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Finance Forum India

Share your thoughts on finance education, economic developments, capital markets movements or your professional experience in the field of finance.

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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.

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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ELSS Funds Simplified

Equity linked savings schemes (ELSS) offered by mutual funds are a good investment avenue for investors with the risk profile to save tax as well as generate higher returns on their investments. Here we look at frequently asked questions pertaining to this category.    1.       What is ELSS? ELSS are schemes offered by mutual funds, which allow investors to save tax under section 80C of the income tax act. Investments up to Rs 1.5 lakh in the schemes are allowed as deduction from taxable income as per the income tax laws. However, to claim benefit, investment in these fund need to be locked...
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Factors that impact your Life Insurance Premium

Life insurance is an excellent way to provide financial protection to your family in case of an untoward incident, but this is also an expensive investment. If you are able to save even a small amount on your monthly premium, the cumulative savings over the years can become a major amount. Most of the life insurance companies consider some major factors while determining the premium on your life cover. While a few factors may be beyond your control, many of these are controllable and you need to take advantage of these to reduce the premium amount. Age of the person: This...
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Why should you invest in Mutual Funds?

When looking for investment opportunities, almost every investor finds it extremely challenging to choose from a plethora of options. One can choose from so many possibilities including stocks, bonds, shares, and money market securities, however, each one of these has its own set of challenges and benefits. Mutual funds allow investors to pool in their money into different varieties of securities, managed by an experienced fund manager. You can choose from a variety of products such as exchange-traded funds, Fixed Maturity schemes, and Sectoral Funds amongst others. So why should an investor choose to invest in mutual funds over other options...
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Top 5 Benefits of National Pension System(NPS)

  The new pension scheme announced in 2009 is an economical and lesser known government approved plan for investors aged between 18 and 60 years. The scheme was launched by the Pension Fund Regulatory and Development Authority (PFRDA), with a minimum contribution set at INR 6,000 per year. 1.    Lower Costs The national pension scheme has minimum cost at 0.25% of the invested amount to be paid to the intermediary as the fund management fee. In comparison, other investment avenues like ULIP pension plans and mutual funds charge 1.35% and 1.25% respectively. The lower costs result in huge savings over a...
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Banking With Kotak Mahindra Bank since Childhood

I remember the first time I visited a bank with my mother to open an account for me. I was a minor then and both my parents owned a Savings Account in the same bank which they had been using for years. I remember her telling me how other banks had asked for tons of paperwork because I was below 18 years of age. Before late I was depositing my tiny savings into the account which of course was a joint one. The name of the bank: Kotak Mahindra. A decade later I am just amazed how far Kotak Bank has...
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Helpful Tips to Get the Best Auto Loan

We’ve all had dreams of owning our own cars, if not driving them, from the time we’ve been young boys or girls. Buying a new vehicle is a large investment and most buyers depend on loans to make such a purchase. This does raise a lot of concerns and many buyers can get intimidated when scouting for the best deal. Shopping around for an automobile loan should no longer be stressful however, as the market today offers buyers plenty of options. The automobile sector in India is booming like never before and consumers are the main beneficiaries, as they are presented...
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How to Buy Health Insurance in India

During the last 5 years, the health insurance industry has undergone several changes. With new regulatory guidelines, the overall sector is standardized. As a result, there has been a significant rise in the number of people opting for health insurance plans. Unfortunately, most consumers tend to make ill informed decisions and later find themselves stuck with a plan that does not suit them. Standard medical policies have several new features as insurers compete to grab market space. Buyers need to keep in mind that it is now mandatory for all of these policies to be issued for life. Moreover, insurance companies...
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Comparison of Features of Term Insurance and Endowment Plans

A sensible financial plan is one that strikes the right balance between immediate needs, long-term requirements, and protection from risks. The best way to plan your long-term needs is to opt for investments that generate good returns over the long run. Insurance is the simplest and most effective way to protect your family from risks like sudden death of the breadwinner. Instead of treating insurance and investment as independent activities, you should try to create a strategy where both options complement each other. Safeguarding your family from risk by going in for insurance, and combining it with sensible investments is the best...
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Mutual Funds Basics: Things You Must Know

What is a Mutual Fund? A mutual fund is an investment option, creating a pool of funds from several investors and investing it in bonds, stocks and other type of securities. It’s like buying a piece of pie, the owner of the mutual fund gets a proportional share of the fund’s income, losses, expenses and gains. You can make profits by investing in mutual funds in three ways – 1.       Income is earned from interest on bonds and dividends on stocks. Income received by a fund over a year is paid out completely to fund owners in the form of a...
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