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Posted on: 2011-07-28 18:04:10

Life insuranceinsurance provider Birla Sun life insurance has unveiled its two new products- Birla Sun Life Protector and Birla Sun Life Protector Plus. The insurance sector companies are increasingly putting focus on traditional endowment and term-insurance plans.

Both Birla Sun Life Protector and Birla Sun Life Protector Plus are purely terms plans. They offer no maturity benefit to the policyholder if he survives the term. The plans are quite cheap. They may not offer any investment purpose but they serve the basic promise of a life insurance plan- providing for the insured's family financially. One plan Birla Sun Life Protector provides cover of between Rs 5 lakh and Rs 49, 99, 999, while Protector Plus offers cover of above this amount. Interestingly there is no upper limit on the sum assured under Protector Plus, and it depends on the company's underwriting guidelines. Customers can choose between policy tenures of between 5 and 30 years.

In Birla Sun Life Protector plan, 1 35-year-old male will have to pay an annual premium of Rs 4, 920 for a Rs 20-lakh sum assured for a 20-year tenure. On the other hand, a woman has to pay a premium of 4, 170 for the same cover. According to terms of Protector Plus, a 35-year-old male has to pay an annual premium of Rs. 16, 900 for a cover of Rs. 1 crore.  On the other hand, a woman has to pay Rs 13, 850 as an annual premium for the same cover.

Posted on: 2011-07-28 18:00:18

Education loanSoon you will able to secure an education loan easily. In spite of the rising defaults on education loans, The Government has instructed banks to offer increased share of such loans in their portfolios.

After the govt instruction it is seen that banks are willing to offer more education loan to families, and they have even increased the credit tenure. They also have decided to fund more than one person per family for loans up to 4 lakh. As of now, to avoid risk, banks don't give loans to more than one member of a family. Currently, banks do not want any collateral on education loans up to 4 lakh, but look for joint application and collateral, when someone applied for education loan of above 4 lakh.

Posted on: 2011-07-28 17:56:55


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