The small cap funds have been in fashion for quite some time. Last discussion on the fund was done in the month of October 2024( you can check the blog here). It was revised from the last one in March 2024. Since October 2024 , the Mahindra Manulife Small Cap Fund Reg (G) is dropped in this discussion in its place we have included Motilal Oswal Small Cap Fund Reg (G), the fund has delivered exceptional returns so, we have included it here. Though it would need more time to understand if this fund can deliver results consistently or not. Fund Name Year Of inception Fund rating ( Crisil rated ) Portfolio Size ( In Cr ) Expense ratio PE Exit Load Benchmark Quant small cap fund 1996 3 26,221 cr 1.60 22.55 1% for redemption within 365 days Nifty Smallcap 250 TRI Bandhan Small cap fund 2020 4 10,244.1 cr 1.69 11.80 1% for redemption within 365 days BSE 250 Smallcap TRI Hdfc Small cap fund 2008 3 30,880.43 cr 1.61 10.01 1% for redemption within 365 days BSE 250 SmallCap Index (TRI) Nippon India small cap fund 2010 4 58,028.59 cr 1.44 9.33 1% for redemption within 365 days Nifty Smallcap 250 TRI Axis Small cap fund 2013 4 23,317.93 1.61 10.37 For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days Nifty Smallcap 250 TRI HSBC Small Cap fund 2014 2 14,736.99 Cr 1.69 9.91 For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days NIFTY Small Cap 250 TRI SBI small cap fund 2009 3 31,790 cr 1.58 24.13 1% for redemption within 365 days BSE 250 Small Cap Index TRI DSP small Cap fund 2007 3 14,258.03 cr 1.73 20.68 1% for redemption within 364 days BSE 250 Small Cap TRI ITI Small Cap Fund Reg (G) 2020 5 2,293.79 cr 1.96 8.78 1% for redemption within 365 days Nifty Smallcap 250 TRI Motilal Oswal Small Cap Fund Reg (G) 2023 – 4331.97 cr 1.86 29.59 1% – If redeemed on or before 365 days from the date of allotment. Nifty Small cap 250 TRI Quant small cap fund The fund launched in 1996, one of the oldest performing funds in the category, but of course it was not launched by quant but had been taken over by quant, it has 3 star rating . The Portfolio size of 26,221 cr. The portfolio size has remained constant since last review. The fund has PE of 22.55. The expense ratio of the fund is 1.60. Bandhan Small cap fund The fund was launched in the year 2020, and enjoys a 4 star rating. The fund has a portfolio size 10,244.1 cr, which is a substantial increase from the last time. The PE of the fund is 11.60. The ratio of the fund is 1.69 HDFC Small cap fund The fund launched in 2008, with rating of 3 stars, fund size of 30,880 cr, third highest fund size. THe fund has PE of 19.53. The expense ratio of the fund is 1.61. Nippon India small cap fund The fund was launched in 2010, enjoys 4 star rating, highest AUM size of 58,028 cr, the fund size has not moved much since last time. The PE of the fund is 25.02. The expense ratio is 1.44. Axis Small cap fund The fund was launched in 2013, enjoys a 4 star rating from CRISIL. With an AUM of 23,317.93 , the fund has not moved much. PE of the fund is 10.37. The expense ratio is 1.61. HSBC Small Cap fund The fund was launched in the year 2014, 2 star rated fund. The AUM of 14,736.99 cr, this fund has lost AUM since last discussion. The PE of the fund is 27.3. The expense ratio is 1.69 SBI small cap fund The fund was launched in the year 2009, 3 star rated. The AUM of the fund was 31,790 cr. It climbed from 2nd largest fund in the category. The PE of the fund is 24.13. The expense ratio of the fund is 1.58. DSP small Cap fund The fund was launched in 2007, 3 star rated, moved up from 1 star rated. The AUM of the fund of 14,258.03 cr , it did lose a lot of AUM. The PE of the fund is 20.68. The expense ratio of the fund is 1.73 ITI Small Cap Fund Reg (G) The fund was launched in the year 2020, currently rated 5 star, small fund size of 2293.79 cr. The PE of the fund is 28.41. The expense ratio of the fund is 1.96. Motilal Oswal Small Cap Fund Reg (G) The fund was launched in 2023, and has delivered exceptional returns , so it made it to the list. Currently not rated by CRISIL. AUM of the fund is 4331.97cr. The PE of the fund is 29.59. Expense ratio of the fund is 29.59. Trailing Returns : Scheme 1 Year 3 Year 5 Year 7 Year 10 Year 15 Year Quant small cap fund -1.56 27.89 46.85 25.92 19.63 17.17 Bandhan Small cap fund 20.21 33.63 36.25 – – – Hdfc Small cap fund 7.57 26.98 34.38 17.02 18.77 16.78 Nippon India small cap fund 5.02 28.48 38.33 21.51 22.13 – Axis Small cap fund 11.42 23 30.78 21.43 19.02 – HSBC Small Cap fund 3.04 25.02 35.72 17.39 19.65 13.55 SBI small cap fund 1.66 19.51 29.02 17.87 19.45 20.7 DSP small Cap fund 14.43 24.14 33.36 18.28 17.8 18.94 ITI Small Cap Fund Reg (G) 9.48 30.32 29.43 – – – Motilal Oswal Small Cap Fund Reg (G) 21.56 – – – – – 1 year trailing 1st quartile : 16.5- 22 : Bandhan Small cap fund , Motilal Oswal Small Cap Fund Reg (G) 2nd quartile : 11- 16.5 : Axis Small cap fund, DSP small Cap fund 3rth quartile : 5.5- 11  : Hdfc Small cap
The ICICI Pru iProtect Smart is a popular and comprehensive term insurance plan offered by ICICI Prudential Life Insurance. It’s designed to provide financial security to your family in your absence.insurance plan that offers a good range of customisable features and benefits , like life stage benefits, add on riders , multiple payment terms , multiple mode of payments, discounts etc, making it a comprehensive plan to look for when if you are looking for the an term plan. Here in this blog we have detailed the policy ,with its all features and benefits , all the terms conditions , which you can go through to understand the policy in detail. If you do not want to read through the policy you can watch our video Short Video Describing the Policy : Long Video Discussing Policy in Detail : Let Us Look At the Plan. Built In Rider Coverage against death terminal illness – in the opinion of two independent medical practitioners’ specialising in treatment of such illness, is highly likely to lead to death within 6 months – The terminal illness must be diagnosed and confirmed by medical practitioners’ registered with the Indian Medical Association and approved by the Company. – The Company reserves the right for independent assessment. – The Medical Practitioner should neither be the insured person(s) himself nor related to the insured person(s) by blood or marriage nor share the same residence as the Life Assured. Waiver of premium on disability – On diagnosis of Permanent Disability (PD) due to an accident, the future premiums under your policy for all benefits are waived – In the event of PD of the Life Assured after 180 days of the occurrence of the accident, the Company shall not be liable to pay this benefit. What is disability if person is not able to perform 3 out of 6 activities • Mobility: The ability to walk a distance of 200 meters on flat ground. • Bending: The ability to bend or kneel to touch the floor and straighten up again and the ability to get into a standard saloon car, and out again. • Climbing: The ability to climb up a flight of 12 stairs and down again, using the handrail if needed. • Lifting: The ability to pick up an object weighing 2kg at table height and hold for 60 seconds before replacing the object on the table. • Writing: The manual dexterity to write legibly using a pen or pencil, or type using a desktop personal computer keyboard. • Blindness – permanent and