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  What are the different types of life insurance policies available? There are several alternatives when it comes to life insurance policies, but the main issue is to understand and pick the right one. One can also take help from various LIC agents in Nagpur or all over the country to clarify their choice. If staying in Nagpur or nearby, one can also seek help from local insurance advisors in Nagpur or from local insurance agents or LIC agents in Nagpur. They can provide you with tailored guidance based on your demands and financial objectives. Following are a few prevalent forms of life insurance policies in India: Term Life Insurance: This is the most basic type of insurance that covers a specific period of time and is known as a "term" policy. If the insured person passes away within the policy period, the death benefit all goes to the beneficiaries. As this policy does not cover any cash value, it is available at a very low premium as compared to other product policie...

In most urban middle-class households with children schooling has become a major cost head. Personal finance experts quickly point out that while schools are more costly than they were 20 years ago, daily salaries are enough to pay for schooling. The problem is to fund university research, usually postgraduate research or master’s. Although a large number of parents are conscious of the need to build a corpus for education, it is difficult for most parents to assess the cost of education for children. Two considerations make it difficult to quantify – firstly, it is a long-term goal and secondly, it does not know which path the child will select. “It is all about assumptions now. So you should be focussing on what you can afford now,” says Pankaj Mathpal , founder and CEO of Optima Money Managers. For example, if you think an engineering degree is a minimum you would be willing to pay for, start with it. If it costs Rs 10 lakh, then apply inflation to it. “Education costs in I...