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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.

Health Insurance Riders

  Health plans are designed to satisfy the specific needs of the policyholders. At the same time, policies are meant to protect the interests of the insurance service providers. Unfortunately, there is great variation among all of us in terms of our risks and requirements, which means that standard policies may not work for all. Most insurance plans have specific features, inclusions, benefits, exclusions, and covers. As these may not be suitable for all policyholders, insurance companies offer different kinds of riders within the policies to allow policyholders to customize plans as per their needs. Purpose of Riders Health insurance riders...
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Choosing the best ULIP Plan for Investment in 2016

What is ULIP? Unit Linked Insurance Plan (ULIP) is a financial product offered by insurance companies. The most distinct aspect about this product is that unlike regular insurance policies, ULIP gives investors the benefits of both, insurance as well as investment. All of this falls under a single unified plan. These have made ULIPs an increasingly popular insurance cum investment plans in India. Following are some benefits of ULIPs – ·         Insurance + Savings This is the USP of ULIPs as they serve the purpose of insurance as well as savings, which make it an extremely feasible option for many policy...
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Turn your Idea into Success through Project Finance

In an ideal situation, when you come up with a brilliant project idea, you will be able to easily find the resources to execute it and make it a success. Unfortunately, the reality is very different. It is hard to have people listen to your idea, understand it, and provide you with the resources needed to implement it. Indeed, before you start talking about your idea, you need to take a step back and think through your motives. Having answers to two important questions: “Why am I doing this?” and “What do I hope to accomplish through this?” is vital. Being...
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Top 6 Plans for Senior Citizens Health Insurance

Different insurance providers offer several different schemes for senior citizens. It is highly imperative to examine the details of the insurance policy thoroughly and stay well-informed of the coverage. Depending on the health requirements and your budget assess all the features of the insurance policies and make an ideal choice best suited to your needs. Let’s look below at some top insurance providers and the salient features for senior citizen health insurance: 1.       Bajaj Allianz – Silver Health Policy – ·         Offers Coverage from age of 46 to 70 years with lifetime renewals ·         Pre-medical tests are undertaken to assess the...
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5 Tips to Avail a Car Loan

India’s automobile industry has been growing exponentially and the market is flooded with new and upgraded models at regular intervals. This gives buyers a whole range of vehicles to choose between, with every automobile manufacturer vying for a larger share of the market. The wider choice, coupled with easier financing for buyers has further fueled the demand for cars in India. Almost 80% of buyers opt to buy cars on a loan. Choosing the best auto loan is not simple and understanding the basics of car financing will help you make a better decision. 1.       Check with Your Bank The number...
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How to lower term insurance premium rates?

An increasing number of people are choosing term plans because of their affordability and higher coverage. Insurance companies consider several factors when determining the premium payable on such plans. A few factors, such as gender and age cannot be controlled by the insured. However, there are certain factors that can be modified to lower the premium on term insurance plans. ·      Excessive smoking or drinking – Both of these habits have negative health effects, which is why habitual drinkers or smokers need to pay higher premiums on an online term plan. Every insurer requires the details of such habits before selling...
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How to Choose the Best Investment Plan in 2016

Choosing the best investment plan in India depends on a lot of factors. Each individual has different financial goals and conditions which lend to the nature of the plan they choose. The Union Budget of 2016 has introduced tax exemption plans and policies to encourage more and more people to invest their money in various places. Here is a guide to help you choose the best investment plan for you: Ø  How much do you Plan to Invest? The capital you have in hand will narrow down your investment options as well. If you have a lump sum to invest then...
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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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