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Finance Forum India

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Rachita Kotian is an independent blogger and writing has been her passion for a long time. A literature major, she loves exploring the world of health, lifestyle, travel and finance. When she’s not writing, she’s most likely listening to music, cooking, surfing the web, or catching up on the latest flick.

Section 80CCD Tax Deduction – Contribution to NPS

The National Pension System (NPS) is available to individuals aged between 18 and 60 years. The government-backed defined contribution retirement plan can be chosen by all private sector employees and is mandatory for government personnel. Objectives of the Pension Scheme ·      Provide income in the retirement years ·      Market-based returns in the longer duration ·      Offer financial security to seniors belonging to all strata of society Who can join the National Pension System (NPS)? ·      Central government employees ·      State government personnel ·      Corporate employees ·      Individuals under the All Citizen Model Benefits of NPS ·      Transparent – Subscribers can view...
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Last Minute Tax Saving Investment Options

With the last quarter of the financial year, individuals scurry to find investment avenues that can reduce their tax liabilities. Some of the commonest avenues used by investors include public provident funds and tax savings schemes offered by financial institutions. What is National Pension System (NPS)? ·      Government-approved pension scheme for individuals aged between 18 and 60 years ·      Mandatory for state and central government employees and optional for other employees ·      Minimum annual contribution of INR 6,000 in Tier I ·      Includes two kinds of accounts; namely Tier I and Tier II §  Tier I is a basic pension account...
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How to Compare Money Back Policy in India

A traditional insurance policy that pays a lump sum amount in case of the demise of the assured is known as a money back plan. The beneficiary or nominees receive death benefits if the policyholder passes away during the policy period. In addition to death benefits, these insurance plans offer staggered survival benefits, during the policy term. In other words, money back plans are endowment policies with the additional benefit of regular liquidity. Benefits ·      Insurance coverage during policy term ·      Regular payouts for entire period ·      Good investment option in the longer period ·      Less risky compared to other investment...
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Individual Mediclaim or Family Floater: Which to Choose?

Health insurance is the need of the hour today. The addition of health insurance cost is a must in your annual financial budget. It provides the assurance of payment of your medical expenses whenever in need, so that you’ve one less thing to worry about. Also, there has been a tremendous rise in the cost of healthcare over the years, so if you don’t want to burn a hole in your pocket better opt for a health insurance policy. While opting for a health insurance policy or Mediclaim, families are often muddled about which one to opt for, whether an individual...
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Steps to Succeed as an Entrepreneur

Like in other developing nations, small and medium enterprises (SMEs) play a crucial role in the overall economy of India. This sector contributes to the development of entrepreneurial skills, generates employment and brings in income from exports. In the last decade, several reforms by the government have been initiated for the success of SME entrepreneurs. Some of these include products reservation, debt restructuring, sick unit rehabilitation, preferential procurement of goods from SSIs, and fiscal concessions.   Credit supporting the entrepreneur The huge potential latent within the SME segment has resulted in several financial institutions and banks making provisions to provide sufficient...
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Best Investment Options for 2016

Based on one’s financial goals and objectives risk taking appetite, investors in today’s world can choose from a wide range of offerings, preferably by diversifying money across investments. However, it’s important to understand that safe investment options or any kind of investment is subject to risks. Hence people should really aim for a best investment plan that offers a reasonable return and yet not put one’s portfolio at high stake. Here are some options that might fulfill this objective: ·         IPO Investing in IPO can be seen to offer promising returns based on the IPO growth in 2016.  The growth of...
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Why Gift Yourself Term Insurance This New Year?

A term insurance policy is the most basic kind of life cover. The insurance company provides life coverage to the insured during the policy term. In case the insured passes away during this period, the sum assured is paid to the beneficiaries. These insurance plans do not offer any survival benefits on the expiry of the policy term. Benefits of Term Plans ·      Affordable – Compared to other kinds of life insurance plans, these policies are available for lower premiums. Individuals can procure higher coverage for a smaller amount, which makes it more affordable to most people. In addition, the premium...
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Basic Factors to Consider Before Opting for Health Insurance in 2016

Mr. Verma was contemplating availing a health policy to protect himself and his family in case of any emergency. Despite his sincere efforts to find the best option and compare policies he only found himself more confused with the various features. Mr. Verma isn’t alone in his confusion. Thousands of consumers struggle to understand the basics of health insurance, and many land up buying plans that don’t really meet their needs. To help people like Mr. Verma and others make a better-informed choice, here are some factors to consider:   Cashless Medical Claim: Before you decide to buy this kind of...
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All You Need to Know about Two Wheeler Loans

Everyone craves for the comfort that comes with owning a vehicle. Having a faster and hassle-free means of transport is not just convenient, but it also gives you a sense of independence. Whether on the busy roads of a big city or the narrow streets of a small town, a two-wheeler is the ideal vehicle for commuting in India, especially for individuals or small families. But getting a two-wheeler is certainly easier said than done. Like any major purchase, there are a number of things to consider before you buy your own motorcycle or scooter. You would naturally wish to buy...
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Factors Affecting Life Insurance Premiums

Insurance premiums are based on a range of different factors. Sometimes, it can be quite confusing to the common man to understand why their premiums are being charged more than that of others. Many factors are taken into consideration before finalizing the premium of online life insurance. Below mentioned are some of them. Age: Age is an important factor while taking life insurance. The younger you are the lower your premium would be. This reason behind this is that your lifespan is much more when you are younger. It is always better to buy a policy when you are young. Gender:...
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