irreversible – Permanent and irreversible loss of sight to the extent that even when tested with the use of visual aids, vision is measured at 3/60 or worse in the better eye using a Snellen eye chart. T & C – The disability should have lasted for at least 180 days without interruption from the date of disability and must be deemed permanent by a Company empanelled medical practitioner T & C -Attempted suicide or self-inflicted injuries while sane or insane, or -whilst the Life Assured is under the influence of any narcotic substance or – drug or intoxicating liquor except under the direction of a medical practitioner; – Engaging in aerial flights (including parachuting and skydiving) other than as a fare paying passenger or crew on a licensed passenger-carrying commercial aircraft operating on a regular scheduled route – The Life Assured with criminal intent, committing any breach of law – Due to war, whether declared or not or civil commotion – Engaging in hazardous sports or pastimes, e.g. taking part in(or practicing for) boxing, caving, climbing, horse racing, jet skiing, martial arts, mountaineering, off site skiing, pot holing, power boat racing, underwater diving, yacht racing or any race, trial or timed motor sport. – PD due to accident must be caused by violent, external and visible means – No benefit is paid if the Life Assured’s death occurs 180 days after the accident. Optional Rider Accidental Death Benefit – An case of death due to an accident within Accidental Death Benefit term, we will pay your nominee/legal heir AD Benefit as lump sum. – It can be added anytime during policy except in last 5 years – There must not have been any claim in the policy till the time of opting of AD Benefit – The AD Benefit starts from the next policy anniversary and continues for the remaining policy term or until age 80, whichever is sooner. – Life Assureds then age must be less than or equal to 55 years – once added cannot be removed – For the Accidental Death Benefit to apply, injuries from the accident must directly cause the Life Assured’s death within 180 days and before coverage ends. – No benefit is paid if the Life Assured’s death occurs 180 days after the accident. SI Min 1L Max is 3 times of Sum Assured , subject to maximum Board approval T & C -Attempted suicide or self-inflicted injuries while sane or insane, or -whilst the Life Assured is under the influence of any narcotic substance or – drug or intoxicating liquor except under the direction of a medical practitioner; – Engaging in aerial flights (including parachuting and skydiving) other than as a fare paying passenger or crew on a licensed passenger-carrying commercial aircraft operating on a regular scheduled route – The Life Assured with criminal intent, committing any breach of law – Due to war, whether declared or not or civil commotion – Engaging in hazardous sports or pastimes ,e.g. taking part in(or practicing for) boxing, caving, climbing, horse racing, jet skiing, martial arts, mountaineering, off site skiing, pot holing, power boat racing, underwater diving, yacht racing or any race, trial or timed motor sport. – PD due to accident must be caused by violent, external and visible means Accelerated Critical Illness Benefit -The ACI Benefit offers you coverage against 34 critical illnesses -This benefit is payable, on first occurrence of any of the
Manipal Cigna LifeTime Amount Remark Max cover 50/75/100/150/200/300 L 50/75/100/150/200/300 L 50/75/100/150/200/300 L Age Child : 91 Days – 25 Years Adult : 18 years – 65 years Child : 91 Days – 25 Years Adult : 18 years – 65 years Child : 91 Days – 25 Years Adult : 18 years – 65 years Waiting Period 30 days 30 days 30 days Pre existing diseases 24 months 24 months 24 months Specified diseases 24 months 24 months 24 months Bariatric surgery waiting period 24 months ( Add on) ( Health +) 24 months ( Add on) ( Health +) 24 months ( Add on) ( Health +) Maternity waiting period NO NO NO Mental illness cover waiting period NA NA – cover pertains to IPD coverage for anxiety, stress, depression OPD waiting period 30 days 30 days 30 days Dental OPD waiting period 30 days 30 days 30 days Critical illness waiting period 90 days( add on) – survival waiting period of 30 days 90 days( add on) – survival waiting period of 30 days 90 days( add on) – survival waiting period of 30 days Pre Policy medical Test After 55 years no charges on test. even if policy is rejected Co -payment No No No Deductibles ADD on 5/10 L 5/10 L Aggregate Deductible Not applicable health check up Premium waiver option Optional packages – Healh+, Women+, Critical illness add on rider, First claim SI SI + Bonus SI + Bonus SI + Bonus Maximum claim SI/ Restored SI + Bonus SI/ Restored SI + Bonus SI/ Restored SI + Bonus Room Rent caping Yes / Add on (360 Advance) upto SI, – SI upto 2 Cr any room except suite or higher category – SI 2 cr to 3 cr covered any room category -Add on (360 Advance- Any Category Room ) – SI upto 2 Cr any room except suite or higher category – SI 2 cr to 3 cr covered any room category including suite rooms – Rider health 360 advance – any room category If the Insured Person is admitted to a room category higher than the one specified in the Policy Schedule, the Policyholder/Insured Person shall bear a ratable proportion of the total Associated Medical Expenses (including surcharge or taxes) in proportion to the difference between the room rent of the entitled room category and the room rent actually incurred. ICU cover Yes upto SI upto SI Disease Based caping No No No IPD Yes / Add on (360 Advance) upto SI, – SI upto 2 Cr any room except suite or higher category – SI 2 cr to 3 cr covered any room category -Add on (360 Advance- Any Category Room ) a. Reasonable and Customary charges for Room Rent for accommodation in Hospital room up to room category as per the Sum Insured1. b. Intensive Care Unit charges, c. Operation theatre charges, d. Fees of Medical Practitioner/ Surgeon, e. Anaesthetist, f. Qualified Nurses, g. Specialists, h. Cost of diagnostic tests, i. Medicines, j. Drugs and consumables, blood, oxygen, surgical appliances and prosthetic devices recommended by the attending Medical Practitioner and that are used intra operatively during a Surgical Procedure.we will cover the expenses towards artificial life maintenance, including life support machine use, even where such treatment will not result in recovery or restoration of the previous state of health under any circumstances unless in a vegetative state, as certified by the treating Medical Practitioner.- Medical exnses related the eternal feeding is covered for max 15 days in a policy year Pre Hospitalisation 60 days upto SI upto SI Post Hospitalisation 180 days upto SI upto SI Day Care procedure Yes upto SI All day care treatment covered Advance technology method Yes upto SI – The following Modern and Advanced Treatment methods will be covered when availed under In-patient Hospitalization or as a Day Care Treatment: • Uterine Artery Embolization and HIFU • Balloon Sinuplasty • Deep Brain stimulation • Oral chemotherapy • Immunotherapy – Monoclonal Antibody to be given as injection • Intra vitreal injections • Stereotactic radio surgeries • Bronchial Thermoplasty • Vaporisation of the prostate (Green laser treatment or holmium laser treatment) • IONM ( Intra Operative Neuro Monitoring) • Stem cell therapy – Hematopoietic stem cells for bone marrow transplant for haematological conditions to be covered. Home care treatment NA NA NA Domiciliary treatment Healthcare Yes upto 10% SI i. The condition of the Insured Person does not allow a hospital transfer: or ii. Hospital bed was unavailable provided that the treatment of the Insured Person continues at least 3 days in which case the reasonable cost of any Medically Necessary treatment for the entire period shall be payable.