Search Results

In recent years, the features and structure of health insurance policies have improved and become more extensive. Several new features have been added to the individual or family health insurance plan to meet the diverse needs of the consumers. Many people nowadays are adopting a healthy lifestyle and supplementing it with a wellness programe. This does not, however, eliminate the possibility of being admitted to the hospital owing to a medical emergency. The importance of having the correct health insurance has grown as the expense of medical treatment has skyrocketed. One of the numerous benefits of the health insurance coverage is the opportunity to renew it for the rest of your life, avoiding fuss and hefty costs. We've gone through the lifetime renewability features in a health insurance policy in detail and how crucial they are in this article. Importance of Lifetime Renewability in Health Insurance People become more susceptible to a variety of age-related ailments as they get older, and the cost of health insurance policies rises with the years. Most private insurance firms do not provide medical coverage after a certain age, but with this lifelong renewability option, the insured can continue to benefit from the policy throughout their lives, regardless of their age. This alternative can be extremely beneficial for senior citizens because they do not have to put any financial strain on their caregivers. In addition, given the rising expense of health care, the need of health insurance that can be renewed for a lifetime cannot be overstated. What Can You Expect From Health Insurance's Lifetime Renewability Clause? Previously, the health insurance's renewability was determined by a number of factors, including previous year's claims. When the policies were renewed, the insurance firms were compelled to maintain a claim-based loading. If the insured made a health claim, this resulted in a higher following premium. This technique increased the cost of policies and drove insurers to forego purchasing adequate insurance coverage. However, now that the Insurance Regulatory Development Authority of India (IRDAI) has made assured renewability for health insurance policies mandatory, here's what we may expect as a result of this decision. Policyholders of health insurance policies will now be able to renew their coverage for the rest of their lives. There are no longer any age restrictions, and policyholders are not required to submit a new medical statement at each renewal. Regardless of how many healthcare claims they made in the preceding policy year, policyholders can easily renew their coverage. Even at the age of 65, new policyholders will be able to purchase a new health insurance plan. Their health insurance policy is renewed every year for the rest of their lives. Benefits of the Lifetime Renewability in Life Insurance Inclusion of the lifetime renewability clause in life insurance brings about a lot of benefits for health insurance policy seekers. It has removed the age restriction to renew their healthcare policy. It helps senior citizens to buy health insurance without any hassle and thus aged people will not be denied health cover. The minimum entry age for health insurance is 3 to 5 years and maximum entry age is 65 years and the maximum age to renew the policy is its lifetime.

