Thursday, July 31, 2008

Nuclear Deal - Is It Worth?

So, finally the INDIAN GOVERNMENT won the VOTE OF TRUST on July 22nd, 2008. The Prime Minister of INDIA, Dr. Manmohan Singh, and the CONGRESS Party managed to win the TRUST VOTE, with the help from SAMAJVADI PARTY. Instead of the bundles of currency notes (of 1000 INR) shown by the BJP MPs, the GOVERNMENT managed to secure 275 votes in favour and 256 were against it.

And on July 23rd, 2008, the INDIAN STOCK MARKET (SENSEX) managed to show sharp positive upmove gaining nearly 6%, that too closing in green on straight 5th session.

But was all this worthy for the nuclear deal? Facing so much INFLATION (12% nearly), wasn't INDIA required to focus on INFLATION?

Let's take a look at the nuclear deal now. This is the first time a nation is seeking permission to trade with the member countries of NUCLEAR SUPPLIER'S GROUP (NSG), without signing the NUCLEAR AGREEMENT and without showing all the operations of NUCLEAR UNDERTAKINGS to the INTERNATIONAL ATOMIC ENERGY AGENCY (IAEA). If this nuclear deal is completed finally, then INDIA will be an undeclared NUCLEAR POWERED NATION.

Actually, this deal is not for the nuclear energy. The PM of INDIA says this nuclear deal is necessary for fulfilling the electricity needs of INDIA. But if we believe the PLANNING COMISSION OF INDIA, even after this deal is finalized, INDIA will only be able to produce only 40,000 MegaWatt of power by 2020, which will be only 9% of the total production of INDIA.

All the countries in the world, those started producing electricity from nuclear power have either shut down their power generation units, or are not setting up new units. USA itself has not set up a single unit in the last 30 years. France, which generates 75% of the power from these sources, will be setting up only 1 unit in the coming years. Japan is also focusing on Renewable Sources of Energy, instead of nuclear power, and spending a lot on R&D. Even Australia, the largest supplier of Uranium (required in producing nuclear power), does not have a single unit to generate power from nuclear energy.

INDIA has produce just 3,000 MegaWatt of power from nuclear energy in the past 10 years. USA has so many hidden profits in the nuclear deal. The USA Parliament has been informed that within approximately 15 years, there could be a war between CHINA and USA. And USA wishes that INDIA should support USA in that war. Thats why from the last 7 years INDIA and USA are engaged in the joint military trials.

Apart from this, INDIA will be a potential customer for the on-the-verge-of-extinct nuclear market. Also many of the USA companies have either entered or are ready to tap the potential of INDIA market for consumer durables, cold-drinks, packaged drinking water, agriculture, service sector, insurance sector, entertainment sector, retail sector, etc. After the nuclear deal, if these companies harm the rights of INDIAN consumers, it will be hard for INDIA to take action against these companies. In the past, INDIA was unable to take action against COKE and PEPSI, even after there were so many allegations (and even proofs) of using underground water, findings germs in the drinks, etc.

It seems USA has started influencing INDIAN POLITICS and Dr. Manmohan Singh feels himself more unswerable to Goerge Bush than the INDIAN population. That's why ignoring all the internal problems of INDIA, the PM of INDIA focused only the nuclear deal. Don't the PM of INDIA know what was the result of focusing on INDIA SHINING, which was launched ignoring the basic problems of mass population? The general elections, due next year, will decide who have won the trust of INDIAN public.

Sunday, July 13, 2008

How A Missing Signature Killed The Dreams Of The Sharmas

The headline and accompanying article were only 3 sentences long:

"Tragedy Strikes Local Family - Rajesh Sharma was killed yesterday evening in a single car accident when the vehicle he was driving hit a patch of ice and lost control striking a concrete bridge support. He is survived by his wife and three children.”

Can two sentences sum up the life of Rajesh Sharma?

No way. You see I knew Rajesh Sharma and I bet you have friends just like him. A great guy, a loving husband and a caring father. Heck, you might be just like him yourself. Let me take a moment to share with you the story behind the story:

The accident occurred on a Friday evening in early June. I had just talked with Rajesh earlier that afternoon and he was on top of the world. So many things were going right for him, he joked, it just wasn’t fair for anyone else. He and his wife Smita had been married for 24 years and she had given him three terrific kids. The oldest, Aastha, had announced at Thanks giving that she was engaged and was going to be getting married the following fall. Everyone liked her fiancĂ© and they were already making plans for a lovely wedding with lots of friends and family.

