Distinction between a Bank & an Insurance company
| Bank | Insurance Company |
| Can keep our money in Savings or Fixed Deposits A/c | Can invest our money and should leave it there for a minimum period of 3 years |
| Can get interest for our money | Can get profit for our money |
| Can get only certain percentage as interest per year | The profit made by the company is shared equally between all the investors of the company depending on their investments |
| Have flexibility of depositing & withdrawing the money anytime from the savings bank account | Can invest anytime but can only withdraw after completion of 3 years with a minimum of Rs. 5000 per day |
| Pay income tax or TDS on the interest what is earned while filing our returns | No need to pay anything in income tax or TDS on the profit earned or till you withdraw the full amount |
| When we deposit the amount in Fixed deposit we can receive back our principal amount + interest after completion of the period, in case anything happens to the depositor, the family will be able to get the principal amount + interest after the term finishes | When invested can receive 5 to 10 times insurance cover of the invested amount and the family can receive back 5 to 10 time of the invested amount immediately in case something happens to the insured or the investor, if not can receive double the amount on completion of 3 to 4 years |
| Fixed deposits we have to every time renew upon expiry of the term | By paying little extra amount for insurance cover in the 2nd & 3rd year the money can be left in the insurance company for any number of years with the same insurance cover and can withdraw any number of times after completion of 3 years |
| Make profit by buying & selling currencies & by giving loans at more interest rates | Make profit by collecting premium plus investing the money collected from the investors in buying & selling of shares of 50 reputed companies whose turnover is more than Rs. 3000 crores per year |
Through your investment if I earn more than Rs. 2000 then 50% of the additional amount will be transferred back to your Indian bank account
Also if you are not in a position to invest but would like to earn asking your relatives or friends to invest in Insurance Company, contact me & that amount, which I will transfer to the investor's Indian Bank a/c will be transferred to your Indian Bank a/c
Waiting to hear from you
Best regards
Raymond Saldanha
Insurance Consultant
Email: rvms3159@yahoo.com , rvms31591@yahoo.com
Kuwait Tel: +965 23719249 Till January 1, 2009
Kuwait Mob: +965 65083525 Till January 1, 2009
Indian Mob: +91 9845376244 From January 2, 2009
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