LIC’s Jeevan Vaibhav-Review


BasuNivesh now available in it’s own domain from 22nd June 2012.

LIC is launching one more Single Premium plan on 21st May 2012. Looks like all insurers on launching spree of single premium plans.  Now let us look at it’s features and what is new in it. It is a single premium plan and closed ended plan. It will be available for 120 days from May 21st 2012. It is non-linked insurance plan (non ULIP).

Eligibility Conditions:-

1) Minimum Age-8 Years

2) Maximum Age-65 Years

3) Mode of Payment-Single Payment

4) Minimum Sum Assured-Rs.2,00,000 and Maximum no limit

5) Minimum Premium-As being Minimum SA is Rs.2,00,00 so Minimum Premium Payment will change for each age group (for example for 8 years old Single Premium will be Rs.95,210 excluding taxes and for 65 years old Single Premium will be Rs.1,06,280 excluding taxes)

6) Policy Term-10 Yrs

Benefits:-1) Death Benefits

On death during the policy year excluding the policy year i,e 10 year you will receive Sum Assured.

On death during the policy 10 year, you are eligible for Sum Assured along with Loyalty Addition.

2) Maturity Benefit

On Maturity Sum Assured along with Loyalty Addition will be payable.

3) Loyalty Addition

It depends on LIC’s experience which you cant expect now exactly.

Loans-Loan can be granted after the one policy year subject to the maximum of Surrender Value (remember not the premium you paid). Loan interest rate is 10.25% Compounding Half Yearly.

Surrender Value- 1) Guaranteed Surrender Value- You are eligible for 90% of the premium you paid after the expiry of one year but excluding extra premium if you paid any.

2) Special surrender value will be payable, if it is more favorable to the policyholder.The Special Surrender Value will be the discounted value of the Sum Assured. The discount factors shall be the special surrender value factors used for LIC’s Endowment Assurance plan, which will depend on the policy term and the duration elapsed since commencement of the policy. The Special Surrender Value factors per Rs. 100 Basic Sum Assured for duration 1 and 1.5 years are 44.52 and 45.97 respectively

My Review:- In plain it looks like previous single premium plan of LIC’s Jeevan Vriddhi. But in reality you may find lot of  differences.

1) Maturity benefits and Death Benefits- In Jeevan Vriddhi Maturity Sum Assured was guaranteed but here it depends on LIC’s Loyalty Addition declaration which you cant predict.  Death Benefit too looks not attractive, usually in non linked plans you will get Sum Assured along with Bonus till the date of the death. But in this plan only Sum Assured will be payable if death occurs within 9 years of policy term as only Loyalty Addition is attached with this policy. Instead if death occurs during 10th year then you are eligible for Sum Assured along with Loyalty Addition. So big drawback of this policy is death benefit you will get before 9th year of policy.

2) Returns-Let us consider Insured age as 30 yrs and for this age tabular premium will be Rs.463.417 for Rs.1,000 Sum Assured (Excluding applicable taxes). So if he opts for Rs.10,00,000 Sum Assured Plan then he need to pay a single premium  of Rs.4,63,417. In this case your life risk will be Rs.10,00,000 and returns on death claim too same till the 9th year of policy. Now in this we will exclude the premium which you will be paying towards your life risk coverage of Rs.10,00,000. For that as usual I consider LIC’s Term Plan Anmol Jeevan for 10 yr period. So premium for this term insurance is Rs.2,564 yearly. Now after deducting this amount from the single premium you are paying Rs.4,46,213  (For this I considered whole 10 year term plan payment being invested now in a 8% returning avenue then today you need to invest Rs.17,204 to accommodate yearly flow of Rs.2,504 towards Term Insurance) . So for the whole 10 year your investment amount will be Rs.4,46,213. To generate returns of around 9% from this policy then Loyalty Addition LIC need to pay will be Rs.56,348 along with SA (Future Value with 9% CAGR is Rs.10,56,348). Will LIC deliver such a high Loyalty Addition after paying 2% agents commission and it’s policy expenses? Few may refer it as a Insurance+Investment Plan. But as the term of the plan being 10 years, will LIC issue same Sum Assured Term Insurance after 10 years without increase of Premium to the person who invest now in this plan? A big no, then forget about Insurance part attached with this plan and just purely think as how much you will get by investing.

