Term insurance is the most fundamental form of financial protection for your loved ones. It aims to provide financial stability to a family when its primary breadwinner, i.e you is no longer there to provide for daily needs. A lot of people have started their financial journey late in life but forget about this fundamental building block. But a question that often confuses people is: What is the right age to buy a term plan? The short answer is: As soon as you start earning or have financial dependents or outstanding debt, and ideally, AS EARLY AS POSSIBLE. 🔑 Age and Premiums: The Direct Connection The single most compelling reason to buy term insurance early is the cost. Your age is the biggest factor determining your premium. Lets get this straight your premium are based on two things Your age Your current health condition So, younger individuals are statistically considered lower risk. Lower Premiums: When you purchase a policy in your 20s or early 30s, you lock in a significantly lower premium that remains fixed for the entire policy term (e.g., 30 or 40 years). The difference can be substantial. For the same coverage, a person buying a plan at age 40 might pay 2-3 times more than someone who bought it at age 25. Better Health = Easier Approval: When you are young, you are generally in better health. This often means easier policy approval and avoids the higher premiums (or even rejection) that can come with pre-existing medical conditions like diabetes or hypertension, which are more common as you age. How Term plan health in over all protection at different stages of life of a human being Age Group Typical Financial Situation Premium Cost Key Advantage 20s Starting career, student/car loans, new dependents (spouse/parents) Lowest Lock in low rates for maximum term 30s Marriage, children, home loans, increasing responsibilities Reasonable Still affordable, perfect time for essential coverage 40s Child’s education goals, significant mortgage, peak earning Higher Premiums noticeably increase, but still vital coverage 50s+ Nearing retirement, fewer years of earning, potential health issues Highest Options may be limited, focus on covering remaining liabilities 🎯 When Does the Need Arise? While buying early locks at the best rates, the need for term insurance is fundamentally tied to your financial responsibilities. You need a term plan when: You Have Dependents: This includes a spouse, young children, or even aging parents who rely on your income for their living expenses. Your policy should cover their needs for a set period in your absence. You Have Loans or Liabilities: If you have an outstanding home loan (mortgage), education loan, or other significant debts, the term plan payout ensures your family is not burdened with repayment. For many people, this point of need aligns with their late 20s or early 30s, when they take on a mortgage, start a family, or become the primary breadwinner. ✅ Benefits of Starting in Your 20s Even if your responsibilities are small, buying in your 20s offers several long-term benefits: Longer Coverage Term: You can secure a policy that covers you until retirement (e.g., until age 60 or 65), locking in protection for your entire earning life. Greater Affordability: The minimal premium outlay won’t significantly strain your budget, allowing you to allocate more funds to other investments like retirement or a down payment. Financial Discipline: Committing to regular premium payments early on helps instill good financial habits. ⚠️ Is It Ever Too Late? If you missed the window of your 20s or 30s, don’t despair – as it is never too late to consider term insurance as long as you have active financial responsibilities. Even if you are in your 40s or 50s, a term plan can be crucial to cover remaining liabilities like your children’s higher education or an outstanding home loan. While the premiums will be higher, the peace of mind and protection for your family are invaluable. 💡 The Takeaway The ideal age to buy a term insurance plan is the moment your income supports another person’s financial life, but the most cost-effective time is in your 20s. If you’re young and healthy, take advantage of the low premium rates. If you’re older, act quickly—every year you delay means a higher premium and potentially more stringent medical checks. Secure your family’s future today. Do not delay Learn about Term Plan to today . Click to book your 15 minutes call now