-upto 10% SIThe following are not covered – • Asthma, bronchitis, tonsillitis, and upper respiratory tract infection including laryngitis and pharyngitis, cough and cold, influenza, • Arthritis, gout and rheumatism, • Chronic nephritis and nephritic syndrome, • Diarrhoea and all type of dysenteries, including gastroenteritis, • Diabetes mellitus and insipidus, • Epilepsy, • Hypertension, • Pyrexia of unknown origin. • Any use of artificial life maintenance including life support machine use. -Consumables Alternate treatment ( AYUSH) Yes Upto SI The following exclusions will be applicable in addition to the other Policy exclusions: i. Facilities and services availed for pleasure or rejuvenation or as a preventive aid, like beauty treatments, Panchakarma, purification, detoxification and rejuvenation. Organ Donor expenses Yes upto SI – Donor for harvesting the organ – No pre and post covered – No cost in consequent to harvesting – Stem cell donation even if medically neccesaary except bone marrow transplant – No cost coverage organ transportation or preservation expenses – No cost for donor screening , cost of acquisition of organ. any medical complication during harvesting of organ Road Ambulance Yes upto SI – to nearest Hospital – Diagnostic centre for advanced diagnostics – to move to better hospital due to lack of super speciality treatment in current hospital – The neccessaity of use
Last week, a significant report hit the financial wires: the India Protection Quotient (IPQ) 7.0, a collaborative effort by Axis Max Life Insurance Ltd. and KANTAR, the world’s leading marketing data and analytics company. The report can be accessed on the link (https://www.axismaxlife.com/maxlife-ipq). This year’s IPQ offers an invaluable deep dive into the evolving financial preparedness of urban India, revealing both encouraging progress and critical areas that still demand our collective attention. The Bright Spots: Urban India’s Growing Financial Resilience The IPQ 7.0 paints a largely optimistic picture of how urban Indians are approaching financial security. We’re seeing some truly positive trends: Record-High Protection Quotient: Urban India’s Protection Quotient has made an impressive leap to 48, up significantly from 35 in 2019. This growth is largely fueled by a deeper adoption of term insurance and the growing influence of digital platforms in financial decisions. Surging Life Insurance Ownership: For the first time, life insurance ownership has reached an all-time high, with a remarkable 78% of urban Indians now owning one or more life insurance products. This clearly indicates a broadening acceptance and understanding of its importance. Improved Financial Literacy: The Knowledge Index, a key indicator of financial awareness, has improved to 63 (up by two points), signifying that urban Indians are becoming more knowledgeable about life insurance and its benefits. Prioritizing Protection Over Price: Perhaps the most compelling shift is the change in consumer mindset. For the first time, 3 out of 4 urban Indians are prioritizing ‘cover’ over ‘cost’ when purchasing term life insurance. With 56% expressing confidence in their existing protection, it signals a growing maturity in how individuals view and secure their financial future. Gen-Z Leads with Proactive Planning: The youngest adult cohort, Gen-Z, is emerging as a standout. They boast a Protection Quotient of 41, with two-thirds already owning life insurance. Their strong intent toward mid-term goals like buying a house, a car, or planning vacations, coupled with their early adoption of protection, is truly commendable. Regional Shifts and Strengths: South India continues its seven-year lead, driven by increased term insurance (33% to 37%) and savings product ownership (42% to 46%). West India has shown significant strides, achieving the highest term plan ownership ever recorded in IPQ history at 41%. North India also improved its Protection Quotient through better term plan uptake (28% to 31%). East India, however, remains an area requiring more focused intervention, with stagnant ownership despite growing awareness. Salaried vs. Self-Employed: While the salaried class maintains a lead in Protection Quotient, it’s encouraging to see the self-employed segment showing gains in financial security, though there’s still a gap in their overall insurance ownership. The Unfinished Agenda: Challenges and Overlooked Realities Despite these encouraging numbers, the IPQ 7.0 also sheds light on some critical issues that demand our immediate attention and a more nuanced discussion: The Affordability Hurdle: A significant concern is that nearly 1 in 4 individuals still cite term insurance affordability as a major hurdle, with an increase in those (from 21% to 25%) feeling a lack of funds. This raises a pertinent question: in an era where consumers are readily embracing EMIs for discretionary pleasures like new phones, why is a crucial protection for family security still considered “too costly”? This paradox highlights a need for better education on value vs. perceived cost. The Gender Protection Gap: The report underscores a concerning disparity. While men saw their Protection Quotient rise to 50 (from 47), working women’s Protection Quotient remained stagnant at 48. Furthermore, women reported lower financial security for key life milestones such as retirement, children’s education, and marriage. This discrepancy points to a persistent oversight: the invaluable financial contribution of working women to families is often still undervalued or not adequately covered in family financial planning. Low Insurance penetration in North : It seems the geographic divide the people of north still need to think about buying insurance for protection of family. Though it had improved better with term plan foundation which i believe is a good signal. Time for Deeper Questions and Inclusive Planning These findings make it abundantly clear that while awareness is rising, there’s a vital need for individuals to engage with qualified financial advisors. Advisors can help demystify complexities and facilitate truly effective planning. It’s high time we integrate some fundamental, often overlooked, questions into every financial discussion: How much protection is truly sufficient for a family’s unique needs? Why is the wife’s insurance not consistently considered and prioritized while planning a family’s overall financial protection? Making insurance a part of more holistic financial planning rather than just looking as a standalone instrument ? We need to move beyond outdated norms and ensure that financial protection is optimised for the entire family unit, recognising and covering the contributions of all members, not just the primary earner. If you are stuck or not able to find how to by life insurance plan do reach out to me. I would help you out with the same. Reach out to us today.
