Some insurers provide structure insurance of up to Rs 2 crore without documentation

At Rs 17 a day, protect yourself against acts of God

Business Standard

Choose a place easy to reach and with visa on arrival. Group tour can help get better deals and cut costs

Not too late for foreign getaway in summer

Business Standard analyses one family's finances and suggests a way forward

Case study

Charges of mutual fund schemes have risen about 20 per cent in the past year but don't let cost be your sole criterion to select one

An expensive proposition

The recent markets fall has made equity valuations attractive

An opportunity to buy

Today, Amitabh Chaudhry , managing director & chief executive officer at HDFC Life,  answers your questionsMy insurance policy lapsed. Now, the company is running a policy renewal drive. Should I renew my policy?It is advisable to renew your policy if it has  lapsed. However, the company might ask you to undergo a medical test, depending upon the policy you bought.I am paying premiums for a traditional life insurance policy for five years. I have not received any bonus. Should I be worried?  Generally speaking, participating plans offered by insurance companies accrue bonuses throughout the policy term (or the mentioned period). These are declared at the end of the year and get attached to the receivable benefit. These are not guaranteed and the rates might change from time to time. The bonuses are not paid out at the end of every year in the form of cash payouts. I suggest you get in touch with the company. Normally, all bonuses are payable on maturity, along with the sum assured

Life insurance: Amitabh Chaudhry

Banashankari, named after Bengaluru's oldest temple, the Banashankari Amma Temple on Kanakapura Road (constructed in 1915), is an emerging micro-market in south Bengaluru. Considered an extended part of old Bengaluru, the area extends from Mysore Road to Kanakapura Road and is one of the city's largest localities. It is one of the most preferred destinations for plotted developments in this city.Located between the established areas of Jayanagar and J P Nagar in the east, Girinagar and Rajarajeshwari Nagar in the west, Basavangudi towards the north and Padmanabhanagar, Vasanthapura, Kumaraswamy Layout, Isro Layout and Uttarahalli in the south, Banashankari is the only area in Bengaluru with all possible classifications, such as stage, phase and block. It is divided into six stages, with the sixth being the largest.Stage-I primarily comprises organic developments; there are no large land parcels in this region. The development in stage-II is planned and offers plotted development by the

Connectivity gives an edge

"We are a working couple and looking for a loan of Rs 50 lakh. We can repay the loan in five years time, from our annual bonuses. But, we are being forced to take a 20-year loan as we cannot afford the monthly EMI of a five-year loan"This kind of query is very common among the young clients I meet. The EMI for Rs 50 lakh loan at the rate of 10 per cent is Rs 1.06 lakh for five years and only Rs 48,000 for 20 years - more than 50 per cent less. With the removal of prepayment charges on floating rate loans, many are able to make lumpsum payments without any prepayment charges and, thus, achieve their purpose of paying off their home loan early.One solution: There are products called offset loans. Each bank has its own brand name for these products. They are currently available from a limited number of banks. namely, Bank of Baroda (Home loan advantage), Citibank (Home Credit), HSBC (Smart Home), IDBI Bank (Home Loan Interest saver) PNB (flexible housing loan), SBI and subsidiaries (Maxga

Use offset loans to reduce interest costs

If policy action, efficient processes trigger construction activity, both could see turnaround

Is correction in steel, cement in the offing?

Asset-backed loans can be handy in meeting emergency needs. Cheaper than personal loans, these can even be taken by people with a poor credit rating

Leveraging your assets

Business Standard brings you a snapshot of average current rates and unit sizes in localities that offer property in a price range of Rs 4-6 crore. If you are looking at buying real estate and your budget falls within this range, an idea about prevailing rates would come in handy

Realty check

Treat it as separate financial goal, start early and save systematically

Funding your child's higher education

My car met with an accident when my driver was driving it. The cost of repairs is about Rs 15,000. Will it make a difference that my driver was driving and not me? Can my claim be rejected on this ground?It does not make a difference, as long as the driver has a valid licence to drive the class of vehicle as on the date of accident. Your claim would not be rejected on this ground.I purchased a family floater health insurance policy for Rs 10 lakh last year and had no claims in the last year. But when I renewed the policy the premium had increased by Rs 2,000. When I asked the company why the sum assured increased, I did not get a satisfactory answer. Since I did not want the policy to lapse, I renewed it. What could be the reasons for the increase in premium despite no claims?Generally, the premium of health insurance changes with change in age bracket. One of the probable reasons could be that the person based on whose age the premium was calculated has moved into the next age bracket

General Insurance: Rakesh Jain

This year, forecasts suggest sub-par monsoon; its impact is not restricted to agriculture alone

The economy of weather forecasts

Else, you'll need to pay from own pocket with interest and penalty

Deduct tax at source while purchasing property

Use deductions introduced in the Budget to save additional Rs 24,000 in tax

How to get more tax breaks this year

Typically, it is believed that both fixed deposits (FDs) and debt funds face similar taxation, barring the inflation indexation benefit given only to the latter. But here is another reason why debt funds could do much better than FDs.We stumbled upon this when a client with a high pension income (20 per cent income tax bracket) approached us. He needed to supplement his pension income through a strategy of investing a lumpsum in a one-year renewable fixed instrument. Every year he wanted to withdraw the interest and a part of the principal, a total of Rs 3.6 lakh, for his additional expenses. This investment was to be continued for five years.The initial idea was to invest in a one-year FD. But after a little more research, we discovered that the debt mutual fund route could be a more tax-efficient one. The reason: in the case of FDs, the entire interest would have had to be withdrawn annually and taxed at 20 per cent. On the other hand, when withdrawals are done from the debt fund, on

Lumpsum withdrawals: Debt funds score over FDs

With Sensex beating both mid- and small-cap indices comfortably over a 5-year period, experts advise caution while investing in these

How to walk the mid-cap tightrope

One of the debit cards I am using is very old. How do I get it upgraded? All banks have fairly simple processes for upgrading debit cards. You should call your bank's call centre or visit their website. Most banks allow you to apply from here. In case you don't find the function there, walk into your nearest branch and they should be able to do it. Do remember to ask about charges, if any, and the functionalities and features on the upgraded card.Many banks are offering lower home loan rates for women. I am planning to take a home loan. If it take it jointly with my mother or sister, will we get lower rates? Yes, there are indeed some offers in the market where women borrowers get preferential rates. As you choose, make sure you look at the conditions applicable. In some institutions, the woman must be the primary applicant, and sole owner of the property (or first owner, in case of joint ownership). Others might ask for the woman to be the primary applicant to the loan, and would be o

Banking: Jairam Sridharan

Karjat is part of the Mumbai Metropolitan Region (MMR) and located in Raigad district. It is an extended suburb of Mumbai and Navi Mumbai, with a population of 212,051.With several engineering, pharmacy, mass media and advertising institutes driving it economically, Karjat is also the home of hill station Matheran and several treks, including Bhimashankar. It is a beautiful, scenic and hilly hamlet which is centrally located and directly connected by roads branching out to Murbad, Kalyan, Shahpur and Kasara Ghat on one side and Khapoli, Khalpur, Neral, Ambarnath, Badlapur, Panvel and Pen on the other. The entire Karjat-Kasara belt is dotted with farmhouses and agricultural fields.Karjat is among the most preferred weekend destinations for residents of Mumbai, Pune and other urban areas in proximity. The availability of land parcels at low rates has made it conducive for affordable housing, and it now caters to the residential requirements of the Low Income Group and Middle Income Group

Page 39 - Investment