टैक्स बेनेफिट्स

Income Tax Provisions for the Financial Year ending 31st March 2009 and Tax Benefits from लाइफ इंश्योरेंस.

(A) Income Tax Rates for FY 2008-09:


I) For any individual other than referred to in Item no II and III below.

Total Income Range	Tax Rates	Surcharge	Education Cess (% of I.T)	Secondary and Higher Education Cess
Upto Rs.1,50,000/-	Nil	Nil	Nil	Nil
Rs.1,50,001- Rs. 3,00,000	10% of the amount by which the total Income exceeds Rs.1,50,000	Nil	2%	1%
Rs.3,00,001- Rs. 5,00,000	Rs.15,000 + 20%of amount by which the total Income exceeds Rs.3,00,000	Nil	2%	1%
Above Rs. 5,00,000	Rs.55,000 + 30% of amount by which the total Income exceeds Rs.5,00,000	Nil	2%	1%

(II) In case of resident women below 65 years of age.

Total Income Range	Tax Rates	Surcharge	Education Cess (% of I.T)	Secondary and Higher Education Cess
Upto Rs.1,80,000/-	Nil	Nil	Nil	Nil
Rs.1,80,001- Rs. 3,00,000	10% of the amount by which the total Income exceeds Rs. Rs.1,80,000	Nil	2%	1%
Rs.3,00,001- Rs. 5,00,000	Rs.12,000 + 20% of amount by which the total Income exceeds Rs.3,00,000	Nil	2%	1%
Above Rs. 5,00,000	Rs.52,000 +30% of amount by which the total Income exceeds Rs.5,00,000	Nil	2%	1%

(III) In case of Senior citizens (above 65 years of age)

Total Income Range	Tax Rates	Surcharge	Education Cess (% of I.T)	Secondary and Higher Education Cess
Upto Rs.2,25,000/-	Nil	Nil	Nil	Nil
Rs.2,25,001- Rs. 3,00,000	10% of the amount by which the total Income exceeds Rs. Rs.2,25,000	Nil	2%	1%
Rs.3,00,001- Rs. 5,00,000	Rs.7,500 +20% of amount by which the total Income exceeds Rs.3,00,000	Nil	2%	1%
Above Rs. 5,00,000	Rs.47,500 +30% of amount by which the total Income exceeds Rs.5,00,000	Nil	2%	1%

Surcharge on Income-tax :
Will be levied at the rate of 10% where the taxable income exceeds Rs. 10 Lakh.

Education Cess:
Will be levied at the rate of two percent on the amount of Income tax and surcharge (if any).

Secondary and Higher Education Cess :
An additional surcharge, called the “Secondary and Higher Education Cess at the rate of one percent of income-tax and surcharge (not including the “ Education Cess on Income-tax”) shall be levied in all cases.

(B) Tax Benefits available for various Life Insurance plans.

The aggregate amount of deduction under all the relevant sections viz. section 80C, section 80CCC and section 80CCD shall not, exceed
Rs.1 Lakh..

1) Deduction from Income for payment of Premium (Sec. 80C).

(a) Life Insurance premia:
The insurance premia paid for a policy is eligible for deduction. The premium paid should not be in excess of 20% of capital sum assured.

(b) Contribution to Deferred Annuity Plans :
The premia paid for a Deferred Annuity , provided such contract does not contain a provision to exercise an option by the insured to received a cash payment in lieu of the payment of annuity is eligible for deduction.

(c) Contribution to Pension/Annuity Plans :
Contribution to New Jeevan Dhara-I and New Jeevan Akshay-V Schemes of LIC are qualified for rebate under this section.

2) Income tax exemption on Maturity/Death Claims proceeds under Section 10(10D)

All the benefits payable under a Life Insurance policy are tax free. However in cases the premium paid in excess of 20% of the capital sum assured within a year, benefits paid excess of premiums will be taxable. The benefits from a key man Insurance policy and any sum received under Sec 80DD, Sub-section (3) are also taxable.

3) Jeevan Nidhi Plan & New Jeevan Suraksha - I Plan (U/s. 80CCC)
Amounts paid from the taxable income to premiums of the above annuity are deductible.

4) Deduction under section 80D
Medical Premium paid for a Health Insurance policy is deductible to the extent of Rs. 15000 for an assessee and/or his family members’ policiy/s. A separate exemption to the extent of Rs. 15,000 for premiums paid for an assessee’s parents is also available. If any one or both of the parents are Senior citizens, then an enhanced exemption limit of Rs. 20,000 is available.
Section 80D also covers payment of premium exclusively for Critical Illness Rider.

