One Crore – Term Life Insurance – Why You should not take?
One crore term life insurance—is it the right coverage? Many people have questions in their minds. Why people always ask about 1 crore life term insurance. There seems to be some mental blocking. Here, in this article, I will explain the reason behind this. Unable to calculate the term insurance required… People really do not know the life insurance coverage that they need to take. I will explain in a simple way. There are two methods that planners like me will follow to advise life insurance requirements to our clients. They are… Human Life value Method Need-based Analysis. For example, …
Income Tax Slab zero tax percetage- is raised in Budget 2019 to 5 lakh or not?
On 01-01-2019, Government of India announced few amendments on Taxable income of Individuals in interim budget 2019. There are some people spreading the news just before the budget speech is completed in parliament that zero tax percentage in income tax slab for the individuals has been raised to 5 lakh rupees. Understanding budget is easy now a days. New tax rules, we can understand win in few hours of budget speech completed. Let’s understand Section 87 A new tax rebate. Click here to understand it. What is the new income zero percentage slab now? from 1st April, 2019… It is …
Revised Tax Rebate under Section 87 A ( Financial year 2019-2020) Explained.
The interim budget has proposed a change in Section 87 A for the financial year 2019-2020. There is a slight change in the tax rebate. What are the current Provisions in Section 87 A of Income TAx Act?… According current rules, if you are resident individual and your total income after all eligible deductions is equal to or less than 3.5 lack then a tax rebate of Rs.2,500 applies to the total tax payable before 4% educational cess. If you tax payable is less than Rs.2,500 then the entire amount is discounted. Revised Tax Rebate under Section 87 A(F.Y 2019-2020)… …
Financial Planning_ Why it will fail if you listen to Society?
Yes, It is true your financial Planning will fail if you listen to society. Recently I got a call from an I.T employee who already took financial planning from an other Sebi Registered Investment Adviser. Why he contacted me for me? He called me for a 2nd opinion over his “House Planning“. Moreover, He thinks that his Investment Adviser allowing him to buy a house. His adviser advised him not to buy a house till his retirement. But people around this I.T employee and his family members are asking him frequently that when he will buy a house. Why this …
My experience in Multi-Level Marketing(MLM) and Network Marketing…
I did Multi-Level marketing(MLM) and Network Martketing three times. But all three times, I am a loser. I did this business for the sake of earning huge income in short span time just like others. I have seen people chase this business when I was a child and when I am adult too. Recently, One of neighbor bought a water filter which costed Rs.3,00,000. They invited me and my wife to taste the water. As there is a obligation we went to their home. But in the conversation, I have realized that they bought this water purifier because it is …
Is Private health cover(Insurance) worth in India?
Health insurance is worth it in India or not? is the question I usually hear from my existing clients or prospective clients. Today, a serious discussion happened with one of my clients. He is a well-educated person, well settled, and earning a good salary. A few years back, I gave him “Financial Planning. As a part of financial planning, I had given him health insurance planning. He has health insurance for his family and for his parents as well. Three years completed. Now comes the fourth and the policy is due for renewal. Further more, he is not willing …
Guaranteed Income or bonus- why this kind life insurance policies are bad?
Life Insurance companies use different kind of words to attract people so that they will buy plans from them. They use words like life insurance bonus, a terminal bonus in life insurance, life insurance with bonuses. In recent years they started plans which are offering guaranteed bonus policies to the policyholder. What Kind of Guaranteed return Plans that these companies are offering?… Companies sometimes offer some kind of plans with bonus till death. Example is LIC’s Jeevan Tarun policy. Example of Guaranteed bonus… A company is asking you to pay Rs.1,000 per year for 10 years, from 11th year to …
LIC of India(new jeevan anand) – Why these kind of polices are bad?
When we are about to take a Life Insurance Policy, then first LIC of India name comes into our mind. LIC of India is backed up by Government of India. Lic is offering so many varieties of plans. But some plans are not good for you at all. They will destroy your wealth.New Jeevan Anand policy is famous in LIC OF INDIA. Life Insurance will cover the risk of dying too early and risk of dying too late. Hench, Life Insurance Corporation if it covers above said two risks. But the real problem comes when it is trying to behave differently …
ITR Filling – 8 benefits, even your income is below taxable limit?
Are you filling out your ITR return? Yes/No. There are 8 benefits if you file the I.T. returns even if your income is below the taxable limit. Many people will not return at all for years. As their income is below the taxable limit. In addition, I have seen people tend to run to the C.A. for filling returns when there is an urgency. But there are 8 benefits to filing an I.T. return even if your income is below the taxable limit. What is an Income Tax Return (ITR)? Is it necessary to file it? An income tax return …
