Thursday, May 29, 2008

Calculate your retirement

The best ULIP in the industry at present is TATA AIG LIFE's INVEST ASSURE FLEXI...

The ULIP policy has great features which are listed below and the charges are lowest in the life insurance industry...

For the first two years, only 16% charges are deducted(84% invested), and for the next three years only 3% charges are deducted(97% invested). Later from the 6th year the whole premium amount is invested and that's a beauty... I have an excel file where you can input the Yearly Premium to pay and Rate Of Interest you assume to get, and you will get the result for the next 40 years...

You can download the excel file from this location:

Download File

Just edit the 2 cells, with black background and red text:
1. Premium, which is 25000 by default
2. ROI, which is 20% by default.

You will not believe, but the power of compounding is great. Compound interest is the 8th wonder of the world, I feel. Investing just Rs.25000/year will give you Rs.13,43,36,909!!! believe me 13 crores against an investment of just 10 lakhs.

Key features include:

* Provides security to your family in case of your unfortunate demise.
* Flexible Policy Term: You may choose the policy term from 5 years to 40 years depending on your needs.
* Flexible Premium Paying Term: You can choose premium paying term of 3, 5, 10, 15, 20, 25, 30, 35 or 40 years. You can also opt for a premium paying term which is same as policy term chosen by you.
* Flexible Sum Assured: The minimum sum assured is higher of 5 times or (policy term/2) times the annual premium.
* Seven Fund Options: Whole Life Mid-cap Equity Fund, Whole Life Aggressive Growth Fund, Whole Life Stable Growth Fund, Whole Life Income Fund, Whole Life Short-Term Fixed Income Fund, Capital Guarantee Fund, Large Cap Equity Fund.
* Minimum Issue age of 0 (30 days) and maximum issue age of 70 years with maximum maturity age of 80 years.
* Minimum Premium: Rs. 15,000 p.a.

It also has the critical illness insurance life as a rider.
To get life insurance quote online, contact me soon.

Sunday, May 25, 2008

Family Security = Life Insurance Policies

In order to preserve some kind of family security for the future, young couples with children can make a great use of a life insurance policy. Although this is the last thing that a young couple wants to think about after they got started with their new lives with many payments like rent, child-care and other, the policy is like a family security blanket for the future.

How much money coverage does family security need?

The basic rule is to buy a policy that would pay out 6-8 times your annual income in case of your death. The main idea for family security is that this amount of money would cover a part of surviving spending for a couple of years until he or she has time to adjust the balance. But sometimes for a better family security some couples want more then just 6-8 multiple if they want to cover some other expenses.

For your family security the next question will be if you want term or a whole life insurance.

A term insurance policy provides coverage for a specific period of time. Whole life insurances provide a cover for your family security as long as you live. Although, it is recommended for young couples to start with a term insurance that is a lot more affordable then a whole life insurance. However, later, if the family annual income rises up, for a better future family security the couple can have a whole life insurance.

The suggested policy for young families is considered to be a 20-year level term insurance. That could be coupled with a ULIP for a bigger blanket over their family security. This means that a 30-year-old person in good health could be expected to install family security by paying about Rs.3,000 a year for the level term policy of Rs. 15,00,000 and about Rs. 25,000 a year for the Rs. 15,00,000 ULIP life insurance. Still, there are all kinds of insurance policies made to preserve financial family security for all families out there that have a minimum income.

Thursday, May 22, 2008

Diabetic Life Insurance Information

Life Insurance Companies differ in their "underwriting philosophy" when it comes to diabetes. Offering life insurance for diabetics can be risky if the underwriters are not fully trained. Underwriters at the insurance companies that are fluent in underwriting diabetes have the ability to look at all of these factors and determine if the company will accept them as a risk. Moderately controlled diabetes cases would usually merit a "rating" or an increase in the premium, but not necessarily a declination for coverage. If the client with diabetes that is looking for life insurance is not controlled, then there are options - it will just cost them more for coverage!

Diabetic Life Insurance can be obtained no matter how severe the diabetes condition is. If the proposed insured has well controlled diabetes and a history of compliance with what the Doctor recommends, then the rate for insurance will naturally reflect that. The better the control, the better the rate. Clients with well controlled diabetes have a great chance at getting a lower rate from a regular insurance carrier and would qualify for a policy that is fully underwritten. If, at the other extreme, the client has very poor control over the diabetes, the rate will be higher and the client will have to go with a life insurance plan that guarantees acceptance. This type of life insurance is called "guaranteed issue life insurance".

Guaranteed issue life insurance for diabetics is more expensive than regular (fully underwritten) life insurance and is only sold as "whole life insurance". This type of insurance can be advantageous, though, because it builds cash value and is intended to cover the client for their "whole life" as opposed to a "term" period of time. Another provision of guaranteed issue is that the premiums paid into the policy would be paid to the beneficiary PLUS 10% interest if the insured dies within the first 3 years of the policy's inception. After that 3 year period of time, the guaranteed issue policy would pay the full death benefit to the beneficiary.

