Secure Income plan is available for customers in the age group of 0 to 60 years and for terms ranging from 15 to 65 years
Future Generali India Life Insurance Company has launched Secure Income Plan—a mix of traditional endowment with annual income benefits.
Secure Income plan is available for customers in the age group of 0 to 60 years and for terms ranging from 15 to 65 years. On completion of the premium payment period, accrued compounded reversionary bonuses are paid.
After the chosen premium payment period, every year 5.5% of sum assured is paid as guaranteed annual cash back in addition to cash bonus till the end of the policy term. On maturity, the policyholder would receive the sum assured plus the terminal bonus. The plan could be purchased from a low ticket size of Rs10,000 onwards.
According to the company another five new products were planned this year and it was awaiting clearance from the regulatory authorities.
The survey also found that the use of cards for shopping was more among the youth
According to a survey conducted by the Reserve Bank of India (RBI), women they use their debit cards less frequently. Women prefer to use credit cards for shopping to avail themselves of the 45-day credit period. However, when there is a need of hard cash to meet day to day needs, it is men who swipe their debit cards at ATMs.
The survey also found that the use of cards for shopping was more among the youth; the use of debit cards for shopping was the highest in Maharashtra and Andhra Pradesh. Further, debit cards were mainly used for withdrawing cash or shopping purposes and the use of these cards for bills payment/ticket purchase was still low. The survey covered 600 ATMs distributed proportionately over metro, urban, semi-urban and rural regions, constituting 1% of the total number of 60,000 ATMs in the country.
MOSt 10 Year Gilt Fund is an open ended fund structure with two plans: dividend & growth
Motilal Oswal Asset Management Company Ltd has launched Motilal Oswal MOSt 10 Year Gilt Fund, an open ended gilt scheme. MOSt 10 Year Gilt Fund is India’s first fund to open access to the 10 year G-sec for retail investors by investing 90%-100% of the corpus in 10 year G-secs only.
MOSt 10 Year Gilt Fund proposes to invest in the 10 year benchmark G-sec (currently 8.79% 2021 G-sec) with no discretion with fund manager on maturity, and (2) Emulate the risk and returns on the 10 year benchmark G-sec.
MOSt 10 Year Gilt Fund will primarily invest in 10 year benchmark government security: 90%-100%; other government securities (7 to 12 years), T-bills, cash management bills, CBLO and repo: 0-10%. The fund would also invest maximum amount in the 10 year benchmark G-sec as it is highly liquid paper in the entire G-sec market. It also helps to align the performance of the fund with the 10 year benchmark G-sec.
MOSt 10 Year Gilt Fund, is an open ended fund structure with two plans: dividend & growth. The new fund offer (NFO) will be open for subscription from 21st November 2011 to 5th December 2011. The minimum subscription amount is Rs10,000 and additional investment of Rs1,000. The total expense ratio is 0.99% (proposed). The fund manager of the scheme is Abhiroop Mukherjee.