Author: Naresh Saini

Many banks in India now offer free life insurance cover with select debit cards, but not everyone knows about this valuable benefit. If your debit card includes insurance, it could provide your family with financial security in case of your untimely death. But to make the most of it, you need to understand the claim process and terms of coverage. Here’s everything you should know. How to Check if Your Debit Card Offers Life Insurance Not all debit cards come with insurance coverage. To find out if your card is eligible, you can: Once confirmed, you should inform your family…

If you regularly use UPI for daily transactions, like buying groceries or paying for milk, you may want to consider switching to a UPI Wallet. Experts say that using a UPI Wallet for smaller, everyday payments is not only safer but also more convenient. Let’s take a look at why this method can be a better option for your daily transactions. UPI vs. UPI Wallet: What’s the Difference? While both UPI and UPI Wallet are used for payments, they work in different ways. UPI (Unified Payments Interface) is a system that directly connects to your bank account, allowing you to…

The Government of India continuously launches initiatives to improve the lives of its citizens. One such program aimed at enhancing the healthcare system is the Ayushman Bharat Health Account (ABHA) card. With this card, people can access and store their health records digitally, making it easier to manage medical treatments and information. If you haven’t received your ABHA card yet, don’t worry—you can apply for it easily from home! Here’s a step-by-step guide to help you. What is the ABHA Card? The ABHA card is part of the government’s push toward digitizing healthcare services. It allows citizens to store their…

Good news is on the way for those who pay health and term life insurance premiums, as the government is considering removing GST on health insurance policies with coverage up to Rs 5 lakh. This move is expected to ease the financial burden on policyholders, especially senior citizens and those opting for affordable health insurance plans. The decision was discussed in a Group of Ministers (GoM) meeting held recently, and it has gained considerable support from many state ministers. GST Exemption for Premiums Up to Rs 5 Lakh Currently, health and term life insurance premiums are subject to 18% GST.…

The National Pension System (NPS) is a popular government-backed savings scheme designed for retirement. It helps individuals accumulate a substantial fund over the years and ensures a steady pension after retirement. While the benefits of NPS are typically available after reaching the age of 60, many people are unaware that they can withdraw money before this age under specific conditions. If you’re an NPS subscriber and worried about needing access to funds before 60, the good news is that withdrawals are possible. Here’s a simplified breakdown of the rules and conditions for withdrawing from NPS before retirement. 1. Partial Withdrawal…

Pensioners in India, especially retired government employees, must submit a Life Certificate every year to continue receiving their pensions. For those aged 80 and above, a special submission window opens from October 1st, allowing them extra time to submit their Digital Life Certificate (DLC), which is valid until November 30th of the next year. Failure to submit this certificate on time will result in a halt of pension payments starting December. The introduction of the Jeevan Pramaan system has made the process of submitting life certificates much easier. It allows pensioners to generate their certificate digitally from home using biometric…

Sukanya Samriddhi Yojana (SSY) is one of the most attractive small savings schemes in India, offering a great way for parents to build a substantial fund for their daughter’s future. With the current interest rate at 8.2% per annum, the scheme promises nearly three times the return on your total investment by the time the account matures. Here’s a breakdown of how you can accumulate Rs. 50 lakh by investing in SSY and the steps you need to take. What is Sukanya Samriddhi Yojana? SSY is a savings scheme offered by the Indian government to support the financial future of…

Retirement planning is often seen as complicated, but with the right approach, it can be simplified. One popular strategy used by financial experts is the 80% rule. This rule can help individuals determine how much they should save for a comfortable retirement. But what exactly is the 80% rule, and how can it be applied to your financial planning? Let’s break it down into easy terms. What is the 80% Rule? The 80% rule suggests that you will need around 80% of your current income to maintain your standard of living post-retirement. The logic behind this is simple—after retirement, your…

Recent changes in health insurance policies have made it easier for policyholders to get cashless treatment, even at non-network hospitals. Earlier, cashless treatment was only available in-network hospitals, but with these updates, you can now access treatment at any hospital without the need for advance payment. Here’s a simple guide on how this new benefit works and what you need to know to make the most of it. Check If Your Policy Supports the New Rules Before assuming that you can avail of cashless treatment anywhere, it’s important to check whether your health insurance policy has been updated with these…

The government is moving closer to providing much-needed relief on health and term insurance premiums, as the Group of Ministers (GoM) has proposed to exempt GST on certain insurance premiums. This proposal, if approved, will particularly benefit senior citizens and policyholders with coverage up to Rs 5 lakh. The final decision will be taken in the next GST Council meeting scheduled for next month. Key Proposal: No GST on Health Insurance Premiums In a meeting held on Saturday, the GoM recommended that health insurance premiums up to Rs 5 lakh should be exempt from GST. Currently, policyholders pay 18% GST…