Imagine a future where your financial well-being isn’t a constant source of worry, where you feel confident in your ability to navigate life’s uncertainties, and where your long-term goals seem within reach. For many, this vision of a secure financial future encompasses a comfortable retirement, the capacity to handle unexpected expenses without significant disruption, and perhaps even the ability to leave a lasting legacy for loved ones or support causes that matter most. Achieving such security in today’s complex financial landscape can feel overwhelming, but there is a professional who can help you chart a course toward these aspirations: a wealth management advisor. Demystifying the Wealth Management Advisor Wealth management advisors are professionals who offer personalized financial advice and services to individuals with significant assets. These professionals play a crucial role in assisting clients with various aspects of their financial lives, including Investment management, Retirement planning, Tax strategies, Estate planning. Their primary aim is to simplify complex financial matters, providing highly personalized support and strategies tailored to each client’s unique circumstances, goals, and priorities. With expertise spanning finance, accounting, and even law in some cases, wealth management advisors offer comprehensive guidance that extends beyond simple investment advice. They often coordinate a range of financial services, acting as a central point of contact to manage a client’s assets holistically and create a strategic plan that addresses both current and future needs. It’s important to understand the nuances between a wealth advisor and a general financial advisor. While both types of professionals aim to help clients achieve their financial goals, wealth managers are often considered a subset of financial advisors who typically serve more affluent clients. Wealth managers tend to offer a more in-depth analysis of financial plans, bringing additional tools and specialization that are particularly beneficial for individuals with higher net worth. Their services may extend beyond basic financial advice to include areas like sophisticated estate planning, tax optimization, and long-term legacy planning. In contrast, financial advisors may work with a broader range of individuals across varying income levels. Wealth management often involves a more comprehensive and hands-on approach, reflecting the complexity and scale of the financial lives they manage. The Comprehensive Services Offered by Wealth Management Advisors Personalised Financial Plan : A cornerstone of wealth management is the creation of a personalized financial plan, acting as a detailed roadmap to help clients achieve their specific objectives. This process begins with the advisor gaining a thorough understanding of the client’s unique goals, risk tolerance, and overall financial situation. Based on this understanding, wealth management advisors develop tailored strategies that utilize a diverse array of financial products and services to help clients reach their aspirations. These plans are not static; they are designed to be dynamic tools that evolve alongside the client’s life circumstances and changing needs. They support not only financial goals but also reflect the client’s lifestyle, core values, and personal priorities. Strategic investment management : Strategic investment management is another critical service offered by wealth management advisors. These professionals work with clients to assess their tolerance for risk and then provide an investment strategy designed to help them achieve their financial goals. This involves not just selecting investments but also actively managing and planning investment portfolios with the aim of maximizing returns while adhering to the client’s risk parameters. A key element of this service is diversification, spreading investments across various asset classes to mitigate risk and enhance the potential for long-term growth. Wealth management advisors also provide ongoing monitoring and rebalancing of these investments to ensure they remain aligned with the client’s objectives and adapt to changing market conditions. For eligible clients, they may also offer guidance on a range of investment vehicles, including alternative investments, to further diversify and potentially enhance portfolio returns. Retirement Planning : Retirement planning is a significant focus for wealth management advisors, as they help clients create a comprehensive blueprint for a financially secure and worry-free future. This involves a thorough analysis of the client’s projected needs after retirement, along with their current income, spending habits, and savings. Advisors identify the types of retirement accounts best suited to the client’s needs and develop strategies to maximize their retirement savings. Recognizing the increasing costs of healthcare in retirement, wealth management advisors also play a vital role in helping clients plan for these significant expenses. Furthermore, they assist in establishing retirement income strategies, outlining how clients can best access their savings to create a sustainable income stream throughout their retirement years, and developing appropriate withdrawal plans. Estate Planning : Estate planning and wealth transfer are also crucial services offered by wealth management advisors. They help clients develop clear plans for the transfer of their wealth, including strategies for charitable giving and managing estate taxes, all in alignment with their values and wishes. Wealth management advisors often coordinate with estate planning attorneys to assist clients in the creation of wills, trusts, and other necessary legal documents to ensure their assets are distributed according to their intentions. They also help clients evaluate the effectiveness of their existing estate plans, assessing asset titling and beneficiary designations to ensure a smooth and efficient transfer of wealth. A significant aspect of this service involves helping clients minimize the impact of estate and inheritance taxes through various advanced planning strategies. Tax optimisation : Tax optimisation is another key area where wealth management advisors provide valuable assistance. They often coordinate with a client’s tax professionals to develop strategies aimed at minimising their overall tax obligations. This involves identifying opportunities for tax efficiency across various aspects of their financial lives, including income, investments, and estates. These strategies may include the strategic placement of assets in tax-advantaged accounts, as well as optimising the timing and methods of retirement distributions to reduce tax liabilities. Protecting wealth : Protecting wealth is just as critical as growing it, and wealth management advisors employ a range of risk management and insurance strategies to safeguard their clients’ assets against unforeseen circumstances. This includes a thorough assessment of potential
