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Showing posts with label Life Insurance. Show all posts
Showing posts with label Life Insurance. Show all posts

Read every scheme related to SBI Life Saving Plan here

READ EVERY SCHEME RELATED TO SBI LIFE SAVING PLAN HERE

Read every scheme related to SBI Life Saving Plan here

SBI Life's savings plan helps a person to get ahead in life as it also has a life insurance cover. The risks are also less in this as well as this you can go to your child's education, marriage for yourself and go somewhere else. That is why today we are going to tell you about some such SBI Life Saving Plans.

SBI Life - Smart Women's Advantage 

State Bank of India (SBI) introduced the 'SBI Life - Smart Women's Advantage' scheme. Women are the main focus in SBI Life. Under this scheme, women will be given life insurance cover, savings and help in serious diseases caused by women. SBI Life said that it is a traditional endowment plan based on personal benefit which also incorporates the health concept. It also has an optional benefit for other problems occurring during pregnancy. According to the release, tax benefits will also be given under Income Tax Section 80D and 80C for both health benefits and life insurance cover in this policy.

SBI-Smart Swadhan Plus 

There are two benefits of this plan, one is that it will provide you a lifetime of security and secondly, in case of survival at the time of maturity, you will get 100% of the total basic amount paid during the entire period for a lump sum. Will return as Not only this, a person will also get tax benefits under Section 80C on his premium payment. Also, according to Section 10 (10D), the money of the maturity will also be available.

Read every scheme related to SBI Life Saving Plan here

SBI Life Smart Humsafar 

Smart Humsafar Joint is a non-linked participating endowment plan. It has the benefits of savings and insurance cover for both husband and wife. This is the first such plan in which both husband and wife are put together in a plan. The minimum bonus for the first 3 years in this plan is 2.50%. If either of the two husband and wife dies, then at the end of maturity of this policy, they will get full money.

Read every scheme related to SBI Life Saving Plan here

SBI Smart Money Planner 

Now you can avail both regular income and security benefits for your family under a single plan through Smart Money Planner. This Endowment Assurance Plan with benefits provides full life cover, regular income throughout the entire period of benefit payment. It also gives you life cover without paying any premium.

Read every scheme related to SBI Life Saving Plan here

SBI Life-Flexi Smart Plus 

Flexi Smart Plus helps a person fulfill his / her dreams. Not only this, it will also give you this benefit to suit the ever-changing needs. A minimum bonus interest rate of 1.00% p.a is guaranteed for the entire term. Also, every interim bonus interest rate will be announced in the financial year. That too will apply to this policy. You can also withdraw money from this policy if you need money.

Read every scheme related to SBI Life Saving Plan here

SBI Life-Smart Guarantee Saving Plan 

The Smart Guarantee Saving Plan promotes your savings or savings. Along with this, it also has insurance cover for the whole family. There are many benefits to this saving policy such as the hijab of premium amount at the end of every year will increase this policy. The policy holder only has to pay the premium for a limited period of 7 years.


Friends, I tried to tell you in full detail about People are taking Read every scheme related to SBI Life Saving Plan here, if you liked it, you can also share it with your friends, and if you have any questions, you can ask in the comment is.

If you want to surrender a life insurance policy, then know these things, you will remain in profit

IF YOU WANT TO SURRENDER A Life Insurance POLICY, THEN KNOW THESE THINGS, YOU WILL REMAIN IN PROFIT

If you want to surrender a <b>Life Insurance</b> policy, then know these things, you will remain in profit
If you want to surrender a Life Insurance policy, then know these things, you will remain in profit

You will get more benefits by surrendering the traditional plan and investing the premium in equity funds. It is another matter that the premium paid in it will definitely be lost. Let's say that a 30-year-old man buys four 20-year endowment plans. Each of these gets a cover of 3 lakh rupees. For these, he will pay 60,000 rupees as premium in a year.

If you want to surrender a <b>Life Insurance</b> policy, then know these things, you will remain in profit
If you want to surrender a Life Insurance policy, then know these things, you will remain in profit

First case: Let's say that you surrender the policy before three years. In this, the premium is paid for two years.

Loss of premium: Rs. 1.2 lakhs,
at the rate of 6 percent, the amount to be paid after the policy matures: Rs. 20.29 lakhs
Amount to be paid for applying 60,000 rupees in equity for 12 years at the rate of 12%: Rs.35.25 lakhs, despite the loss of premium, the amount earned in 18 years: Rs. 34.04 lakhs

Second case: Policy is surrendered on payment of 5 years premium

Loss of premium: Total amount of premium paid (Rs 3.6 lakh) - Surrender Value * = Rs 3.08 Lakh The

policy is run for the entire duration at 6% Amount to be paid on maturity of Rs. 20.29 Lakh: Rs 60,000 in equity at the rate of 12% for 15 years. Rs. 23.57 Lakh Amount earned in 15 years despite loss of premium: Rs. 20.49 Lakh.
* There may be a slight change in the actual surrender value.

If you do not know what will happen when you surrender the policy, then see the answers to these questions:

What is surrender value? 

In the case of Life Insurance, you get back some part of the amount paid as a premium when you surrender the policy before running it for the entire duration. Charges are deducted in it. This amount is called surrender value.
If you want to surrender a <b>Life Insurance</b> policy, then know these things, you will remain in profit
If you want to surrender a Life Insurance policy, then know these things, you will remain in profit

Will I get surrender value on all Life Insurance policies? 

