Imagine you are the father of a newly born daughter. And since your spouse is a housewife and your parents are retired, you know you are the only one bringing money on the family’s table. Given your responsibilities and understanding…
Category: Life Insurance
Income Tax on Life Insurance Premiums & Maturity in India (Updated 2019-20) – All you need to Know
The real purpose of purchasing life insurance is to avoid tragic stories like this. But many still wrongly feel, that life insurance is a waste of money. But luckily and thanks to our government’s tax-saving policies, they still end up…
Insurance requirements change with Age & Tax Benefits on Life Insurance
You already know why life insurance is important. Atleast for common people like us who still aren’t rich enough to ignore it. After all, being underinsured and dying can be tragic for the dependents. But one of the major problems…
Confused with Different Types of Term Plans? Here is How to choose the Right Term Plan
When it comes to buying life insurance for yourself, the best option is to go for a simple term insurance policy. Period. With that aside, your next question would be - which is the best term insurance plan to buy?…
Answers to 20 Important Questions about Term Life Insurance
Term life insurance is the most basic form of life insurance. And I can safely say that it’s the most effective and the best form of insurance. Why? Because it gives you a very high insurance coverage (sum assured)…
Till what Age should you take Life Insurance?
When purchasing a life insurance, people get confused whether it is wise to have a cover till just the age of 60 or to keep it till 70 or even the age of 80-85. And then if the confusion wasn’t…
Is a Rs 50 lakh or 1 Crore Life Insurance Enough?
Rs 50 lakh or Rs 1 crore - these don’t seem like small amounts. But whether these amounts are enough (for life insurance) or not is another question. Most people are unable to calculate the right insurance amount. To be…
A Portfolio to ensure that Life doesn’t F*** You!
Yes. There is a portfolio that you should create if you don’t want life to f*** you. And no, it does not include any shares. I am talking about having an insurance portfolio. Many of you may feel that this…
Real Life Example – Tragic Consequences of being Under-Insured
This is a sad example. And of a close relative of mine. Without disclosing the real identity here, I hope this example can help convince those - who still have doubts about having a big enough life insurance cover. Almost…
Why you should convince your Close Relatives to get Insured too?
Shouldn’t you just be bothered about getting you and your immediate family’s life and health insured? Ofcourse you should be. Immediate family comes first. And you don’t want to leave their health and post-your-death-family-expenses to chance. Isn't it? So definitely,…
Insurance is not Investment. Don’t Mix the Two!
Is life insurance a good investment? If you want a one-word answer, then its NO. Life insurance is not an investment. Period. Comparing insurance and investments and trying to pick either of two (or combining them) - is one of…
How much Life Insurance to Buy & How To Calculate the Right Amount?
A reader had a very specific question in Personal Financial Concerns Survey 1.0. It was about calculations related to life insurance amounts. This is what he had to say: In past, I have bought insurance policies for saving taxes and…
4 Common Mistakes to Avoid while Buying Your Term Insurance Plan
I have always been of the view that it’s wiser to keep investments separate from insurance. And that means sticking only to plain-vanilla term insurance plans instead of moneyback endowment policies. Buying term insurance is very important to fulfil your…
292 Words to Change Your Financial Life…Today!!
This post is inspired by Rohit’s brilliant poston how to manage your money. I am borrowing few of his ideas & adding a few myself.Never depend on just one source of income.Save atleast 20% of what you earn from all…