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Ramalingam Kalirajan |7097 Answers |Ask -Follow

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

Asked by Anonymous - Aug 22, 2023Hindi

Money

is good to get the life term insurance plans from private companies like HDFC , SBI life or ICICI. If they have the good track record on providing amount during death of the insured person like LIC

Ans: Yes, it is good to get term insurance plans from reputed private companies like HDFC Life, SBI Life, and ICICI Prudential Life. These companies have a strong track record of claim settlement and are regulated by IRDAI. While LIC is a trusted government-backed insurer, private insurers also offer reliable and competitive term insurance plans with comprehensive coverage and benefits. It's essential to consider the claim settlement ratio, policy features, financial strength, and customer service when choosing an insurer. Consulting a Certified Financial Planner can help you select a plan that best meets your needs and offers financial security to your family.

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 Kalirajan |7097 Answers |Ask -Follow

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

Asked by Anonymous - Aug 22, 2023Hindi

Money

If it is good to get the life term insurance plans from private companies like HDFC , SBI life or ICICI. If they have the good track record on providing amount during death of the insured person like LIC

Ans: Private life insurance companies like HDFC Life, SBI Life, and ICICI Prudential Life have established a strong presence in the insurance market and have a good track record of claim settlement. They are regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and adhere to the guidelines set by the regulatory authority.

Here are some points to consider when choosing a term insurance plan from private companies:

Claim Settlement Ratio: Check the claim settlement ratio of the insurance company. A higher claim settlement ratio indicates that the company has a good track record of settling claims.
Financial Strength: Assess the financial strength and stability of the insurance company by checking its solvency ratio, profitability, and credit ratings.
Policy Features: Compare the policy features, benefits, riders, and exclusions offered by different insurance companies to find a plan that meets your needs and requirements.
Customer Service: Evaluate the customer service and support provided by the insurance company. Prompt and efficient customer service can make the claim settlement process smoother and hassle-free.
Premium Rates: Compare the premium rates of term insurance plans offered by different companies to find a cost-effective option without compromising on coverage and benefits.
Reviews and Feedback: Research online reviews, testimonials, and feedback from policyholders to gauge the reputation and reliability of the insurance company.
While LIC (Life Insurance Corporation of India) is a trusted and government-backed insurance provider with a high claim settlement ratio, private insurance companies also offer competitive term insurance plans with attractive features and benefits. It's essential to do thorough research, compare different options, and choose a reputable insurance company with a good track record of claim settlement to ensure financial protection for your family in the event of your untimely demise. Consulting with a Certified Financial Planner can help you make an informed decision and select a term insurance plan that best suits your needs and budget.

Ramalingam Kalirajan |7097 Answers |Ask -Follow

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

Question by Gaurav - Nov 05, 2023Hindi

Money

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.

Jinal Mehta |95 Answers |Ask -Follow

Financial Planner - Answered on Feb 01, 2024

Question by Dinesh - Jan 18, 2024Hindi

Money

Im 30 and looking for a term insurance for a term of 30 years. Could you suggest which one is best, Lic or private ones like max life, hdfc or icici. Could you kindly suggest one.

Ans: Any term insurance plan is good. Just make sure that you provide accurate information to the insurance companies when you buy the policy.

Milind Vadjikar |672 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Sep 06, 2024

Question by Jaimin - Sep 01, 2024Hindi

Money

Hi, I am 44.5 Year NRI with 2 Kids (15&11). Recently Purchased House Out of India on Bank Loan. Looking for some reliable Life insurance to Cover 2.5Cr . I already Switched my old Life insurance policy to Reduce paid up plan option for 1)Tata AIA Life insurance fortune guarantee after paying 40 lakh for 2 years and 2)India First Life insurance after paying 8 lakh for 2 years- This one was on my Son name, But I realized that my money is just getting blocked for 12 years and return is very low. Also I realized that Taking Life insurance on child is completely useless. Now I need security for my family and looking for some reliable Life insurance option to cover 2.5cr. against my Home loan. I would like to Pay premium for 10 Years period to get Life insurance coverage of 80 Years including Accident death. Kindly suggest reliable option . Regards. Jaimin Parikh

Ans: Tata AIA Sampoorna Raksha Promise
ICICI Pru iProtect Smart
MaxLife Smart Total Elite Protection
Bajaj Allianz Life e-Touch

The above mentioned term plans have the features/riders as desired by you. Their claim settlement ratio is above 99% for past 3 years.
They can be purchased online. Do your due diligence and seek help from an Insurance advisor, if needed.

Latest Questions

Dr Dipankar Dutta |690 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on Nov 22, 2024

Asked by Anonymous - Nov 21, 2024Hindi

Career

Hi sir , i am currently in class 11th and preparing for jee 2026 can you give me guide to built career in AI ML a software engineer in Microsoft

Ans: May I know your marks in class 10 board exam. Based on that I will guide you.

Milind Vadjikar |672 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Nov 21, 2024

Asked by Anonymous - Nov 18, 2024Hindi

Money

Male, Age is 29, Salary of Rs. 22000/- p.m., my expenses 6-8k p.m. (Approx), Current Investments: Mutual Funds 2k monthly, 3k RD monthly for 3 Yrs, what is suitable Health/Life/Term Insurance? ROI option for same? or Other Investment options? I have my father who got his pension & he manages our household Expenses.

Ans: Hello;

Insurance is not a investment.

It is a protection which you buy to safeguard your dependents, financially, in case of any unfortunate event.

Pure term plan with riders for critical illness and accident benefit is optimal.

Ideal life cover should be 15X-20X your annual income.

If you are keen then you may check term plans that offer return of premiums paid(less tax) if you survive the policy maturity period.

