Aadhar is assuming greater and greater importance in our lives. We are required to link our Aadhar information to bank accounts, investments, insurance, mobile connections, PAN card and at many more places. In addition, even from a transaction standpoint, Aadhar verification is required to get new mobile connections, file income tax returns etc. Aadhaar verification is … [Read more...] about How to check online where and when your Aadhaar has been used for Authentication?
Atal Pension Yojana (APY) was launched to provide life-long pension to the underprivileged and workers in the unorganized sector. If you join the scheme, the Central Government guarantees you and your spouse a minimum pension for life. Atal Pension Yojana (APY): Benefits and Scheme Details Based on your contribution per month, you will receive a minimum guaranteed pension … [Read more...] about Atal Pension Yojana (APY): Features, Benefits, Tax Treatment and Review
You purchased a pension plan many years back. The plan is about to mature. You get a call from the insurance agent/salesperson that you can use the pension plan proceeds to purchase a Unit Linked Insurance plan. What will you do? I have received quite a few similar queries over the last few months. Perhaps, this always used to happen. Just that I got aware because of the … [Read more...] about Maturing Pension plans and purchasing new ULIPs
Have you been investing in NPS? If not, I am not sure there are some reasons for staying away from NPS. Some of the common (and most of them valid too) reasons for not investing in NPS are: #1 Your money is locked in until the age of 60 Yes, you can’t access your money until the age of 60 or you can access only a small portion of it before 60. That is a problem. But all … [Read more...] about What are the problems in NPS? Why investors stay away?
When we talk about Unit Linked Insurance Plans (ULIPs), the detractors point to higher charges that lead to lower returns. On the other hand, the proponents point to the favourable low-cost structure that came into existence after IRDA revised Unit Linked Regulations, 2010. Both seem to have a valid point. Higher charges do eat into the returns. On the other hand, the new-age … [Read more...] about In a ULIP, you pay more for the same life cover as compared to a Term plan (Mortality charges)
IRDA, the insurance regulator, has made it mandatory to link your Aadhaar card to insurance policies. Though I am not a big fan of traditional life insurance plans, I still happen to hold one such plan from LIC. Therefore, I need to link my Aadhaar to my LIC policy. What about you? Have you purchased any LIC policy? How do you plan to link Aadhaar card to your LIC … [Read more...] about How to Link Aadhaar to LIC policy online in 5 minutes?
With each passing day, Aadhaar card is occupying greater and greater space in our lives. We have been asked to link Aadhar card to our mobile phones, bank accounts, PAN card, investments, and insurance. You need to link Aadhaar card to get various basic services such as availing LPG subsidy, service pension or filing income tax returns etc. You might have to take a bit of pain … [Read more...] about Aadhaar card not mandatory for NRIs
Though I have talked about the difference between Tier 1 and Tier II NPS accounts in many of my earlier posts, I still receive a number of queries from investors asking about the difference between the two. In fact, I had a query where the investor invested in Tier 2 NPS to avail tax benefit (figured out later). Therefore, I think it will be useful to dedicate a post to the … [Read more...] about What are Tier 1 and Tier 2 NPS accounts? What is the difference?
Sukanya Samriddhi Scheme or Sukanya Samriddhi Yojana (SSY) was notified in December 2014. The scheme is part of the Beti Bachao, Beti Padhao Scheme The scheme offers attractive guaranteed interest rates. The Government sweetened the deal by making Sukanya Samriddhi Account part of Exempt-Exempt-Exempt (EEE) tax regime. The motive of the scheme is to encourage the savings in … [Read more...] about Sukanya Samriddhi Yojana Account Rules: Comprehensive Information Guide
Case 1: You invest Rs 1,000 per month for 15 years and earn a return of 12% p.a. Case 2: You invest Rs 2,000 per month for 15 years and earn a return of 10% p.a. In which case, will you end up with a larger corpus? Let’s find out. Do note the rate of return is higher in the first case while the amount invested is higher in the second case. In case 1, you will end up with … [Read more...] about When it comes to compounding, Amount invested matters too