Introduction TATA AIG Medicare select is one the leading comprehensive health insurance plans being offered by TATA AIG. This offers basic features like IPD, Day care coverage , Domiciliary treatment, no disease based capping , organ donor cover. But it also allows you to select the various features as add-on The plan can be customised to design as per your needs and use. It also provides infinite cover advantage along with advance cover possibility. With add ons like women Suraksha, OPD, cancer benefits it offers various features missing in a lot of other insurance plans. Interested to know more about this plan you can BOOK 1-on-1 consultation today How is TATA AIG as health insurance company Net Incurred Claims to Net Earned Premium 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 Q1 2025-26 TATA AIG 71% 78% 77% 69% 69% 75% 71% 75% 70% TATA AIG has good Net incurred claims to Net Earned Premium TATA AIG 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 Q1 2025-26 Total no.of Policy Complaints (Current year) per 10,000 policies Current year 0.81 0.76 0.61 1.18 1.14 1.01 0.63 0.46 0.75 Total no.of Claim Complaints (Current year) per 10,000 Claims registered (Current year) 7.07 5.75 6.15 8.15 10.22 10.08 12.11 9.75 11.55 Network of Hospitals 12,000 Verdict: Company seems to have good ratios a low double digit Total claim complaints per 10,000 claims registered is very good . Net incurred claims to net premium earned of more than 70% shows the company is stable in terms of claims. Also Network hospitals are also great. All in all a good insurance company. BASE PLAN Max cover 5 / 7.5 / 10 / 15 / 20 / 25 / 50 / 75 / 100 / 200 / 300 L Person to be Covered Family Floater: Self, spouse and up to 3 dependent children, up to 2 parents/parents-in-law. Individual/Multi-individual: Self, Spouse/Partners, Upto 3 Dependent Children, Parents & parents-in-law, Grandparents, Grandchildren, Siblings (Sister/Brother), Uncle, Aunt, Nephew, Niece, Employee, Domestic Help and Legal Guardian. Age No minimum / maximum entry age Waiting Period 30 days Pre existing diseases 36 months /Advance Cover ( Add on) PED after 30 days a. Diabetes Mellitus (Type 2), b. Hypertension, c. Hyperlipidaemia & d. Asthma Specified diseases 24 months Maternity waiting period 24 months /Add on Waiting period reduced to 1 year Mental illness cover waiting period Add on ( Mental Well being Rider) OPD waiting period Add On ( pocket Saver 2.0) 30 days Dental OPD waiting period Add On ( pocket Saver 2.0) 30 days Critical illness waiting period NA Co -payment NA Deductibles Aggregate deductible ( Add on ) 10/25/50/100 K Room Rent caping Single Private AC room Daily Hospital Cash Twin sharing – Rs 1200 per day ( Over and above SI) Multi sharing- Rs 1,500 per day ( Over and above SI) ICU cover upto SI Disease Based caping No IPD Upto SI Pre Hospitalization 90 Days , Upto SI Post Hospitalization 90 Days , Upto SI Day Care procedure 541 Procedure have been listed Advance technology method Covered, upto SI Domiciliary treatment Healthcare Covered, upto SI Alternate treatment ( AYUSH) Covered, upto SI Organ Donor expenses Covered, upto SI Road Ambulance Covered, upto SI Restore benefit Unlimited (Restore Infinity plus) Renewal benefits 50% increase in case of no claim max by 100% of SI OR 1% Discount in Renewal Premium Add on Super Charge Rider 100% upto Max 500% ADD On Features Unlimited Coverage Infinite Advantage ( Add on) – for any one claim during Lifetime – In-Patient Treatment/Daycare Procedures Early Access Single premium multi-year policies, the Sum Insured of the Policy Period shall be available anytime during the Policy Period, Home care treatment Upto SI/ The pandemic care will be covered upto 25% of the sum insured. Air Ambulance Upto 5 lacs for non network; Upto SI for network provider ( over and Above SI) Consumables Non- Medical Expenses ( Specified Consumables ) Annexure 1 List 1 Maternity cover 10% of SI , max Upto Rs 1Lakh) Delivery Complication of new Born Baby First Year vaccination Waiting Period 24 months Add on Waiting period reduced to 1 year Additional Sum Insured For Accidental Hospitalization Extra SI Upto For each Insured Person Annual health check up Domestic Second Opinion International Second Opinion Accidental Death benefit Rider. 