#LifeInsurance #JeevanUmang #Insurance As response to my thread on #healthinsurance a question came: "Sure, wil wait for ur resp. what I am told & if that’s true, then I like it - for 15 yr pay 2 lac PA , life insurance cover would start from day one would be close to 30 lacs,
and from 15 th year onwards I get 2 lac PA till death. In all this yr cover will keep increasing...." from @Parthiv33 . Jeevan Umang is a wholelife policy that gives the benefit of pension without being a Pension policy and therein lies its greatest benefit.
Let's assume a person aged 35 takes this policy with a premium payment term of 25 years - i.e. at 60 premium payment is done and dusted. What will he receive?
From the time he's 60, he will start receiving Rs. 392,000 per annum till he's 99 years of age.
He would have paid premium of Rs. 49,18,376
From age 60-99, he gets Rs. 392,000 per annum - and no tax burden on this inflow. Suppose the policy is surrendered at the age of 66, he gets Rs. 1.74 cr. If he surrenders when he is 70, he will get Rs. 2.31 cr. - all this tax free.
Initial sum assured is Rs. 51.30 Lakhs and rises steadily to Rs. 1.23 cr. by the time he turns 60.

Sorry for the delayed response, Sir @Parthiv33 Hope this is clear. If you have more questions, please let me know. Will send my number over DM!

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More from @chittukuruvi4

2 Dec
Something to think and choose our course of action. #Life #Tension #ATTITUDE #wednesdaythought

A person was worried for a long time, due to which he started living very irritable and tense. He was upset about many things.
That he has to bear all the expenses of the house, the responsibility of the whole family is on him, some relatives or other and his friends visiting him asking for help were bothering him as it kept adding to his expenses.
Thinking these things, he used to get very upset and used to scold the children often and he would fight with his wife on some or the other thing.
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30 Nov
A conversation between 2 twins while they are in the womb of their mother. Pretty profound. Got it in a mail. #MOTHER #motherhood #conversation #mondaythoughts #MondayMotivation
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In a mother’s womb were two babies..._
One asked the other: “Do you believe in life after delivery?”

The other replied, “Why, of course. There has to be something after delivery. Maybe we are here to prepare ourselves for what we will be later.”
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28 Nov
#humor Thread An infographic!!! Image
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28 Nov
#insurance #healthinsurance One of the questions that came up in response to my note on Insurance was, "but the big issue with health insurance is the long list of ailment exclusions that most of them have". Let me try and answer this question.
Health Insurance policies in India are diseases and / or treatment agnostic, except in specific cases. The primary intention of this Insurance is to cover expenses incurred during hospitalization for a treatment regardless of the underlying disease / medical condition.
There are 3 #WaitingPeriods in Health Insurance. a. First 30 days after taking a fresh policy (not applicable for renewals done within time); b. 1 to 2 years waiting period applicable for specific medical conditions - regardless of whether it was pre-existing or not. and...
Read 12 tweets
25 Nov
Thread on #insurance. Those who think Insurance is a scam, a scheme for milking money and et al. No am not saying that those who think this way are wrong but let me clear few misconceptions and myths on Insurance. Am part of this industry for a long time.
Health Insurance: If one doesn't have insurance, can he set aside a regular every month to provide for that rainy day, when money will be required to pay for health care. People in the very high income brackets, but people from lower income to upper middle income class, can they?
As an individual may be one can, but can you provide for a family of 4 to 6 including parents? And will that money that you set aside in a bank - does it not have opportunity cost?
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24 Nov
#humour
The story below will tell you what the real stress is:

A beautiful girl asks you for a ride home. On the way she fainted and you take her to hospital.

The doctor tells you, "Congratulations!. You are going to become a father "

THAT'S IT. YOU GET STRESSED.
You say: "But that baby is not mine."

But the girl says : "He is the father of my baby."

YOU GET MORE STRESSED.

And to prove your innocence, you demand a DNA test.

The police arrive, and a DNA test is done. And you are sweating profusely.
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You become relaxed, right? Wrong!!!

WHAT? YOU GET EVEN MORE STRESSED!.
Read 4 tweets

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