Retirement plan - A plan offers the flexibility

Bajaj Allianz Life Insurance has launched a traditional money-back plan – Bajaj Allianz Cash Rich, Retirement plan which gives guaranteed cash back of 5% of the sum assured after completion of premium payment term. The plan is a limited premium payment, participating plan that provides cash benefits at three stages of the policy life cycle.

The plan offers the flexibility to select your policy term from 10 years to 65 years depending on your financial need and select your limited premium payment term (PPT) from 5 years to 30 years, in multiple of 5 years only. The plan also offers a discount for premiums paid in advance, which is declared by the company every year. The rate of discount for FY 10-11 is 7% p.a. compounding annually.

Other Features

·         Keep your policy in-force for full sum assured for a period of two years, even if you miss to pay your premiums on due dates, provided you have paid at least 3 year’s premiums in full.

·         Convert your policy to a “single premium term cover with return of premium (ROP)” policy, if you miss to pay your premiums on due dates provided you have paid at least 5 years’ premiums in full.

·         Get more value for money with attractive high sum assured rebate

·         Optional riders to enhance your protection

 

Best investment online and Smart Save Plan

This initiative has been quite instrumental in bringing transparency in product information dissemination and increase channels for investors to reach insurance service providers. This has simplified the entire insurance process as it has reduced fear about the insurance category and has encouraged people to take their own decisions. 

Some of our plans which are available best investment online are Smart Save Plan, Young India Plan and Anytime Plan.

Though most people worry about the fact that whether purchasing an online insurance policy is safe or nor, it is to be noted that now strict internet security rules are in action. Thus, you can be sure of any online insurance transaction.

We at IndiaFirst Life Insurance, a joint venture between Bank of Baroda, Andhra Bank and UK’s Legal & General, offer all our products to be purchased through our website ‘LifeStore’, which is a complete do-it-yourself site for understanding and buying insurance. The site has been designed to be customer friendly helping in simplification of insurance and encouraging customers to make their own informed insurance decision.

 

Travel insurance can resolve many worries

Most travellers assume that foreign exchange is as simple as presenting their money to a money exchange service, and getting back the local currency of the place they’re visiting. But as it turns out, it isn’t that simple, and unless you’re careful, you could lose out on a lot of money in the exchange process. Although there are a variety of ways in which you can carry money abroad – cash, ATM cards, credit cards and traveller’s cheques – each of them carries its own pitfalls.

Money is the most basic of all travel necessities. Having money troubles when abroad is a traveller’s worst nightmare, seeing as there’s no shortage of risks – theft, misplacement, overspending, unforeseen expenses, etc.  While travel insurance can resolve many of these worries, the greatest, hidden danger of dealing in currency abroad is – exchange rates.

Travel insurance - TRAPS

Let’s take a look at what can go wrong when you’re traveling abroad with money in hand.There are some traps given below that proves us the importance of travel insurance.

TRAPS

Cash: While this is the easiest way to carry money, it’s also the riskiest. You do need to carry some cash to cover immediate and small expenses like transport, food and drinks. However, relying only on cash throughout your trip puts you at the mercy of pickpockets and money exchange services, which often charge an extremely high commission and give you a lower rate than the market standard. A cash-only plan also requires you to be on your guard against overspending. After all, what happens if you run out of money?

ATM and Credit cards: An international credit or ATM card is the least risky form of conducting your transactions abroad. Carrying a card ensures that you need not carry much cash, and whenever you run out of money, you can always withdraw more from an ATM or simply charge your expenses to your account. Sounds fuss-free? It is, as long as you ignore the massive currency conversion and service charges you keep racking up at your bank.

Traveller’s cheques: This tried-and-true method of carrying money offers a great advantage over theft and misplacement. As long as you remember the cheque numbers, or have photocopies, you can get them encashed even if the cheques themselves have been lost of stolen. So what’s the problem, you ask? The flat fee for encashment – which can make small transactions burdensome, and your overall transaction bill very expensive.