Services


NJ Wealth Mutual Fund

A evolving, emerging & enterprising group with its' roots in the financial services sector and today expanding into newer horizons with great passion.

The vision of the group is to be leaders in businesses driven by customer satisfaction, commitment to excellence and passion for continued value creation for all stakeholders. This vision has helped us grow and build the trust of our customers and associates which is at the cornerstone of everything we do. Trust is also at the heart of our success and the driver for passion for our success.

NJ Group is a leading player in the Indian financial services industry known for its' strong distribution capabilities. The journey of NJ began in 1994 with the establishment of NJ India Invest Pvt. Ltd., the flagship company, to cater to investor needs in the financial services industry. Today, the NJ Wealth Distributor Network, earlier known as the NJ Fundz Network, started in 2003 is among the largest networks of financial products distributor in India.

Over the years, NJ Group has diversified into other businesses and today has the presence in businesses ranging from financial products distributor network, asset management, real estate, insurance broking, training & development and technology. Our rich experience in financial services, combined with executional capabilities and strong process & system orientation, has enabled us to shape a rising growth trajectory in our businesses.

Prudent Mutual Fund

A Mutual Fund is a trust that pools together the savings of a number of investors who share a common financial goal. The money collected is then invested in capital market instruments such as shares, debentures and other securities based on their objective. The income earned through these investments and the capital appreciation realized are shared by its unit holders in proportion to the number of units owned by the investors.

What are the advantages of mutual fund?

  • Flexibility -Mutual funds offer a variety of schemes that will suit your needs over a lifetime. When you enter a new stage in your life, all you need to do is sit down with your financial advisor who will help you to rearrange your portfolio to suit your altered lifestyle..
  • Affordability –As a small investor, you may find that it is not possible to buy shares of larger corporations. Mutual funds generally buy and sell securities in large volumes which allow investors to benefit from lower trading costs. The smallest investor can get started on mutual funds because of the minimal investment requirements. You can invest with a minimum of Rs.500 in a Systematic Investment Plan on a regular basis.
  • Liquidity - In open-ended schemes, you have the option of withdrawing or redeeming your money at any point of time at the current NAV
  • Diversification –Risk is lowered with Mutual Fund as they invest across different industries&stocks.
  • Professional Management – Qualified professionals manage your money, but they are not alone. They have a research team that continuously analyses the performance and prospects of companies. They also select suitable investments to achieve the objectives of the scheme. It is a continuous process that takes time and expertise which will add value to your investment. Fund managers are in a better position to manage your investments and get higher returns
  • Low Costs – The economy of scale result in low cost.
  • Regulations – All mutual funds are required to register with SEBI (Securities Exchange Board of India). They are obliged to follow strict regulations designed to protect investors. All operations are also regularly monitored by the SEBI.
  • Transparency – The performance of a mutual fund is reviewed by various publications and rating agencies, making it easy for investors to compare fund to another. As a unitholder, you are provided with regular updates, for example daily NAVs, as well as information on the fund's holdings and the fund manager's strategy.

NEW INDIA ASSURANCE CO. LTD

NEW INDIA ASSURANCE CO. LTD, founded by Sir Dorabji Tata in 1919, a Multinational General Insurance Company, today operates in 28 countries and headquartered at Mumbai, India. Our global business crossed Rs. 22,270 crores in March 2017.

We have been market leaders in India in Non-Life business for more than 40 years. Our Indian business crossed Rs.19,100 crores in March 2017. We are the only direct insurer in India rated A-(Excellent) by AM BEST Company since 2007. We have been rated AAA/Stable by CRISIL since 2014, indicating that the Company has the highest degree of Financial Strength to honour its Policyholder's obligations.

We have been leading the market, apart from premium, in reserves & net worth for many years.

