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LIC Nivesh Plus Plan No 849 – Single Premium ULIP – Review

Life Insurance

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March 4, 2020

LIC Nivesh Plus Plan No 849 – Single Premium ULIP – Review

LIC Nivesh Plus Plan No 849 is a single premium ULIP plan by LIC. LIC Nivesh Plus provides four different fund options for the investment. It is a unit linked, non-participating, single premium life insurance policy. In short, Nivesh Plus is an insurance cum investment policy. In addition to LIC Nivesh Plus, LIC has also launched another product called as SIIP Plan 852.

Like every year, this year also LIC has launched new plans in March month. This is to attract customers who are mainly looking for a last-minute tax-saving instrument. In this post, we will take a look at LIC Nivesh Plus Plan No 849, key features, options, benefits and other facts about this plan. In the end, we will also review LIC Nivesh Plus Plan to decide is it good for investment or not?

Also Read – Top 7 Best LIC Policy for 2019 – 2020

LIC Nivesh Plus Plan No 849 – Key Features & Eligibility

Nivesh Plus is a single premium ULIP plan. This plan provides tax benefits. As it is a one-time payment plan it is a hassle-free investment option.
You can invest with a lum sump small amount of 1 Lakh. There is no upper limit for investment.
This plan provides four different fund options – Bond, Secured, Balanced and Growth.
You can switch freely between these fund options. The switching is allowed four times in a year.
You can partially withdraw money after 5th year onwards.
This plan provides life cover options. One can select sum assured of 10 times of single premium or 1.25 times of the single premium. If your intention is pure investment you can go for 1.25 times cover. Whereas if you want insurance with tax benefits you can go with 10 times cover.
At the policy maturity, you will get the Unit fund value.
This plan provides guaranteed additions in addition to the unit fund value.

Eligibility

Minimum Entry Age – 90 days

Maximum Entry Age -35 years to 70 years as per life cover selection.

Minimum Maturity Age – 18 years

Maximum Maturity Age – 50 years to 85 years

Policy Term

Option 1: If Basic Sum Assured is 1.25 times of Single Premium	Option 2: If Basic Sum Assured is 10 times of Single Premium
	For age at Entry up to 25 Years	For Age at entry 26 to 30 Years	For age at entry 31 to 35 years
10 to 25 years	10 to 25 Years	10 to 20 Year	10 Years

Nivesh Plus Plan Fund Options

LIC Nivesh Plus Plan provides four different fund options.

Bond Fund – Bond Fund is suitable of the low risk investor. It is relatively safe option where money is invested in fixed income securities. This fund invests 60% of amount in government guaranteed securities and 40% in money market instruments. Equity investment is NIL.

Secured Fund – Secured Fund is suitable for lower or medium risk investor. This option is expected to provide steady income. In secured fund 45-85% money is invested in fixed income instrument, 0-40% in money market instrument and 15-55% is invested in equity.

Balanced Fund – Balance Fund is for medium risk investor. This fund provides balance income and growth to the investor. In balance fund 30-70% money is invested in fixed income instrument, 0-40% in money market instrument and 30-70% is invested in equity.

Growth Fund – Growth Fund is for high risk investor. This fund is intended to provide long term capital growth to the investor. In growth fund 20-60% money is invested in fixed income instrument, 0-40% in money market instrument and 40-80% is invested in equity.

Investor has option to select and switch between these funds throughout policy term.

LIC Nivesh Plus Benefits

Maturity Benefit – On the maturity of plan, you will get unit fund value. The amount will be based on NAV on that date.

Death Benefit – On the death of policy holder during policy term, you will get sum assured as opted while purchasing the policy.

Nivesh Plus Charges

You need to pay following charges when you purchase LIC Nivesh Plus policy.

Fund Management Charges – This charges are applicable for the management of fund. This charges are levied at the time of computation of NAV on daily basis.

Fund	Charge applicable
Bond Fund, Secured Fund, Balanced Fund, Growth Fund	1.35% of unit fund per year
Discontinued Policy Fund	0.50% of unit fund per year

Morality Charges – You need to pay additional amount for the insurance cover that is known as morality charges. This amount is taken at the beginning of buying a policy. The morality charges depend upon sum assured and the unit fund value.

