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iPod, bags, tickets, handy cam, hotel bookings and all other top-of-the-mind recall items are taken care of while running away for a vacation or holiday. It is rarely that one thinks of taking a travel insurance policy for self and family. But that’s the fate of almost every kind of insurance except car insurance which is mandatory. It is very important to realise that a small mishap by the airlines or an injury is all it takes to hamper our lovely dream vacation. Insurance is never prioritised till something actually goes wrong. And by then it’s too late to take the insurance po... [More]
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Significant tax reforms have been proposed, effective April 1, 2012. New Tax slabs, and raised exemption levels are some of the proposed changes. Here is a quick roundup of the key tax reforms and its impact on the tax payers. [More]
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For quite sometime now, I have admired the knowledge and acumen of Mr. Rajveer Chauhan, the insurance agent who has sold more than a dozen insurance policies to my parents and me. During a casual chat, he complained that he is unable to sell ULIP plans since the equity market is very uncertain. It came as a surprise because for one – the statement came from an experienced insurance advisor and two – the markets have always remained and will continue to be uncertain!   I was now looking forward to hearing his views and queries on ULIPs and markets. So, I participated in the c... [More]
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Life insurance policies which for long have been bought as a savings & investment instrument and a tax-saving tool may now be back to its original avatar. The amendments in Budget 2012-13 send out a single message – avail life insurance policies for pure risk cover.   The budget proposal has brought in some change that will affect the insurance industry and policyholders. First, all regular premium life insurance policies will be eligible to vbe exempted from income tax each year (under section 80C) only if the Basic Sum Assured is at least 10 times the Annual Premium. The sa... [More]
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Many of us feel that the benefit amount we receive on the maturity of all life insurance policies is always tax-free. However that is not correct because not all life insurance policies will provide you a tax exemption on the maturity amount. Most of the Life Insurance Policies offer tax benefits on the maturity amount but not all of them are tax-free. There are some conditions which a life insurance policyholder has to fulfil after which the policy availed by him/her is eligible for tax benefits. The proceeds received on maturity of the life insurance policy will be exempted from tax if the f... [More]
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In the wake of the Euro zone crisis a lot of multinational companies are restructuring their businesses and trying to rationalise their strategies for the near future. Live today and Fight tomorrow is an approach adopted by many companies irrespective of their size. Salaried people today feel the threat of job security and craving for an extra source of income at the same time. The job security which once prevailed around us is no longer there today. One feels a strong need for building an alternate skill or profession which has the potential to add a parallel income or serve as a backup. It i... [More]
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Now don’t expect me to start off with or relate to Steven Covey’s “The 7 habits of highly effective people”. I am talking of 5 habits and not 7; and I am talking of healthy  “financial” habits that every individual should follow in order to improve his financial efficiency.  Since these habits are healthy financial habits, they should be a part of your regular activities. You can make them your new year’s resolutions if you do not follow them already! Let us go through the 5 healthy financial habits: 1. Habit 1- Self Analysis of Financial ... [More]
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Cashless health insurance claim means that your insurance company directly pays your bill to the hospital, so you don't have to pay any money from your pocket. Here are our tips on how to get cashless claim settlement. [More]
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Life insurance is a financial security for your family in case anything was to happen to you tomorrow. This importance of insurance has been stressed by various financial experts and is known by one and all. Yet, when it comes to taking a policy, investors are still shrouded with various misconceptions in their minds. Here’s clarifying some of the most common ones, to help one make better decisions and plan a much secure life. Myth 1: I am still young. I don’t need insurance now. Fact: The truth of life is that you never know when a calamity could strike. Thus it is never too ... [More]
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A snapshot of the 10 most important finance related news items of 2011 that is sure to have an impact on most investors in some way or the other [More]
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