Healthcare costs are rising fast and a health insurance plan can secure your family’s finances against medical emergencies or prolonged hospitalization. Not just that, a health insurance plan also ensures that you can provide quality healthcare for your family. Most informed people have either purchased health insurance already or are planning to add one to their insurance … [Read more...] about Individual Health Insurance or Family Floater: Which one to choose?
Your life insurance needs are not static. Your life cover requirement keeps changing during your life. Your life cover need increases when you assume additional responsibility (marriage or birth of a child). On the other hand, it decreases as you achieve your financial goals or your savings for the goals grow. For example, your outstanding home loan will keep going down … [Read more...] about A Life Insurance Ladder can Save you Money
I must confess that the article headline is a click-bait. This is not a post to review the ICICI Prudential Signature Unit Linked Insurance plan. I have picked up this plan because it is a new low-cost product from ICICI Prudential Life. The intent is to address a much bigger topic about ULIP charges. In an earlier post, I had discussed the impact of ULIP charges on returns but … [Read more...] about How do you lose Rs 2.2 lacs by investing in ICICI Pru Signature ULIP?
Many investors purchase pension plans so that they continue to receive monthly income even once their regular salary stops after retirement. Which pension plans do you choose? In this post, let’s look at a popular pension plan from SBI Life, SBI Life Saral Pension Plan. SBI Life Saral Pension Plan: Important Points A Participating, Non-Linked, Traditional Pension … [Read more...] about Review: SBI Life Saral Pension Plan
For many of us, when we think about investments, the focus is mostly on returns. Not unfair. Everybody wants an adequate reward for the risk taken. However, when you think in terms of financial goals or financial planning, return is not the only part of the equation. Let’s look at the equation for compounding. A = P * (1+r)^n Where P is the amount invested, r is … [Read more...] about Financial Planning and Investing more
The birth of a child brings joy not only to the parents but also to the 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 their grand children’s future. In this post, I will pick a case where a senior citizen picked up an investment product and invested … [Read more...] about How Rs 3.2 lacs became Rs 11,678 in 6 years?
You are still young and want to start saving for your retirement. You want to ensure that you get a regular income after retirement. For this reason, you want to invest in a pension plan. Which pension plan do you pick up? There is NPS (National Pension Scheme) and there are several pension plans from the insurance companies. Which one would you pick? In a pension … [Read more...] about NPS vs Pension Plans from Insurance Companies: Which is better?
You got Rs. 10 lacs with you. You know you would need the money or at least some portion of it within 3 years. Where would you invest that money? A Bank Fixed Deposit or a Debt Mutual Fund? Let's assume debt mutual funds have as low risk as FDs and FDs are as flexible as debt MFs. The only difference is in tax treatment. And that both return 8%. After 1 year, you … [Read more...] about Need money within 3 years: Bank FD or a Debt Mutual Fund?
Many of us dislike annuity plans. The rates are low and the income is taxable. You lose flexibility with the money. The income is not inflation-adjusted. So many problems. Still, annuities can add a lot of value of retirement portfolio if purchased at the right age. In this post, let’s try to understand this with the help of examples. We will start with a brief introduction … [Read more...] about Retirement Planning: Staggering Annuity Purchases can Increase Income and Reduce Risk
Every profession requires you to have persuasive skills. You have to persuade your boss to grant you a leave. You have to persuade our team member to agree to your line of thinking. Your boss has to persuade you to work over the weekend. You may say your boss hasn’t really persuaded you to stay work over weekend. But he used his Authority to make you work. You could have been … [Read more...] about The Little Tricks Our Minds Play: How to Avoid being a Victim of Mis-selling?