People are becoming increasingly afflicted by lifestyle diseases and critical illnesses in this day and age. And, given India's rising healthcare costs, treatment for a critical disease might quickly deplete an individual's funds. As a result, critical disease insurance is required for individuals to secure complete financial stability in the event of a medical emergency. Long-term and catastrophic illnesses that necessitate costly medical treatment are covered by critical illness insurance. A critical illness insurance policy protects the insured against life-threatening critical illnesses like heart attack, cancer, and renal failure, among others. In the event that the life insured is diagnosed with any serious illnesses, the insurer pays a lump-sum amount to the life insured to cover the exorbitant medical expenses. Most health insurance companies offer critical illness coverage as a rider benefit in addition to the main health insurance plan. Insurance customers must pay an additional premium in addition to the policy's standard premium to use this rider option. Critical Illness Insurance Plan Features Consider the following aspects of a critical illness insurance policy: Critical illness coverage is available for main critical illnesses, including cancer, tumours, heart problems, kidney failure, and so on. Lump-sum payment- The insurer covers the treatment costs as a one-time payment for the illnesses listed in the policy terms. Easy claim processing- Based on the diagnosis report, claims can be processed quickly. Waiting period- Generally, coverage is provided once the waiting period has ended. Income loss- A portion of the lump sum might be utilised to replace lost income. Complete and permanent disability- Under a certain variation of the critical illness insurance rider, you can also acquire coverage for total and permanent disability. Critical illness insurance has a number of benefits. Critical illness insurance plans provide certain types of benefits that are not available with other health insurance policies. Take a look at these advantages: In times of need, financial assistance is available: With a critical illness plan, the policyholder can choose a high sum insured level, offering entire financial protection in the event of several diseases or advanced treatment. In the event that the policyholder is diagnosed with any of the critical illnesses listed in the policy, a lump-sum payment is made to the insured for treatment and surgery. The payment schedule is set by the critical illness policy's predetermined terms. Several Critical Illnesses Are Addressed: Primary critical illnesses are covered by a critical illness insurance policy. It's critical to read the policy documentation thoroughly to see how many and what types of illnesses are covered. Add-on coverage for people who already have health insurance: Critical illness insurance can be added to a basic health insurance policy as an add-on cover. Even if a person has a health plan that covers the risk of a medical emergency, critical illness insurance can be very useful if the policyholder is diagnosed with one of the critical illnesses. It can be added to a policy as a rider to increase coverage. Acts as a Substitute for Income: If a person is diagnosed with a serious illness, it is possible that his or her health will prevent him or her from working. In such a case, the family may face financial difficulties. If the policyholder has appropriate coverage under a critical illness insurance policy, however, the claim money can be utilised to pay for the disease's treatment, and the life insured will not have to pay out of pocket. Premiums that are within your budget: If a person has a pre-existing condition or a critical illness, a critical illness insurance policy should be purchased in addition to the normal health insurance coverage. Furthermore, these policies are available at a low premium fee. Insurance consumers can compare coverage quotes online and select the most cost-effective plan that meets their needs.

When a legally allowed individual or institution accesses your credit information, inquiries show on your credit report (including yourself). Inquiries are most usually the consequence of a credit, products, or service application; an account review by a firm with whom you currently conduct business; or a preapproved credit offer that has been issued to you. Hard inquiries and soft inquiries are the two forms of credit inquiries. Soft inquiries, such as account reviews and preapproved offers, have no impact on your credit scores. Applications for credit or specific services are examples of hard inquiries, and while they have a minor influence on your scores, they can impair them briefly. It's a good idea to check your credit report at least once a year to see what hard and soft queries have been made. Here's everything you need to know about credit report inquiries, including the variations between hard and soft inquiries. What Are Credit Inquiries and How Do They Work? Lenders often get your credit report from one or more of the three major consumer credit agencies when considering whether to grant you credit and, if so, how much and at what interest rate (Experian, TransUnion and Equifax). Your credit report contains a summary of your debts as well as your payment history. Creditors frequently receive one or more credit scores as part of their appraisal process: three-digit values obtained from statistical analysis of your credit report's contents. A better score means you're less likely to default on your bills. When you apply for credit or services like a cellphone account, you're normally indicating that you're allowing the lender to do a credit check on you. Hard inquiries appear on your credit record when lenders undertake credit checks. Certain organisations are also legally authorised to access your credit information for reasons other than making an application, such as when your existing lenders check your reports on a regular basis or when a potential lender offers you a preapproved offer. Employers can examine your credit history if you give them written permission, but they won't get a credit score. You may also verify your own credit reports and scores, and it's a good idea to do so on a frequent basis—these checks have no impact on your credit score. Soft inquiries are created on your credit report by credit checks like these that aren't tied to credit applications. What Is a Hard Inquiry, and How Does It Work? When a lender investigates your credit in response to an application for a new loan, credit card, or line of credit, a hard inquiry shows on your credit report. When you apply for new credit, you risk incurring additional debt, which may temporarily reduce your credit ratings until you can demonstrate that you are managing that new debt properly. Hard inquiries usually impair scores by less than five points, according to FICO® and VantageScore® credit scoring models, which account for the increase in risk by decreasing your ratings somewhat. Hard inquiries can stay on your credit record for up to two years, but as long as you pay your bills on time, your credit score will usually recover within a few months. After a year, most credit scoring algorithms no longer consider a hard inquiry in score computations. What Is a Soft Inquiry, and How Does It Work? When someone performs a credit check for purposes other than giving you money, it shows up on your credit report as a soft inquiry. These occurrences are not linked to a higher risk of default, thus they have no impact on your credit ratings. Listed below are a few examples: Credit checks may be used by utility providers to determine whether or not security deposits are required on leased equipment such as Wi-Fi routers or satellite dishes. Because safe driving practises and excellent credit scores have a significant association, auto insurance may utilise credit checks to assist establish premiums. Your credit scores may be checked by credit card issuers with whom you already have accounts in order to advertise new cards or other goods to you. Your credit scores may be checked by credit card issuers with whom you already have accounts in order to advertise new cards or other goods to you. A soft inquiry is created on your credit report if you acquire your own credit report or check your credit score using a credit monitoring service like Experian's. Monitoring your own credit scores, like other soft inquiries, cannot harm your credit. Avoid too many hard inquiries Because several new loans or credit cards in a short period of time might lower your credit score, it's best to avoid doing so. Applying for many credit cards in a short period of time or at the same time, for example, might harm your credit score needlessly. Because hard inquiries might lower your credit score momentarily, it's best to apply for credit only when you truly need it. Multiple queries for the same reason conducted within a short period of time may be counted as one by some credit scoring models, but numerous distinct sorts of inquiries made within a short amount of time might lower your credit score or cause lenders to fear that you are in financial hardship. It's also a good idea to wait six months to a year before applying for a mortgage or vehicle loan to ensure that your application shows your greatest potential credit score.

