There are many factors to probe into when an investor chose an insurance company
The consumers as well as the investors should only focus on the insurer's financial strength and capability to meet ongoing responsibilities to its policyholders.
The fundamentals of the insurance company should be strong and should not indicate a poor investment opportunity as this might also deter growth.
Private health insurance plans may be purchased on an individual or group basis. Most group plans are offered by large employers, although some are available through voluntary associations. Individual policies are usually more expensive than group policies. Furthermore, they may have additional coverage restrictions.
Units:
Units are sold by the ‘Unit Trust of India’ which is a government body. It is very safe investment. Units earn dividends and can be sold back to the Unit Trust of India at the specified price which varies from time to time.
UTI Mutual FundSponsored by State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India, UTI Mutual Fund came into existence on 1st February 2003. UTI mutual fund's assets are managed by UTI Asset Management Company Limited (UTIAMC) which was incorporated on 14 November 2002. UTIAMC manages its offshore funds through UTI International Limited, its fully owned subsidiary.
UTI Mutual Fund Schemes
Scheme
UTI - Balanced Fund
UTI - Bond Fund
UTI - Capital Protection Oriented Scheme - 5 Years -
UTI - CCP Advantage Fund
UTI - Children Career Plan Balanced
UTI - Contra Fund
UTI - Dividend Yield Fund
UTI - Equity Fund
UTI - Equity Tax Savings Plan
UTI - Fixed Income Interval Fund ( Half Year, Annual ly & Monthly Plan – I)
UTI - Fixed Maturity Plan -
Chit Funds:
Chit funds are very old methods of saving and raising money. There are different varieties of chit funds. A person can save according to his capacity. The commonest of all is the ‘Lottery Chit’; under this scheme people contribute periodic payments of the specified amounts for certain period. Normally the ‘Promoter’ takes the first collection. For any of the subsequent months, next person to receive the full amount by lottery system will be whose chit is picked up from others which have names of the persons who have not received the total amount of collection. In this way person gets the money in turn.
Shares in public Limited Companies:
In this scheme, different companies sell shares and the person who buys the ‘share’ becomes a part owner and is entitled to get the share of the profit made by the company, which is called ‘dividend’. The person should be careful in selecting the company. If there is no profit then person will get nothing in excess than what is expended.
Public Provident Fund :
People working independently can take advantages of saving their money in this facility provided by the Government of India through the State bank of India. An adult can open an account on his own or on behalf of a minor to make deposits of not less than Rs 100/- and not exceeding Rs 20,000/- per year in any branch of State bank of India. Loan facility on the fund and withdrawal of the money are available.
Participants