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Single Vs Regular Premium: Which ULIP Should you Buy?

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Single Vs Regular Premium: Which ULIP Should you Buy?

Most of the financial instruments that are used for investing money in the market get the money for these investments from the premium paid for them. Premium is basically the amount that you pay in order to enjoy the benefits of a product. So, instruments that allow investment use the premium for investing in funds. This applies to a ULIP policy as well. The premium paid for the policy is used for investment and insurance cover. Read on to know more about the different types of payment methods. 

What is a ULIP policy?

A unit linked insurance plan is a life insurance policy that has the dual benefit of investment and insurance under a single policy. The premium that the investor pays towards the policy is divided into two parts. One part is used for the provision of life insurance cover. The other part is used for investing in market-linked funds. You have the option of investing in equity funds, which carry a high-risk factor and give higher returns to the investor. Or you can invest in debt funds, which carry a low-risk factor and provide low-to-medium returns to the investor. The fund that you select should match your risk appetite and your life goal.

What are the types of premium payments?

When you invest in a ULIP policy, you will come across two ways of paying your ULIP premiums:

  1. Regular premium

A regular premium is where the policyholder has the option of paying the premium periodically. This can be done on a monthly, quarterly, or yearly basis. Based on your financial capability, you can opt for either of the payment methods that suit you the most. Do keep in mind that you need to be aware of the final date of premium payment. Usually, the premium amount is deducted automatically from your account on the due date. 

  1. Single premium

A single premium is where the policyholder makes a one-time premium payment. Essentially it means that a lump sum amount is paid for premium. This option is suitable for those who can allocate the money required for the premium without the prospect of any financial turmoil. In this, there is no need to keep a track of due dates or worry about fees related to the late payment of premium. 

Why is the premium important?

In ULIPs, to be able to enjoy the returns of your investments and to get life insurance cover, you require money. This money comes from premium payments. Not being able to pay for the policy will have severe ramifications on your policy. Firstly, you could end up losing the life insurance cover that is provided under the policy. This could leave your loved ones vulnerable from the expenses related to life risks.

Secondly, your wealth will not grow as there will be fresh investments made in the funds. The returns that you have gained on your investments will be the benefit you can enjoy. If you do not pay the premium, your insurer will give you a grace period. If you fail to pay premium during this grace period, the insurer will start charging you discountenance fees. These fees will be deducted from your fund value. Upon the completion of the lock-in period of 5 years, your insurer will pay you the accumulated amount after deducting all the necessary charges from the fund value. 

Which premium option should you go for?

Whether to go for a regular premium or single premium depends on one factor: your wealth. If you are earning substantially enough to not get impacted by a single payment of a huge amount of money, then you should go for the single payment option. However, if you happen to be the only earner in your family with dependents relying on your income, you should opt for the regular premium payment method. If you cannot pay on a monthly basis, you can save enough for quarterly payment. The payment option should be such that it should not create a financial burden for you.

These are the types of premium payments for ULIPs. Do remember that premium payments for ULIPs are eligible for tax exemption under Section 80C of the Income Tax Act.

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Royal Tower Shipra Suncity Indirapuram, Ghaziabad, Uttar Pradesh: Opening time, Location and Accessibility

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Shipra Royal Tower

Shipra Royal Tower, situated in the sprawling Shipra Suncity located in Indirapuram, Ghaziabad, Uttar Pradesh is a renowned residential project developed through Shipra Group. Shipra Group. This project that is ready for occupancy is a perfect blend of modern amenities and a strategic place of residence, that caters to the demands of modern urban residents.

Project Overview

Shipra Royal Tower comprises a single tower that has 9 floors that house the residents in 168 units. The units are available in 3 and 2 BHK designs, with built-up areas of 780 square feet to 1630 sq ft. The construction was completed and available to be occupied in May 2008.

Facilities and Services

The complex has a wide range of amenities that are designed to improve the lives of the residents of the complex:

  • Power Backup ensures that all devices have uninterrupted power supply.

  • Security Services Security personnel on 24/7 and monitoring systems to ensure resident security.

  • recreation facilities: It includes a pool for swimming, gym and gardens that are landscaped to enjoy fitness and leisure.

  • Clubhouse An area specifically designed for gatherings, social gatherings and community events.

  • Sport Facilities Facilities for outdoor as well as indoor games that promote an active life style.

