Second Income - Have Second You in the Family
Written on Friday, July 22, 2016
By LI Group Bajaj Capital
With changing times everyone has started planning for Uncertainty of Life, everyone wants to make sure that their families will not have to bear the brunt in case loss of income arises due to any uncertainty.
However how many of us do plan for the real threat i.e. loss of income or possibility of not keeping up to your Wife or Child’s Expectations. You deserve an investment solution, one which offers you something no other investment can, another you in the Family.!!!!
Second Income Investment Solutions is the Answer
Second Income For Self
During golden years, when you are at the top of your game, you don’t need anything but you would need back up when nothing is going your way
Second Income for Housewife
Be self-Independent, The comfort of being a Housewife and independence of being a working woman - "WORKING HOUSEWIFE"
"Second Income” for Child's Expenses
Plan when your expenses are low, because your child’s expenses will never be low
Let us review couple of the best in class investment solution which meets the above requirements
Bharti AXA Life Monthly Income Plus Plan
What is Bharti AXA Life Monthly Income plus Plan?
Every month comes with a new wish. Be it a laptop for your kid’s birthday, a trip abroad for your wife or a renovation for your home. You often postpone these desires in the pursuit of fulfilling immediate needs. Bharti AXA Life Monthly Income Plan+ is a limited premium payment traditional Participating endowment plan, ensuring a guaranteed monthly income that helps to fulfil your loved ones’ desires while protecting them in a case of an Unfortunate event.
Reasons to buy this plan
1. Guaranteed Tax-Free Monthly Income.
2. Potential Upside through Bonuses
3. Limited Premium Payment Term
4. Continued Monthly Income after Death
5. Tax-Free Maturity
Guaranteed Tax-Free Monthly Income - Maturity Benefit.
You start receiving Guaranteed Monthly Income after the completion of the Premium Payment Term, until Maturity, provided the policy is in force.
You have the flexibility to choose the Monthly Income you wish to receive, which decides your premium amount.
This income is tax-free
On Maturity in addition to the Monthly Income client would receive Non-Guaranteed plus Non-Guaranteed Terminal Bonus
Comprehensive Protection - Death Benefit
1. In a case of the unfortunate death of the Life Insured, a percentage of Monthly Income is payable to the nominee from the next policy month onwards and continues for the next 8, 10 or 15 years depending on the Policy Term option chosen at inception of the policy.
2. This pay-out is made over and above the Monthly Income pay-outs made before the death of the Life Insured.
3. The accrued Non-Guaranteed Annual Reversionary bonuses and Non-Guaranteed Terminal bonus are paid out on death as a lump sum along with the first monthly income instalment.
Potential Upside through Bonuses
1. Non-Guaranteed Simple Annual Reversionary Bonuses get accrued to the policy from the end of 1st policy year and get paid out on Maturity or on death.
2. You may also receive non-guaranteed terminal bonus either on death or maturity.
HDFC Life Super Income
What is HDFC Life Super Income Plan?
As you approach different stages in life, there are dreams and aspirations that you set out for yourself and for your family, but this doesn’t set you free from the day to day responsibilities of managing house, paying for heath expenses, school fees etc. HDFC Life Super Income Plan is a participating plan that offers guaranteed income for a period of 8 to 15 yrs.
Reasons to buy this plan
1. Various PT and PPT options to meet your Income Goals
2. Guaranteed Income varies from 8% to 12.5% of SA p.a.
3. Guaranteed Base Income is paid per annum during Maturity Pay-out period
4. Boost your Regular Income at Maturity with Revisionary Bonus and Terminal Bonus
Range of PPT and PT options to meet your Income Goals
This plan offers various options which client can select at inception to achieve ones’ financial Goal.
Guaranteed Base Income (GBI)
It will be expressed as percentage of Sum Assured on Maturity. This amount is known to client at Policy Inception and is paid at the end of year during the pay-out period as per the chosen Plan option. Percentage of the pay-out under different pay-out options is detailed herewith
Higher Protection Benefit - Death Benefit
In a case of the unfortunate event of death of the Life Insured during the Policy Term, the following benefits will be payable to the Nominee, subject to Policy being in force. The Sum Assured on death will be the higher of:
1. Sum Assured on Maturity, or
2. 11 times Annualised Premium, or
3. 105% of all premiums paid (excluding any additional charges as levied by the Company over and above the standard premium rates).
Limited Premium Payment Term
There are three Premium Payment Terms available. You can opt for a Premium Payment Term of 5, 7 and 12 years. The Policy Term depends upon the premium term chosen.