Next in line was his son Rahul who was a senior in high school. Rahul was a well-rounded kid who did well in school and was busy applying to a number of colleges. He hoped to get accepted to an top-class university school and his grades were strong enough that he might just get in.

Finally, there was Aryan who was a sophomore in high school. Aryan was a great cricket player, good enough to play varsity, and was excited as the season was just getting under way. Rajesh had not missed one of Aryan’s games since he was in the sixth grade.

For Rajesh, well he was on a roll too. He had gotten a promotion over the summer that gave him a significant pay raise. Enough for he and Smita to buy a larger home in a nicer part of town.

When I talked to him earlier that afternoon, he was making plans to leave work around 7:00 PM, go home and change, then he and Smita were going to their first party of the holiday season. He was telling me he was looking out of his office window at a light snow falling.

Unbelievably, at approximately 7:52 PM Rajesh Sharma was pronounced dead on the scene. Apparently, according to police reports, he was traveling down the road and hit an icy spot which caused him to loose control of his car and hit the bridge support head-on.

While Rajesh’s death was a great loss to those who knew him, it nearly tore apart his family. You must understand , I loved Rajesh like a brother, but there was one thing that he never did that I hope you take away as a lesson from this story.

Rajesh never finished the application for the life insurance policy I had sent him. I had already filled in everything for him. All he had to do was sign it. Every time I asked him about it, he always put me off by telling me he would get around to it when he had time. He was just to busy, he said.

When Rajesh died at the age of 48, his “estate” consisted of a Rs. 40,00,000 house on which he owed Rs. 32,50,000, some small stock and bond investments, three cars, and Rs. 2,00,000 in debt. .There was no life insurance to act as income replacement for the next 20 years. · There was no life insurance to pay off the mortgage debt, credit cards, or auto loans. · There was no life insurance to pay for the kids college. · There was no life insurance to pay for Aastha’s wedding.

Smita ended up having to sell the house and take a job in order to make ends meet.

The really aggravating thing was that Rajesh was in decent health and could have gotten a Rs. 1,00,00,000, 20-year term life policy for around Rs. 1000 per month. That Rs. 1,00,00,000 would have gone to his family tax-free in a lump sum and would have done a lot of good for his family at a time they needed it most.

Why do I share this story with you? I want you to be aware that the decisions you make (or don’t make) can have a major impact on your loved ones. Whether you buy your life insurance from us or get it from someone else, just do it! Before it’s too late.

Rajesh didn’t plan on dying when he did. Few people ever do. Take responsibility and take action.

Top 5 jobs that need life insurance

Life insurance is an important aspect of everyone’s lives and is something which everyone will have to face at some point in time throughout their lives. This point may come sooner rather than later for some individuals because of the job they perform on a daily basis.

While some individuals start everyday by putting on their suits and racing to get to the coffee shop for their morning coffee,others are strapping on their work boots and preparing themselves for a day of excruciatingly hard labor. As scary as it may sound, there are many individuals who are willing to put their lives in danger every single day when they get up and go to work.

The following is a list of the top 5 jobs which are considered to be the most dangerous jobs in the world. Individuals who perform these jobs are highly recommended to have a life insurance plan in case (god forbid) anything goes wrong on any given day. These are the 5 occupations which made the list:

1. Police/Detectives

Police Officers face life threatening situations almost everyday. They are highly trained to defend themselves and are equipped with protective equipment at all times. Life insurance and disability insurance are crucial for individuals working in the field of policing.

2. Airplane Pilots
Believe it or not, airplane pilots require life insurance because they are dealing with such powerful machines which have been known to have mechanical glitches. Airplane pilots are also highly trained in their field to make sure they do their best to fly safely.

3. Construction Workers
Construction workers are somewhat unappreciated for the amount of hard work they do everyday. They not only put their lives in danger from all the machinery they are expected to operate, but they also face many factors which will affect their health in the long run. Overexposure to sun, heat and excessive lifting are just a few of these factors.

4. Farm Workers
Much like construction workers, farm workers are at high risk of injury or death due to the fact that they are constantly operating heavy machinery. There are hundreds of farm work related deaths a years and thousands of injuries for individuals working in farm fields. Life insurance and disability insurance are important for individuals in this occupation.

5. Fire Fighters
It is a known fact that fire fighters put their lives on the line everyday to save the lives of others. Knowing the potential consequences and performing the job anyways indicates that these workers deserve the highest level of respect from others. Individuals who have chosen careers in fire fighting are also likely to have a life insurance policy.

