Skip to main content

Changes in Insurance Domain - LIFE INSURANCE

Tax Saving Mutual Funds Online

Current open Infra Bond Application form

Call 0 94 8300 8300 (India)

Wider Access In The Offing

It's the key regulatory change the industry is talking about, with the draft guidelines released just a few weeks ago. Banks are likely to be allowed to tie up with multiple insurers. This will give the customer more choice.


The proposed regulations will allow banks to join hands with more than one insurer, but it is subject to the area-wise segmentation laid out in the draft guidelines.


While the final regulations could take a very different shape, the fact remains that the flexibility to banks will certainly improve, resulting in more choices for the customers.

Pension Ulips Set For A Comeback

The revised guidelines on pension Ulips have come into effect from December 31. While products are yet to be filed under the new regime, life insurers seem to be fine with the new rules. Agents were pushing pension Ulips aggressively before September 2010. In 2011 though, very few companies launched these products under the new regime. Now, however, insurance-seekers keen on buying pension Ulips can look forward to the revival of such products this year.

Online On A Roll

The trend of selling term polices online took root in 2010 and branched out to many more companies in 2011. The unique selling point of these products is that they are much cheaper than their offline counterparts. We expect that internet sales as a channel will gain further momentum and will help increase the protection penetration as well as branching into health and savings products being introduced through that channel. Also, with Irda bringing out guidelines to regulate web aggregators customers can hope for better services.

Policies To Go Demat

In 2011, Irda gave a go-ahead to converting physical policies into the electronic form. By April 2012, this initiative could take concrete shape for life insurance policies. The key benefit, of course, will be convenience — both in terms of maintaining the documents and making changes when required. Also, the policyholders will not have to furnish details every time they buy a policy.

DTC Impact

For years, many a life policy has been sold on the basis of its tax saving ability — premium paid of up to . 1 lakh is allowed as deduction under Section 80C of the Income Tax Act. Come April 2012, however, things could change with the proposed implementation of the Direct Tax Code (DTC). Here, life and health insurance premium, along with children's tuition fees, are clubbed together, and the combined tax benefits amount to a maximum of . 50,000. This apart, you will not be eligible for the deduction if the annual life premium exceeds 5% of the sum assured in any year. While this spells bad news for insurance cum-investment policies, those opting for pure protection term covers need not worry. Besides being the cheapest life policies, most, subject to your age and health, are also likely to adhere to premium-to-SA ratio.

 Call 0 94 8300 8300 (India)

 

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

 

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

 

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

 

These Application Forms can be used for buying regular mutual funds also

 

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. HDFC TaxSaver
  2. ICICI Prudential Tax Plan
  3. DSP BlackRock Tax Saver Fund
  4. Birla Sun Life Tax Relief '96
  5. Reliance Tax Saver (ELSS) Fund
  6. IDFC Tax Advantage (ELSS) Fund
  7. SBI Magnum Tax Gain Scheme 1993
  8. Sundaram Tax Saver

---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

Current open Infra Bond Application form

 

Submit filled up application    Collection canter near you

Popular posts from this blog

Mutual Fund Review: Taurus Tax Shield

    Taurus Tax Shield has seen a turnaround in performance since 2007, but still remains a volatile offering… The fund has seen a turnaround in its performance since 2007 and has delivered impressively during market rallies since then. The portfolio is also more diversified. It contained its downfall to an average level in 2008 but is still one of the most volatile offerings in this category. Bold investors can look at this fund.   Strategy The fund manager invests across the market capitalisation and sectors. The selection of stocks is made on the basis of long-term business prospects and value creation. Fund Insight Launched in March 1996, the fund was a laggard with just two annual outperformances. Concentrated stock bets and high exposure to mid and small caps led to it being hit harder during market downturns. The number of stocks in the portfolio never exceeded 20 and it was not rare to see the top 5 holdings account for around 60 per cent of the portfolio. After b...
Read more

AXIS Long Term Equity Fund - The Best Tax Saver Fund for 2016

  AXIS Long Term Equity Fund - Invest Online   History:   The open ended mutual fund was launched on December 21 in the year 2009. It is benchmarked against BSE 200 and managed by the fund manager JINESH GOPANI. Initially the scheme was called as Axis tax saver fund but later it was renamed as Axis long term equity fund with effect from September 2, 2011. Nature of investment: As far as asset allocation is concerned, 97.52% of the stocks are equity and 0.02% is debt based. The primary focus of the fund is to invest in diversified equity stocks that have higher growth potential. Total asset size of the fund is in the tune of 4,996 CRORE as of June 30, 2015. Performance: The performance of the fund for one year, 3 years and 5 years are 23.6%, 29.9% and 19.1 respectively which are far greater than 6.4%, 14% and 5.6% benchmark figures. It has also preformed fairly well against SBI magnum Tax Gain (G) and HDFC tax saver (G). The growth comparison is enumerated below;                        ...
Read more

NRIs and direct taxes code (DTC)

DTC Proposes To Do Away With Special Provision That Allows NRIs Liberalised Duration Of Stay In Country      THE new direct taxes code could bring a large number of global Indians under the tax net, as it does away with a provision that allowed individuals to escape tax in any country citing double tax avoidance.    The new legislation, introduced in Parliament on Monday, says an individual shall be a resident of India in any financial year if he is in the country for more than 59 days in that year, and has been has been India for more 365 days in four preceding financial years. A number of Indian industrialists including Vedanta's Anil Agarwal and Essar's Ravi Ruia have acquired non-resident status over the years.    The DTC has only attempted to clean up the provision in line with the laws globally. A phrase "being outside India" in the existing income tax law exempted individuals who stay outside the country for six months from paying taxes. This was prone ...
Read more

Health insurance guide - Part I

Insurance, by definition, is morbid. What if I die suddenly? What if my home caught fire? What if I had to undergo expensive medical treatment? What if something that I thought happened only to others befell me? Insurers, who work with large samples, calculate the probability of such an event and, hence, the possibility of them having to pay out a sum of money to mitigate, to the extent possible, the effects of that disaster. However, the possibility of you undergoing some kind of expensive medical treatment during your lifetime is far more likely than you dying suddenly or your house burning down. Given that costs at private healthcare facilities, where you are most likely to land up, is high, and, doubling every four years 10 months or so, the rest of your money life could easily go out of whack if you had to incur such expenses. Just 12 per cent of India's population is covered with some sort of health insurance. Pared to the bone, for a comparatively small price, health insu...
Read more

IDFC Classic Equity Fund

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   IDFC Classic Equity Fund IDFC Classic Equity is a large-cap equity fund which currently has assets under management worth Rs. 158.52 crore. It was launched in August 2005. The fund is benchmarked against the BSE-200 Index. Performance YTD 1-Year 3-Year 5-Year Since Inception IDFC Classic Equity 0.93 26.61 6.30 1.01 11.65 BSE 200 1.52 17.31 6.00 1.99 12.98 All figures in % as on January 31, 2013; Returns above one-year in CAGR terms ...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now