Guide for Policy holders

Guide for policyholders Involve the family: Involve your spouse and other family members in financial decisions. At least make them aware of all your investments and policies. As of now, there are few who involve their spouse in the financial planning process, according to experts. “Some of our clients involve their wives at least on a half-yearly basis in update meetings with us so that they know the basic plan for the family,” said Varun Girilal, co-founder and executive director, Mitraz Investment Advisors. Organise documents: Ideally, you should make a file of all your investments and insurance policies and share it with your spouse. “A good practice is to share inventory or a dossier in one place with all relevant details such as contact number, amounts etc. with the spouse who is not actively involved in the finances,” said Girilal. Put in place a plan: There’s nothing better if you can chart out a plan, that your dependants can rely on after your death. But to do that, you need to have the right amount of sum assured. “A plan or asset allocation that can be followed, and a professional or family adviser to consult with should be suggested,” added Girilal. Read more at www.starhealthdevarajan.com/news/636 for Insurance related services U can always call 98401 77017 Devarajan

Measure Ur financial Health

HOW TO MEASURE YOUR FINANCIAL HEALTH? CHECK THESE SIX METRICS Your financial health is extremely important as it determines how well you will be able to achieve your goals and ambitions, and in turn improve your quality of life. You can determine whether you’re doing well, or need to pull up your socks by checking your progress with regards to certain metrics. Take a look at what these metrics are. Setting a budget This is a basic practice that you must follow, regardless of whether you are just starting your career or have been working for a while. In essence, it is simply a check you put in place to be sure that you are using your money judiciously, and not spending more than you can afford to. Consider it as the first step to good health, and if you aren’t doing this already, set a budget immediately! You can make it as detailed as you wish to. Setting financial goals Another important way in which you can assess your life basis your finances is by examining whether or not you have defined financial goals. It makes sure that your efforts are guided by a larger purpose and that you’re working towards a defined cause, instead of shooting arrows in the dark. To get started, set goals that cater to immediate as well as long-term ambitions. This way you will be able to save, invest and make money decisions in a more focused, driven manner. Read more at www.starhealthdevarajan.com/news/635 for Insurance related services, U can always call 98401 77017 Devarajan www.starhealthdevarajan.com

Retirment Planning

IS RS 1 CRORE GOOD ENOUGH FOR YOUR RETIREMENT? KEEP THESE 5 THINGS IN MIND Is Rs 1 crore enough for your retirement? This question is best answered with the old saying “more the merrier”. A greater amount of something is always better. This holds good even for your retirement corpus. While planning your cash flow strategy for the later years, you need to ask yourself if you are creating enough to last a lifetime? Will your money work for you over the next few decades? To be sure that you won’t run out of money, it’s best to retire with more than you actually need. Do you have a dream lifestyle that you want to live after retirement? All of us do! Living your sunset years the way you like involves planning for it much in advance and saving enough. The primary aspect of retirement planning is to think long term and to start immediately. The precise amount that you aim to save depends on your lifestyle. Here are a few points why more the merrier is the way to go while building your retirement corpus: Read more at http://starhealthdevarajan.com/news/634

Income Tax returns

NOT FILING YOUR INCOME TAX RETURNS ON TIME? YOU COULD BE PROSECUTED Not filing your income tax returns can lead to prosecution, even if you are entitled to a refund. In a recent decision, the Delhi High Court (HC) held the prosecution proceeding stands committed upon non-filing of income tax return within the prescribed due date under section 139 (1) of the Income-Tax Act. An individual taxpayer had failed to file his income tax return for the Assessment Year (AY) 2003-04 to 2005-06 within the time stipulated under section 139 (1) of the Act. In addition, he failed to abide by the notices issued under Section 142 (1) (requiring a taxpayer to furnish tax return and certain other information) for non-filing of returns. The assessing officer initiated the prosecution proceedings against the taxpayer as punishable under Section 276CC. After the lower court ruled against the taxpayer, he went to the high court. The taxpayer said in relation to AY 2004-05 and AY 2005-06, there was no tax due. Instead, he said he paid more tax than he was supposed to and would have got a refund. Read more at www.starhealthdevarajan.com/news/633