Premium Allocation Charges – Under this ULIP plan you need to pay premium allocation charges. The charges will be reduced from your premium amount and remaining amount is used for buying units. The allocation charges for online policy is 1.5% and for offline it is 3.3%.

Discontinuance Charges – You also need to pay discontinuance charges if you don’t want to continue this policy. This charges are applicable up to 5 years. From the fifth year onwards no discontinuance charges applicable.

LIC Nivesh Plus Plan – Review

Now important question is should you invest in LIC Nivesh Plus Plan or not? After going through policy detail one can easily figure out following positive and negative points.

LIC Nivesh Plus Plan – Positive & Negatives
Positives	Negatives
(1) Single Premium Policy	(1) Overall charges applicable are very high
(2) Four fund option for the selection	(2) Risk is high as returns are market linked
(3) Facility to switch between funds	(3) Low sum assurance of 1.25 Times
(4) Guaranteed addition of 3-7% at specific intervals	(4) Maximum policy term for person with age above 30 years is 10 year only
	(5) Expected returns from this policy is low

From above comparison one can easily say that LIC Nivesh Plus is not a good option for the investment. History says that ULIP will offer only low returns to the investors. So, instead of selecting this policy you should invest your money in other instruments such as equity mutual funds, fixed deposit, ELSS etc.

Nivesh Plus is gimmick by LIC to attract salaried people during tax saving month. I would advice to stay away from this policy.

How to be a Successful Leader in MLM Network Marketing?

Money & Wealth

Shitanshu Kapadia

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March 3, 2020

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MLM Network Marketing is one of the best ways to generate passive income.

I recently met my friend who is about to reach the Amway Diamond level. He shared that he is earning nearly 4 Lakh per month via Amway MLM Marketing. He explained Amway Plan and showed how he has reached nearly Top-level in MLM network marketing. His education credential was average, he could reach this level only due to hard work and marketing skills.

The story of my friend to become a successful leader in MLM Network Marketing Business is exciting. I thought to capture all his thoughts, tips, tricks and ways of becoming a successful leader here. I am sure it will help all aspiring MLM network marketing people.

In MLM network marketing, empathetic leaders are often successful business people because they understand and connect with their team’s needs and motivations. This empathy fosters trust and loyalty, empowering teams to work together more effectively toward shared goals.

How to be a Successful Leader in MLM Network Marketing?

A leader is someone who creates leaders & not followers. Here are useful tips & tricks for becoming a leader in MLM.

#1 Create Vision

A leader should have a vision. So first step towards becoming successful in MLM leaders is developing a powerful vision. Once you join MLM company you should make a vision for your MLM business. The vision should be big, such as becoming emerald, diamond, double diamond etc. Your vision will keep you going even during tough times. Share your vision with a prospect, customer or team.

Also Read – Top 10 MLM & Network Marketing Companies in India

#2 Understand products and Services & Benefits

A second important step is getting a proper understanding of the products and services offered by the company. You should go through detail of every product so that you will be able to answer questions about products. Additionally, you need to understand the business model and benefits. Product knowledge has nothing to do with performance but it is mandatory for succeeding.

#3 Prepare Yourself Well

Make sure to dedicate fixed time for the MLM. Prepare yourself well. Prepare effective training material and speech for the prospects and team members. Make sure to use practical examples in your material. If possible, make use of visual graphic in your material. Start creating your network by finding prospects.

#4 Improve your communication skills and convincing power

Successful MLM leaders are always trying to get better every day. So keep educating yourself like the top MLM leaders. Communication skill is important when it comes to MLM. You should improve your communication skills and convincing power. It will help you to build a strong business.

#5 Improve your ability to train and guide

A strong team is mandatory for becoming a top MLM leader. Make yourself ready to train the team. Improve your training ability. Arrange weekly training for the down team. Take responsibility for your own business from day one.

