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Peripheral guidelines on purchasing Term Insurance(Life Insurance Cover).

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   Peripheral guidelines on purchasing Term Insurance(Life Insurance Cover). 1. Purchase till age 60 (unless you are planning to work beyond age 60) 2. Opt for the regular payment premium option. Do not opt for a limited premium payment option like 5/10/15 years. 3. Do not purchase the return of premium term plan(TROP). The premium is much higher than a pure vanilla cover. (instead, invest the difference of premium in equity mutual funds) 4. No life insurance company can reject your claim after 3 years (stop running behind the claim settlement ratio, it changes now and then) 5. Do not purchase accidental rider in a term insurance plan (purchase it separately from a general insurance company as riders do not cover all disabilities) 6. Do not purchase a critical illness rider in term insurance plan (as you may require critical illness policy for a lifetime and a term insurance plan is required till age 60) 7. Purchase a term insurance plan with 2 inbuilt riders – waiver of premium i
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76 years of Indian Independence- A foray towards Freedom- Economic/Financial Freedom.

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  "Financial freedom is not limited to wealth accumulation it is much more than it. I t means having the right amount of money when you need it and control over it " . As India celebrated 76 years of Independence, it is also a good time to reflect on our own financial freedom. What does it really mean to be financially free? And how can you achieve it? Financial independence is the ability to live the life you want without worrying about money. It means having enough money to cover your essential expenses as well as your wants and desires. Financial independence goes beyond wealth accumulation. It is having the right amount of money when you need it. If a lot of money is tied up in illiquid assets such as real estate or unsaleable stocks, you are not financially free. Financial freedom is also about having control over your money. It means not having to worry about unexpected expenses or job loss. It means being able to make life choices without being constrained by financial
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A Financial Poem for Life :-)

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                         BALANCE SHEET Of LIFE💫                                 Birth is your                                  Opening Stock.                                                    What comes to you                                              is                                          Credit.                                                      What goes from you                                              is                                            Debit                                    Death is your                                     Closing Stock.                     Your family and good friends are your                                              Assets.                               Your bad habits are                                        your Liabilities.                                  Your happiness is                                            your                                           Profit.                                 Your sorrow is your  
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Changes in financial landscape you need to know this FY April 2023

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        A new financial year is upon us. The start of a financial year is a good occasion to look at your investments and financial goals.      Whether you have a loan or plan to take one, keep an eye on the RBI policy announcement. There are major changes in tax rules, in the withdrawal policy from the National Pension System (NPS), and for investments in post-office schemes and more. 1 Income-tax rule changes for Financial Year 2023-24      Effective April 1,2023, several changes will affect taxpayers in India because of the income-tax changes announced in Budget 2023. Some of the significant changes are as follows:      The new regime  will be the default one, if a person does not state which regime they will submit their returns under. The rebate limit has been increased from Rs 5 lakh to Rs 7 lakh under the new regime. New income-tax slabs under the minimal exemptions regime will also come into force from April 1.      Leave travel allowance encashment limit was raised from Rs 3 l
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THE 5 MUST-HAVE FINANCIAL GOALS

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Setting "financial goals" is the most important aspect that every person should think of. It is an important step towards becoming financially secure. Whether it is related to career, marriage, retirement or anything else, a clear awareness of resources and thorough planning is necessary. A goal sets you off in a certain direction and crystallises your aims, making it easier to visualise something that could be very far away, giving you focus and motivation.        But most of us completely ignore this part and do not set financial goals due to a lack of clarity in financial planning. If you don't have any specific financial goal to work on, you're more inclined to spend more than you should. Later, when you get unexpected expenses, you might get stuck in the vicious cycle of loans. Eventually, you feel like you never had enough cash to save. Even the most prudent person can't prepare for every crisis, as the world learned in the covid pandemic. What thinking ahea
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A SIMPLIFIED GUIDE TO BUYING PERSONAL ACCIDENT INSURANCE

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A SIMPLIFIED GUIDE TO BUYING PERSONAL ACCIDENT INSURANCE :_ Life is full of unknown factors. One can never really predict how the road ahead will bend. While accidents can happen anywhere and at any time, one of the most common ones is road accidents. They have become a significant root cause of death, injury, and property damage, especially in India. Recently, this fact came into highlight with the high-profile death of Mr. Cyrus Mistry, the former Chairman of Tata Sons, in a car accident. Let's look at some intense statistics about road accidents in India. Every year, an average of around 4.5 lakh accidents are reported. Approximately, 1.5 lakh people are killed in road accidents every year. As per UN WHO, the traffic fatality rate for India is about 17 per 100,000 people. In 2020, when the entire world was in lockdown, there were still 3.66 lakh road accidents in India. Road traffic fatalities increased by 7% in the first five months of 2022. The victims of Indian road accidents
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COPING WITH FINANCIAL STRESS

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  1)      COPING WITH FINANCIAL  STRESS: - Life is an ongoing adventure in which we continually strive to do our best. However, sometimes, even in our financial lives, there are occasions when the best-laid plans and well-planned actions fail to deliver the expected results, resulting in financial stress. Financial stress is more common than we think in modern life. Many of us, from all over the world and all walks of life, are having to deal with financial stress and uncertainty. Whether it's loss of work, escalating debt, death of the breadwinner, or a combination of factors, the are many reasons for financial stress. Financial problems can take a huge toll on our mental and physical health, relationships, and our overall quality of life. Feeling beaten down by money worries can adversely impact our sleep, self-esteem, and energy levels. It can even increase the risk of depression and anxiety. One may resort to unhealthy coping mechanisms, such as drinking, drug abuse or ga
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