100% SI Max upto 50 lacs (Over and above SI ) Cancer Benefit As per chosen SI max upto 1 cr (Over and above SI ) Waiting period of 30 days Survival Period of 30 days Women Suraksha Gynaecologist Consultation PMS consulting Menarche Counselling Infertility Counselling Dermatologist Consultation Polycystic ovarian cover Cancer screening : – Breast Cancer screening – mammography – Ovarian cancer screening – ultra Sound And CA 125 – Cervical Cancer screening – Pap Smear Health Condition Management Program Health Condition Management Program Maintaining good health and improving it through various health condition management programs including but not limited to nutrition management, weight management, chronic condition management, cancer care assistance program, stress management Mental illness •Mental Health Screening •Psychological Therapy and Procedures •Diet Consultation Rider •Vocational Rehabilitation •Stress Management Rider •Addiction Cessation Program OPD Dental Add On ( pocket Saver 2.0)Out patient Treatment Dental 5L- 7.5K 7.5L-10K 10L – 15K 15L – 20K 20L-32K 25L -50K 50L- 70K 75L-90K > 1 Cr – Rs 1 L – RCT ( Single or multiple sittings ) – Tooth extraction – Restoration / Filling – All form od dental Xray – Crown -Pulpectomy – Therapeutic pulpotomy OPD treatment Outpatient Treatment and Consultation( pocket Saver 2.0 5L- 5K 7.5L-6K 10L – 8K 15L – 15K 20L-22K 25L -25K 50L- 50K 75L-70K > 1 Cr – Rs 1L Customary Charges for in-person consultations and diagnostic tests OPD Vision Care Pocket Saver 2.0 5L- 1.5K 7.5L-2.5K 10L – 5K 15L – 12K 20L-12K 25L -20K 50L- 20K 75L-25K > 1 Cr – Rs 30K consultations with Ophthalmologist on an Outpatient basis and Reasonable and Customary Charges for corrective spectacle lenses as prescribed by the
A critical illness plan is a type of insurance that provides a lump-sum cash payout if you’re diagnosed with a life-threatening condition listed in the policy. It’s designed to supplement your existing health insurance, giving you a financial safety net to cover expenses that regular health insurance might not. What is a Critical Illness Plan and How Does It Work? Critical Illness plan would make a Lumpsum payout on diagnosis of the specified critical illness.( So make sure to read through all Critical illness are covered in your policy). Unlike standard health insurance, which reimburses your medical bills for hospital stays and treatments, a critical illness plan pays you a predetermined lump sum upon the diagnosis of a covered illness. This payment is made regardless of your actual medical expenses( So you do not have to produce any medical bills to claim). You can use this money however you see fit: to pay for non-medical costs, cover lost income during your recovery, or even pay off debts. ( So the end use is not specified here). Imagine you’re diagnosed with cancer. Your health insurance will take care of your hospital and treatment bills, but what about the time you’ll have to take off work? Or the travel costs for specialized treatment? This is where a critical illness plan comes in, providing a financial cushion that helps you focus on getting better without worrying about day-to-day finances. The question is how is it helpful ? Having health insurance and a life cover is a great start, but a critical illness plan offers a unique and crucial layer of financial protection. It’s not a myth, it’s a valuable tool that provides support in three major ways. Lumpsum Payments Unlike health insurance, which reimburses specific medical expenses, a critical illness policy provides a lump-sum payment upon diagnosis. You have complete freedom to use this money for any purpose, whether it’s paying for large hospital bills, clearing outstanding debts, or covering EMIs and household bills. This flexibility ensures you can handle various financial needs without added stress. Income Replacement Critical illnesses often lead to prolonged treatments or a debilitated state, making it impossible for the primary earner to work. During these stressful times, a CI plan can serve as an income replacement, providing a financial cushion for your family. This helps compensate for lost income and ensures financial stability when you need to focus on recovery. Cover both medical and non- medical expenditures Because the end use of the claim payout is not defined, it can be used for both medical and non-medical expenditures that arise during or after the illness. This includes expenses that standard health insurance won’t cover, such as specialized care, travel for treatment, or even home modifications. Who