Max Bupa’s new assured cash benefit plan supports customers with health funding for critical illness, accidental death or permanent total disability and also meets incidental expenses, such as travel, food and staying costs of the attendant/family members, that an insured will incur during hospitalisation. A policyholder can create his own guaranteed benefit plan. The customer also has the option of choosing his own sum insured for the guaranteed cash payment ranging from Rs 3 lakh to R10 lakh in case of critical illness cover, R5 lakh to Rs 25 lakh for personal accident cover and R1,000 to Rs 4,000 per day as daily cash benefit under hospital cash. The critical illness cover provides assured cash benefit equivalent to the policy cover on the diagnosis of any of 20 key critical illnesses.The personal accident cover offers coverage for accidental death or permanent total disability or accidental dismemberment.
Axis Bank-Tata AIG to offer non-life policies
Axis Bank has signed up Tata AIG General Insurance as its corporate agent for general insurance. Under the partnership, the insurance company will offer a range of general insurance solutions to Axis Bank customers through the bank’s extensive distribution network across India. The association will leverage the strengths of both companies to bring to Axis Bank customers a comprehensive suite of insurance covers designed to protect all aspects of their lives. The Axis Bank-Tata AIG partnership will offer insurance policies providing protection for a range of insurance needs, including motor, health, travel, home in retail and liability, property, etc, in commercial lines.
Goldman Sachs’ equity fund
Goldman Sachs Asset Management Company has launched an open-ended equity scheme, which reopens for continuous subscription and redemption before November 2012. The scheme aims to generate long-term capital growth from an actively managed portfolio, primarily of equity and equity-related securities. The scheme will be benchmarked to the S&P CNX 500 index and the face value of each unit is R10. The scheme has two options — growth and dividend. The dividend option has two sub options — dividend payout and dividend reinvestment.
ICICI Prudential’s Dynamic Plan
Ten years since its inception in October 2002, ICICI Prudential's Dynamic Plan has given a return of 27.52% Cagr. The open-ended diversified equity fund that aims at capitalising on market volatility has outperformed its benchmark S&P CNX Nifty, which has given a Cagr return of 19.75% since October 2002. The valuation of investment as on September 30, 2012, for R10,000 invested in October 31, 2002, is R1,11,424,10. The fund, managed by Sankaran Naren, increases the equity participation when the markets go down and vice versa. The fund focuses on investing across sectors based on valuation attractiveness and growth potential, and is a suitable investment solution for long-term equity investors through capitalising on volatility and facilitating wealth creation.
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