Blog

LIC New Tech Term Plan – LIC Term Plan Review

Life Insurance

-

November 28, 2022

LIC has launched LIC New Tech Term Plan (Table 954). The earlier launched tech term plan by LIC is now closed. LIC’s New Tech-Term is a Non-Linked, Non-participating, Individual, Pure Risk Premium Life Insurance Plan.

LIC New Tech Term plan is an online-only plan you can purchase from LIC’s website. You must be keen to know the difference between the old tech term plan and LIC’s New Tech Term Plan. So, here is a complete post about key features, eligibility, benefits, and a review of LIC’s New Tech Term Plan.

Key Features of LIC New Tech Term Plan

LIC New Tech Tem is a pure Online Term Life Insurance Plan.
The minimum Sum assured for this plan is 50 Lakh with no upper limit on Sum assured.
Flexibility to choose from two benefit options: Level Sum Assured and Increasing Sum Assured.
Flexibility to choose from Single Premium, Regular Premium, and Limited Premium Payment
Choose the Policy Term/Premium Paying Term
Opt for payment of benefits in installments.
Special rates for women.
The benefit of an attractive High Sum Assured Rebate.
Two categories of premium rates namely (1) Non-Smoker rates and (2) Smoker rates.
Option to enhance coverage by opting for Accident Benefit Rider on payment of additional premium for the rider benefit.

Benefits payable under an in-force policy shall be as under

#1 Death Benefit

The death benefit payable on the death of the life assured during the policy term after the date of commencement of risk but before the date of maturity provided the policy is in force and the claim is admissible shall be “Sum Assured on Death”.

For Regular premium and Limited premium payment policies, “Sum Assured on Death” is defined as the highest of:

7 times of Annualised Premium; or
105% of “Total Premiums Paid” up to the date of death; or
Absolute amount assured to be paid on death. For a Single premium policy, “Sum Assured on Death” is defined as the higher of:
125% of Single Premium.
Absolute amount assured to be paid on death.

Where,

i. “Annualized Premium” shall be the premium payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums, and loadings for modal premiums, if any, and

ii. “Total Premiums Paid” means the total of all the premiums received, excluding any extra premium, any rider premium, and taxes.

iii. Absolute amount assured to be paid on death shall depend on the Death Benefit Option chosen at the time of taking this policy and is as under:

Option I: Level Sum Assured

The absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured, which shall remain the same throughout the policy term.

Option II: Increasing Sum Assured

The absolute amount assured to be paid on death shall remain equal to the Basic Sum Assured till the completion of the fifth policy year. Thereafter, it increases by 10% of the Basic Sum Assured each year from the sixth policy year till the fifteenth policy year till it becomes twice the Basic Sum Assured. This increase will continue under an in-force policy till the end of the policy term; or till the Date of Death; or till the fifteenth policy year, whichever is earlier. From the sixteenth policy year and onwards, the Absolute amount assured to be paid on death remains constant i.e. twice the Basic Sum Assured till the policy term ends. For example, the Absolute amount assured to be paid on death under a policy with a Basic Sum Assured of Rs. X will be Rs. X till the end of the fifth policy year, Rs. 1.1X during the sixth policy year, 1.2X during the seventh policy year, increasing so on by 10% of the Basic Sum Assured each year till it becomes 2X in the fifteenth policy year. From the sixteenth policy year and onwards, the Absolute amount assured to be paid on death will be 2X.

The Death Benefit Option once chosen cannot be changed later.

#2 Maturity Benefit:

On survival of the life assured to the end of the policy term, no maturity benefit is payable.

Eligibility

a) Minimum Age at entry: 18 years (Last Birthday)

b) Maximum Age at entry: 65 years (Last Birthday)

c) Maximum Age at Maturity: 80 years (Last Birthday)

d) Minimum Basic Sum Assured: Rs. 50,00,000/-

e) Maximum Basic Sum Assured: No Limit*

The Basic Sum Assured shall be in multiples of Rs. 5,00,000/-, if the Basic Sum Assured for the policy is Rs. 50,00,000/- to Rs. 75,00,000/-. Rs. 25,00,000/-, if the Basic Sum Assured for the policy is above Rs. 75,00,000/-.

f) Policy Term: 10 to 40 years

g) Premium Paying Term

Regular Premium – Same as policy term

Limited Premium –

[Policy Term minus 5] years for Policy Term [10 to 40] years
[Policy Term minus 10] years for Policy Term [15 to 40] years

Single Premium – NA

LIC New Tech Term Plan – LIC Term Plan Review

LIC New Tech Term Plan is a pure term plan where the minimum sum assured value is 50 Lakh. It is a very good product by LIC. As it is an online term plan it can be purchased with a click of a button without intervention from LIC Agent.

