Let's get the context on Health Insurance first before we delve into its benefits. When you were in school, you would have probably learnt this from your teacher... "If Wealth is lost, nothing is lost, If Health is lost, something is lost, but If Character is lost, everything is lost." Well, we cannot advise you about your character but we can surely tell you from what you just read that Health means something in our lives. Something that is more important than the … [Read more...] about Health Insurance – If you don’t have it yet, you surely need it
Search Results for: health
ICR or Incurred Claims Ratio for Health Insurance Companies in India is published by IRDA every year. In Jan 2014, IRDA published the incurred claims ratio for Health Insurance 2012-2013. Incurred Claims Ratio is nothing but the total value of all claims paid by the company divided by the total amount of premium they collected in the same period. This is generally calculated for each financial year. What does Incurred Claims Ratio indicate? Incurred Claims Ratio for Health … [Read more...] about IRDA Incurred Claims Ratio for Health Insurance 2012-2013
This article is applicable for FY 2014-2015 and is updated as per the Budget announcements on July 10, 2014. Over the years, especially in the recent past, we’ve seen increasing attention (and also action) in the area of personal finance and the tax benefits that they provide. We have seen our Finance Ministers and doing a fine balancing act between the personal aspirations of its people and the demands of the Central balance sheet. We have seen our Financial Regulators constantly … [Read more...] about 80C, 80D, 80CCC, 10(10d) – Save Tax with Life Insurance, Health Insurance, Pension Plans
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
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