Newsletter July

The American Central Bank has increased its federal funds rate by 25 basis points resulting it to 5.25 per cent. Since June 2004, it is the 17th time; the U.S. Federal Reserve has pushed up the interest rates, which is the highest level since March 2001.

The state insurer, Life Insurance Corporation of India (LIC) announced the launch of its two unit linked plans. For the first time it took the plunge in unit linked group insurance plan called Gratuity plus.

There is so much emphasis laid on retirement planning that you are actually forced to sit back and think about it. After all why is so much importance given to it? The answer lies in the question itself, why shouldn’t you plan for it?

Have you invested in the stock market and has the recent downfall of it left you upset? Have you invested in the funds through unit-linked plans? If yes, then it’s about time to make use of the ‘switching’ feature, which the plan offers.

Life v/s Non Life Insurance

Mr. Mehra’s storage place burned down. Meena, his wife, called the insurance company and said, "We had that storage place insured for fifty thousand and I want my money."

"Oh! Just a minute, Mrs. Meena, it doesn't work like that. We will assess the value of the building and provide you with a new one of comparable worth." the agent replied.
Mrs. Meena, after a pause, said, "I'd like to cancel the policy on my husband."

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