3) Loyalty Addition-This is the major point you need to look for. Because your returns depend on this Loyalty Addition. Now let us look at the LIC’s history of Loyalty Addition payment. Loyalty additions hover from 40 to 60 for currently available plans. So you may not expect high and lucrative Loyalty Addition from this plan too.

4) Taxation-When you look for tax saving angle too, it lacks the current Budget modifications. To avail deduction under section 80C your premium should 10% of SA. So if you opt for Rs.10,00,000 SA then your premium should be within Rs.1,00,000 which is not possible from this policy.

Overall looks pathetic and LIC came up with this plan with sole intention of launching “Single Premium Plan”. You can easily get good returns by locking your investment in current high yielding Bank FDs for same 10 yrs and opting for Term Insurance till 60 years of your age (Remember not for 10 years because after 10 years you will not get the same life cover with same premium for what you will get now).

Why your Insurance Agent not sold you Term Insurance?


BasuNivesh now available in it’s own domain from 22nd June 2012.

Today we will look for the reasons about why your insurance agent not sold you Term Insurance. Each true Financial Advisers recommending you to have it first to cover your life risk, but on the other side your Insurance Agents or Advisers are forcing you to buy the products which are Insurance+Investments where your will fail to cover your basic life risk to the fullest. It happened in past, is happening now and will continue in future too until investors awakes and ask 1000 questions for the reasons of recommending the particular product.  These are the few reasons which may forcing agents to be away from selling Term Plans.

1) Lack of Knowledge by Agents: When you ask agents about insurance, they usually have standard list of products which they used to sell on daily. Which makes them drawing their own comfortable level about products. When you ask about any older products or odd products, they totally not aware of those things. Primary reason for not having enough knowledge is, major chunk of insurance agents in India works as part time. Which will not let them to have enough time and patience to grab the desired knowledge.

2) Lack of Knowledge by Insurance seekers: Majority of people especially in India think that Insurance is a investment tool rather than a protective tool. It happened so due to no available avenues for investment in past. But presently when you have so many avenues to invest for then why you need to stick to the Insurance format where both insurance and investment mixed? It is also wrong thing to blindly follow your agents suggestion and signing the offer document without knowing the impact it will create on your future financial life. Yesterday itself I came across such a incident where one of my client asked my advise about investing yearly Rs.1,00,000 in any insurance products of one particular company. When I asked for reasons of his investments and choosing the particular company, he told he want to accumulate  some decent money after 10 years and major reason is he want to help the agent who is his friend’s mother. I simply asked him Rs.1,00,000 is what percentage of his yearly income?? He never calculated that too. Finally  advised him, if he really interested to help that agent then better to have term plan with that company. You will find such a cases regularly.

3) Earnings of Agents: When agent selling you the product which is Insurance+Investment, he have good opportunity to earn the handsome income. Like for example, if  he recommend you any Endowment Plan with the premium of around Rs.1,00,000 his income will be around Rs.25,000. This plan with such a high premium may cover your life risk around Rs.20,00,000. But if he sell you the same sum assured product i,e Rs.20,00,000 Term Insurance then premium may be around Rs.6,000. So by selling this Term Plan he will get the commission of around Rs.1,500 (25% of your premium). Then who will loose such a opportunity of selling Endowment Plan rather than Term plan??

4) Future business for Agents: When he sell you the Endowment plans or ULIPs and created your mindset such that insurance products are for investment, he have every opportunity to get continues business from you in the name of investment on regular base. So whenever their is a salary hike, increase in income or new family members entry (like birth and marriage) he uses such opportunities to generate his business. But when he convince you about the benefits of Term Insurance and sell you the product then you will not look back at him to purchase any insurance product for another 15 to 20 years. So he will loose the huge future business opportunity by selling you the term plans.

I think these are the major factors which led your insurance agents not recommending you Term Plans. Hope you now got bit of awareness and cover your life first. I will conclude this article with one example how even wrong media can create wrong perceptions about Insurance. Yesterday when I was watching the super, competitive, breaking news spreading, and unbiased Kananda news channel, they showed one line breaking news that they are airing the programme which is mainly about “INSURANCE INVESTMENT IDEAS”. Strange even few medias also think that Insurance is investment 🙂

LIC’s revised (2012-13) interest rates for Policy Loans, Revival and Dating Back

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BasuNivesh now available in it’s own domain from 22nd June 2012.