Financial Health

HOW TO MEASURE YOUR FINANCIAL HEALTH? CHECK THESE SIX METRICS Your financial health is extremely important as it determines how well you will be able to achieve your goals and ambitions, and in turn improve your quality of life. You can determine whether you’re doing well, or need to pull up your socks by checking your progress with regards to certain metrics. Take a look at what these metrics are. Setting a budget This is a basic practice that you must follow, regardless of whether you are just starting your career or have been working for a while. In essence, it is simply a check you put in place to be sure that you are using your money judiciously, and not spending more than you can afford to. Consider it as the first step to good health, and if you aren’t doing this already, set a budget immediately! You can make it as detailed as you wish to. Setting financial goals Another important way in which you can assess your life basis your finances is by examining whether or not you have defined financial goals. It makes sure that your efforts are guided by a larger purpose and that you’re working towards a defined cause, instead of shooting arrows in the dark. To get started, set goals that cater to immediate as well as long-term ambitions. This way you will be able to save, invest and make money decisions in a more focused, driven manner Read more at www.starhealthdevarajan.com/news/635 www.licdevarajan.com for Insurance Services, U can always call us at 98401 7017 Devarajan https://www.facebook.com/myfamilyagent

Health Insurance

HERE'S HOW YOU CAN AVOID AN INSURANCE CLAIM REJECTION Insurance is basically a contract between the insurer and policyholder based on principles of good faith. If the policyholder fails to exercise complete honesty and accuracy while providing the information to the insurer, the insurer might reject the claim stating it as the reason for its rejection. You need to be aware of the following reasons for rejection before you file claim papers. Below listed are some of the common reasons for claim rejection: Non-disclosure or incorrect disclosure of the facts Giving inappropriate or wrong information about policyholder is one of the most common reasons for claim rejection. If there is any wrong information or discrepancy in the information provided to the insurer, then the insurer has the full authority to reject the claim raised under the policy by the policyholder. As a responsible buyer, it is obligatory for the policyholder to give the right information required by the insurer. There can be a possibility that the insurer may add the wrong detail by mistake, so it is advisable to check the policy documents precisely as soon as you receive it and inform the insurer in case of any mismatch Read more at http://starhealthdevarajan.com/news/625 for Insurance Related Services, U can always call 98401 77017 Devarajan https://www.facebook.com/myfamilyagent www.licdevarajan.com

Motor Insurance

10 FACTORS WHICH CAN AFFECT YOUR MOTOR INSURANCE CLAIM Buying a motor vehicle is one of the most essential parts of owning a car. It gives you a sense of safety while driving your vehicle. However, if your vehicle gets involved in a mishap, it can drain you emotionally and financially. In India, it is compulsory to have third party car insurance but normally, people buy a comprehensive insurance policy because damage to one’s own vehicle can also be a very expensive proposition and it is simply a practical thing to do while getting your vehicle insured every year. Most of us think that you can easily get claim if your vehicle is insured. However, in reality, it is not as simple how it looks like. As per IRDAI's new circulation on increased Personal Accident cover with respect to claims, insurance companies will confirm whether there was any fault from the owner-driver in relation to the accident. Therefore, it is important for the owner-driver to be careful while going out for a drive. Here are ten reasons why your insurance claims can get rejected: == Ideally, the insured should inform the insurance company within 48 hours to 72 hours after your car meets an accident. Failing this, your claim may be rejected. == The insurance claim will get rejected if you use your private vehicle as a commercial vehicle. Read more at http://starhealthdevarajan.com/news/624 for Insurance Related Services, U can always call 98401 77017 Devarajan https://www.facebook.com/myfamilyagent www.licdevarajan.com

Fiancnical Planning

4 FINANCIAL LIFE STAGES AND HOW TO PLAN FOR THEM If the laundry list of “things to do” puts you off financial planning, then here is a way to make it easier. The elements that form part of the financial planning exercise include budgeting to generate savings, investing for goals, securing , protecting income through life and general insurance, managing debt and planning for the transfer of wealth. While each element plays an important part in securing your finances, not all of them are equally significant at every stage in the life-cycle. Categorise the activities as critical, important, urgent and optional in each phase of your life. Focus your resources on those activities that are identified as critical and important that need immediate attention. Consider activities that are labelled as urgent only if they are also seen as essential. For example, while you may consider holding off increasing contribution to the retirement corpus in favour of paying life insurance premium, you should not consider doing it to fund a holiday even if it is urgent. We tell you the four critical stages in a life cycle and how different financial planning approaches and tools can fit into each to make it a smooth ride for you. Read more at http://starhealthdevarajan.com/news/619 for Insurance Related Services, U can always call 98401 77017 Devarajan https://www.facebook.com/myfamilyagent www.licdevarajan.com

