#endowment life insurance in mumbai

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Who should buy an endowment policy in Mumbai?

If you're living in Mumbai and thinking about your financial future, you might have heard about endowment policies. But who should buy an endowment policy in Mumbai? Let’s break it down in simple terms to help you decide if it’s the right choice for you.

What is an Endowment Policy?

First, let's understand what an endowment policy is. It is a type of life insurance that combines savings with insurance. This means that along with providing life cover, it also helps you save money over time. At the end of the policy term, you get a lump sum amount if you survive the policy period. If something happens to you before the policy matures, your family gets the sum assured.

Who Should Consider Buying an Endowment Policy?

1. People Looking for Dual Benefits

Endowment policies are perfect for people who want both insurance and savings. If you want to secure your family’s future and build a corpus over time, an endowment life insurance policy in Mumbai could be the right fit.

2. Individuals with a Long-Term Goal

If you have long-term financial goals like buying a house, funding your child’s education, or planning for retirement, an endowment policy can help. The money you save through the policy can be used for these big expenses. It’s a disciplined way to save for the future.

3. Those Needing a Safe Investment

Endowment policies are considered safe investments. The returns might not be as high as in some other investment options like stocks, but the risk is also lower. If you prefer safety and want to avoid high-risk investments, an endowment policy is a good option.

4. People Who Find It Hard to Save Regularly

If you struggle with saving money regularly, an endowment policy can help. The premium payments are like forced savings. You pay a fixed amount regularly, which builds up over time. This can be very helpful if you tend to spend whatever you earn without saving.

5. Those Seeking Tax Benefits

Endowment policies also offer tax benefits. The premiums you pay are eligible for tax deductions under Section 80C of the Income Tax Act. Additionally, the maturity amount is usually tax-free under Section 10(10D). So, if you’re looking to save on taxes, this policy can help.

Things to Consider Before Buying

While endowment policies have many benefits, there are a few things to keep in mind:

1. Cost of Premiums: Endowment policies tend to have higher premiums compared to term insurance. Make sure you can afford the premiums over the long term.

2. Lock-In Period: These policies come with a lock-in period, usually five years. If you surrender the policy before the lock-in period, you might not get a good return.

3. Lower Returns: The returns on endowment policies are generally lower than other investment options like mutual funds or stocks. If you’re looking for high returns, this might not be the best choice.

Conclusion

Endowment life insurance policies in Mumbai can be a great option if you’re looking for a combination of insurance and savings, especially if you have long-term financial goals and prefer a low-risk investment. Also, if you want to save money and enjoy tax benefits you can consider it. However, it’s important to consider the cost of premiums, the lock-in period, and the relatively lower returns. So, check all the factors before buying the policy.

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How to Choose the Right Life Insurance Company

Selecting the right life insurance company is a pivotal stride in safeguarding your family's financial well-being. With a plethora of choices available, conducting thorough research and assessment of different companies becomes imperative to pinpoint the optimal match for your requirements. In this guide, we'll explore the pivotal factors to contemplate when choosing a life insurance company and offer insights to aid you in making a well-informed decision.

Understanding Your Needs Prior to embarking on the selection process, it's paramount to grasp your life insurance needs comprehensively. Delve into your financial obligations, such as mortgage commitments, debts, and forthcoming expenses like education funding or retirement savings. Evaluate your long-term aspirations and discern how life insurance integrates into your overarching financial strategy.

Researching Life Insurance Companies Financial Stability and Ratings Commence your quest by scrutinizing the financial robustness of potential life insurance companies. Seek out companies endowed with sturdy financial ratings bestowed by independent agencies like A.M. Best, Standard & Poor's, and Moody's. A financially steadfast company is better poised to meet its commitments and fulfill claims when necessitated.

Product Offerings Assess the spectrum of products proffered by each life insurance company. Some companies specialize in term life insurance, while others furnish an array of alternatives, encompassing whole life and universal life insurance. Opt for a company furnishing products that align with your coverage requisites and preferences.

Customer Service and Claims Process Factor in the customer service repute of each life insurance company. Peruse customer reviews and testimonials to gauge satisfaction levels. Additionally, probe into the claims process and the company's adeptness in expeditiously handling claims. A responsive and supportive claims procedure holds paramount significance during challenging circumstances.

Evaluating Policy Options Term Life Insurance Term life insurance furnishes coverage for a specified duration, typically spanning 10, 20, or 30 years. It constitutes a cost-effective avenue for addressing transient needs like mortgage protection or income replacement during your earning years.

Whole Life Insurance Whole life insurance extends lifelong coverage, coupled with a guaranteed death benefit and cash value accrual. It represents a permanent coverage avenue capable of furnishing financial security for your loved ones while serving as an investment vehicle.

Universal Life Insurance Universal life insurance confers flexibility concerning premium payments and coverage extents. It empowers policyholders to tweak their premiums and death benefits over time, rendering it apt for adapting to evolving financial circumstances.

Comparing Premiums and Benefits Whilst juxtaposing life insurance companies, contemplate both premiums and benefits tendered by each policy. Solicit quotes for commensurate coverage amounts and juxtapose the cost-benefit ratio. Bear in mind to incorporate any discounts or incentives extended by the company.

Assessing Additional Features and Riders Probe into the supplementary features and riders offered by life insurance companies to augment your coverage. Common riders encompass accelerated death benefit riders, enabling policyholders to access a segment of the death benefit upon diagnosis of a terminal illness, and waiver of premium riders, which waive premium payments in the event the policyholder becomes disabled.

Seeking Professional Advice Lastly, ponder availing counsel from a licensed insurance agent or financial advisor. A seasoned professional can aid you in navigating your options, comprehending policy terms and conditions, and arriving at a judicious decision predicated on your unique needs and circumstances.

You can rely on the Health Insurance Agent from Navi Mumbai for help with questions and insurance matters.

[amlanbasu16]

HELPING

YOU

PROTECT

YOUR

TOMORROW

Endowment, Money Back, Whole Life, ULIP, Term, Children's Growth, Retirement, Pension and many more plans....

Excellent Services at No Cost

Your Life is Safe with LIC

AMLAN BASU

Trusted Insurance Advisor

Life Insurance Corporation of India, Mumbai

Contact:

Mobile: +91-75067 21827 (WhatsApp)

Email: amlanbasuia@gmail.com

[licnewendowmentplan-blog]

LIC’S New Endowment Plan 914

Types of LIC’s Endowment Plans

 licmerchantlogin.com

LIC means Life Insurance Corporation of India is a state-owned insurance based and Investment Corporation which is owned by Government of India. It is established by under act of parliament known as LIC Act 1956. This company comes under financial services industry whose headquarter is located at Mumbai since 1956.

Mr M R Kumar (Chairperson), T C Suseel Kumar (Managing Director) are some key persons in this company right now.

LIC currently is working in various sectors like

Life insurance sector: Where a contract is signed between company and a policy holder and company promises to pay benefit to the holders under different conditions include accident, injury, death, maturity etc.