Star Health and Allied Insurance Co Ltd

Plans for Individauls
                                                                                        
                                                          
Medi Classic Individual
                                                          
Senior Citizens Red Carpet Plan
                                                          
Super Surplus Individual
                                                          
Criticare Plus
                                                          
Cardiac Care
                                                          
Unique Health Insurance
                                                          
Diabetes Safe Individual
                                                          
Star Care Individual
                                                          
Star Cancer Care Gold

Mutual Fund


Investing through mutualInvesting through mutual funds has become the most popular way of savings now-a-days. Mutual fund is a professionally managed scheme wherein they pool money from different numerous investors to be invested in bonds, stocks & other securities. Your investments done through MFs are safe as all the mutual fund operators are registered with SEBI & work within framework created to protect the investors. 

Advantages Of Investing In Mutual Funds  

Mutual funds have become a very popular investment option in India and this trend still continues with new funds and schemes being introduced in the market regularly. Some of the key reasons why people invest in mutual funds are outlined below.  

Professional management: Mutual funds are managed by fund managers of asset management companies. These managers employ their investment expertise to minimise risks and maximise returns to investors. Individuals often find it difficult to decide which assets to invest their savings in due to lack of financial knowledge. 

Diversification of risks: Since mutual funds invest in a number of securities, risk is diversified. The chances of all stocks performing badly at the same time is low. Losses suffered on some stocks are offset by gains made on others. This leads to minimization of risks. 

Affordable investment option: For those who don’t have sizeable amounts to invest in direct equity or other instruments that require a high initial investment, mutual funds make for an affordable investment avenue. Also, transaction costs are spread out over a number of investors thereby lowering individual costs. 

Focused investments: All mutual funds feature schemes clearly specifying which assets are targeted for investments, allowing investors to direct savings to different asset classes in an organised and focused manner. It also gives investors access to certain securities otherwise unavailable to them e.g. foreign sectors or foreign securities which cannot be invested in by individuals. 

Choice of assets: There are various types of funds e.g. equity funds, debt funds, money market funds, hybrid funds, sector funds, regional funds, fund of funds, index funds etc. giving investors a wide range of choice. 

Easy purchase and redemption: Fund units can be easily bought and sold at prevailing unit prices or NAVs. Unless there’s a lock-in period, it is easy for investors to buy into or out of a fund thereby providing liquidity. 

Tax benefits: A number of funds/schemes have been designed to act as tax-saving instruments e.g. ELSS or equity linked saving schemes. Investments made in these schemes qualify for income tax deductions. 

High returns: Mutual funds have been known to provide good returns on medium and long-term investments since investors can diversify risk to enhance overall returns. 

Regulated investments: All funds come under the purview of SEBI (Securities Exchange Board of India) which ensures dealings are as per regulations. This provides an element of safety to investments made. 

Easy to track: It can be hard for investors to regularly review their investment portfolios. Mutual funds provide clear statements of all investments which makes it easy for investors to keep a tab on. Hybrid or balanced funds provide investors an avenue to access both equity and debt funds at one go in a proportion of choice. 

SIP options: Systematic Investment Plans let individuals invest small amounts on a regular basis to avail benefits of rupee cost averaging. It’s an alternative to those who cannot invest lump sum amounts thereby appealing to investors across income levels. Mutual funds accept initial investments as low as Rs.500. 

Flexibility through fund switching: Many funds offer investors flexibility by letting investors switch between schemes or between funds to avail better returns

Travel Insurance

Travel insurance is insurance that is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling,

Travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a "multi-trip" policy can cover an unlimited number of trips within a set time frame. Some policies offer lower and higher medical-expense options; the higher ones are chiefly for countries that have high medical costs, such as the United States.

The most common risks that are covered by travel insurance plans are:

  • Medical treatment, including transportation to the medical facility.
  • Cancellation, curtailment and trip interruption
This section covers any unused travel and or accommodation costs, pre-paid charges (including any additional travel expenses incurred, provided they are deemed reasonable and necessary) if a trip is canceled or cut short under a variety of circumstances, which may include any of the following, depending on the policy:
  • death, bodily injury, illness, disease, or pregnancy complications
  • compulsory quarantine
  • jury service
  • being called as a witness
  • termination of employment (provided you did not know about it before you booked the holiday)
  • being called up if you are a member of the armed forces or other public defense or safety organization
  • prohibition of travel by the government to the intended destination
  • officially recommended evacuation from the intended destination
  • official advisory against going to or remaining at the intended destination
  • death or serious illness of a family member (subject to age restrictions).
  • Repatriation of remains
  • Return of a minor
  • Trip cancellation
  • Trip interruption
  • Visitor health insurance
  • Accidental death, injury or disablement benefit
  • Overseas funeral expenses
  • Lost, stolen or damaged baggage, personal effects or travel documents
  • Delayed baggage (and emergency replacement of essential items)
  • Flight connection was missed due to airline rescheduling or delay.
  • Travel delays due to weather
  • Hijacking

