Wednesday, 18 August 2010

ICICI Pru Life's Online Term Cover - I Protect

Dear friends, Earlier it was Aegon Religare's I- Term, the lone player in online Term cover Market but now it has a companion from the big daddy of private life insurers in India - ICICI PRU Life. The product is named as I-Protect. 

Product at a glance -

Minimum /Maximum Age at entry - 20 / 65 years

Policy Term - 10, 15, 20, 25, 30 years

Maximum age at policy expiry - 75 Years (Age completed Birthday)

Minimum Premium - 2000 Rs. (Excluding Service Tax & Education cess)

Accidental Death Benefit (Available with IProtectOption II only) - Equal to basic sum assured with maximum limit to 50L

Premium Payment term - Regular pay

Mode of Premimum Payment - Yearly only

Tax benefit - Prem. paid is eligible for Tax benefit under Section 80C of Indian Income Tax Act, 1961

Available Options - Option I Basic Life cover, Option II Basic Life Cover With Accident Death Benefit Rider

Death benefit - Option I - Basic Life Cover

Option II - Basic Life Cover + Accident Rider Sum  Assured equal to Basic Sum assured or 50L whichever is lower

Instant Life Cover - Policy 'll be issued immediately after realization of the prem. amount by the Ins. Co. for Non Medical Cases.

Maturity Benefit - Being a pure Vanilla Term Cover, there is no maturity benefit.

Offline Purchase - Yes allowed with a slightly higher prem. (To include the commission of Agent/Broker)

My take - I-Protect is a real competitor for Aegon Religare's I-Term. Actually it's better than I-Term. How here it goes - 

Max. Term - 30Y in I-Protect for 25Y in I- Term

Accident Rider - Yes for I-Protect no for I- Term

Offline Purchase - Yes for I-Protect no for I-Term

Maturity Age - 75Y for I-Protect  where as it's 65Y for I-Term

The major plus point with I-Protect, ICICI Pru Life has offices, agents, brokers, bankassurance channels in every nook & corner of India, Hence purchasing the cover online of offline is very easy as compare to Aegon Religare's limited presence.

In my view, if you are planning to purchase your first Term cover or want to increase one, go for this one.

For More info about the product click here.



Monday, 16 August 2010

How to clear name in CIBIL Report?

My name is Ritesh kumar and I requested for my CIBIL repot which I get and I found a “Written OFF” from Standard Charted Bank Credit Card for the amount of Rs 994/-.
From 2005 to 2006 I was using a SCB Manhattan Credit card then I stop using the Card around 2006 last Q, but I continually receiving statement from the bank and every time there are some charge add and till Feb. 2006 the amount where gone up to 3000/- then I write a mail to SCB customer care and get all the settlement (I have a mail from the bank). But my card was not officially close, but also, I never use that card again.
So can you please advice me what should I do now, I wanted to remove “Written OFF” from the CIBIL for me.
Please help

Ritesh Kumar

Dear Ritesh, You have following options.

1. Based upon your settlement of dues done in 2006, write to your Credit Card provider (SCB) & ask to remove your name for Written off from Cibil Report.

2. Wait for the 1 above to happen for at least 1 month or so. If nothing is happening, contact Banking Ombudsman in your area. Click here for more details on Banking ombudsman. 

3. Based upon your settlement of dues done in 2006, you may apply for loan (CAR, Home or Personal). With your application attach the copy of settlement documents. 



Life Cover may Got cheaper

Dear Friends, Please check the link below.