Buying life insurance protects for your dependents after you. It provides financial security, helps to pay off debts, live life smoothly even after you. Life insurance can give you lasting peace of mind in terms of the assurance that you have provided a legacy. It gives… Guaranteed protection, Income replacement, Guaranteed cash value growth
LIC is one of the largest insurance companies in India which offers wide range of life insurance plans. LIC offers term plans with affordable premiums and high coverage. LIC has good Claim Settlement ratio compare to other Life Insurance Companies. It has raised Trust over the years. With its customer-centric approach, LIC has become one of the top Life Insurers in India, and 5th largest in the world. For more details, you can call me on my given number in Contact Us page.
We never know because Emergency never knocks, it comes suddenly. Risinsg medical costs shouldn’t be the hurdle to get superior medical treatment. We should have Health Insurance because it protects our savings during medical emergencies. It provides cashless claim benefit, which allows you to take care of your health instead of worrying about hefty medical bills.
Changing the nominee in LIC policy is a simple process. You need to notify the Life Insurance Corporation of India by filing form 3750. Documents required for nominee change...1) Form 3750 2) The relationship proof between the policyholder and the person being nominated. 3) Policy contract (for endorsement). 4) The LIC policy photocopy You can make this change multiple times during your policy term.
You can update your Contact Address on your policy based on Offline Aadhaar. Tap on the below given link and follow the process. Link : https://ebiz.licindia.in/D2CPM/?_ga=2.155407163.1855131267.1643959747-1137006311.1629281366#SelfAddressChange
You can pay premium online by clicking on the link given below. https://licindia.in/Home/Pay-Premium-Online It will redirect you on LIC website. If you don’t want to register then you can select ‘Pay Direct’ option. 1) Select Renewal option from the drop down list. 2) Put Policy No, DOB, Mobile Number, Email id & Premium (without any tax) 3) And Pay the Premium
A mutual fund is a pool of money managed by a professional Fund Manager. It is a trust that collects money from a number of investors who share a common investment objective and invests the same in equities, bonds, money market instruments and/or other securities. And the income / gains generated from this collective investment is distributed proportionately amongst the investors after deducting applicable expenses and levies, by calculating a scheme’s “Net Asset Value” or NAV. Simply put, the money pooled in by a large number of investors is what makes up a Mutual Fund. Here’s a simple way to understand the concept of a Mutual Fund Unit. Let’s say that there is a box of 12 chocolates costing ₹40. Four friends decide to buy the same, but they have only ₹10 each and the shopkeeper only sells by the box. So the friends then decide to pool in ₹10 each and buy the box of 12 chocolates. Now based on their contribution, they each receive 3 chocolates or 3 units, if equated with Mutual Funds. And how do you calculate the cost of one unit? Simply divide the total amount with the total number of chocolates: 40/12 = 3.33. So if you were to multiply the number of units (3) with the cost per unit (3.33), you get the initial investment of ₹10. This results in each friend being a unit holder in the box of chocolates that is collectively owned by all of them, with each person being a part owner of the box. Next, let us understand what is “Net Asset Value” or NAV. Just like an equity share has a traded price, a mutual fund unit has Net Asset Value per Unit. The NAV is the combined market value of the shares, bonds and securities held by a fund on any particular day (as reduced by permitted expenses and charges). NAV per Unit represents the market value of all the Units in a mutual fund scheme on a given day, net of all expenses and liabilities plus income accrued, divided by the outstanding number of Units in the scheme. Mutual funds are ideal for investors who either lack large sums for investment, or for those who neither have the inclination nor the time to research the market, yet want to grow their wealth. The money collected in mutual funds is invested by professional fund managers in line with the scheme’s stated objective. In return, the fund house charges a small fee which is deducted from the investment. The fees charged by mutual funds are regulated and are subject to certain limits specified by the Securities and Exchange Board of India (SEBI). India has one of the highest savings rate globally. This penchant for wealth creation makes it necessary for Indian investors to look beyond the traditionally favoured bank FDs and gold towards mutual funds. However, lack of awareness has made mutual funds a less preferred investment avenue. Mutual funds offer multiple product choices for investment across the financial spectrum. As investment goals vary – post-retirement expenses, money for children’s education or marriage, house purchase, etc. – the products required to achieve these goals vary too. The Indian mutual fund industry offers a plethora of schemes and caters to all types of investor needs. Mutual funds offer an excellent avenue for retail investors to participate and benefit from the uptrends in capital markets. While investing in mutual funds can be beneficial, selecting the right fund can be challenging. Hence, investors should do proper due diligence of the fund and take into consideration the risk-return trade-off and time horizon or consult a professional investment adviser. Further, in order to reap maximum benefit from mutual fund investments, it is important for investors to diversify across different categories of funds such as equity, debt and gold. While investors of all categories can invest in securities market on their own, a mutual fund is a better choice for the only reason that all benefits come in a package.
Broadly speaking, life insurance covers death of the policyholder from all natural causes. In addition to this, life covers also offer financial protection in case the policyholder passes away due to any illness or accident.
Buying life insurance protects your spouse and children from the potentially devastating financial losses that could result if something happened to you. It provides financial security, helps to pay off debts, helps to pay living expenses, and helps to pay any medical or final expenses.