There are various sectors also such as Health insurance, investment management, banking and mutual funds etc.

We are here discussing about Life insurance sector only. There are many types of policies available in the LIC’s life insurance sector  

They are:

1).Endowment Plans.

2).Whole Life Plans.

3).Money Back Plans.

4).Term Insurance Plans.

5).Pension Plans.

6).ULIP Plans.

7).LIC Health Plans.

8). Withdrawn Plans.

9). LIC Merchant.

10). LIC Merchant login.

licmerchantlogin.com

Here we are focussing on most effective LIC plan falls under

Endowment type called as

LIC’s New Endowment Plan NO 914:-

LIC’s new endowment plan is a non-linked plan (it means it is not related to share market and is low-risk plan with definite benefit.). It offers an attractive combination of savings and protection feature also which means that policy holder will get sum assured (money help) in time of accidental death or sudden death before maturity. It will also provide lump-sum (a total single payment promised during policy activating period) during the time of maturity to the surviving policy-holders. You can also take loan facility on the basis of this policy.

Benefit under death of policy holder:

Death benefit will be provided to the family nominee of the policy holder under several conditions like, the policy should be In activation period during the time of death means premium of the policy should not be due or policy should not be lapsed as it will impact sum assured income during policy settlement time or the policy should not be in cancellation period. The most important point is the cause of death as the LIC will not pay any benefit to the policy-holder’s family if the cause of death is suicide.

               Benefit under Maturity of policy:

               Maturity income or lump-sum amount will be paid to the surviving policy holder under several conditions which are the policy premium should be paid according to company’s plan and policy should not be in cancellation period or should not be cancelled due to non-payment of premium issues. If this is not the case then the lump sum amount will be paid to policy holder along with several raider benefit (extra security given by LIC during activation of policy like accident benefit, health benefit, injury benefit, medical benefit etc.)

licmerchantlogin.com

               Eligibility Conditions and Other Restrictions:

a) Minimum Basic Sum Assured: Rupees. 100,000

b) Maximum Basic Sum Assured: No Limit (The Basic Sum Assured shall be in multiples of Rs. 5000/-)

c) Minimum Age at entry: 8 years (completed)

d) Maximum Age at entry: 55 years (nearer birthday)

e) Maximum Maturity Age: 75 years (nearer birthday)

f) Minimum Policy Term: 12 years

 g) Maximum Policy Term: 35 years

               Riders Available:

a)      LIC’s Accidental Death and Disability Benefit Rider

b)      LIC’s Accident Benefit Rider  

c)       LIC’s New Term Assurance Rider

d)      LIC’s New Critical Illness Benefit Rider

e)      LIC’s Premium Waiver Benefit Rider

f)       LIC Merchant

g)      LIC Merchant login

NOTE:-Get all Information Regarding LIC Merchant Portal for login and registration, LIC Premium payment for LIC Merchant click here to login,

licmerchantlogin.com

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LIC MERCHANT

LIC Merchants are those individuals who are involved in the premium collection process by LIC of India. Merchants works link a link between Policy buyer and Lic of India. Lic merchants look for details about Premium collection and also updates its details. 

Life Insurance Corporation of India is the largest life insurance company in India and is also the country's largest investment company. It is completely owned by the Government of India. It was established in 1958.

LIC  headquarter is located in Mumbai, which is the financial capital of India. Life Insurance Corporation of India has 4 zonal offices and 101 divisional offices located in different parts of India. It has 204 offices which are located in many cities of the country and it has 1 million agents across India.

Insurance Corporation of India, India's largest life insurance company and is also the country's largest investment company. It is completely owned by the Government of India. It was established in 1958.

LIC Tech Term Plan: LIC Tech Term Plan Policy is a pure life insurance policy that serves to provide full financial support to the insured family in case of any unfortunate or unexpected event. You can buy this term plan only through the online application process and no agent is required.

LIC New Endowment Plan: LIC New Endowment Plan is one of the most popular non-linked plans by LIC which provides a combination of security and savings to consumers. This effective insurance policy is attracting the consumer on a daily basis and the reason behind this is that the scheme provides necessary financial support to the insured's family before maturity. Under this, there is a good lump sum at the time of maturity for the surviving policyholder. The scheme also takes care of personal needs through a credit facility to the customer.

LIC Jeevan Anand Plan: LIC Jeevan Anand Yojana is also a participating non-linked policy that offers an attractive combination of security and savings. If you look at the facts, you will find that it is the most sold insurance policy by Liech. Due to its many benefits that include risk coverage even after lifetime maturity, This is most necessary. Leech Jeevanand comes with a bonus facility which is a whole life policy. Under this, you will get double death benefits in case of survival. The plan has an average premium, high bonus rate, and large cash facility

LIC New Children Money Back Plan: Leech New Children Money Back Plan is a participating non-linked money back plan. It is specifically designed to meet educational, marriage and other needs of growing children. In addition, you will receive risk cover over the life of the child during the policy term and several survival benefits if you survive to the end of the specified period. You can choose annually, half-yearly, through ECS or through SSS mode You can pay premium regularly in quarterly or monthly mode. If you have paid the premium amount for the initial three years, the policy can be surrendered at any time during the policy term.

Lic Jeevan simple: This subsidiary insurance policy comes under the special plan section of LIC. It is an endowment policy that provides a lot of flexibility that people typically get under Unit Linked Insurance Plans (ULIPs). With the excellent features of traditional plans and the flexibility of ULIP plans, Jeevan Saral Insurance plans offer double death benefits of the sum assured as well as the return of premium.

LIC India gives their agents access to their particular portal which is known as LIC MERCHANT.

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Life Insurance Corporation of India Company Market Analysis Report - Company Market size - Company profile

Life Insurance Corporation of India (LIC), owned by the Government of India, is a provider of life insurance plans. The company offers endowment plans, money-back plans, term assurance plans, pension plans, special plans, unit plans, group schemes, child plans, and health insurance plans. It operates through zonal offices in Mumbai, Kolkata, Chennai, Hyderabad, Delhi, Kanpur, Bhopal, and Patna. Life Insurance Corporation of India market analysis Life Insurance Corporation of India Company Profile

LIC offers insurance products in India through associates and agents. The company and its associates also have operations in Fiji, Mauritius, the UK, Bahrain, the UAE, Kuwait, Qatar, Oman, Nepal, Sri Lanka, Saudi Arabia and Kenya. LIC is headquartered in Mumbai, Maharashtra, India.