Fully Underwritten policies take the client's full medical records into account. The doctor's records are ordered, blood is drawn, a urine sample is taken, and a full screening is done to evaluate the client. If the insurance company decides to insure this applicant, it is after the company's underwriters look at the case. If the client is fully underwritten and passes through underwriting, then they would have more options than just whole life insurance (in the case of those who are in need of guaranteed issue whole life insurance). Term insurance, Universal Life Insurance, Survivorship Universal Life Insurance, and regular Whole Life Insurance would be available to these applicants that are fully underwritten.

When evaluating a client with diabetes, the underwriters at the insurance company take into account whether the client is a type one diabetic (type I diabetic, type 1 diabetic, type 1 diabetes, type I diabetes) or a type two diabetic (type II diabetic, type 2 diabetic, type 2 diabetes, type II diabetes). Another thing that the underwriters look at is whether the client is a juvenile onset diabetic or an adult onset diabetic. And yet Another determining factor is the Hemoglobin A1C level (this is a more comprehensive test, showing the blood sugar levels over about a 3 month period of time as opposed to a quick "snapshot" blood level test).

If the client's A1C level is below 8, then fully underwritten life insurance may be available subject to the client's full medical file. If the client's A1C level is above 8, then guaranteed issue life insurance is a more realistic goal.

One of the things that applicants fear in the case of insulin dependent type 1 diabetics is whether or not their insulin pump will prevent them from getting a life insurance policy. An insulin pump is actually a positive factor where life insurance underwriting is concerned because the client's insulin level is kept at a constant level.

How often the client monitors their sugar or glucose levels in their blood is another factor. If the client habitually monitors their glucose level, then this is seen as evidence of compliance on the part of the client. If, on the other hand, the client does not monitor these sugar levels, then this could be seen as a negative in the eyes of the insurers and underwriters.

Have there been any low sugar episodes? Have there been any high sugar episodes? Is the client taking glucovance, glucophage, insulin injection, or other type of medicinal treatment? Is the client controlling the diabetes with "diet and exercise"? These are all questions that will be asked during the underwriting process (unless you opt for guaranteed issue).

By the way...ANYONE can get guaranteed issue; you don't have to be "uninsurable". Again, this is the more expensive type of life insurance and it is advisable that if you CAN make it through an underwriting evaluation, you should try unless you just want to pay more and be done with it!

So what kind of companies will accept clients with diabetes? Personally, I deal only with "A" rated companies that have the right combination of price, customer service, product variety, and recognition in the market. I deal with companies that take clients on a case by case basis as opposed to categorizing them "by the book". I assure you that this company has the proper credentials to back up their policies.

Tuesday, May 20, 2008

Protect Yourself and Your Family

Hi buddies,

Lets talk of protecting yourself and your family today.

There are three main types of insurance covers you can buy to protect yourself and your family:
1. life insurance, 2. private medical insurance and 3. critical illness insurance/rider.

If you want your financial health to be completely bionic then you could choose all three types of insurance, but if your family finances are more restricted, it might be better to insure yourself with critical illness insurance and life insurance. Critical illness insurance should not be confused with private medical insurance or even income protection insurance and it’s important that you do a full evaluation of your needs before you pursue the different insurance options.

The purpose of critical illness cover (CIC) is to fill a gap that is left by traditional policies, which will only provide a pay-out on the death of the policy holder. CIC provides a tax free lump sum following the diagnosis of one of a number of life-threatening illnesses or certain types of surgery. The sorts of situations usually covered include the diagnosis of cancer, a stroke, a heart attack, the loss of a limb and many other serious disabilities.

Critical illness insurance policies are typically sold to cover mortgage repayments and are often sold alongside a package to ensure the borrower can repay the loan in all circumstances. It is worth noting that if a combined and critical illness cover package is taken out, then it would not be unusual for an insurer to pay out for only one of the events. Therefore if the policy holder suffers a critical illness and then dies at a later date, there will only be one pay-out – for the initial illness. It is essential whenever you take out a policy that you make sure it covers all of your needs and those of your family. Don’t estimate how much cover you may actually need. You will additionally need to consider the period for which you want critical illness cover, such as a set number of years to cover the mortgage or no fixed period at all, so you can maintain the policy as long as you need it.

For the majority of people, the most important benefit of critical illness insurance is to protect their mortgage and most mortgage protection policies allow you to include and critical illness cover. If you already have in place, you can buy an additional, separate critical illness insurance policy.