Project Details

Detail Information
Location Shipra Royal Tower, Shipra Suncity, Indirapuram, Ghaziabad, Uttar Pradesh 201014
Configuration Two BHK as well as 3 BHK Apartments
Size Range 780 – 1,630 sq. ft.
Price Range Rs54.60 Lakh – Rs1.14 Crore
Possession Date Mai 2008 (Ready to move)
Developer Shipra Group

Accessibility and Location

Shipra Royal Tower is strategically situated in Indirapuram It has great connectivity to the various regions of National Capital Region (NCR):

  • Metro Access It is the Noida Electronic City Metro Station is the closest station to metro that allows for easy commutes.

  • Road connectivity: The proximity to the major highways like Link Road Mohan Nagar Noida, Sucheta Kriplani Marg, and Hindon Cut Road enhances accessibility.

  • Education Institutions A number of prestigious colleges and universities are situated nearby that cater to the academic requirements of the residents.

  • Hospitals: The most renowned hospitals can be found located close by, offering rapid medical aid.

  • entertainment and shopping The region has a variety of dining establishments, shopping malls and entertainment venues with plenty of options for entertainment activities.

Advantages as well as Cons based on Resident feedback

The opinions of residents and online reviews focus on these aspects:

Pros:

  • Strategic Site: Residents appreciate the area of the project, as it provides an easy access to the essential services and major routes of transit.

  • Complete Amenities: The accessibility of many amenities in the complex improves the standard of living.

  • Community Living A presence in an outdoor clubhouse and facilities for recreation encourages a sense o of community for residents.

Cons:

  • Ageing infrastructure: The project’s completion was in 2008 some residents have complained about the necessity for maintenance and upgrades in particular areas.

  • Parking Constraints Parking space is limited and has been a problem to some people, in particular in peak times.

  • water supply issues Sometimes, interruptions in supplies of drinking water are observed and have forced the use of alternative sources in some instances.

In the end, Shipra Royal Tower offers an ideal blend of comfort as well as convenience and living in one of Ghaziabad’s most most sought-after areas. Although it offers many benefits however, addressing the issues will further enhance the resident living experience.

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Prestige Lexington Tower, Palya, Bengaluru: Operating Hours, Address and Contact Information

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Prestige Lexington Tower

Prestige Lexington Towers is a well-known commercial office space that was developed in the name of Prestige Constructions, situated in the SG Palya locality of Bengaluru. The project is located close to Hosur Road, offering excellent connectivity to other parts of the city.

Project Overview

The structure is comprised of a constructed area of around 182,018 square foot, spread between two basements and a ground floor and eight floors up. Each floor is a vast space of approximately 23.51 square feet, which is ample space for a variety of commercial operations. The property has in-house parking which makes it convenient for guests and occupants.

Facilities and Services

Prestige Lexington Towers is equipped with a variety of modern facilities specifically designed to meet the requirements of modern businesses:

  • Security 24×7: Comprehensive security measures such as CCTV surveillance guarantee a secure working environment.

  • Power Backup Continuous power source to ensure business continuity.

  • Elevators Lifts with high-speed speeds facilitate efficient movement within buildings.

  • Park for Visitors: Parking spaces specifically reserved for clients and guests.

  • Emergency Firefighting Equipment Modern systems are in use to manage emergencies.

  • BMS: Building Management System (BMS): integrated systems to optimize construction operations.

These facilities are designed to create an environment that is safe and comfortable for companies operating in the tower.

Operating Hours

The typical working hours for companies within Prestige Lexington Towers are typically between 9:00 AM and 6:45 PM, Monday to Friday. However, the exact timings could differ based on the individual tenant’s operations and the policies of management.

address and contact information

Detail Information
Address No.66, Lexington Towers, Tavarekere Main Road, S.G. Palya, Koramangala, Bangalore, Karnataka 560029
Contact Number +91 80 4411 0000
Website N/A

Closeby Areas, Accessibility and Nearby Zones

Prestige Lexington Towers enjoys a great location and has excellent connectivity:

  • Higher Education institutions: Close proximity to famous institutions like Christ University and St. John’s Medical College.

  • Health Facilities Close by hospitals are St. John’s Hospital and Sagar Hospitals.

  • Shopping and dining: Close to shopping centers such as The Forum Mall and a range of cafes and restaurants in Koramangala.