#6 Transfer Skills

Transfer your skills to your team members. Work on creating a strong team under you. Inspire other team members to duplicate success. Give a hard target to team members. Remember if a leader gets soft, his team member becomes weak. Share with your team what really works and duplicates you will surely see positive results.

#7 Help Team Members to reach the Goal

Please remember that MLM is about connecting and working with people. So, help your team member to reach the goal. Solve their queries and help them to get started. Spend time with them. Accompany them while they arrange a meeting with new prospective team members. Don’t rely on your up line. Take responsibility to help others.

#8 Build Relation & Study what other leaders do and try to replicate the same

Build Relation with other leaders. Successful MLM leader build solid relation with other leaders. Invest your time and energy for building relation. Once you establish relation, try to learn from other leaders. Study what other leaders are doing. Meet them frequently once you learn from other successful leaders try to replicate the same. You need not reinvent the wheel.

#9 Remove Public Speaking Fear

One of the most important things you should learn for becoming a successful MLM leader is removing public speaking fear. There are many instance where you need to speak in public when move ahead with your MLM journey. Make yourself ready for the same.

#10 Find out methods to promote your MLM products

You need to find out various ways to promote your MLM products. You can host event every week at your home. Share your business success with people. Make use of technology such as WhatsApp, YouTube for promoting your business and products. Try to reach people in mass for recruiting in your team.

#11 Never Give up

Network marketing is not easy. You will not get success overnight. You need to work hard for making money via Network marketing. You may come across various situations where you end up losing your time and money. Be patient and stick with your goals. Never Give up. Build a strong pipeline that gives you very good results.

Final Thoughts

In the end, I would like to say that MLM network marketing is not rocket science. You can achieve a big success in network marketing provided you follow the tips and tricks given above.

What are your thoughts on becoming a successful MLM leader?

Please share your thought with us at info@moneyexcel.com

Top 5 Maternity Insurance Plans

Health Insurance

Shitanshu Kapadia

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February 27, 2020

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Maternity insurance policy is a special policy that covers all maternity-related costs starting for childbirth to post-delivery expenses. Maternity Insurance Plan is available as a standalone policy as well as an add-on to an existing insurance plan.

Pregnancy is one of the important periods of women’s life. Sometimes pregnancy becomes a costly affair due to medical complications. If you are not prepared you may end up spending a lot of money. So, it is important to have a Maternity Insurance plan or add on coverage that lower the burden on your pocket.

Multiple companies are offering Maternity Insurance plans in India. Most of them offer similar benefits. If you are confused about selecting maternity insurance cover, here is a post on Top 5 Maternity Insurance Plans.

What is Maternity Insurance Plans?

A maternity insurance plan is a plan that covers medical expenses incurred during pregnancy. It is generally provided as add-on or additional rider to a primary health insurance policy. This plan covers both normal delivery and cesarean delivery expenses. Some insurance policy covers this benefit by default in to the main plan. On the other hand, a few insurance companies offer it as an optional add-on or rider.

The inclusion and exclusion of the expenses are different some policy covers all expenses including pre and post-hospitalization up to 30 days.

It is advisable to go through all terms and conditions as well as exclusion detail before opting for Maternity Insurance Plan.

Also Read – Top 5 Best Health Insurance in India

Top 5 Maternity Insurance Plans

#1 Maternity Insurance Plan JOY – Religare

JOY by Religare is a pure maternity insurance plan.JOY covers pregnant ladies as well as a newborn baby for health-related expenses. In addition to health-related expenses, it also covers the medical bills of a newborn baby up to 90 days from the date of birth. Key features of JOY Religare plan are given below.

A short 9 months waiting time for claiming maternity insurance.
Long term policy for 3 years.
No claim bonus with a 100% increase in sum insured.
Two plan options – Joy Today and Joy tomorrow.
Sum assured from 3 Lakh to 5 Lakh.
Post Medical hospitalization coverage up to 60 days.
Pre-medical checkup before taking policy

#2 Star Wedding Gift Health Insurance

Star Wedding Gift Health Insurance is a unique plan that provides security and health protection during pregnancy. This plan comes with newborn baby cover including congenital disorder cover. The plan also covers normal and cesarean delivery cover up to the limts. Features and associated benefits of this plan are given below.

