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Rs. 2 Lakh Tax? How Much Premium Do I Need to Pay?

Milind Vadjikar |618 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Sep 04, 2024

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more

Question by Shailesh on Aug 01, 2024Hindi

Money

Agar muze Rs.200000 ka tax bharna he to muze kitna premium pay karna padega insurance plan me. Pls provided calculation

Ans: Under old tax regime you can save upto ? 1.5 Lacs by paying insurance premium also additional ? 50K can be saved by investing in NPS, based on surplus deduction available under 80CCD(1B)

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Question by Nripendra - Jun 11, 2024Hindi

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Namshkar sir Main ye jaanna chahta hu ki jaise kisi ne 5 lakh ka medical insurance le rkha hai aur us yakti ke pariwar main 4 log aur ha to kya har Pariwar ke sadsya ko 5 lakh ka medical insurance milega kripya krke margdarshan kre..

Ans: Coverage for All Family Members
In a family floater plan, the total sum insured is shared among all members. If your policy is for Rs. 5 lakhs, this amount is the maximum limit available for the entire family.

Distribution of Sum Insured
If one member uses Rs. 2 lakhs, the remaining Rs. 3 lakhs is available for the rest of the family within the policy year. The sum insured is not per person but for the family as a whole.

Advantages of Family Floater
Cost-Effective: It's generally more economical than individual policies for each family member.

Flexibility: The entire sum can be used by one member or shared among all.

Disadvantages to Consider
Limited Coverage: If one member uses a significant amount, less is available for others.
Additional Tips
Review Annually: Ensure the sum insured meets your family's needs.

Top-Up Plans: Consider top-up plans for additional coverage if required.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ramalingam Kalirajan |7026 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Jul 25, 2024

Question by pepe - Jul 17, 2024Hindi

Money

Meri policy jeewan asha -2hai.ishe mene28-09-2003 me liya tha. Haff yearly premium 11992rs hai. Policy plan 131-25 hai. Mujhe 25 year tak premium dena hai. Mujhe policy mature hone par kitna amount milega.

Ans: Policy Details Overview
Policy Name: Jeevan Asha - 2
Start Date: 28-09-2003
Half-Yearly Premium: Rs 11,992
Policy Term: 25 years
Plan Number: 131-25
You are paying Rs 11,992 as a half-yearly premium, which amounts to Rs 23,984 annually. This policy has a term of 25 years.

Total Premium Paid
Total Premiums Paid Over 25 Years:
Annual Premium: Rs 23,984
Total Years: 25
Total Premium Paid: Rs 23,984 * 25 = Rs 5,99,600
Maturity Amount Estimation
The maturity amount for a Jeevan Asha - 2 policy can depend on various factors, including the sum assured, bonuses, and final additional bonuses (FAB). Since the specific sum assured and bonuses are not provided, we will give a general idea.

Sum Assured:

The sum assured is the guaranteed amount paid on maturity. Check your policy document for the exact sum assured amount.
Bonuses:

LIC policies often include reversionary bonuses declared annually. The bonus rate varies yearly. Historically, it has been around Rs 40 to Rs 50 per Rs 1,000 of the sum assured.
Final Additional Bonus (FAB):

An additional bonus may be declared at the end of the policy term. This depends on LIC's performance and policy duration.
Example Calculation
For an illustrative example, let's assume:

Sum Assured: Rs 3,00,000 (You need to check your policy for the exact sum assured)
Annual Bonus: Rs 45 per Rs 1,000 sum assured
FAB: Rs 25 per Rs 1,000 sum assured (if applicable)
Annual Bonus Calculation:

Sum Assured: Rs 3,00,000
Annual Bonus: Rs 45 per Rs 1,000 = Rs 13,500 per year
Total Bonuses Over 25 Years: Rs 13,500 * 25 = Rs 3,37,500
Final Additional Bonus (FAB):

Sum Assured: Rs 3,00,000
FAB: Rs 25 per Rs 1,000 = Rs 7,500
Total Maturity Amount:

Sum Assured: Rs 3,00,000

Total Bonuses: Rs 3,37,500

FAB: Rs 7,500

Total Maturity Amount: Rs 3,00,000 + Rs 3,37,500 + Rs 7,500 = Rs 6,45,000

Final Insights
The exact maturity amount can vary based on the sum assured and actual bonuses declared by LIC. It is advisable to consult your policy document or contact LIC for precise details.

