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  • Advantages of HDFC Life ProGrowth Plans

    Advantages of HDFC Life ProGrowth Plans

    The ProGrowth Plans by HDFC Life are basically savings-cum-insurance plans that enable you to provide the best to your family today and tomorrow; even you would not be around. There are three kinds of ProGrowth Plans offered by HDFC which have discrete advantages. Given below are those three plan with their advantages:

    HDFC Life ProGrowth Plus

    HDFC Life ProGrowth Plus, a basic savings-cum-insurance policy that enables you, as a policyholder, to enjoy the benefits of a life cover and enjoy the comfort of making your investment plans by the means of it. This unit linked insurance plan helps you in making the most out of equities by the means of channelizing the saved funds effectively.

    Advantages

    • Flexibility to select amongst the 2 plan options as follows:
    • Life Option which offers Death Benefit
    • Extra Life Option that offers Death Benefit along with Accidental Death Benefit
    • Flexibility to plan your investments according to your risk appetite and return expectation
    • Flexibility to partially withdraw the funds from HDFC Life ProGrowth Plus Plan in order to meet various unplanned expenses
    • Under section 80C and section 10(10D) of the Income Tax Act, tax benefits of the HDFC ProGrowth Plus Plan are also remarkable. However, these benefits are subject to certain provisions contained in it
    • Paying premiums under the HDFC ProGrowth Plus Plan is very convenient as it offers various payment modes, such as internet banking, credit card, auto debit facility, or cheque

    HDFC SL ProGrowth Super II

    HDFC SL ProGrowth Super II is an enhanced savings-cum-insurance ULIP that helps you, as a policyholder, in planning the best for your family, with you and after you. This Unit Linked Insurance Plan is designed to support you in achieving long term savings for you and your family’s future.

    Advantages

    • This savings plan allows you to choose amongst the following eight plan options:
    • Life Option with Death Benefit
    • Extra Life Option with Death Benefit in addition to Accidental Death Benefit
    • Life and Health Option that offers Death Benefit along with Critical Illness Benefit
    • Extra Life and Health Option that offers Death Benefit along with Critical Illness Benefit and Accidental Death Benefit
    • Life and Disability Option that offers Death Benefit in addition to Accidental Total and Permanent Disability Benefit
    • Extra Life and Disability Option with Death Benefit in addition to Accidental Death Benefit and Accidental Total and Permanent Disability Benefit
    • Life and Health and Disability Option which offers Death Benefit addition to Critical Illness along with Accidental Total and Permanent Disability Benefit
    • Extra Life and Health & Disability Option that allows Death Benefit Plus Accidental Death Benefit, Critical Illness, and Accidental Total and Permanent Disability Benefit
    • HDFC SL ProGrowth Super II Plan ensures your family’s protection when you would not be around. In the unfortunate event of your demise during the term of the policy, the insurer will pay the Sum Assured along with the total fund value to the beneficiary or the nominee.
    • To avail this policy, you just need to fill up a short medical questionnaire, that might not necessitate you to undergo medical checkups
    • You can manage your investment funds either by switching funds from one fund to another or by redirecting future premiums into other funds
    • Then plan also offers some considerable tax benefits as per section 80C and section 10(10D) of the Income Tax Act.
    • The plan also offers convenient payment of premiums through multiple modes, such as – internet banking, auto debit facility, or credit cards

    HDFC SL ProGrowth Flexi

    It is wise to be prepared in advance so as to accomplish all the goals of your life in a way that safeguards your funds. To help you do the same, HDFC has designed SL ProGrowth Flexi Plan which is a savings-cum-insurance ULIP. This plan ensures financial security of your family in you absence by insuring you against unforeseen eventualities of life and helping you save for your future needs.

    Advantages

    • This investment plan provides valuable safeguard to your loved ones. In the unfortunate event of your untimely demise during the term of the policy, the beneficiary will be entitled to the greater amongst the Sum Assured of the plan or the total fund value of the insured life
    • When the policy matures, you can either receive the total Fund Value at existing unit prices j the form of a lump sum or go for the for settlement option
    • The plan allows you to channelize your corpus from one to another fund option at any time or forward the future premiums of the plan towards a different range of funds
    • The plan also offers tax benefits under the section 80C and section 10(10D) of Income Tax Act.

    Premium payment under this plan I also very convenient through its various modes, like internet, credit card, auto debit facility, or cheque

  • Protect Your Family against all Odds with Savings Plans by Bharti AXA Life Insurance

    Protect Your Family against all Odds with Savings Plans by Bharti AXA Life Insurance

    You must be planning wisely to invest your hard-earned money at different stages of life in order to gain the maximum profit in the future.Well, before youactually start investing, you must have adequate knowledge of the specific area of the market, as it might be risky and could lose your lifelong savings in the name of investment. Bharti AXA Life Insurance offers you the best investment plans to live up to the expectations of your family members. These investment plans power you to live out your dreams and realize those of your loved ones going forward.

    Bharti AXA offers a variety of life insurance plans, savings plans, protection plans, health plans, and rider options.Below are its investment plans explained:

    Bharti AXA Life Future Invest Plan

    This investment plan requires you invest your money for a specific period to gain considerable returns when the policy term ends.You can avail these benefits over a period of 10 years by paying a single premium or for 5 years.

