Col. Sanjeev Govila (retd) of Hum Fauji Investments answers readers’ queries on investments, taxation and personal finance. Do you have a question you want answered? Email your question to feedback@thefinapolis.com
I have read reports which assign top marks to ICICI health insurance policy but would like your unbiased comment. I currently have a health insurance policy of National Insurance but the same is ranked very low in that report. Could you offer me some recommendations?
— Ramesh Vyas, Mumbai
There are many parameters while choosing a good health insurance provider. The most prominent of these are – diseases covered, branch and hospital network, insurance cover, premium charged, claim settlement, loading, out-patient department cover, room rent cap, sub-limits/ co-pay clauses, and other policy riders. Some of the above factors may be more important and others less important for you. Hence, while rankings help, it entirely depends on the parameters that fit you, the weightage given to each one of them in the overall ranking and whether it meets your requirements. The rankings may or may not be partially or fully in line with your requirements.
As far as ICICI Lombard’s health insurance is concerned, it is definitely a good insurer to go ahead with, provided your requirements are met. Hence, my suggestion is to take an insurance company, which has the kind of policy you wish to have, is affordable to you, has a good hospital network in your area where you reside and caters to the diseases that you wish to cover yourself against. The rankings provide a good starting point for your hunt for a good policy but cannot be the sole criteria for deciding it.
How much should my saving be to attain the following goals: Currently I am paying EMI of 26,500 and my personal expenses total 52,000 per month (including house expenses and travel)? My monthly salary is Rs 1,10,000. Could you also break-up the savings in terms of the following parameters? Education fund; Marriage Fund; Health Fund; Travel Fund; Retirement Fund.
— Neenad Kadam, Mumbai
Esta historia es de la edición June 2017 de The Finapolis.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 2017 de The Finapolis.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
7 Ways to Prevent Text Neck
Our head is heavier at an angle than it is at a neutral position. That means our increasing usage of smartphones for reading, texting, etc is putting undue pressure on our spine
How To Take Your Networking To Next Level
Networking is one of the best ways to use your time
5 Fun Ways To Save Money
There are several simple ways to reduce spending and rack up more cash. Sukanta Kundu lists some interesting ones.
In Search of Higher Returns Amid Falling Rates
As Bank Deposit Rates Fall, Even Conservative Investors Are Switching Assets. Where Can They Go?
National Savings Certificates Help as Interest Rates Fall
National Savings Certificates (NSCs) have been among the most popular tax-saving options for ages. In spite of the advent of market-linked investment products such as equity-linked savings schemes (ELSS), the certificates have retained their charm for certain sections of society. In this column, let us discuss the various facets of this special instrument of investment.
What Drives Us to Invest?
I had made the journey from economics to finance. As part of Keynesian economics, we were taught about the three motives to hold money: the transactions motive, the precautionary motive and the speculative motive; all through my teaching career that remained part of my Keynesian economics. But two decades, later when I immersed myself into the world of investment, I had to develop my own tools to understand the new discipline and make my investors understand the working of their own minds. One night as lay turning on my back, poring over the day’s happenings, suddenly I made a strong connection between what I had studied years back and the problem I was grappling with now: the motives.
Ask The Finapolis
Col. Sanjeev Govila (retd) of Hum Fauji Investments answers readers’ queries on investments, taxation and personal finance. Do you have a question you want answered? Email your question to feedback@thefinapolis.com
Input Tax Credit To Benefit End-customer
Looking at the scale of India, it is reasonable to expect 3-5 years for the system to stabilize
Will GST Really Spike Up Your Bills?
As goods and service providers can claim input tax credit, your net tax bill will reduce say experts
The Bull Run Is Here To Stay
Karvy Finapolis’ event —“Is this the mother of all bull runs?” — evoked a thunderous response from investing public recently in Hyderabad.
