Insurance companies always insist on an advance receipt from the insured. This gives them full and final discharge to coerce an insured into unconditionally accepting whatever is offered to him.

Full and final settlement?

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Though it promises high returns, this elite asset class is only for the ultra rich.

Raise a toast to wine

Stick to long-term investment with bank deposits, that will earn you more when rates fall in the coming months.

Give money time to grow

I have heard that those who drink and/or smoke have to pay a higher premium. I drink once or twice a week (around 180 ml a week) and smoke occasionally.

Life Insurance: Deepak Sood

This will ensure that your kitty does not get exhausted before your lifetime.

Equity bonus for retirement corpus

Though they come at a cost, buying them with the insurance policy can make a lot of sense.

Riders make your claims easier

This is what investors pay the fund house for managing their funds. It includes the cost for managing and operating the fund, besides the administrative and sales expenses. While equity funds can charge an expense ratio up to 2.5 per cent, debt funds can charge up to 2.25 per cent. Say, if you have invested Rs 10,000 in a fund with an expense ratio of 1.5 per cent, you will be paying the fund house Rs 150 annually to manage your investment. A higher expense ratio will mean lower returns as it is deducted every year. The net asset value (NAV) of a fund is calculated after considering its total expenses.

What are the technical terms in a mutual fund factsheet?

My home loan from a public sector bank ended about two months back. However, the bank has not sent me a letter confirming the closure of the account. Further, they have misplaced the property papers held as collateral.

Banking: Uday Sareen

It is a security vis-a-vis returns battle between bank fixed deposits and debt funds.

Debt funds are more tax-efficient

Last Monday, the Securities and Exchange Board of India (Sebi) announced that retail investors being allotted shares at a discount in initial public offerings (IPOs) should be allowed to apply at the discounted price rather than the cut-off price. From June 15, the changes would apply to all public offer documents filed with the Register of Companies.

IPO benefit for retail investors

Free looking period and fund switches can help you pick the best and save more for the long term.

Use benefits to make most of Ulips

My wife and I are planning an international holiday next month.

General Insurance: Gaurav Garg

Floating rate term deposits (FRDs) are a variant of the fixed deposits offered by banks. The interest rates on offer are linked to the bank&rsquo;s base interest rate. This is a relatively new product in the country, with the first one having been launched by State Bank of India in September 2010. As of now, these deposits are only long-term in nature, offered for periods of 1, 3 and 5 years. One can invest a minimum of Rs 1,000 and multiples thereof, till a maximum of Rs 15 lakh.

What are floating rate term deposits?

Avoid investing in interest rate-sensitive sectors which are likely to underperform.

Don't let inflation erode returns

One can send money using a bank&rsquo;s wire transfer service or a foreign currency demand draft.

Your options to remit money abroad

An ideal portfolio should be a mix of savings and protection instruments. Term plan, a protection instrument, is important to help the family sustain the prevailing standard of living, in case the breadwinner passes away.

Life Insurance: V Philip

These are market-linked pension products offered by life insurance companies. These plans are for those looking for long-term retirement plans or investment options. After September 1, 2010, they are supposed to provide a compulsory life or health cover and a minimum guarantee of 4.5 per cent. Earlier, pension plans did not always have an insurance element to it and were primarily an investment vehicle. Being a unit-linked plan, the minimum lock-in is five years. Before this, you cannot surrender the policy. After the September 2010 guidelines, insurers have not launched any such plan as they do not favour the minimum guarantee option. The insurance regulator plans to review norms for this product. It may, however, not compromise on the minimum guarantee.

What are unit-linked pension plans?

In the times of rising interest rates, promising to return part of one&rsquo;s interest amount is a perfect pitch for new home loan borrowers. However, some smart number crunching could see the borrower save much more than what HSBC India&rsquo;s &lsquo;pay-back loan&rsquo; scheme offers.

Use savings to prepay your loan

I am 30 years of age, working in a private company. I have been investing in equities (direct and mutual funds) as well as fixed deposits for the past five years. My current investments are as under: Direct equity (Rs 2 lakh at current market value), tax-saving FDs (Rs 1 lakh), pension plan (Rs 25,000 a year since last year) and equity-diversified MFs (Rs 2.5 lakh). I have Rs 1.5 lakh in my account.

Financial Planning: Gaurav Mashruwala

The concept works on the same lines as the no-claim bonus on your car insurance. Policyholders who haven&rsquo;t made any claim in a year, can use the bonus to their benefit the following year. Companies could either offer an increase in the sum insured or discount on the premium payable, or a combination of both.

In health insurance, what is a cumulative bonus?

However, watch out for a higher upfront amount and a not-so-easy exit.

Use collective power for better home deals 

Personal Finance: Read about the smart strategies for Personal Finance Planning, Investing, Insurance, banking, budgeting, loans Tax Planning, retirement and insurance. Browse Business Standard to learn more on Personal Finance.

Personal Finance: Investing, Planning, Retirement, Loans, & Insurance | Business Standard

Read about the smart strategies for Personal Finance Planning, Investing, Insurance, banking, budgeting, loans Tax Planning, retirement and insurance. Browse Business Standard to learn more on Personal Finance.

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