Why Jeevan Shagun ? - 12 Resigns to choose Jeevan Shagun Plan
- In current market scenario, there is a huge demand for a financial product which will give tax free returns at exit means Sec 10 (10 D) compliant. Jeevan Shagun, having inbuilt features of 10 times risk coverage of single premium for entire terms of plan, eligible for income tax benefit both under Sec 80C & Sec 10 (10D).
- In last FY 2013-14, in view of provision of garnering Rs 40,000 Crores through Tax-free Bond, HNI segment lapped up this product when issued by different financial institutions. It showed there's a huge appetite in market for tax free instruments.
- In current FY budget, there's no such provision for tax free product.
- Another provision in current FY budget " Long term capital gains tax for all non-equity mutual fund schemes would apply for three years holding period instead of one year earlier @ 20% " has a major adverse impact on FMP schemes of Mutual Funds which was quite popular among HNI segment.
- Only PPF instrument available in market uptill now in current year with tax free returns at exit but with a upper limit of Rs 1.50 lakhs.
- At this juncture, Jeevan Shagun with no upper investment limit is going to fulfil the aspirations of these huge segments of upper middle class and HNI.
- In metro city like Mumbai, or a Pensioner Pradise Bhavnagar segment of the society have huge disposable income, which they want to park in instruments which can assure safety, liquidity and reasonable returns and tax free. Jeevan Shagun fulfills all above conditions.
- IRR of around 7% & 10 times risk coverage of invested amount is highly attractive in comparison to Bank FD net of tax return of 6.3% ( 9%- 30% tax ).
- Best combination of debt & term insurance
- Available for a limited period maximum 90 days
- In view of new Sec 194D wef 1/10/2014 in which provision of 2% TDS made from all life insurance policies which are not Sec 10 (10D) compliant, a new window of opportunity opened for 30 days only.
- Possibility can be explored in all Single Premium Policies which are not Sec 10 ( 10 D ) compliant & which are maturing 1/10/2014 onward for discounted claim and shifting those amount in Jeevan Shagun for next 12 years guaranteed tax free environment.