If you're thinking about buying a house, you should figure out how much money you'll be putting down and how much money you'll be borrowing from a bank. The maximum amount a bank can give you for the purchase of a home is determined on a case-by-case basis. Your house loan eligibility is determined by a number of factors, and this article discusses the top five techniques for improving your home loan eligibility. Boost your CIBIL rating. The CIBIL Score is a number that reflects how likely you are to repay your bills on time based on your credit history. If your credit score is above 750, it means you have a strong credit history and are likely to pay off your debts on schedule. If your score is poor, though, you have a good chance of not being able to repay your debts. Banks consider money safety to be just as vital as interest rates, so they are hesitant to give greater loans to persons with low Scores. As a result, maintaining a high credit score is recommended for everyone. The following steps will help you improve your credit score: Always pay your credit card bills and EMIs on time and in whole, on or before the due date. Applying for too many credit products at once will result in a new credit score check, which will lower your score. Keep your credit utilisation ratio modest, at 20-30% of your credit card spending limit. Choose a home loan with a longer term. The length of your house loan is one of the most important elements in determining your EMI. The EMI payable will be reduced the longer the term is. Furthermore, the smaller the EMI, the easier it will be to repay the loan. The easier it is for you to repay the loan, the more likely the lender will be able to reclaim the owed EMI. As a result, if you want to boost your home loan eligibility, go for longer-term loans. Joint Home Loans Applying for a Joint Home Loan, particularly with a family member such as a spouse, son, or parents, is one of the finest strategies to boost your credit score. In the case of a shared home loan, the lenders also take into account the income of the other co-applicant, greatly increasing your home loan eligibility. You may learn more about the paperwork needed to apply for a home loan by clicking here: Eligibility for a Mortgage Repay your existing loans over a shorter period of time. Home loans are loans that are for a longer period of time, such as 10 or 20 years. However, other loans, such as vehicle loans and personal loans, are for two or three years. Try paying off such shorter-term loans before applying for a home loan, as doing so will enhance your monthly net savings and, as a result, your home loan eligibility. Earnings from Other Sources If you have multiple sources of income, such as a rental or a business, you may be able to improve your home loan eligibility. Before granting your house loan, lenders analyse your monthly cash flows, therefore the larger the monthly cash flows, the better.