Access in-depth analysis, premium industry data, predictive signals, and more on Life Insuran… for 12 months starting at $395 on our Company Analytics platform

Access in-depth analysis, premium industry data, predictive signals, and more on Life Insuran… for 12 months starting at $395 on our Company Analytics platform

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Life Insurance Corporation of India - Enterprise Tech Ecosystem Series published on

https://www.sandlerresearch.org/life-insurance-corporation-of-india-enterprise-tech-ecosystem-series.html

Life Insurance Corporation of India - Enterprise Tech Ecosystem Series

Life Insurance Corporation of India – Enterprise Tech Ecosystem Series

Summary

Life Insurance Corporation of India (LIC), owned by the government of India, is a provider of life insurance plans. The company offers endowment plans, money back plans, term assurance plans, pension plans, special plans, unit plans, group schemes, child plans, and health insurance plans. It operates through zonal offices in Mumbai, Kolkata, Chennai, Hyderabad, Delhi, Kanpur, Bhopal, and Patna. LIC offers its products in India through associates and agents. The company also has operations in Fiji, Mauritius, the UK, Bahrain, Nepal, Sri Lanka, Saudi Arabia, Kenya, Bangladesh, and Singapore.

This report provides insights into LIC’s fintech activities, including its digital transformation strategies, its technology initiatives, and its estimated ICT budget.

Scope

– LIC is strengthening its focus on the use of innovative technologies including cloud, cybersecurity, data analytics, and data centers to enhance its digital capabilities. – LIC operates a unified data warehouse that acts as a single source of information for various business operations. – LIC created a cybersecurity cell to ensure compliance with the Insurance Regulatory and Development Authority of India’s Guidelines on Information and Cyber Security for Insurers.

Reasons to Buy

– Learn about LIC’s fintech operations, including investments, product launches, partnerships, and acquisitions. – Gain insight into its fintech strategies and innovation initiatives. – Discover which technology themes are under the group’s focus.

[newsbunddle]

LIC allows online switching of Ulips

LIC allows online switching of Ulips

MUMBAI: To help policyholders during the pandemic, the national life insurer LIC has allowed them to switch online funds under ulip policies through its portal. The facility will be available for those policyholders who are registered for its premier services, LIC said in a statement on Friday. This online switching of funds will be available for the new endowment plus (Plan 935), Nivesh plus…

[finanzwealth]

💥💥HAPPY DHANTERAS 💥💥 ‘ May the auspicious occasion of #Dhanteras celebration endow you with opulence, prosperity, happiness and health in your & your family life.’ Start your journey towards wealth creation on this auspicious day. Treat your health and well-being as one of your wealth too! #HappyDhanteras #diwali2020 #yehdiwaliinvestmentwali #mutualfunds #OwnYourMoney #Investing #Investment #Investor #Wealth #MoneyMaker #MutualFundsSahiHai #BeSwatantra #FinancialFreedom #FinancialEducation #GrowthMindset #Money #MoneyMaking #MoneyMoves #Invest #InvestmentStrategies #Income #insurance #healthinsurance #Dhanteras2020 (at मुंबई Mumbai) https://www.instagram.com/p/CHg4IJVrfLk/?igshid=m4zj0yduuwot

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Why are term insurance plans in Mumbai a necessity?

In today's fast-paced world, financial security is crucial for individuals and families alike. One of the most effective ways to ensure financial stability is by investing in term insurance plans in Mumbai. If you have term insurance protection, then you can be at peace of mind knowing that your loved ones are financially secure even if you are not present.

The Importance of Term Insurance Plans

Financial Protection: Term insurance offer financial protection to your family in the event of your death. The insurance company pays a lump sum to your beneficiaries, ensuring they can continue their lifestyle without financial burdens.

Financial Independence: By investing in insurance, you can ensure your family's financial independence. They can continue to pursue their education, and passion, and live their life worry-free of financial insecurity.

Tax Benefits: Term insurance plans offer tax benefits under Section 80C of the Income Tax Act. You can reduce your taxable income by claiming a deduction on your premium payments.

Flexibility: Life insurance offer flexibility in terms of policy duration, coverage amount, and premium payment frequency. You can customize your policy according to your financial goals and budget.

Cost-Effective: Term insurance plans are generally more cost-effective compared to other types of insurance policies. This makes them an attractive option for individuals looking for affordable financial protection.

Best Life Insurance Cover in Mumbai

When it comes to choosing the best life insurance cover, it is essential to consider several factors such as the insurance company's reputation, policy terms, and coverage amount. We offer a range of insurance plans that cater to different financial needs and goals.

With the advancement of technology, buying term insurance has become easier than ever. You can compare different plans online, choose the one that suits your needs, and buy it with just a few clicks. We offer excellent services to help you find the best plans. Their expert advisors can guide you through the process and help you make an informed decision.

Conclusion

Term insurance plans are not just a good idea; they are a necessity. They provide financial protection, peace of mind, and are surprisingly affordable. Whether you are a young professional just starting out or someone with a family to protect, term insurance is a smart choice.

If you haven’t considered it yet, now is the time. Visit our website today to learn more about how you can secure your family’s future with life insurance.

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NEW MONEY MANAGING PRACTICES - AN EYE OPENER !

  The change is continuous in every sphere of life. The one who adopts the changing trends leads a better life especially in the field of finance. The conventional financial rules our parents and grandparents followed are not beneficial in present time. We at Investocafe analyzed how the new money managing practices are more beneficial today.

INVESTING

Earlier Saving and Investments were synonymous to  PPF or FD’s to protect capital and earn a decent interest. Today, post tax returns of most such schemes can’t beat inflation. For long-term goals like retirement, higher education for children, children’s wedding etc, a large allocation to equity is necessary to build wealth that beats inflation in a tax-efficient manner. So the new trend is LOOK FOR HIGHER INFLATION BEATING RETURNS INSTEAD OF GUARANTEED RETURNS. Have a look for various investment instruments below

  Diversified Equity Mutual Fund (@ 15% CAGR),Value of rs. 1 Lakh in 5 years will be: 2, 01,135

 Balance Mutual Fund (@ 12% CAGR) ,Value of rs. 1 Lakh in 5 years will be: 1, 76,234

 PPF (@ 8.5%),Value of rs. 1 Lakh in 5 years will be: 1,50,365

 FD (@ 8 %),Value of rs. 1 Lakh in 5 years will be: 1,46,932

   HOUSING

Earlier, a house meant financial security and a good long-term investment but today, buying a house implies a huge EMI burden. Paying off a home loan early in your career compromises your other financial goals. So the new trend is RENT A HOUSE INSTEAD OF BUYING. The renting a house is more affordable than buying a house as per the Artha Yantra Buy vs Rent Report 2017. Have a look that in present scenario in different cities what is the rental cost and what will be the monthly cost to buy :