5) Jeevan Aadhar Plan (Sec.80DD)

Premium paid for LIC’s Jeevan Aadhar Plan (for the maintenance of an handicapped dependent) is eligible for deduction from the total income to the extent of Rs.50,000 and to the extent of Rs.75,000/- where handicapped dependent is suffering from specified severe disability.

6) Exemption in respect of commutation of pension under Jeevan
Suraksha & Jeevan Nidhi Plans. (Section 10(10A):

A payment received by way of commutation of pension from Jeevan Suraksha & Jeevan Nidhi Annuity plans is exempt from tax

Jeevan Saral by Lic of India

Jeevan Saral by Lic of India call us on 9869121124 for New policy, Save Tax

Benefit of LIC Scheme:

• LIC Monthly Recurring type Scheme
  
• This is like a Post office or Recurring Deposit Scheme. You can deposit Yearly, Hly, Quarterly or Monthly (ECS) in LIC scheme
  
• Maturity received in LIC scheme is Tax Free under section 10-10d of income Tax act.
  
• You can withdraw partial of full amount if necessary after 10 years.
  
• The amount deposited in LIC is exempted under section 80c of income Tax act.
  
• You can continue LIC scheme after 10 years.
  
• In case of death 250 times monthly premium + Total Premium paid - (1st years premium & Extra premium paid ) + LA if any payable.
  
• If you forget to take maturity at the end of 10 years, You can get return beyond 10 years in LIC scheme. This is not available in Post office scheme.

LIC v/s Monthly Recurring Scheme

Maturity at the end of 10 years in Monthly Scheme

PREMIUM	LIC Jeevan Saral	POST OFFICE	LIC GAIN
500	106452 + Free insurance	89010 - income Tax	17442
1000	212904 + Free insurance	178021 - income Tax	34883
1500	319356 + Free insurance	267031 - income Tax	52325
2000	425808 + Free insurance	356042 - income Tax	69766
2500	532260 + Free insurance	445052 _ income Tax	87208
3000	638712 + Free insurance	534063 - income Tax	104649
3500	745164 + Free insurance	623073 - income Tax	122091
4000	851616 + Free insurance	712084 - income Tax	139532
5000	1064520 + Free insurance	890105 - income Tax	174415

UNIT LINKED INSURANCE PLANS - ULIP POLICY

All of us have goals in life for ourselves and our family. Children’s education, retirement planning and long term asset creation are some of the chief goals that most individuals harbor.

The objective of financial planning is to ensure that one is able to create enough wealth to achieve their goals. However, it is important to note that financial investments tend to be affected by external factors that change with time. However, one’s goals are fixed and cannot be allowed to be subject to any external factor.

How then does one invest in a manner which insulates long-term goals from external factors such as market volatility? Are there investment options available that allow you to create wealth in the long-term without having to worry about market vagaries?

ULIPs provide you the answer to these very questions. Unit Linked Insurance Plans have rapidly gained popularity because they offer the investor the dual benefit of insurance protection & long-term wealth creation for specific goals.

AboutULIPs has been designed to provide you with comprehensive information about ULIPs in a manner that is easy to understand. Read on to see how you can enjoy the benefits of ULIPs in an informed and empowered manner.

Investing in stocks? Don’t make this mistake

A common mistake that most investors make while investing in the stock markets is getting carried away. And it happens in many situations � entering too late, exiting too early, looking at numbers every day and the worst, calculating losses on a day-to-day basis.

Most investors tend to forget that though the basic idea is to make money, like everything else, it is not an easy job. Good times will be interspersed with bad times. And sometime, the latter may go on for a long time.

What is more interesting is the way these numbers are calculated. Often it is noticed that they go completely wrong when calculating the numbers because of the method being used. So, in reality, the situation might be quite different. Here are a few lessons:

Lesson 1: Never take any number at face value. An investment that has gained 25 per cent or lost 50 per cent may not be the right way of looking at it. There is a need to ask questions. For instance, over what time period, what is the base from which this has been calculated and so on.

Many investors end up making the wrong assumption and the end result obviously is completely wrong. Another thing that should never be done is to add or subtract the various returns and then arrive at the net financial situation. This can also turn out to be quite misleading.

