Buying cardiac insurance, planning wedding: Top personal finance stories

This week we report about the fine print in specialised insurance for heart conditions and how to organise a lavish wedding

If you delay purchasing health insurance and later develop a cardiac issue, your only option may be a specialised cardiac plan. In this week’s lead story, Himali Patel reviews plans that offer coverage to those with pre-existing cardiac conditions.

 

Namrata Kohli’s article explores this year’s top wedding trends and provides essential budgeting tips. Read it for an overview of the key expenses and to learn strategies that can help you create a memorable event while remaining within budget.

 

For investors looking to avoid decisions on market cap allocations, Flexicap funds allow fund managers to make these choices. Check out Morningstar’s review of Kotak Flexicap Fund if this category interests you.

 

If you are seeking slightly higher rates than bank deposits, consider company fixed deposits. This week we feature a table from Paisabazaar.com that offers an overview of interest rates and other key parameters of major issuers.

 

NUMBER OF THE WEEK

 

41% rise in taxpayers earning more than Rs 1 crore

 

The number of individual income tax return filers who reported income above Rs 1 crore rose by 41 per cent, surpassing 238,000 in the first half (April-September) of the ongoing fiscal year, according to data from the Income Tax e-filing portal.

 

The count of crorepati filers topped 19,000 in the April-September period of 2020-21, then dipped to 16,700 in 2021-22 due to the pandemic. However, in 2022-23, it climbed to over 1 lakh, with continued growth ever since.

 

This trend is being driven by robust economic expansion, which is boosting individual incomes. Thriving capital markets have further amplified the gains of individuals, according to media reports. Moreover, cutting-edge technology, especially artificial intelligence, has significantly improved tax administration.