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What is Deductible? The total amount that will be deducted from the claim amount in a policy year. Coverage will start once single / multiple claim amounts add up to the deductible amount in that year. For ex. If 50,000/- is the deductible in the policy, then total claim amount up to 50,000/- will not be payable in that year. Advantage of Deductible? Premium will be almost 30-45% lesser.    Illustration:   Let’s say a family of Husband (aged 42), wife & 2 children opts for 10 lakhs policy with 50,000/- as deductible. Annual Premium without deductible: 29,319/-  Annual premium with deductible: 16,126/-  Annual Savings in premium: 13,193/- Illustration for Claim (s) in a year with deductible: 1 st Claim: 50,000/- Not Paid as the amount is within deductible limit. Balance Sum Insured: 10 lakhs. 2 nd claim: 1 lakh Paid as the deductible is already over. Balance Sum Insured: 9 lakhs. 3 rd Claim: 40,000/- Paid as the deductible is alre...

Read this whenever you are confused about Stock Market (Mutual Funds) and u will get answers: 1) 80% of Gains come in 20% of time . So one needs enormous patience & conviction to hold Mutual funds for 10+ years. 2)  Why not all investors get rich? They like to get rich without going through many years of Discipline & Patience. They want quick money / returns – not compounded wealth! 3) A worst fund you can stick with is likely to produce better results than a best fund you cannot stick with & continue. 4)  Understand Compounding ; After 10+ years, money makes more money. So stick with investing without withdrawing for at 10+ years. 5) 99% of the time, doing nothing is the best thing to do in the market. Activity hurts. 6)  You cannot predict or control markets & returns. What you can control is how much you invest, investment process and behavior. Focus only on that. 7)  Don’t chase high returns – Don't look for 5-star rated funds ; th...

  Eligibility - Based on the plan, premium & no. of years elapsed Rate of Interest - 9.50%  p.a. Process - Original policy bond + Loan application form to be submitted. Loan amount credited to the given bank in 7-10 working days. Processing Fees: NIL Effect of Loan: No change / effect will be on policy features due to loan Repayment mode - Interest is to be paid once in 6 months online. (This is not EMI where the repayment amount has Interest + principal component in it) Principal Repayment : Can be done anytime & any no. of times exceeding Rs.500 & accordingly interest will be calculated on the balance principal. Due Date of Interest payment : Once in 6 months coinciding with the policy’s date of commencement. Broken period / Interest : The period from date of loan to next loan due date. Broken period Interest is calculated for this period on pro-rata basis & actual interest is charged from next cycle. Closure before 6 months : Loan can be ...