Thursday, February 26, 2015

Apollo Munich Health Insurance - Optima Restore Individual

Optima Restore Individual

Our first of a kind Optima Restore plan offers a unique Restore benefit that automatically reinstates the basic sum insured in case you exhaust it in a policy year. Sure it sounds too good to be true but here is how it works: If you use up your coverage in an individual policy and fall ill with another illness, we will restore the entire sum insured for you to use, at no extra charge. It also rewards you with a multiplier benefit in case you don’t claim in the policy. The multiplier benefit doubles the sum insured in 2 claim free years!


We offer coverage from the age of 5 years onwards with maximum entry age of 65 years. A dependent child can be covered from the 91st day (if either parents are covered under this policy).

You and/ or your family members namely spouse, dependent children, dependent parents / parents in law are eligible for buying this cover on individual sum insured basis. (we offer a family discount of 10% if 2 or more family members are covered under the same policy)

Maximum 6 members can be added in a single policy. In an individual policy, a maximum of 4 adults and a maximum of 5 children can be included in a single policy.

Your premium at renewal may change due to a change in your age or changes in the applicable tax rate.

The policy period options include period of 1 or 2 years(s). (We offer 7.5% discount if you opt for a 2 year policy)

Plan Benefits:-

 In-Patient Hospitalisation - The medical expenses for coverage for hospitalization of more than 24 hrs with no room rent limits.

Pre-Hospitalisation - The medical expenses that you incur due to illness during 60 days immediately before you are hospitalized.

Post-Hospitalisation - The medical expenses you incur in the 180 days immediately after you are discharged from hospital.

Day-Care Procedures - The medical expenses for all day-care procedures covered, which do not require 24 hours hospitalization due to technological advancement, are covered.

Domiciliary Treatment - The treatment expenses involved in getting a treatment done at home which otherwise would need hospitalization.

Organ Donor - Treatment expenses for the organ donor at the time of organ transplant.

Daily Cash for Choosing Shared Accommodation - A lump sum amount given for selecting a shared room in a network hospital.

Emergency Ambulance - Expenses incurred if ambulance service is used on the way to hospital for hospitalization (up to Rs. 2000).

Health Check-up - A comprehensive health check-up involving a number of medical tests only once at the end of a block of two continuous policy years. (For Sum insured above 15 lacs).

Restore Benefit - Automatic re-instatement of the basic sum insured, if the basic sum insured and multiplier benefit has been exhausted during the policy year. Basic sum insured will be re-instated only once in a policy year.

E-opinion - On request of the Insured person diagnosed with a crticial illness, We will arrange for a second opinion from a medical practitioner selected by the insured person from Our panel. This benefit can be availed once in a policy year.

Other Benefits

Multiplier Benefit - You get a bonus of 50% of the basic sum insured for every claim free year accumulating up to 100%. (In the event of a claim, the bonus shall be reduced by 50% of the Basic Sum Insured at the time of renewal).

Cashless Service - You need to obtain a pre-authorization for all planned admissions atleast 48 hours prior to actual admission or regularize any ‘emergency’ admission within 24 hours post the admission. The details of the process and the documentation requirements are given in the guide-book sent along with the policy.

Sum Insured Enhancement - Sum Insured can be enhanced only at the time of renewal subject to no claim have been lodged/ paid under the policy. If the insured increases the sum insured one grid up, no fresh medicals shall be required. In cases where the sum insured increase is more than one grid up, the case shall be subject to medicals. In case of increase in the sum insured waiting period will apply afresh in relation to the amount by which the sum insured has been enhanced. However, the quantum of increase shall be at the discretion of the company.

Portability - If you are insured with some other company’s health insurance and you want to shift to us on renewal, you can. Our portability policy is customer friendly and aims to achieve the transfer of most of the accrued benefits and makes due allowances for waiting periods etc.