  • Transport: It is well connected to main roads, such as Hosur Road and the Outer Ring Road as well as an easy access to public transport.

The ideal location makes sure that businesses are able to access important services and amenities which makes it easier for clients and employees alike.

Review: Pros and Cons as reported by Reviews

Feedback from visitors and occupants can provide valuable insight into the overall experience at Prestige Lexington Towers:

Pros:

  • Strategic location: The tower’s location is well-connected to major areas in Bengaluru which makes it ideal to conduct business from.

  • Modern amenities: The building is equipped with modern amenities which meet the requirements of modern companies.

  • Large Design Floor plates that are large allow for a variety of business configurations.

Cons:

  • Traffic Congestion At times of peak traffic nearby areas could encounter traffic congestion, affecting commute time.

  • Car Parking Restrictions: While in-house parking is available, parking spaces could be limited during busy times.

In short, Prestige Lexington Towers offers an ideal blend of strategic location with modern amenities and a spacious layout which makes it an attractive choice for businesses looking to lease offices in Bengaluru. The resolution of the issues mentioned will make the experience more enjoyable for the tenants.

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Mahindra Towers Chakan, Maharashtra: Operating Hour, Address and Contact Information

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Mahindra Towers

Mahindra Towers, located in Chakan, Maharashtra, serves as a major corporate headquarters within Mahindra & Mahindra’s vast operations. The facility is situated within Chakan, which is part of the Chakan Industrial Area the facility is a testament to Mahindra’s dedication to quality and innovation in the automobile industry.

Mahindra Towers Overview

Strategically situated strategically within strategically located within the Chakan Strategically located within the Chakan Industrial Area, Mahindra Towers is part of Mahindra’s extensive manufacturing hub. The facility is essential to the company’s manufacturing of automotive and corporate functions, which reflects Mahindra’s commitment towards environmentally sustainable manufacturing practices and environmentally friendly processes.

Facilities & Amenities

Mahindra Towers in Chakan is equipped with the latest technology to facilitate its operation:

  • Modern Manufacturing Units: The facility houses modern manufacturing units which make use of the latest technology in vehicle production.

  • Research and Development Centers: Dedicated spaces for the development and innovation of new automotive technologies.

  • Employee Benefits: Provisions such as cafeterias, areas for recreation and training facilities to create a comfortable work atmosphere.

  • Sustainability initiatives: The implementation of environmentally friendly practices, such as conservation of water and use of renewable energy in line with Mahindra’s sustainability commitment.

Operating Hours

The facility is open during business hours that are normal generally between 9:00 AM and 6:00 pm, Monday through Friday. However, some departments, such as those in manufacturing, can operate during shifts in order to keep the operation.

Email Address, Contact Details and more

Detail Information
Address Mahindra Towers, Plot No. A/1, Chakan Industrial Area, Phase IV, Post – Nighoje, Chakan, Tal Khed, Dist. – Pune, Maharashtra, 410501
Contact Number +91 21 3561 7000
Website

Accessibility and Nearby Areas

Mahindra Towers is strategically located to capitalize on the industrial infrastructure of Chakan:

  • Industrial Connectivity The proximity to other important industrial companies in Chakan Industrial Area Chakan Industrial Area facilitates collaboration and efficiency of the supply chain.

  • Transportation Access Connected to the road network, allowing an easy route for logistics as well as commuters.

  • Urban Amenities Nearby urban areas offer housing options, health facilities as well as educational institutions, which contribute to the comfort of visitors and employees.

The pros and cons as reported by Reviews

Feedback from visitors and employees gives valuable insight into the environment of the facility:

Pros:

  • modern infrastructure: This facility has been highly praised for its modern layout and well-maintained facilities.

  • Employee-Friendly Facilities The availability of different facilities enhances the overall experience.

  • Sustainable Commitment: Initiatives towards eco-friendly operations are well-loved.

Cons:

  • Problems with Location: Because it is located in an industrial zone there are some who may feel it difficult to reach cities with major centers of activity.

  • Traffic Congestion At times of peak traffic nearby areas may encounter traffic congestion that can impact the commute time.

In short, Mahindra Towers in Chakan represents Mahindra & Mahindra’s commitment to building a modern, sustainable and accommodating workplace. Although it has many advantages however, taking care to address the most pressing issues can make the experience even better for the employees who live there.

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