Investment, Financial Planning, Mutual Fund & Income Tax Queries

Life Insurance Term plan for 29 years old married Individual

I am 29 years old. I am married and have one son. My monthly salary is Rs 25,000. I do not have Life Insurance Policy. Please suggest how much coverage I need and also please suggest a Term Life Policy

Mar 2, 2014 by Dhananjay, Kolkata | Life Insurance

Insurance offers financial security to your family, in the event of an untimely death. There is a process to go about selecting a life insurance policy. (1) You should decide the amount of your insurance cover that you would require. While there is no exact formula for this... Read More

Calculation of Floater Health Insurance Plan premium on renewal

I have a family floater plan, which also covers my 61-year-old mother. What is the process followed by insurance companies to review their premium, especially if senior citizen are included in cover. Is there a maximum age for renewal in a family floater policy?

Jan 9, 2014 by Ajay Singh, Trichy | General Insurance

Most insurance companies review their portfolio and increase premium rates, from time to time. The periodicity of the review and revision varies from one year to few years. Please note the review is at a company level and not specific for any policy. Some policies also have a clause... Read More

How Income Tax rebate can be claimed on Family Floater Health Insurance

I have a family floater health plan, which also covers my parents. The premium is Rs 25,000. How much can I claim as deduction? This premium also includes Rs 1,000 for a personal accident rider. Is this sum exempted as well?

Jan 8, 2014 by Ranjan, Jaipur | Taxation

Under Section 80D of the I-Tax Act, 1961, the premium paid for a health insurance policy can be deducted from a person's taxable income for the year. The amount of deduction available on a health insurance policy for self, spouse and dependent children is up to Rs 15,000... Read More

what is the best investment plan other than share market

I am 28 years old and have lost my investments substantially in equity markets. I am single and have no dependants and can invest up to Rs 25,000 per month. I do not have any faith in investing in equities. Is there an alternative? I plan to retire by about 55 years.

Jan 7, 2014 by Ranjan, Delhi | Systematic Investment Plan

Investing in equity markets requires careful research, active management and an adequately diversified / balanced portfolio. Since you are young and have already lost money by directly investing in equities, it is suggested that you invest in diversified equity mutual funds... Read More

What are the best investment plans to get better than FD returns

I am 49 years old. I have a corpus of Rs 90 lakhs. My bank has assured interest rate of about 9.5% in FD, for a 5 year period. Can I invest somewhere to earn higher returns? I understand risk versus return, and want a high degree of assurance with regards to my principal investment. Please suggest suitable asset allocation and schemes.

Jan 5, 2014 by Ram Rajan, Mumbai | Asset Allocation

Since you want a high degree of assurance with respect to your principal, you can put 50% of your money in a fixed deposit. The rest should be invested in equity or a balanced fund. However, we advise you not to invest the entire amount directly in a balanced fund... Read More