    Eligibility for the plan

    • Policy entry age (minimum): 18 years
    • Policy entry age (maximum):59 years
    • Maturity age (maximum): 69 years
    • Policy term: 10 years
    • Premium payment term: Single or 5 years
    • Modes of premium payment: Single, Yearly, Half-yearly, Quarterly, Monthly

    Features & Benefits

    • Option of flexible partial withdrawals
    • Post-maturity investment option
    • You have full control on your investments
    • Tax benefit u/s 80C and 10 (10D) of Income Tax Act, 1961

    Key Highlight of the plan

    • You get guaranteed good returns at the end of the policy term for an investment over alimited time frame.

    Bharti AXA Life eFuture Invest

    This plan is a unit-linked investment plan and is available online with the benefits of life cover and considerable returns on maturity. With this plan, you can avail benefits over a period of 10 years while premium payment is only a single one or for 5 consecutive years.

    Eligibility for the plan

    • Policy entry age (minimum): 18 years (as on last birthday)
    • Policy entry age (maximum): 59 years (as on last birthday)
    • Maturity age (maximum): 69 years (as on last birthday)
    • Minimum premium:
      • For 5 years policy – yearly: Rs.18, 000; half-yearly: Rs. 9, 000; quarterly: Rs. 4, 500; monthly: Rs. 1, 500.
      • For single payment–Rs. 25, 000
    • Maximum premium:
      • For 5 payments: Rs. 1, 00, 00, 000
      • For Single payment: Rs. 8, 00, 00, 000
    • Policy term: 10 years
    • Premium payment term: Single or 5 years
    • Modes of premium payment: Single, Yearly, Half-yearly, Quarterly*, Monthly*

    *Payments should be through ECS only.

    Features & Benefits

    • Quick and easy online availability
    • No extra charges like processing fee, commission pay, fund management, policy administration etc.
    • No allocation charges
    • Fixed policy term of 10 years
    • Premium payment for 5 years or single pay
    • Higher sum assured at policy term end
    • Tax benefit on premiums paid and benefits received u/s 80C and 10 (10D) of Income Tax Act, 1961
    • Post-maturity investment option

    The protection plans offered by Bharti AXA are not only affordable but also comprehensive. Bharti AXA term insurance is highly recommended to those whoplan long-term goals for their family.

  • Does My Zipcode Affect My Insurance Rates?

    Does My Zipcode Affect My Insurance Rates?

    Although you may not realize it, where you live has a great impact on your insurance rates. Certain zip codes are “red flagged” by insurance companies, and if you reside in that area, you could be in for steeper rates than your neighboring areas.

    This may seem strange, but it is all based on risk assessment. Certain areas simply have more accidents than others. Often, this is due to traffic volume; places with more traffic have more accidents. Sometimes, however, the differences are more subtle and difficult to understand.

    Risk is a calculation the company makes based on how many drivers whose description is close to yours have accidents annually. For example, a forty-five-year-old male with no previous accidents living in suburban Philadelphia or New York will be classed with other forty-five-year-old males in that area. The number of accidents these men have in one year will determine the risk for that pool of insurance applicants.

    This means that risk rates affect your insurance premium rates. While your individual driving record is important, you are also classified with a group over which you have little to no control. This may seem unfair, but it is the way insurance companies are able to stabilize prices for everyone, no matter the groups to which they may belong.

    Sometimes, the presence of large numbers of high-risk drivers may also increase your rates. This is because more high-risk drivers mean more likelihood that you will be involved in an accident, whether it is your fault or not.

    For example, if an area has a high volume of younger or older drivers, rates may be increased. This is because these areas are statistically more likely to have accidents caused by these drivers. While this may seem odd to people living in this area, which may not have a huge volume of traffic, it is explained by statistical probability.

    Similarly, when an area is close to a large city, it tends to have higher rates. This is because it is assumed that people living in this area travel into the city to work, shop, or engage in other activities. Ironically, some of these people in the suburbs may spend little time in the city; however, they still have the higher rates than those who live in suburbs located farther from the city center. In fact, people who live farther from the city and drive in to work every day may actually have lower rates than those who live closer to the city, even if they rarely visit the city itself.

    While this may seem perplexing, it is important to remember that everyone in a particular zip code has the same problem. Higher rates apply to an area, and not to an individual. If your driving record is clean, if you are older than 25, and if you pay your insurance bill promptly, you will enjoy the lowest rates possible for your zip code.

    It is not always certain that living close to a large city or in a certain zip code results in higher rates. If you take low-mileage insurance, your rates may decrease significantly. This is because low-mileage insurance is designed for people who do not drive very often. It is proof to the insurance company that your risk of an accident will be lower.

    Another case where your rates may not rise is if your auto insurance company makes a distinction between driving to work and driving for pleasure. If your company is smaller and is located in the area in question, they might make a distinction between those who drive in a major city and those who remain in the suburbs. However, most companies follow the process of basing rates on zip codes, rather than making these distinctions.