Tax Benefits - With the Optima Restore Individual Health Insurance Plan you can presently avail tax benefits for the premium amount under Section 80D of the Income Tax Act. (Tax benefits are subject to changes in Tax Laws)
For More details Kindly contact Apollo Munich Health Insurance Advisor:- APURV GOURAV Mob:- +919970506893

Saturday, February 21, 2015

E-Insurance Account

What is E-Insurance Account?

eIA stands for e-Insurance Account or "Electronic Insurance Account" which will safeguard the insurance policy documents of policyholders in electronic format. This e-Insurance account will facilitate the policyholder by providing access to the insurance portfolio at a click of a button through internet. IRDA has granted the Certificate of Registration to the following five entities to act as 'Insurance repositories' that are authorized to open e-Insurance Accounts:
a) M/s NSDL Database Management Limited
b) M/s Central Insurance Repository Limited
c) M/s SHCIL Projects Limited
d) M/s Karvy Insurance Repository Limited
d) M/s CAMS Repository Services Limited
Each e-Insurance Account will have a unique Account number and each account holder will be granted a unique Login ID and Password to access the electronic policies online.


An e-Insurance account holder or policyholder is required to:
a) Fill the e-Insurance account form and
b) Submit the following documents to the office of Insurance Repository or Insurance company or authorized Approved Person (AP) appointed by Insurance Repository:
1. Photo ID
2. Recent passport size photograph
3. Cancelled Cheque ( In case of ECS/NEFT services for insurance premium payment transaction) and
4. Address proof

E-Insurance account is offered 'free of cost' to the applicants.
For Any type of Financial Services, Kindly Contact:- APURV GOURAV Mob:- 9970506893.
We are dealing in Life Insurance, Helath Insurance, Group Medical Insurance, Home Loan, Personal Loan Etc. Find Us on Just Dial:- Gaurav Financial Services

Saturday, January 10, 2015

Complaint Insurance Industry- 2013-2014

Below are the list of Complaint against Life and Non Life Insurance Company in 2013-2014


For Any type of Financial Services you may call to Apurv Gourav- +919970506893

Monday, December 29, 2014

Rajiv Gandhi Equity Savings Scheme (RGESS)


Rajiv Gandhi Equity Savings Scheme, 2013 (RGESS) is a new equity tax advantage savings scheme for equity investors in India, with the stated objective of "encouraging the savings of the small investors in the domestic capital markets.” Vide notification dated December 18, 2013 the scheme has been notified by the Department of Revenue, Ministry of Finance (MOF)... It is exclusively for the first time retail investors in securities market.

The objective of the scheme is to encourage flow of savings in the financial instruments and improve the depth of the domestic capital market

  • A new section 80CCG under the Income Tax Act, 1961 on ‘Deduction in respect of investment under an equity savings scheme’ has been introduced to give tax benefits to ‘New Retail Investors’ who invest up to Rs. 50,000 in ‘Eligible Securities’ and have gross total annual income less than or equal to Rs.12 Lakhs. The investor would get a 50% deduction of the amount invested from the taxable income for that year.
  • The new retail investor may invest in one or more financial years in a block of three consecutive financial years beginning with the initial year.
  • Gains, arising of investments in RGESS, can be realized after a year. This is in contrast to all other tax saving instruments.
  • Investments are allowed to be made in instalments in the year in which the tax claims are filed.
  • Dividend payments are tax free.
  • This scheme has a long run benefit of educating the retail investment segment and thereby moving towards financial inclusivity in the country.
  • Success of this scheme can lead to transfer of assets from traditional savings instruments such as bank deposits and FDs to the capital markets, leading to diversification in retail investor portfolio and also leading to more productive "capital formation" assets.


The deduction under the Scheme will be available to a ‘new retail investor’ who complies with the conditions of the Scheme and whose gross total income for the financial year in which the investment is made under the Scheme is less than or equal to twelve lakh rupees.

