Choosing health insurance
Trying to understand health insurance can be tough.
With different health benefit packages luring workers to employers, understanding the inner workings of health plans is becoming more and more important.
When picking a health plan, smart consumers must pay attention not only to the small print but also to the details that come with it.Many websites including healthinsurancesort.com provide resources that help customers better navigate the health insurance marketplace.
Insurance you don't need
Insurance policies provide us peace of mind in the face of the unknown. But that doesn't mean that you should get suckered into every type of insurance out there. In some cases, you're already winning. Here are the policies you do not need.Extended warranties. They're usually not worth it, especially if you're buying a small electronics item such as a DVD player.Rental-car insurance. Before you pay the extra cash to insure a car you're renting, check your own auto insurance policy first. According to the Insurance Information Institute, in most cases, the coverage on your personal car policy will apply to a rental car (if it's for pleasure and not business).Flight insurance. The chance you will be involved in a plane crash is extremely rare. According to the PBS show Nova, the average American's chance of being killed in a plane crash is 1 in 11 million. Besides, your life insurance policy should already cover you in these casesLife insurance for kids. Life insurance is to make sure that your dependents are secure in the event of your death.Credit-card insurance. This coverage will pay your credit-card bill if you can't make your payments due to job loss or disability.Disease insurance. If you're pitched specific insurance policies that cover cancer, heart disease or other serious illnesses, don't buy them. There's a better way to protect yourself -- it's called health insurance.
Trying to understand health insurance can be tough.
With different health benefit packages luring workers to employers, understanding the inner workings of health plans is becoming more and more important.
When picking a health plan, smart consumers must pay attention not only to the small print but also to the details that come with it.Many websites including healthinsurancesort.com provide resources that help customers better navigate the health insurance marketplace.
Insurance you don't need
Insurance policies provide us peace of mind in the face of the unknown. But that doesn't mean that you should get suckered into every type of insurance out there. In some cases, you're already winning. Here are the policies you do not need.Extended warranties. They're usually not worth it, especially if you're buying a small electronics item such as a DVD player.Rental-car insurance. Before you pay the extra cash to insure a car you're renting, check your own auto insurance policy first. According to the Insurance Information Institute, in most cases, the coverage on your personal car policy will apply to a rental car (if it's for pleasure and not business).Flight insurance. The chance you will be involved in a plane crash is extremely rare. According to the PBS show Nova, the average American's chance of being killed in a plane crash is 1 in 11 million. Besides, your life insurance policy should already cover you in these casesLife insurance for kids. Life insurance is to make sure that your dependents are secure in the event of your death.Credit-card insurance. This coverage will pay your credit-card bill if you can't make your payments due to job loss or disability.Disease insurance. If you're pitched specific insurance policies that cover cancer, heart disease or other serious illnesses, don't buy them. There's a better way to protect yourself -- it's called health insurance.
Life Insurance Corporation of India
New Products of Life Insurance
Life Insurance Corporation of India (popularly known as LIC in short, throughout India for the past 5 decades) today is technologically improved and is the biggest profit earning public sector insurance company in India and in the world.It has vast infrastructure to provide service to the people of India, unlike other private insurance Companies in India. Indians trust LIC more than any other private insurance company.The latest products of LIC which are unit linked, are a great success amongst people.LIC invests the money of its policy holders wisely in share market and shares the huge profits derived with its policy holders.Bima Plus, the product of LIC of India is a great success story and bears testimonial to the above statement.
J E E V A N A N A N D
SuitabilityThis policy is a combination of a whole life plan and with profit endowment plan. It is suitable for people who wish to provide for their dependents, insured sums,limit the premium payment term to their earning period and at the same time provide for their old age.Salient FeaturesThe plan combines the virtues of both whole life plan and endowment plan.Under the plan, premiums are limited to the term chosen and benefits are payable on the date of maturity. But the insurance cover on the life assured continues till death, like a whole life policy.Bonus accrues during the premium paying term and is payable at the end of the premium paying term or on earlier death along with Final Additional Bonus. No Bonus is paid on death after the premium paying term.Double Accident Benefit is available during the premium paying term and thereafter up to age 70 wherein additional sum assured is payable on death due to an accident. This benefit is built in and no additional premiums needs to be paid. Maximum Accident Cover available under this plan will be Rs. 5 lakh ( this limit excludes accident benefit taken under other plans).Premium payment can be Monthly, Quarterly, Half yearly, Yearly and SSS.BenefitsOn Survival to maturityFull sum assured along with Bonus is payable. Policy does not cease and insurance cover continues till death.On Death within the term:Full sum assured along with the bonus is payable and policy ceases.On death after the term of the policy:Full sum assured is payable.Other ConditionsMinimum Sum Assured : Rs.100,000Minimum premium must be Rs.800 per annumMinimum age at entry :18 years .Premium Paying term : 5-57 yearsMaximum age at entry : 65 years normally but 60 years for single premium policy .
