Life Insurance Queries

How to withdraw money from unit linked insurance plan

I have standard life insurance unit link policy having investment 12000 pa since from 2006, now required some money for my sons education. Please advise me how to withdraw money maximum amount without closing insurance. Please suggest?

Jun 30, 2017 by Nagappa, Bommanahalli | Life Insurance

You have not mentioned which is the unit linked insurance plan you have bought from HDFC Standard Life. Generally, you can draw partially or fully from 6th years onwards after paying minimum 5 annual... Read More

How can I get 1 Crore term plan cover

I need a Term Plan, can you suggest me I was thinking of Aegon Life Insurance it is cheaper from others, I want now more about this company when it was launched and is it trust worthy to invest in this company I need 1 Crore policy but my ITR returns is 3.25 gross profit for that they are giving only 46.00 + Lakhs, if I enter my 10.00 lakhs income which I am not having for 1 Crore policy, does they Verify my ITR?

May 16, 2017 by Suneel Kumar, Raichur | Life Insurance

Let us address your second question first. Income proof is required for buying term life policies. Different companies have different policy approval procedures, but it is quite likely that they will verify... Read More

Can you help as I have not received my Bharti AXA policy

I haven't received my bond form of Bharti AXA till date and when I bought this policy I was posted at J&K. Suggest me for getting my bond form?

Dec 12, 2016 by Sanjay Sati, Uttarkashi | Life Insurance

When you took the policy you were posted in J&K. Now we do not know where you are posted. Otherwise, we could have helped you by providing the Bharti AXA Life office address and contact details in that... Read More

What should I do with the 15 LIC policies that I have with annual premium of 9 Lakhs as I am retiring

Can you please guide me - I have 15 policies with LIC, Annual premium 9 lac per annum, Now willing to take premature retirement. Unable to continue these policies except the one term insurance for INR 1 cr. Surrender value is too little. Can policies be just continued, without asking for refund and without paying premium?

Aug 8, 2016 by Dr Pankaj Agarwal, | Life Insurance

Please share with us the policy details and then only we will be able to reply to your query in details. The details should contain the Policy name (say, Jeevan Anand, endowment etc.) or code / Start date... Read More

Could a government employee work as a LIC agent

Could a government employee work as a LIC agent?

Aug 5, 2016 by Kapil Patil, Kolhapur | Life Insurance

NO. You can not work as a LIC agent if you are a Government employee... Read More

How my HDFC Life Click To Protect policy got rejected

I brought an HDFC click to protect insurance in month of April which got rejected due to my ITR (it had all the income from other sources). Now, I have filed ITR for assessment year 2016-17 and I have shown a salary income of 105000 and business income of 2,50,000 and 3,50,000 from other sources. Now on the basis of new ITR, am I eligible for HDFC Click to protect term insurance? Please help?

Aug 4, 2016 by Shubham, Delhi | Life Insurance

Term life insurance plan is meant to protect your family from income loss in the event of an untimely death. Income proof is necessary to get a term policy. Salaried individuals are required to furnish their... Read More

I have completed 3 years of LIC agency period with 26 lives and 435000 premium

I have completed 3 year's agency period with 26 lives and 435000 premium. Now my agency is live or not?

Aug 1, 2016 by Saravanan, | Life Insurance

Please note that continuation of your life insurance agency will depend on many factors, annual business being one of them. You should contact your branch manager for this. Meanwhile, please note that, if you... Read More

Could you please advise me what should I do with the below ULIP policy which I took in Sep 2009

Could you please advise me what should I do with the below ULIP policy which I took in Sep 2009, without even understanding about it? Abosolute returns after almost 7yrs is ~38%, XIRR is ~9%, Product name ICIC Pru Life Stage Pension - Monthly premium Rs. 1250, Total Investment 1,03,750, Fund Value 1,43,417. From what I understand now, surrender value is 2% upto 6yrs and if 1% after 7-9yrs. Though its just a matter of 1-2 more months to complete 7yrs, I guess 1% does not make much of difference. However, the whole surrender value will be added to my annual income and will be fully taxable. Also from my discussion with one of the ICICI Pru executive, I was told that if I surrender the policy and reinvest the amount to any of their other investment options the whole process would work behind the curtains and I can save income tax on the surrender amount i.e they would not remit the surrender value to my bank account rather internally move it to any of my desired investment option. Therefore, I would appreciate if you can advise on how to proceed on this, also if you can suggest a MF or any other investing option by ICICI to choose from?

Jul 26, 2016 by Ajin Thomas, Ghaziabad | Life Insurance

ICICI Prudential LifeStage Pension Plan is a Unit Linked Pension Plan (ULPP). Unlike traditional insurance plans or Unit Linked Insurance Plans (ULIPs), the surrender proceeds of Unit Linked Pension Plans are... Read More

What is the minimum business criterion for existing LIC Agents

What is the minimum business criterion for existing LIC Agents?

Jul 25, 2016 by Partha Sarathi, Kolkata | Life Insurance

It is minimum 12 policies and 1.50 Lakhs annual new policy premium collection... Read More

Tell me the options as I do not want to continue with my Jeevan Anand policies and want to buy term plan

I have 2 LIC Jeevan Anand policies. I have paid 2 installments and 6 installments respectively. I don't want to continue with these policies and want to buy a term plan. what all options do I have?

Jul 2, 2016 by Shubham, Delhi | Life Insurance

You can surrender your Jeevan Anand policies at any time. However, if you surrender your policy before paying three full year premiums, you will not get any money from LIC. If you have paid more three full year... Read More