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Ramalingam

Ramalingam Kalirajan  |7097 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 18, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more
Gaurav Question by Gaurav on Nov 05, 2023Hindi
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Hello Sir, Kindly Advice me on Term Life Insurance and Health Insurance. I am a 26Yrs Old Man, Unmarried, Currently working for a MNC, having Both Term and Health Insurance from the firm, My Parents are covered under ECHS Program. However, I Want to go for MBA and would be taking 2yrs off in between. I am having high thyroid problem which is family hereditary. I would like to go for a term life Insurance. Are HDFC Life and ICICI Prudential a good Option for term LI. If not, please suggest any Alternative. Also please suggest a Health Insurance too, Sorry for my Lack of research on Health Insurances. I will be having my job for at least 6more Months before I go for my MBA. I want to opt for it now, so that any wait period will get covered in this span of 6Months. Thank You.

Ans: For Term Life Insurance, both HDFC Life and ICICI Prudential are reputable options. Consider your health condition and family medical history to ensure coverage.

For Health Insurance, choose a plan that covers thyroid conditions without a long waiting period. Opt for a comprehensive plan considering your upcoming MBA and job transition.
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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Ramalingam

Ramalingam Kalirajan  |7097 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 11, 2024

Asked by Anonymous - Apr 12, 2024Hindi
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Please guide us on Health insurance and term insurance policy ?
Ans: Let's delve into the importance of health insurance and term insurance policies in securing your financial well-being:

Health Insurance:

Health insurance is a crucial aspect of financial planning, providing coverage for medical expenses arising from illness or injury.
It safeguards you and your family against the financial burden of healthcare costs, ensuring access to quality medical treatment without depleting your savings.
Choose a comprehensive health insurance policy that offers coverage for hospitalization, pre and post-hospitalization expenses, outpatient treatments, and critical illnesses.
Consider factors such as coverage limit, network hospitals, co-payment clauses, and waiting periods before selecting a policy.
Regularly review your health insurance coverage to ensure it remains adequate for your evolving healthcare needs, especially as you age.
Additionally, consider purchasing a health insurance policy with lifelong renewability to secure coverage in the long term.
Term Insurance:

Term insurance provides financial protection to your family in the event of your untimely demise, ensuring they can maintain their standard of living even in your absence.
It offers a high sum assured at an affordable premium, making it a cost-effective way to secure your loved ones' financial future.
Opt for a term insurance policy with a sum assured that adequately covers your family's financial needs, including outstanding debts, future expenses like education and marriage, and income replacement.
Choose a policy with a flexible tenure that aligns with your financial obligations and life stage. Consider opting for a longer tenure if you have dependents or financial liabilities that may extend into the future.
Regularly review your term insurance coverage to ensure it remains sufficient, especially during significant life events such as marriage, childbirth, or career advancements.
By investing in both health insurance and term insurance policies, you can protect yourself and your loved ones from unforeseen financial setbacks and secure a peaceful future.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

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Ramalingam

Ramalingam Kalirajan  |7097 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

Asked by Anonymous - Apr 30, 2024Hindi
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Money
Which is the best health insurance policy in india? Self -39yrs, Spouse -38yrs,Son-13yrs, son-7yrs. I have thyroid.
Ans: I can guide you towards finding the best plan for your family based on your needs and medical history (thyroid). Here are some key factors to consider:

Family Needs:

Age: Consider your family's age and potential health risks associated with each age group.
Medical History: Disclose your thyroid condition to ensure the plan covers pre-existing conditions or offers add-on riders for specific illnesses.
Coverage Requirements: Think about the type of hospital you prefer (network vs. non-network), room type (single, double), and preferred treatments (Ayurvedic, homeopathy).
Policy Features:

Sum Insured: Choose a sufficient sum insured to cover hospitalization costs for everyone in your family. Consider factors like city tier (medical costs are higher in metros) and inflation.
Coverage Type: Consider a comprehensive plan that covers hospitalization expenses, pre and post-hospitalization costs, ambulance charges, and day care procedures.
Network Hospitals: Opt for a plan with a wide network of hospitals in your city to ensure easy access to quality healthcare.
Co-pay/Deductible: A co-pay or deductible involves sharing a portion of the hospitalization cost. This lowers premiums but increases your out-of-pocket expense.
Exclusions: Carefully review policy exclusions to understand what treatments or conditions are not covered.
Here's a roadmap to finding the best policy:

Compare Online: Use online insurance comparison platforms to get quotes from different insurers.
Shortlist Based on Needs: Shortlist plans that meet your family's coverage requirements and budget.
Read Policy Wording: Carefully read the policy wording (wording can differ between insurers) to understand inclusions, exclusions, claim settlement process, and renewal terms.
Customer Service Reviews: Research customer reviews to get an idea about claim settlement experiences with different insurers.
Agent vs. Direct Purchase: You can buy directly from the insurer's website or consult an insurance agent who can guide you through the process and recommend plans based on your needs.
Here are some additional tips:

Pre-existing Conditions: Disclose your thyroid condition clearly during the application process.
Some plans might have a waiting period for pre-existing conditions before coverage applies.
Some might offer coverage with exclusions or higher premiums.
Renewability: Choose a plan with guaranteed lifetime renewability to ensure coverage throughout your life.
Claim Settlement Ratio: Consider the insurer's claim settlement ratio to understand their record of settling claims efficiently.
Remember: The best health insurance policy is the one that caters to your specific needs and offers comprehensive coverage at an affordable premium.

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Radheshyam

Radheshyam Zanwar  |1054 Answers  |Ask -

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Nov 21, 2024

Asked by Anonymous - Nov 21, 2024Hindi
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Hello, I am 3 yr neet dropper.in 2025 it will be my third attempt... I'm trying my best to crack neet ...i don't know what will happen will i score good marks or not ... please help me in suggesting good career options if not crack neet .....there are many options through neet marks also like bhms , veterinary...etc. i will also give entrance exam also like cuet ,gbpuat ,....but i want that what to choose which course will be best for me ...i want to make my life good and happy... having a good degree, good job ,...
Ans: Hello.
Have you analyzed your failure in 2 successive attempts in the NEET examination? If yes, then the question is what you have done for improvement and not then again the question arises why not? Here, I would like to suggest you focus now only on the NEET examination which is your 3rd attempt. Don't think about any other options right now till May 2025. After the NEET exam is over, you have ample time to explore the options available. Depending on your score in NEET 2025, we will guide you at that time. But yet, if you are confused, then looking towards your question and anxiety, you need personal counseling where you can express yourself face-to-face. Only after the NEET exam is over, you contact a counsellor for one-to-one counseling. Till then, keep mum and focus only on NEET. Take this exam as your mission and project. Work on this project, apply forces from all sides, success is there which is waiting for you eagerly.
Best of luck for your bright future.

Some tips: (1) Analyse separately Phy, Che, Bio (2) Prepare a list of hard topics (3) First focus more on the topics which are easy for you and then try to excel in hard topics (4) Appear more and more online/offline examinations (4) Prepare your short-cut file for all subjects (5) Prepare a file for each subject having only synopsis of all chapters (6) Try to solve the problems at the lightening speed and observe the period on regular basis (7) Create your time table to revise the topics on regular basis (8) Do not hesitate to ask your difficulties to your teachers, if you have joined to offline classes (9) Keep the habit of marking the answers which you know 100%. Don't guess the answers and mark them, as there is -ve marking scheme. (10) Be calm, quite, and smiling all the time to release the tension and always have a healthy chat with your friends.

If satisfied, please like and follow me.
If dissatisfied with the reply, please ask again without hesitation.
Thanks.

Radheshyam

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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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