Complaints on Indian Money Reviews - Frequently Asked Questions on Retirement

How much should you save for retirement?

You can never be sure of how much you should save for retirement. It is different for everybody. Just start saving each month specifically for retirement. Time to time, make sure you increase the quantum of savings.

Keep in mind your retirement goals, responsibilities and post-retirement income like rental income, pension etc. while ascertaining how much you want to save for retirement.

2. Should you start saving for retirement while in college?

This can’t be bad at all. Starting early instills financial discipline in you.

3. Should you save for retirement or children’s college education first?

Saving for retirement is as important as saving for children’s education. You surely want to give your children the best education you can afford. You definitely don’t want to be a burden on your children. Therefore, both should be given equal importance.

4. How to save for retirement and children's education at the same time?

It's not at all easy to save for retirement and children's education at the same time. Education expenses are ever increasing. Is your income also increasing accordingly? You may think so, but don’t forget that inflation eats up most of the hike in your salary.

Postponing retirement means losing out on years of compounding power and tax-deferred growth. Postponing saving for children’s education may mean the need to avail educational loan and years of repayments along with other loan repayments.

5.  Should you invest in a pension plan if you are contributing to EPF?

Yes. IT is very important to invest in a separate pension plan. EPF should be kept intact till your working life unless you quit and start a business. In this case, you’ll have to be wary of the tax implications of EPF. Also, with inflation increasing at alarming rates, it is wise to save as much as you can. Invest in Mutual Funds, Equity Funds, PPF, etc. Remember, your retirement portfolio should be diversified.

It should have fixed income earning securities, debt and equity components. Consider PPF and FD to earn for fixed income. Consider debt funds to earn better returns than FDs at moderate risk. Consider ELSS to create wealth over a long-term.

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Indian Money Review - Endowment Policy - Compare Plans, Reviews & Benefits

What is Endowment Policy?

An endowment policy is a type of life insurance plan which not only covers your life, it also helps save money. It is insurance cum savings plan. If the policyholder dies within the term of the plan, the nominees get the sum assured + accrued bonuses. If the policy holder survives till the maturity of the plan, he/she gets the sum assured + all bonuses. An endowment plan is an excellent way to save over a specific period of time and enjoy a lump sum at maturity, on surviving the term of the plan.

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Features of an endowment plan:

As Indian Money Company, if the policy holder dies within the term of the plan, the nominee gets the sum assured and accrued bonuses. If the policy holder survives till maturity, he gets the sum assured and all bonuses like guaranteed bonus, revisionary bonus and a terminal bonus.

An endowment plan helps save for the future and attain financial goals.

Endowment plans offer flexibility in premium payments. Premiums can be paid on a monthly, quarterly, semi-annually or a yearly basis.

You have riders like accidental death benefit rider, critical illness and even total permanent disability rider. Child endowment plans come with a special feature called waiver of premium rider (WOP). The waiver of premium rider ensures that all future premiums are waived off in case of total and permanent disability of life assured.

You enjoy tax benefits up to Rs 1.5 Lakhs a year under Section 80C of the income tax act. Death benefits enjoy an exemption under Section 10(10D).

Endowment plans are safe vis-à-vis market-linked plans like ULIPs. Returns are not affected by market movements unlike equity funds which are very volatile. 

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Indian Money review Bangalore - Low Cost Health Insurance in India

In today’s World taking care of health, takes a backseat to the competing demands of work and family. Our environment and lifestyle also affects our health. As per Indian Money Reviews Bangalore The number of diseases affecting the population is on the rise due to various factors like hectic work schedules, unhealthy food habits, air pollution and a fast paced lifestyle. Consequently the health care systems in India are undergoing significant changes. The rapid advancement in technology has contributed to the rise in health care costs.

The advent of health insurance policies have completely changed the way health care costs are paid. While employed persons are still reasonably sure of having access to health care and treatment, the poor and the unemployed are left behind. As health care and treatment are getting costlier by the day, you need to look for low cost health insurance plans to avail quality healthcare on a budget.

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 Availing a health insurance policy will keep you free of stress in case of an emergency hospitalization. Hospitalization can burn a hole in your pocket and derail finances. It is during these emergencies a health insurance policy proves to be handy. Therefore, it is necessary for you to seek a low premium health insurance plan to enjoy required healthcare. In India people search for low cost health insurance plans, so that they can pay minimum premium and get maximum coverage.