Mumbai : Avg Monthly Rental Cost : 42,084 : Avg Monthly Cost to buy: 1,56,887

Kolkata : Avg Monthly Rental Cost : 18,174 : Avg Monthly Cost to buy: 47,737

Bengaluru : Avg Monthly Rental Cost : 19,176 : Avg Monthly Cost to buy: 52,280

Chennai : Avg Monthly Rental Cost : 17,911 : Avg Monthly Cost to buy: 68,908

Delhi NCR: Avg Monthly Rental Cost : 21,094 : Avg Monthly Cost to buy: 70,115

Hyderabad: Avg Monthly Rental Cost : 13,706 : Avg Monthly Cost to buy: 30,955

Kochi : Avg Monthly Rental Cost : 12,347 : Avg Monthly Cost to buy: 41,670

Jaipur : Avg Monthly Rental Cost : 12,150 : Avg Monthly Cost to buy: 36,488

Indore : Avg Monthly Rental Cost : 11,677 : Avg Monthly Cost to buy: 29,965

  TRANSPORT

Earlier, owning a car was seen as a status symbol. Fuel was cheaper too. Today, an efficient public transport system and app-based taxi services made owning a car superfluous. You are also spared the trouble of high fuel bills, vehicle maintenance, driving in traffic or looking for parking space. So the new trend is RENT A CAR INSTEAD OF BUYING ONE. Have a look at the calculation below for average per day cost of possession of a car:

  Average Cost of a hatchback car in India : Rs 6,00,000

Scrap value of car after six year: Rs1,00,000

Net amount goes in effective life of six year : Rs.5,00,000

Cost of car possession (5,00,000/2192 (6 years)) : Rs.229/day

Approximated Car insurance (Averaged at 10,000 yearly) : Rs.27/day

After every 3 year tyre & battery replacement charge : Rs.23/day

Car Maintenance (@ Rs 9000 yearly) : Rs.24.5/day

Interest on car buying amount(@8% on Rs 6,00,000) : Rs.160/day

 Average per day cost of car possession (excluding the fuel expenditure and driver) is Rs 463.5

 Cost of renting a car with driver generally available in India is Rs 12/km to Rs 20/km (Uber )

 Renting a car is much cheaper than actually owning a car.

 GOLD

Lack of awareness and traditional inclination towards gold made earlier generation invest heavily in physical gold. Today, gold bonds/ gold ETFs or mutual funds prove to be more beneficial over physical gold, on many fronts. So now the new trend is BUY GOLD BONDS INSTEAD OF GOLD JEWELLERY OR PHYSICAL GOLD. Have a look:

  Liquidity;

 Gold Bonds: Low

Physical Gold: High

Gold FTE : High

 Interest;

 Gold Bonds: 2.75%

Physical Gold: Nil

Gold FTE: Nil

 Charges;

 Gold Bonds: Nil

Physical Gold: Locker, Making Charges, Insurance Premium:

Gold FTE: 1% on Expense Ratio

 Taxation;

 Gold Bonds: Tax on Interest

Physical Gold: Nil:

Gold FTE : Taxes if sold before 1 year

 Risk;

 Gold Bonds: Nil

Physical Gold: High

Gold FTE : High

  INSURANCE

The conventional or conservative approach towards insurance is a mix of insurance and investment. Insurance is a bad investment and investments don’t provide insurance. They don’t actually provide the best of either. Insurance should be taken to cover your liabilities and Term insurance is low-cost insurance that comes with higher cover for a lower premium. It does not provide returns and is treated as an expense. But a comparison between endowment policy and term insurance clearly emerge Term insurance as winner. Have a look at the comparison between Endowment plan and mix of Term Plan with SIP below.

LIC Endowment Vs Term Insurance Plan with MF investment:

 LIC new endowment plan for Rs. 50 lakh cover:

  At 30 years age for a period of 30 years or 60 years age

  Monthly premium is Rs. 13293 for 360 months (30 years)

  Total maturity amount at the age of 60 years would be Rs.1.77 crore

  Term Insurance plan of ICICI Pru for Rs. 50 lakh cover and SIP in ICICI value discovery fund

  From 1 st to …… 360 months

Term Plan Premium:  426……..426 :  Total (@ 12% CAGR)

SIP Amount:  12867……………12867  : Total Rs.4.54 Crore

  Visit www.investocafe.com to know about mutual fund investment options and stay on path of financial freedom

Happy Investing!!!

  Written by: Anvesh Pandey, SEBI Registered Investment Advisor

To get in touch, write on anvesh.pandey@investocafe.com or reach through www.investocafe.com

[shanujey82-blog]

Best Surrogacy Doctors In Hyderabad | Dr. Runa Acharya | ElaWoman

SURROGACY SERVICES

Surrogacy is an endowment of present day science which has given barren couples the chance to appreciate the essential right of child rearing youngsters. There are a considerable measure of unanswered questions that will strike a chord, when you consider Surrogacy. Akanksha IVF Center can assist you with getting each one of those answers acceptably.

What is 'Surrogacy'?

Surrogacy is a course of action between a lady and a couple or individual to convey and convey a child. The benefit of gestational surrogacy to the guardians is that the incipient organism is made from the lady's egg and the man's sperm, so it is organically theirs. Ladies or couples who pick surrogacy regularly do as such in light of the fact that they can't consider because of some lack in ladies like an absent or strange uterus, H/o different pregnancy misfortunes, or having had various in vitro preparation endeavors that have fizzled.

Why India for Surrogacy?

In India, Surrogacy costs about $ 20,000 – $ 30,000 contrasted with US where it is $70,000 and above. In addition laws in US and UK don't enable the surrogate lady to charge the childless couple; though in India there are no laws keeping a surrogate lady in tolerating pay for leasing her womb.

Best Surrogacy Doctors In Hyderabad, might be relatives, companions, or past outsiders. Numerous surrogate courses of action are made through offices that assistance coordinate expected guardians with ladies who need to be surrogates for an expense. The offices frequently help deal with the mind boggling restorative and lawful angles included. Surrogacy courses of action can likewise be made freely. In repaid surrogacy, the sum a surrogate gets shifts generally from nothing above costs to over $30,000 Careful screening is expected to guarantee their wellbeing as the gestational transporter brings about potential obstetrical dangers.

Dr. Runa Acharya

Dr. Runa Acharya is an infertility pro and gynecologist in Basheerbagh, Hyderabad and has an affair of 10 years in these fields. Dr. Runa Acharya hones at Ramayya Pramila urology and laparoscopy focus in Basheerbagh, Hyderabad and Sree fertility and IVF focus in Srinagar settlement, Hyderabad. She finished Mbbs from RGUHS Bangalore in 2003, M.D. (Obst and Gyn) from PGIMER, Chandigarh in 2008 and DNB gynecologist from Dr. James Catt Monash University, Mumbai in 2011.

A touch of the associations given by the master are: vaginal hysterectomy, in vitro treatment (unnaturally thought about tyke), andrology, proctoscopy and transport and so forth.

Capability

MBBS , MD - Obstetrics and Gynecology , DNB (Obstetrics and Gynecology),Infertility Specialist , Gynecologist

Work Experience

Advisor Gynecologist R. G. Stone Urology and Laparoscopy Hospital, Panaji, Goa

Partnership course in infertility. Prepared in ART systems Genesis Patankar fertility arrangements Saras bagh, Pune

Recorder. OBG, Care doctor's facility, Banjara slopes, Hyderabad

Junior advisor OBG, Yashoda doctor's facility Somajiguda, Hyderabad

Advisor Gynaec , Ramayya doctor's facility , Basheer Bagh, Hyderabad

Advisor in Fortune doctor's facility, Basheer Bagh.