Lesson 2: When there is a fall in the price of a share, investors start feeling jittery. The bigger the fall, the more nervousness it creates. While this means a potential loss of profits, often the situation could actually be much worse, or there could even be gains than anticipated. Anyone who knows the implication of the figures and the base involved will be able to spot the danger at an early stage.

Let us take an example. Say, an investor purchases a share quoting at Rs 25. Assume that there is a major bull run, whereby the share rises by 300 per cent. This means that the share price has become four times the initial value. That is, the share price is now Rs 100. Now, if there is a fall in the share price by 50 per cent, the investor will then find that he has lost 200 per cent from the gains made. But he is still in profits. And a good 100 per cent as well.

This is precisely what happens in most cases where some sharp corrections may not actually wipe out the entire gains. Even if the share price falls by 75 per cent, the price comes back to the original cost.

In this case, the calculations are based on the initial purchase price of Rs 25. Of course, if the investor had entered at Rs 100, he would then be sitting on significant losses.

Lesson 3: Similarly, when shares rebound, investors often find that the rise is not helping their numbers at all. That is, the quantum of loss continues to be in spite of the turnaround in the fortunes. The acquisition price just seems so far away that it might be years before this is reached again. This is the kind of situation that will be witnessed over the next several months by various investors as they come face-to-face with the losses that have actually incurred.

Consider this example. Say, the acquisition price of a stock is Rs 1,000. The market then falls and there is an 80 per cent drop in the price to Rs 200. From this level, even a similar 80 per cent rise in the price of the share will take the share price only to Rs 360 (Rs 200 base).

In fact, it would require a return of 400 per cent on the reduced price to come back just to the previous cost. In this case, the reason for such a situation is that the base for the fall is larger at Rs 1,000, while the base for the gain is smaller at Rs 200 and this leads to a larger overall loss as far as the ndividual investor is concerned.

In other words, look at numbers carefully. Sometimes, a 50 per cent fall could mean a gain, whereas in other times, even an 80 per cent rise could mean a loss.

52 Reason Why you should buy Life Insurance from Lic of India

Before Buying Life Insurance from Other Private companies in India Please read the following:

Positions:

1. Largest insurance Company in the world in Customer Base (23 crore customers)
2. No.1 insurance company in the world in terms of agency (about 1.1 Million agents)
3. LIC is No.1 insurer in the world in Volume & Sold around 3.75 Cr.Policies in 2007-2008.
4. 2nd Biggest Real Estate Owner next to Indian Railways.
5. LIC is one of the Highest income tax playing Organization. For Financial Year 2007-08, LIC has paid advance Tax Rs.2627. 14 Cr. & Service Tax Rs.1292. 15 Cr.
6. Has Highest insurance Professionals ( Club Member agents )
7. Only 4 countries in the world have more population that LIC`s policy holders.

   Award - Recognition

8. Adjudged “The most trusted service Brand” in India, by “Economic Times and AC NEILSEN ORG MARG” for the year 2007 for the 5th consecutive year.
9. “Golden Peacock” award for Excellence in “corporate Governance”
10. LIC adjudged as “Best life insurance Company of the year” at the “2nd”NDTV Profit Business Leadership Awards-2007.
11. LIC adjudged the “Most Preferred Life insurance Company of the year” at the “CNBC AWAAZ” consumer award 2007 for 3rd time in succession.
12. Awarded Reader Digest’s “Trusted Brand”2006,2007&2008 (Voted by Consumers)
13. “Outlook Money NDTV Profit Award 2007″
14. “Web 18-Genius of the web Award” Conferred for the best website in insurance Category
15. “SKOCH Challengers Award 2008″ for “Jeevan Madhur”.
16. “Loyalty Awards 2008″- insurance Sector.
17. Double crown for LIC in corporate Olympics 2008, Most Sporting Corporate 2) Corporate Championship Award Winner-2008
    
    Honouring of the Commitment - Settlement of Claims
18. No.1 insurance Company in the world in terms of claims paid.
19. LIC Settles 2.21 claims per second, LIC settled 139 lakhs claims during the year 2007-2008.
20. Prompt settlement of claims (97% maturity claim settled on or before due date)
21. One of the Lowest outstanding Claim Ratio in the world ( Maturity+S B Claim-0.07%)

    Advanced Technology-For better Customer Service

22. Computerized and networked 2048 branch offices and 159 satellite offices throughout the country.
23. Use of High Tech-WAN,LAN,IVRS & EDMS
24. LIC is second largest PC user in the country.
25. EDMS to make LIC a paperless office- Enabling Policy servicing & payments through all branchs in the country.
26. Premium Payment Facility extended through networked 2048 branches, ECS, ATM’s through internet, online portals, collecting bank (Axis Bank), AP online, through SMS, through selected agents, Now LIC Premium can also be paid through.

