Saturday, 24 February 2018

Medi Classic Individual Health Insurance plan !!



Medi Classic is a Health Insurance plan that provides for  reimbursement of Hospitalization Expenses incurred as a result of illness, diseases, sickness or accidental injuries.

Features:
Discount of 5% in case the term is 2 years
The sum insured is automatically restored by 200% when basic insured is fully exhausted
More than 100 Day care treatments are covered
No Medical tests are required up to 50 years of age
Non-allopathic treatment is also covered
Hospital Cash benefit available, if opted
Network of more than 6000 Hospitals accorss India
Tax rebate available as per provision of Income Tax Rules under section 80-D

Benefits:
Room Rent Limit-Up to 2% of sum insured, max 5000
Pre-Hospitalization Expenses-60 days
Post Hospitalization Expenses-90 days
Minimum Hospitalization Period-24 Hrs
Automatic Restoration of Sum Insured-Up to 200% of basic sum insured
Pre-Existing Disease / Illness coverage After 48 months
Waiting Period for New Policy-30 days
Co-Payment-Up to 10% for age above 60 years

For More Details Visit: LifeLine Insurance & Financial Expert

Saturday, 17 February 2018

How to Save and Invest for Child's Education !!





Find out how you can accumulate enough funds for your children’s studies when Higher Education costs are shooting up. 

The class of 2018 of the Indian Institute of Management-Ahmadabad will pay Rs.19.5Lakhs for the two-year course. This is 400% higher than what the premier B-school charged in 2007. If the fees  of the two-year management course continues to rise by an average 20% every year, it will cost roughly Rs.95Lakhs in 2025.

Even undergraduate courses have not been spared. The tuition fee for engineering courses in the Indian Institute of Technology (IIT) has been hiked from Rs.90000 to Rs.2Lakhs per annum. This is just the tuition fee--the total cost is much higher. At an average running inflation rate of 10%, a four-year engineering course that costs Rs.8Lakhs today is likely to set you back by Rs.17Lakhs in another eight years’ time. By 2030, the same would cost more than Rs.30Lakhs. If you have not planned well, you could get a rude shock, falling way short of the required corpus when your kid is ready for college. In fact, for engineering and medical aspirants, the costs start even while the student is in high school. Coaching institutes charge anywhere between Rs.80000-Rs.1Lakh a year for preparing the student for the entrance exam.

This sharp spike in fees is a wakeup call for parents saving for the higher education of their children. “Higher education costs have the highest inflation rates in the country. Parents need to realize it is going to be an expensive affair.

As mentioned earlier, the cost of higher education is shooting up. Many parents who started late or chose the wrong investment vehicles may find themselves woefully short of the target. If you face a shortfall, don’t be tempted to dip into your retirement corpus to fill the gap. This is a mistake. Your retirement should be given priority over your kids’ education Instead you should take an education loan with the child as a co-borrower.

As mentioned earlier, the cost of higher education is shooting up. Many parents who started late or chose the wrong investment vehicles may find themselves woefully short of the target. If you face a shortfall, don’t be tempted to dip into your retirement corpus to fill the gap. This is a mistake. Your retirement should be given priority over your kids’ education Instead you should take an education loan with the child as a co-borrower.

The entire plan can crash. The only way to guard against this is by taking adequate Life Insurance. A term plan does not cost too much. For a 30-35 year old person, a cover of Rs.1Crore will cost barely Rs.10000-Rs.12000 per year. That is too small a price for something that safeguards your biggest dream.

For More Details Visit: LifeLine Insurance & Financial Expert

Saturday, 10 February 2018

Why we don’t have to ignore Life Insurance during Financial Planning !!





A financial planning not only helps to provide adequate resources for your current needs but also helps to save enough to meet the future financial goals of your family.A financial planning is to ensure that the lifestyle and life stage goals of you and your Loved ones are fulfilled. Life Insurance is often purchased more from either an investment / tax savings perspective rather than its true purpose of protection.

It is our primary responsibility to safeguard the future of our families in case something was happen to us. Without a Life Insurance policy, If the breadwinner is not around anymore wealth creation plans will remain incomplete. Hence, before anything else happen, it is critical to determine your Life Insurance need for the sake of your family.

Life Insurance is not just about protecting Loved ones from the risk of financial stress due to the breadwinner dying too early. It also plays an important role in building of amount to meet various life stage needs through disciplined savings. To meet the dual purpose of savings and long term protection, there are many efficient endowment plans which provide life cover, create long term wealth, provide financial support to enjoy peace of mind as well as prove to be an effective tax-saving instrument.

While looking to purchase a life insurance policy, bear in mind that the insurance plan you choose should ideally offer a combination of adequate protection from risk while ensuring that your family’s financial liabilities are met without causing additional financial burden and that the continuity of the lifestyle that they enjoy is maintained. We must realize that life insurance is uniquely different from all other financial products because it has the protection of your financial interests as its core proposition and thus should be the foundation of everyone’s financial plan.

For More Details Visit: LifeLine Insurance & Financial Expert

Thursday, 1 February 2018

How Insurance Works !!




Insurance is one of the Most Important financial Investments an Individual will make in their Lifetime. Insurance Policy could ensure that your Family is looked after well & are Financially Secure in case of an Unfortunate Event.

Risks and Uncertainties are part of Life's accident, illness, theft, natural disaster they are waiting to happen. Insurance then is answer to the uncertain risks of life. If we cannot beat man-made and natural calamities, well, at least be prepared for them.

Insurance is a contract between two parties - the Insurer (the insurance company) and the Insured (the person seeking the cover) wherein the Insurer agrees to pay the insured for financial losses arising out of any unforeseen events in return for a regular payment of "premium". These Unforeseen events are defined as "Risk" and that is why Insurance is called a Risk Cover. Hence, Insurance is essentially the means to financially compensate for losses that life throws at people.

Roles of Insurance

1) Insurance as “Investment”

Insurance is an attractive option for investment. While most people recognize the risk hedging and tax saving potential of insurance, many are not aware of its advantages as an investment option as well.

2) Insurance as “Risk cover”

First and foremost, insurance is about risk cover and protection - financial protection, to be more precise - to help outlast life's unpredictable losses. Designed to safeguard against losses suffered on account of any unforeseen event, insurance provides you with that unique sense of security that no other form of investment provides. By buying Insurance, we buy peace of mind and are prepared to face any financial demand that would hit the family in case of an untimely demise.

3) Insurance as “Tax planning”

Insurance serves as an excellent tax saving mechanism too. The Government of India has offered tax incentives to life insurance products in order to facilitate the flow of funds into productive assets.


For More Details Download Insurance Guide: LifeLine Insurance & Financial Expert


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