Medical expense coverage can be per-occurrence or maximum-limit.

Health Insurance

Complete health protection for your family against medical expenses and get tax benefit under Sec 80D.  

According to National Sample Survey (NSS) released on April 2016, around 86% of rural population and 82% of Urban Population were not covered under any scheme of health expenditure support. The biggest hurdle in seeking medical treatment was “financial constraint”, reported by over 55% of rural area and 60% of urban area.

No one plans to get sick or hurt, but most people need medical care at some point. Health Insurance covers these costs and offers many other important benefits.

  • Covers cashless hospitalisation in network hospitals. Thereby, protect you from unexpected, high medical costs.
  • Specified premium on renewals even if claims made i.e., No Premium loading on renewals
  • Covers entire family under floater option. i.e., same sum assured can be used by any one in the family for the given policy year.
  • No age restriction
  • No extra cost for pre-policy check up
  • Complimentary Annual Health check-up for all insured Adult members – regardless of claim history
  • Automatic Policy Recharge if claim amount exhaust your coverage at No extra cost

Medical Insurance

Health insurance is a type of insurance that fully or partially covers an individual's medical and surgical expenses. It's an agreement between you and your insurance company, where for an annual premium, the insurer pays for your hospitalization and other medical expenses as mentioned in your policy.

Accident Insurance

This policy offers compensation in case of death or bodily injury to the insured person, directly and solely as a result of an accident, by external, visible and violent means.

The policy operates worldwide and is a 24 hours cover.

Different coverages are available ranging from a restricted cover of Death only, to a comprehensive cover covering death, permanent disablements and temporary total disablements.

Family Package cover is available to Individuals under Personal Accident Policy whereby the proposer, spouse and dependent children can be covered under a single policy with a 10% discount in premium.

Group personal accident policies are also available for specified groups with a discount in premium depending upon the size of the group.

Scope

This policy is basically designed to offer some sort of compensation to the insured person who suffers bodily injury solely as a result of an accident which is external, violent and visible. Hence death or injury due to any illness or disease is not covered by the policy.

The following types of coverages are offered under a Personal Accident policy:-

Table D

  1. Death cover wherein 100% of the capital sum insured is payable.

Table C

  1. Coverage under Table D
  2. Loss of two limbs / both eyes / one limb and one eye wherein 100% of the capital sum insured is payable.
  3. Loss of one limb or one eye wherein 50% of the capital sum insured is payable.
  4. Permanent Total Disablement other than above e.g. paralysis due to an accident, wherein 100% of the capital sum insured is payable.

Table B

  1. Coverage under Table C
  2. Permanent Partial Disablement i.e. where a part of the body becomes permanently disabled due to an accident, e.g. total and irrevocable loss of use of a finger due to an accident. In such cases, a percentage of the capital sum insured as specified in the policy is paid.

Table A

  1. Coverage under Table B
  2. Temporary Total Disablement i.e. where the insured person becomes temporarily disabled from undertaking any work as a result of an accident for e.g. fracture of legs. In such cases, a weekly payment of 1% of the capital sum insured subject to a maximum limit, is paid for the number of weeks or part thereof (maximum 100 weeks), during which the insured person is totally disabled.

The insured can claim only under any one of these sections as a result of any one accident.

The policy also covers expenses incurred for carriage of dead body from place of accident to the residence subject to a limit of 2% of the capital sum insured or Rs.2,500 whichever is less. Under an Individual Personal Accident policy or Family Package Policy, an education fund is payable for a maximum of 2 dependent school going children, in case of death or permanent total disablement of the insured person.