Dr. Vandana Hegde

Dr. Vandana Hegde is the best surrogacy specialist honing at Hegde Hospital. She has over a time of fruitful involvement in surrogacy and other infertility medications. She has finished MBBS from Rajiv Gandhi Institute of wellbeing science, Bangalore in the year 2003 and MD in 2007 from a similar therapeutic foundation. She additionally did cooperation in infertility in the year 2009. She conveys her best to the patients. As of now, 

she is rehearsing at Hegde Hospital. Hegde Hospital plans to get great wellbeing everybody's life since its foundation in the year 1977 at Malakpet, Hyderabad. It is known as one of the main social insurance focuses that convey a wide exhibit of offices. Gynecology, obstetrics, laparoscopic medical procedure and numerous different administrations are given here. You can get the best fertility treatment by Dr. Vandana at Hegde Hospital.She has picked conceptive prescription as her specialization in the wake of seeing an absence of good moral treatment in India for bothered couples. She experienced a two-year cooperation preparing under Rajiv Gandhi University of Health Sciences, Bangalore. The preparation takes after the propelled educational modules from top foundations over the world and gives hands-on preparing help from veterans in the field of helped origination in India and Abroad.

She set up in Hyderabad inside Hegde Hospital, Hi-Tech City is a cutting edge foundation utilizing lab supplies from Germany and UK. With a group of masters prepared under her, the Center currently gloats of one of the most noteworthy achievement rates for IVF medications. The doctor's facility has a wonderful vibe that ensures comfort and unwinding through the method.

Dr. P Rama Devi

Dr. P Rama Devi is the best gynecologist and infertility master in Ameerpet, Hyderabad. In the event that you need to go for IVF treatment or gestational surrogacy then she is a standout amongst other alternatives you would discover in Hyderabad. She has right around 4 many years of restorative involvement in the field of gynecology and obstetrics. She finished MBBS from Gandhi Medical College, Hyderabad in the year 1983, and MS in obstetrics and gynecology from Osmania University, Hyderabad in the year 1986. She is a functioning individual from Indian Medical Association.Some of the administrations given by her incorporate IVF, IUI, Surrogacy, Laparoscopy, TESA, Egg gift program and so forth. She is at present rehearsing at Dr. Rama Fertility and IVF Center.

She is an individual from Indian Medical Association (IMA). A portion of the administrations given by the specialist are: In-Vitro Fertilization (IVF),Lactation Counselling,Fertilisation In Vitro - Embryo Transfer (IVF - ET),Nuchal Transluscency Scan and Fertility Treatment and so forth.

Dr. S Rohini Devi

Dr. S Rohini Devi is an infertility master and gynecologist having 2 decades ofsuccessful restorative practice and experience. She has done MBBS from Dr. NTR University of Health Sciences, Andhra Pradesh in 1995. She did MD in Gynecology and Obstetrics from a similar school in 1999. She has specialization in Surrogacy, IVF and IUI.Currently, she is practicingat Shree Fertility and IVF Center inHyderabad.

She has then set up the now popular Motherhood fertility focus at Madhinaguda, Hyderabad, Telangana, India. This was among the initial couple of extensive committed fertility clinics in South Asia. The essential target is to offer a total scope of fertility treatment benefits under one rooftop. These administrations incorporate an entire scope of demonstrative administrations incorporating all examinations in Biochemistry, Micro-Biology, Pathology, Histo Pathology, Diagnostic and agent Lapro, Hystero scopy and Micro-Surgery for recanalisation of fallopian tubes, Vas etc..Contact us online counsel about fertility treatment, IVF, Test Tube infant or on some other Male or female fertility related issues. The online conference is given by Dr. S. Rohini Devi, our Lead Fertility Specialist at Hyderabad, India.

Dr. Kiran Mayee

Dr. Kiran Mayee is an infertility specialist and gynecologist with right around a time of therapeutic experience. She was an extraordinary understudy at her college. She has finished her MBBS from Hyderabad in the year 2008 and MS in the year 2014. Dr. Kiran expects to give her patients the correct learning and data about their social insurance, treatment, plans, and services.Currently, she is honing at Hegde Hospital, in Hyderabad.

Dr.Kiranmayee has been prepared in infertility medicines, for example, Pelvic Ultrasonography, Follicular development contemplate, Ovulation Induction, Guiding Timed intercourse, Intrauterine insemination, Diagnostic and Operative Hysteroscopy.

She has mastery in treating young ladies with Polycystic Ovaries (PCOD) and Menstrual Irregularities.

She is an individual from Medical Council of India. She is honing in one of the main fertility focuses in Hyderabad-Hegde Fertility Center-Hegde Hospital and Dr. Kiranmayee Women's Clinic.

+(91)-7899912611

https://www.elawoman.com

Contact Form :-

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[personalfn-blog]

Loan Against Your Life Insurance Policy - All You Need To Know

Harjeet is all set to purchase a two-bedroom house in Mumbai. And he faced a situation most homebuyers generally face—falling short of funds. As you might be aware, there are several hidden costs involved in availing a home-loan along with high property rates. He additionally needs around Rs 1,50,000. After performing the requisite amount of research, he realized that personal loan would not be a viable option for him. He approached his friend, Prathamesh, a Certified Financial Guardian. Prathamesh suggested that Harjeet could opt for a loan against his life insurance policy. Are you looking for a loan too? A loan with very little documentation and low interest cost? You can apply for a loan against your insurance policy —which is a loan against security. So, how does loan against life insurance policy work? You can apply for loan against your insurance policy either through the insurance company or as collateral with the bank. Through this way, your policy will be pledged as collateral and the desired loan amount will be disbursed to you. Now, insurance policies are usually bought with an aim to safeguard self and family from the future uncertainty. But in case of an emergency, a loan against your insurance policy will enable you to leverage your existing insurance policy in times of need. As per IRDA’s guidelines, a loan facility is not available under Unit Linked Insurance plans (ULIPs) and a Term Insurance Policy. Traditional insurance policies such as endowment, money-back policies, etc. are eligible for loan. However, you need to check the terms & conditions of your insurance policy and enquire if your insurance policy qualifies for the loan facility. Eligibility criteria for loan against Insurance Policy Loan Value: The present value of your policy, if you wish to voluntarily terminate today, is termed as ‘Surrender Value’. Hence, the surrender value continues to increase with the term of your policy. Your loan amount depends on the surrender value, number of premiums paid, number of years completed or remaining, etc. Generally, 80-90% of the surrender value can be availed as loan against insurance policy. For example, if you have an insurance cover of Rs 20 lakh and its surrender value is Rs 5 lakh, you are probably eligible for a loan amount Rs 4.0-4.5 lakh. Another common method is the 50% of the total amount of premiums paid up till now. However, the loan amount calculation varies from company to company. Premiums: Your life insurance policy should have completed at least 3 years. In other words, it implies that you have paid premiums for at least 3 years prior to the loan application. During the loan tenure, the policyholder has to continue paying the premiums. If at any given point of time there is a failure to pay the premium, the insurer may terminate the policy. Documents Required: The documentation process is simple. But the documents required vary from company to company. Nevertheless, the following documents are commonly required:

