The need for adequate health cover is not lost on many. However, selecting a health insurance plan that suits your requirements sounds daunting to a lot of people. There are many parameters to be considered before you select a health insurance. Not just that, health insurance plans come in many variants i.e. individual, family floater, top up, super top up and so on. One of the … [Read more...] about How Room Rent Sub-limit can affect your Health Insurance claim?
Life is fickle. Anything can happen. You purchase insurance to protect yourself financially against such unfortunate events. A good insurance portfolio ensures that you (or your finances) are covered against all eventualities. Life insurance proceeds will ensure that your family achieves the financial goals in your absence. A health insurance plan will ensure quality health … [Read more...] about Do you need a Personal Accident Insurance Plan?
You have been planning to purchase health insurance for your parents. However, you have found the annual premium prohibitively expensive. I had discussed a few health insurance strategies for the parents in one of my earlier posts. Must Read: Health Insurance Strategies for your parents In the above post, I had missed out on discussing group health insurance covers offered … [Read more...] about PSU Bank Health Insurance can be a boon for senior citizens
The cost of quality healthcare has risen sharply. By purchasing a health insurance plan, you can ensure quality healthcare for your family. As your family grows or as the healthcare costs rise, you may have to increase your health insurance coverage. You can either increase health cover/Sum Insured in the existing plan or purchase another health insurance plan. Enhancement of … [Read more...] about Claiming from Multiple Health Insurance Plans
There are two pillars of personal finance. Wealth Accumulation and Wealth Preservation. Wealth accumulation is about taking steps to accumulate money for your financial goals. Wealth preservation ensures that your accumulated corpus does not take a significant hit in case of any unforeseen event and you stay on track. Personal Finance is Personal There is no one size fits … [Read more...] about Two Pillars of Personal Finance
The tax on LTCG from equity funds was introduced in Budget 2018. This made ULIPs attractive to a number of investors. The insurance companies have jumped onto this opportunity and have launched a number of Unit-Linked Insurance Plans or ULIPs. In this post, let's look at the two broad categories of ULIPs. Type I and Type II ULIPs. The only difference between the two types … [Read more...] about Variants of ULIPs you must be aware of
No one plans to fall sick or get hurt in a road accident. Well, life throws surprises and sometimes bad ones. Such unfortunate incidents entail a lot of physical and emotional trauma. The last thing you want to worry about at the time is the cost of treatment. Quality healthcare is quite expensive. Add to that high medical inflation which is often quoted to be in excess of 15%. … [Read more...] about Things to consider while purchasing health insurance
Ever wondered why your insurance (and investment) plan is not providing returns anywhere close to what was shown to you at the time of purchase? Well, there can be multiple reasons. Perhaps, the markets did not perform as well as expected. Or may be, your insurance agent did not disclose the complete information during the sales meeting. There is nothing much you can do if the … [Read more...] about The many tricks used by Insurance companies: Part I
Sunil is 23 years old and just started his professional career. He saves about Rs 15, 000 per month and is looking for invest for his future. He has been advised that he should start investing in equity mutual funds through a systematic investment plan (SIP) and purchase a cheap term insurance plan. The advice sounds perfect. Since he is young and can take greater risk, he can … [Read more...] about When should you buy life insurance?
Mr. Sharma was a smart man. He made sure that his family did not have to make any compromises even if something were to happen to him. He had bought a term insurance cover of Rs 1 crore. Additionally, over the years, he had built up an investment portfolio of Rs 70 lacs. Of his total investments (Rs 70 lacs), 70% was in equity mutual funds to provide for his children’s … [Read more...] about Pass your financial knowledge too, not just your investments