This new policy is a direct copy of the LIC Tech Term Plan (Table 854). The only change is in the premium amount.

Examples of premium change in Level Sum assured for 1 Cr Plan – Nonsmoker Male are given below.

Age	Policy Term	Regular Annual Premium (Old Policy)	Regular Annual Premium (LIC New Tech Term Plan)
20	20	INR 5368	INR 7047
30	20	INR 7216	INR 9135
40	20	INR 13770	INR 17889

This means that compared to the last plan (old tech term policy) premium of the new plan is increased. The increase is nearly 25%. This means for the new plan you need to pay a 25% extra premium amount (yearly regular plan).

LIC New Tech Term Plan Premium

This premium is at par with other available term plans like ICICI Pru Term Plan. This plan provides coverage for up to 80 years. The accidental rider option and discounted rate premium for non-smokers and women are additional advantages.

You have the flexibility to select the sum assured and type of plan. You can select level sum assured as well as increasing sum assured. The increasing sum assured is a unique feature of this policy. The risk level is increasing with age & one should increase the sum assured with age. This concept is perfectly covered in this plan. One can avoid purchasing multiple insurance policies if he/she opts for an increasing the sum assured.

If you have not purchased any term plan you can go for LIC New Tech Term Plan.

60 Seconds Binary Options Strategy

Stock Market

Shitanshu Kapadia

-

November 26, 2022

0

People often wonder if they can make money from short-term trading without working for a big investment house or trading firm. And the answer is yes. Even though there are a lot of risks, many people trade as a hobby or to make extra money every day. If you know what you’re doing and take steps to lower your risk, a 60 seconds binary options strategy is a great way to make money quickly.

60 Seconds Binary Options Strategy

Explanation

A binary options strategy is a list of things you should think about before making a trade. Some of these things are studying the market, looking at charts, reading the news, using indicators and signals, and so on.

Risk management and emotional control are the foundations of every strategy. These are extremely important for every binary options trader because this is a very risky market and many traders let their emotions get in the way when placing trades.

Statistics

A 60-second binary trading strategy is good for both beginners and more experienced traders but it’s just one of seven basic trading strategies that could be employed on the forex market. Even if you don’t know much, you can get fast results and make money as a beginner. Professionals tend to make more money right away because they already know a lot and can use their experience to maximize their profits.

Benefits

The short trading window’s main benefit is that you can win quickly. You can make money almost any time the price goes up or down. The shorter window also has more risk, so the returns are higher compared to, say, the day window. You can also have more than one trade going on at the same time. Not to mention, 60-second binary options are pretty easy to understand as they only have two possible outcomes: win or lose.

Strategies

Trading 60-second binary options need a careful, proactive approach. Having a solid plan in place not only makes it easier to make decisions but also makes the whole thing less stressful. Importantly, there is no one-size-fits-all strategy for trading 60-second binary options, but we have put together some of our best tips below.

Risk Management

Risk management is the core of any good strategy, and 60-second binary options trading is no different. The 1% rule is a place to start for many traders. This rule says that you shouldn’t risk more than 1% of your total portfolio on a single trade. It is used to keep losses to a minimum and make sure that traders can deal with small problems and keep trading.

Charts

Setting up your chart should be pretty simple. The best place to start is with candlestick charts. Set them to a time frame of 1 minute. You can also use 1-hour charts, but we suggest working your way down to shorter charts, which will give you the most accurate information to work with. You want a price that is low over 50 candlesticks, if possible. Make sure you mark the beginning and end of the 50-candlestick period.

Support & Resistance

Since prices tend to move toward one line or the other, support and resistance levels can help you make better predictions. They can be used to figure out where the price is likely to go next. They are a good place to start for traders of all levels, but especially those who are new to trading binary options.

