Author: Naresh Saini

If your car stays parked most of the time and you don’t cover a lot of distance every year, there’s good news! Insurance companies are now offering Pay-As-You-Drive (PAYD) insurance policies, which allow you to pay a lower premium based on your car’s mileage. This option benefits those who drive fewer kilometers annually, making it ideal for people with low vehicle usage. How PAYD Insurance Works Under PAYD insurance, the premium is linked to the kilometers you plan to drive during the policy period. You can select a preset mileage plan—such as 2,500, 5,000, or 7,000 kilometers—depending on how much…

In a country as vast and diverse as India, financial security for families is a necessity, not a luxury. Over the last few years, the life insurance industry has become an essential pillar in providing this security. Insurance is not just a financial product—it represents the promise of safeguarding the future. With the rise in awareness about financial planning and insurance, life insurance advisors play a critical role in reaching out to millions across the country, ensuring families are protected against uncertainties. According to a 2024 report by Swiss Re, India’s total insurance premiums are projected to grow at an…

The Post Office has long been a trusted place for savings, offering schemes that cater to every type of investor, from young professionals to retirees. One such scheme that ensures a guaranteed monthly income is the Post Office Monthly Income Scheme (POMIS). If you’re looking for a secure way to earn regular income from your savings, starting this Diwali might be a great time to invest in this scheme. Interest Rate and Guaranteed Monthly Income The Post Office Monthly Income Scheme offers an attractive 7.4% annual interest rate, providing a fixed and reliable income every month. This makes it an…

Investing in gold has always been a trusted strategy for Indians, and with the delay in the government’s Sovereign Gold Bond (SGB) scheme, many investors are turning to Gold Exchange Traded Funds (ETFs) as a strong alternative. Gold ETFs are gaining popularity for their flexibility, liquidity, and stable returns. So far in 2024, trading volumes for Gold ETFs on the National Stock Exchange (NSE) have reached a significant Rs 17,795 crore, almost double the previous year’s Rs 9,002 crore. But why are investors increasingly choosing Gold ETFs? Let’s explore the reasons behind this trend. Why Gold ETFs Are Gaining Investor…

Travel insurance is an important safeguard for those planning holidays or trips. Unexpected cancellations can happen for various reasons, and without insurance, travelers might face significant financial losses. Whether you cancel your trip due to personal reasons or the airline cancels your flight, travel insurance can provide relief. However, different situations have different compensation rules, so it’s essential to know what’s covered. Trip Cancellations Due to Personal Emergencies Sometimes life throws unexpected emergencies your way, like a sudden illness or a family emergency that forces you to cancel your trip. If you have travel insurance, such cancellations may be covered,…

The Employee Pension Scheme (EPS) provides financial support to employees in the private sector and their families after retirement or death. For those who work in private jobs, a portion of their salary is regularly deposited into the Employee Provident Fund (EPF), with both the employee and employer contributing to this fund. But what happens to the pension after the employee passes away? Let’s break it down. Employer and Employee Contributions to EPF and Pension Fund For every private sector employee, 12% of their basic salary and dearness allowance (DA) is contributed to the Employee Provident Fund (EPF) every month.…

Investing in mutual funds through Systematic Investment Plans (SIPs) has gained popularity among Indian investors for its simplicity and effectiveness. The regular SIP model involves investing a fixed amount at regular intervals, which helps investors benefit from Rupee Cost Averaging. This ensures that you buy more units when prices are low and fewer when prices are high. However, a newer strategy called Trigger SIP has emerged, offering a more flexible and dynamic approach to mutual fund investments. Let’s dive into what Trigger SIP is, how it works, and whether it is suitable for the average investor. What is Trigger SIP?…

With increasing life expectancy and rising healthcare costs, retirement planning has become more crucial than ever. Life insurance plays a significant role in providing financial security during your golden years. Beyond basic coverage, these policies offer several benefits that can help ensure a stress-free retirement. Let’s explore five key reasons life insurance should be part of your retirement strategy. 1. Regular Income After Retirement Once you retire, your primary income stops, which can lead to financial challenges. Certain life insurance plans, such as endowment policies and ULIPs (Unit Linked Insurance Plans), allow you to choose regular payouts instead of a…

Fixed deposits (FDs) are known for their stability, with returns usually ranging between 7-9%. However, after adjusting for inflation—currently around 4%—the real value of FD returns drops significantly. For risk-averse investors seeking slightly higher returns without exposing themselves to too much risk, conservative hybrid mutual funds are becoming a popular alternative. These funds balance safety and growth by investing mainly in debt instruments, with a small portion allocated to equities, offering a more promising return than traditional FDs. What Makes Conservative Hybrid Funds a Better Alternative? Conservative hybrid funds invest 75-90% of their corpus in debt securities like bonds and…

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…