About Donald Gonsalves

Founder of SimplePath™ and a regular contributor to the website's blog, Donald brings with him more than a decade of experience working as a consultant for financial planning and insurance. Send your questions to donald@simplepath.in
  • How to Save Money Without Sacrificing Joy

How to Save Money Without Sacrificing Joy

By |2024-12-05T07:30:14+05:30December 5, 2024|

#Saving money doesn’t have to mean sacrificing your #lifestyle. By implementing practical strategies, you can build #financialsecurity while still enjoying life. Automating your savings ensures consistency, while small daily changes—like brewing coffee at home or canceling unused subscriptions—can add up over time. Setting clear goals provides #motivation, and using #discounts, rewards, and bulk buying helps reduce costs without cutting out essentials. Regularly reassessing #expenses and #negotiating better #deals can free up funds, while mindful spending ensures intentional purchases. Finally, #budgeting for occasional treats makes saving sustainable and enjoyable. These balanced approaches allow you to save effectively without feeling restricted.

  • 7 Investment Rules to Become a Crorepati

7 Investment Rules to Become a Crorepati: A Decade-Long Wealth Strategy

By |2024-12-04T08:31:18+05:30December 4, 2024|

Becoming a #Crorepati is a significant #financial #milestone offering security, lifestyle freedom, and opportunities. Achieving this requires disciplined investment, leveraging compounding, and choosing growth-oriented strategies tailored to time horizons. Starting early, maintaining discipline, and leveraging high-growth assets like equity mutual funds are crucial to achieving wealth milestones. Balancing short-term needs with long-term goals through strategies like SIPs and diversified investments enhances success.

  • Zero Cost Term Insurance Is the Premium Refund Worth It

Zero Cost Term Insurance: Is It Worth It?

By |2024-12-04T06:56:18+05:30December 4, 2024|

Zero Cost Term Insurance plans allow policyholders to exit early and receive a refund of premiums paid, minus taxes. However, this option comes with certain conditions, including predefined exit windows and exclusions on refunds for riders or taxes. These plans can be appealing but may not truly be "zero cost" due to the lack of interest or inflation adjustments on the refunded amount. Before choosing such a plan, it is crucial to understand its terms and assess if it fits your financial needs.

  • Insurance Premiums Could Drop if GST Rates are Reduced

Insurance Premiums Could Drop if GST Rates are Reduced, says Finance Minister

By |2024-12-03T10:27:56+05:30December 3, 2024|

Finance Minister Nirmala Sitharaman has suggested that a reduction in the Goods and Services Tax (GST) on health and life insurance could result in lower premiums for policyholders. Speaking in the Lok Sabha on Monday, she confirmed that the GST Council is set to deliberate on this matter during its meeting on December 21, 2024. Currently, these policies attract an 18% GST rate, but proposed changes include exemptions for term life policies, senior citizens’ health insurance, and plans with coverage up to ₹5 lakh.

  • 20 Indian Health Insurers Struggle with Claim Payouts

20 Indian Health Insurers Struggle with Claim Payouts

By |2024-12-03T09:49:38+05:30December 3, 2024|

20 private health insurers in India paid less than 80% of the total amount claimed by insured patients in 2023. The analysis by the Insurance Brokers Association of India (IBAI) sheds light on significant disparities in the claim payout performance across public and private health insurers. The findings have sparked calls for policy reforms and stricter oversight. Experts argue that bridging the gap between public and private insurers is critical for a healthier insurance ecosystem.

  • insurance selling by banks

Bancassurance causes concern to IRDAI, may enforce limit on insurance sales through banks

By |2024-12-01T17:23:26+05:30December 1, 2024|

IRDAI has raised concerns over excessive concentration of business through Bancassurance. Earlier, Finance Minister Nirmala Sitharaman had expressed concern over the rampant mis-selling of financial products, especially insurance, through banks, and highlighted its adverse impact on consumers. She said mis-selling not only leads to financial distress for individuals but also increases borrowing costs.

  • Reduce Health Insurance Premiums with Deductibles and Copayment

Reduce Health Insurance Premiums with Deductibles & Copayment

By |2024-11-12T13:27:59+05:30November 12, 2024|

To reduce health insurance premiums, understand how deductibles and copayments work offers a strategic way to manage these costs. This approach requires careful consideration, as it can lower premiums yet increase out-of-pocket expenses when accessing medical services. With this article we take you through the information to benefit from paying lower premiums with higher deductibles.

  • Health Insurance for NRI Parents in India

Health Insurance for NRI Parents in India

By |2024-09-06T14:32:55+05:30September 6, 2024|

This comprehensive guide for choosing the right health insurance for your parents as an NRI. Given the rising healthcare prices in India, ensuring your parents have complete insurance isn't just a monetary funding but additionally a vast emotional one. Choosing insurance that gives easy accessibility and assist for NRIs, consisting of online top rate payments or declare processing, can in addition simplify coping with their medical health insurance from overseas. Ultimately, proactive planning and everyday reviews of their coverage can shield their properly-being, permitting you to focus on your commitments overseas with out compromising on their healthcare needs.

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