Waqf represents the concept of permanently dedicating property for an Islamic charitable cause, with the idea that the benefits of the asset will serve the community indefinitely. Here we discuss its Legacy, Purpose & the 2025 Amendment in a nutshell.
Finfluencers / Financial influencers on social media and easy-to-use investment apps have made stock market trading more accessible, often promoting high-risk investments with promises of quick wealth. While these influencers excel at storytelling, many lack formal financial expertise, and their advice can lead investors into volatile stocks, especially penny stocks, which are more likely to result in losses. Despite the ease of investing, experts warn that most investors lose money, and caution that wealth is built through long-term, disciplined strategies rather than speculative, high-risk trades.
#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.
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 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.
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 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 Amendment Bill proposes transformative changes for India’s insurance sector. Key reforms include composite insurance licenses, allowing insurers to diversify their offerings; reduced capital requirements for new entrants; and enhanced flexibility in investment regulations.
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.
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.
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