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Child care through mutual funds..

noreply@blogger.com (Zaf Rule) — Fri, 14 May 2010 07:18:00 +0000

Child care through mutual funds

Fund houses have balanced schemes and monthly income plans to cater to children's long-term needs.
Parents often seek the best way to save for their children. And aggressive advertising can confuse them. There are various insurance schemes, namely child plans, in the market. Also, many fund houses have schemes that cater specifically to this need.

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UTI Mutual Fund, Tata Mutual Fund and Franklin Templeton Asset Management have been running schemes catering to financial planning for children for over a decade. Such schemes offered by mutual funds are similar to either balanced funds or monthly income plans (MIPs). Being low-cost investment instruments compared to pure insurance products, these made more financial sense for child planning, said financial planners.
“Compared to an insurance product, they work out to be more cost-efficient,” said Malhar Majumder, a certified financial planner. He added, “Though diversified equity funds are the best option for any long-term goal, these schemes suit investors who keep moving in and out of mutual fund based on market conditions. Investing for children creates a psychological hurdle that prevents parents from either breaking the investments or switching.”
“That is why we accept applications only in the name of a child. This further deters parents from utilising this money for other purposes,” said Ranen Gandhi, head (products), ICICI Prudential Mutual Fund.
Structure
Most of the equity-oriented plans in this category are balanced funds. This helps in automatic rebalancing of equity and debt and even reduces the risk of volatility.
There are around six equity-oriented schemes, including ICICI Pru Child Care (Gift), HDFC Children's Gift (Investment), Principal Child Benefit SS-Career Builder, UTI CCP Advantage, Templeton India CAP Gift and LICMF Children Fund. Except for ICICI Prudential, which has a customised index, all the funds have Crisil Balanced as their benchmark.
However, asset allocation between equity and debt differs from fund-to-fund. For example, though UTI CCP Advantage is a balanced fund, it has the mandate to invest in equity up to 100 per cent and up to 35 per cent in debt. HDFC Children's Gift's (Investment) equity allocation can range from 40 to 75 per cent and debt allocation from 25 to 60 per cent.
Equity allocation of over 65 per cent makes these funds more tax-efficient. There is no long-term capital gains tax for the unitholder if the fund maintains equity allocation at 65 per cent of the overall corpus.
Within debt, there are six funds, including ICICI Pru Child Care (Study), UTI CCP Balanced, HDFC Children's Gift (Savings), Magnum Children's Benefit Plan, Templeton India CAP Education and Tata Young Citizens.
The equity-oriented schemes were suitable for children under 13, as equity investment required long-term investments, said financial planners. Later, one can move the money into debt-oriented plans through a systematic withdrawal plan, as you get closer to your financial goal.
A person investing in these schemes can also opt for lock-in. For example, HDFC Mutual Fund offers a lock-in for both its funds. If a person opts for this option, the money cannot be redeemed until the child attains 18 years or until each investment completes three years, whichever is later.
Insurance
Some of these schemes also offer insurance cover. These include ICICI Prudential and Tata Mutual Fund. However, this is a personal accident insurance cover. Between the two, ICICI Prudential covers one parent for Rs 5 lakh or 10 times the units held, whichever is lower. Tata Mutual Fund covers a child for personal accident for Rs 1.5 lakh, as per the scheme's information document. “This cover is of little use to the investor. Such a product is available at a small cost elsewhere. What a parent requires is life insurance,”said Majumder.
Even for accident insurance, there would be many clauses and caveats. An investor should first gain clarity on insurance before relying on it.
Performance
In the past one year, ICICI Prudential ChildCare Gift (97.84 per cent), HDFC Children's Gift (Investment) (66.91 per cent) and Principal Child Benefit (59.80 per cent) are among the top 10 balanced funds by returns. In the debt-oriented category, ICICI Prudential ChildCare Study (25.62 per cent), UTI CCP Balanced (27.59 per cent), Tata Young Citizens (38.43 per cent) are among the top 10 schemes by returns.