Technical Indicators

As you learn more, you might want to use moving averages to help you make predictions. There are a lot of technical indicators out there that can help you predict what the price will do. As a general rule, we recommend setting up moving averages and support and resistance levels. These can make it easier to tell if the price is going up or down.

Profitability

Trading binary options can make money, just like any other type of trading. But that doesn’t mean it will always make money. There is also a chance that you will lose your initial investment if things don’t go as planned. Because of this, you shouldn’t take big risks just because you think you will win a lot of money if you do. Remember that trading binary options is a lot like gambling at a casino. You should look at it as a way to make extra money, not as a way to make a living.

Conclusion

Trading in 60-second binary options is a high-stakes game with a lot of adrenaline. You’ll need to be disciplined, stick to your plan, and know your limits if you want to do well. But while the risks are big, so are the chances of success.

Top 5 Words to Avoid in Sales

Skills & Productivity

Shitanshu Kapadia

-

November 25, 2022

0

Sales play an important role in any business. You can not grow your business without sales.

However, it is often observed that when it comes to sales and closing, we end up using words that do not allow us to sell. These words generate different types of emotions in the brain of the buyers.

So, which are those words that you need to avoid while selling?

Well, today I am going to share 5 words that I avoid in sales. Here it is.

Top 5 Words to Avoid in Sales

#1 To be honest with you

To be honest with you is the word you should avoid while selling products or services. Have you ever heard of that one before from a salesperson?

Just to be honest with you. Right, this is the best price that we could give you. To be honest with you or we never give this deal to anybody else.

Now, what happens is right after usually, to be honest with you, what you are telling the prospect is, well, all the conversation you’ve had up to this point, it’s a lie, right?

‘Cause to be honest with you, it means what?

You have not been honest with me this whole time, right?

You’ve been lying to me, is this what it is?

#2 Trust Me

Have you ever heard of that one? Just trust me on this.

Yeah, this is a great deal, just trust me, man. Trust me.

Usually, when people have to say, oh, trust me, do you trust them?

No, right?

No, because your action speaks louder than your words.

Your action would show through.

Your action would demonstrate if a prospect or someone should trust you or not.

So don’t use those words, don’t use trust me.

#3 Sorry to Bother You

Sorry to bother you. Then why the hell are you bothering me?

If you feel so sorry about it then just don’t bother me in the first place.

Sometimes I get these phone calls. Oh, you know, sir, sorry to bother you.

Then don’t call me, don’t bother me. Like, you hang up.

Why are you calling me in the first place?
Why are you bothering me in the first place?
Why are you wasting my time?

Before you do anything when it comes to closing in sales, usually the prospect has the power.

#4 Buy

Here’s another word, buy. Buy.

See, people love to buy, they hate to be sold. Even though they love to buy, they don’t like the idea of buying because the word buy means that oh, it’s gonna cost me money, right?

Like, I have to spend money, right? So we do love the action, the act of buying, but the word itself triggers oh when you have to buy something I’m gonna spend money on it.

So don’t use the word buy. Do you wanna buy this now? No.

So instead what should you say? Own. Or take this home with you.

So imagine if I’m selling you this, hey, do you wanna buy this?

I don’t know. Would you like to take this home with you?

Sure, right? I wanna take this home with me.

Would you like to own this? Oh, sure.
Would you like to take advantage of this? Oh, sure.
Would you like to move forward? Sure.

Who doesn’t like to move forward, right?

You’re moving forward in life. Oh, would you like to buy this?

I don’t know, let me think about it. It triggers a lot of resistance. It triggers fear.

#5 Individual

Another word that you wanna avoid and that is individual. Individual.

Is it individual is a very cold, institutional word. It’s very, very cold.

Oh, I know you are a busy individual.

I know you’re a very successful individual.

Do you talk to your friends that way?

Hey, do you, individual, do you wanna to watch this movie together?

Do you talk to your wife this way, individually, right?

You don’t do that. So that’s not how you talk to your friends.

That’s not how you talk to the people that you care about, right?

It’s an institutional word, it’s a very cold phrase. Don’t use it.