With the expense of school rising every year, not everyone can afford to pay the whole sum out of pocket. Education loans are used in this situation to make quality education available to the majority of people. Unlike a mortgage or a vehicle loan, an education loan is a long-term investment in human capital. The loan amount invested, on the other hand, may or may not be equal to the return on investment. As a result, experts advise that if one has the financial means to pay off the debt early, one should do so. The term "prepayment of a loan" refers to paying off a debt before its due date. The payback time for an education loan is typically ten years or more, however students can prepay the debt early based on their earnings. Education loans often carry yearly interest rates ranging from 10% to 22 percent, depending on the bank or financial institution and whether the loan was secured or not. However, if the student is spending more than 40% of their wage towards loan repayment, it is critical to lessen the load as soon as possible by repaying the loan. Furthermore, if your rate of interest is not fixed, i.e. it is floating interest your EMI might cause havoc with your monthly budget and allocations by growing unexpectedly. As a result, eliminating the debt load is critical for establishing assets and focusing on other long-term goals. Furthermore, according to experts, if your goal is to get a high-paying job and pay off your debts in full, this is not the proper approach. Borrowers should return their student debts as quickly as possible, as work is scarce in the current climate, particularly in this troubled economy, and earnings are razor-thin. Paying off your loans early is also important for maintaining a good credit score. If you have an outstanding debt on your student loan, it may affect your ability to obtain a house loan in the future. Also, keep in mind that some banks levy a two to three percent penalty for prepaying school loans with a set rate of interest. However, as a borrower, you will benefit in the long run since your credit score will remain constant.

In this day and age, every individual must have health insurance to protect themselves and their families from high medical bills in the event of a medical emergency. With the rising expense of healthcare in India, it's critical to have the correct coverage in place to ensure complete financial stability in the event of an emergency. When a policy is purchased, the insurance company issues a health card to the policyholder. Although a health card appears to be identical to a typical debit or credit card, it is extremely handy for filing claims. Continue reading to learn about some of the significant advantages of having a health insurance card. The Benefit of Cashless Hospitalization is available to insured people. In the event of hospitalization, the health insurance card can be used at any of the insurance company's network hospitals. This allows the policyholder to receive cashless treatments in the event of a hospitalisation. The policyholder will be required to submit the health card to the hospital authority at the time of admission. If the insured has their health insurance card on hand and presents it during hospitalisation, they can begin the cashless claim procedure and have their claim processed swiftly and conveniently. Can Easily Contact the Insurance Company Every health insurance provider provides a toll-free customer service hotline that may be used to file claims or get answers to questions. However, remembering these figures is not always possible. This is when having a health card comes in handy. The health card has a phone number for emergency assistance. In the event of a medical emergency, the policyholder can swiftly dial the hotline number and report the health insurance claim. The first stage in the claim settlement process is to notify the insurer of the claim. The Insured can obtain policy information in a flash. The policyholder must specify the policy number and customer identification number when notifying the insurance company of the claim or filling out the claim form so that the insurance company may verify the data. Furthermore, it is necessary to be informed of the insurance's characteristics and benefits, such as whether the policy covers critical illness or not, and so on. It might be time consuming to search through policy documents for policy numbers and other information in the event of an emergency. A Unique Identification Number (UIN) is printed on the health insurance card and can be used to quickly obtain policy information. The card acts as a form of identification for cashless treatments. When a policyholder uses cashless hospitalisation, the health card also serves as an identity card. By using the information on the card and matching it with the ID evidence, the hospital is able to verify the policyholder's identification and provide cashless care. The Validity Date The validity date of the health insurance policy is also listed on the health insurance card, just like it is on the credit or debit card. The policyholder will need to renew the policy after the validity date has passed, and a new card will be provided to them. As a result, the policyholder is better able to pay the policy's regular premiums and renew the policy at the appropriate time to assure consistent coverage. Clarifies the Claim's Eligibility Another advantage of having a health insurance card is that it verifies the claim. The hospital checks the policy data, the identification of the policyholder, and validates the health insurance policy when the card is provided for cashless services. The hospital approves the claim and allows cashless treatment after everything is in order. This is also true for any critical sickness insurance claim that is submitted.

