With start of new financial year 2012-13, a lot would change from today in personal finance space. Here is the list. Good News: Increased Interest on Small Savings Scheme like PPF, NSC, etc: The government has increased interest rates on post office deposits like PPF, NSC, Fixed Deposit, Recurring Deposit, and Senior citizen Scheme in [...]
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Claim Settlement Ratio is probably the most important factor while buying insurance. This becomes even more critical for Life Insurance as you would like your dependents to run pillar to post to claim your sum assured in case of unfortunate death. The recently published Insurance Regulatory And Development Authority - IRDA Annual report 2010-11 has the [...]
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Life Insurance in India is more to do with Tax saving and Investment rather than actual “Insurance”. Budget 2012 has taken cognizance of this fact and has proposed to increase the sum assured limit as a multiple of the premium in order to enjoy tax benefits. Under section 80C of the Income-tax Act, premiums paid [...]
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Bajaj Allianz Guaranteed Maturity Insurance Plan: It is a single-premium unit-linked insurance plan (Ulip) that promises a maturity corpus of at least twice the premium paid. It also provides an insurance cover during the term. The minimum premium under this plan is Rs 5,000, which is also the cost of one guaranteed maturity certificate. Under [...]
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Go Digital! is the buzzword today and most of companies are aggressively going online. Today you can buy books to insurance, everything on net. Thankfully Indian regulators are not behind. Weather you are investor or consumer, you can register your grievances and complaints online and rest would be taken care by regulators. Here’s a brief on [...]
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This post has some common rules and regulations of personal income tax in India. This would help you to further understand the intricacies of taxes. Income Tax Slabs/Rates for Financial Year 2011 – 12 1. Women assesses Upto Rs. 1,90,000 – Nil From Rs. 1,90,001 – Rs. 5,00,000 – 10% From Rs. 5,00,001 – Rs. 8,00,000 – 20% Above Rs. 8,00,000 – 30%
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It’s not a trick question or a marketing gimmick! And if you have been a regular reader of this blog you know that nothing in this world is FREE! But then there are exceptions – always! Imagine this – You are 28 year old healthy non-smoking male and need an insurance of Rs 49 Lakhs [...]
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Insurance in itself is a complex product and ULIPs (Unit Linked Insurance Plans) make them even more complex. All the ULIPs are different with different features, different clauses and bonuses & expenses structure which at times is even difficult for an expert to comprehend. Infact I remember seeing ULIP benefit illustration for the first time [...]
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I have compiled a list of Term Insurances Plans offered by various companies. The table below shows premium payable for a healthy 28 year old non-smoker Male for an insurance term of 25 Years.
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In the last post I wrote about the Claim Settlement rate for Indian life insurance companies. This time I wanted to check how much time Life Insurance companies take to settle a claim! Claim settlement time also becomes an important factor in choosing any life insurance as you don’t want your survivors to wait indefinitely [...]
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Deciding which company to choose for Life Insurance has always been tough and with so many new entrants customers are spoiled for choice. It’s always a dilemma which factors to look at while choosing your life insurance provider – cost, convenience, past performance, claim settlement rate, etc. I think the most important factor should be [...]
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Insurance companies have always been on the wrong side when it comes to their distribution/ sales channel and expense management. They have often been an eyesore for the exorbitant commission that they reward to distributors and sellers of the policies, which in turn also lead to lot of miss-selling. But now things are changing bit [...]
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Have you the advertisement of Bajaj Shield Plus? It shows people in a bus making fun of a person investing his money in fixed deposits and then telling him advantages for Bajaj Shield above fixed deposits: It gives a guaranteed return of 170% It gives insurance It gives tax benefit And so it’s better than [...]
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One of my friends has been blessed with a daughter a few days back & he’s on cloud eleven. Well but with such bundle of joy comes a lot of responsibilities. So as a responsible dad he wanted to take a life insurance cover. How much insurance he requires is a different subject matter altogether [...]
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