Personal Tax Rates The tax rates have remained the same as in the earlier year (A) For Individuals, HUFs, AOPs, BOIs [not covered in (B) & (C)below] Income Rate of Tax (%) Tax Rate (%) Cess @ 4% (%) Effective Rates (%) Upto Rs. 2,50,000 0.00% 0.00% 0.00% Rs. 2,50,001 to Rs. 5,00,000 5.00% 0.20% 5.20% Rs. 5,00,001 to Rs. 10,00,000 20.00% 0.80% 20.80% Above Rs. … [Read more...] about Direct Tax – Budget 2019
IRDA has announced the Claim Settlement Ratio for 2017-2018 in Dec 2018. This is valid as most recent till Dec 2019, when the next year’s data will be published by the Regulator. If you are looking for a term insurance plan, you MUST know the IRDA Claim Settlement Ratio (CSR) before making the decision. At this point, we must tell you that in spite of the fact that overall CSR is NOT the best way to decide on your term insurance plan, you cannot ignore it because it is one of the best available … [Read more...] about Claim Settlement Ratio for Term Insurance by IRDA : 2017-2018
How much Life Insurance do you need? In simple terms, Life Insurance should provide your family the same amount of money in case of death that you would provide them if you would remain alive. This is called your Human Life Value or HLV for short. As an example, let us calculate the Human Life Value of a 35 Years old person who hope to work for the next 20 years till the age of 55. Let us assume that he earns a post tax income of Rs. 50,000 per month i.e. Rs. 6 Lakh per annum. If we assume … [Read more...] about Life Insurance – How Much Do You Need?
Now the question was to identify the right companies that my family could rely on when I was no longer there. I was considering purchasing more term insurance. I had a cover of 2 Crore but had realized that it was too less. The first thing I did was to go to mintwise.com to check out the products with the lowest premium for my age profile. Unsurprisingly, smaller or newer companies offered products with lower premium. Names like HSBC Canara, Edelweiss Tokio Life, Future Generali were visible on … [Read more...] about The Best Term Plans of 2019
If you are considering a purchase of a Health Insurance policy for yourself or your family, Well Done, you are making a wise decision. Why Health Insurance: Life expectancy has moved up continuously over the last few decades. This means that we may need to manage multiple diseases or medical conditions in our lifetime. Luckily, Medical Technology has made rapid strides in fighting most diseases including big killers like cancer, heart disease, diabetes etc. The only thing that we need is Money. … [Read more...] about The Best Health Insurance Products
We all love our cars and give due care to their safety & maintenance. We all consider buying motor insurance as part of our car care plan. In India, buying a third party motor insurance is compulsory, without which driving on the roads will be considered as illegal. Motor insurance in India has two broad sections - Third party liability & Own damage cover. If you choose to cover the insurance for own damage along with mandatory third party liability, then you should opt for a … [Read more...] about Zero Depreciation Insurance Cover for your Car