Saturday, May 17, 2008

Life Insurance Quotes For Adult Children

Shopping for life insurance quotes for adult children isn't any different than it is for adults or seniors. Underwriting issues can vary a little but essentially life insurance quotes for adult children follows the same routine.

Where we do see a difference is in qualifying. Some companies don't allow you to buy more than (2) times what the adult parent has, other companies may use other multiples. Underwriting also considers the premium paying capabilities of the person being insured and etc.

A certain amount of caution exists when companies receive applications for children. A simple explanation on the back of the application will normally set everyone at ease. Being a advocate of carrying insurance myself my uncle bought a life insurance policy on my 2 year old cousin simple to get him started at an early age and lock in the cheap rates. It also started a modest savings plans built into the policy.

My uncle included a feature to be able to buy more over the years at certain intervals with the guarantee issue feature that if for some reason my cousin couldn't qualify because of a health issue the company had to issue the agreed option amount. Normally we don't consider those issue to ever come into place but I knew that things like that happened.

Guess what, (20) years later the cousin got married. After the wedding and the smoke cleared they bought a bungalow, settled in and my cousin decided he should purchase more insurance. Over the (20) period prior to marriage he had had migraine headaches and the issue was never resolved as to why so the doctor prescribed vicodin for pain relief. When my cousin applied for the newly wanted additional insurance he was told no because of the pre-existing condition.

My uncle remembered the guarantee option on the policy he bought him years ago and he exercised that option, and was issued as promised at normal rate, no questions asked.

So I certainly encourage anyone to find life insurance quotes for adult children. You just never know what lies ahead.

Thursday, May 15, 2008

Compare Life Insurance Quotes, Easily

The best way to compare life insurance quote is to have several companies quote their premiums to you. Today you can go online and utilize free services that make it their business to compile databases with all the various information from hundreds of companies. The rating service gets a small fee from all the companies, therefore they aren't concerned with which one you buy. Now you truly compare life insurance quote.

Frankly this method is truly best for you because you've removed individuals from the process and any prejudges. The services are strictly mechanical without opinions or biases. Apply a little thought to what you're trying to accomplish. Put that into the quoting process and you'll likely find what you're looking for at a decent price.

We've seen major differences on a particular coverage from one company to another. The rates these companies charge are based on their loss experience and cost of doing business. The more volume they do the lower their cost per policy seems to be.

You go online select off a checklist what you want and within seconds you'll have a lot of information with which you can make a good decision. Rather than calling around through the yellow pages just put your mouse to work by going online. With your favorite drink in hand relaxing in your comfortable chair you'll get done in minutes what used to take hours to get accomplished.

Buying adequate amounts of coverage is a lot easier today than ever before and certainly more easier that’s for sure. It's great to be able to compare life insurance quote.

Monday, May 12, 2008

India's best Ulips

January 03, 2008

The winner is Tata AIG Life's InvestAssure II, which has scored primarily because its one-year return, at 72%, was way above the benchmark return of 53% of the BSE Sensex.

This despite the fact that it has a fund management charge of 1.75%, more than double the 0.8% that HDFC Standard Life charges.

At returns of 42.7%, HDFC Standard Life has underperformed the benchmark by about 10% points. In fact, Tata and Bharti have outperformed the index by 10% points or more.

Sunday, May 11, 2008

8 life insurance things explained

Hi folks,

For your reference, am posting some information about 8 life insurance things below:

1. Critical illness insurance:

Critical illness insurance will cover you in the event of a serious illness such as cancer, coronary artery by-pass surgery, heart attack, kidney failure, major organ transplant, multiple sclerosis and stroke. Additional conditions covered by this insurance can include aorta graft surgery, benign brain tumour, blindness, coma, deafness, heart valve replacement or repair, loss of limbs, loss of speech, motor neurone disease, paralysis/paraplegia, Parkinson’s disease, terminal illness and third degree burns. Not all insurance companies will necessarily cover all of these illnesses, whilst some insurance companies will cover more; it is always worth reading the terms and conditions before you sign anything.

Critical illness insurance policies typically offer a tax-free lump sum if you are diagnosed with one of the above illnesses and meet the conditions outlined in the policy contract.

2. Life insurance:

Life insurance is usually taken out if your family or partner is financially dependent on your income. C also be purchased as life assurance and in this form, can offer a method of protection cover and savings. However, most people simply use it as a form of financial protection for their mortgage and therefore their family. There are three main types of life insurance: term insurance, whole and endowment

3. Mortgage life insurance:

Mortgage is essentially the same as a decreasing (lump-sum) term policy and is designed to pay out a lump sum upon the death of the policy holder, should it occur during the term of the mortgage. The size of the lump sum will decrease over the term of the policy, in the line with the outstanding mortgage repayments. E.g. As you pay off your mortgage, the amount of cover will decrease as the need is less significant.

