Health insurance plans get benefit under section 80D in the form of deduction from taxable income upto Rs.15,000/- for non-senior citizens and upto Rs.20,000/- if senior citizens are covered. But many a times for a normal household with parents under the age of 45 and 2 children, the premiums may not come upto the levels [...]
Recent posts in Insurance category
What are mortality charges on life insurance policies?
Do you benefit from reduced mortality charges if you buy a life insurance at a young age? The answer is yes based on the simple logic that higher the age higher is the mortality charges. For example, a 25 year old will obviously have a higher life expectancy than a 55 year old and hence [...]
Is it ULIPs or term insurance for you? Find out!
ULIPs are similar to mutual funds except that they provide life cover, tax benefits and need to be kept for long term. On the other hand, term insurance is actually insurance where your dependents get sum insured in case you die, but nothing if you outlive the insurance term. Both term plan and ULIP do [...]
Term or whole life insurance! Which one for you?
Experts advise that riders should be taken irrespective of the insurance policy as this will help retain the insurance benefits according to the age profile of the buyer. For example a buyer with children can opt for the ‘waiver of premium’ rider on his life policy which will ensure that the [...]
ULP, best of both endowment and ULIPs?!
If you are someone like Rahul who needs a life insurance policy that would take care of his family needs upon his death and returns upon the maturity of the policy even during his lifetime the ULP could be your best option! In short the ULP is a perfect combo of the death benefits an [...]
In favour of a reducing balance loan
At any given point in time, an X% flat rate is always more expensive than an X% annual reducing balance rate. The effective total interest paid out is also influenced by the time periods the reducing balance is recalculated, which could be monthly, daily, yearly, quaterly or half yearly. These time periods are known as [...]
HLV - The key to buying the correct insurance
Make provision for important events in your dependents’ lives. Your dependents will experience certain important life events, and you have to provide for these events. E.g. illness of the dependents, children’s education and marriage. Also once [...]
IOB wins LIC’s ‘Bima region’ award
The Life Insurance Corporation of India has awarded Indian Overseas Bank, Coimbatore region, with the ‘Bima Region’ award for excellence in insurance business.
OBC to open more offices abroad
As part of its global expansion plans, the State-run Oriental Bank of Commerce plans to open more offices in Hong Kong and Africa.
Know the key ratios to choose the right stocks!
P/E ratio (Price Earnings Ratio) shows what the market thinks about the earnings potential and future business forecast of a company. Companies with high P/E ratios are the darlings of the investors and thus enjoy a higher market rating. In order to use the P/E ratio properly, take into account the future earnings and growth [...]
How to build wealth from equities? Some pointers!
Once you develop an investment plan you have got to stick to it. Asset classes, especially equities can move wildly based on political, global and other news. Having discipline while investing will benefit. It also means staying away from a potential investment when the risk / reward are unfavorable. It is the deciding factor between [...]
Employer sponsored health cover. Is it enough?
One very important aspect we need to understand is that after the age of 45 no insurance company will provide a health policy without medical check examination. Once the medicals are done and the individual is prone to even 0.001% of any disease, that particular ailment will be excluded from the [...]
Have you considered a top-up insurance?
Rajiv looked harassed and upset. When he saw Raghav he quietly handed over some sheets of paper which was the hospital bill for Rs. 5.25 lacs and a faxed letter from the insurance company saying that they would pay up only Rs. 2 lakhs. Rajiv explained that their group medical insurance covered parents only upto [...]
Forgot your premium? Here is what you can do!
What benefit would Ajay get out of reviving an old policy? For one, he would get the benefit of having to pay regular premiums calculated when he was 28 - which would be less than the premium for a similar, new policy taken at the age of 32. Secondly, he will continue to get all [...]
How to go about insuring yourself against terror
Terror insurance is considered to be a difficult product for insurance companies, as the odds of terrorist attacks are very difficult to predict and the potential liability enormous. This combination of uncertainty and potentially huge losses makes the setting of premiums a difficult aspect. Most insurance companies therefore exclude terrorism from the insurance coverage.
Whacky Insurance Covers – Body Parts!
Little is known about a wine taster who insured his nose for $8 million. The man’s name is Ilya Gort, and his nose is so vital to his job at his French vineyard that Lloyd’s of London wrote an insurance policy protecting him should he lose either his nose or his [...]
Are you insured against floods?
Flood insurance denotes the specific insurance coverage against property loss from flooding. The protection offered by most policy covers losses incurred due to some failure at the home itself. However, Flood insurance indemnifies the insured for the loss of property that occurs specifically due to overflowing water bodies or flood. [...]
How does a premium waiver rider benefit you?
One of the most popular and important riders added to an insurance policy is the ‘Waiver of Premium’ rider. If this rider is a part of one’s insurance policy, it ensures that the premiums to be paid by the insured are waived in the event that the insured becomes ‘completely disabled’ or loses his source [...]
Understanding the types of life insurance
When considering a life insurance policy with riders, make sure to understand the exclusions in the policy. For example, under Term Insurance, if the insured person commits suicide, whether sane or insane, within one year from the date of commencement of a term policy, the cover will become void, i.e. the nominee cannot claim the [...]
Tips to select the right financial planner
When we set out on a journey, we need a clear map, showing us the directions we need to follow to reach our destination. In the same way, whenever we set out to reach a financial goal, we need directions to help achieve it. This guidance [...]
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