Original Policy Document

Deed of assignment (under which the benefits of life insurance policy, against which the loan is taken, will be assigned to the insurance company or the bank)

Cancelled cheque (to deposit your loan amount into your account)

Loan Processing Fee: This fee is very low in the range of 0%-3% of the loan amount. Some insurers might also charge a flat fee. Nevertheless, the fee is comparatively lower than any other personal credit options available in the market. Interest Charge: Insurance companies charge an interest rate in the range of 10%-12% and are revised annually. Usually interest is paid every 3 months, 6 months, or annually, some insurers have a minimum 6 months duration. Under this regulation you need to pay the interest for minimum 6 months before you decide to foreclose your loan within 6 months. Still this is more economical as compared to personal loans which charge interest around 13%-15% p.a. Loan Repayment: Repayment options also vary. The loan amount is, ideally, meant to be repaid during the tenure of the insurance policy. The policyholder either has the option of paying back the principal or keep paying interest regularly. At the time of settlement, the loan amount will be deducted from the remaining claim. In case you consider the option of availing a personal loan, the loan repayment tenure ranges between 1 to 5 years. Loan Processing Procedure: Your loan can be sanctioned between 2-7days of the application. There is less scrutiny and a faster process to avail the loan. Default on Repayment of Loan: If you default the repayment or payment of premiums, your insurance policy will lapse. The insurance company has the rights to recover your loan amount/ interest from the surrender value. Here are two key benefits of loan against insurance… ✔ Low on cost: As the interest charge and other processing fees are much lower as compared to a personal loan, loan against your insurance policy becomes a viable option. ✔ Less scrutiny and easy documentation: The documentation process is simple and less cumbersome. Plus, the chance of your application being rejected is low. To Sum-up… Loan against insurance policy should be availed only in case of an emergency. And once you take a loan, it is imperative to diligently repay it as soon as possible, so as to reduce your interest outgo. And don’t miss paying your insurance premiums on time, as it can prove imprudent. In case of an untoward incidence such as death, you will be jeopardising the financial interest of you loved ones. Life is uncertain and hence, it is imperative take each step prudently. Below are 10 points to bear in mind before you opt for a loan:

Know your finances precisely

Ascertain why you are borrowing

Recognise what will be Debt-Income Ratio (D/I) (your total monthly debt commitments should not exceed 40% of your gross income)

Have a plan of how to re-pay your loan

Maintain a contingency fund

Ensure you hold adequate insurance

Save enough for the golden years and

Keep your family in the loop

Though loan facilities are available, you ought to take enough care before availing them.

This post on " Loan Against Your Life Insurance Policy - All You Need To Know " appeared first on "PersonalFN"

[eyehealthcare]

About Eyes and Eye Care for Kids

"Vision issues influence one of every 20 preschoolers and one of every four school-age youngsters" (Shroff Eye Vision Screening Program, Mumbai, 2003-4).

"Two to four percent of India's youngsters build up a squint [cross-eyed] and additionally amblyopia [lazy eye]. Early location and treatment of these disarrange amid youth is fundamental for averting changeless vision misfortune".

By and large, the tyke doesn't see well out of one eye, as there might be a refractive mistake [spectacle number] in simply that one eye. Here the eyes don't fill in as a group to see. On the off chance that your youngster's cerebrum doesn't get visual pictures from that eye, in the long run, the mind will "stop" that eye and vision could be for all time disabled. This condition is frequently undetected in light of the fact that the youngster has learned to peruse from the great eye. Amid an eye examination, where each eye is independently checked, one can analyze this condition.

Examination of vision among pre-school and grade school-going youngsters is seldom polished in India unless a conspicuous issue is noted. Regularly the issue is managed past the point of no return. It is conceivable to check the vision in youngsters who can't read letters in order. All kids going to kindergarten must be checked at affirmation. It is parents responsibility tyo take care of kids eye care.

How to distinguish these basic eye issues?

1. Basic eye examination for each infant by the pediatrician.

2. All untimely children require an eye examination by an ophthalmologist

3. First definite eye examination for all youngsters age of a half year; again at 2 years, and afterward every year.

4. Screenings at school are intended to caution guardians to the likelihood of a visual issue, however not replace a visit to an eye specialist. One examination found that 11.3 percent of youngsters who passed a dream screening were found to have a dream issue needing revision.

5. Detailed eye examination by an ophthalmologist within the sight of visual impedance.

6. Follow-up yearly examination by the ophthalmologist is prescribed to remain over your tyke's visual needs, and in addition guarantee that your youngster's remedy for eyeglasses is as yet right. The visual framework is creating alongside your kid, so yearly solution changes are normal.

A higher danger of eye issues at an early age in the present circumstances

"Numerous pediatric eye specialists trust that substantial PC use among kids puts them in danger for early nearsightedness [short sightedness]" The normal kid now burns through one to three hours for every day on the PC doing homework, talking on the web with companions, and playing amusements. Eye care is important for family and kids, it is the responsibility of each individual to take care. Guardians empower youngsters as youthful as a few years of age to utilize the PC. A few late examinations have confirmed that PCs can negatively affect a tyke's vision. They have discovered that 25% to 30% of PC utilizing youngsters require remedial eyewear to work serenely and securely at the PC at home or in school. See underneath in tips how to avoid Computer Vision Syndrome in youngsters.

Tips on day by day eye look after youngsters:

1. Eating regimen: A solid eating regimen with accentuation on green verdant vegetables, drumstick, carrots, beetroot, crisp natural products including mango and papaya are especially rich in Vitamin A.

2. Lighting: Light source ought to be situated behind your youngster while perusing. Dodge coordinate glare by utilizing protected light. Perusing material ought to in a perfect world be set 12-14

inches away.

3. VDU's or Visual show units incorporate TVs and PC screens.

Migraines, eye fatigue, consuming, watering, obscuring of vision, twofold vision and sickness would all be able to be caused by drag out work on the VDUs.

Abstain from sitting in front of the TV in a dull room. A sufficiently bright live with white light [tubelight] is perfect. It is important to take care of your kid's vision.

Favored review removes for sitting in front of the TV is 4 meters or more.

Place the PC screen at eye level or marginally lower and in such an approach to limit reflection and glare. The suggested remove between the screen and the eye for youngsters is 18-28 inches. By review the PC screen nearer than 18 inches, youngsters chance to stress their eyes. Guardians and educators ought to know about any conduct that shows potential issues, for example, eye redness, visit rubbing of the eyes, head turns and other surprising stances, or grievances of fogginess or eye weakness. Shirking of the PC may likewise be an indication of inconvenience. Try not to give the youngster a chance to sit for over 40 minutes ceaselessly before a PC screen.

