Home Loan EMI is an important part of borrower's life till Home Loan is closed. Entire family think, eat, drink and sleep Home Loan EMI. I mean to say, all imp decisions of family revolve around this income "guzzler". As home loan is long term commitment therefore we come across various situations and turning points where we don't know how to handle Home Loan EMI. Any mishandling can have long term financial implications. In this post on "5 Golden Rules of Home Loan EMI", we will discuss 5 such imp rules which should be guiding light to decide. Rules for Home Loan EMI 1. Home Loan EMI as a ... Read More
7 Financial Mistakes You Should AVOID
Everyone is bound to make financial mistakes because of complex personal finance world. Even i also learnt from my financial mistakes after paying price for the same. Financial wisdom says that "Listen to your mind". Most importantly "Heart should not overtake mind while making financial decisions". In my opinion, the biggest problem in our country which in turn is sole reason for committing financial mistakes is "FREE ADVICE". Its a fact that anyone giving FREE FINANCIAL ADVICE will have vested interest in mind. Be it insurance, stock or financial investment. Assuming i ask a bank employee ... Read More
ULIP – Investment or Insurance?
I am always confused whether to refer ULIP as Investment product or Insurance product. It cannot be attributed to my financial illiteracy. ULIP is a mix of both investment and insurance i.e. Jack of all trades. Till date ULIP has a roller coaster ride. Once it was darling of both buyer and the seller then it was most hated product which no investor wanted to touch. Thanks to IRDA for clearing most of the mess around ULIP. Acche Din of ULIP are back with dream run of stock market since Sep'13. In my opinion, fate of ULIP is linked to performance of stock market. Like Mangoes & Strawberry, ... Read More
Best Term Insurance Plans
One of the most common query from my readers is regarding Best Term Insurance Plans in India. In past i wrote an article on 5 Points to consider while buying Insurance Policy. In continuation of this post, recently i bought online term insurance plans for myself and thought of sharing my list of best term insurance plans based on my research, analysis & study. I will try to keep this post very simple and easy to understand. Before you buy term insurance plans it is important to do basic groundwork. I adopted theory of exclusion rather theory of inclusion for selection. I feel that theory ... Read More
Online Term Insurance Plan
Have you ever wondered why LIC is not offering Online Term Insurance at lower premiums. Though the experts say that LIC's high premium is because of High Mortality rate. In my opinion, the real reason is that LIC would not like to offer low premium online term insurance else it will outrage its huge sales force / agents. The premium of LIC term insurance plan is 3-4 times of online term insurance policy like Max Life Online Term Plan, HDFC Life Click2Protect etc. LIC is still following the Mortality table of early 90's to calculate premium for term insurance. Contrary to that in last 15-20 ... Read More