Two options for the coverage from 3 Lakh to 5 Lakh.
Delivery expense coverage up to Rs.25000.
Newborn baby cover from Rs.50000 to 1 Lakh.
Post-delivery expenses coverage up to hospitalization expense coverage.
The policy is offered up to 2 years.
Pre and Post hospitalization coverage benefits.
Cashless hospitalization wherever possible.

#3 Easy Health Family Floater by HDFC Argo

Easy Health is a family floater plan by HDFC Argo (earlier known as Apollo Munich). It is a comprehensive plan that covers multiple types of health-related issues. This plan comes with a critical illness rider. This plan also covers maternity-related expenses. The features and benefits of this plan are given below.

This plan provides complete coverage with 100% life long renewal.
Easy Health Family Floater covers maternity benefits including regular checkups from qualified doctors.
Any hospitalization benefit coverage for newborn baby up to 90 days after birth.
The plan comes with a cumlative bonus of 10% for every claim-free year.
You can take critical illness rider under this plan.
It also covers AYUSH (Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homeopathy) related expenses.

#4 Heart Beat Family Floater by Max Bupa

Heart Beat Family Floater plan by Max Bupa provides complete coverage up 1Cr. This plan comes with Gold and Platinum variants. The plan also covers international hospitalization coverage and newborn maternity benefits. The features of this plan are given below.

The plan covers maternity benefits up to two deliveries.
The coverage offers is up to 2 consecutive years.
The newborn baby will be covered as an insured person from birth without additional premium, till the policy year-end.
The plan also provides vaccination expenses of the newborn baby for the first year if you add the baby in the policy for the next policy year.
The plan offers a facility of optional critical riders such as critical illness cover, e-consultation, premium waiver, etc.
No limit on hospital room rent up to plan coverage amount.

#5 Royal Sundaram Total Health Plus

Royal Sundaram also offers a policy that covers maternity expenses. The plan name is Total health plus. The coverage limit in case of maternity expenses is slightly lower. Features of Total health plus are given below.

Maternity Benefit Cover up to 10% of the Sum Insured subject to a maximum of Rs. 30000 & Rs.50000 under different plan option.
The plan is applicable to the first two deliveries.
The plan covers pre & post hospitalization expenses up to 60 days.
OPD treatment cost is also covered under this plan up to a specific limit.
Some pre-existing diseases are not covered under this plan.
A waiting period for a few diseases is from 12 months to 36 months.

Few Important Points to consider while buying a maternity insurance policy

Make sure to compare the premium amount before buying a policy.
Please note that the premium payable on a maternity insurance policy is higher than a regular health plan as a claim under this policy is absolute.
Once you grow older premiums of these types of insurance increase further thus it is advisable to buy this policy at an early age.
Remember to look at the waiting period before buying the policy.
Instead of buying separate maternity insurance you should go for a full health insurance family floater plan.
Go for riders in case it is required.
Go through the major exclusions in the policy before buying.
Please check for the co-pay terms and conditions before buying a health insurance plan.

10 Secretes of Radhakishan Damani Success as Entrepreneur

Money & Wealth

Shitanshu Kapadia

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February 25, 2020

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Radakishan Damani, 67, is one of the most successful stock market investors and businessmen. Radhakishan is the founder of the biggest retail chain of India Avenue Supermarkets.

He has become India’s second-richest person in 2020 with a net worth of $17.8 billion, after Mukesh Ambani. To become the richest person Radhakishan Damani has played multiple roles such as a stock market investor, stock broker, traders, businessman and founder of D-Mart.

It took 18 years for Damani to become the second richest person in India. He is holding 79.2% shares of Avenue Supermarket (D-Mart). He is known as Mr.White & White. He is a role model for many people. He is Guru and Mentor for India’s biggest stock market investor – Rakesh Jhunjhunwala.

A story of Radhakishan Damani as a stock market investor is very inspiring. If you want to look at his stock portfolio, you can go through my previous article – Radhakishan Damani Stock Portfolio.

