PersonalFinancePlan is an online personal finance advisory firm. We are a fee-only advisory firm in accordance with SEBI Investment Advisers Regulations, 2013

ICICI Prudential Medical Advantage Feature: Is it any good?

What, according to you, is an emergency? I am sure, for the most of us, medical hospitalization will rank at the very top. And where do you keep money that you would touch only in the event of medical emergency?

How claim is settled in case of multiple Health Insurance plans?

Many of us have more than one health insurance policies. And I receive a number of queries over e-mail and as comments in my blog post about discontent with claim settlements for two policies.  Many have grievance that the insurers

How Rs 3.2 lacs became Rs 11,678 in 6 years?

Birth of a child brings joy not only to the parents but also parents of the parents i.e. grandparents.  It is not uncommon to see grandparents making an investment in the name of their grandchildren. They want to contribute towards

You may get free life cover along with your mutual fund SIP

It is often said that you must not mix insurance and investment. However, if you get life cover absolutely free of cost while making an investment, should you ignore it? A few AMCs provide you an option to avail life

NPS updates: Two New Life Cycle Funds and a New Asset Class

PFRDA, in its circular dated November 4, 2016, added two more options of life cycle funds under Auto Choice option viz. Aggressive Life Cycle Fund and Conservative Life Fund. These options are in addition to Existing life cycle fund (Moderate

Beware of low interest EMI schemes

You visit an electronics store to purchase your favorite gadget.  At the time of payment, you notice an EMI offer at 4% rate of interest. You need to pay EMI for 12 months. You get interested. After all, you can

Retirement Planning: Pension plans or Mutual Funds?

Plan to start saving for your retirement? Where should you invest? Let’s look at various products where you can invest in. Defined Benefit Plans from Employers Pension plans from Insurance Companies National Pension Scheme (NPS) Retirement Plans from Mutual Funds

PFP Primer: What are Monthly Income Plans (MIP)?

The name “Monthly Income Plan” is certainly a misnomer.  There is no guarantee of monthly income (and the quantum of income).  Hence, MIPs are nowhere similar to Post Office Monthly Income Schemes (POMIS). What are Monthly Income Plans (MIPs)? Monthly

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