Premium can be paid in one instalment or in instalments of 3,4 or 5 years.The premium allocated to purchase units under the plan will be invested according to the investment pattern chosen from among the four different fund typesBond,Secured,Balanced andGrowth.Optional riders like Critical illness benefit and accident benefit are also available and the premium paid by the policyholder after deduction of administrative charges, fund management charges, risk premium and premium for riders opted will be invested in the fund type chosen.The minimum premium isRs 20,000 for single premium andRs 10,000 pa for Limited premium paying term policies.The plan is available for persons aged 0 to 65 years.There is no bid offer spread i.e. the sale and purchase of the units will be the same as the NAV declared on day to day basis.There will be option to switch over from one fund to another fund.Within a given policy year four switches will be allowed free of charge.Partial withdrawls are allowed after the third policy anniversary after atleast three years premia have been paid.Higher of the sum assured or the policyholder`s fund value shall be available as death benefit.On maturity an amount equal to the Policyholder`s fund value is payable.
Life Insurance Corporation of India (popularly known as LIC in short, throughout India for the past 5 decades) today is technologically improved and is the biggest profit earning public sector insurance company in India and in the world.It has vast infrastructure to provide service to the people of India, unlike other private insurance Companies in India. Indians trust LIC more than any other private insurance company.The latest products of LIC which are unit linked, are a great success amongst people.LIC invests the money of its policy holders wisely in share market and shares the huge profits derived with its policy holders.Bima Plus, the product of LIC of India is a great success story and bears testimonial to the above statement.
J E E V A N A N A N D
SuitabilityThis policy is a combination of a whole life plan and with profit endowment plan. It is suitable for people who wish to provide for their dependents, insured sums,limit the premium payment term to their earning period and at the same time provide for their old age.Salient FeaturesThe plan combines the virtues of both whole life plan and endowment plan.Under the plan, premiums are limited to the term chosen and benefits are payable on the date of maturity. But the insurance cover on the life assured continues till death, like a whole life policy.Bonus accrues during the premium paying term and is payable at the end of the premium paying term or on earlier death along with Final Additional Bonus. No Bonus is paid on death after the premium paying term.Double Accident Benefit is available during the premium paying term and thereafter up to age 70 wherein additional sum assured is payable on death due to an accident. This benefit is built in and no additional premiums needs to be paid. Maximum Accident Cover available under this plan will be Rs. 5 lakh ( this limit excludes accident benefit taken under other plans).Premium payment can be Monthly, Quarterly, Half yearly, Yearly and SSS.BenefitsOn Survival to maturityFull sum assured along with Bonus is payable. Policy does not cease and insurance cover continues till death.On Death within the term:Full sum assured along with the bonus is payable and policy ceases.On death after the term of the policy:Full sum assured is payable.Other ConditionsMinimum Sum Assured : Rs.100,000Minimum premium must be Rs.800 per annumMinimum age at entry :18 years .Premium Paying term : 5-57 yearsMaximum age at entry : 65 years normally but 60 years for single premium policy .
Premium can be paid in one instalment or in instalments of 3,4 or 5 years.The premium allocated to purchase units under the plan will be invested according to the investment pattern chosen from among the four different fund typesBond,Secured,Balanced andGrowth.Optional riders like Critical illness benefit and accident benefit are also available and the premium paid by the policyholder after deduction of administrative charges, fund management charges, risk premium and premium for riders opted will be invested in the fund type chosen.The minimum premium isRs 20,000 for single premium andRs 10,000 pa for Limited premium paying term policies.The plan is available for persons aged 0 to 65 years.There is no bid offer spread i.e. the sale and purchase of the units will be the same as the NAV declared on day to day basis.There will be option to switch over from one fund to another fund.Within a given policy year four switches will be allowed free of charge.Partial withdrawls are allowed after the third policy anniversary after atleast three years premia have been paid.Higher of the sum assured or the policyholder`s fund value shall be available as death benefit.On maturity an amount equal to the Policyholder`s fund value is payable.