Is your job dangerous? Is your life on the line everyday? May be not, but there are many other factors other than your occupation which may indicate you need life insurance.
Life insurance is a plan which will ensure your loved ones are taken care of in case anything happens to you. Wouldn’t you like to know your family would be looked after should this type of situation occur?

Useful Links

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Thursday, July 10, 2008

When You Die, What Does A WILL Do?

I know it may sound simple, but there are things a WILL does and certain things it cannot do. Most people don't have a will and don't even want to talk about it since it relates to death. A lot of people don't even have life insurance, either. I had a boss that was speaking to his accountant one time, "If I die-"started my boss, and his accountant said, "There is no "IF", its just "WHEN". We all will die and it would be nice to have a will to help your family decide what to do with your money and belongings.

Why do you need a will? Would you rather probate courts decide the fate of your children? The court decides where the kids are sent for foster care. That should be enough to scare you out of your shoes. The court will also decide what happens to your assets. Yes, all your stuff and money. So you may have money and a nice house, then its all gone and the kids are sent to the state home.

I know, it sounds harsh. So what can a will do for me?

First, a will can indicate where your assets and property go.You can also name a guardian for your children and their property. You can also name an executor to administer the will.This executor can be given powers and compensation for taking care of your estate.

But here's the tricky part - a will can't override anything with a named beneficiary. For example, your life insurance has a beneficiary that was established at the time you wrote the policy. Also, a will can't nullify the terms of a trust you've established.

So what should you do? Inventory your assets that will pass through the will. Like checking accounts, CD's, stocks, bonds,real estate, etc. These are called probate assets. Non probate assets would include things like your life insurance. These items have named beneficiaries.

Make a list of your beneficiaries and decide what you want them to have. If you have children from your current marriage, then the decision would probably be very easy - give the items to your spouse. If you have kids from a previous marriage, plan carefully and list them as well as their relationship so the executor will have no questions and will hopefully limit anyone contesting the will.

I hope this gave you some idea as to why a will is an important planning tool not for you, but for your family. You don't make a will for yourself, as you will be dead, you make one for your survivors.

The Latest Commercial - Vaade

Hi friends,

I would like to share with you the latest commercial from TATA AIG LIFE... Its titled "Vaade", which means "Promises".

And we help you to fulfill your promises. Go ahead and plan your future and live a happy life.

Decide now so that you never fall on your promises

Monday, July 7, 2008

Waiver of Premium Rider Information

Hi friends,

Lets see the information about Waiver of Premium Rider today.

Waiver of Premium Rider is very essential if you are taking a policy for yourself and you are the chief earner in your family. By taking this rider you make sure that in case of your unfortunate death / dismemberment, before the premium payment term ends, the burden of paying doesn't fall on your family members.

Key features are listed below:

  • It provides for the waiver of all future premiums of the basic policy and this supplementary contract which fall due while the insured is disabled (provided that the disability commences before the insured reaches 60 and has continued for atleast 12 months)
  • The basic policy will be kept in force as though premiums waived were paid in cash.

Below is the annual premium rate per 100 rupees of basic premium:

Issue AgeAnnual Premium per Rs.1,000 Sum Assured

So, whenever you go for a insurance policy next time for yourself, don't forget to apply for a Waiver of Premium Rider...

Payor Benefit Rider Information

Hi friends,

Lets see the information about Payor Benefit Rider today.

Payor Benefit Rider is very essential if you are taking a juvenile(children's) policy. By taking this rider you make sure that in case of your unfortunate death / dismemberment, before the premium payment term ends, the burden of paying doesn't fall on your spouse or your child. The company covers the life of insured even if premiums are not paid.

Key features are listed below:

  • When the payor dies or becomes disabled before he/she reaches age 60, and before the juvenile reaches age 21, all the future premiums of the basic policy and this rider will be waived upto maturity of the basic policy or the child reaches age 21 or the payor reaches age 60, whichever is earlier.
  • The basic policy will be kept in force as though premiums waived were paid in cash.

Below is the annual premium rate per 100 rupees of basic premium:

Maximum PB Benefit PeriodPAYOR'S AGE

So, whenever you go for a insurance policy next time for your children, don't forget to apply for a Payor Benefit Rider...

Friday, July 4, 2008

Life Insurance Settlement Demystified

Why Buy Life Insurance? Life insurance is generally offered as part of a benefits package with employment. For the most part, however, these policies are rather small, usually in the one lakh rupees range. People buy life insurance policies so that their families will not have to bear financial burden when a loved one passes on.

There is another reason to buy life insurance, however, and it is the life insurance settlement. Your life insurance policy can be settled for a large sum before the end of your lifetime, though many people are not aware of this. Others buy life insurance specifically with this reasoning in mind.

