For the critically ill
Birla Sun Life has launched a policy aimed at providing coverage for critical illnesses. Called Medicare, the policy offers two options. Both provide comprehensive cover for four critical illnesses, and offer mortality benefits. The insured receives the sum assured if he contracts one of the four diseases and survives it for a month. On death, survivors receive additional benefits.
Max New York Life has launched two plans — Stepping Stones and Life Gain Plus. The former is a money-back plan aimed at parents looking to save for children’s education, while the latter is an endowment plan. Both policies offer mortality benefits. Life Gain Plus allows you to buy six riders, including one for critical illness.
LIC has re-launched its term insurance policy Anmol Jeevan with revised terms. The policy offers a minimum sum assured of Rs 5 lakh. The maximum sum assured is Rs 3 crore. The term varies from 5 to 25 years. Anyone aged 18 to 50 could buy the policy.
Indians living abroad could now invest in Indian financial assets at ease. Two mutual funds — JM Mutual Fund and Reliance Capital — are launching schemes aimed at NRIs. JM’s scheme is called JM Pravasi Bandhu Fund, while the other is called Reliance NRI Equity Scheme.