If you are a senior citizen (above 60 years) or have a parent who is >60 years of age, this article is for you. On Aug 15, 2014, the Govt. of India re-launched a scheme that benefited 3.16 lakh senior citizens in the past - the Varishtha Pension Bima Yojana (VPBY). In our view, the scheme is an immediate annuity scheme and a wonderful one to opt for senior citizens especially in the low to middle income segment - gives 9.38% returns (through an annuity) for the entire LIFETIME of the … [Read more...] about LIC Varishtha Pension Bima Yojana 2014-15 with 9.38% Returns
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You must read this if you have a traditional LIC policy, the one that gives bonuses every year. LIC has sold more than 25 crore policies till date, and it is very likely that you as well, have a policy. What is also likely is that your policy is a traditional life insurance policy, because it is the most predominant type sold by LIC agents. For whatever reason you bought it, what is also probable is that you are looking to find out what are the returns you get from a traditional LIC … [Read more...] about LIC Traditional Life Insurance Policies – How the Bonuses add up
The Senior Citizen Savings Scheme (SCSS) was initiated by the Govt. of India far back in 2004, and has been a great investment option for Senior Citizens ever since. Senior citizens should not take the risk of investing in Equity since the time horizon for investment comes down substantially after age 60. What if the money is required for some medical reason, or for some other emergency? What if the principal itself is lost? How can the money that is already there today be conserved and grown … [Read more...] about Senior Citizen Savings Scheme (SCSS) – A Good Investment Option
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
If you have clicked on this title and reached this article, it is likely you do not have an Emergency Fund in place yet and are keen to know what it is and how to create it. If yes, you are one of millions in India who perhaps didn't feel the need for, or perhaps never had the circumstances for having an Emergency Fund. But hey, do you know that creating an Emergency Fund is the FIRST thing to do when you make a personal financial plan? The absolute first. Everything else, your … [Read more...] about No Emergency Fund yet ? … That’s an emergency!
One of these statements is false. Guess which one. 1. 21% of the population of Netherlands lives below sea level. 2. Watermelons can be cubical in shape. 3. In a pack of cards, the king of spades has no moustache. 4. I will earn an income till I am 100 years old. Ready with your answer? What is it? No.4? Are you sure? Well, hold on to your answer and you can check it as you read this story. Well, actually this is not at all a story. It is a hard and true … [Read more...] about How I will Earn an Income till I am 100 years old!