    “Suvidha info Serve KIOSKS” all over India.

27. Policy Holder’s Portal allow on line access to policy status and other details.
28. Info centre set up in 12 cities for customers to interact easily. Dial-1251 for details.
29. 45 interactive Voice Response System (IVRS) centers all over the country to provide information on policy servicing. Facility is available 24 7, Facility can be availed on following phone Nos. 1251 OR 020-25514248.

    Social Strength

30. LIC - an institution builder promoting many financial and insurance institutes like NSE, NCDEX, LIC Mutual Fund, Stock Holding Corporation of India, National insurance Academy, insurance institute of India etc.
31. LIC has foreign operations in Mauritius, Fiji and London and has joint venture operating in Sri lanka, Nepal, Bahrain & Saudi Arabia. New offices will be hortly oprned in Australia, USA&Canada.
32. LIC is known as “Pension Provider” of the country.
33. 1st Pension company in India is floated by LIC as “LIC Pension Fund Ltd” on 21st Nov 2007.
34. First to create waves in micro insurance sector by insuring people below the poverty line. In year 2007-2008, 8.54 lac policies sold through “Jeevan Madhur”Plan.
35. Widest range of plans (about 48) for every need of the customer of 0 to 79 years of age.
36. Biggest Portfolio of Group insurance schemes available.
37. “Jeevan Saral” one of the product of LIC got “Best innovation product ” award from I.R.D.A.
38. LIC has covered lick Risk of 1.13 crore citizens through “AAM ADMI BIMA YOJANA” & ” JANASHREE BIMA YOJANA”.
39. Very Unique Salary saving Portfolio.
40. Highest Number of Corporate Clients in Group insurance Scheme.
41. Expending Distribution Channel through Bancassurances, Corporate Agencies, Broker ship & Chief Life insurarance Advisor (CLIA).
42. New East - Central Zonal Office opened at patina to caterto the needs of states of Bihar, Jharkhand and Orissa. 5 new Divisional offices were also opened in 2007-08. Pune D.O.was splited in 2 divisions, viz Pune Division (i)
    and Pune Division (ii).
43. “Golden Jubilee Foundations” established for undertaking charitable activities like education, health, relief of poverty etc.

    People’s Money for People’s Welfare

44. LIC invested more than 11,630 crores, in infrastructure sector is Rs.56,691
    crores
45. In socially oriented sector like water, drainage & housing etc, LIC has invested Rs.5,635 crores during 2007-08 & total investment in this sector is Rs.32,321 crores.
46. Total investment in Social Sector Rs.89,000 Crs.
47. Different incentive schemes for villages, Schools and Banks under Bima Gram, Bima School and Bima Banks.
48. Total investment in Nation Building Activities is 5,76,000 Crs.

    Financial Strengths

49. LIC’s investment income in 2007-08 was Rs.40,655 crores. Out of Total income of Rs, 1,76,559.28 Crs.
50. Total Assets of the corporation as on 31.3.07 were Rs. 6,74,514.78 Crs.
51. Largest institutional investor in Share Market. On an average Rs.100 crore invested every day. During theyear 2007 LIC earned the profit Rs.10,000 Crs. from the Sale of Equity.
52. Largest Financial institutional investor both Equity market & Term House.

Why life insurance is required & for How much ?

Dear All, Our life is uncertain but our income is certain if we live only and whether we live or not our dependants must live that too with the same comfort at least what we give them today and their future education and marriage etc etc are to be conducted in the same manner as we conduct but even in our absence.

Today my age may be 18 and my income may be few thousand but when age grows my experience grows and my position changes and income also increases all these things only if i live. Other wise only my liabilities will increase with nil income.

When the bread winner dies the bread to the family should not die. For that we should insure adequately now.

There are 3 methods of calculating our life insurance amount. ie.

1. Human Live value : In this method i take my present income, calculate my promotion and higher income what would i be earning till my retirement and then the cost inflation then i arrive at a figure then deduct my personal expenses amount. The remaining is the family income which must go to them even in my absence. This is Human Life Value.