LIC revised it’s interest rate for various financial transactions like loan and dating back of policies for year 2012-13. Major change you look for is loan rate which is currently 9% changed to 10%.  Revival and Dating Back of policies changed from existing 8% to 9.5%. The details of the same are as below

Srl No. Type of Transaction Current Rate of Interest (%) Revised Rate of interest (%)
1 Policy loans (under all plans except Jeevan Aastha (Plan 195) and Jeevan Vridhhi (Plan 808) 9 10
2 Policy Loans under Jeevan Aastha (Plan 195) and Jeevan Vridhhi (Plan 808) 10.25 10.5
3 For policies issued on or after 1/1/1987 a) Arrears of premiums within 6 months from the date of FUP and b) For revivals 8 9.5
4 Arrears of premiums for alterations and age providing higher 9.5
5 Dating back of policies 8 9.5
6 Discount factor for a) Commutation of instalments under educational annuity policies, b) commutation of Income Benefits under Multi-purpose, Guaranteed benefits under annuity policeis and c) unpaid instalments under settlement options 9.5
7 Settlement options for Maturity Claims 6
8 a) Advance payment of premiums (for all plans except Jeevan Sneha (Plan 128) 5 6
b) Advance payment of premiums for jeevan Sneha (Plan 128) 10
9 Delayed payment of claims 11.5
10 Discounted value or accumulated value for calculation of Special Surrender Value under Jeevan Saral (Plan 165) 7.5
11 Accumulation of survival benefits under Jeevan Bharati (Plan 160) and Jeevan Bharati I (Plan 192) 4
12 Discounting of claims during the last year of policy term 9
13 Reinstatement of surrendered policies 10.5

For further clarification you can look for LIC’s circular of Actl/PS/2202/4 dated 28/04/2012

Do you know LIC’s Term Insurance Plans??

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BasuNivesh now available in it’s own domain from 22nd June 2012.

“Is LIC offer any Term Insurance Plans?” this is the common question which I face during my conversation with my clients when I recommend them to have Term Insurance Plan to cover their Life Risk. This is the situation we are facing due to lack of knowledge sharing and eagerness to sell the products rather than solution. So thought to have a look about the available Term Insurance products in LIC. I thought to speak in this article about LIC’s plans. Reasons are 1) It is India’s oldest Life Insurance Company 2) Major player in Indian Life Insurance industry with it’s huge penetration 3) Faith it generated among the people since long. This is the reason even today also after the private insurers entry into India since 2000, people believe in LIC. But will LIC folks retain this glory? Wait and watch the future 🙂

To proceed further let us look at the history about when LIC started to sell Term Insurance Products. Before the current available term plans Amulya Jeevan and Anamol Jeevan, LIC had term plans called Bima Sandesh and Bima Kiran. Bima Sandesh was the term plan with benefits as Death Benefit-Full Sum Assured payable and Survival Benefit-Return of Premium payable. Bima Kiran was the  improved version of Bima Sandesh,  Death Benefit was-SA+Loyalty Addition and Survival Benefit was-Premium Paid+Loyalty Addition. Currently Bima Sandesh and Bima Kiran not available. Now let us look at the available Term Plans from LIC.

1) Anmol Jeevan-This plan was started on 1-11-2003 with the need of pure term plan which was missing in LIC and this absent was the reason for private insurers to increase their business. This plan was pure term plan rather than any return of premiums or loyalty addition benefit. Main features are as below.

1) Minimum Age at entry-18 Years

2) Maximum Age at entry-55 Years

3) Maximum Maturity Age-65 Years

4) Minimum Term-5 years

5) Maximum Term-25 years

6) Minimum Sum Assured-5 lakh

7) Maximum Sum Assured (Effective from 27-02-2006)-24 lakhs.

Drawbacks are-You cant add any riders to it and as usual compare to private insurers premium is costlier.

2) Amulya Jeevan-This pure term plan was started on 18-02-2008 to cater the insurance need of high earning segment. Major features are as below.

1) Minimum Age at entry-18 Years

2) Maximum Age at entry-60 Years

3) Maximum Maturity Age-70 Years

4) Minimum Term-5 years

5) Maximum Term-35 years

6) Minimum Sum Assured-25 lakh

7) Maximum Sum Assured-No upper limit.

Positive point being age factor- entry and maximum maturity age which is increased compare to Anmol Jeevan. But drawbacks being same-No option to add riders and costly to private insurers.