should buy it ? Sole Breadwinners If your family’s financial security depends on your income, a critical illness plan is a must-have. It acts as a safety net, protecting your loved ones from financial hardship if you are unable to work. Individuals with a Family History of CI If critical illnesses run in your family, you may be more susceptible. It is highly advisable to secure a critical illness cover, as it becomes a necessary part of your health and financial planning. People with a Sedentary Lifestyle Those with a sedentary lifestyle face a higher risk of developing critical illnesses. A critical illness plan provides essential protection against the financial fallout of such health issues. What Illnesses Are Typically Covered? While the exact list of covered illnesses varies by insurer, most critical illness plans cover a range of serious, life-altering conditions. These often include: Cancer of specified severity Kidney failure requiring regular dialysis Multiple Sclerosis with persisting symptoms Benign Brain Tumour Motor Neuron Disease with Permanent Symptoms End-Stage Lung Failure End-Stage Liver Failure Primary (Idiopathic) Pulmonary Hypertension Parkinson’s Disease Before the Age Of 50 Years Alzheimer’s Disease Before the Age Of 50 Years Major Organ (Heart/ Lung/ Liver/ Kidney /Pancreas) or Human Bone Marrow Transplant Open heart replacement or repair of heart valves Open chest CABG Surgery Of Aorta Stroke resulting in permanent symptoms Permanent Paralysis of Limbs Myocardial Infarction (First Heart Attack of specified severity) Third Degree Burns Loss of Speech Blindness Loss of Limbs Deafness Coma of Specified Severity Major Head Trauma Muscular Dystrophy Note to reader : Always check the policy document to see the full list of covered conditions, as well as the specific definitions and severity criteria required to make a claim. Basics of the plan? Let’s understand the basic conditions of the plan , to understand the basic structure of the plans. Again note to readers these a basic conditions can vary from plan to plan Age – 5 years to max 65 Years Sum Insured – 1 lakh to 1 cr or even more is available under some plans Renewability : Life Time Waiting Periods : Applicable ( 0/30/90/180 Days) Survival Period : applicable ( 0/15/ 30 days) ( This is an important condition, a claim can be made only after the insured person survives this survival period ) Exclusion : applicable ( read policy document for better understanding) Tax Benefits Premium Paid : Rs 25,000/- per year ( this is the maximum limit ) (under section 80 D) Claim : Tax free claim proceeds Critical Illness vs. Health Insurance: What’s the Difference? Feature Critical Illness Insurance Health Insurance Policy Type Benefit-based Indemnity-based Purpose Backup shield for major health crises Primary shield for medical expenses Payout One-time lump sum upon diagnosis Reimbursement of hospital and medical expenses Tied to Bills? No, the payout is not tied to medical bills Yes, payout is based on actual medical expenses Usage of Funds You can use the lump sum as you need (e.g., for lost income, debt, etc.) Funds are used to pay for medical bills via cashless or reimbursement Claim Frequency Usually a single claim after which the policy ends You can make multiple claims throughout the policy period Role Provides a financial boost for non-medical
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
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
In today’s worlds where medical expenses are soaring, having a robust health insurance policy isn’t just a luxury; it’s a necessity. It’s a safety net that protects you and your family from unforeseen financial burdens during medical emergencies. Beyond the immediate relief of covering hospital bills, health insurance offers a multitude of benefits that contribute to overall well-being and peace of mind. Let’s delve into some of the top advantages of investing in a comprehensive health insurance plan. Financial Security During Medical Emergencies: This is arguably the most significant benefit. Unexpected illnesses or accidents can lead to hefty medical bills, including hospitalization, surgeries, and medication. Without insurance, these expenses can drain your savings and even push you into debt. Health insurance acts as a shield, covering these costs and allowing you to focus on recovery rather than financial worries. As shared by Mr Nithin Kamath “one hospitalization away from bankruptcy.