Review: iNVESTSHIELD Plan by Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited

Introduction

A rewarding financial plan has become a necessity in the times we live. Without a proper plan it is impossible to protect yourself in adverse situation.

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited is a joint venture of India's largest public sector banks – Canara Bank (holding 51%) and Oriental Bank of Commerce (23%) – and HSBC Insurance (Asia Pacific) Holdings Limited (26%) which was launched in June 2008. 

The Company currently has a customer base of 60 million customers with over 8000+ branches of Canara Bank, HSBC and Oriental Bank of Commerce in India. Canara HSBC Oriental Bank of Commerce Life Insurance aims to pass on the savings to customers through lower charges.

The Company's policies are among the most competitive in the Market today

Getting to know about iNVESTSHIELD PLAN

Your financial plan can play an important role in reaching your dreams and provides you with ways to cater the needs of your family.

iNVESTSHIELD Plan helps you benefit based on your needs. The process is simplified to avoid you the trouble of going through a cumbersome process and get yourself insured directly.

Benefit Options in this Plan

iNVESTSHIELD Plan comes in three flavors viz Life Option, Life Option with ADB and Life Option with PFB.

Life Option gives you protection against Death whereas Life Option with ADB gives you a protection on Accidental Deaths. If you plan to go ahead Life Option with PFB, the dependents will be provided with premiums.

Below are the key benefits which makes this an attractive policy

The policy can be brought directly www.canarahsbclife.com

The policy allows you to customize the plans as per your needs thus providing you the power to choose what you need the most.

Zero Premium Allocation Charge throughout the premium payment term of your Policy

Loyalty Additions as additional allocation of units to boost your investments

Choice of Investment Funds ranging from 0% to 100% equity exposure, to match your appetite towards investment risks and returns

The policy provides Safety Switch Option to move your funds systematically to a relatively low risk Liquid Fund to avoid market movements in the last four Policy years

Liquidity to take partial withdrawals to help you meet unplanned contingencies

Tax benefits on premium paid and benefit received during Policy term under Section 80C and Section 10(10D), as per the Income Tax Act, 1961, as amended from time to time

What are the features of iNVESTSHIELD Plan

Safety Switch Option11: This option allows you to transfer your funds to a low risk Liquid Fund during the last four years of your Policy. This allows to avoid market movement and thus safeguard your funds. The following table shows the proportion of investment in Liquid Fund and other than Liquid Fund, for the last four Policy Years:

Beginning of...	Allocation in Liquid Fund	Allocation in Unit Linked Funds other than Liquid Fund
Fourth last Policy Year	30%	70%
Third last Policy Year	60%	40%
Second last Policy Year	90%	10%
Last Policy Year	100%	0%

Settlement Option10: You can choose to receive your maturity benefit over a maximum period of 5 years in installments through Settlement Option as per the frequency chosen by you. You can at any point in this time period wish to withdraw complete Fund Value. Though during this installment period there will be no life cover.

Switching: You can move your investment from one investment fund to another any time you want. You can switch it partially too. The minimum amount that you can switch is Rs 5,000 by paying a nominal charge.

Premium Redirection:  You can during the Policy Term change the allocation proportion of your future Premiums into one or more Unit Linked Funds. The redirection of premiums will be free of cost and will be allowed once in a policy year. In case this option is not availed, it cannot be carried forward to the next Policy Year. The revised allocation proportion will apply to your subsequent Premiums.