Before we discuss this edition we did our analysis , the earlier we did our analysis about 6 months back. You can read the blog mid cap fund analysis 2024 an analysis.  Certain fund which were under discussion have been removed as they could not keep either the returns or fund size was not considerable. HSBC Midcap Fund Reg growth PGIM India Mid Cap Opp Fund Reg growth ITI Mid Cap Fund Reg – I have included this fund as it was very new fund and it was top performer on 1 year basis, but now is bottom performer. This goes to show that top performer lose next year and we have to find fund which can help us build wealth I have included below funds which have been top performer. Invesco India Mid Cap Fund (G) WhiteOak Capital Mid Cap Fund Reg (G) As always refer to a advisor or reach out to me to help you with best portfolio. Fund Name Year Of inception Fund rating ( Crisil rated ) Portfolio Size ( In Cr ) Expense ratio PE ratios Exit Load Benchmark HDFC Mid Cap Opportunities Fund 2007 4 72,610.08 cr 1.42% 20.91 1% for redemption within 1 year NIFTY MidCap 150 Index(Total Returns Index) Motilal Oswal Midcap Fund Reg 2014 5 26,028.34 cr 1.57% 41.71 1% for redemption within 1 year Nifty Midcap 150 TRI Nippon India Growth Fund 1995 4 33,174.74 cr 1.58% 24.41 1% for redemption within 30 days Nifty Midcap 150 TRI Edelweiss Mid Cap Fund 2007 5 8633.85 1.7% 12.16 1% for redemption within 90 days Nifty Midcap 150 TRI Quant MidCap Fund 2008 1 8,355.95 1.78% 22.27 0.5% for redemption within 90 days Nifty Mid Cap 150 TRI Kotak Emerging Equity (G) 2007 3 48,128.71 1.46 26.17 For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days Nifty Midcap 150 TRI Axis Mid cap fund(G) 2011 3 28,063.01 1.58 18.93 For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days BSE 150 Midcap TRI SBI Magnum MidCap Fund Reg (G) 2005 3 20,890.26 1.67 30.97 1% for redemption within 1 year Nifty Midcap 150 Index (TRI) Invesco India Mid Cap Fund (G) 2007 5 5779.32 1.82 32.13 For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days BSE 150 Midcap TRI WhiteOak Capital Mid Cap Fund Reg (G) 2022 – 2744.56 1.96 21.86 1% for units redeemed before 1 month BSE Midcap 150 TRI ITI Mid Cap Fund Reg (G) 2021 4 1091.64 2.07 12.60 1% for redemption within 1 year Nifty Midcap 150 TRI HDFC Mid Cap Opportunities Fund : The fund was launched in 2007 enjoys 5 star rating from CRISIL, Portfolio size of 72,610 cr one of the biggest fund sizes. Expense ratio of the fund is 1.42%. The exit load is 1% for redemption before 1 year. Fund PE IS 20.91 MotilalOswal Mid cap fund: The fund was launched in the year 2014, its 5 star rating by CRISIL. The fund size is 26,028.34 Cr. The expense ratio is 1.57% , PE of the fund is 41.71. Exit load is 1 % for redemption within 1 year . Nippon India Growth Fund : The fund was launched in the year 1995, one of very early funds in the industry,4 star rated by CRISIL, good fund size of 33,174 cr. The expense ratio is 1.58% . The PE of the fund is 24.41. The exit load applicable is 1% for redemption within 30 days. Edelweiss Mid Cap Fund : The fund was launched in the year 2007, It is currently 5 star rated by CRISIL, with a decent fund size of 8633 cr. The expense ratio of the fund is 1.7%. PE of the fund is 12.16. Exit load applicable is 1% for redemption within 90 days. Quant MidCap Fund: The fund was launched in the year 2008, its currently 1 star rated by CRISIL, has a decent portfolio size of 8,355.95 cr. Expense ratio of 1.78% and PE of the fund is 22.27. The fund exit load is 0.5% for redemption within 90 days. Kotak Emerging Equity : The fund was launched in the year 2007, 3 star rated by CRISIL, second highest fund size in the category, expense ratio of 1.46%. PE of 26.17. The Exit laid applicable units in excess of 10% of investment 1% would be charged for redemption with in 365 days Axis Mid cap fund Fund: The fund was launched in the year 2011, 3 star CRISIL rated, with a great fund size of 28,063.01 cr. The expense ratio of the fund is 1.58. PE of the fund is 18.93. Exit load on the fund is For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days. SBI Magnum MidCap Fund: The fund was launched in 2005, a 3 star rated fund. Good fund size of 20,890.26 cr. Expense ratio of 1.67. PE of the fund is 30.97. The exit load applicable on the fund is 1% for redemption within 1 year. Invesco India Mid Cap Fund (G): The fund was launched in 2007 , it is rated 5 star from CRISIL.Fund size of 5779.32 Expense ratio is 1.82. PE of 32.13. The exit load applicable on the fund is For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days WhiteOak Capital Mid Cap Fund Reg (G): The fund was launched in the year 2022, It is not rated as per CRISIL, The fund size of 2744.56cr. The expense ratio of the fund is 1.96. PE of the fund is 21.86. The exit load on fund is 1% for units redeemed before 1 month ITI Mid Cap Fund Reg (G) : This fund was launched in the year 2021. It is rated as 4 star by CRISIL, with a very small fund
Are you feeling overwhelmed by your finances? Ever feel like you’re juggling a million financial balls in the air? Savings, investments, retirement, taxes… it can get overwhelming, right? Do you have big dreams for the future but aren’t sure how to get there? If so, you’re not alone. Many people find it challenging to manage their wealth effectively. That’s where a wealth management advisor comes in. Think of a wealth management advisor as your financial partner, someone who provides expert guidance and support to help you achieve your financial goals. They’re not just for the ultra-rich; they can benefit anyone who wants to build a secure financial future. Let’s break down the top 10 reasons why having a wealth management advisor in your corner today can be a game-changer: Get Crystal Clear on Your Big Picture: What does your ideal future look like? Maybe it’s retiring early and traveling the world, or perhaps it’s ensuring your kids have a debt-free start to their adult lives. A wealth management advisor helps you define these often-vague dreams into concrete, achievable financial goals. For instance, they might help you calculate exactly how much you need to save each month to retire comfortably by age 60. Personalized Financial Strategy You wouldn’t build a house without a blueprint, so why navigate your financial life without one? A wealth management advisor will work with you to create a comprehensive financial plan. This isn’t just about investments; it’s about understanding your entire financial ecosystem – your income, expenses, debts, and assets – and how they all work together. Imagine having a clear, step-by-step guide to reach your financial milestones. Expert Navigation Through Financial Storms: Life is full of surprises, and sometimes those surprises have financial implications. Whether it’s a job loss, a sudden death, or a major market downturn, a wealth management advisor can provide objective guidance and help you make sound decisions during challenging times. Think of them as your steady hand on the wheel when things get rocky. Smart Investment Strategies Tailored Just for You: Investing isn’t one-size-fits-all. A wealth management