LIC launches Money plus-1 a Unit linked Endowment Plan

LIC has today launched its new Unit linked Endowment Plan - Money Plus 1 which offers dual benefits of investment and insurance. The plan offers four investment options: Bond Fund, Secured Fund, Balanced Fund, and Growth Fund. The plan has attractive features like enhanced limits for investment in the Equity market for Secured and Balanced types of funds, lower Fund Management Charges, enhanced limits for Critical Illness coverage and liberalized conditions for continuance of the policy after lapsation.

The minimum Sum Assured is five times the annualized premium and the maximum Sum Assured can go upto 30 times the annualized premium, depending on age at entry. The entry age can be between 0 to 65 years with the policy term ranging from 5 to 30 years. Premium can be paid in yearly, half yearly, quarterly or monthly( ECS ) modes and the minimum annualized premium is Rs 5000/-. There will be option to switch over from one fund to another fund with four free switches per year. The maximum cover for Critical Illness Rider Benefit will be Rs 10 lakhs.

In case the policy is lapsed, it can be revived within a period of 2 years (Revival Period), from the date of First Unpaid Premium. If the premiums have been paid for a minimum period of three years, the Life cover, Accident benefit and Critical Illness riders will continue during the Revival Period. One of the features of the plan is that a policyholder can opt for continuation of cover even beyond the Revival Period, without reviving the policy or paying any further premiums by exercising the option at least one month prior to the completion of the Revival Period. The policy cover continues by deduction of relevant charges from the policy fund till the fund value reaches one annualized premium.

A Policyholder can partially withdraw the units at any time after the third policy anniversary subject to certain conditions. On the maturity date an amount equal to the Policyholder's Fund Value is payable. In the unfortunate event of death, the nominee will be eligible to get higher of Sum Assured under the Basic Plan or the Policyholder's Fund Value provided the insurance cover is in full force .
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Inflation for week ending May 10 stays at 7.82 percent

Inflation for week ending May 10 stays at 7.82 percent vs 7.83 percent just less by .01 percent , For the week ending march 15th the inflation as been revised to 8.02 vs 6.68 percent.
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Crain India New Flash

With the success of oil and gas discovery in Barmer region, Cairn India would now explore hydrocarbons in the Hadauti region’s Kota, Baran and Jhalawar districts from June 15 onwards. The Company has received green signal from the Union government. The company’s representative visited a number of places in this area over the last month and identified a number of places where search could be conducted.


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Relience Industries updates

Reliance:- Government takes back 5 oil exploration blocks in Kerala-Konkan basin from Reliance Industries, as it failed to meet minimum work programme.

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Google Talk Online status Code for your Blog & Website pages

Here is your Google Talk online status code for your website pages and blog. U can also put this code in your html signatire also. Google Talk
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Yahoo online staus for your Blog & Website URL

Here is the code for your yahoo messanger online status code for paste in your blog and Website pages. Just Click me
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Reliance Infratel gets SEBI NOD for IPO

Reliance Telecom Hold 95% stake in Reliance Infratel.
Looking to raise 5000 to 6000 crore via 10% dilution.
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Indiabulls Real Estate Ltd acquisition

Indiabulls Real Estate Ltd has approved the acquisition of 100% ordinary shares of Dev Property Development Plc, listed on London Stock Exchange’s AIM. The Scheme is expected to become effective from May 08, 2008.

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