Wednesday, November 19, 2014

Why should I insure myself?

Please contact Kunal Bhatia (me): 9860002486, I'm on Whatsapp also.

To know why? Listen this hindi audio:

We all work, we all earn, we all consume our earned income.

Step1: 
Its our daily job to go at office/shop/business, to work there, so that we get what we deserve, we earn our monthly salary. We all have a process to create income for our living.

Step 2:
We all need our basic needs (i.e. food, clothing, shelter and a source of entertainment). We all have some liabilities, some have to pay house rent other flat maintenance charges. We all pay taxes example: house tax, road tax, income tax, vat tax and so on). We all consume income we created in step 1.

Step 3:
We create income, we consume income, so our bank account should have zero balance!!!

But do our bank account have zero balance? No, We all save a percentage of amount we earn, so that we can spend it when something good or bad happens. Some people buy property, some buy Gold, some buy stocks/mutual funds, other just save it in bank. Hence We all conserve our earned income.

But for an instance assume we lose our source of income, we lose our one member of the family because of which our income is created. In this case will our needs stop, will we tell our children 'now we don't have income so we'll not buy you toys', will we stop giving rent, will we stop paying taxes?

No, these will keep piling up, here we will break our mutual funds, sell our stocks, if condition is worse even sell gold or our property. But is this decision correct?

Again No, So what's the solution?

Step 4:
Continuation of money, even when our all sources of income are stopped, our investments will feed us with money needed to run our life. A insurance policy after death, pays a big amount to your family,

A insurance policy which on maturity pays you and your family a big amount so that you could fulfill that big dream and still continues to cover your life. (Listen to Jeevan Anand).

A insurance policy which gives you a percentage of money in after  every particular duration, so that you could overcome hurdles of life. (Listen to Moneyback).

A insurance policy with so little premium, that you can easily manage and big return at maturity with life cover. (Listen to Jeevan Rakshak).

We all should always invest in LIC's insurance policies as, they are here from very long time and always with us when we need them.

Contact me Kunal Bhatia: 9860002846, for any information on policies, I'll assist you to buy a good policy for you.

Monday, November 10, 2014

Lic's Jeevan Rakshak

Please contact Kunal Bhatia (me): 9860002486, I'm on Whatsapp also.

Jeevan Rakshak Policy also know as "Aam Aadami Policy" is an Endowment Plan, meaning benefit is paid either on maturity or on death whichever comes early.

To understand this policy better listen to the below audio


Features of this policy are:
  • Double Accident Benefit – Allowed with Additional Premium
  • NO Medical Check up Required 
  • Loan – Allowed after payment of premiums for at least 3 years.
  • Suicide Clause – If life insurance policy holder commits suicide at any time within 12 months from date of commencement of risk LIC will not entertain any claim under this policy.
  • Free Look Period – If policy holder is not satisfied with “Terms and Condition” of policy he/she may return policy to LIC stating reason within 15 days from date of receipt of policy.

Now, see below an example:

Age at entry: 25 years
Premium paying term: 20 years
Sum Assured: Rs.2,00,000/-


1st Year with TAX 3.09 % 
Yearly: 6997     [6787 + 210]
Half-Yearly: 3535     [3429 + 106]
Quarterly: 1786     [1733 + 54]
Monthly: 595     [578 + 18]

From the 2nd Year with TAX 1.545 % 
Yearly:  6892     [6787 + 105]
Half-Yearly: 3482     [3429 + 53]
Quarterly: 1759     [1733 + 27]
Monthly: 586     [578 + 9]

You've invested (6997 X 1) + (6892 X 19) = 137945/- in 20 years, Calculation done on Yearly premium.

So your approximate Maturity Calculation will be:
Total Maturity: 300000/-