4. Sensitivities and incessant colds: must be investigated and treated. Sensitivities of the eyes may influence the tyke 'to knuckle' his/her eyes, which may wind up noticeably ongoing and prompt changeless corneal irregularities.

5. Swimming: Watertight swimming goggles averts bothering because of chlorine and diminishes the odds of contamination.

6. Games: If your kid is associated with ball games and/or contact sports defensive eyewear made of polycarbonate is suggested.

7. UV light: Exposure to daylight is sound with some restraint and aides really taking shape if Vitamin D by the body. An excess of introduction to brilliant daylight is hurtful and can cause harm. Wide overflowed caps and UV separating shades give sufficient insurance.

8. Utilization of 'Kajal' to babies, washing the eyes with ordinary water, rose water and so on is an outright NO-NO. The ordinary course of tears is sufficient to enough wash down the eye of any unessential material.

The endowment of vision is valuable. Give your tyke the best beginning in life by going by your eye specialist today.

[ourplanetary-blog]

Irda may also herald life coverage portability

New Post has been published on https://ourplanetary.com/irda-may-also-herald-life-coverage-portability/

Irda may also herald life coverage portability

Mumbai: The coverage regulator is thinking about allowing lifestyles insurance policy holders to switch from one insurer to any other without surrendering their current guidelines and for that reason losing a portion of the premium paid.

Discussions to allow portability in life coverage are in early ranges and it’s far probably to show up after the industry movements to a totally virtual form of transacting and coping with coverage products, said 3 human beings, such as a regulatory authentic, on the situation of anonymity because the discussions are yet to be formalized.

By permitting portability, the Insurance Regulatory and Development Authority of India (Irda) aims to store customers the price of surrenders whilst converting regulations if they’re unhappy with their current insurer. The regulator had already allowed portability in health insurance policies in 2011.

Portability can make existence less complicated for policyholders in terms of services and price, stated one of the 3 people mentioned earlier.

India’s life coverage region is the largest inside the international with about 360 million regulations. This variety is predicted to develop at an annual common of 12-15% over the following five years, in keeping with the India Brand Equity Foundation, a government agrees with below the branch of trade.

The portability plan is likewise in keeping with the authorities and Irda’s intention to lessen misspelling of coverage inside u. S ., the man or woman stated.

Under modern rules, this kind of transfer isn’t always allowed. If a policyholder desires to discontinue her present coverage earlier than it reaches adulthood, she has to pay a “give up fee”, which can be as much as 70% of rates paid till date.

The first individual stated that portability will need changes in underwriting regulations for insurers, standardization of charges, mortality and morbidity prices utilized by special insurers and obligatory electronic issuance. On 28 March, Mint reported that Irda is planning to invite existence insurers to problem guidelines simplest in a dematerialized (demand) layout past a detailed threshold top rate. A demand format for insurance serves the equal purpose as for equities: it is a unmarried-view, paper-loose, safe layout in an effort to also cut processing expenses for insurance companies and probably reduce charges as nicely.

“Trust is the main element within the coverage enterprise and portability can enhance efficiency inside the sector,” stated the second individual cited in advance. “It will take some time although, on account that some paintings wish to be performed.” Life Insurance: Back to Basics Life Insurance: A Slice of History

The current coverage contracts that we’ve nowadays such as existence insurance, originated from the practice of traders within the 14th century. It has also been acknowledged that extraordinary strains of security arrangements have already been in the region due to the fact that time immemorial and somehow, they are comparable to insurance contracts in its embryonic form.

The extraordinary increase of existence coverage from nearly nothing one hundred years in the past to its gift gigantic percentage isn’t of the fantastic marvels of present-day enterprise lifestyles. Essentially, lifestyles insurance have become one of the felt requirements of a human kind due to the unrelenting call for economic safety, the developing need for social balance, and the clamor for safety in opposition to the risks of cruel-crippling calamities and surprising monetary shocks. Insurance is not a rich guy’s monopoly. Gone are the times whilst only the social elite are afforded its safety due to the fact in this modern generation, coverage contracts are riddled with the assured hopes of many families of modest approach. It is woven, because it had been, into the very corner and cranny of the national financial system. It touches upon the holiest and most sacred ties in the life of man. The love of parents. The love of other halves. The love of youngsters. And even the love of enterprise.

Life Insurance as Financial Protection

A existence insurance coverage will pay out an agreed amount typically called the sum assured below sure instances. The sum confident in a lifestyles insurance coverage is supposed to reply on your monetary needs in addition to your dependents in the event of your dying or incapacity. Hence, lifestyles insurance gives monetary insurance or safety towards those risks.

Life Insurance: General Concepts

Insurance is a threat-spreading device. Basically, the insurer or the coverage company pools the premiums paid via all of its clients. Theoretically speak, the pool of charges answers for the losses of every insured.

Life coverage is a settlement wherein one party insures a person in opposition to loss with the aid of the death of another. A coverage on lifestyles is an agreement with the aid of which the insurer (the insurance agency) for a stipulated sum, engages to pay a certain amount of cash if any other dies within the time limited with the aid of the coverage. The fee of the coverage money hinges upon the loss of existence and in its broader sense, existence insurance includes a a twist of fate insurance, due to the fact that existence is insured under either settlement.

Therefore, the lifestyles coverage settlement is among the coverage holder (the confident) and the lifestyles coverage organization (the insurer). In go back for this protection or insurance, the policy holder can pay a top rate for an agreed period of time, based on the type of coverage purchased.

In the same vein, it’s miles essential to notice that life coverage is a valued policy. This means that it isn’t a contract of indemnity. The interest of the character insured in hello or any other individual’s life is generally not inclined of a precise pecuniary dimension. You truely can’t placed a fee tag on a person’s life. Thus, the measure of indemnity is something is fixed in the coverage. However, the hobby of someone insured turns into inclined of actual pecuniary size if it’s far a case regarding a creditor who insures the existence of a debtor. In this precise state of affairs, the hobby of the insured creditor is measurable due to the fact it’s miles based totally on the cost of the indebtedness.

Common Life Insurance Policies

Generally, existence insurance rules are regularly marketed to cater to retirement making plans, savings and funding functions apart from the ones mentioned above. For example, an annuity can thoroughly offer earnings for the duration of your retirement years.

Whole lifestyles and endowment participating policies or investment related plans (ILPs) in life coverage policies package collectively a financial savings and funding element along with insurance safety. Hence, for the same amount of coverage, the premiums will price you more than purchasing a natural coverage product like term insurance.

The upside of that bundled merchandise is that they tend to accumulate coins over the years and they’re eventually paid out once the policy matures. Thus, if your death gain is coupled with coins values, the latter is paid out once the insured dies. With time period insurance but, no cash cost build up may be had.

