Women should be Financially Independent

“Women should be financially independent. It doesn’t matter who your father is, doesn’t matter who your brother is, doesn’t matter who the man in your life is, you need to be responsible for your finances and be financially independent “Priyanka Chopra” The role of women in society is changing. The number of educated girls is increasing and they are coming out with flying colours in every sphere of life. They are now career-oriented and are being commissioned into Defence & even Flying Combat Aircraft which were once upon a time dominated by males. Indian born Dr Swati Mohan recently led […]

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Benefits of engaging a Registered Investment Adviser!

Finance is difficult for many investors due to a lack of knowledge and time. When investors desire to seek help, they come across investment advisers, Financial consultants, wealth managers, etc. The investors get confused about the designations and are not aware of the difference between SEBI Registered Investment Advisors and Distributors. The investing public has the wrong notion that distributors who are actually selling products are advisors. This wrong perception makes them engage with distributors and seek “advice” from them. The “advice” which they offer is tailored to sell the product. Since the distributors are remunerated by way of commission […]

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New Year of hope:2021

The year gone by is unforgettable. We have survived the challenges, thrived and adapted. We learnt how to handle our health better; exercises, meditation and enough sleep. This has helped us to discover our body, mind and emotions. We learnt the limitations of the false ego originating from wealth, position and power. There was enough time to introspect and learn crucial life lessons. How many would have befriended pains and challenges voluntarily? It was a big opportunity in disguise. It taught us big lessons on patience and empathy. We learnt to respect and gratitude. We have emerged more mature and […]

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What is your belief on Money Management?

Parents in India believe in providing full financial support for children’s higher education. The moot point is; Would you pay for your child’s higher education abroad, even if it means dipping into your retirement kitty? For many, it is an investment into their child’s future, and by extension their own. There is a difference in the way many parents look at it and the right way to look at it. We have seen parents struggling to honour the EMIs even after retirement by resorting to Debt. They believe “that is what a good parent would do”. Parents also believe to […]

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Digital Locker (Government of India)

Secured way to safe keep and share e-Documents Digital Locker, one of the key initiatives under the Digital India initiative, is aimed at eliminating the usage of physical documents (Pan Card, Driving Licence, Birth certificate, Marksheets, Income Tax return etc),  and enable sharing of e-documents across government agencies via a mechanism to verify “authenticity” of the documents online. Residents can also upload their own electronic documents and digitally sign them using the e-sign facility. These digitally signed documents can be shared with Government organizations or other entities. Citizens with Aadhaar number can create Digital Locker accountsKindly ensure that your current […]

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Health Insurance Policy: Major changes

IRDA has recently come up with some major changes in health insurance effective from 1st October 2020 and issued guidelines to reduce confusion and facilitate ease of understanding for the customers. 1. Exclusions: Standard Definitions There are various exclusions in a health insurance policy and wordings for them differ from policy to policy. This confuses the policyholders. IRDA has standardized the definitions and wordings for many types of exclusions. Now all policies will have the same wordings and code for exclusions which will eliminate grey areas. 2. No ambiguous wordings in Policy  IRDA has also said that there should not […]

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Financial Planning: New Normal

COVID19 originated in the Wuhan province of China and has spread over 200 countries in the World. It is a health-related problem but has impacted the economic life of nations. There are job losses, salary cuts, and increase in unemployment. It has impacted the personal finance of individuals and the financial planning of the families. The income of the families have been impacted. On the expenses side, some expenses like traveling, eating out, commuting to office have reduced. Children are attending online classes from home. Medical facilities are found wanting and inadequate. The instances of overcharging by hospitals galore. The […]

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Transmission of Mutual Fund holdings

Transmission is a process whereby the mutual fund units held by a deceased unitholder are transferred to the nominee or to the joint holder(s) as the case may be. A ‘nominee’ is a person who takes care of assets and can claim the assets in case of demise of the investor. It would be better for the nominee if you give him or her some idea about your investments and how it can be claimed just in case. The nominee or joint holder needs to submit the listed documents to the respective mutual fund houses depending on the scenario. Different […]

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Arogya Sanjeevani Health Insurance Policy

Arogya Sanjeevani policy is a new, standard health insurance policy formulated by the IRDAI and will be offered by all health insurance companies in India starting from 1st April 2020 onwards. The name of the policy will be ‘Arogya Sanjeevani Policy – Insurance company name’. The coverage and terms & conditions of this policy are universal for all twenty-nine health insurance companies. The buyer has the choice to purchase this policy from any insurer. However, the premium rates and customer service can vary from one insurance company to another. It is suitable for lower and middle-income group families who have […]

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HDFC Ergo Health Optima Restore Insurance Policy

With the global spread of the COVID19 pandemic, health has become the primary focus everywhere. There is huge pressure on the health infrastructure and the cost of treatments through hospitalization has increased. Unless individuals have adequate health insurance, the financial position will be severely impacted. We have examined a few health insurance policies and found Optima Restore is a good one. This was earlier known as Apollo Optima Restore but after the merger of Apollo health Insurance Co with HDFC Ergo, the policy has been named HDFC Ergo Health Optima Restore Insurance Policy.  Hospitalization expenses for COVID19 are covered under […]

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