By estimating the bonuses and sum assured, you can get an idea of the maturity amount.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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Question by Donna - Jun 25, 2024Hindi

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Dr. Shyam, I had my teeth cleaned 6 months ago and after that was done I saw discoloration on certain teeth that wasn't there before. Years ago I had my teeth cleaned and one particular tooth after the cleaning was sensitive to touch. I had a crown put in from two different dental offices. The first one did the crown right, but was trying to charge me $3,500 more than the agreement they made with Medicare. Medicare corrected that. I other dentist did a crown and it didn't go all the way up to my gums and is sensitive to especially cold things. I'm not having very good experiences with dentist by and large. Can't find an honest one or one that can actually do the job right. I feel being on Medicare your a target to bring in money. Not sure what to do next. Supposed to go back and have them redo the crown that didn't go to my gums, but it also was ttd place to didn't clean my teeth right and discolored some of them. Any suggestions on how to trust there is actually an capable and honest dentist out there who can perform properly?

Ans: Identifying a capable and honest dentist is crucial for your oral health and well-being. Here are some tips to help you find one:

1. Ask for referrals: Ask friends, family, or coworkers for recommendations. They can provide valuable insights into a dentist's work quality and bedside manner.

2. Check credentials: Ensure the dentist has the necessary qualifications, certifications, and licenses. You can verify this information with your state's dental board or professional organizations like the American Dental Association (ADA).

3. Check online reviews: Look up the dentist on review platforms. Pay attention to the overall rating and read the comments to understand the strengths and weaknesses. At the same time, do not rely on reviews alone as these can be manipulated, fake reviews can be easily generated.

4. Evaluate their communication style: A good dentist should listen to your concerns, explain procedures clearly, and answer questions patiently. Ensure you feel comfortable asking questions and discussing your treatment.

5. Assess their facility and equipment: A well-organized and modern dental office with up-to-date equipment is a good sign.

6. Check their approach to preventive care: A capable dentist emphasizes preventive care, including regular cleanings, exams, and education on oral hygiene.

7. Be wary of over-treatment: A honest dentist will not recommend unnecessary procedures. Be cautious if you feel pressured into extensive treatments.

8. Trust your instincts: If something feels off or you don't click with the dentist, it's okay to explore other options.

10. Schedule a consultation: Many dentists offer initial consultations or meet-and-greets. Use this opportunity to assess their approach, ask questions, and gauge your comfort level.

By following these steps, you can increase your chances of finding a capable and honest dentist who prioritizes your oral health and well-being.

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Asked by Anonymous - Nov 10, 2024Hindi

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I have gum inflammation from teenage years now am in 30s it bleeds rarely but swelling doesn't reduce though from many years am waiting for it to come to normal...

Ans: Hello
You have not mentioned whether you have consulted a dentist for your gum inflammation and were treated in the past for the same.
The most common cause for gum inflammation is poor oral hygiene. Inadequate or improper brushing can lead to accumulation of tartar or calculus which in turn leads to gum inflammation. This tartar or calculus has to be cleaned (the process is called scaling) periodically by a qualified dentist in order to maintain gum health. The recommended frequency can be determined by your dentist after periodic check ups.
If you have gum inflammation despite regular check ups and cleaning, other factors could be responsible.
Certain medicines which need to be taken on a regular basis are known to cause swelling of the gums. Hormonal imbalances can also affect the gums. To rule out these extra-oral factors, your medical history and medication will have to evaluated and adjusted by a General Physician.

Prof Suvasish Mukhopadhyay |107 Answers |Ask -Follow

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Question by Sachith - Nov 14, 2024Hindi

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I've completed my BSc in Chemistry and Biotechnology and am now contemplating my master's degree options. I'm torn between MCA (Master of Computer Applications) and MSc Bioinformatics. Considering my life science background, I'm unsure if pursuing MCA would limit my job prospects and i don't know much about Msc bioinformatics So what to do now?