Healthcare insurance should be from a company that has:
1. High number of network hospitals throughout the country.
2. Low waiting period for pre-existing conditions.
3. High claim settlement ratio and simple & fast claim settlement.
4. Covers maternity expenses for female members.
5. Sum assured restoration benefit.

Both life and healthcare insurance premium payments are deductible under old regime of income tax.

PPF, NPS, bank FDs are other investment options.

Best wishes;

Milind Vadjikar |672 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Nov 21, 2024

Question by Varinder - Nov 17, 2024Hindi

Money

With starting salary ?12000 CTC. At 5% increase in contribution annually. What will be way ahead at the time of pension with 15 years of career. and how much pension monthly will I get???

Ans: Hello;

Request you to kindly rephrase your question.

Thanks;

Milind Vadjikar |672 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Nov 21, 2024

Question by kiran - Nov 19, 2024Hindi

Money

I am 41 years old, having FD of 15 lacks , my package is 12L/Annum . Other than this i have polices and no savings. Can anyone suggest retirement plans and savings plan further

Ans: Hello;

You can invest in NPS for your retirement planning.

For your other goals you may invest in different type of mutual funds based on your risk appetite and time horizon.

Never mix insurance (pure protection)with investment.

Happy Investing;
X: @mars_invest

Milind Vadjikar |672 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Nov 21, 2024

Asked by Anonymous - Nov 19, 2024Hindi

Money

I am 39 years working women my current salary is 25k due to multiple unsecured loan trap my emi is reached to 55k per month . Most of the loan 75% emi repayment done but 2 loans emi is very high and remining tenure is almost 1.5 year total outstsnding appx 4.5 lacs really dont know how can i get over from this . Please advice

Ans: Hello;

Sell any gold which you may have and repay the loan. Once the loan burden is over you can buy gold again later.

Check if you can port the loan to another lender with lesser rate of interest.

Borrow from your close relatives/employer, if possible, to get you over the loan and repay it later.

If the recovery agents are harassing you beyond due follow-up then report it to the Police/RBI.

Please be firm and positive to get over this difficult phase.

However if you feel depressed kindly consult a psychiatrist.

Best wishes;

Nayagam P P |3916 Answers |Ask -Follow

Career Counsellor - Answered on Nov 21, 2024

Question by yakub - Nov 21, 2024Hindi

Career

My daughter is in class 12th and preparing for her Jee. What course she should take up which will have great opportunities in future

Ans: Yakub Sir, It would be beneficial to have a conversation with your daughter regarding her interests, strengths, and career aspirations—whether she plans to continue her studies after her BTech or gain experience before pursuing her Masters, either in India or abroad. Certain fields have historically drawn a higher number of female students in India, influenced by societal views, considerations of work-life balance, and available career prospects. Here are a few suggestions: (1) Computer Science Engineering (Core) (2) Computer Science Engineering (Artificial Intelligence & Machine Learning) (3) Computer Science Engineering (Artificial Intelligence & Data Science) (4) Information Technology (5) Electronics and Communication Engineering & (6) Biotechnology / Bioinformatics. Please also make sure that she joins a Colleg where the placements records have been good during the last 3 years. All the BEST for Your Daughter's Prosperous Future, Sir.

To know more on ‘ Careers | Education | Jobs’, ask / follow Us here in RediffGURUS.

Milind Vadjikar |672 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Nov 21, 2024

Asked by Anonymous - Oct 10, 2024Hindi

Money

Hello Mr Shah How worth / meaningful will it be for a 55 yrs person to start investing in NPS. Yearly capability of investment around 3L, with investment horizon of 6-7 yrs. This option I’m weighing against couple of guaranteed return (yearly certain amount of fxd return till life) tax free insurance linked investments. Also let me know what is the minimum number of yrs one has to invest prior to withdrawal and how much max (%) can be withdrawn lump sum. Best! Regards

Ans: Hello;

6-7 year time horizon for NPS may not be optimal.

Also after 60, you may withdraw maximum of 60% of your investment value while the rest 40% has to compulsorily be utilised to buy an annuity.

Happy Investing;

Radheshyam Zanwar |1054 Answers |Ask -Follow

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

Asked by Anonymous - Nov 21, 2024Hindi

Career

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

Samraat Jadhav |2095 Answers |Ask -Follow

Stock Market Expert - Answered on Nov 21, 2024

Question by RAGUL - Nov 17, 2024Hindi

Money

I am a new and first time investor (not a trader) right now I see market correction as a good entry for me and I got fet questions, 1.how long do we foresee this correction to happen (in weeks or months)? 2. Should I take entry in small steps across potential stocks so that I can average out? 3. I think this is the right time for this question - what potential stocks can give me 40 to 50% returns in next 12 to 15 months and 70 to 80% in next 24 months (this is a very optimistic number as I already see some good stocks had come down by 20 to 30%)

Ans: 1) Corrections are always temporary, and the growth is real for long term so now the downside is limited.
2) Yes, if you have Rs. 100 start investing Rs.25 and keep adding 25 in every fall.
3) All Blue Chips and then Mid Cap Companies. (Choose quality always)

Milind Vadjikar |672 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Nov 21, 2024

Asked by Anonymous - Nov 20, 2024Hindi

Money

Hello Sir, I am 55 and plan to retire. I will get 85 lakhs after retirement from provident fund and will get 45k monthly pension which will increase twice with increase of Dearness Allowance as per Central Govt rules. I will also get 9k as rentals. I have no loans and have own house to live. Can I survive with family of three(myself, wife and mother aged 74years)

Ans: Hello;

What is the approx monthly household expenses as on today?

What kind of healthcare benefit will you and your wife get from your employer after retirement?

Do you have a separate healthcare insurance policy for both of you as well as your Mother?

Kindly provide response on the above points so as to recommend suitably.

Thanks;

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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