Given that these tools are very expensive, it isn’t surprising that most of us will only be able to afford one tool at a time. To learn more about this process, check out this video on Milling Lumber. The jointer is used to flatten one face and square up one edge and the planer is then used to make the second face flat and parallel to the first. Most woodworkers know that you need both a planer and a jointer to get the most out of rough lumber (at least for power tool users). If you were going to choose between a planer and jointer, which one would come first? – Doug I only have the money to buy one tool at a time with months in between purchases. These may give you negative inflation adjusted returns.I recently received an email from Doug who asked a very good question concerning some major power tool purchases. When you are investing for long-term, would you like to get decent inflation adjusted returns or not? Your endowment or money-back plans are low-yielding investments. Erosion of wealth : Life insurance policies are long-term contracts.Also, if you are opting for the new tax regime, note that you can not claim tax deductions u/s 80c. Kindly note that Tax saving is an additional benefit and should not be THE deciding factor when buying an insurance policy. Tax saving is an additional benefit : Insurance is primarily for Protection and not for saving Taxes.You can consider taking an online Term plan to get an adequate life insurance cover. If you are buying an Endowment plan or money-back policy for life cover then kindly note that you are paying a very high premium for a low life cover. Life Insurance Cover : The premium rates on Traditional plans are much higher than the term insurance plans.Else, you have plethora of investment avenues to consider. So, if you are happy with 6% (long-term) returns on your investment (with almost no risk factor & tax-free income), you can consider investing in these kind of plans. Also, note that we have assumed a high LA rate in the above calculation. But, the interest rate cycle can move upwards over the next few years and this kind of return may look very low at that time. Returns : As per the above calculations the IRR is around 6.5% which may look attractive given the current low-interest rate scenario that we are in.Kindly consider the below points before investing in LIC’s latest plan – Bachat Plus plan Eligibility Conditions under LIC Bachat Plus Policyīelow are the basic eligibility conditions of Bachat Plus Plan Minimum Sum Assuredġ0 – 16 yrs for 41 to 44 yrs age under Option Aĩ0 days for Option 1 & 40 yrs for Option 2Ħ0 yrs for Option 1 & 65 yrs for Option 2ħ5 yrs for Option 1 & 80 yrs for Option 2 Sum Assured on Death+Loyalty Addition is payable to the nominee/beneficiary. If death occurs after the commencement of risk, then LIC will pay the nominee Sum Assured on Death.ī) Death after 5 years but before the maturity. If death occurs before the commencement of risk, LIC will refund the premium without any interest. The Death benefit that is payable under this policy is as below:. The Policyholder can opt for death benefit payment as lump-sum payment (or) installments for 5 yrs, 10 years or 15 years. The benefits are presented in the below table The quantum of premium and benefits will vary based on the option you choose here. Here, the sum assured on death benefits is dependent on the type of Premium payment modes i.e., Single premium or Limited Premium. Death Benefit under Bachat Plus Plan no 861 :.The maturity benefits can be received lump-sum (or) in installments of 5 yrs, 10 years or 15 years. ( Related article : What is Bonus or Loyalty Addition in LIC Policy?) Kindly note that LA is not payable if you convert your policy to paid up. Here, sum assured at maturity means basic sum assured. If the Life Assured survives till the maturity of the policy, he/she will receive Sum Assured at maturity and Loyalty Addition (LA) is payable. Related Article : Different types of Traditional Life Insurance Plans | Which one should you buy? Benefits under LIC Bachat Plus Planīelow are the maturity and death benefits under Bachat Plus Policy If you are unsure on which type of life insurance policy to buy, kindly go through the below article This new plan is available for sale through online as well as offline modes, for a maximum period of 180 days from the launch date. Under this plan, the premium can be paid either as Lumpsum (Single Premium) or as Limited Premium with a Premium Payment Term of 5 years. The Policy shall participate in the profits in the form of Loyalty Additions.
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