Buying a health insurance policy not only offers greater coverage, but also helps plan finances in a better way. Having a medical cover reduces the chances of borrowing during emergencies and allows you to focus on long term investments. Keeping in mind the ever soaring health care costs in India, buying a health insurance plan will help avoid high medical bills during emergencies.

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Indian Money Company, Indian Money - Top 10 Tips for Personal Loan

Personal loan is a type of unsecured loan, which can be availed to help meet financial needs. Generally no collateral or security is needed to avail a personal loan. Personal loans are availed to meet financial expenses during an emergency or to pursue personal goals.

Want to know more on Personal Loan? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.

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Personal Loan Eligibility Criteria:

To avail a personal loan, the borrower must meet the following eligibility criteria:

1. The borrower must have a stable source of income.
2. He must earn Rs 20,000 a month or above. (Take home salary).
3. The applicant must have a good credit history. (Credit score of 700 or above).

Top 10 tips for taking personal loan:

Personal loans are the most popular type of loan that can be availed. Banks sanction these loans to borrowers with no collateral. The borrowers do not need to state the reasons for availing personal loans, which is why these loans have become so popular these days. Before availing personal loans, there are a few things that you must consider. Below listed are a few tips that you must keep in mind, before applying for a personal loan:

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IndianMoney Review - Education loan in India, You Need To Know

IndianMoney Review - Education loan in India, You Need To Know

Pursuing higher education is one of the main aspirations of crores of citizens in India. Over the years, cost of education is increasing rapidly. A quality education in India or at a foreign institution can leave a huge hole in your pocket. Parents who want to provide their children with the best education either save money or make long term investments. But, even after this, an individual may face shortage of money for a quality education. In this scenario, an education loan comes handy in arranging funds for a quality education to help achieve a good career.

Want to know more on Education Loans? We at IndianMoney Review Bangalore will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. 

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 Education Loan in India: Here's all you need to know

What is education loan?

As per Indian Money Review an education loan is a type of loan, tailor made to suit the needs of students. An education loan is the money borrowed to finance and manage the costs of higher education. The amount borrowed can be repaid over time along with interest. The special benefit of education loan is that the repayment process starts after the completion of the course. Who can apply for the education loan?

Indian Money Company Any individual who wants to pursue higher education in India and overseas can apply for this loan. The maximum amount that can be borrowed varies across banks and depends on the kinds of courses, the applicant enrolls for. No collateral is required for availing an education loan. However, parents, siblings or the guardian will have to execute the loan as a co-borrower.

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Indian Money Review - National Health Insurance Benefits And Plans Online

Indian Money Review - National Health Insurance Benefits And Plans Online

National Insurance Company Limited was incorporated in the year 1906 and is India’s oldest Insurance Company. In the year 1972, it was nationalized along with 21 foreign and 11 Indian insurance companies which were amalgamated with it. It is a Government of India owned company and has its headquarters in Kolkata. It provides General Insurance and specializes in products like Motor Insurance, Health Insurance, Personal Insurance, Rural Insurance, Industrial Risk Insurance, and Commercial Risk Insurance. In this article we will look at the different types of National Health Insurance.

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National Health Insurance - Benefits and Plans Online

National Insurance Mediclaim Policy

This policy covers hospitalization expenses which were incurred for treatment of diseases or illnesses contracted during the policy period. It covers more than 140 different types of day care procedures and surgeries.

Features:

• The policy is available for anyone between the age of 18 and 65 years.
• Dependent children aged 3 months and above can also be covered, provided at least one parent is also covered at the same time.
• Dependent Parents can also be covered along with family.
• Sum Assured ranges from Rs 50,000 to Rs 5 lakh, increasing in multiples of Rs 25,000.
• The policy can be renewed lifelong.
• Pre-existing diseases will only be covered after 4 year waiting period.

Benefits:

1. Provides reimbursement for hospitalization expenses under the following heads:

• Room, nursing, and boarding expense – 1% of sum assured per day and 2% of sum assured per day, subject to an overall limit of 25% of sum assured.
• Fees of doctor, surgeon, anaesthetist, specialist, and consultant, subject to an overall limit of 25% of sum assured.
• Expenses for oxygen, blood, anaesthesia, medicines, X-Ray, pacemaker, surgical equipment, operation theatre, chemotherapy, and other similar expenses, subject to an overall limit of 50% of sum assured.
• Ambulance charges up to 1% of sum assured, subject to maximum of Rs 2,000 in a policy period.

