IndiaFirst Life initiate Moneyback Health Ulip
IndiaFirst unitlinked Life has launched a health insurance plan reimbursement, the second product on the market after LIC’s Health Plus is. It is based on the compensation plan – the insurance company to pay the costs of hospital care, unless sub-limits and other conditions. You can choose out of five fund options.
Features: Comes in individual and family plans float. The plan covers the insured float, wife, two children and two parents. The policyholder will be the “principal insured lives, and others called” afterlife assured. On the death of life “principal insured, benefits are paid and the policy ceases to exist.
The policyholder may designate a beneficiary to receive the sum insured in case of his / her death. The maximum entry age is 60 and a policyholder can not be over 70 at the end of the occupation. The maximum age of parents in the development and maturity should be 65 and 75, respectively. Children are covered up to 25 years.
Insured amount: The minimum coverage offered is Rs 1.5 lakh and Rs 5 lakh the upper limit. Option on the float, the sum insured is Rs 10 lakh.
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Coverage: Coverage maximum is only five times the annual sum assured. It is part of the medical commissions of the limits’, rent, discounts etc. ICU due date, the value of their own funds, either in a lump sum or in installments Fri selection
Premium and payment terms: you can choose one of the prizes and stay in office for five years – or regular premium option, where for 10 years. Remuneration is reviewed annually. Up to 45 years of age, at least according to a regular space is a premium of Rs 10,000, while Rs 30 000 single premium mode. If you have more than 46 years, minimum of Rs 14 200 and 37 500 Andres in regular mode in conditions of award.
TAXES: Premium allocation charges are 13% in the first year and 2% in Premium mode then normal.
Advantages: They are not willing to address their annual premiums of health insurance only as an expense and prefer to create a fund set up may find the plan attractive.
Disadvantage: The plan is more expensive than pure health policy, because the ULIP charges. Moreover, politics ends at the life insured died, leaving the responsibility unprotected.
Source: [ET]
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