No. Surrender value is refunded only in those policies in which insurance also has a share of the investment. Therefore, there will be no surrender value in the pure term plan. At the same time, traditional plans like endowment, moneyback and ULIP have surrender value.

What is the surrender value when you stop paying premium?

No. You will get a part of your money only if you have paid the premium continuously for two years. (If the period of premium payment is less than 10 years). This has been done for three years if the premium payment period is more than 10 years. If you surrender the policy earlier, then you do not get any money back.

Can insurance be stopped by paying premiums? 

Yes You can change the policy to a paid-up policy. However, this option opens only after paying the premium for 2/3 years. In this way, the cover continues till maturity even if the premium is stopped. In this case the size of the cover will be reduced and will be in proportion to the premium paid. This sum insured is called paid up value. 
It is calculated based on the formula stated below :-
Paidup value = Basic Sum Assured x (Number of premiums paid / Number of premiums payable)

How much money do you get back in ULIPs?

Before lock-in period: If you stop paying the premium before five years, the policy will expire. After deducting some charges, the remaining fund value is sent to the discontinuation fund. Here you get 3.5 percent interest on it. After five years, the amount is returned.

Friends, I tried to tell you in full detail about If you want to surrender a Life Insurance policy, then know these things, you will remain in profit, if you liked it, you can also share it with your friends, and if you have any questions, you can ask in the comment is.

What is life insurance? All About life insurance in English

What is life insurance? All About life insurance in English
What is life insurance? All About life insurance in English

What is life Insurance? All About life Insurance in English

Life Insurance / life Insurance Insurance is a contract between the policy holder and the insurer or assuranceor, where the insurer promises to pay a sum of money (benefits) to the named beneficiary in lieu of the premium, upon the death of the insured (often the policyholder). 
Depending on the contract, other events such as terminal illness or critical illness may also start paying. 
The policyholder usually pays the premium, either regularly or as a lump sum. Other expenses, such as funeral expenses, may also be included in benefits. 
Life policies are legal contracts and contract terms describe the boundaries of insured events. Payments can be stopped by citing various reasons to limit the liability of the insurer; Common examples are claims related to suicide, fraud, war, rioting, and civil inducement.
What is life insurance? All About life insurance in English
What is life insurance? All About life insurance in English

Life-based contracts fall into two major categories: (Life-based contracts come in two major categories)

Protection Policies - Designed to provide benefits, typically lump sum payments, in the event of a specified event. A common form - more common in the last years of a security policy design, is the term Insurance
Investment Policies - The main objective of these policies is to facilitate the development of capital by regular or single premium. Common forms (in the U.S.) are Whole Life, Universal Life, and Variable Life Policies.
What is life insurance? All About life insurance in English
What is life insurance? All About life insurance in English

Life Insurance / life Insurance payments

The person responsible for paying for the policy is the policy owner, while the insured is the person who has been insured and will be paid that sum after his death. The owner and the insured may or may not be the same person. 
For example, if someone buys a policy on their life, it is both the owner and the insured. But if he takes an Insurance policy for his wife or children, then he will be the Insurance owner and his wife / child for whom he has taken this policy is considered an insured person. 
The policy owner is the guarantor and will be the person to pay for the policy. The insured is a participant in the contract.
What is life insurance? All About life insurance in English

Who gets the benefit of life Insurance Beneficiaries of life Insurance.

The beneficiary receives the policy income on the death of the insured. The owner designates the beneficiary, but is not a party to the beneficiary policy. The owner can change the beneficiary until the policy has an irrevocable beneficiary designation. 
If a policy has an irrevocable beneficiary, a beneficiary change, policy assignment or borrowing of cash value will require the original beneficiary's agreement. The policy may apply special exclusions in these situations, such as the suicide clause, whereby the policy becomes null and void if the insured commits suicide within a specified time. 
Can be the basis.  The face amount of the policy is the initial amount that the policy will pay on the death of the insured or on completion of the term of the policy, although the actual death benefit may provide more or less than the face amount. The policy matures when the insured either dies or reaches a specified age (such as 100 years old).

Death of insured.

On the death of the insured, the insurer needs an acceptable proof of death before paying the claim. If the insured's death is doubtful and the policy amount is large, the insurer may examine the circumstances surrounding the death before deciding whether there is an obligation to pay the claim. 
The payment from the policy can be in the form of a lump sum or an annuity, which is paid in regular installments for a specified period or for the lifetime of the beneficiary. 
Although some aspects of the application process (such as underwriting and insurable interest provisions) make it difficult, life Insurance policies have been used to facilitate exploitation and fraud. 
In the case of life Insurance, a possible purpose is to buy a life Insurance policy, especially if the face value is sufficient, and then murder the insured. Generally, the larger the claim, and the more serious the incident, the larger and more intense the ensuing investigation, involving police and insurer investigators.

The following types of life Insurance are :- 

1.Term Plan – pure risk cover 
2.Unit linked Insurance plan (ULIP) – Insurance + Investment opportunity 
3.Endowment Plan – Insurance + Savings 
4.Money Back – Periodic returns with Insurance cover 
5.Whole Life Insurance – Life coverage to the life assured for whole life 
6.Child’s Plan – For fulfilling your child’s life goals like education, marriage, etc. 
7.Retirement Plan - Plan your retirement and retire gracefully.

Friends, I tried to tell you in full detail about What is life Insurance? All About life Insurance in English, if you liked it, you can also share it with your friends, and if you have any questions, you can ask in the comment is.