Recently during a casual discussion, one of my readers told that he has opted for joint life insurance cover. Out of curiosity, i asked him the reason for same. He told me that it is cost effective. He bought joint life insurance with his wife. I was actually stumped. This guy availed home loan and was looking for a term insurance to cover the home loan. The insurance agent pitched for joint life insurance and he happily agreed. I was wondering, how can someone buy an insurance just because it is cost effective. He has not checked all the features of the policy. It means insurance company has ... Read More
Married Women Property Act – A 360 degree protection
Married Women Property Act - I am sure, not many people have heard about this act. I was under the impression that lawyers must be aware of Married Women Property Act but i was wrong. Recently, i was discussing a case with one of the lawyer (I am not a lawyer). I shared reference of Married Women Property Act from a personal finance perspective. He was clueless on the same. Anyways, there can be multiple reasons for the same. Only info available on the web is related to section 6 of the Act. In other words, people know about this act because of section 6. Any insurance policy under section 6 ... Read More
Housewives – 5 Steps to Financially Secure The Future
According to a rough estimate, India has approx 60 Mn Housewives. The surveys suggest that there is a very little financial awareness among housewives of the society. Thanks to male-dominated Indian society. In India, financial planning is linked to the breadwinner of the family. Logically, there is nothing wrong in it from a financial perspective. It's a misconception that Financial Planning is always linked to Investment. To financially secure a future and financial planning are different from each other. In past, there was a proposal floated to include the contribution of housewives to the ... Read More
Balanced Funds – Why it is not a Good Option to Invest
Balanced Funds are the new lifeline for Mutual Fund Industry. These funds are also known as hybrid funds. Balanced Funds are of two types i.e. equity oriented and debt oriented. Equity oriented balanced funds invest 65% to 80% in equities and balance in debt instruments. On the other hand, debt oriented balanced funds follow the reverse strategy and invest around 70% to 80% in Debt Instruments and balance in equity. They are also referred as capital protection funds. I explained the same in my post, Should i invest in Capital Protection Funds? For practical purpose, Balanced Funds means ... Read More
House Property Income – 10 Facts You Are Not Aware of
House Property Income is one of the most discussed and debated topics on this blog. There are a lot of misconceptions or myths related to House Property Income. In this ball game, most of the times the tax payer end up paying a higher tax. Therefore, i thought of sharing a post to clarify the most common doubts and misconceptions among the taxpayers. As we are moving towards the end of financial year, i receive maximum queries on tax related topics in last quarter of FY. Another peak season is near the last date of filing of income tax return. The income from house property has a major impact ... Read More
SBI FlexiPay Home Loan – Why you should Avoid
SBI FlexiPay Home Loan is a new Home Loan product from SBI. SBI is the country's largest lender. Obviously, i was expecting a lot of buzz around SBI FlexiPay Home Loan. I also shared in my post, why borrowers prefer SBI Home Loan. As usual, my friends from personal finance space jumped the guns to declare it is as the best product around. I will not get into the nitty gritty of SBI FlexiPay Home Loan. I hope all potential borrowers must have gone through the same. It is always important to analyze a product from end user perspective rather being a seller/marketer. The objective of this blog is ... Read More
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