Axis Constant Maturity 10 Year Fund - new fund offer closes 24 January 2012.
Axis Mutual Fund has launched Axis Constant Maturity 10 Year Fund, an open-ended gilt scheme.
The objective of the scheme is to generate returns similar to that of 10 year government bonds.
The minimum investment amount is Rs5000. The new fund offer closes 24 January 2012.
Crisil 10-year Gilt Index is the benchmark for the scheme. R Sivakumar is the fund manager for the scheme.
Commercial vehicles denied insurance cover will come under the declined pool, where liabilities will be shared by all general insurance companies.
Insurance regulator IRDA today set up a 5-member committee to oversee the functioning of a pool proposed for third party insurance of commercial vehicles, which have been declined cover due to their high risk profile. Commercial vehicles denied insurance cover will come under the declined pool, where liabilities will be shared by all general insurance companies.
While dismantling the common pool used by insurers to settle accident claims, the regulator had said that an Indian Third Party Motor Declined Risk Insurance Pool for commercial vehicles will come in existence from April 1. The declined risk pool for commercial vehicles is being created to ensure equitable and fair sharing by all insurers and also to bring in efficiency in claim management.
IRDA's Head of Department (non-life) is the Member Convenor of the committee. Other members are Head of Department (Actuarial), Representative from Pool Administrator, Anurag Rastogi (from Bajaj Allianz General Insurance) and I Victor Amaldas (New India Assurance). The committee will have a term of two years. The pool will apply to commercial vehicles for standalone third party liability insurance and not for other insurance claims.
Third-party insurance cover protects the vehicle owner from any financial liability in case of damage to life or property in an accident to the third person.
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.