advisor takes the time to understand your risk tolerance, time horizon, and financial goals to build a diversified investment portfolio that aligns with your unique circumstances. For example, if you’re young and have a long time horizon, they might recommend a portfolio with a higher allocation to growth stocks. Unlock Tax-Saving Secrets: Taxes can take a significant bite out of your wealth. A knowledgeable wealth management advisor can help you implement tax-efficient strategies, from choosing the right types of investment accounts to exploring potential deductions and credits. This can translate into significant savings over time. Retire with Confidence and Security: Retirement might seem far away, but planning for it now is crucial. A wealth management advisor can help you determine how much you need to save, explore different retirement income streams, and create a plan to ensure you have the financial freedom to enjoy your post-working years. Protect What Matters Most: What would happen to your loved ones if the unexpected occurred? A wealth management advisor can help you assess your insurance needs (life, disability, long-term care) and guide you in creating an estate plan, including wills and trusts, to protect your family and ensure your assets are distributed according to your wishes. An Unbiased Voice in a Noisy World: It’s easy to get swayed by the latest investment trends or emotional reactions to market news. A wealth management advisor provides an objective and rational perspective, helping you stay focused on your long-term goals and avoid impulsive decisions that could derail your financial plan. Reclaim Your Precious Time: Let’s be honest, managing your finances effectively takes time and effort. By partnering with a wealth management advisor, you can offload the burden of research, analysis, and ongoing management, freeing up your time to focus on what truly matters to you. Stay on the Path to Success with Ongoing Support: Your financial journey isn’t a one-time event; it’s an ongoing process. A wealth management advisor provides continuous support, monitors your progress, and makes adjustments to your plan as your life circumstances and the market evolve. They’re your long-term partner in achieving your financial aspirations. Ready to Take Control of Your Financial Future? If any of these reasons resonate with you, it might be time to consider partnering with a wealth management advisor. You need not look further; you can hear what our customer says about our services. What are your biggest financial concerns right now? Let’s think about it and contact us to learn about the same.
A recent insightful article in the Wealth Edition of the Economic Times explored the crucial topic of financial planning for foreign education, covering aspects like funding, insurance, loans, and study destinations. Building on this foundation, this article will delve deeper into the financial strategies essential for funding any child’s education, whether at home or abroad. The desire for quality education for their children is a strong one for most parents. The HSBC Quality of Life Report 2024 highlighted this, revealing that a significant 78% of parents are either actively planning to send their children for overseas education or already have a child studying abroad. However, pursuing education, especially internationally, can be a substantial financial undertaking, particularly for families who haven’t planned diligently. For those who haven’t prepared at all, the situation can be even more challenging. The Cost of Delay: Why Procrastination Can Derail Dreams Regrettably, many parents only begin to consider the financial implications of their child’s educational aspirations when those dreams are almost within reach. By then, they often find themselves lacking the necessary resources to provide adequate support. This can lead to the heartbreaking scenario of a child’s ambitions being curtailed, or families being forced to explore less desirable alternatives. Consider the pitfalls of delayed planning: Education Loans with High Interest: Education loans can come with significant interest rates, ranging from 8.20% to 13.70%, and may be secured or unsecured. This can place considerable pressure on young graduates who are just starting their careers and are immediately burdened with debt repayment. Raiding Retirement Funds: A Dangerous Gamble: Another tempting but ill-advised option is for parents to dip into their retirement savings, such as funds in PPF or EPF. This is a critical mistake, as retirement security cannot be recovered through loans later in life. If facing such a dilemma, securing an education loan today is a far more prudent choice than jeopardizing your future financial stability. If you are stuck with the above option taking a loan today is better not to use your Retirement corpus. Understanding the Spectrum of Educational Costs: When formulating your financial plan, it’s essential to consider the full range of expenses involved: Tuition Fees: The Cornerstone Expense: This will invariably be the most significant component of your educational budget. These fees fluctuate considerably based on the chosen course, the institution, and the country of study.  Accommodation: A Major Variable: Whether your child studies domestically or internationally, accommodation costs represent another substantial expense. While some institutions offer on-campus housing, many students, especially those abroad, need to seek off-campus options, with varying associated costs.  Cost of Living: Beyond Tuition and Housing: Students will also incur daily living expenses, including food, transportation, and recreational activities, which need to be factored into your planning.  Health Insurance: A Non-Negotiable Expense: Health insurance is typically a mandatory cost, especially for students pursuing education abroad. The Impact of Inflation and Currency Fluctuations: When planning for your child’s future education, it’s crucial to acknowledge the eroding effect of inflation on all the aforementioned expenses. Furthermore, for overseas education, currency depreciation can significantly inflate costs. Some sources suggest that these costs can inflate by as much as 10% annually, a rate considerably higher than general inflation.  (https://www.gyandhan.com/blogs/inflation-and-exchange-rate-effect-on-study-cost-in-usa) Therefore, proactive financial planning for your children’s education is not just advisable; it’s a necessity, regardless of whether their academic path leads them to local institutions or universities across the globe. It’s about strategically preparing to empower their academic journey without jeopardizing your own financial well-being. Why Early Planning is Crucial: The earlier you begin planning for your child’s education, the greater the benefits: Power of Compounding: Starting early allows your investments to benefit from the magic of compounding. This means that the earnings on your initial investment also start earning returns, leading to exponential growth over time.  