( https://www.timesnownews.com/business-economy/companies/most-indians-risk-bankruptcy-without-adequate-health-insurance-says-billionaire-nithin-kamath-article-112964562) Coverage for Hospitalization Expenses: Health insurance typically covers a wide range of hospitalization expenses, including room rent, doctor’s fees, nursing charges, and operation theater costs. This ensures that you receive the necessary medical care without worrying about the financial implications. Protection Against Rising Healthcare Costs: Healthcare costs are consistently on the rise. A health insurance policy helps you stay ahead of this inflation, ensuring that you can access quality medical treatment without compromising your financial stability. With medical cost increasing, In india it is pegged somewhere between 10-15% ( https://medicalbuyer.co.in/medical-costs-in-india-likely-to-surge-by-13-2-in-2025/#:~:text=Medical%20costs%20in%20India%20are,detection%20and%20personalised%20treatment%20planning and https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/25-for-2025-what-will-it-take-to-ease-the-pain-of-medical-inflation-and-rising-premium-payments/articleshow/116816210.cms?from=mdr ) Coverage for Pre and Post-Hospitalization Expenses: Many plans cover pre-hospitalization expenses, such as diagnostic tests and consultations, as well as post-hospitalization expenses, including follow-up consultations and medication. This comprehensive coverage ensures a smooth recovery process. Access to Quality Healthcare: With a good health insurance policy, you can access a network of reputable hospitals and healthcare providers. This ensures that you receive quality medical treatment from experienced professionals. A good healthcare policy has listed a network of hospitals where you can get best treatments done without the worry of expenditure. Cashless Treatment: Many insurance providers offer cashless treatment at network hospitals. This means you don’t have to pay out of pocket; the insurance company directly settles the bill with the hospital, simplifying the process and reducing stress during a medical crisis. Coverage for Critical Illnesses: Some health insurance policies offer specific coverage for critical illnesses like cancer, heart disease, and kidney failure. These plans provide a lump sum amount upon diagnosis, which can be used for treatment and other related expenses. Organ transplant expenses : Health insurance can significantly reduce the overwhelming financial burden of an organ transplant.It helps cover the high costs of surgery, hospital stays, and lifelong medication. Having insurance provides access to specialized transplant centers and care.It offers peace of mind during a critical and stressful medical situation. Preventive Health Check-ups: Many insurers offer free annual or bi-annual health check-ups. These check-ups can help detect potential health issues early, allowing for timely intervention and preventing serious complications. Tax Benefits: In India, premiums paid towards health insurance are eligible for tax deductions under Section 80D of the Income Tax Act. This can help you reduce your taxable income and save money. Peace of Mind: Perhaps the most invaluable benefit is the peace of mind that comes with knowing you and your family are protected. Knowing that you have a safety net in place allows you to live a more relaxed and stress-free life. Choosing the Right Policy: Selecting the right health insurance policy is crucial. Consider factors such as coverage, premium, network hospitals, claim settlement ratio, and additional benefits. It’s essential to compare different plans and choose one that best suits your needs and budget. We have enlisted the best features for you to consider before buying a health insurance plan in our blog (https://wealthinn.in/your-ultimate-guide-to-choosing-the-best-health-insurance-plans-in-india/) In Conclusion: Investing in a health insurance policy is a wise decision that safeguards your financial well-being and ensures access to quality healthcare. It’s a proactive step towards protecting your health and securing your future. Don’t wait for a medical emergency to realize the importance of health insurance. Take the step today and invest in your peace of mind. Reach us to help you select the best possible plan for you . Click the link https://wealthinn.in/health-insurance/ for a free consultation.