4. Mortgage protection:

Mortgage protection, also called mortgage payment protection, is a type of insurance that can help protect mortgage payments and associated household costs in the event of unemployment, illness or an accident. Through mortgage payment protection, you can insure your monthly mortgage payment, monthly life premiums and the monthly cost of your buildings and content insurance. Typical mortgage protection cover could include:

* Unemployment and disability insurance cover
* Accident or sickness
* Unemployment only insurance cover
* Disability only insurance cover

6. Loan payment protection:

Loan payment protection policies are designed to protect the repayments to any loans you may have taken out. They work on a similar basis to mortgage payment protection, but for a wider scope of borrowing. Premiums for loan payment may be greater than those for mortgage protection.

7. Income protection:

In the event of unemployment, sickness or an accident, income protection insurance offers a limited income. Do make sure you understand the terms of the policy however, as the income that you received through cover may be significantly less than the income you receive through employment.

8. Private medical insurance:

Private medical insurance is a policy which will provide financial cover for medical treatment in the event of an acute condition. The majority of insurers define an acute condition as “a disease, illness or injury that is likely to respond quickly to treatment which aims to return you to the state of health you were in, immediately before suffering the disease, illness or injury, or which leads to your full recovery.” Private medical insurance provides reassurance for people who know that treatment is available promptly should they become ill or injured.


I hope this would have helped you

Life Insurance. What Does This Mean To You?

Hi friends,

Lets start with Life Insurance. So, what does it mean to you?

For some it means security, knowing that their family or business is safe should they unexpectedly pass away. For others it conjures up images of pushy salesmen and confusion about what they are buying.

By learning about the different life insurance policies available, you can make an informed decision that will give you peace of mind and satisfaction with your responsible decision.

There are three main types of policies. Here is a brief explanation of what they mean:

1. Whole Life Insurance

Whole Life Insurance is a permanent insurance. This means that the policy stays in effect for your whole life, as long as premiums (payments) are paid up to date.

The cost of whole premiums will usually be more than the cost of an equivalent amount of term insurance because the cost is averaged. While the cost of term insurance goes up with each renewal, whole never needs renewing. Instead of paying smaller premiums when you're young and high premiums as you age, whole life premiums stay the same.

In some policies a savings option can be added which can be used to borrow against.

2. Universal Life Insurance

Universal Life Insurance is another form of permanent insurance. Like whole life, the universal life policy is in effect until you die. You never need to renew the policy (regardless of health) and the premiums will never go up.

Universal life also incorporates other financial services including a savings plan that can be made in addition to the policy. Otherwise the policy can be surrendered in exchange for the savings that have accumulated. Policy owners can often choose from many options including adding another person to the policy, managing their own investments or using the savings to cover the costs of premiums.

Universal is the most expensive option because of the amount of flexibility and options.

3. Term Life Insurance

Term Life insurance is the least expensive policy option. Term insurance is selected for a certain period of time (term) such as; 1 year, 5 years, 10 years or 20 years or anything.

Term life insurance is a good choice for young families with dependants and high debts (such as a loans, mortgage) that they will be no longer be responsible for in 15 to 20 years when the policy ends. Term life insurance has no cash value & it cannot be borrowed against or cashed in. If the policy ends and the individual wants to renew the policy the cost of premiums will be higher.

Using term insurance to cover the basic financial requirements of an individual while also instituting a separate savings plan may reduce the need for insurance later in life.

Get back to me with your queries...

Tuesday, May 6, 2008

The Best Rates On Life Insurance

Finding the best rates on life insurance is not difficult any longer. With a few simple key strokes you open up a vast array of services on the internet to help you find the coverage you want and the best rates on life insurance.

Without outside influence and distraction you'll be able to examine and think through your final choice. There's not any major difference in the base rates that life insurance companies charge. That thinking came about years ago as agents would quote us their preferences. We needed to check with different agents and the prices varied a lot, but because of policy types not the rates.

So, no longer do we need to be subjected to single mindedness or purpose as the internet lets you look at whatever you wish. After reviewing your options you could still call your agent if you have questions and then even buy that kind of policy and amount from your agent if his company has it.

The internet quoting service doesn't charge you to use their service and encourage you to buy online. They make more money from the sale as they don't need to pay an agent commission. But they don't get every sale for the reason I just discussed. But they get enough to justify their expense of maintaining an internet presence.

Remember, the rates are pretty much so fixed. It's the kind of policy and amount that really establishes your rates. All the life insurance companies use the same mortality factors, what can vary is the cost of their doing business. If a large company is efficient then their cost will be lower since their volume is much higher than a smaller company.

So, sit back relax with your favorite drink, kick off the shoes, boot up your computer and go online to find the best rates on life insurance.

Sunday, May 4, 2008


This blog is a personal blog written and edited by me. For questions about this blog, please contact Ojal Suthar.

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