Smaller Contributions Over Time: Spreading your savings over a longer period means you can contribute smaller amounts regularly rather than facing a large financial burden closer to their educational years. More Investment Options: With a longer time horizon, you have more flexibility to explore various investment options that may carry slightly higher risk but also the potential for greater returns. Reduced Financial Stress: Knowing you have a plan in place can significantly reduce the stress and anxiety associated with funding your child’s education as they get older.  Flexibility to Adapt: Early planning allows you to adapt your strategy if your child’s educational path changes or if unforeseen circumstances arise.  Key Steps in Financial Planning for Education: Define Your Child’s Potential Educational Path and Estimate Costs: While it’s impossible to predict the future with certainty, start by considering the potential educational pathways your child might pursue. Will they attend private or public primary and secondary schools? Are you envisioning a local college or one out of state or even overseas? Research current education costs and factor in inflation. Historical inflation rates for education can provide a guideline, but it’s wise to err on the side of caution and project a reasonable increase. For example, if a bachelor’s degree currently costs ₹15 lakh, estimate what it might cost in 15-18 years, considering an average inflation rate of, say, 5-7% per annum. Don’t forget to include associated costs like accommodation, books, supplies, and living expenses if they plan to study away from home. Assess Your Current Financial Situation: Take a clear look at your current income, expenses, savings, and debts. Understand how much you can realistically allocate towards your child’s education fund without compromising your other financial goals, such as retirement planning or emergency savings. Identify potential sources of funding, including your regular income, existing savings, and any potential future inheritances or windfalls. Set Clear Financial Goals and Timelines: Based on your estimated costs and current financial situation, set specific financial goals for each stage of your child’s education (e.g., saving ₹X by the time they finish high school, ₹Y by the time they start their undergraduate degree). Establish clear timelines for achieving these goals. This will
Fund Name Year Of inception Fund rating ( Crisil rated ) Portfolio Size ( In Cr ) Expense ratio Exit Load HDFC Balanced Advantage Fund (G) 1994 4 90,375 1.37 For units in excess of 15% of the investment, 1% will be charged for redemption within 365 days ICICI Pru Balanced Advantage Fund Reg (G) 2006 2 58,717 1.48 For units in excess of 30% of the investment, 1% will be charged for redemption within 1 year Aditya Birla SL Balanced Advantage Fund (G) 2000 2 6,988 1.82 0.25% – 0-7 days 0.00% – >7 days Edelweiss Balanced Advantage Fund (G) 2009 2 11,697 1.69 Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 90 day Nippon India Balanced Advantage Fund (G) 2004 – 8,431 1.76 For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days SBI Balanced Advantage Fund Reg (G) 2021 – 32,530 1.59 For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days Kotak Balanced Advantage Fund Reg (G) 2018 – 15,813 1.67 For units in excess of 8% of the investment, 1% will be charged for redemption within 365 days Axis Balanced Advantage Fund Reg (G) 2017 – 2,625 1.99 For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days Baroda BNP Paribas Balanced Advantage Fund 2018 – 3,833 1.89 For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days HDFC Balanced Advantage Fund (G) : The fund was launched in the year 1994, it is CRISIL rated as 4 star, It has one of the largest portfolio fund size of 90,375 Cr. Expense ratio of 1.37. The fund offers an exit load for units excess of 15% of investment 1% < 1 Year of investment.  ICICI Pru Balanced Advantage Fund Reg (G): This fund was launched in the year 2006, It is CRISIL rated as 2 star. It has another big size of 58,717 cr. Expense ratio of 1.48. Exit load applicable is for excess of units redeemed above 30% , 1% for less than 1 year. Aditya Birla SL Balanced Advantage Fund (G) : This again one the oldest funds in the industry launched in 2000, The fund has AUM of 6,988 cr. The fund has an expense ratio of 1.82. It offers an exit load of 0.25% for less than 7 days. Edelweiss Balanced Advantage Fund (G) : The fund was launched in the year 2009, It has AUm of 11,697. The fund has an expense ratio of 1.69. Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 90 day Nippon India Balanced Advantage Fund (G) : The fund was launched in the year 2004, unrated as per CRISIL, It has the fund size of 8,431. The fund has an expense ratio of 1.76. The exit load on the fund units in excess of 10% of investment 1% before 365 days. SBI Balanced Advantage Fund Reg (G) : The fund was launched in the year 2021, the size of the fund is 32,530 cr. The fund has an expense ratio of 1.59 . The expense ratio of the fund is excess of 10% of the investment 1% will be charged before 365 days. Kotak Balanced Advantage Fund Reg (G) : This fund was launched in the year 2018, Unrated as per CRISIL. The fund has a size of about 15,813 cr. The expense ratio of the fund is 1.67. Exit laid applicable is Units in excess of 8% at 1% before 365 days of investment. Axis Balanced Advantage Fund Reg (G): This fund was launched in the year 2017, It is still unrated by CRISIL. The fund has a small fund size of 2,625 cr. The expense ratio of the fund is 1.99. Exit load units in excess of 10% of investment charged at 1% before 365 days of investment. Baroda BNP Paribas Balanced Advantage Fund(G) : The fund was Launched in the year 2018, Currently unrated. The fund has a size of 3,833 cr. The expense ratio of the fund is 1.89. Exit load is units excess of 10% of investment 1% charged before 365 days. Trailing Returns : Scheme 6 months 1 year 3 years 5 years 7 years 10 years HDFC Balanced Advantage Fund (G) -4.27 10.21 20.14 28.95 15.65 13.55 ICICI Pru Balanced Advantage Fund Reg (G) -2.96 8.83 12.23 19.36 11.3 10.62 Aditya Birla SL Balanced Advantage Fund (G) -3.7 11.63 11.79 18.99 10.7 10.6 Edelweiss Balanced Advantage Fund (G) -6.03 8.19 11.2 18.02 12.22 10.08 Nippon India Balanced Advantage Fund (G) -4.51 9.16 12.01 17.34 10.99 9.57 SBI Balanced Advantage Fund Reg (G) -1.86 8.57 12.93 – – – Kotak Balanced Advantage Fund Reg (G) -4.21 9.8 11 18 – – Axis Balanced Advantage Fund Reg (G) -3.4 13.12 12.98 15.56 10.24 – Baroda BNP Paribas Balanced Advantage Fund -5.2 8.88 12.29 19.76 – – 1 year trailing 1st quartile : 10.5- 14% – Aditya Birla SL Balanced Advantage Fund (G), Axis Balanced Advantage Fund Reg (G) 2rd quartile : 7.0-10.5%- HDFC Balanced Advantage Fund (G), ICICI Pru Balanced Advantage Fund Reg (G), Edelweiss Balanced Advantage Fund (G), Nippon India Balanced Advantage Fund (G), SBI Balanced Advantage Fund Reg (G), Kotak Balanced Advantage Fund Reg (G), Baroda BNP Paribas Balanced Advantage Fund 3rth quartile : 3.5- 7.0% – No fund 4th quartile : >0-3.5% – No Fund 3 years trailing return 1st quartile : 17.25 – 21 : HDFC Balanced Advantage Fund (G) 2rd quartile : 13.5- 17.25 : No Fund 3rth quartile : 9.75- 13.5 : ICICI Pru Balanced Advantage Fund Reg (G), Aditya Birla SL Balanced Advantage Fund (G), Edelweiss Balanced Advantage Fund (G), Nippon India Balanced Advantage Fund (G), SBI Balanced Advantage Fund Reg (G), Kotak Balanced Advantage Fund Reg (G), Axis Balanced Advantage Fund
