Health insurance for senior citizens is a hard puzzle to solve. As we age, the probability of hospitalisation and associated expenses increases. So, from a consumer’s perspective, it makes sense to get medical insurance with good coverage. But for insurers, seniors policies are not as lucrative because most policyholders will more likely make a claim. On top of it, unlike life insurance, every health insurance policy is renewable for life. Insurers cannot stop servicing high risk customers once they’ve been given a policy.
We’re starting our insurance review series with Star Health Young Star Insurance Policy. This is a policy designed for younger policyholders who are either single, or just married or in the early stages of their career.
This article delves into the ‘XIRR’ or extended internal rate of return and how it can be the best way to arrive at the returns on your portfolio that is unique to you, because two people can invest in the same fund but have very different returns.
Back on June 15th, the Central Board of Direct Taxes (CBDT) notified the Cost Inflation Index (CII) of the financial year FY 2021-22 as 317, against 301 for the previous year FY2020-21. This 5.32% spike marks a change from the lower revisions in earlier years.
The most popular of such endowment policies is a policy called the “LIC New Jeevan Anand”. It makes a simple, attractive proposition to its policyholders – pay a premium for ‘n’ number of years and get a fixed sum assured PLUS bonus at the end of this period. AND, when the policyholder dies post this period, the family will get the sum assured again. You benefit when you live and your family benefits when, eventually, you die!
Could upping the frequency with which you run your SIPs net you better returns? The primary aspect you look at in SIPs is that it helps invest across different market levels and therefore averages your investment cost down. If that’s the case, it follows that making very frequent investments will help capture more market volatility than just once-in-a-month investing.