Travel credit cards, along with special reward points and deals, provide insurance coverage for travel related emergencies. These cards are accompanied with a variety of benefits like compensation for trip cancellations, flight delays, medical emergencies etc. The coverage amount and benefits will however depend on your card variant as well as the bank’s policy. If … Read more
Due to the benefits, convenience, and security it provides, it is hard to picture life without a credit card in today’s world. Differentiating between annual fee or non-annual fee credit cards is a crucial step in the process of picking a credit card. Knowing the details of each option allows you to ensure your decision … Read more
I have recently been advised to undergo peritoneal dialysis, which is done at home. However, my insurance provider has informed me that dialysis is only covered if done in a hospital, with a minimum of 24 hours of admission. This treatment is expensive and needs to be done every month. Will it be covered by … Read more
When you join a corporate job, generally your company provides you with a base health insurance plan. This health insurance plan provides a reasonable safety net for you and your colleagues. Still, it has been observed that the company offered health insurance plans often fall short in offering their employees comprehensive and complete health coverage. … Read more
Have you faced any financial difficulty lately which prompted you to borrow money from a bank or non banking financial corporation (NBFC)? If that is the case, one should be mindful of a slew of things which we list out here. For instance, one should make sure that the interest rate charged on personal loan is … Read more
Remember, not all tax-saving allowances are created equal. Some more than others can provide substantial tax benefits, significantly impacting your take-home salary and tax outgo. According to chartered accountant Vijaykumar Puri, partner at VPRP & Co. Llp, the first critical step is understanding your salary structure. “The key is ensuring all allowances are properly structured … Read more
When people think about life insurance, they always consider Unit-Linked Insurance Plans (ULIPs) and term insurance. ULIPs focus on combining investment with insurance, whereas term insurance ensures life cover. However, failing to understand the intricacies of these two results in poor decision-making. Here, we discuss the five most common mistakes people make when deciding between … Read more
Armed with a strong credit score and a little persuasion, Ram returned to his bank and convinced them to lower his interest rate to 8.5%. That 50-basis-point drop may sound small, but it translated into savings of ₹25 lakh on his ₹1 crore loan over 25 years. Though Ram’s example is illustrative, the approach is … Read more
One way is to buy a multi-year insurance policy in which you have to pay the entire premium at one go. The overall outgo will be less than what you would have paid yearly for the same period. For example, if you pay three premiums at one go, the total cost will be less than … Read more
On paper, this sounds like a smooth strategy. But as with most things involving tax, the devil lies in the details. Let’s break down what this GST input tax credit (ITC) really means — and why blindly following such advice could cost you more in the long run, not just in money but also peace … Read more