If you are net-savvy and can actively manage your funds, HDFC Lifes Click2Invest, a unit-linked insurance plan (Ulip), could be a game-changer for you. One has to pay a fund management charge of 1.35% of the fund value, and a mortality charge depending on the age of the policyholder and the level of the cover. Apart from these two, there are no other charges levied in this policy, usually associated with other Ulips, such as premium allocation, policy administration and policy discontinuance. The online plan comes with a bouquet of eight different investment options equity plus, equity diversified, blue chip, opportunities, balanced, income, bond and conservative funds. Policyholders will have the flexibility to switch funds four times each policy year without any charges, and subsequent switches will attract a charge of R250 per switch or just R25 if the policyholder executes it through the companys web portal. Premiums can be paid through single, quarterly, half-yearly or even monthly modes, like one does in a systematic investment plan of a mutual fund. The term of the policy ranges from 5 to 20 years for age group of 0-65 years. Partial withdrawal to meet financial emergencies are allowed after the mandatory five-year lock-in. The policyholder can revive a discontinued policy within two years from the date of discontinuance, subject to payment of dues and unpaid premium. If one surrenders before the lock-in, the insurer will move the fund value to the discontinued policy fund, and it will be paid out to the policyholder after the lock-in. However, one cannot avail any loan by pledging the policy.
Deal4loans.com launches Save EMI Calculator
Deal4loans.com, an online loan information and application portal, has launched a Save EMI Calculator. This tool is a smart way to minimise your financial outstanding and save on your current EMI by transferring it to a cheaper option available to you based on your profile. The calculator will ask for your current running loan or credit card outstanding, existing lending bank and the current running rate of interest on the loan/credit card. You can also feed in information like prepayment charges levied by the bank in case of pre-payment of loan, along with other personal and professional basic details. Once the details are shared, the tool calculates your current EMI as per the outstanding amount and maps your profile with offers running from different banks so that you can switch to another