Purchasing a Life Insurance Policy, though it may sound strange, it’s actually a good idea to buy life insurance while the policyholder is still in good health. Rates are usually cheaper when this is the case, which makes buying a life insurance policy a whole lot easier. Also, rates are less expensive if you buy life insurance while still young. If you’re young and in good health, it’s actually the best time of your life to purchase a life insurance policy – as strange as that may sound.

Don’t be afraid to do your own shopping around to find the best rates, and the best life insurance settlement. Comparison shopping is the way to make sure you get the best life insurance policy, and settlement, possible. Don’t rely on your employer to give you all the life insurance coverage you need. Generally, life insurance policies and settlements offered as part of a benefits package will not have good payoffs.

The Life Insurance Settlement.

There are many reasons that you may want to settle your life insurance policy. Sometimes, a settlement is the best thing you can do for your family. For instance, when the policyholder has reached the age of seventy and there is a need for a new life insurance policy or long-term care, your best option may be a life insurance settlement. A change in health status, tax charge, or when the policy has outlived the beneficiaries may all be reasons to consider a life insurance settlement, as well.

A large factor in the life insurance settlement is the need for liquidation of assets. This may be due to bankruptcy or other financial reasons, or simply that the policy holder would like to acquire the settlement early. Your reasons for settling your policy are your own, and if you feel the need for a settlement then you should pursue one.

Be sure to discuss your settlement options with your insurance company. If needed, have a new policy in place before going forward with your settlement. There is no reason you cannot have two or more life insurance policies at the same time.

A life insurance settlement can allows you to enjoy some of the benefits of your policy, and be a good source of income when long-term care or extra income is needed. Be sure to discuss the exact amount that you will receive from your settlement with your insurance company, and find out the payment scale and time frame for receiving your settlement. When you agree on a settlement, the paperwork that you sign should include all of this information. Be sure to look over any paperwork very carefully before signing, because you can never be too careful with insurance companies.

Wednesday, July 2, 2008

Let the child play, Assure Career Builder will worry about the career

Hi friends,

Let's talk about the policy which takes care of your children's career requirements.

Tata AIG Life's Assure Career Builder is a juvenile insurance product designed to provide your children with the financial support they’ll need at important junctures in their life.

Key features include:

  • Lump sum payments at various stages of your child’s life: 20% of sum assured on your child’s 18th birthday, 20% on his/her 21st birthday, 20% on his/her 24th birthday and the remaining 40% when the policy matures on your child’s 27th birthday.
  • Lump sum payments at various stages of your child’s life: 20% of sum assured on your child’s 18th birthday, 20% on his/her 21st birthday, 20% on his/her 24th birthday and the remaining 40% when the policy matures on your child’s 27th birthday.
  • Periodic payments against the policy do not affect the full payment of the sum assured in case of the insured’s death.
  • A guaranteed addition of 10% of the sum assured to be paid at the time of maturity or death (policy must be in force for a minimum 10 years).
  • A compound reversionary bonus, as declared by the Company, is credited to the policy on the policy anniversary.
  • A terminal bonus payable on death or maturity (policy must be in force for a minimum 10 years).
Tax Benefits, Riders and Age Eligibility
  • Compound reversionary bonus and terminal bonus are non-guaranteed and depend on the performance of the Company.
  • Assure Career Builder is supported by a money-back guarantee. If you change your mind, simply return the policy document within 15 days of receipt and your premiums will be refunded (minus a nominal deduction to cover administrative charges).
  • Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.
  • You can attach the Payor Benefit Rider at a nominal extra cost, which waives all future payments for this policy in the event of your unfortunate death or disability.
  • Minimum entry age is 0 years, with a maximum of 15 years. The policy matures at age 27.
Please have a look at Sample Benefit Illustration below:
Illustration for Assure Career Builder
Sum Assured Rs. 2,00,000
AgeAnnual PremiumGuaranteed BenefitsNon Guaranteed BenefitsTotal Benefits at Maturity
Sum AssuredGuaranteed AdditionsAccumulated CouponsHigher RateLower RateHigher RateLower Rate

Basic Premium Information

Issue AgePremium rate per Rs.1,000 Sum Assured

Large Size Discount

Face AmountDeduction in Gross premium rates per Rs.1000 Sum Assured
25,000 to 99,9990
100,000 to 149,9991.5
150,000 to 199,9993
200,000 & above4

You can download the product brochure by clicking here.

So, now onwards, when your children(s) is/are playing, let them play. And ask yourself to assure their career with Assure Career Builder.