2. Capital Need Analysis Method: I require a sum of capital ie.10 lac after 20 yrs for conducting my daughter marriage. 30 lac for my future pension after 15 yrs and another 10 lac for my son's higher education after 16 yrs. If that much money is required on that stipulated date what would be the today's value for that. Then I arrive the amount of my life insurance cover to get that much capital needed to fulfill that obligations on that exact dates.

3.The Third Method is : Net Worth Method: Under this i calculate all my moving and deduct the depreciation, then all my income earning , non income earning , and all my liabilities deducted from the total assets. Then i see the result and if the liabilities are more than the or the net assets if not fetching at least my today's income by way of its interest I take a policy to over come the shortage. So, that If i die at least my liabilities are not passed on to my dependents and I ensure that they get my income even in my absence.

Now from birth to death for any age there are policies. Child policy for children world class education, marriage, adult to protect their income, joint life policies, Pure life risk policies with low premium with no return, money back, double cover, tripple cover, extended cover, go on increasing life risk value with out increase in premium, limited payment of premium policies, pension policies for my old age, Guaranteed addition policies and so on. Income tax planning, savings planning, housing loan can obtained through lic policies.

The entire returns by way of money back, maturity, pension is fully exempted from income tax. All the money paid in up keeping the policy in respect of self, spouse, children irrespective of their age and marital status it is exempted on the person who pays the premium.

If any one wants to know about anything in life insurance a to z i can explain, clarify, even send the worked out chart provided if they give their dt of birth, min premium per year and max premium upto how much they can afford to pay and for how many years.

How to take Policy from me: One need not come to Mumbai, India You can email me and through E-mail all can be done and medical can be done at your place itself. For details pl contact me at
Email Id.: devendra.thutagar@gmail.com
Mobile: +91 869121124

I am in this field for the past 3 years.

Any suggestion to improve and all your valuable advise to improve this will be welcomed and appreciated and I will be very grateful to all of you for your kind support.

Thanks,
Devendra

mail me to devendra.thutagar@gmail.com

LIC INFO CENTRE on 1251

To know your policy details on line through IVRS (Interactive Voice Response system) in the following cities, please dial 1251 (4 digits only). We have 45 IVRS centers providing all types of information on policy servicing.

This facility is available 24×7 and the cities having IVRS centers are as follows;

Visakhapatnam,

Vijayawada,Cuttack,

Patna,

Jamshedpur,

Asansol,

Shilong,

Ranchi,

Hazaribagh,

Jammu,

Shimla,

Rajkot,

Surat,

Vadodara,

Mysore,

Dharwad,

Kozhikode,

Trivandrum,

Agra,

Allahabad,

Bareilly,

Kanpur,

Varanasi,

Kota,

Amritsar,

Jalandar,

Ludhiana,

Bhopal,

Jabalpur,

Gwalior,

Meerut,

Jodhpur,

Lucknow,

Coimbatore,

Madurai,

Salem,

Thanjavur,

Pondicherry,

Goa,

Kolhapur,

Nagpur,

Nashik,

Aurangabad,

Gorakhpur and

Raipur.

To avail IVRS facilities from any of these centers just dial 1251 which is a
unique telephone number. From any place other than the above mentioned
45 centers, IVRS can be accessed by dialing the City STD code of the IVRS
center followed by 1251.
IVRS-CUM-INFO CENTERS:- In addition to the above, with a view to helping
customers interact easily from place of their convenience, LIC has set up
INFO CENTERS in the following 12 places. Delhi, Kolkatta, Mumbai, Ahmedabad,
Pune, Hyderabad, Bangalore, Chennai, Jaipur, Indore, Chandigarh and
Guwahati.
Where the information need of the caller goes beyond what can be answered
by IVRS, he has the option to interact with our Info Center Executive. The
access No. is the same (1251).

The INFO CENTERS work from 8 AM to 8PM from Monday to Friday and from 10AM to 6PM on Saturdays. INFO CENTERS provide information on products, policy status, policy servicing, Telephone Nos and addresses of our Offices and any other information the customer would want. To talk to Info Center Executives, from MTNL/BSNL and line. If calling through Mobile or Tata Phone

please dial the below mentioned telephone numbers.

Life Insurance Advice for Free !