When it comes to digital gold, it's a good deal. Purchasing digital gold is similar to purchasing a stock. Convenience is crucial. Nothing compares to the ease of shopping online. If you're a group of pals, you can pool your funds to buy a bigger sum of gold and digitally gift it to a friend. And it can all happen while you're in the cab on your way to the wedding! It's safe to preserve and utilise. The major issue with physical gold is that you'll need a locker to store it, not to mention the storage fees; however, with digital gold, the online platform will buy pure gold on your behalf and store it safely in its locker at no additional cost to you. If the recipient of your gift ever needs to sell physical gold, they might not be able to get the best deal. However, selling digital gold is just as easy as buying it. They can exchange their digital gold present for cash or physical gold. They will receive real-time market prices if they choose cash. In digital form, this instrument allows you to invest in pure gold. In safe vaults, the vendor keeps a comparable amount of actual gold. The customer receives an invoice after making the payment, and the stated quantity appears under vault balance in your account with the service provider. Customers can sell their gold at any moment at current market rates in rupees or gramms. They can also take physical custody of the gold, such as coins or jewellery, after deducting any manufacturing and packaging fees. In India, digital gold is primarily sold by three entities—MMTC PAMP, Augmont Goldtech and Digital Gold India (SafeGold). These firms have tied up with service providers like PayTM, Google Pay, Amazon Pay and PhonePe, among others, to sell digital gold via their platforms.

HP Adhesives' Initial Public Offering (IPO) began on December 15th,  Through its IPO, the company hopes to raise Rs 126 crore. Investors have until December 17 to subscribe to the three-day issuance. The business has received bids for 40,71,450 shares out of the 25,28,500 shares on sale. HP Adhesives' stock are in the price band of of Rs 262-274 per share. Investors can bid for a minimum of 50 shares and then in multiples of 50. The IPO of the consumer adhesives and sealants firm includes an offer for sale of 4.57 lakh shares by promoter Anjana Haresh Motwani, as well as a new issue of 41.4 lakh equity shares. Prior to its IPO, the business was able to secure Rs 56.68 crore from anchor investors. The proceeds from the IPO will be utilised to supplement HP Adhesives' working capital and expand its operations. The firm is one of the largest manufacturers in the consumer section of the adhesive industry's PVC solvent cement category. cPVC, uPVC solvent cement, PVC, PVA adhesives, silicone sealant, gasket shellac, PVC pipe lubricant, acrylic sealant, synthetic rubber glue, and other sealants are all available from HP Adhesives across the United States. HP Adhesives operates a multi-product production plant in the Jawaharlal Nehru Port Trust (JNPT) in Maharashtra's Raigad district, near Narangi. It sold items in 21 countries during the fiscal year, including the United Kingdom, the United States, Bangladesh, Greece, Kuwait, Iraq, Mauritius, Bahrain, and Ghana.

The first EMI financing app in India has been released by Bajaj Finserv. Consumers will be able to apply for a quick EMI loan using the app at any time. Customers may access the app using their Aadhaar Card, Facebook, Twitter, or Google+ accounts. This saves time by allowing you to pre-fill the form with basic information. Consumers will be able to get immediate clearance for pre-approved loans up to Rs. 3 lakh via the Bajaj Finserv app. Consumers will be able to take advantage of EMI discounts at over 12,000 outlets, including Croma, Vijay Sales, Hometown, Home centre, Urban Ladder, Helios, and others. The software allows clients to apply for quick EMI financing at any time and from any location, which is a first in the market. Consumers may obtain immediate approval with a unique user id to enjoy EMI discounts across 12,000+ retailers, including Croma, Vijay Sales, Hometown, Home centre, Urban Ladder, Helios, and more, using the groundbreaking app. Consumers may use the Bajaj Finserv Experia App to: At the touch of a button, get Instant Approval for pre-approved loans up to INR 3 Lacs. • Sign in using your Aadhar Card, Facebook, LinkedIn, or Google account. • To get an edge, merely share the first six numbers of their credit card. This boosts their chances of being approved, as well as their ability to borrow larger sums. There will be no charge on their card, and Bajaj Finserv will not utilise their credit card information for any banking purposes. • The ability to apply from anywhere, at any time • Easily edit their personal information • Shop at any of Bajaj Finserv's 12,000+ partner locations in over 150 cities after receiving permission. • Follow up on their loan application.