AT A GLANCE
Schemes (Equity-Oriented)	5-Year	3-Year	1-Year	Equity	Debt	Benchmark	Net Assets (Rs Cr)
ICICI Pru Child Care-Gift	19.22	11.53	97.84	65-100	0-35	50% mid-cap & 50% small-cap	153.93
HDFC Children's Gift Inv	15.97	12.22	66.91	40-75	25-60	Crisil Balanced	225.57
Principal Child Benefit SS-Career Builder	23.46	14.65	59.80	65-75	25-35	Crisil Balanced	30.13
UTI CCP Advantage-G	9.06	11.61	44.91	70-100	0-35	Crisil Balanced	48
Templeton India CAP Gift-G	-	9.86	44.71	40-75	25-60	Crisil Balanced	6.7
LICMF Children Fund-G	-	-11.42	39.36	0-70	0-100	Crisil Balanced	7
Tata Young Citizens	14.17	8.99	38.43	0-50	0-50	Crisil Balanced	175.83
Schemes (Debt-Oriented)
ICICI Pru Child Care-Study	12.68	10.65	25.62	0-25	75-100	Crisil MIP BI	30.97
UTI CCP Balanced	11.88	9.27	27.59	0-40	60-100	Crisil H 60:40	2,780.52
HDFC Children's Gift Sav	9.56	12.24	22.84	0-20	80-100	Crisil MIP BI	60.11
Magnum Children's Benefit Plan	8.83	7.44	15.09	0-25	0-75	Crisil MIP BI	21.84
Templeton India CAP Education	8.22	6.21	12.14	0-20	80-100	Crisil MIP BI	1.42
Source: Value Research; Returns as on April 23

“We get long-term money and only from retail investors, that's why the corpus of such scheme is small. However, this helps to construct the portfolio accordingly. Most of the funds in this category are consistent, if not star performers,” said Gandhi. Investments
When planning for a child's future, a person should always keep adequate insurance, said financial planners. Without relying on insurance bundled with the scheme, a parent should take a low-cost term plan that covers the child in case of death of the parent.

Pruchild care..

noreply@blogger.com (Zaf Rule) — Tue, 11 May 2010 04:36:00 +0000

Child care through mutual funds

Fund houses have balanced schemes and monthly income plans to cater to children's long-term needs.

Parents often seek the best way to save for their children. And aggressive advertising can confuse them. There are various insurance schemes, namely child plans, in the market. Also, many fund houses have schemes that cater specifically to this need.

UTI Mutual Fund, Tata Mutual Fund and Franklin Templeton Asset Management have been running schemes catering to financial planning for children for over a decade.

Such schemes offered by mutual funds are similar to either balanced funds or monthly income plans (MIPs). Being low-cost investment instruments compared to pure insurance products, these made more financial sense for child planning, said financial planners.

“Compared to an insurance product, they work out to be more cost-efficient,” said Malhar Majumder, a certified financial planner. He added, “Though diversified equity funds are the best option for any long-term goal, these schemes suit investors who keep moving in and out of mutual fund based on market conditions. Investing for children creates a psychological hurdle that prevents parents from either breaking the investments or switching.”

“That is why we accept applications only in the name of a child. This further deters parents from utilising this money for other purposes,” said Ranen Gandhi, head (products), ICICI Prudential Mutual Fund.

Structure

Most of the equity-oriented plans in this category are balanced funds. This helps in automatic rebalancing of equity and debt and even reduces the risk of volatility.

There are around six equity-oriented schemes, including ICICI Pru Child Care (Gift), HDFC Children's Gift (Investment), Principal Child Benefit SS-Career Builder, UTI CCP Advantage, Templeton India CAP Gift and LICMF Children Fund. Except for ICICI Prudential, which has a customised index, all the funds have Crisil Balanced as their benchmark.

