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Discussion in 'Money Matters' started by charmingpooh, May 26, 2009.

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Jun 13, 2010 #41

orion80 Platinum IL'ite

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Insurance query

Hi Shaishav,

I have taken a term insurance plan and during the discussions one of the company's manager told me that 50laks is the maximum insurance one can take from different companies. But if i take the same from a single company, the insurance limit will be determined by my eligibility.

Is this true? Please clarify.

Thanks in advance,
Lakshmi

orion80, Jun 13, 2010

orion80, Jun 13, 2010

#41
Jun 13, 2010 #42

shaishav Silver IL'ite

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sansmomy said: ↑

Hey,
Thanks for your reply! Do you want to say that the exemption (on this additional 20,000/- investment) is still not confirmed :idea This was officially notified to us via our company's payroll department....so, i was considering this as an authentic information...

BTW, what is infrastructure bond? Any idea?

~S.
Click to expand...

<link rel="File-List" href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml"><link rel="themeData" href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx"><link rel="colorSchemeMapping" href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml"><style>  </style> Hi ~S,

This was not clear till sometime back but now that your company’s payroll department has communicated my doubt is also clear.

Infrastructure bonds are sold by government and the money received is invested in improving the country’s infrastructure.

Regards,

Shaishav

shaishav, Jun 13, 2010

shaishav, Jun 13, 2010

#42
Jun 13, 2010 #43

shaishav Silver IL'ite

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Ooviya said: ↑

Hi,

my brother is 26 yrs old. he is working in Journalism field.he is not yet put money in insurance and any investments. i told him insu. is must. he can save money rs.3000 pm. is any insur. cum invest. policy is avail. for tat amt???

What can he do in next reg insu . and any savings???? pls advice me......
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<link rel="File-List" href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml"><link rel="themeData" href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx"><link rel="colorSchemeMapping" href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml"><style>  </style> Hi Ooviya,

If your brother can save 3000 per month i.e. 36000 annually ask him to buy a term insurance plan only if he has any dependents. If he has any dependents then he can buy a term plan and the premium should not be more than 5000 annually. The remaining 31000 i.e. 2500 per month he can invest in a diversified equity mutual fund like HDFC Top 200, HDFC Equity, DSPBR Equity etc.

Regards,

Shaishav

shaishav, Jun 13, 2010

shaishav, Jun 13, 2010

#43
Jun 13, 2010 #44

shaishav Silver IL'ite

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Re: Insurance query

orion80 said: ↑

Hi Shaishav,

I have taken a term insurance plan and during the discussions one of the company's manager told me that 50laks is the maximum insurance one can take from different companies. But if i take the same from a single company, the insurance limit will be determined by my eligibility.

Is this true? Please clarify.

Thanks in advance,
Lakshmi
Click to expand...

<link rel="File-List" href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml"><link rel="themeData" href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx"><link rel="colorSchemeMapping" href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml"><style>  </style> Hi Lakshmi,

I would like to know if you have already bought the policy. Which insurance company? What is the Premium? What is the term? What is life cover?

The information the companies manager has given you is incorrect. The normal practice is that you can take a cover up to 20 times of your annual income i.e. if you earn 5 Lakh per annum the cover you can apply for is 1 Crore. Once your application reaches the underwriter he decides the cover that the company can give you based on your earning potential, health, certain habits like smoking and alcohol etc.

You also have to declare any other insurance policy you hold from other insurance companies.

Regards,

Shaishav

shaishav, Jun 13, 2010

shaishav, Jun 13, 2010

#44
Jun 13, 2010 #45

Ooviya Platinum IL'ite

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Thank u so much... Term plan for how many yrs , he will pay 5000 p.a???? do u know gud financial adviser in chennai reg. mutual invest???

Ooviya, Jun 13, 2010

Ooviya, Jun 13, 2010

#45
Jun 13, 2010 #46

Ooviya Platinum IL'ite

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Hi,

i am not asking financial adviser. Bcz u r guiding me very well. thank a lot.... I am asking, contact person for make investments in chennai.

Ooviya, Jun 13, 2010

Ooviya, Jun 13, 2010

#46
Jun 13, 2010 #47

orion80 Platinum IL'ite

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Re: Insurance query

Hi Shaishav,

Thanks for the clarification. That insurance manager told me i can go for as much cover as i want in a single company but if i have insurance policies in multiple companies then 50laks will be the limit. Didnt sound right.

But he told me that it was as per IRDA rules and not specific only to his company. So that made me worry that i might not be able to increase my insurance cover in future.

I have already purchased the term insurance policy for the pre-determined amount and cover of 30 years. I cannot disclose the policy details in a public forum. I can send you a private message. Sorry about that.

-Lakshmi

shaishav said: ↑

<LINK rel=File-List href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml"><LINK rel=themeData href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx"><LINK rel=colorSchemeMapping href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml"><STYLE>  </STYLE> Hi Lakshmi,

I would like to know if you have already bought the policy. Which insurance company? What is the Premium? What is the term? What is life cover?

The information the companies manager has given you is incorrect. The normal practice is that you can take a cover up to 20 times of your annual income i.e. if you earn 5 Lakh per annum the cover you can apply for is 1 Crore. Once your application reaches the underwriter he decides the cover that the company can give you based on your earning potential, health, certain habits like smoking and alcohol etc.

You also have to declare any other insurance policy you hold from other insurance companies.

Regards,

Shaishav
Click to expand...

orion80, Jun 13, 2010

orion80, Jun 13, 2010

#47
Jun 14, 2010 #48

sansmomy Bronze IL'ite

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shaishav said: ↑

<LINK href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml" rel=File-List><LINK href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx" rel=themeData><LINK href="file:///C:%5CDOCUME%7E1%5CADMINI%7E1%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml" rel=colorSchemeMapping><STYLE>  </STYLE> Hi ~S,

Infrastructure bonds are sold by government and the money received is invested in improving the country’s infrastructure.
Click to expand...

Thanks a lot Shaishav! In my previous organization, i had a group of frens within which we used to have detailed chats/advice etc on investments and used to help each other out. In the new company however, i lack such group (with good knowledge of finance)....so, i had nobody to share/reach out for these matters....But with you here handling all queries sooo perfectly, I am feeling much better....thanks for being there!

~S.

sansmomy, Jun 14, 2010

sansmomy, Jun 14, 2010

#48
Jun 15, 2010 #49

Ooviya Platinum IL'ite

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HI Shaishav,

Pls suggest me.I have interest in Share market and Insurance. I want to become a gud investment planner. Already i was completed in Post graduation in Commerce and completed one module in NCFM reg.share mkt. But i don't know anything about insurance and share mkt.

Few mth back i was read opportunities in Insurance. Now i am house wife. I want to use my time in usefully. so pls suggest me,

what can i do in next???? any courses or institution reg. that in chennai????

I am eagerly waiting ur reply!!!

Ooviya, Jun 15, 2010

Ooviya, Jun 15, 2010

#49
Jun 17, 2010 #50

shaishav Silver IL'ite

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sansmomy said: ↑

Thanks a lot Shaishav! In my previous organization, i had a group of frens within which we used to have detailed chats/advice etc on investments and used to help each other out. In the new company however, i lack such group (with good knowledge of finance)....so, i had nobody to share/reach out for these matters....But with you here handling all queries sooo perfectly, I am feeling much better....thanks for being there!

~S.
Click to expand...

Hi ~S,

I am just a post away

Shaishav

shaishav, Jun 17, 2010

shaishav, Jun 17, 2010

#50

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