You must agree that India has so many successful businessmen but none of the businessmen has distinguished qualities like R K Damani. I tried to find out how Damani has become successful as a stock market investor and businessmen. With close observations I could locate following 10 secretes of Radhakishan Damani successful investor and one of the richest person of India.

Rakesh Jhunjhunwala Stocks for Long Term investments

10 Secretes of Radhakishan Damani Success as Entrepreneur

#1 Firm belief on own Business

R K Damani carries a firm belief in his own business. He has highest promoters holding in his own company Avenue Super Market. He believes in himself. Here is promoter holding details of various holders in biggest companies in India. Due to his highest promoter holding he has become second richest person of India.

Name of Promoter	Company Name	Holding %
R K Damani	Avenue Super Market	79.2%
Gautam Adani	Adani Enterprise	74.9%
A M Naik	L&T Infotech	74.8%
Tata Sons	TCS	72%
Shekhar Bajaj	Bajaj Electricals	62.7%
Mukesh Ambani	RIL	50%

#2 Long Term Vision

Radhakishan Damani is visionary entrepreneur. He carries this quality since stock market days. He retains same approach while building a D-Mart. While building biggest retail chain of India, D-Mart (Avenue Supermarket) he prefer to purchase own property for building a store rather than taking it on rent. If property is taken on the rent lease period would be 30 years or above. This could help him in big rental outgo (in turn increasing profitability of business)

#3 Buy in Wholesale (low price), sell in retail (high discount)

Buy in wholesale at low price & sell in retail with high discount is main principal of Damani for D-Mart. As his company is buying things in bulk principal cost is low. Due to low cost company can offer more discount to his customer. Due to high discount more customer gets attracted to store. The store operates of B2C model which eliminates middlemen which helps company to sell goods at lower price.

#4 Store for Middle Class Family

The D-Mart store is popular as store for the middle class family. The preferred area for the store is middle class area where property price is very low. The products available in the store is general purpose product, house hold products and area specific products. Big discount attracts common man for buying household products.

#5 Vendor Relations

Maintaining vendor relations is next secrete of D-Mart success. Damani begun with buying a franchise of Apna Bazar. From the beginning he started building relations with vendors and suppliers. He values both suppliers and vendors. His vendors support him like anything. That’s the reason store of D-Mart never go out of stock.

#6 Vendor Payment Terms

Fast payment to vendor is another secrete behind success of Damani’s venture D-Mart. In general vendor payment condition is 30 to 60 days. However, he adopted aggressive payment terms of 11 days. The faster vendor payment helps company to get things at lower price.

#7 Successful Copy of WallMart Model

Radhakishan Damani has successfully copied WallMart Business model. In order to under WallMart business, he visited USA many times. WallMart is successful due to Every Day Low Price Every Day Low Cost strategy. This strategy increases both sales and customer loyalty. The similar strategy is successfully adopted by Damani in D-Mart. In order to implement this strategy company works constantly on the minimizing operating costs.

#8 Local Supply Instead of Supply Chain

Although D-Mart is successful grocery retail chain of the country. Still store scope is confined to western states. The company relies on the local supply instead of spending money on logistic and supply chain.

#9 Low Number of Store and Focus

Radhakishna Damani’s next secrete sauce would appear to be focus. Avenue super market that operate super market retail chain D-Mart opens only small number of stores. By 2020 company holds only 196 Store all over India. On the other hand, reliance retail has 10901 store and Future retail has 2000 stores. The less number of stores provide focus. Additionally, focus is placed to make store as pure food and grocery store instead of adopting multiple other formats.

#10 Volume Business

Volume business is another secrete behind success of Damani’s business D-Mart. D-Mart turned out to be low-price retail store. The low price leads to footfall of customers and leads to higher sales volume. Due to higher volume more and more manufacturer wants to keep products in the D-Mart Store. They are ready to give discount which is passed on to the customers.

As per me, Radhakishan Damani is a genius who turned out to be successful businessmen with exceptional intelligence.

Do share your views on the success of Radhakishan Damani in the comment section given below.