While we talk a lot about health insurance in personal finance and how it can protect the wealth creation of the family . It’s important to have accurate information about health insurance to make informed decisions and important to burst the most common myths associated with health insurance. Myth: With sufficient savings, health insurance is redundant. Fact: Some argue that personal savings make health insurance unnecessary. However, even large savings might prove insufficient to cover substantial medical costs, such as major surgeries or long-term hospital care. These costs may run into lakhs and with time spent in hospitalization of your near ones, you might face financial crunch. Myth: Health insurance is only for older people or I am young i do not need health cover Fact: Medical emergencies can happen to anyone at any age. Purchasing health insurance early can provide financial protection against unexpected medical bills. Younger individuals may also benefit from lower premiums and shorter waiting periods. Myth : You get coverage as soon as you buy the plan: Fact: Medical insurance plans often have waiting periods before certain illnesses are covered. Therefore, carefully read the policy wording when buying a plan to understand the claim eligibility timeline. A typical initial cooling period is 30 days, and longer waiting periods may apply to pre-existing and specified diseases. ( We will let you know what waiting periods are applicable to book your free consultation.) Myth: Employer-provided health insurance is enough. Fact: Employer-sponsored group health insurance often has limited coverage, less flexibility, and may not include add-ons. It also ceases when you leave the company. An individual health insurance plan can offer broader coverage tailored to your specific needs. Myth: The cheapest plan is the best option Fact: Beware of the biggest medical insurance myth: that price equals coverage. You can’t simply choose a plan based on how cheap it is; you must understand its features. Cheap plan may not cover even the basic features required. Health needs are personal, so your insurance should match your specific requirements. Aim for an affordable plan, but don’t equate the lowest price with the best value. Myth: Insurance companies cover all expenses in the event of hospitalisation: Fact: Don’t assume your health insurance will fully cover all hospital costs. Policies often have exclusions, co-payments, and waiting periods for pre-existing conditions. Moreover, insurers may only pay partially due to sub-limits. This can include caps on room rent (e.g., a percentage of the sum insured) and also apply to other expenses, such as non-admissible medicine purchases. Policyholders might also need to pay for incidental expenses. To avoid surprises, carefully review all policy details, including exclusions and all types of sub-limits. ( Do not worry we have done it for you , book you free consultation). Myth: Health insurance only covers hospitalization costs or Hospitalization is a must Fact: Unlike traditional plans, modern health insurance policies provide broad coverage encompassing more than just hospitalization. This includes pre- and post-hospitalization expenses, daycare treatments, diagnostic tests, and even alternative medicine options like Ayurveda and homeopathy. Notably, many policies now cover procedures like chemotherapy, radiotherapy, lithotripsy, dialysis, and eye surgery – often referred to as daycare procedures because they don’t necessitate a 24-hour hospital stay for claiming benefits. Myth : People who smoke and drink are not eligible for health insurance: Fact: The widespread belief that smokers and alcohol consumers are ineligible for health insurance is false. Insurance companies do provide coverage to these individuals. However, due to the increased health risks associated with these habits, they usually face higher premium costs and must undergo thorough medical check-ups before a policy is issued. Myth : Failing to renew health insurance on time will mean the loss of all benefits Fact : Health insurance policies usually offer a 15-30 day grace period for renewal without penalty, ensuring continuous benefits like pre-existing condition coverage and no new waiting periods. However, any medical treatment during the gap between expiration and renewal will not be covered. Myth: All health insurance policies are the same. Fact: Each health insurance policy differs in its inclusions, exclusions, coverage scope, and premium. It’s crucial to compare plans and choose one that aligns with your individual healthcare needs and budget. Myth: Pre-existing conditions are never covered. Fact: While there may be a waiting period (usually 1 to 4 years), most health insurance policies cover pre-existing conditions after this period. It’s essential to disclose any pre-existing conditions to your insurer during policy purchase to avoid claim rejections later. Myth : Network hospitals can only be found in big cities: Fact: Health insurance hospital networks are not just in major cities. Most providers have extensive networks reaching smaller cities and towns nationwide, offering cashless treatment options. Reimbursement is also typically available for covered services at non-network hospitals. Myth : Hiding pre-existing illnesses can help get insurance: Fact : Hiding pre-existing illnesses from insurance providers is not advisable. Insurance companies require their disclosure during policy purchase. If an undisclosed condition is found later during a claim, coverage may be denied. Myth: Filing a health insurance claim is a hassle. Fact: With increasing digitization, many insurers offer online claim submission processes. Additionally, cashless treatment at network hospitals eliminates the need for upfront payments and claim filing for those expenses. Myth: Maternity coverage is automatically included. Fact: Standard health insurance policies usually do not include maternity expenses. However, some plans offer maternity coverage as an add-on or as part of a family floater plan, often with a waiting period. Myth :Once You Have Insurance, You’re All Set Fact : It’s wrong to think of health insurance as a one-time purchase. Because health needs change over time, policyholders should periodically review their coverage to ensure it remains suitable. This might involve increasing the insured sum, adding riders, or changing policies to better fit their health goals, ensuring ongoing and sufficient protection. Myth : Policy documents can be discarded after the expiry of the policy Fact: Keep your expired health insurance documents safe. Third-Party