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Care Freedom is a comprehensive health insurance plan aimed at providing health insurance to all people of all ages. This plan pays for medical expenses incurred by the policyholder due to any injury, illness or accident. The entry age is 90 days and there is no upper limit for entry into the plan which has life-long renew ability  option. The plan covers all expenses (prior and post) incurred during hospitalization, day-care treatments (that do not require hospitalization), health check-up and much more. Key Feature ·          Entry level age is 90 days and there is no cap on the upper limit ·          2 year wait for pre-existing disease instead of 4 years ·          Get annual health check-up for insured members - regardless of claims history ·          Ease of cashless treatment & settlement of claims ...

Happy Family Floater Health Policy offered by Oriental Insurance covers medical expenditures incurred by the whole family under a single sum assured. The family comprises of Self, Spouse, Children, Parents, and Parents-in-laws. There are two plans available in Family Floater Silver and Gold. With this plan, you can claim for medical costs owing to any ailment/ injury/ accident that necessitates hospitalization. Features of the policy 1. NEW FEATURES IN THE POLICY i. Extension (on request) to SAARC countries without any additional premium. ii. Diamond Plan introduced- Sum Insured Rs.12lacs to Rs.20lacs iii. Organ Donor Benefit- When Insured Person is the donor iv. Medical Second Opinion -Reimbursement  v.  Maternity Expenses Cover vi. New Born Baby Cover vii. Life Hardship Survival Benefit under all Plans* viii. Restoration of Sum Insured* ix. Increase in Day Care Procedure List 2. OTHER SALIENT FEATURES AT A GLANCE i. Sum Insured from...

With the ever-rising healthcare costs, Senior Citizen MediclaimPolicy for the elderly is a wise idea. Generally, the entry age for senior citizen health insurance is 61 years and many insurance providers limit the entry age to 69 years. Thus, sooner you get a Mediclaim policy, better the benefits would be. The chances of the policy getting rejected would also be less. After a two-year waiting period, cover for pre-existing diseases will also be offered. The cover for alternative medical treatment methods like Ayurveda and Homeopathy can be added to the policy plan as add-ons. The premium of senior citizen Mediclaim is generally high since the entry age is high and the premium amount varies according to the pre-existing disease. Some companies offer life-long cover for senior citizens while others may not require medical tests until the age of 69, based on some terms and conditions. Myths about Senior Citizen Health Insurance: Group insurance is sufficient: This is a ver...

What is Family Floater Health Insurance? A family health plan or family medi-claim policy is designed to offer health cover to families. It works like the individual health plan/medi-claim policy with the only difference being that it covers the entire family. The mediclaim policy for family proves critical in safeguarding the health of the family. Without it, family members are exposed to ailments and critical illnesses and can suffer acute financial loss in treating the illnesses given the inflation in medical treatment costs. To understand how the family floater health insurance plan works vis-à-vis the individual health plan, let us consider this illustration revolving around the Pathan family.   How individual health Planworks The Pathan family has four members with individual covers of Rs 1 lac each, which means that each member can claim reimbursement for up to a maximum of Rs 1 lac. If the medical expense towards an individual’s treatment exceeds ...

We always dream to give best education to our child but do we really think about growing cost of child education ? We want a child to become doctor or engineer but do we really plan for this? As per me saving for child education is the most important goal for parents. Other goals like buying car or buying home can be compromised, but we cannot compromise our child education. When it comes to child education planning majority of people rely on child education plan which ends up paying them peanut type returns. In this post, I will be highlighting details of growing child education cost and will be giving education planning calculato r. Follow steps are given below to plan your child education. 1 Set Target Year The first step is to find out target year for education expense. It is very easy to find out this if your child age is 1 year then he will enter in graduation year after 18 years. If he is likely to do MBA after graduation you need to consider target age 21...

Investment policies need a lot of study before purchase unlike term insurance products where we shall arrive at the purchase decision by just taking a few factors into consideration. Any investment policy has to be selected based on our requirement. This requirement can be identified by profiling. Profiling is listing out the financial details such as annual income, investment, other sources of income and loans. These details need to be kept side by side with the financial goals for the next 15 - 20 years. Now, a conclusion can be drawn on how much investment to be made and what is the required corpus. After deciding the premium and corpus required, we can start browsing for investment plans which will fit our requirement. Key elements to be considered, while purchasing investment Plans 1. Premium payment term: Premium payment term, will decide the maturity returns that we would receive at the end of the investment period. Longer payment period is advised for people lo...