DEVENDRA THUTHGAR

TEL (RESI) 022-28656704
MOBILE: 9869 121124/ 9969 885038

email: devendra.thutagar@gmail.com

freddie_dev13@yahoo.com

Dear Sir:

I am extremely happy and privileged regarding LIC Presentation at your doorstep and I am happy to give this proposal of Life Insurance Awareness at your door.Kindly let us have the confirmation of date & time for the presentation; I recommend that this will take around 20 minutes.

I take this esteemed privilege in communicating with you regarding LIFE INSURANCE & LIFE INSURANCE CORPORATION OF INDIA. A country with a population of, over 100 Crores. Imagine what it takes to serve them. Dedication, Integrity, Commitment. And the trust of all those people. All qualities that are at the core of LIC. Over a span of 5 decades, the Life Insurance Corporation of India has helped millions of Indian households open their doors to a more secure future.

Every year, more and more people realize the importance of insurance, and are turning to me for solutions. I understand that different people have their own sets of needs at various stages of their lives. I therefore offer a wide range of schemes to suit almost every conceivable financial need. Moreso, in case of any lic services, including Premium Collection, change of address, revival of lapsed policies, Policy loans, Death Claims… etc… please feel free to contact me.

We shall appreciate if your could schedule us your precious time in giving us an opportunity for our insurance presentation and we now offer your FREE CONSULTATIONS & PRESENTATIONS ON INSURANCE POLICY for information and guidance.

Thanks-a-lot for giving us an opportunity to introduce Life Insurance to you and waiting eagerly to meet you soon,

Sincerely Yours,

DEVENDRA THUTHGAR

ENCL : Financial Planner

REPLY FORM

TO:

Devendra Thuthgar

LIC Agent, LIC of India,

Borivali-eas, Mumbai - 400066

Dear Mr. Devendra,

We are in receipt of your letter-dated ______ regarding presentation & interaction of LIFE INSURANCE needs for the employees of our organization.

We are interested in inviting you for the same.

We recommend the following dates, time & venue:

OPTIONS	DATE	TIME	VENUE	PARTICIPANTS
1.
2.
3.

OR

We are not interested for a personal meeting; however you may mail your presentations.

OR

We would be in communication with you on a later date.

Thanking you,

AUTHORISED SIGNATORY

NAME:

DESIGNATION:

PHONE NO:

FAX NO: E-MAIL

What is Life Insurance ???????

ALife policy is just a time-yellowed piece of paper with column of figures and legal phrases until it is baptised with a widow's tears. Then it is the modern miracle and Alladdin's Lamp. It is Food, Clothing, Shelter, Education, Peace of mind, Comfort, Undying Love and Affection. It is the sincerest love letter ever written.

It quietens the hungry crying of a baby at night. It eases the aching heart of the bereaved widow. It is a comforting whisper in the dark, silent hours of the night. It is new hope, fresh courage and strength for the mother to pick up the broken threads of life and carry on. It is a college education for the son and daughter, the chance for a career instead of a need for a job.

It is comforting presence, a helping hand, a softly breathed word of comfort and cheer when needed most. It is the undying, unfailing love and affection. It is fruition of a father's hopes and plan for the family's future. Through Life Insurance he lives on. There is on death, Life Insurance is a Plan that Exalts Life and Defeats death. It is the premium that we pay for the privilege of living after death.

LIC OF INDIA - HEALTH PLUS PLAN (TABLE 901)

Promoter: Life Insurance Corporation of India (LIC)

Type: Unit Linked Health Insurance Plan with fixed Benefits.

Some of the common questions answered

`In what form my contribution is kept with you?’

• In the form of `units’.

`How are units allotted?’

• Out of your contribution, 30% during the first year and 6 % during subsequent years are apportioned towards premium allocation charges. These include Administration and Mortality (Life Insurance Premium) charges. `Units’ are allotted only on the remaining amount after taking away premium allocation charges.

`What are the medical benefits assured under the plan?’

• Hospital Cash Benefit (HCB)
• Major Surgical Benefit (MSB)
• Domiciliary Treatment Benefit (DTB)

`What are the charges for these benefits’?

• These charges vary with age of the members being covered. They also vary from males to females.

`How are these charges collected?’

• These charges are collected every month by cancelling some of the `units’ in your Policy Fund account depending on the NAV prevailing as on the day of collection.

`What is Domiciliary treatment ?’

• Treatment at your home itself, as is adviced by your doctor

`Does Health-Plus provide cover against Domiciliary treatment also?’

