AEGON Religare Educare Plan offers a choice between three policy terms of 12, 16 or 20 years with a premium payment term of 8, 12 or 16 years respectively
AEGON Religare Life Insurance has announced the launch of its AEGON Religare Educare Plan. This plan meant for higher education provides customers a secure savings platform with an insurance cover along with a waiver of premium option. The plan gives lump sum payouts during the last four policy years.
On the launch of AEGON Religare Educare Plan, Yateesh Srivastava, chief marketing officer of AEGON Religare said, “On a daily basis we are seeing the cost of higher education increasing. To ensure that the parents of tomorrow are well-equipped to meet the needs and aspirations of their children, it is important to plan to save in a disciplined manner from today. Also higher education costs are not a one-time but a recurring payment, which is why we have designed the AEGON Religare Educare Plan with lump sum payouts over four years.”
Mr Srivastava added, “We are constantly researching the market to spot customer-centric product opportunities. With the times being uncertain, we felt a strong customer need for a child plan offering an opportunity for disciplined savings, providing a good life cover and guaranteed benefits on maturity.
However, the truly unique part of this plan is the annual lump sum payout geared to meeting the annual expenses of a higher education. Also, the fact that this plan has a waiver of premium option in-built makes it a very attractive package for the customer.”
The AEGON Religare Educare Plan offers the following benefits:
1. It provides guaranteed payouts during the last four years of the policy.
2. In case of death, it offers two benefits to choose from: The first option offers sum assured and accrued bonus on death and guaranteed payouts during the last four policy years. The second option offers sum assured and accrued bonus on the death, guaranteed payouts during the last four years of the policy, and 10% of the sum assured, every year, till the end of the premium payment term.
3. It offers bonus which forms a part of the guaranteed benefits and it is paid in case of maturity or death.
4. On maturity of the policy, it provides 20% of the sum assured, which is the last installment of the guaranteed payout, along with the accrued bonus.
AEGON Religare Educare Plan offers a choice between three policy terms of 12, 16 or 20 years with a premium payment term of 8, 12 or 16 years respectively. The minimum entry age is 20 years and the maximum age of entry is 63, 59 or 55 years, depending on the tenure of the policy. The maximum age at maturity is 75 years and minimum sum assured is Rs 1,00,000.
For purchasing the plan, one has to choose from two types of benefit payout options in case of death, choose the policy term and premium payment term and finally choose the amount of insurance cover or the sum assured. Depending on these factors, the annual premium is defined which can be paid annually, semi-annually or monthly.
Moneylife Foundation continues its successful series of seminars on financial literacy. The 101st workshop on ‘How to be Safe and Smart with your Money’ informed participants to avoid schemes that deceive investors and how to invest money in a manner that would give maximum returns
Moneylife Foundation conducted yet another successful, informative and highly interactive seminar on ‘How to be Safe and Smart with your Money’ on Tuesday (10 January 2012). The event, which again witnessed a packed audience, was held at the Moneylife Knowledge Centre.
Sucheta Dalal, managing editor of Moneylife, advised the audience to stay away from schemes that promise extraordinary returns. There are various chain marketing schemes which operate at every level in the country and cheat even the poorest of people. Ms Dalal warned that companies like Amway, Tupperware, Herbalife are also examples of pyramid schemes. According to research, less than half the people are able to sell and make money and end up blaming themselves and not the company.
Ms Dalal cautioned the participants to stay away from plantation schemes, art funds and realty companies offering high returns on deposits. Any scheme offering 3% mare than deposit rate should be scrutinised. She also spoke about the various internet scams that are usually after your money or your identity.
Ms Dalal also emphasised on how one should not lose money to banks. Relationship managers usually work only to earn themselves fat commissions from your investments. Thus most “relationship managers” resort to mis-selling or hard selling a product. In order to be safe one should have all communication documented. Ms Dalal also touched up on area related to credit cards, insurance and credit scores.
Debashis Basu, editor, Moneylife, spelt out the various ways in which one can be smart with money—and presented to the audience the best ways in which one can invest safely. The participants were taken through a four-stage process to investing. Unlike durables there are much more intricacies in a financial product that one needs to pay attention to.
Mr Basu also touched upon five key planning concepts by which investors can plan their investments. Examples were shown on how one could use the power of compounding to their benefit. Inflation is the permanent risk and is difficult for one to avoid. The only way to overcome inflation is by smart investing. One should also understand the risk in various asset classes. The risk involved in various asset classes was explained and how much returns these assets are expected to generate was informed to the participants. How a mix of these assets could be used for different investment horizons to keep you money safe was also discussed.
This seminar on ‘How to be Safe and Smart with your Money’ has been conducted by Moneylife Foundation in various locations across the country. If you have not become a member of the Foundation yet, please visit www.mlfoundation.in for more details. Membership is free of cost, and Moneylife Foundation members also get access to such informative seminars and can utilise the state-of-the-art facilities at the Moneylife Knowledge Centre.
The Mumbai region, which contributes over a third of the overall direct tax collection, has been targeting a 33% increase in income tax collections at Rs2.04 lakh crore for the fiscal, but has achieved a meagre 4% jump in advance tax collections
MumbaiNew Delhi: Amid fears of slippage in revenue, finance minister Pranab Mukherjee has asked taxmen of the Mumbai region, which accounts for one-third of direct taxes mop-up, to pull up their socks to achieve collection target, reports PTI.
The finance minister “exhorted the tax officers to put their best foot forward to achieve the Budget collection target fixed for the Mumbai region,” Income Tax department said in a statement on Tuesday.
The Mumbai region contributes over a third of the overall direct tax collection. It has been targeting a 33% increase in income tax collections at Rs2.04 lakh crore for the fiscal, but has achieved a meagre 4% jump in advance tax collections. In the direct tax segment, advance tax contributes the most.
After taking stock of revenue collection of Mumbai region over the weekend, Mr Mukherjee on Tuesday held a similar meeting of taxmen of North Zone in New Delhi and also asked them to step up the tax collection exercise.
The meeting was also attended by chiefs of Central Board of Direct Taxes and Central Board of Excise and Customs.
Earlier, the finance minister had had meetings with tax officials of East and West zones.
At the Mumbai meeting, finance secretary RS Gujral had said that present times are “very critical” as a “steep decline” in gross domestic product (GDP) growth is resulting in a dip in the levy collections.
He said companies in the banking, finance and insurance sector, which account for half of the collections in the Mumbai region, are facing difficult time and the region will have to depend on sectors like software, pharma, FMCG and infrastructure, which are showing healthy increase, to achieve the target.