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SAFETY
3 S
SECURITY
STABILITY
MARRIED WOMEN
PROPERTY ACT
INSURANCE
Financial Protection
Solution
Flexibility
Flexibility to
to start
start
at
at any
any stage
stage
Estate
Estate Protection
Protection
Professional
Indemnity
Income Protection
Disputes
Disputes settlement
settlement
MWP
Policy
Provides
Estate building
Tax
Tax Advantage
Advantage
Protection
Protection against
against
Creditors
Creditors
Income Protection
No
No changes
changes
in
in Lifestyle
Lifestyle
1)Wife alone,
2)Any one or more children alone or the wife and
3)Any one or more children together. In above
definition, the word 'children' means children by
blood only of the proponent. However, if the
proposer is Hindu alone, then even adopted
children are also included in the definition of the
word of children.
4)Can provide with equal or unequal shares in policy
monies. If the proposer has more than one legally
married wives,All of them will take jointly as wife as
a class.
5)It is not necessary he should have a child in
existence on the date of proposal.
Benefits:
When you purchase your Policy under
MWP act, you are making sure that the
claim amount be distributed among the
mentioned beneficiary equally or
unequally as specified by you.
Please understand that you cannot
appoint a nominee under this policy,
since nominee is the person who is just
authorized to receive the amount but not
use it.
You can appoint Specific beneficiary in
the form of your wife or Children or Joint
beneficiary with specific amounts.
Benefits:
APPOINTMENT OF TRUSTEES
APPOINTMENT OF TRUSTEES
APPOINTMENT OF TRUSTEES
DEATH OF BENEFICIARY
CHANGE OF BENEFICIARIES
DEATH OF TRUSTTES
HUF Insurance
A Hindu Undivided Family (HUF) is the creation of
the Hindu Law; an HUF consists of all persons
lineally descended from a common ancestor
including their wives & unmarried daughters.
Sometimes HNI clients opine that in their absence a
huge amount of wealth going to Their wife and/or
son may not be the best arrangement and may spoil
them, so on and so forth. Another provision of
income tax that can come handy is the Hindu
Undivided Family clause. An HUF created by the
client or of which the HUF is a co-parecener (male)
/member (female) can propose life insurance on the
life of any of its coparecener / members. The effect
is that the maturity/death proceeds do not go to any
one individual but become a part of the HUF corpus
thus benefiting the entire family and used for such
purposes as may be desired by the client, rather
than being squandered away by 1or 2black sheep
PRESENTED BY:-P.T.PATIL
DOLIC HUBLI III
CELL NO.9448133179
E-MAIL- patil179@yahoo.co.in
ptpatil179@gmail.com
Disclaimer:
The views mentioned above are of the author only. Data
and charts, if used, in the article have been sourced from
available information and has not been authenticated by
any statutory authority. The authors do not claim it to be
accurate nor accept any responsibility for the same