However, asset allocation between equity and debt differs from fund-to-fund. For example, though UTI CCP Advantage is a balanced fund, it has the mandate to invest in equity up to 100 per cent and up to 35 per cent in debt. HDFC Children's Gift's (Investment) equity allocation can range from 40 to 75 per cent and debt allocation from 25 to 60 per cent.

Equity allocation of over 65 per cent makes these funds more tax-efficient. There is no long-term capital gains tax for the unitholder if the fund maintains equity allocation at 65 per cent of the overall corpus.

Within debt, there are six funds, including ICICI Pru Child Care (Study), UTI CCP Balanced, HDFC Children's Gift (Savings), Magnum Children's Benefit Plan, Templeton India CAP Education and Tata Young Citizens.

The equity-oriented schemes were suitable for children under 13, as equity investment required long-term investments, said financial planners. Later, one can move the money into debt-oriented plans through a systematic withdrawal plan, as you get closer to your financial goal.

A person investing in these schemes can also opt for lock-in. For example, HDFC Mutual Fund offers a lock-in for both its funds. If a person opts for this option, the money cannot be redeemed until the child attains 18 years or until each investment completes three years, whichever is later.

Insurance

Some of these schemes also offer insurance cover. These include ICICI Prudential and Tata Mutual Fund. However, this is a personal accident insurance cover. Between the two, ICICI Prudential covers one parent for Rs 5 lakh or 10 times the units held, whichever is lower. Tata Mutual Fund covers a child for personal accident for Rs 1.5 lakh, as per the scheme's information document. “This cover is of little use to the investor. Such a product is available at a small cost elsewhere. What a parent requires is life insurance,”said Majumder.

Even for accident insurance, there would be many clauses and caveats. An investor should first gain clarity on insurance before relying on it.

Performance

In the past one year, ICICI Prudential ChildCare Gift (97.84 per cent), HDFC Children's Gift (Investment) (66.91 per cent) and Principal Child Benefit (59.80 per cent) are among the top 10 balanced funds by returns. In the debt-oriented category, ICICI Prudential ChildCare Study (25.62 per cent), UTI CCP Balanced (27.59 per cent), Tata Young Citizens (38.43 per cent) are among the top 10 schemes by returns.

Prudential...

noreply@blogger.com (Zaf Rule) — Wed, 14 Apr 2010 08:32:00 +0000

Prudential insurance

With over 21 million patrons world wide, Prudential Life Insurance Company is the leading financial services company. Its the UKs best Insurance agency having its operations extended to over 12 countries in Asia. Prudential Insurance has a reputation of being the best and most successful premium policy till now. And, despite of competition from the more established insurance companies, Prudential insured around one-third of UK population in the early 1900s. Compared to the size of UKs economy and financial markets, the company became more powerful than the US and Japanese insurance firms. In recent years, Prudential has concentrated in specialized areas particularly in profits and annuities, where it holds a major chunk of market share. These days, the companies services and product range has extended to a wider range like personal banking, insurance, pensions and retail investments, property investments to institutional fund managemen

Brief history of the Prudential Insurance

Prudential Private Limited Company was founded on 30^th May, 1848 in London, as The Prudential Mutual Assurance Investment and Loan Association. The initial services offered were of providing loan to professionals secured through life assurance. The company became Prudential Assurance Company in the year 1867 and following the Limited liability Act in 1880, became a limited company in 1881.

Prudential services and operation

In addition to its original business in UK, Prudential Plc have two other overseas business establishments. In Asia, Prudential is the largest life insurance agency, which operates through Prudential Corporation Asia. They were the first UK Company to re-establish life insurance agency business in China, in the year 2000. There business is also spread across in Hong Kong, Taiwan, Japan, Korea, Singapore, Thailand, Indonesia, Malaysia and Philippines besides a series of operating networks in US.

prudential medical

noreply@blogger.com (Zaf Rule) — Wed, 14 Apr 2010 08:14:00 +0000

MEDICAL CARD (MEDICAL CARD) Prudential BSN Takaful Berhad (PruBSN)
Options & Additional benefits in the Plan Prudential BSN Takaful Berhad (PruBSN) - Takafulink

