I am an employee of central govt. PSU. My family consists of myself, spouse, two minor children and mother. I am covered by a corporate group medical insurance policy for Rs 2 lakh with an additional emergency coverage of Rs 4 lakh by the employer.

I also have a personal Family Floater policy for Rs 3 lakh and a Sr. Ctzn. Policy for Rs 1 lakh.

I have not used the personal policies till date for any hospitalisation claim.

I am aware that a claim exceeding the corporate policy limit can be claimed in the personal policy. Recently I was made to know that any planned hospitalisation exceeding the corporate claim limit, cannot be done using the second policy.

I also know that there is a product called as top up policy which can be used in such cases.

I have 8 years of remaining service where there is a medical insurance cover during the period.

After retirement, the employer provides a basic policy of 1.5 lakh for the family. The same feels to be insufficient in today’s times.

What would be your advice with regards to the existing medical insurance policies and their amounts? Should I need to undertake any tweaking of the policy amounts or switch to a top up policy?

Ans: Your diligence towards prepaying your home loan is commendable. It's a significant step towards reducing your debt burden and achieving financial freedom. However, it's essential to strike a balance between debt reduction and investment for future goals. Have you considered the potential returns you could earn by investing in the market compared to the interest saved by prepaying the loan?

A Certified Financial Planner often suggests evaluating the interest rate on your loan against expected market returns. Sometimes, investing in the market can offer higher potential returns, especially over the long term.

While reducing debt is crucial, investing also plays a pivotal role in wealth creation. It's like nurturing a tree; while pruning is essential, so is watering and providing it with the right environment to grow.

Considering your age and income, diversifying your approach by balancing loan prepayment with market investments might be worth considering. It's about optimizing your financial resources to align with both short-term and long-term goals.

Ans: It's wonderful to hear that you're considering investing for the long term. Investing with a horizon of over five years can offer the potential for growth while allowing your investments time to ride out market ups and downs. Have you thought about your risk tolerance and how comfortable you are with market fluctuations over this period?

A Certified Financial Planner would typically recommend a diversified approach to capture growth opportunities across different sectors and market caps. This can help spread the risk and potentially enhance returns over the long run.

Remember, investing is a journey, not a sprint. It's about patience, consistency, and making informed choices. As you embark on this journey, it's essential to stay updated, periodically review your investments, and make adjustments as needed.

May your investment journey be rewarding, both financially and in the wisdom it brings.

Ans: Hello,

To begin with, thank you for contacting us. I am glad to hear that your son is currently pursuing his Bachelor of Physiotherapy and further intends pursuing his post-graduation in the USA or some other country. To answer your question first, I would like to let you know that pursuing physiotherapy is a fulfilling career, and opting for PG studies overseas can present outstanding chances for development and specialization. Concerning your query regarding the procedure for admission and future employment possibilities for your son in the USA or another country, I would suggest that you consider the following:

As part of the admission procedure, your son should first conduct a comprehensive study on postgraduate programs in physiotherapy or associated fields both in the USA or other countries. He should look for universities with a solid standing in his field of expertise. Next, remember that the admission prerequisites for each university is unique. These generally entail submitting academic marksheets, scores of standardized tests viz., the GMAT or GRE, a personal statement or statement of purpose (SOP), endorsement letters, and at times, professional experience. Your son may be required to prove his fluency in English through appearing for tests viz., the IELTS or TOEFL, if he's a non-native English speaker. According to the particular guidelines set by each university, your son will then need to submit his application via mail or through the university's online portal. If your son is accepted, as the next step, he will need to apply for a student visa. Remember that based on the country he wishes to study in, this procedure can differ. Nevertheless, I would like to tell you that guidance for the same can be provided by the university's international student office. Lastly, make sure your son is aware of the costs associated with attending, viz., tuition fees, costs of living, and any scholarships or financial aid that may be applicable.

Concerning your query regarding employment opportunities post-graduation, I would like to tell you that your son, upon completing his studies in the USA, may qualify for Optional Practical Training (OPT), which permits international students to work for up to one year following graduation in their area of expertise. Nevertheless, an extension of up to 36 months is available for OPT in some STEM (Science, Technology, Engineering, and Mathematics) programs. Your son should think about applying for an H-1B visa if he intends working in the USA beyond OPT. This visa enables U.S. firms to temporarily employ foreign workers in specialty vocations. However, owing to yearly quotas, acquiring an H-1B visa might be challenging. Next, if your son intends studying in another country, I would like to tell you that he should look into the employment opportunities post-graduation that are available there. Remember that international students are offered post-study work visas or pathways to permanent residency by several nations. I would like to let you know that each country has different laws governing the practice of physiotherapy. To practice as a physiotherapist in a new country, your son may be required to take licensing examinations or further training. I would recommend that your son networks with industry professionals and looks for internship possibilities while he is studying. Remember that developing relationships and obtaining hands-on experience can improve your son’s career opportunities after graduating.

By adhering to these steps and taking into account the particular prerequisites and prospects in the destination of his choice, your son can pursue his postgraduate studies overseas and possibly start a fulfilling career in physiotherapy.

For more information, you can visit our website.

Ans: It sounds like you're diligently planning for your future, which is commendable. At 43, aiming for a substantial corpus by 60 is a thoughtful goal. Your current investments show a balanced approach towards growth, which is a positive sign.

Considering your EMI commitments and impending expenses for your son's education, it's essential to assess the balance between your investments and financial responsibilities. Have you factored in inflation and potential market fluctuations in your projections? Remember, life is unpredictable, and plans may need adjustments along the way.