LIC's New Children’s Money Back Plan is a insurance cum investment plan which can be used for securing the financial needs of a child as they turn 25 years old. It is a participating plan and hence is eligible for bonus depending on the performance of LIC. Key Benefits of LIC New Children's Money Back Plan ·          Participating non-linked money back plan eligible for bonus ·          Designed to cater to educational, marriage and other needs of growing children ·          Offers cover on the life of child during the policy term ·          Can be bought by parent or grandparent for a child aged 0 to 12 years   Benefits in LIC New Children's Money Back Plan The following benefits are available in LIC Children’s Money Back Plan. 1. Death Benefit in LIC New Children’s Money Back Plan In case of...

STP is a way through which one invests a lumpsum amount in one scheme & regularly transfers a pre-defined amount into another scheme of the same mutual fund house. In the long run, STP helps in cutting down risks to a considerable level & earning good returns. Basically, STP means transferring an investment from one asset or asset type into another asset or asset type. This transfer process happens gradually over a period of time. Further, STP can be classified into three parts Fixed STP - Here the investors take out a fixed sum from one investment to the another. Capital Appreciation STP - Here the investors take out the profit part of the investment & invest it in another. Flexi STP - Here, the investor has a choice to transfer a variable amount towards the investment. Benefits Helps in Re-balancing Portfolio: Through STP, one can balance their portfolio effectively as this method allows the allocation of investments from equity to...

What is Auto Insurance? Auto insurance policy is mandatory for vehicle owners as per Indian Motor Vehicles Act 1988. This Plan is designed to give coverage for losses which insured might incur in case his gets stolen or damaged. The amount of Auto insurance premium is decided based on the Insured Declared Value of a car. The premium will increase, if you raise the IDV limit and vice versa. Why do I need to insure my vehicle? Auto insurance is mandatory for all vehicles that ply on roads-like car, trucks, etc. The prime objective of this type of insurance is to provide complete protection & coverage on physical damage or loss from man-made & natural disasters. According to Indian Motor Act 1988, an auto insurance policy is mandatory for every automobile owner in the country. Hence, purchasing an auto insurance is not just a necessity, it is mandatory by law. Key Features of Auto Insurance 1) Policy protection against loss or damage to the covered vehicle 2) Cov...

Systematic Investment Plan (SIP) is a very easy & convenient mode of making investments in mutual funds on a regular basis. SIP allows one to cultivate a habit of savings & creating wealth for the future by starting early. Offering ease & flexibility, through SIP one can create a planned approach towards investing right. SIP gets auto-debited from the investors account and the amount is invested into a mutual fund scheme that has been specified. The investor then gets a certain number of units which is based on the current ongoing market rate. Every-time a SIP is made, additional units keep getting added to the investor’s account. SIP has proved to be an ideal choice of investments for retail investors who lack resources to pursue active investments. Benefits Of SIP CONVENIENCE: Offering a hassle-free mode for investing, one can directly get the SIP amount deducted from one’s bank account via a standing instruction to facilitate auto-debit function. DISCIPLI...

Build Your Wealth Through SIP: Many investors now take the SIP (Systematic Investment Plan) route to begin their savings and take advantage of compounding returns in a best way. As SIP is considered as the most convenient way of investing in the equity markets, Financial Advisors suggest investors to opt for it. SIPs are generally advised to investors who look to invest a certain sum of money in mutual funds at regular intervals to build corpus for meeting any long term financial goals. SIP allows investor to choose the mode of investment as per their convenience- monthly, quarterly or annually, for investing in funds of their choice. Investors can choose from various investment vehicles to invest their money including stocks, mutual funds, ETFs, etc. SIP brings about a discipline in terms of investment habits. It helps the investor in maintaining a focused and dedicated approach towards investment. Starting with an amount as low as Rs.500-Rs.1000 per month, SIP ...

Mutual funds offer a way for a group of investors to effectively pool their money so they can invest in a wider variety of investment vehicles and take advantage of professional money management through the purchase of one mutual fund share. Mutual fund companies essentially collect the money from their investors, or shareholders, and invest that pooled money into individual investment vehicles according to some risk profile, money management philosophy, or financial goal. The mutual fund then passes along the profits (and losses) of those investments to its shareholders. More & more people are learning about mutual funds as a means of investment. From putting one’s money into fixed deposits or investing in real estate, people are becoming aware of mutual funds as lucrative choice of savings & investments. It is becoming the most sought-after method of investing but having limited or no knowledge of it can hamper one’s plan to go ahead with mutual funds completely. Her...