Ans: Go for MCA or Msc bioinformatics. Take prper decision. Ask yourself whether you want to be in the core line or you want to shift to IT side. If IT side then even MCA will not be enough. It's an age of AI. So you need to go for a good certificate course which is having collaboration with some reputed IIT. So please decide with a calm and cool mind then proceed. In your country before going for a three years course we don't even think for three hours. DECISION DECIDES DESTINY. So take proper decision. I am always there for you. Best of luck. MAY GOD BLESS YOU. Professor..............:)

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Hi, sir, My daughter is doing degree in political science in Delhi University,and she does not want to continue masters in pol. sc. so, what are the other options available for her after degree ,if she does not want to do masters in pol sc.

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I am 45 year's old high school physics teacher with M.Sc in Physics and having M.Tech degree in safety, also having 18yrs teaching and four year of industry experience, now if I complete online B.Sc in AI and DS from IIT Guwahati, and try to do research in AI or quantum computing ,can I switch over in this age or I can get research opportunities

Ans: Frankly speaking research work means pursuing Ph.D or joining some company of AI, ML and DS in their R&D division. Along with job Ph.D you can't do, but certainly after the certificate course of IIT Guwahati you will have access to the R&D of the companies who deal with DS, AI and ML. Only your huge teaching experience is a negative factor. Still I would suggest you to go for the certificate course and try for R&D job. Best of Luck. MAY GOD BLESS YOU. Professor.....................:)

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Asked by Anonymous - Nov 03, 2024Hindi

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Hi, I am 30 years old not married & now my parents are forcing me to get married. I think i am good looking guy. It's not like i have never been with girls. I have had brief flings with multiple girls. And there was one girl whom i was in a platonic relationship with with lot of emotional sharing & have spent a lot of time with her. The same goes with another girl. Both of them have told me that i have been pretty cool & girls would like me to be their bf or husband. But i am not able to accept anyone because of the guilt that of my past that i never had a relationship. Never been able to tell anyone that i had a gf. I know this is wrong to compare my life but i can't stop thinking that way. Can you tell me what to do? Like a contsant regret of not having a very steamy cool fancy relationship from outside. I know relationships have it's own ups & downs. But this guilt is killing me that i missed out lot of things in life & if get married in an arranged marriage i would feel myself to be a looser who couldn't even find a girl on his own. Though i know all of these comparisons are wrong & i should be rational. I am not able to help it. Please help me out

Ans: Dear Anonymous,
Whatever you are feeling, it is very normal. More people than you could imagine go through this same phase. But as you mentioned, these are just thoughts; there is no truth to them. Not having a relationship does not make you uncool. It merely means that you did not meet your perfect match yet. I understand that you feel like you have missed out on something and that feeling is valid. It might not be reasonable, but it's very natural to think this way. I can suggest one thing- why don't you try a dating or matchmaking app to find your own partner? That way, you will be keeping your parents' wishes and won't let yourself down either. It will also give you more control over choosing your life partner.

Hope this helps.

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Question by Salman - Nov 14, 2024Hindi

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Hi, I got married to my ex gf in an arranged setup. I had a 7 year of relationship with her before breakup. My career switch try from private to govt job was the reason. When I failed I returned back to corporate. 3 years after the breakup her father who is a good friend of my father sent proposal which led to our marriage. No one knew that we dated. We never had a word between the acceptance and marriage. None of us initiated the conversation. When she came after marriage her behavior towards me in private is totally strange. We never had an emotional conversation. Neither we discuss romance nor intimacy. In private we hardly have any intellect discussions which was an eternal part before our breakup. But when she is in public she behaves like she cares for me a lot. She is a darling of everyone in the house whether my parents or siblings. Most of the time she remains with my mother and she has good bond. In front of her she cares for me a lot. She had this double faced attitude from the first day. Our intimacy is limited to my ask she could agree or disagree but she never initiated it. She was pretty passionate before our breakup which I never saw after our marriage. I tried everything but nothing has happened she never opened up. She disconnected with almost all our mutual friends after marriage. Whenever I tried through some of her friends she says to them I overthink a lot. Marriages and relationships differs. All useless and weird reasons. Everyone blames my teenage short temper issue. Which I have completely overcame when I started working. After marriage we had a boy. She says no for a next child for which I am fine. But the problem is now my child is growing and she has started understanding her hypocrisy. Now she blames me for teaching him wrong things. We hardly had fights as she walks out or I won't say word usually after she didn't answer for anything. I am unable to see the light in this relationship. She had 3 relationships in between but I never had one which I never discussed. Now I hardly ask for anything. Day by day we are becoming only room partners or fake couples in public. Everyone sees her as an ideal daughter in law or wife due to her public hypocrisy. Please guide.