Use more casual, more conversational words. So eliminate an individual from your vocabulary.

Top Secret that can Make you Rich

Money & Wealth

Shitanshu Kapadia

-

November 18, 2022

0

Let’s talk about how money works. Today, I’m going to share a secret with you that guarantees you’ll be rich or you’ll be broke.

So I want you to think about how money came about.

Back then, it’s let’s say, I am a farmer and I grow vegetables in my garden, on my farm or I have some crops.

And then if I want to eat some other food and maybe you also have a farm of some sort and you have some other crop in the farm.

Back in the old days, if what we wanna do. If I wanna have some other crop, we need to trade. You’re gonna bring me the other crop and then you bring it to my farm, I’m gonna give you some vegetables in exchange.

It is a simple barter system. When you get to a point where people say, you know what? It’s kind of difficult to have everything that I want to trade with me all the time.

It’s difficult to have big items with me all the time. What can we do to just live more efficiently?

How can we make this a little bit more convenient for each other?

And people came up with the concept of money. Now back then, we’re talking about it could be like old days certain types of stones right?

And then precious metals or gold coins and things like that and now today
we’re talking about, of course, paper.

Rupees, bills, dollars, or even our digital currency. But that’s how money works.

Now, let’s talk about Top Secret that can Make you Rich.

Top Secret that can Make you Rich

You have to understand the world revolves around value. So if you understand the world revolves around value.

The business of making money is nothing more than a value and value exchange.

Once you realize that, that is how money works and that’s how the game works.

So what we do is we trade our time, if you’re an employee.

Our products or services, our expertise as an entrepreneur.

Our skills. We trade that and exchange that with other people for money.

What it means is, the more value that you could provide, the more money people are willing to trade you with it.

It’s that simple. So instead of just focusing on, I wanna make more money being all desperate and panicking, what you focus on is instead of becoming a person of success, become a person of value.

If you wanna make more money, the question you have to constantly ask yourself is how could I be a person of value?

How could I become more valuable?

How do you become more valuable to the marketplace?

Once you understand this, money is not an issue. Because the marketplace is always willing to pay good money for good value.

What’s the difference between someone making an INR 200 hour instead of someone making let’s say INR 2000 an hour as a doctor?

Someone making an hour, the marketplace is saying, hey you know what, you’re only worth INR 200 or INR 300 or INR 500 an hour, versus I’m willing to pay INR 2000 to spend an hour with a doctor.

The difference in value, not your person. Not a person, not valued as a person.

Value, the marketplace is willing to pay. And you notice, people who don’t make a lot of money, people who are struggling, or people making minimum wage, are easily replaceable.

They see someone working at a restaurant.

A waiter, waitress. Maybe they do a very good job, and they work very hard but if they leave or the boss or the manager fires them, they could be easily replaced.

When you could be easily replaced, you are not very valuable.

The more difficult you are to replace, the more valuable you are.

That’s the secret that will guarantee if you’ll be broke or you’ll be rich.

Now the next step, assuming you’re working hard, you are developing your skills, and you’re becoming more valuable in the marketplace.

What you really wanna get to is to become invaluable. Now, what do I mean by that?

Invaluable meaning, irreplaceable.

When you are invaluable in the marketplace, the marketplace will reward you handsomely because you are irreplaceable.

Let me give you some examples.

Michael Jackson. That’s invaluable because there’s only one Michael Jackson in the world.

Michael Jordan. He is invaluable because there’s only one Michael Jordan in the world and that’s why fans, of Nike are willing to spend millions and millions of dollars with one person because he’s invaluable.

Oprah.

Beyonce.

All the celebrities. There’s only one of them. There are many other singers and dancers but there’s only one Beyonce.

Being invaluable also means you are wanted, you are needed, and you’re being desired by a large group of people.

The more people who desire you, who want you, who need you, the more invaluable you are.

The more difficult it is to replace you, the more invaluable you are, and the more invaluable you are, the more money you’re gonna make, and the more wealth you can create.

So become a person of value.

That’s how money works. It is a value and value exchange.

So ask yourself, what are you willing to do to be a person of value?

To become that valuable person in the marketplace.

And then maybe, eventually become invaluable.

That is the Top secrete that can make you rich.