3) Two Year Temporary Assurance Policy-This plan is suitable for insuring non-insurance minded class of lives who require risk cover for a short period of 2 years or less. Features of this plan are as below.

1) Minimum Age at entry-18 Years

2) Maximum Age at entry-60 Years

3) Maximum Maturity Age-62 Years

4) Minimum Sum Assured-3 lakh

5) Maximum Sum Assured-1 Crore.

6) Modes of Premium payment-Single only

7) Terms Allowed-6/12/18/24 months.

Drawbacks- Insurance for two years??  Proposer required to pay the medical examination fees.

4) The Convertible Term Assurance Policy-LIC shows this plan too as “Term Assurance Plans”. But I dont feel it as a pure term plan as the major aim of this plan is convert in future insured person into investing either in Whole Life plans or Endowment Plans. This plan rather suitable to people who started their carrier recently and unable to pay high premiums for whole life and endowment plans. By taking this plan they can cover their life risk now with lesser premium payment but later they need to convert this plan into Whole Life or Endowment Plans. After the conversion, premium will also raise. Hence this plan is not suitable to them who is looking for pure term plans.

These are the four plans which currently LIC offers. But LIC need to change it’s view on available Term Plans which lacks in competition comparison to-Price, Service, Agents activity to push for these plans and finally online term plans.

Revised (2012-13) interest rate of Employees Provident Fund (EPF)

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BasuNivesh now available in it’s own domain from 22nd June 2012.

Yesterday Labour Minister confirmed that for current fiscal, interest on Employees Provident Fund is fixed at 8.6%. Previously for the years 2010-11 it was 9.5% and for 2011-12 it was 8.25%. So as was hope from all it is now 8.6%  which is really beneficial to salaried class.

But when you compare with Public Provident Fund (PPF) interest rate which is 8.8% for current year, it looks bit low. Only relief for the subscribers of EPF is that-Social Welfare emotion attached with it. Hence government will also play safe in investing and distributing it to beneficiaries.

We cant say the same increasing trend will continue in future also as rate revision on both the schemes revised yearly. But for tax benefit point and safer heaven of investments, still both EPF and PPF holds best options to Indian non risky investors. In terms of investment EPF holds good as your employer too will contribute upto 12% of your salary and if you wish you can voluntarily contribute more to build a retirement corpus. But as EPF is defined contribution plan, it is associated with few risks too. Those are-It is difficult to build a good corpus for the employees who start their profession lately and participants will bear the risk of investment which you can notice by the yearly changes of EPF rates.

So once again I am repeating the same line (keeping in mind of voluntary contributors of EPF) -Plan your goal and accordingly choose the options in which you want to invest based on your risk appetite.  Happy Investing !!! 🙂

How life insurance premium is calculated?


BasuNivesh now available in it’s own domain from 22nd June 2012.

Today I want share with you basic knowledge about how your life insurance premium is calculated. I am mainly concentrating on Pure Risk Plans like Term Insurance. Premium is the payment made by you to Insurance company to cover your life risk. It consists of two factors. One is Pure Premium, which is the actual cost of the risk Insurance companies taking and another is Gross Premium which includes Pure Premium+Expenses. Pure Premium depends on the mortality table they are using. Each company follow their own mortality table. Expenses too differ from company to company. That is the reason you will find the difference of Premium for the same age, SA and tenure.

MORTALITY TABLE: Mortality table shows the probability of living or dying at any given age. With this table insurance company can assume probability of death for any particular age. Insurance companies construct these tables based on census data which includes birth and death rates and on their own experience or based on industry experience. Below is the sample of Mortality Table. Rate of below mortality is per 1000 people.

Age Male Female
10 0.760 0.700
20 1.850 1.120
30 1.750 1.500
40 3.000 2.310
50 6.800 5.400
60 17.190 9.470
70 38.460 24.110
80 96.120 66.790

From the above table I will show you the simple way how premium can be calculated.  Suppose insurance company need to issue 1,00,000 polices for the age group of 10 yr old female. Then from the above table you can notice that for each 1,000 people of the age group of 10 yr female, probability of loosing life is 0.70. So for 1,00,000 people probability of  loosing life is 70 (1,00,000*0.70/1,000). Suppose all 1,00,000 policies are insured for Sum Assured of 1,00,000 then they need to pay for death claim of 70 people is Rs. 70,00,000 (1,00,000*70). What they will do is, they will collect this 70,00,000 from the 1,00,000 insured persons. So pure premium will be Rs.70 for those 1,00,000 insured female lives of age group 10.

