L&T Mutual Fund’s new issue closes on 10th February
L&T Mutual Fund has launched L&T FMP-III (February90D A), a close-ended income scheme.
The investment objective of the scheme would be to achieve growth of capital through investments made in a basket of debt/fixed income securities maturing on or before the maturity of the scheme.
The new issue opens on 9th February and closes on 10th February. The minimum investment amount is Rs5,000.
Kotak Mahindra Mutual Fund’s new issue closes on 14th February
Kotak Mahindra Mutual Fund has launched Kotak FMP Series 35 (370 Days), a close-ended income scheme.
The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The scheme will invest in debt and money market securities, maturing on or before maturity of the scheme.
The new issue opens on 9th February and closes on 14th February. The minimum investment amount is Rs5,000.
DLF Pramerica Life Insurance introduces two protection plans that ensure a child’s uninterrupted school education
DLF Pramerica Life Insurance (DPLI) has introduced 'Shiksha Uday'-a school education protection initiative. Shiksha Uday has been specially designed to help ensure uninterrupted school education for a child in case of untimely death of the bread-winner in the family.
As a part of this initiative, DPLI is partnering with schools to make two simple and affordable term protection plans-DLF Pramerica Fee Protect and DLF Pramerica Fee Protect+-easily accessible to parents during a child's admission into the school, or during other parent-school interactions.
Fee Protect and Fee Protect+ are insurance plans that protect the child's school fees during the term of the plan. The monthly premium is as low as Rs225. Parents have the flexibility to choose the benefit amount they wish to protect. In case of death, this benefit is paid out monthly.
While Fee Protect is a basic plan, Fee Protect+ additionally offers a savings benefit. It has a return of premium (RoP) feature built into the plan that entitles the parent to receive 80% of the premium paid (in case of survival) or payable (in case of death) throughout the policy term. The amount returned at the end of the policy tenure can be utilised as a starter kit for a child's college education.
Both these plans have a 5% inflation feature built in every year that closely mirrors the expected annual increase in school fees. Additionally, in the case of Fee Protect+, the RoP feature acts as a starter fund for the child's college education, in addition to covering school fees.
DPLI is a joint venture between DLF Ltd, a real-estate company in India and Prudential International Insurance Holdings Ltd a fully owned subsidiary of Prudential Financial, Inc a financial services leader headquartered in the US.