Telangana : In a company, group health insurance policy offers protection up to Rs 5 lakh. Should an employee purchase another policy? Or is the recharge sufficient? Group health insurance is only an additional protection. It is useful during work. It should not be considered a primary policy. So, adopt your own policy. Try to take out an additional policy.
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A 45-year-old bought a Rs 50 lakh term insurance policy online four years ago. Now can he take another policy up to Rs 50 lakh? He earns Rs 75,000 per month. Insurance companies typically offer coverage ranging from 10 to 22 times annual income, depending on the age of the insured. Looking at this calculation, there is no problem in taking another Rs 50 lakh policy.
Make sure you have insurance for 10 to 12 times your annual income. When taking out a new policy, details of the old policy, income and health information should be given. Premium refund policies are quite expensive. So take out a term insurance policy instead. Get an insurance policy from a company with a good payment history.
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A girl is 10 years old. His parents want to invest up to Rs 15,000 per month in his name. Are there suitable schemes for investing for 10 years? How much will you need to deposit? Currently, education inflation is high. Wherever you invest, make sure you get more returns to meet inflationary costs. Mutual funds diversified in equities can be chosen for this purpose. If you invest at the rate of Rs 15,000 per month for 10 years with an average return of 12%, it will probably be around Rs 31,58,772. Before investing, make sure you have adequate protection for baby’s future needs. Take a term policy for it.
A family wants to take out a home loan of up to Rs 50 lakh in two years. Until then, the idea is to invest Rs. 80 thousand per month. What type of diets to choose for this? They should not invest in risky programs because there is only a duration of two years. Make sure the investment is safe. For this, it is better to choose a recurring bank deposit. Don’t forget loan coverage insurance when taking out a home loan.
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Can a small trader opt for secure schemes such as the public provident fund, the post office’s monthly savings schemes? They want to invest up to Rs 5,000 per month. What should be done to invest for at least 15 years? Besides safe diets, those with a low risk of loss should be considered. Deposit Rs 3,000 out of Rs 5,000 in the Public Provident Fund (PPF). Deposit the remaining 2,000 rupees in diversified mutual funds. If you invest like this for 15 years, it is possible to get Rs 19,06,348 with an average return of 10%.