Senior Citizens Savings Scheme from Post office of India offers Interest @ 8.5% per annum from the date of deposit on quarterly basis. Interest can be automatically credited to savings account provided both the accounts stand in the same post office.
Author: Tarun Bansal Savingwala
Plan tax in advance for better gains
Efficient tax planning not only helps you save money but also helps in investing in instruments that yield good returns. Planning well ahead is critical for individuals who are taxed at a high rate.
LIC to issue Pre-paid cards to clients
LIC entered the credit card business in March 2009 by floating a wholly-owned subsidiary — LIC Card Services . The ‘LIC Cards’ are managed by Corporation Bank and the Visa is the payment service provider.
HDFC Standard Life hopes to break-even in FY12
Insurer HDFC Standard Life Insurance Company Ltd expects to break-even in the 2011/12 financial year, helped by an increase in premium income and reduction in operating costs, its chief executive said.
LIC to increase risk coverage of weaker sections in Himachal
To provide a social security cover for weaker sections, Life Corporation of India (LIC), is all set to surpass last year’s target of bringing more than 59,000 people under a life cover that also provides additional benefits.
LIC of India will provide school uniforms for tribal hostel students
At the valedictory function of the Social Security Month celebrations of LIC Pension and Group Schemes Unit, Vellore Division held at Yelagiri Hills on Tuesday, Mr. Sharma distributed educational scholarships to beneficiaries enrolled in LIC’s social security scheme Janashree Bima Yojana.
ING Life launches ‘ING Prospering Life’
NG Life India today launched its versatile new Unit Linked Insurance Product (ULIP), which meets the wealth accumulation and protection needs of customer.
IRDA bans universal life plans of Max New York Life, Aviva Life, Bharti Axa Life and Reliance Life
The Insurance Regulatory and Development Authority (Irda) has announced an overnight ban on all universal life insurance plans (ULPs). The regulator has told insurance companies that all current universal life plans will cease to exist from October 22.
Life Insurance V/S Other Savings
Life insurance assures payment of the entire amount assured (along with bonuses, wherever applicable) in case of demise, whereas in other savings schemes, only the amount saved (with interest) is payable.
LIC crosses Rs 10 bn mark premium under new ULIPs
The Life Insurance Corporation of India (LIC) has crossed Rs 10 billion mark under the new ULIP plans, pension plus and endowment plus.