1. Ayurveda and Homeopathy treatment are covered up to 20% of sum assured for any one illness.
2. Cover for more than 140 day care treatments which require hospitalization for less than 24 hours.
3. A cumulative bonus of 5% of sum assured is added for every claim free year, provided the policy is renewed without break. At the end of every 4 claim free years, health check-up expenses will be reimbursed, up to 1% of average sum assured.
4. Cashless facility is available at more than 6,000 hospitals across India.
5. If the policy is taken for family, comprising the insured and/or spouse, dependent children and parents, a discount of 10% will be allowed on total premium.
6. Premium is exempt from Income Tax, under Section 80D of the Income Tax Act.

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Indian Money Review Bangalore - Financial Planning For Children Education

Who doesn’t love their kids? It’s a stupid question right? Most people will do anything for their children. Why not a simple child education plans? You would have invested money for their education and marriage.

What is a child education plan? A child education plan combines the benefits of investment and insurance to ensure a bright and secure future for kids.  You get the life cover as a lump sum at the end of the policy term. These plans offer flexible payouts at different important milestones of children’s education. You definitely don’t like to speak about death, but you can’t ignore it. In case of death or a serious medical illness, your child’s education is taken care of.

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Financial Planning For Children Education

What is financial planning for children’s education? If you don’t plan for children’s education, you could fall short of money. College fees and fees for vocational and professional courses are quite high these days. MBA and engineering studies are really expensive. The cost of foreign education is sky high. You definitely need financial planning for children’s education.

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Indian Money Review - 5 Things You Should Know Before Investing In an ELSS

Equity linked savings schemes popularly called ELSS, is an investment-cum-tax saving scheme in India. In ELSS, most of your money is invested in stocks.  It is a good way to get exposure to equity markets.

In an ELSS, the fund manager chooses the best Companies to invest, especially those which enjoy good growth. ELSS not only offers high returns, it also gives tax benefits under Section 80C. Indian Money Bangalore You get a tax deduction up to Rs 1.5 Lakhs a year.

Let’s take a look at the 5 things you should know before investing in ELSS. Want to know more on ELSS? We at Indian Money review will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.

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5 Things You Should Know Before Investing In An ELSS

ELSS is an equity diversified mutual fund which invests most of your money in stocks across sectors. ELSS grows wealth and you enjoy tax benefits. ELSS is one of the faster ways to grow rich.

Always invest in an ELSS scheme which has a five star rating. Select an ELSS with low expense ratio to maximize returns. Expense ratio is the sum total of all charges in a mutual fund. A good ELSS could give 11-14% returns over a 3-year period. It’s even more over a 5 year period.

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Indian Money Reviews Bangalore - Retirement Planning In India

Retirement planning is the process of planning for life after work ends. It includes setting financial and non-financial goals and planning how to achieve them. Financial goals revolve around how much you want to save for each of your goals such as, at what age to retire, how much to save for retirement, where to live and so on.

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Retirement planning has three stages:

1. At the beginning of work life, retirement planning means setting aside money for retirement.

2. In the middle of career, it means saving and allocating money to various asset classes. It also involves taking the necessary steps to achieve expected return on investments.

3. On reaching retirement age, you don’t pay but your investments pay you.

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Indian Money Reviews, Indian Money - Tips To Buy Pension Plans

Right from the day you were born, you had the need to feel secure. You were wrapped tight in the safe arms of your loved ones. They provided for your needs. You grew up to be a young adult, ready to take on the world. You started a family. You became a parent. You made sure that your children got the best education. You built a house. You bought a car. You took the best care of your parents. You made sure your family was secure.

As Per Indian Money Bangalore, Many times you go out of the way to make sure all family needs are met. You’re so involved in meeting immediate needs that you fail to see the big picture. Yes, retirement is the big picture. Needs, wants and demands are unending. So, how long will you postpone retirement planning?

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Tips to buy pension plans

Investments should beat inflation: Ensure that your investment beats inflation because it eats into the value of your savings. If prices rise expenses rise. You’ll have to spend more to buy the same quantity of goods. Make sure your retirement plan earns real returns (adjusted for inflation).

Complementary: According to IndianMoney.com CEO Retirement plan should complement existing retirement savings. If your savings are dominated by conservative instruments like FD, debt instruments and others. The retirement plan should have more exposure to higher risk instruments like equities.

Only Provident Fund is not enough: Contributing to provident fund (EPF and PPF) alone is not enough to guarantee a great retirement life. Only Provident Fund can’t beat inflation. As we discussed, a retirement portfolio should have investments spread over various assets.

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