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It depends. Some ULIP houses allow it while some dont. check with your ULIP provider if they allow. In most cases they do allow advance premium payments
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∙ 12y ago
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What are unit linked and traditional linked policy?
ULIPS are basically Unit linked plans .e in these plans you get the benefit of insurance as well as investing in Equity and bonds or debt... whereas in case of TLIPS these are traditional linked plans wherein you get the benefit of endowment plans with that of ULIPS as well...!!
Differences between mutual funds and ulips?
Mutual funds and ulips are almost similar in one aspect - They invest in the stock market and the investors own units of the fund that have a face and market value. The difference lies in the fact that, ulips provide life insurance coverage to its investors by charging a certain fee on the investment whereas mutual funds do not provide insurance coverage. In simple terms, ULIP stands for UNIT LINKED INSURANCE PLAN. They are a combination of Insurance and Investment plan. You could start with a small investment. ULIPs give you the benefit of investment and an insurance policy together. They are good avenues to invest in. ULIPs are Unit Linked Insurance Plans which are meant to give you safe and high returns. I personally am a ULIP holder from Bajaj Allianz and have been very satisfied with their returns. I invest in an online ULIP called iGain which allows you flexibility of payment and involves no middlemen/paperwork. So its nice and easy to invest in.
Are life insurance premiums taxable?
The money you pay in premiums is taxed. This is how they are able to give you a tax-free death benefit.
What is paid to the insurance company?
premiums
Universal life insurance premiums tax deductible?
NO. Life insurance premiums would NOT be deductible on your 1040 federal income tax return.
How many company sells ulips?
Many companies in India sell ULIPs. Some of them are:HDFCICICI PrudentialLICSBIBajaj Allianzetc
Why ulip band by sebi?
SEBI did not ban ULIPs but they banned some Insurance companies from selling ULIPs, that's all
Why uLIP was banned by sebi?
SEBI did not ban ULIPs but they banned some Insurance companies from selling ULIPs, that's all
Can you deposit the insurance premium in advance?
At lic u can pay advance premium for the next 5 years in advance at concessional rates. If the advance premiums falling in the next financial years, you will get discount of 5% per year upto 5 year advance premiums--i.e. For the 5th year advance premium u will get discount upto 25 %. Maximum allowed is only 5 advance premiums or 5 years excluding the existing financial year premium. First u have to pay the existing fy premium without discount and then u can pay for the next 5 fy prm. With discount as said above. So u get a chance to pay 6 premiums altogether. By this u are earning 5 % interest in advance which is equivalent to 8% rd if u try calculation. Important thing is u r saving money, u will be given only advance prm. Receipt and after accounting on that that dates u will be provided with regular prm receipt after accounting. Only after accounting on that that years u will be eligible for it rebates. I am a new agent, only 2 years old in lic agency and i hope that i have cleared all your doubts with the knowledge available with me.
Can you claim your Hospital insurance premiums as a deducton on your income tax if your payroll says it is nontaxable wages?
If the premiums are nontaxable income to you then you would NOT be allowed to take a deduction for the amount of the premiums that your employer has paid for your medical insurance premium's.
Will Progressive Insurance ask about recent traffic violations if you trade vehicles when your premiums are paid in advance?
More than likely, no.
How do you invest in ulip?
By contacting an authorized agent who sells ULIPs. Most banks these days sell ULIPs in their branches. You can visit any bank and ask for ulip investment options and their customer care exec will be happy to assist you.
Can you deduct health insurance premiums you paid?
If you file Schedule A (long form) you can deduct your health insurance premiums as a medical expense. If you pay this through your employer, most likely you have it paid from pre-tax income such as through a cafeteria plan, then you are not allowed to deduct the premiums.
How do barometers advance science?
They allowed scientists to measure pressure.
What are unit linked and traditional linked policy?
ULIPS are basically Unit linked plans .e in these plans you get the benefit of insurance as well as investing in Equity and bonds or debt... whereas in case of TLIPS these are traditional linked plans wherein you get the benefit of endowment plans with that of ULIPS as well...!!
How did Peter the Great recongize the government?
he allowed nobles to advance in the government only if they were loyal to him
Peter the great reorganize the government how?
He allowed nobles to advance in the government only if they were loyal to him.