Ans: Dear Salman,
I understand that marital issues take a huge toll on people. Whatever you are feeling, it is very normal. I strongly suggest you seek professional help- you can either opt for personal counseling sessions to manage the distress caused by your partner's indifference, or the best approach is to convince your wife to go for marriage counseling with you. It would be good to get to the root of the matter; why is she behaving a certain way, where is this coming from, are there unresolved issues from when you dated? These questions will finally get an answer and you can work on them together. If she does not agree to go, tell her to do it for your child. No child should have to see their parents unhappy with each other.

Hope this helps.

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Question by Bhalchandra - Oct 19, 2024Hindi

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I want to give NEET exam but my 12th in Maharashtra Board marks are less than 150 in PCB (general), so I am not eligible. can I give retest of 12th to get better marks so that I can give NEET.

Ans: Hi, Being a retest candidate is considered a second attempt in +2. I think the medical council will not allow admission to medicine. Instead, you can consider B.Pharm / Pharm D.

To join, the following are the requirements:

For pharm D: Minimum qualification for admission to. – a) Pharm.D. Part-I Course – A pass in any of the following examinations - (1) 10+2 examination with Physics and Chemistry as compulsory subjects along with one of the following subjects: Mathematics or Biology. (2) A pass in D.Pharm course from an institution approved by the Pharmacy Council of India under section 12 of the Pharmacy Act. (3) Any other qualification approved by the Pharmacy Council of India as equivalent to any of the above examinations. Provided that a student should complete the age of 17 years on or before 31st December of the year of admission to the course.

FOR B.PHARM:
Minimum qualification for admission to – A. First year B. Pharm – A pass in any of the following examinations - i. Candidate shall have passed 10+2 examination conducted by the respective state/central government authorities recognized as equivalent to 10+2 examination by the Association of Indian Universities (AIU) with English as one of the subjects and Physics, Chemistry, Mathematics/Biology as optional subjects individually. “However, the students possessing 10+2 qualification from non-formal and non-class rooms based schooling such as National Institute of Open Schooling, open school systems of States etc. shall not be eligible for admission to B.Pharm Course.” ii. Any other qualification approved by the Pharmacy Council of India as equivalent to any of the above examinations. Provided that a student should complete the age of 17 years on or before 31st December of the year of admission to the course. Provided that there shall be reservation of seats for the students belonging to the Scheduled Castes, Scheduled Tribes and other Backward Classes in accordance with the instructions issued by the Central Government/State Government/Union Territory Administration as the case may be from time to time.

Prof Suvasish Mukhopadhyay |107 Answers |Ask -Follow

Career Counsellor - Answered on Nov 14, 2024

Question by Prasad - Nov 14, 2024Hindi

Career

Hi, my son is currently studying B.E CSE 3rd year at a private college in Bangalore. What should he do primarily to land in a good company ? Please help us

Ans: First thing is that now-a-days both the parents and the students are too much preoccupied with placement. It became a disease. First let her complete the course and learn the interview techniques. Let him go through different websites and YOU TUBE videos from which he will learn how to give interviews. Let the teeth grow, then the question of smile will come. Let him complete his studies carefully. It seems to be always you people are discussing about the placement. Please mind one thing wrong placement is a permanent misplacement. Just ask him in which line he wants to go. Best of luck to your son. MAY GOD BLESS HIM.Professor............:)

Prof Suvasish Mukhopadhyay |107 Answers |Ask -Follow

Career Counsellor - Answered on Nov 14, 2024

Question by Yashwantha - Nov 14, 2024Hindi

Career

Sir I got admission in btech biotechnology and in bhms , which has more salary potential and which course should I take

Ans: Please don't think of salary potential. First you think out of the two which one do you like more. If you take the choice of your preference then automatically you can earn more, but for salary potential if you take wrong stream then whole life you will be frustrated and even you won't be able to earn. Best of luck. Professor...........:)

See more questions »

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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