Proper age to Buy Life insurane

IS THERE A RIGHT AGE TO BUY LIFE INSURANCE? No one who comes of age and lands a job can escape the inevitable – that is an insurance sales agent who comes knocking. Looking back, I am ashamed to admit that many of my not-so-proud moments came from evading unplanned encounters with relatives and acquaintances who decided to try their hand at selling life insurance. What can I say? I was young, not savvy with small talk, have yet to learn to say no, and truthfully, my income could barely cover the bills. Now I’d like to think I know better and even go out of my way to set planned meetings with insurance specialists to protect my daughters’ financial future. If I knew then what I know now, I would have managed those “ambush” meetings better, and might have come away with sound investments too. Read more at http://starhealthdevarajan.com/news/617 for Insurance related Services Call 98401 77017 Devarajan www.starhealthdevarajan.com

Financial Planning

4 FINANCIAL LIFE STAGES AND HOW TO PLAN FOR THEM If the laundry list of “things to do” puts you off financial planning, then here is a way to make it easier. The elements that form part of the financial planning exercise include budgeting to generate savings, investing for goals, securing , protecting income through life and general insurance, managing debt and planning for the transfer of wealth. While each element plays an important part in securing your finances, not all of them are equally significant at every stage in the life-cycle. Categorise the activities as critical, important, urgent and optional in each phase of your life. Focus your resources on those activities that are identified as critical and important that need immediate attention. Consider activities that are labelled as urgent only if they are also seen as essential. For example, while you may consider holding off increasing contribution to the retirement corpus in favour of paying life insurance premium, you should not consider doing it to fund a holiday even if it is urgent. We tell you the four critical stages in a life cycle and how different financial planning approaches and tools can fit into each to make it a smooth ride for you. Read more at http://starhealthdevarajan.com/news/619 for Insurance Related services, Call 98401 77017 Devarajan www.starhealthdevarajan.com

Spl Policy for HNI

HIS LIC SCHEME GUARANTEES RS 1 CRORE, INSURANCE BENEFITS AND MORE; DETAILS HERE LIC's Jeevan Shiromani offers both protection and savings to High Net-worth individuals (HNIs). The non-linked plan comes with a minimum assured sum of Rs 1 crore. Sum assured is basically the guaranteed amount a customer receives from an insurer. Jeevan Shiromani plan provides financial support for the family in case of unfortunate death of the policyholders during the policy term. Periodic payments are also made on the survival of the policyholder at specified durations during the policy term and a lump sum payment to the surviving policyholder at the time of maturity. The plan also provides for payment of a lumpsum amount equal to 10% of the chosen Basic Sum Assured on the diagnosis of any of the specified Critical Illnesses. The scheme also takes care of liquidity needs through loan facility. Eligibility Conditions and Other Restriction : http://starhealthdevarajan.com/categories/18/products/36 Call 98401 77017 Devarajan www.licdevarajan.com

Portability

National Insurance Company Limited (NICL) has discontinued “BOI National Swasthya Bima Policy” with effect from 00.00 hrs of 3rd October, 2018. No Fresh Policy will be issued to first time Proposers/New Customers. All existing Policyholders whose Policies are expiring between 3rd October, 2018 and 31st December, 2018 shall have an option to renew the policy for one more year only. IRDAI PORTABILIW NORMS SHALL APPLY IN CASE OF CHANGE OF INSURER. Call 98401 77017 Devarajan or Whats app 98401 77017 to Renew Ur Policy Without breaking your continuity in your policy www.starhealthdevarajan.com