Now you may ask by reviewing the above sample mortality table that, how the insurance premium is fixed for the whole tenure of policy when in Mortality Table for each age group probability of death is different. What they will do is, during the initial period of your Insurance they will build up the reserve as probability of loosing life is low and use that amount in later years.

MORBIDITY TABLE: It is the table which shows the probability of male or female life either contracting a critical illness or disability at any given age.

So from using above two tables insurers usually construct the premium for your life insurance. Other things that may affect your premium are rider you opt during purchasing policies and underwirter’s decision.

Hope I made it as simple as possible for you to understand the basic knowledge about Premium Calculation of your Life Insurance.

Part Time Advisers-Effect on your Investments

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BasuNivesh now available in it’s own domain from 22nd June 2012.

Previous week I came across two of my new clients portfolio for revision. They invested heavily in the products called Equity Mutual Funds and ULIPs. Both the investments are on the advise given by close adviser of them. But when you look at the current situation of portfolios they look pathetic in terms of returns. When I told the same about under performance of their portfolio and why the review not done, their first reaction is “adviser not in contact”.

Now let us look at the changes happened in Mutual Fund and ULIPs segment over the few years. Before existence of entry load, you might have found lot of advisers who are recommending you the best products on earth (according to them at that time) called Equity Mutual Funds and ELSS. They might have showed you the returns what funds generated. Even if I am in my those two clients  position, I might have did the same thing what they did-INVESTING. But after the abolition of entry load, lot of advisers left the Mutual Fund industry as they did not find it lucrative to continue the business.

Effect- 1) Those advisers might have registered the SIPs for longer tenure like 10 yrs to 15 yrs and you may be still continuing those SIPs without knowing what to do.

2) Funds which they showed as the best performing funds may be under performing now.

So overall effect on your investment looks negative in major cases (Especially ELSS). Reason is, portfolio review which is a must thing for any investment not done on regular basis.

Now let us look at the products called ULIPs. These products were sold few years back as hot cakes to investors. Advisers (especially private insurance) told these products are panacea for all your financial and insurance needs. But once regulatory effect came into effect relating to advisers commission structure and overall expenses, suddenly for few advisers these products became non lucrative in terms of their earning. For ULIPs, I am not blaming the advisers non-revision as sole reason for under performance. Because costs of ULIPs and how that particular product did over the period too effects. But atleast he might have saved his clients to the some extent.

Effect-1)They never look back to the clients whom they sold these products and never recommended any switch over to funds also. Atleast by process of switch over they might have protected the investors money.

2) You may be still paying the premiums for those ULIPs in the confusion of what to do.

So overall the effect on your investment is heavy but you cant blame none. Because adviser who sold you might left the industry already in search of any other profession which is lucrative than mutual fund and ULIPs (Now they may be selling you traditional plans instead of ULIPs !!!). Hence the important message I want to give to investors is “When you are choosing the products for your investments take the same caution towards your advisers profile too as you are taking towards the products you are investing“. Happy Investing !!!

Child education-How well are you prepared?

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BasuNivesh now available in it’s own domain from 22nd June 2012.

Recently I came across news article about IIM fees for coming educational year. Shocking news is, fees of IIM tripled in just 3 years. So what will be condition of future if the same thing continue? Reason they are putting is “Cost of Infrastructure” and “Quota Reservations”.

Now let us look which reasons of the above two may have the power to reduce the fees in future? 🙂 I think both will grow in the same rate in future also. Then what is the solution to be ready for such steep hike in educational cost?

Need is to prepare well for the future education cost of your child with proper financial planning. But how one need to invest and choose, as currently each adviser is ready to sell the child educational related products? First thing you need to consider is the “Education Inflation” rate. If you consider above IIM fees rates then Education Inflation will be 44% !!! Then so many people may ask is it worth to consider this inflation rate? According to me fare rate is 10% to  15%.

Next thing is choosing the asset class which will generate such a high return in longer run. Solution left out is Equity and Real Estate. I think apart from these two no other asset class generated the return of 15% or more in longer run. Hence your major investment should be in these two classes. But drawbacks with Real Estate investment are- need huge money if you are not ready to go for loan and liquidity issue. It is very toughest thing to liquidate it when need cash. Hence left out option is Equity. But if you are not fully comfortable with equity then better to diversify it in between Equity and Real Estate according to your comfort and risk appetite.

