Disability Insurance – Key Terms, Coverage & Top Providers
Mini Balakrishnan
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 […]
Top 5 Providers of Cyber Insurance In India
Mini Balakrishnan
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 […]
What Does Cyber Insurance Cover?
Mini Balakrishnan
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 […]
How to Avoid Tax on Savings Account Interest?
Mini Balakrishnan
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. […]
How To Withdraw Pension Contribution In EPF?
Mini Balakrishnan
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 […]
Benefits of Public Provident Fund (PPF) interest rate
Mini Balakrishnan
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 […]
Can the Premium Change During the Policy Tenure?
Mini Balakrishnan
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. […]
Factors That Affect Premiums for a Life Insurance Policy in India
Mini Balakrishnan
Purchasing a life insurance policy is an important financial decision, and there are several factors to consider that can impact the premium you’ll pay. Understanding these factors can help you make an informed decision when choosing a policy. Here are the key factors that affect the premium for a life insurance policy in India: Age […]
How to Claim Motor Insurance in India?
Mini Balakrishnan
Motor vehicle accidents are unfortunately common in India. In fact, according to a report by the Ministry of Road Transport and Highways, there were over 4.5 lakh road accidents in India in 2019, resulting in over 1.5 lakh deaths. In such a scenario, it is important to have a motor insurance policy to protect yourself […]