LIC Policy Loan

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Know about Life Insurance

5 KEY QUESTIONS TO ASK ABOUT YOUR LIFE INSURANCE You may have purchased life insurance years ago and never looked back. “Life is dynamic,” he says. “Some of the reasons people have life insurance is to replace income or to fund goals that you expect to fund if you are living and working. But when you die, that income goes away and so does the money to fund some of those goals.” five questions every person should ask about their life insurance coverage: Do I have the right type of coverage? There are two types of life insurance: term and permanent. Ramassini says with term insurance, there is an even exchange. You pay a premium and if you die within a certain period of time, a death benefit will be paid out. He notes that once this type of insurance expires, it gets more expensive as you get older. Permanent life insurance typically provides both a death benefit and a cash value. Part of the premium will go to the cash account, while another part will go to a death benefit. The cash value can be invested in different ways. But unlike term life insurance, permanent insurance does not expire as long as you keep paying the premiums. Ramassini says you should take into account your health when deciding which plan is right for you. Read more at http://starhealthdevarajan.com/news/612 for Insurance related Services call 98401 77017 Devarjan

Life Insurance over Financial Assets

MILLENNIALS PREFER LIFE INSURANCE OVER OTHER FINANCIAL ASSETS: STUDY A majority of millennials look at life insurance as a preferred financial instrument to invest in, to meet their financial goals, says a survey. The findings are based on a survey by Assocham and IndiaFirst Life Insurance conducted to study savings and investment patterns of about 1,000 individuals in the age group of 18-35 years across Maharashtra. "Higher cover at lower premium rates, simplified buying process aided with quick customer service and easy documentation makes life insurance a preferred financial asset," showed the the survey titled, Household savings and simplification of insurance. Nearly, two-third (70 per cent) of millennials preferred life insurance as preferred instruments, closely followed by mutual funds (69 per cent) and fixed/recurring deposits (64 per cent). It said the respondents are quite cognisant about insurance as a financial instrument and are aware about the distinct types of insurance products with 35 percent respondents preferring to invest in a term plan. http://starhealthdevarajan.com/news/613 for Insurance related Services Call 98401 77017 Devarajan

Health Insurance Agent

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SBI ATM limit Lowered

SBI HALVES ATM WITHDRAWAL LIMIT TO RS 20,000 MUMBAI: State Bank of India (SBI) has halved cash withdrawal limit on its ATM cards ahead of the festival season citing fraud precaution as a reason. The existing daily cash withdrawal limit of Rs 40,000 under the bank’s classic and maestro cards have been reduced to Rs 20,000. “In view of the increase in number of complaints received by the Bank around fraudulent transactions at ATMs, and to encourage digital/cashless transactions, it has been decided to decrease the cash withdrawal limits of Debit Cards,” the bank said in a statement. SBI has asked all branches to inform customers of the changes as under the Banking Codes & Standard Board of India guidelines, at least 30 days notice has to be given to the customers for any change in terms and conditions or charges.

Avoid Mistakes While Buying Mediclaim

5 MISTAKES TO AVOID WHILE BUYING HEALTH INSURANCE One of the most important things these days is to buy a suitable health insurance plan for our family. But we need to understand different aspects of the policy before buying and this is where sometimes we may make a mistake. If we buy a health insurance plan either in hurry or without complete understanding of the plan it may result in unpleasant experience at the time of claim. Here are some of the common mistakes that people make while purchasing health insurance and some suggestions to avoid them which will make for a happy claim experience. Underinsuring yourself The most common health insurance mistake is skimping on the coverage amount. You tend to lower your premium costs because of which the coverage gets limited. Would the low coverage be sufficient in meeting your medical expenses? The remedy – medical expenses have become unaffordable to the common man. Since health plans are designed to protect you against such medical costs, invest in an optimal sum insured. Take into consideration the number of members to be covered under your plan and the current medical expenses when selecting the sum insured. If affordability is an issue, buy a top-up plan for supplementing your cover but do ensure a higher coverage. Read more at www.starhealthdevarajan.com/news/608 For Health Insurance/Mediclaim Services, U can always call at 9840177017 Devarajan www.starhealthdevarajan.com https://www.facebook.com/mediclaimagent/ https://twitter.com/licdevarajan https://www.blogger.com/u/1/blogger.g?blogID=6179272565815983646#allposts https://business.google.com/posts/l/00889445154232854974 https://groups.google.com/forum/#!forum/mediclaimpolicyforall