1. Death and Disability Due to Accident
Reimbursement of Medical Accidents. Accident benefits to be added to your primary protection benefits.
2. Medical Coverage If you are admitted to hospital due to illness or injury, you will receive a fixed cash payments for Hospitalisation Assistance, Intensive Assistance and Aid Surgical Procedure.
3. Major Medical coverage (Medical Card) Provide medical cover (medical card) for the benefit of Hospital and Surgical and Outpatient Treatment If you are hospitalized or require outpatient treatment due to illness or injury. This also includes Emergency Medical Assistance.
4. Hospital Benefit Provides daily cash assistance if you are admitted to hospital
5. Disability Assistance Income Protection Krisis.Manfaat is paid each year if you have a Total and Permanent Disability (HUMK) or critical illness before reaching the age of 60 years.
6. Crisis Coverage Protection of critical illness, which is known to be used in the times when you most need it.
7. Weekly Indemnity Provide weekly cash assistance if the participant disability due to accident.
8. Contributors Pay the annual benefit if you attack critical. Payments cease upon your death.
9. Contributor, or the Parent Partners If the spouse or parent dies or suffers HUMK or diagnosed with critical illness, these benefits will help you to pay contributions to the Takaful plan for the future.

Pruchild Insurance..

noreply@blogger.com (Zaf Rule) — Wed, 14 Apr 2010 08:05:00 +0000

Profile

Prudential ICICI Asset Management Company, (55%:45%) a joint venture between Prudential, UK`s leading insurance company and ICICI, India`s premier financial institution. The joint venture was formed with the key objective of providing the Indian investor mutual fund products to suit a variety of investment needs. The AMC has already launched a range of products to suit different risk and maturity profiles.

Sponsor

Prudential plc was founded in 1848. Since then it has grown to become the largest provider in the UK providing a wide range of savings products for the individual including life insurance, pensions, annuities, unit trusts and personal banking. It has a presence in over 12 countries, and caters to 10 million customers. It manages assets of over US$ 247 billion (June 30, 1999).ICICI Ltd was established in 1955 by the World Bank, the Government of India and the Indian Industry. Since inception ICICI has grown from a development bank to a financial conglomerate and has become one of the largest public financial institutions in India. ICICI has financed all major sectors of the economy, covering 6,811 companies and 16,632 projects. As of December 31, 1999 ICICI had disbursed a total of Rs. 1,065 bn since inception.

Prudential Assurance Malaysia Bhd (PAMB) expects its latest protection plan called "PRUmy child" to boost its education insurance segment to contribute between 15 to 20 per cent to overall new business this year .

Its chief executive officer Charlie Oropeza said the latest child education policy will contribute the bulk of the company's premium growth as demand has been increasing in anticipation of an annual birth rate of 500,000.

"Today's world is very challenging for expecting mothers and their unborn babies, especially during the growing up period. Thus, we believe the unique features offered via PRUmy child will help to boost our premium growth for education plans for this year," he told reporters after the launch of the new policy in Kuala Lumpur yesterday.

PAMB hopes to continue recording strong growth in new business annual premium in tandem with the economic recovery.

"We registered a 24 per cent growth last year and intend to do much better this year," Oropeza said.

Last year, PAMB achieved a record RM817 million in new business annual premium, of which 85 per cent of the sales came from its investment-linked products.

PRUmy child, which comes with a minimum annual premium of RM600, is the first of its kind child insurance plan that offers coverage during the crucial pregnancy and infancy periods.

It can be purchased for the unborn child as early as 18 weeks into the pregnancy, or for the child who is between one and 18 years old.

The parent must be aged between 18 and 60 to own the policy.

Apart from providing the child with an unprecedented protection before birth, PRUmy child also allows parents to further secure the child's well-being with other riders that are linked to medical, accident and critical illness.