The deduction under the Scheme shall be available to a new retail investor who:-

  • Is a resident individual (the benefit cannot be availed by HUF, corporate entities / trusts etc).
  • Has not opened a Demat account and has also not done any trading in the derivative segment till RGESS account opening date or the first day of the “initial year” in which he brings in the RGESS eligible investment into the account, whichever is later.
  • Has opened a Demat account and has not made any transactions in equity and /or in the derivative segment till designating such account as RGESS or the first day of the “initial year” in which he brings in the RGESS eligible investment into the account, whichever is later.
  • In case the demat account is opened as a first holder, but there are no transactions in the equity or derivative segment, then the first account holder is eligible to be a new retail investor.
  • For taking the benefits under RGESS, the new retail investor will have to submit a declaration, as in Form ‘A’, to the Depository Participant (DP) at the time of account opening or designating his existing demat account.
  • In case of joint accounts, only the first account holder will not be considered as a new retail investor. All those existing account holders other than the first demat account holder (eg. second / third account holders or other joint holders) or nominees of the existing account holders will be considered as new retail investors for the purpose of opening of a fresh RGESS account, if otherwise eligible.
  • Has gross total income for the financial year less than or equal to Rs. 12 Lakh.


A new retail investor can make investments under the Scheme in the following manner:

  • Open a demat account with a Depository Participant by providing an undertaking Revised link (Form A) that he wishes to designate his existing account or open a new account as RGESS account.
  • An investor can invest in eligible securities in one or more transactions during the year in which the deduction has to be claimed.
  • An investor can make any amount of investment in the demat account but the amount eligible for deduction, under the Scheme will not exceed fifty thousand rupees.
  • The eligible securities brought into the demat account, as declared or designated by the new retail investor, will automatically be subject to lock-in during that year, unless the new retail investor specifies otherwise and for such specification, the new retail investor will submit a declaration in Revised link Form B / Application indicating that such securities are not to be included within the above limit of investment.
  • An investor will be eligible for a deduction under subsection (1) of section 80CCG of the Act in respect of the actual amount invested in eligible securities, in the first financial year in respect of which a declaration in Revised link Form B / Application has not been made, subject to the maximum investment limit of fifty thousand rupees.
  • The investor would get under Section 80CCG of the Income Tax Act, a 50% deduction of the amount invested during the year, upto a maximum investment of Rs. 50,000 per financial year, from his/her taxable income for that year, for three consecutive assessment years.
  • An investor will be permitted a grace period of seven trading days from the end of the financial year so that the eligible securities purchased on the last trading day of the financial year also get credited in the demat account and such securities will be deemed to have been purchased in the financial year itself.
  • An investor may also keep securities other than the eligible securities in the demat account through which benefits under the Scheme are availed.
  • An investor can make investments in securities other than the eligible securities covered under the Scheme and such investments will not be subject to the conditions of the Scheme nor will they be counted for availing the benefit under the Scheme.
  • The investment under the Scheme will consist of an investment in any of the eligible securities covered under the Scheme.
  • Deductions claimed will be withdrawn if the lock-in period requirements of the investment are not complied with or any other condition of the Scheme is violated.

Tuesday, December 9, 2014

BSLI Vision LifeIncome Plan

In today's world, we try to plan for all of life's important stages and milestones keeping in mind our growing responsibilities. And, to supplement these efforts, we sometimes wish for an extra source of regular income. Introducing the BSLI Vision LifeIncome Plan, a traditional participating whole life plan that helps you to not only plan your financial goals but also realise your dreams by providing you with a steady income and whole life cover. With survival benefits payable every year from the end of the premium paying term till maturity and a life insurance benefit, this plan offers a perfect blend of income and financial protection for you and your family.

Key Features
  • 5% of the Sum Assured guaranteed plus bonus every year after premium paying term.
  • Comprehensive financial protection for your family with whole life covers to age 100.
  • Premium rebates on high Sum Assured, Annual & Semi Annual modes of payment and ECS method of payment.
  • Access to suitable Rider options for added protection, at a nominal extra cost.
  • Tax benefits under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961.

Quick view

Entry Age (age on last birthday)
1 – 60 years
Policy Term
Whole Life to Age 100
Premium Paying Term
15 to 40 years
Attained Age at end of Premium Paying Term is 18 or more
Attained Age at end of Premium Paying Term is 75 or less
Minimum Sum Assured
Rs. 200,000
Minimum Premium
Rs. 18,000
Premium Frequency
Annual, Semi-annual, Quarterly, Monthly

Benefits of BSLI Vision Life Income Plan

In the event the life insured survives to the end of the premium paying term, the policy holder will receive accrued bonuses till date. If he/she survives to the end of each subsequent policy year, he/she will be paid Income Benefit of 5.0% of Sum Assured plus bonus from current policy year.