Add on covers

Individual and group personal accident policies can be extended to cover medical expenses incurred in the treatment of an accident covered under the policy, subject to a limit of 10% of the sum insured or 40% of the death / disability compensation claim payable, on payment of additional premium.

The policy issued to Indian personnel working in foreign countries on civilian duty can be extended to cover War risk on payment of additional premium.

The policy can also be restricted to cover Personal Accident risk during duty hours only or during off-duty hours only with discount in premium. It is also possible to issue group P.A. policy excluding the death benefit subject to a group life policy covering death benefit being taken for the same group of persons for the same policy period.

Vehicle Insurance

As per the Motor Vehicles Act, 1988 it is mandatory for every owner of a vehicle plying on public roads, to take an insurance policy, to cover the amount, which the owner becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury or damage to property. A Certificate of Insurance must be carried in the vehicle as a proof of such insurance.

Two types of covers are available:

  1. Liability only policy. This covers third party liability for bodily injury liability and / or death and property damage. Personal Accident cover for Owner-driver is also included.
  2. Package policy. This cover loss or damage to the vehicle insured in addition to (1) above.

No- claim discounts are available on renewal of policy, ranging from 20% to 50%, depending upon the type of vehicle and the number of years for which no claim has been made.

Scope

Liability Only policies:

The policy covers the vehicle owner's legal liability to pay compensation for:

  1. Death or bodily injury to a third party person.
  2. Damage to third party property.

Liability is covered for an unlimited amount in respect of death or injury and damage to third party property for Rs.7.5 lacs under Commercial vehicle and private and Rs. 1 lakh for Scooters / Motor Cycles.

Package Policy

In addition to the coverage under liability only, this policy covers loss or damage to the insured vehicle and its accessories due to:

  1. Fire, explosion, self-ignition or lightning.
  2. Burglary, housebreaking or theft.
  3. Riot and Strike.
  4. Malicious Act.
  5. Terrorist Act.
  6. Earthquake (Fire and Shock) Damage.
  7. Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone and Hailstorm.
  8. Accidental external means.
  9. Whilst in transit by road, inland waterway, lift, elevator or air.
  10. By landslide/Rockslide

The policy also pays for towing charges from the place of accident to the workshop upto a maximum limit of Rs.300/- for Scooters/Motorcycles and Rs.1500/- for cars and commercial vehicles. It is also permissible to opt for higher towing charges subject to payment of extra premium.
A restricted cover is also available covering the risk of Fire and/or Theft only, in addition to the compulsory cover granted under "Liability Only Policy". However the same is not available in case of vehicle ratable under Class D, Tariff for Miscellaneous and special types of vehicles.
The important exclusions under the policies are:

  • Wear and tear, breakdowns
  • Consequential loss
  • Loss when driving with invalid driving license or under the influence of alcohol.
  • Loss due to war, civil war, etc.
  • Claims arising out of contractual liability.
  • Use of vehicle otherwise than in accordance with `limitations as to use ' (e.g. private car being used as a taxi)

Small Savings

Small Savings schemes are designed to provide safe and attractive investment options to the public and at the same time mobilise resources for development. These schemes are operated through 1.54 lakh post offices in the country. Public Provident Fund Scheme is also operated from 8000 branches of public sector banks in addition to the post offices. Deposit Schemes for retiring employees are operated through selected branches of public sector banks only.

Loan

Many times customers experience financial crisis, during those moments they would have to borrow money as soon as possible. They either borrow from relatives and friends. Such an immediate requirement can be fulfilled by banks and other financial institutions through personal loans

FD and Bonds

FD & Bonds are basically a way for companies & governments for issuing capital for expansion, infrastructural projects, etc. By issuing FD & Bonds to the public, the organizations & Government can raise money for their projects. In simple terms bonds are like a loan for which you are the lender. The organization who sells the FD & Bonds is known as issuer & the holder is called as an investor. The FD & Bonds usually have a defined term or maturity, upon which the FD & Bonds can be redeemed.