Amulya) are 20-30% more than SBI Life.
In relation with term insurance I would like to understand below terms also. An example will be helpful.
*Accelerated Critical Illness Cover Option
*Accidental Death Benefit Rider (UIN: 111B015V01)
*Accidental Total & Permanent Disability Benefit Rider (UIN: 111B016V01)
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bandhakavi wrote:No its a wrong perception. I will not completely agree with this point especially in case of Non earning member is a House Wife because, if something happened to her there a economical loss to the family, like one need to arrange for a cooker, cleaner, child care taker, home care taker etc., if you consider these points, then i will strongly recommend even non earning member (if it is spouse) must required Insurance on their name.
Regards
Bandhakavi - Wealth Expert
But what if the earning memeber does/ then the housewife is liable to pay her premium withour earning?
Payment from earning member's compensation is not fair. STRONGLY DISAGREE.
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Stop your false promises. Even LIC doesnot assure guaranteed return in the case of ULIP.
I know people who burnt their fingers even after 3 years of premium in Money Plus. Talking great things are not great. In short, "ULIPs are riskier and no return guarantee even for the premium."
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Thanks.
This short answer given me lot of clarity for most of my questions.
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It is not a valid reply . Please post the correct reply.
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Finance Minister announced new tax slabs applicable for 2010-2011.
When I calculate tax using below link, I am only seeing a minor difference as compared to 2009-2010 for an income of 10 lacs.
Is the calculation correct? Only a thousand will be the effective gain?
http://law.incometaxindia.gov.in/DIT/Xtras/taxcalc.aspx
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I have paid 8 premiums(Apprx Rs.36,000) for 1 lac policy. If I do not pay any more premiums what would be the maturity amount the child receive?
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Please suggest any single premium Children's policy fom LIC
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It may be true if I surrender at the end of term.
Please note that I am surrendering the policy in the middle of the term. (see details in my post)
The below extract I found from LIC site related to Jeevan Anand policy. for your reference
Guaranteed Surrender Value:
The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium. Any extra premium(s) paid and premium(s) towards Accident Benefit are also excluded.
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because if any unfortunate thing happens to earning member, the non-earning member is liable to pay premiums thereon. So there is burden on the non-earning member whose life is insured.
Please share your thoughts.
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Before approving any home loan banks take admin/processing fee and they say that includes document verification and lawer opinion etc.
Shall I assume if a loan is approved against a property, then the property has all clear titles, documents and it is out of all legal isues?
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What is the premium yearly or single premium?
No premium information available in ICICIPruLife website.
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Date of Birth of Policy Holder : May, 1975
Policy : Jeevan Anand (T. No. 149)
No. of premium paid so far : 8
Amount paid so far : 61848
Commencement : Jul, 2002
Sum Assured : 1,00,000
Policy Term : 15 Years
Premium : 7731 (Yearly)
Accured Bonus : 28,200
I had paid the premiun till last due, that is Jul, 2009.
If I surrender the policy what is the amount I will recieve?
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Thanks for the answers and thanks for patience shown to answer for long list... 
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Any update on this query due for long time?
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Consult any LIC agents. LIC has lot of insurance policies to coveruo your need.
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Please give directions...
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I am eligible for Rs.72000 LIC loan under my 3 LIC policies.
What is the interst rate or that loan? What are other terms and conditions?
If I avail the loan will there be any risks or losses related to my policy maturity, added bonus etc.
Please give me the details. Also provide me the internet site link for these information.
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I hear there is a locking period and usually for 3 years.
Can somebody explain fundamental behind this locking period?
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Dear Folks,
Any updates on the information requested?
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You need to get clarity from Bank. The premature penalty og 0.5% is on what
1) The principal
2) Interest earned so far
3) principal +interest earned so far
It could vary from bank to bank...
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Leaving exceptional cases, AVOID insure on non-earning member.
It is a better idea to insure the earning member. So that, anything happens to earning member, the non-earning member is benefited with insurance claim.
If the insurance is taken on non-earning member, if undesirable thing happens with earning member, then non-earning member is liable to pay. But, non-earning member has no way to pay the premium in this case.
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The information looks attractive.
But I am unable to find any information in LIC site, or even through google search.
How do I get more information about the product? How shall I open a LIC FD?
Can you give me an official link where I can find more info?
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Dear Kishor,
Thanks for adding more clarity.
I have not got full clarity on below items
1.At this point of time, is it possible to change the beneficiery?
2. Is it possible to add additional beneficieries to this policy, so that multiple children are benefited at maturity?
3. If Beneficiery and Nominee are not same then what is the difference?
4. Can both beneficiery and nominee the same person?
5. Can the beneficiery and nominee a major and already got married (i have this question bcos the policy is Marriage endowment policy)
6. I had taken the policy to help my nephew. Now I would like to give the benefit to more than one children in my family. what are the advised ways of achieving this?
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Dear Hemant ,
Thanks for the attention, commitment, and support.
This is my first post and VERY SATISFIED with the service.
I will recommend to people surrounding me to make use of this site.
I would rate this site is information/solution provider for ALL INVESTMENT NEEDS UNDER ONE ROOF.
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So suprising..
No one have answer?
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I have taken a Marriage Endowment policy (T-90) policy of 1 lac for 21 years commenced from Nov2002.
I am the policy holder and my nephew is the beneficiery.
My queries :
1. If I am alive on maturity, the amount will be given to me or to the beneficiery
2. If anything happens to me in the middle
a) to whom the amount will be disbursed (if beneficiery is still minor)
b) when the amount will be disbursed (immediately after death of policy holder or only after maturity)
3. At this point of time, is it possible to change the beneficiery?
4. Is it possible to add additional beneficieries to this policy, so that multiple children are benefited at maturity?
5. Is the term Beneficiery and Nominee are same?
Note:
I had taken the policy to help my nephew. Now I would like to give the benefit to more than one children in my family. what are the advised ways of achieving this?
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