The main difference between general insurance and life insurance lies in the types of risks they cover and the purpose they serve. Here’s a breakdown of the distinctions: General Insurance Life Insurance In summary, general insurance covers various non-life risks and provides compensation for losses or damages, while life insurance focuses on protecting against the […]
If you want to reduce your tax liability while achieving your financial goals, there are various investment options available to help you. Some of the most popular investment options for enhancing tax savings include: Employee Provident Fund (EPF) EPF is a retirement scheme that allows employees to contribute a part of their salary towards the […]
Cancer insurance is a type of health insurance policy that provides coverage specifically for cancer-related expenses. It is designed to provide financial support in case an individual is diagnosed with cancer and to help them cope with the high cost of cancer treatment. In India, cancer insurance policies provide coverage for various aspects of cancer […]
Disability insurance, also known as disability income insurance or disability benefits insurance, is a type of insurance that provides financial support to individuals who are unable to work due to a disability or illness. In India, disability insurance policies provide coverage for different types of disabilities, including total permanent disability and partial permanent disability. Key […]
The coverage provided by any cyber insurance in India may vary from one provider to another. While the policy terms and conditions may seem confusing, it is always recommended to carefully read the policy documents and understand the terms and conditions of the policy before purchasing it. Additionally, it is important to compare the features […]
Cyber insurance is a type of insurance that provides protection against losses or damages caused by cyber-attacks or data breaches. It is designed to help businesses and individuals mitigate the financial impact of cyber incidents, which can include data theft, ransomware attacks, business interruption, and liability claims. In India, cyber insurance policies typically cover the […]
To avoid tax on savings account interest in India, there are a few options available. One is to utilize the Section 80TTA deduction, which allows individuals to claim up to Rs. 10,000 as a deduction on interest earned from savings accounts. If the interest earned on the account is less than or equal to Rs. […]
Withdrawal of the pension contribution in EPF (Employee Provident Fund) is a complex process and is subject to certain eligibility criteria. As per the EPF scheme rules, an employee can withdraw the pension contribution only under certain circumstances, such as resignation, retirement, or death. Steps To Withdraw EPF Pension Here is a step-by-step process to […]
The Public Provident Fund (PPF) interest rate is the rate at which the government pays interest on the funds deposited in a PPF account. The interest rate on PPF is fixed by the government on a quarterly basis and is announced by the Ministry of Finance. As of April 2023, the PPF interest rate is […]
It’s common for insurance premiums to change during the policy tenure. Insurers regularly review and adjust premiums based on various factors, including inflation, changes in risk factors, and the policyholder’s age. For instance, a policyholder who has aged may be more prone to certain health risks, which could cause the insurer to increase their premiums. […]