Revival of Lapsed LIC Policy If the policyholder forgets to pay his premium on the due date, the LIC usually offers 'days of grace' (minimum 1 month - if mode of payment is Yearly/Half-yearly/Quaterly and 15days - if the mode is monthly). However, if the premium is not paid by … [Read more...] about How to Revive Lapsed LIC Policy?
Archives for October 2012
How to Open Online FundsIndia-NPS Account?
1- Register to FundsIndia with Your Name, Mobile No., email ID 2- Log on to FundsIndia. 3- Select 'NPS' option. Enter all the details (Personal Information, Nomination Details, Scheme Preference etc; simmilar to ICICI Direct-NPS Account) 4- Now download, print and sign the … [Read more...] about How to Open Online FundsIndia-NPS Account?
How to Open New Pension Scheme (NPS) Account Online (ICICI Direct)?
ICICIdirect and FundsIndia, both offer New Pension Scheme (NPS) Account online. But both the options are not completely online, you would need to complete the paperwork (part online and part offline) and send them filled application form by post with supporting documents . So … [Read more...] about How to Open New Pension Scheme (NPS) Account Online (ICICI Direct)?
How to Calculate Return of your Annuity?
If you have bought the annuity with your pension pot of Rs. 10,00,000 and you will be are getting an Annual Annuity Payment of Rs. 2,16,315.40 for next 6 years, then you can calculate rate of return using below formula: AAP = [P x r]/[1-(1+r)^-n] Where - "AAP" is the … [Read more...] about How to Calculate Return of your Annuity?
How to Calculate your Annuity Payout?
You can use the following formula to calculate your Annual Annuity Payment (AAP): AAP = [P x r]/[1-(1+r)^-n] Where - "P" is the Principal Amount, "r" is the Periodic Interest Rate and "n" is the Total number of Payments you receive. For example, if you invest Rs. … [Read more...] about How to Calculate your Annuity Payout?
How to Open New Pension Scheme (NPS) Account?
A New Pension Scheme (NPS) account can be opened by any Indian Resident or Non Resident Indian (NRI), aged between 18 to 55 years. You can open NPS account Offline (would need to visit the nearest Point of Presence (POP) or POP Service Providers (POP-SP)) or Online (ICICI Direct, … [Read more...] about How to Open New Pension Scheme (NPS) Account?
How to Claim Tax Rebate for your Pension Contribution?
Tax Rebate to your Pension Contribution The taxman will give following tax relief (under Sections 80C, 80CCC and 80CCD) to your pension contribution. The limit for maximum deduction (As per Section 80CCE) available under Sections 80C, 80CCC, and 80CCD (combined together) is Rs. … [Read more...] about How to Claim Tax Rebate for your Pension Contribution?
All you wanted to know about New Pension Scheme (NPS)
What is New Pension Scheme (NPS)? The New Pension Scheme or NPS is a voluntary contributory pension scheme introduced by the Central Government. The NPS is administered by Pension Fund Regulatory and Development Authority (PFRDA). Under the NPS, individuals can open a personal … [Read more...] about All you wanted to know about New Pension Scheme (NPS)
Union Cabinet approves FDI hike to 49% in Pension Bill
The Union Cabinet approves FDI hike in Pension Fund Regulatory & Development Bill from 26% to 49%. Till now, 26 per cent foreign direct investment was allowed in the insurance sector while the pensions business was closed to foreign investment. Pension Fund Regulatory & … [Read more...] about Union Cabinet approves FDI hike to 49% in Pension Bill
Union Cabinet approves FDI hike to 49% in Insurance Bill
The Union Cabinet approves FDI hike in Insurance Laws (Amendment) Bill, 2008 from 26% to 49%. Insurance Laws (Amendment) Bill, 2008 Following are the major changes approved by Union Cabinet - 1- Raises Foreign Direct Investment limit in the insurance sector to 49% from … [Read more...] about Union Cabinet approves FDI hike to 49% in Insurance Bill