Key Details of iNVESTSHIELD Plan

Particulars	Details
Entry Age (Life Assured)	Minimum:18 years, Maximum:50 years
Max. Maturity Age	Minimum:28 years, Maximum:65 years
Premium Amount & Premium Payment Modes	Mode Minimum Maximum Annual 25,000/- per annum No Limit Monthly* 3,000/- per month Single 50,000/- Single Premium Payment option is not available under ' Life Option with PFB'
Premium Payment Term	•Single •Limited :5 years to (Policy Term - 1) •Regular :Equal to Policy Term
Policy Term	•Single Premium Payment:10 years (fixed) •Limited & Regular Premium Payment:10 years to 15 years
Sum Assured	Premium Payment Term Minimum Maximum Single 1.25 times of Single Premium 10 times of Single Premium up to age 37 years only Please note that under Single Premium Policy only two Sum Assured multiples of 1.25 or 10 times Single Premium are allowed. Sum Assured multiple for more than 1.25 times and less than 10 times Single Premium are not allowed. Limited & Regular 10 times of Annualized Premium#

^*please note that it is mandatory to pay 3 months premium in advance and subsequently through standing instruction.

General Observation & Verdict

iNVESTSHIELD Plan is a competitive policy which provides you the flexibility to choose to your plan as per you own needs. This plan has features which safeguards the finances of the policy holders.

For more Financial Plans & reviews - Stay Tuned to ReviewsToday.

Read more ...

Review: New India Portfolio - A great wealth creator

Introduction

India is shining. Year 2014 was transformational as for the first time Indian voters had chosen a full majority based Govt. under leadership of Mr. Narendra Modi. Ever since the sentiments of the market, businesses, industries & foreign investment had been all time high. With Sensex crossing over 30K mark was indeed historical. The Indian market has never been so rewarding. Even with recent economic challenges in Greece & in many parts of the world, the Indian Stock Market is poised to grow. With Prime Minister Modi’s MADE IN INDIA campaign, one can clearly see financial products like Mutual Funds, Equities, NPS, NFOs, Insurance & Bonds to grow big.

The end objective of any financial product is to offer higher ROI (Return on Investment) in shortest time possible. Hence it is even important to invest in right kind of products based on your capacity, risk appetite, savings target & duration. In our post today we shall be talking about one unique product which shall lead to a good long-term investments & wealth growth – New India Portfolio from FundsIndia

Getting to know about New India Portfolio from FundsIndia 

India’s macroeconomic indicators are on positive recovery over last few months . The reason for this recovery & positive growth is due controlled inflation, better improved deficit situation due to lower crude prices, and the stable currency are some of the improving macro economic factors. RBI too had been pushing lower interest rate which is fueling business growth all over. The New India Portfolio is a financial product comprising of powerful set of four mutual funds that are set to profit from house of FundsIndia.com . They have a strong research team who have analyzed thousands of schemes to identify the four funds that are best positioned for maximum profit & ROI. The product is backed with powerful features and tools, making your investment transactions a cake-walk. They provide a dedicated advisory service so that you are fully aware about your portfolio in proactive manner. The end objective is to ride on India's growth story and provide a long term wealth creation.

Also read: Best Critical Illness Plan in India from Edelweiss Tokio Life

Framework of New India Portfolio

​FundsIndia, the creators of NIP have analyzed several funds and have shortlisted small sets of 4 Funds which is aimed not only to give you higher ROI but also stability by minimizing the risk of investments. Stability, together with portfolios tuned towards reviving sectors and themes, is major usp which distinguish this 4-fund portfolio from regular funds.

The healthy mix of 4 funds in this portfolio are as follows:

a) A diversified fund – A diversified fund with premium blue chip companies and a general bias for large caps can provide stability to the portfolio.

b) A mid-cap fund – A mid-cap fund will help you capture the potential in quality mid-sized companies that usually outperform broad markets. The fund has a consistent track record of more than 5 years

c) A diversified theme fund – This fund is meant for investing in multi-themes (infrastructure, resources, finance, social development, and agriculture) that are meant to act as building blocks for the economy. This fund can be expected to benefit well from a revival in cyclical sectors.

d)A long-term debt fund – Aimed to ride the interest rate rally (when rates fall) and to provide meaningful asset allocation, with addition of an income fund that is well placed now to gain from falling rates (price rally when rates fall). The fund seeks to play the credit spread – which is the difference between the government bond (called gilt) and corporate bond rates.