In the event the life insured survives to the end of the policy term, the policyholder will receive the sum Assured and Terminal Bonus (if any).

Death Benefit
In the unfortunate event of the death of the life insured during the premium paying term, the sum assured plus accrued bonuses as on date of death and Terminal Bonus (if any) will be paid to the nominee. If the life insured dies after the premium paying term, the nominee will receive the Sum Assured plus bonus from current year plus Terminal Bonus (if any). Sum Assured payable on death/maturity shall never be less than 105% of total premiums paid to date (excluding any applicable rider premium and/or underwriting extras).

Additional Insurance Benefits

To enhance protection, BSLI Vision Life Income Plan offers the following riders at a nominal extra cost.
  • BSLI Accidental Death and Disability Rider (UIN: 109B018V02)
  • BSLI Critical Illness Rider (UIN: 109B019V02)
  • BSLI Surgical Care Rider (UIN: 109B015V02)
  • BSLI Hospital Care Rider (UIN: 109B016V02)
  • BSLI Waiver of Premium Rider (UIN: 109B017V02)

Please refer to detailed brochures on riders, consult your financial advisor -APURV GOURAV (+919970506893 )
Tax Benefits
As per extant tax laws, this plan offers tax benefits under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961, subject to fulfilment of the other conditions of the respective sections prescribed therein.
Note:- All Content i have taken it from BSLI Website.

Saturday, November 1, 2014

Finance Act 2014

Finance Act 2014 has introduced a new TDS provision under section�194DA in the Income Tax Act, 1961 on the insurance policies.
As per the new section (applicable from 1st October 2014), if the policy proceeds are not eligible for exemption under Section 10(10D) of the Act and your total payout value for a year exceeds
Rs 100,000, then the tax deductions will be as under:
  • At 2% (for valid PAN registered with us)
  • At 20% (for valid PAN not registered with us)
The applicable deduction will be withheld by us before releasing the payment and the same shall be deposited with Government authorities.
In case valid PAN details are not available with us, TDS certificates would not be generated from Income Tax website. Also, in the absence of PAN, TDS credit would not get reflected in Form 26AS.

Thursday, September 19, 2013

Companies Bill 2013 - Highlights

The new Companies Bill will replace the 60 year old regulations of Companies Act,1956 .The Companies Bill 2013 provides for modifying the rules and regulations that earlier governed the companies in the country. It mainly focuses on the social welfare and protection of the investors against the fraud committed. It mainly aims to bring transparency in the working of the company. As many new amendments has been made in the  Companies Bill 2013.  Some of the key highlights on the Companies Bill 2013 are:-

  • The concept of “One Person Company” has been introduced for the first time.
  • Compulsion of e-governance on all compulsory process.
  • Mandatory transfer of 2% of average net profit of preceding three years for corporate social responsibility (CSR).
  • It says about compulsory internal audit for different class of companies.
  • The tenure of appointment of auditors at annual general meeting(AGM) of company has extended to five years , instead of annual appointment /retirement(other than government company)
  • In case of listed companies 1/3rd of total no of directors must be “independent directors”
  • The Companies Bill 2013 considers manager or managing director or chief executive officer, whole time director, chief financial officer and company secretary as key “managerial personnel”.
  • It prohibits insider trading of securities.
  • The maximum no. of member for private company has increased to 200 from 50.
  • National Advisory Committee on Accounting Standards (NACAS) has been renamed has National Financial Reporting Authority (NFRA).
  • It also highlights on annual ratification of appointment of auditors.
  • There is no ceiling on no. of members/partners as to associations or partnership formed by professionals by special acts.
  • It highlights on the appointment of at least one women director in the company.
  • The companies bill redefines’ the term “subsidiary”, “control” and associate “company”.
  • Under the Companies Bill 2013   statutory   status will be conferred upon the Serious Fraud Investigation Office (SFIO).