Your SIPs are a good start, but it might be worth reassessing the allocation to ensure it aligns with your long-term goals and risk appetite. A Certified Financial Planner would advise periodic reviews and adjustments to stay on track.

Given the upcoming educational expenses, perhaps revisiting your monthly allocations and exploring options to optimize your portfolio could be beneficial. It's all about striking the right balance between present commitments and future aspirations.

Ans: Partha,

Firstly, I truly understand the weight of the burden you're carrying with those EMIs. It's a challenging phase to constantly manage multiple debts. It's commendable that you're considering taking a step towards managing it better.

When faced with such a decision, it's essential to ask yourself what brings you peace of mind and long-term stability. Clearing off existing loans can offer a sense of relief, freeing you from the constant worry of repayments. Imagine the freedom from monthly obligations; isn't that a tempting thought?

On the other hand, investing in expanding your home sounds like a dream many of us have. It's not just about adding another floor; it's about creating more space for memories, growth, and family gatherings. But here's a thought - will this new construction enhance your quality of life significantly? And will it bring you closer to your long-term goals?

As a Certified Financial Planner, my suggestion would be to prioritize your financial freedom first. Once you clear those debts, you'll find it easier to focus on building a secure future. Remember, financial stability often brings along peace of mind and the freedom to dream bigger.

Take your time, weigh your options, and make a decision that aligns with your peace and future aspirations.

Ans: Dear Navin,
What exactly is your issue here? How do you want me to guide you?
I can only assume that you are unhappy that your wife does not share much with you. Maybe because she finds it safe and comforting sharing with her side of the family?
Have a frank chat without complaining but hearing her as to what bothers you...that might help you understand her better.

All the best!

Ans: Dear Anonymous,
Let's put it all in one form...
1. You married a man who has a drinking problem
2. You feel sex is painful and believe that it is
3. You wonder if having sex can solve all your problems
4. You want to know if basic care and affection can override sex
Who is at fault must not be your question but rather ask what can be done here to rebuild the marriage?
Firstly, if you husband has a drinking issue, why has this not been treated? Instead the focus is on sex and no sex...
Sure, sex is a part of any marriage and it certainly can help couples bond together in a better way. But is it the only thing to save a marriage? NO!
But it's possible that sex may help your husband communicate better with you at an emotional level as well. You see, physical and emotional bonding go hand in hand. And wherever you got the idea that sex is painful needs to worked upon. Honestly, you are missing out on a beautiful element within marriage.
Kindly seek professional help for yourself on this, your husband for his drinking issue and it will help going for couples therapy. Do what needs to be done to put your marriage back together. Long journey, if you feel this can actually help and that you want that help...

All the best!

Ans: It is due to immune response targeting the insulin producing cells in the pancreas. As a result, insulin production goes down drastically or even stops. It can happen post a viral infection when the body starts producing antibodies that Target it's own tissues. There is no prevention as such as it isn't diet or lifestyle related.

Ans: Hello Lomina,

First and foremost, thank you for getting in touch with us. I am happy to hear that your brother is currently pursuing his Bachelor of Pharmacy (B.Pharm) and will graduate next year. To answer your question first, I would like to tell you that based on his interests and professional objectives, there are many career paths that your brother can pursue once he completes his degree. I would recommend that you consider the following:

Your brother can consider working as a pharmacist in retail pharmacies, hospitals, or community pharmacies. Remember that this is the most typical employment route for graduates of B.Pharm. Pharmacists provide medications, advise patients on how to take them safely, and other health-related services. If your brother possesses strong writing abilities, working as a medical writer, crafting content for regulatory bodies, pharmaceutical companies, or healthcare organizations, is one of the other jobs that he could choose from. Documents including clinical trial reports, regulatory filings, and instructional materials are created by medical writers. Your brother may choose to work as a hospital administrator, wherein he would be responsible for controlling pharmaceutical services in healthcare facilities, in turn, guaranteeing effective medication administration, and monitoring drug delivery networks. Another career path for your brother includes taking up a job as a clinical research associate (CRA) or working in other research-related roles in research institutions or pharmaceutical companies. Remember that in order to make sure new medications are safe and effective for use, this entails conducting trials to test them. He can also choose to work in drug safety and pharmacovigilance, checking if the medications sold are safe, looking into unfavorable incidents, and making sure safety rules are followed. Your brother can also take up a job in regulatory affairs, making sure that pharmaceutical items adhere to rules and norms established by regulatory bodies. This entails creating and submitting regulatory paperwork, verifying regulatory compliance, and coordinating with regulatory authorities. Your brother can also choose to work in quality control or quality assurance positions in pharmaceutical companies, making sure that products adhere to regulations and standards of quality. In addition to the above, I would like to let you know that your brother can also pursue further education, viz., a Master's degree (M.Pharm) or a Ph.D. in pharmaceutical sciences or associated disciplines. Remember that pursuing higher studies can lead to possibilities for teaching, research, or advanced roles in areas viz., pharmaceutics, pharmacognosy, medicinal chemistry, or pharmacology.

When choosing which career path to opt for upon finishing his Bachelor of Pharmacy (B.Pharm) degree, I would suggest that your brother takes into account his abilities, interests, and professional objectives. Lastly, I would like to say that acquiring practical experience through internships or entry-level work may prove beneficial, as this will allow your brother to investigate other career paths and learn valuable skills in the sector.

For more information, you can visit our website.