On a risk-reward basis, the New India Portfolio is slated above large and mid-cap funds, but lower than thematic and sector funds. This portfolio could be more volatile than a pure large cap portfolio, but well positioned to deliver better returns in the long run. 

General Observation & Verdict

FundsIndia is India’s top notch convenient online and mobile platform for investing. It is registered with all regulatory bodies & Financial Institutions like SEBI, AMFI, BSE, CDSL, CIBIL & CIRL. Founded in 2009, the firm has expanded multiple folds. It allows you to get access to multiple investment products – mutual funds, equities, corporate deposits, insurance, loans, 24 Karat gold, and more. The 2nd benefit is that it is completely online – purchase , track, get advisory services and more without any paperwork. The best feature is NIP – New India Portfolio, which is poised to give you highest returns with moderate risk.

For more reviews on Financial Services – stay tuned to ReviewsToday.

Disclaimer: Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing. Past performance is not indicative of future returns. Please consider your specific investment requirements before c`hoosing a fund, or designing a portfolio that suits your needs.

Read more ...

Review: Edelweiss Tokio Life - CritiCare+

INTRODUCTION

With the technological advancement, the quality of our life has improved impeccably.The new world has different challenges every single day which puts our health at risk.A critical illness can put your job at stake and adds additional pressure on your family. Hence it becomes very important for us to protect self and our families' interest. With smart planning you can not only safeguard yourself of the finances and the dependent family but also stay worry-free about the future. However one question that keeps arising in our mind - which health insurance offers maximum features at an affordable price. In our post below, we shall be reviewing one of the best insurance in critical illness space.

GETTING TO KNOW EDELWEISS TOKIO LIFE - CRITICARE+

One such critical illness health insurance policy in the market today is Edelweiss Tokio Life - CritiCare+. The feature that really strikes is the flexibility Edelweiss Tokio Life -CritiCare+ offers  with eligibility ranging from age 18 to 65. The policy can be bought for a period anytime between  5 to 30 years with annual premium payment frequency.

In addition to above eligibility, below are the benefits of opting to Edelweiss Tokio Life -CritiCare+

1) The policy can be claimed 3 times during policy term under MultiClaim Option
2) The policy covers over 17 critical illness which can be divided into four groups for multi-claim option
3) If you go for higher sum assured you get several discounts
4) The policy is designed in such a way that it is easy to understand with no hidden charges
5) Get tax benefits for premium and claim amount

KEY FEATURES

The product come with two options:

Single Claim option: Under this option, a lump-sum benefit equal to the Sum Assured will be payable on the survival of life insured for 28 days following the date of confirmed diagnosis of Critical Illness and the policy will get terminated.

MultiClaim option: Under this option, the life insured can get benefit for upto 3 claims. Life insured can claim for Critical Illness only once from one group. Subsequent to a claim, the Life insured will still be eligible for benefits for critical illnesses falling under the other groups.
The benefits on each claim are as below and are payable on survival of life insured for 28 days following the date of confirmed diagnosis:

1st Claim – Sum Assured is payable and all future premiums are waived off
2nd Claim – Sum Assured is payable
3rd Claim – Sum Assured is payable and policy will get terminated

Edelweiss Tokio Life -CritiCare+ also offers a Free Look Period which allows you to go through the coverage amount, policy specifications and the other terms and conditions under the policy. If you disagree with the terms and conditions, you can return the policy within 15-30 days from the date of receiving your policy, stating the reason for your cancellation. Premium paid will be refunded after deducting proportionate risk premium, stamp duty and cost of medical expenses, if any.

GENERAL OBSERVATION & VERDICT

Edelweiss Tokio Life -CritiCare+ is simple to understand critcal illness insurance which offers very attractive benefits. With Free Look Period you can choose to return the policy if it doesn't suit your criteria. It's a must have policy, hence you should buy it as early as possible.

To download a copy of free CritiCare+ Brochure : Click Here

For more product reviews, stay tuned to ReviewsToday.

Read more ...