If you are expert in investing directly into equity then it is best option. But you need to be expert and time to track that. Else the option left out is Equity Oriented Mutual Funds. Hence in my view to generate the good amount for your child’s education you must have a major portion of your portfolio in equity.

But never ever go with the product called “Child Insurance” reasons for that, i explained in my previous post in Categories of Insurance. Hope you understood the seriousness of your child’s educational planning. Happy Investing !!! 🙂

IT Return filing changes (1st April 2012)

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BasuNivesh now available in it’s own domain from 22nd June 2012.

Recently IT Department issued some changes related to IT Return submission effective from this FY. Let us look at the changes.

1) An individual or Hindu Undivided Family (HUF), if his or its total income, or the total income in respect of which he is or it is assessable under the act during the previous year, exceeds Rs.10,00,000, shall furnish the return for the assessment year 2012-13 and subsequent assessment years only through e-Return or electronic return format.

2) A resident Individual or a resident Hindu Undivided Family (HUF) shall furnish the return for the assessment year 2012-13 and subsequent assessment years only through e-Return or electronic return format, if he/it has-

a) Assets (including financial interest in any entity) located outside India or

b) Signing authority in any account located outside India.

3) The prescribed ITR Form SAHAJ – ITR1 (Form used by individual to file IT return if income derived from-Salary/Pension, Income from one house property and  income from other sources but excludes where income from house property brought forward from previous year, winning from lottery and income from race horse) cannot be used by a resident Individual to file his return of income, if he has

a) Assets (including financial interest in any entity) located outside India or

b) Signing authority in any account located outside India.

4) Form SUGAM-ITR 4S (Form used by individual or HUF to file IT return if income derived from-business income and such income is computed in accordance with special provisions referred to in section 44AD and section 44AE of the Act, Salary/Pension, Income from one house property and  income from other sources but excludes where income from house property brought forward from previous year, winning from lottery and income from race horse) cannot be used by a resident Individual or Hindu Undivided Family (HUF) to file his/it’s return of income, if he/it has

a) Assets (including financial interest in any entity) located outside India or

b) Signing authority in any account located outside India.

For further clarification of above changes you visit below link of IT Dept too.

NASSCOM’s Techie Health Plan

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BasuNivesh now available in it’s own domain from 22nd June 2012.

NASSCOM  tied up with Oriental Insurance to provide health cover to the people who are working in IT Sector. Let us look at it’s features. I expressed my views also on each feature.

1) Insurance cover is upto Rs.3,00,000-Looks bit low

2) It covers Self, Spouse and Children (Only 2 children and upto 21yrs of age)-Good that children maximum coverage age is 21 yrs.

3) Plan varies according to size of the employee company have- Need to have uniformity instead of based on strength of company.

4) Cost of insurance will not be borne by Employee- Bumper offer to employees 🙂

5) But if they want higher risk cover or want to include other family members like parents and in-laws then they need to pay the additional premium-In-laws inclusion is a best feature.

6) Depending on the plan from 3 to 7 members can be covered under this plan-I think it is enough.

7) Major plus point of this plan is, it covers pre-existing diseases, maternity (upto Rs.50,000) and new borns  (from day one) too which is very difficult to find in the existing Insurance plans currently offered in market-Looks nice about pre-existing diseases, maternity and new borns.

8) Presently over 200 companies committed to join this plan-Need more penetration. Let us wait and watch.

9) Coverage will be from date of inception or DOJ.

10) In this plan their is no waiting period-Best option, usually waiting period will be condition for insurance plans available in market.

11) Parents covered upto 80yrs of age-Enough, but need to add life time is best. Because Indian Life Expectancy ratio is raising.

12) Co-pay of 10% on parent claims. No co-pay for employee, spouse and kids-Wow !!!

13) Terrorism is covered-Once again best option of the plan.

14) Flexibility to cover spouse midterm in case of marriage and for parents/in-laws too-Special in terms of including in-laws.

15) Medimanage is the TPA for this plan. Let us see how they will perform.
These are the few points available as of now about the Techie Health Plan. In plain it looks attractive. But let us look how industry too will respond to it 🙂

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