Section 80DD Deduction Limit pertains to those individuals who have a disabled person dependent on her/him. The genesis of the thought of having a separate section is that medical expenses of a disabled person are generally very high, and inflation in medical costs makes it even steeper by the year. For some families, it is a high and unavoidable expense. India's infrastructure in general is a challenge for the disabled and that makes it even more difficult for them to be fully independent. … [Read more...] about Section 80DD Deduction Limit – Expenses & Maintenance of Disabled
Search Results for: motor
IDV or Insured Declared Value is the market value of your car or bike/two-wheeler at a point in time. It is based on the manufacturer’s current listed selling price of the same model of the vehicle, and the age of the vehicle. A standard depreciation table for the vehicle is used for the calculation of IDV, and therefore the insurance premium when renewing car/bike insurance. Context of Using IDV : Insured Declared Value is the Sum Insured of your vehicle and is highest when your … [Read more...] about IDV for Car Insurance – Should I change it at Renewal
Car Depreciation Rate comes into play at the time of car insurance renewal. But before we delve into that, let us understand the meaning of depreciation and why it is necessary. Car Depreciation Rate - Concept and Need The values of all vehicles in the world depreciate over time. That's because in original brand new condition, it is a perfect machine. However, once you drive it out of the dealer's place, there is wear and tear in all of the vehicle's parts, especially the critical (and … [Read more...] about Car Depreciation Rate and IDV Calculator
Don't ever buy car insurance or two-wheeler/bike insurance without taking the benefit of your No Claim Bonus! It can give you a significant discount on your premium (as high as up to 50% on your Own Damage premium) and that surely makes it something one wouldn't want to let go off! In fact, the No Claim Bonus is like a reward for you, the person owning/driving the vehicle and since you deserve it, make sure you grab it! No Claim Bonus (NCB) - Who can claim it No Claim Bonus is a reward to … [Read more...] about No Claim Bonus (NCB) for Car Insurance – get up to 50% Discount!
Stolen, damaged or lost baggage, misplaced passport, missed flight - there are hundreds of things that can go wrong when you are on an international or domestic trip. And it can become a bigger nightmare if the travel insurance company rejects your claim for some reason. Reasons for rejection can be varied - from as significant as exclusion of benefits to as frivolous as a human error such as mentioning a wrong date or age or date of travel. Insurance companies in India do not try … [Read more...] about Travel Insurance – How to Avoid Claim Rejection
Deductible and Voluntary Deductible - when buying insurance, you would encounter either/both these terms, especially when you compare insurance plans or go through a product description, leaflet or brochure. These terms have high monetary implication either on the premium you pay, or the insurance cover/benefit you get. So it is rather important to understand what they mean. These terms are common to several types of insurance products - e.g. Overseas Travel Insurance, Health … [Read more...] about Voluntary Deductible – How to Reduce your Policy Premium