The not unusual practice in maximum international locations is the advertising of bundled merchandise as financial savings merchandise. This is one particular side of contemporary coverage exercise whereby a part of the charges paid with the aid of the assured is invested to accumulate cash values. The downside of this practice though is the rates invested emerge as subjected to funding dangers and in contrast to financial savings deposits, the assured cash price may be much less than the total quantity of charges paid.

Essentially, as a destiny policy holder, you want to have an intensive evaluation of your needs and desires. It is handiest after this step wherein you may carefully pick out the lifestyles coverage product that best suits your wishes and dreams. If your target is to defend your circle of relatives’ destiny, make certain that the product you have chosen meets your safety wishes first.

Real World Application

It is vital to make the most out of your cash. Splitting your existence coverage on multiple policies can save you extra cash. If you die while your children are three & five, you’ll need lots more lifestyles insurance safety than if your kids are 35 & 40. Let’s say your children are 3 & five now and in case you die, they may need as a minimum $2,000,000 to stay, to visit college, and so forth. Instead of getting $2,000,000 in permanent lifestyles insurance, with the intention to be outrageously high priced, just pass for term lifestyles coverage: $one hundred,000 for permanent life insurance, $a million for a 10-year term coverage, $500,000 for a 20-year time period insurance, and $four hundred,000 of 30 years time period. Now that is very sensible as it covers all this is important. If you die and the kids are thirteen & 15 or more youthful, they may get $2M; if the age is between thirteen-23, they get $1M; if between 23-33, they get $500,000; if after that, they nevertheless get $100,000 for final expenses and funeral costs. This is ideal for insurance needs that modifications over time because-because the youngsters grow, your economic duty also lessens. As the ten, 20, and 30 years time period expires, price of premiums also expires for this reason you can select to use that money to spend money on stocks and take dangers with it.

[personalfn-blog]

Loan Against Your Life Insurance Policy - All You Need To Know

Harjeet is all set to purchase a two-bedroom house in Mumbai. And he faced a situation most homebuyers generally face—falling short of funds. As you might be aware, there are several hidden costs involved in availing a home-loan along with high property rates. He additionally needs around Rs 1,50,000. After performing the requisite amount of research, he realized that personal loan would not be a viable option for him. He approached his friend, Prathamesh, a Certified Financial Guardian. Prathamesh suggested that Harjeet could opt for a loan against his life insurance policy. Are you looking for a loan too? A loan with very little documentation and low interest cost? You can apply for a loan against your insurance policy —which is a loan against security. So, how does loan against life insurance policy work? You can apply for loan against your insurance policy either through the insurance company or as collateral with the bank. Through this way, your policy will be pledged as collateral and the desired loan amount will be disbursed to you. Now, insurance policies are usually bought with an aim to safeguard self and family from the future uncertainty. But in case of an emergency, a loan against your insurance policy will enable you to leverage your existing insurance policy in times of need. As per IRDA’s guidelines, a loan facility is not available under Unit Linked Insurance plans (ULIPs) and a Term Insurance Policy. Traditional insurance policies such as endowment, money-back policies, etc. are eligible for loan. However, you need to check the terms & conditions of your insurance policy and enquire if your insurance policy qualifies for the loan facility. Eligibility criteria for loan against Insurance Policy Loan Value: The present value of your policy, if you wish to voluntarily terminate today, is termed as ‘Surrender Value’. Hence, the surrender value continues to increase with the term of your policy. Your loan amount depends on the surrender value, number of premiums paid, number of years completed or remaining, etc. Generally, 80-90% of the surrender value can be availed as loan against insurance policy. For example, if you have an insurance cover of Rs 20 lakh and its surrender value is Rs 5 lakh, you are probably eligible for a loan amount Rs 4.0-4.5 lakh. Another common method is the 50% of the total amount of premiums paid up till now. However, the loan amount calculation varies from company to company. Premiums: Your life insurance policy should have completed at least 3 years. In other words, it implies that you have paid premiums for at least 3 years prior to the loan application. During the loan tenure, the policyholder has to continue paying the premiums. If at any given point of time there is a failure to pay the premium, the insurer may terminate the policy. Documents Required: The documentation process is simple. But the documents required vary from company to company. Nevertheless, the following documents are commonly required:

Original Policy Document

Deed of assignment (under which the benefits of life insurance policy, against which the loan is taken, will be assigned to the insurance company or the bank)

Cancelled cheque (to deposit your loan amount into your account)

Loan Processing Fee: This fee is very low in the range of 0%-3% of the loan amount. Some insurers might also charge a flat fee. Nevertheless, the fee is comparatively lower than any other personal credit options available in the market. Interest Charge: Insurance companies charge an interest rate in the range of 10%-12% and are revised annually. Usually interest is paid every 3 months, 6 months, or annually, some insurers have a minimum 6 months duration. Under this regulation you need to pay the interest for minimum 6 months before you decide to foreclose your loan within 6 months. Still this is more economical as compared to personal loans which charge interest around 13%-15% p.a. Loan Repayment: Repayment options also vary. The loan amount is, ideally, meant to be repaid during the tenure of the insurance policy. The policyholder either has the option of paying back the principal or keep paying interest regularly. At the time of settlement, the loan amount will be deducted from the remaining claim. In case you consider the option of availing a personal loan, the loan repayment tenure ranges between 1 to 5 years. Loan Processing Procedure: Your loan can be sanctioned between 2-7days of the application. There is less scrutiny and a faster process to avail the loan. Default on Repayment of Loan: If you default the repayment or payment of premiums, your insurance policy will lapse. The insurance company has the rights to recover your loan amount/ interest from the surrender value. Here are two key benefits of loan against insurance… ✔ Low on cost: As the interest charge and other processing fees are much lower as compared to a personal loan, loan against your insurance policy becomes a viable option. ✔ Less scrutiny and easy documentation: The documentation process is simple and less cumbersome. Plus, the chance of your application being rejected is low. To Sum-up… Loan against insurance policy should be availed only in case of an emergency. And once you take a loan, it is imperative to diligently repay it as soon as possible, so as to reduce your interest outgo. And don’t miss paying your insurance premiums on time, as it can prove imprudent. In case of an untoward incidence such as death, you will be jeopardising the financial interest of you loved ones. Life is uncertain and hence, it is imperative take each step prudently. Below are 10 points to bear in mind before you opt for a loan:

Know your finances precisely

Ascertain why you are borrowing

Recognise what will be Debt-Income Ratio (D/I) (your total monthly debt commitments should not exceed 40% of your gross income)

Have a plan of how to re-pay your loan

Maintain a contingency fund

Ensure you hold adequate insurance

Save enough for the golden years and

Keep your family in the loop

Though loan facilities are available, you ought to take enough care before availing them.

his post on " Loan Against Your Life Insurance Policy - All You Need To Know " appeared first on "PersonalFN"