Financial planning in simple terms is a regular approach to meet one’s life financial goals. Financial planning is a process which provides you a systematic and planned way to reach these goals while avoiding any surprises . A financial plan acts as a guide throughout your life’s journey. In today’s fast-paced world, it’s easy to feel overwhelmed by financial pressures. Whether you’re saving for a down payment, planning for retirement, or simply trying to make ends meet, a solid financial plan can provide the clarity and confidence you need to achieve your goals. A Financial planner is the one who is a qualified investment professional who helps individuals meet their long-term financial objectives or goals. These professionals do their work by consulting with clients to analyse their goals, risk tolerance , and life stages , and identify suitable classes of investments for them. Why is Financial Planning Important? Increase saving : Though saving can be done without a financial plan , when you plan you get a good deal of insights on how you are saving and what expenses can you cut down. Achieve your goals: A financial plan provides a clear path to achieving your financial aspirations. Reduce stress: Knowing where your money is going can alleviate financial anxiety. Build wealth: Effective financial planning can help you grow your wealth over time. Prepare for the unexpected: A solid plan can help you weather financial storms. A solid financial planning is a very important instrument for personal finance, so lets look at what are the key steps. Key Steps to Financial Planning: Realistic Goals: Start by identifying your short-term, medium-term, and long-term financial goals and assigning them priorities. Make sure your goals are specific, measurable, achievable, relevant, and time-bound (SMART). Eg. How much would you need for child education and when would that be required. Create a Budget: Track your income and expenses. Identify areas where you can cut back. Make an elaborate sheet of all your income sources and expenses. You can use spreadsheet to look at them ( we have one created which we been using since last 10 years ) Manage Debt: Prioritize paying off high-interest debt. Consider debt consolidation options. Invest Wisely: Diversify your investments to reduce risk. Consider your risk tolerance and time horizon. Seek professional advice if needed. Protect Your Assets: Ensure you have adequate health, life, and property insurance. Create an emergency fund to cover unexpected expenses. Make Asset allocation The all the above culminates into your assets allocation What all assets and how much amount you can hold Review and Adjust: Regularly review your financial plan and make adjustments as needed As you grow your income, expenditure and lifestyle changes, you need to keep changing the plan along the way It’s not just limited to individuals, a lot of external factors also change. Seeking Professional Advice: While you can create a financial plan on your own, consider seeking advice from a qualified financial advisor. They can provide personalized guidance and help you make informed decisions. We will discuss about some duties and responsibilities of a financial planner Provide financial planning and investment advisory services Research and present investment strategies Develop and execute goals planning Implement risk management and tax planning strategies Help with estate planning Help to develop financial plan and execute the same with client Keep reviewing and make changes as and when required . In Conclusion: Think of financial planning as mapping out a journey to your desired financial future. This article delved into why creating such a plan is crucial, and provided practical steps. However, a plan remains just an idea until it’s put into action. The sooner you begin implementing your financial strategy, the simpler the process becomes, and your odds of reaching your objectives significantly improve. So, what’s holding you back? We trust you found this information valuable. If so, please consider sharing it with your network, so more people can be benefited . Should any aspect of our explanation require further clarification, please don’t hesitate to ask in the comments below or reach us . We’ll be happy to provide answers.
A medical emergency requiring hospitalisation brings significant anxiety. During such times, the security of a health insurance plan is paramount. We invest in these plans expecting our medical bills to be covered, allowing us to focus on recovery. However, the distress of a rejected claim, forcing out-of-pocket payments, can be devastating. According to the Insurance Regulatory and Development Authority of India’s (Irdai’s) annual report for 2023-24, health and general insurers paid 82% of claims by volume and 71.3% by value (Rs 1.17 crore). However, of the remaining 28.7% by value, nearly 13% were rejected, and over 9% were repudiated. Understanding the difference between rejection and repudiation is essential. “Rejection” typically occurs before a detailed review, often due to incomplete information and is reversible. “Repudiation” results from a thorough review, where the insurer determines the claim is not covered under the policy’s terms. Incorrect or Incomplete Information: Errors in claim forms, such as incorrect policy numbers, misspelled names, or inaccurate medical details, are a primary cause of claim denials. These errors lead to significant rework, prolonged communication, and considerable anxiety for policyholders. To minimise these issues, it is strongly recommended that you personally complete all application