Recognizing that rent payments can take many forms, Paytm, an Indian digital payments startup, has expanded its rent payment services to include new categories like auto and furniture rentals, wedding venues, catering and décor, as well as guesthouse rentals, according to a press release issued on Thursday (Dec. 16). According to the press release, customers may use Paytm to pay rent on their homes, as well as store rentals, property deposits, and brokerage fees. On the Paytm app, users can track and manage payments for all rental services from a single dashboard. For bank deposits, payments can be made straight to the payee's Unified Payments Interface (UPI) ID. Credit and debit cards, Paytm UPI, purchase now, pay later (BNPL), and netbanking are among the payment options available. Paytm is now giving perks as well as a rebate of up to 10,000 rupees  on rental payments made with a credit card.

In India, the majority of the people does not have health insurance and must rely on their savings or borrowing in the event of a medical emergency. Medical insurance is a must-have in your financial portfolio, since the government encourages everyone to acquire it and provides tax benefits under Section 80D. What does Section 80D entail? Section 80D allows any person or HUF to deduct medical insurance premiums paid in any given year from their total income. Top-up health insurance and critical sickness policies are also eligible for this deduction. The advantage is accessible not just for purchasing a health insurance coverage for yourself, but also for purchasing a policy to cover your spouse, dependent children, or parents The nicest aspect is that it goes above and beyond the Section 80C deductions. Who is qualified for a Section 80D deduction? Individuals and HUF taxpayers are the only ones who can deduct medical insurance premiums and medical expenditures for older persons. Individual or HUF taxpayers can get insurance for: Children who are reliant on their parents Parents This deduction is not available to any other organisation. A business or a firm, for example, cannot claim a deduction under this clause. Payments that qualify for a Section 80D deduction Section 80D allows an individual or a HUF to claim a deduction for the following payments: A medical insurance premium paid in any form other than cash for oneself, one's spouse, one's children, or one's dependant parents. Expenses expended as a result of a preventative health check-up Medical costs expended on the health of a senior adult (60 years or older) who is not covered by a health insurance plan. Contribution to the Central Government's health-care plan Section 80D allows for a deduction for: In a financial year, the deduction permitted under Section 80Dm is Rs 25,000. The maximum deduction permitted for older persons is Rs 50,000. Individual: For self-insurance, spouse insurance, and dependent children insurance, a person can claim a deduction of up to Rs 25,000. If your parents are under the age of 60, an additional/separate deduction of Rs 25,000 is available, and if they are above 60, an additional/separate deduction of Rs 50,000 is allowed. If both the taxpayer and his or her parents are over 60 years old and have medical insurance, the maximum deduction available under this clause is Rs 1,00,000. Senior citizens above the age of 60 are classified as elderly and extremely senior citizens.

SBI Mutual Fund (MF), the country's largest mutual fund, is expected to be the next mutual fund to be listed on stock markets. The executive committee of State Bank of India's central board has given its approval to sell a 6% shareholding in the fund house in the IPO, according to a stock market filing. The fund house will become the sixth fund house to be listed on the bourses once the IPO is launched after regulatory clearances. Other fund firms that have previously been listed include HDFC MF, Nippon Life MF, UTI MF, and Aditya Birla Sun Life MF.