Sentences with phrase «taken endowment policy»

I have taken endowment policy in lic on feb 2015.

I have already made a mistake by taking an endowment policy (Jeevan Anand for term of 30 yrs) and have paid 2 premiums around 53000 in total (around 26.5 thou annual premium).

I took an endowment policy 2 years ago for Rs50, 000 per annual premium, and the agent told me that after 25 years, it will give me Rs30, 000 per month.

Not exact matches

Generally, endowment funds follow a suitably strict policy allocation, which is a set of long - term rules that dictates the asset allocation that will yield the targeted return requirement without taking on too much risk.

Under current federal tax rules, loans taken will generally be free of current income tax as long as the policy remains in effect until the insured's death, does not lapse or matures, and is not a modified endowment contract.

Under current federal tax rules, loans taken will generally be free of current income tax as long as the policy remains in effect until the insured's death, does not lapse or mature, and is not a modified endowment contract.

madam is endowment policy safe I want to invest in some plan which giver returns much higher than bank interest which I can take back for my sons studies after 3 yrs please guide me

The investment planners study your case and assess your risk taking ability and risk appetite to further recommend an asset allocation plan or an apt endowment policy.

You can take your pick from an array of life insurance policies that include term insurance plans, endowment plans, money back plans or ULIP plans, all of which will provide you with tax benefits.As per Section 80C, the premiums that you pay towards the life insurance policy is deductible up to a maximum of Rs 1.5 lakhs.

Withdrawals are taken out premiums first and then gains, so it is possible to take a tax - free withdrawal from the values of the policy (this assumes the policy is not a MEC, i.e. «modified endowment contract»).

If you have multiple children to whom you'd like to leave inheritance, but only one child who is primed to take over your business, a permanent policy can help provide your other kids with an equitable endowment.

Loans are generally not taxable if taken from a life insurance policy that is not a modified endowment contract (MEC).

Remember, endowment plans are not proper for protection purposes, which is the primary objective of taking an insurance policy.

We take the example of an endowment policy of a 35 - year - old, for a policy term of 15 years and for an annual premium of Rs. 1 lakh.

Similar to above questions, mine is also related to LIC endowment policy; All the policy were taken by me during my initial stage of my career.

Generally, this can take 5 - 7 years; although, it can be expedited through a paid up additions rider and / or a supplemental term life rider on your policy to make sure that a modified endowment contract (MEC) doesn't occur.

Beware, as mentioned above, if you take dividend payments they may be taxable if your policy is considered a modified endowment contract to the extent that there is a gain in the policy.

Under current Federal tax rules, loans taken will generally be free of current income tax as long as the policy remains in effect until the insured's death, does not lapse or mature, and is not a modified endowment contract.

You can take your pick from an array of life insurance policies that include term insurance plans, endowment plans, money back plans or ULIP plans, all of which will allow you to save tax with insurance.As per Section 80C, the premiums that you pay towards the life insurance policy is deductible up to a maximum of Rs 1.5 lakhs.

Loan facility: Policyholders can take a loan against an endowment policy as and when needed, and this is usually without the need to secure the loan against collateral.

If you take out a loan against the cash value of your insurance policy, the amount of the loan is not taxable, unless the policy is a modified endowment contract.

Taking more than 1 life insurance policy (term insurance, endowment policy, ULIP etc) is not a problem.

Returns on endowment policies are conservative but guaranteed and these are meant for risk - averse individuals — those who prefer a steady though moderate return rather than take high risks for high returns.

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While I suggest you to consider taking term insurance which comes with very less cost and high coverage, there are other options like endowment policy or whole life insurance policies where you need to pay good amount for small coverage, but you would get money at frequent intervals or at maturity.

Also i have taken an endowment assurance policy for 38K per year, and have paid premiums for 4 years till now.

I have taken lic endowment policy for 10 years am \ nd yearly premium is Rs. 5000 / -.

Since child plans are basically an endowment policy, it offers loan which can be taken against your policy once the policy has acquired surrender value.

Most unit - linked insurance plans and endowment policies can be used to take loans against them.

The policy is taken on the life of the proposer (parent) in a child endowment plan.

am shankar i am take endowment assurance policy t.No: 14, my yearly premium is rs. 6088.00 / -(Sum Assured Rs. 100000, policy term 17 Years) policy take on 11/03/2011.