and claim forms. Relying on agents or other individuals can increase the risk of inaccuracies, as they may lack complete or up-to-date information. Solution: Thoroughly verify all information before submitting a claim, ensuring it aligns precisely with your policy documents and medical records. Furthermore, utilizing cashless claim facilities at network hospitals can significantly reduce the potential for errors and streamline the claim process. Discrepancies in Diagnosis, Treatment, and Pre-Authorization: Inconsistencies between the diagnosis or treatment listed on the claim form and the corresponding medical records, or treatments falling outside the policy’s coverage, can lead insurers to view claims as potentially fraudulent, resulting in denial. Furthermore, many treatments or procedures necessitate prior approval, or pre-authorization, from the Best insurance company Delhi. Proceeding with such treatments without obtaining the required approval will likely result in claim rejection. Solution: To prevent denials due to discrepancies or lack of pre-authorization, it is crucial to seek pre-authorization from your insurer for any non-routine or costly treatments before commencing them. Treatments undertaken without the insurer’s prior approval may not be eligible for reimbursement. Non-Disclosure of Pre-Existing Conditions: Failure to disclose pre-existing medical conditions during policy purchase can lead to claim rejection. While some individuals may conceal this information to avoid higher premiums or policy denial, this practice is strongly discouraged. It’s important to note that, regrettably, some advisors may suggest concealing information to facilitate a sale. However, this is unethical and ultimately detrimental to the policyholder. Solution: Honesty and transparency regarding your medical history are paramount when applying for insurance. It is crucial to declare all pre-existing conditions and relevant family medical history. This ensures accurate policy issuance and prevents future claim denials. Claims During the Waiting Period: Most health insurance policies include waiting periods for specific conditions or treatments. Claims submitted within these periods will be denied. It is essential to understand these waiting periods when purchasing a policy. Typically, there are three main types: Initial 30-Day Waiting Period: This is a standard period at the beginning of the policy. Waiting Period for Specified Illnesses: This period applies to specific conditions listed in the policy. Waiting Period for Pre-Existing Diseases: This period applies to conditions present before the policy’s inception. These waiting periods are detailed in policy brochures and policy wordings. Solution: Thoroughly understand your policy’s waiting periods and plan treatments accordingly. Reputable advisors should clearly explain these periods. At Wealthinn, we prioritize transparency by providing comprehensive information about waiting periods to our customers from the outset. Policy Lapses Due to Non-Payment of Premiums: Failure to pay premiums on time results in policy lapse, suspending coverage and leading to claim rejections. Once a policy expires due to non-renewal, the insurer is not obligated to cover medical expenses. Every policy has a defined validity period, requiring renewal through premium payment before the due date. While a grace period is typically provided, its duration varies between insurers. Exceeding both the due date and the grace period renders the policy null and void. Solution: Maintain continuous coverage by ensuring timely premium payments. Consider setting up automatic payments to avoid missed deadlines. Here’s a refined version of that section, focusing on clarity, professionalism, and a more effective presentation of your video resource: Treatments Not Covered by the Policy (Exclusions): Health insurance policies contain a comprehensive list of exclusions, detailing treatments and procedures that are not covered. Claims for excluded treatments will be denied. Common exclusions often include: Dental treatments Mental health conditions Outpatient department (OPD) expenses Maternity-related claims For a more detailed explanation of common exclusions, please refer to our video : Click here to check the video Solution: Thoroughly review your policy documents to understand the specific list of exclusions. While our video provides a general overview, it is essential to consult your individual policy documents for precise details. Policy documents are the only source of truth for your specific policy coverage. Check here the video. Delay in Claim Intimation or Filing: Insurance companies establish strict deadlines for claim notification. Each policy has a specific timeframe within which the insurer must be informed of a claim. Failure to notify the insurer within this stipulated period can result in claim denial. Delays in claim intimation significantly jeopardize the chances of a successful claim. Solution: Familiarize yourself thoroughly with your insurer’s claim notification deadlines and adhere to them strictly. These deadlines are typically outlined in your policy documents. Utilizing your insurer’s mobile application can provide convenient access to these deadlines and streamline the notification process. Exhaustion of Sum Insured: When medical expenses surpass the policy’s sum insured, the excess amount is not covered. If the sum insured has been fully utilized in previous claims within the same policy year, no further claims can be filed. Similarly, if a single claim exceeds the sum insured, the insurer will only reimburse up to the limit of