Bajaj Allianz Life Insurance has announced the launch of a unit-linked plan that offers a minimum guarantee of 170% at maturity. This Ulip with guaranteed returns will be available for customers from January 11. This is a single-premium life insurance policy, known as Shield Plus, and the term is fixed at 10 years and the minimum premium requirement is Rs 25,000. The returns, which work to around 5.45% on this product, could be compared to that of a bank or a post office deposit. But since the product has an equity exposure, there is a strong possibility of outperformance over the long term, say experts. The sum assured could be equal to 1.1 times or five times of the single premium paid, which takes care of the protection element of the Ulip. However, the insurer has capped the maximum sum assured at 1.1 times the single premium for individuals in the age group of 56-65 years. The product offers a choice of six funds but only Shield Plus Fund offers minimum guaranteed unit price at maturity.
As the name suggests, it's an electronic process through which money can be transferred from one bank account to another. According to RBI, this mode is usually used for regular payments and receipts, like distribution of dividend, interest, salary, pension etc. This mode is also used for collection of bills for telephone, electricity, water, various types of taxes, payment of EMIs , investments in mutual funds , payment of insurance premium etc. There are two types of ECS , like most other banking transactions, ECS credit and ECS debit. An ECS credit is used by a bank account holder , usually a large company or an institution for services like payment of dividend, in terest, salary, pension etc. If your mutual fund pays you dividend to your bank account, of all probability it is being paid through ECS credit.ECS debit, on the other hand, is used when a company or an institution is getting money from a large number of people. For example if you are investing in a mutual fund sc...