• Yes, after 3 years from the commencement.

`How long the medical benefits continue under Health-Plus plan ?’

• Upto the age of 65 years in case of insured person or spouse of the insured person and 25 years in case of child of the insured person.

`What are the age groups eligible to enter Health-Plus Plan?’

• 18-55 years.

`Is Health-Plus a family cover plan or limited only to the person insured ?’

• It is a family coverage. It can cover insured, insured’s spouse and dependent children. In case insured is still a bachelor at the time of entering the plan, spouse and child(ren) can be admitted as and when he/she gets married and get child(ren).
• In case insured’s spouse and dependent children are right now eligible for entry into the plan but have been omitted for some reason or the other, they cannot be covered in future.

`What is the quantum of Hospital Cash benefits available under Health-Plus ?’

• Rs 250/ to Rs 2500/per day in case of insured.
• Rs 250/ to Rs 1500/per day in case of insured’s spouse /dependent children.

`Is there any limit as regards Hospital Cash Benefit payable under Health-Plus?’

• Yes, HCB payable per person is for a maximum of 18 days per policy year and 365 days for the entire policy duration.

`What is the quantum of Surgical benefits available under Health-Plus ?’

• Upto a maximum of 100 % of the sum assured in a year.

`Is there any limit as regards Surgical benefits available under Health-Plus ?’

• Yes, Maximum Lifetime Surgical Benefit is limited to 3 times the sum insured per member covered.

`What is life-time Benefit under Health-Plus ?’

• Quantum of Surgical benefit available during the entire cover period.

`What do I receive in case I survive the policy term and not availed any medical benefit ?’

• Cash value of the `balance units’ in your policy fund.

`What is Policy Fund ?’

• Out of your yearly contribution decided and paid , Amount left over after allowing premium allocation charges amounting to 30% in the first year and 6% in subsequent yearsconstitutes `Policy Fund’

`How is Policy Fund investment made ?’

• Not less than 50 % invested in Govt/Government Guaranteed Securities
• Not more than 90% invested in Short-term investments such as money market instruments including Government Securities and Corporate Debt
• Not less than 10 % and not more than 50 % in listed Equity Shares.

Whole objective of this investment pattern is to ensure that the investor carries very low risk.

`What is the status of my policy in case I am no more during currency of the plan ?’

• If you have taken Health-Plus on your life only, in case of expiry, your nominee will receive Cash value of the `units’ held in your policy fund.
• If you have included any of your family members as is provided by the plan, in case of your expiry before 3 years from the commencement, your nominee will get cash value of the units held in your policy fund and the contract for life insurance comes to an end.
• If your family members have been included as is provided by the plan, in case of your expiry after 3 years from the commencement, your premium payment stops. But, the policy continues till the fund is sufficient to recover all the charges or till the end of the policy term whichever is earlier. At the end of the policy term, balance in the fund if any shall be refunded.
• In case of expiry of any of the insured members of your family except you, plan status does not change.
• In case of expiry of both yourself (Principal Insured) and your spouse during the policy currency, benefits in respect of your children continue and be paid if there is a major child or will be paid to the legal guardians, if the children are minors.
• In the unfortunate expiry of all of you, i.e., yourself + your spouse + your children, benefits shall go to your legal guardian.

`What is the minimum contribution allowed under Health-Plus ?’

• Higher of Rs 5,000/- P.A or 6 times HCB, if you are the principal insured,
• Higher of Rs 7,500/- P.A or arithmetic sum of 6 times HCB for you + 3 times HCB of one more member that could be either your spouse or your dependent children,
• Higher of Rs 10,000/- P.A or arithmetic sum of 6 times HCB for you + 3 times HCB of additional members that could be your spouse and your dependent children.

`Is there anything like Maximum contribution under Health-Plus?’

• No.

`Can I encash the policy itself instead of waiting for completion of the policy term’?

• Yes, after completion of the third policy anniversary from the commencement. Surrender value payable will be fund value of all the units in your account as on the day of surrender.

`What is the income-tax benefit under the plan ?’

• Premium paid under Market Plus enjoys I.T exemption upto Rs 15,000/- per annum under section 80D of the I.T Act 1961. In case of Senior Citizens, this exemption is allowed upto Rs 20,000/- per annum.

`Can I invest under Health Plus ‘?

• Yes, if you are in the age group of 18-55 years.