I have an individual health policy with Nivabupa. The current renewed policy document mentions:

1. Base Sum Insured Rs 5 lakh

2. Loyalty Additions Rs 2 lakh 

3. Next Column Sum Insured (Base Sum Insured + Loyalty Additions + Refill amount ^) (in Rs) 12,00,000

My 2 claims totalling Rs 6.25 lakh for Angiography and Bypass Surgery were settled only for Rs 500,000. 

Is this in line with norms? 

Ans: It sounds like you've had to make some difficult financial decisions due to the challenges posed by the pandemic. Planning for retirement can be daunting, especially when unexpected events like reduced income or unexpected expenses arise. Here is a 10-point checklist you can follow to plan for your retirement given your current situation:

1. Assess your current financial situation: Take stock of all your assets, savings, investments, and any other sources of income. This includes your remaining PF balance, any other retirement accounts, investments, and savings.

2. Estimate your retirement expenses: Calculate your expected expenses during retirement, including housing, healthcare, daily living expenses, and any other costs you anticipate. Be realistic in your estimations.

3. Consider your sources of income: Apart from your PF, consider any other sources of income you may have during retirement, such as pension plans, rental income if you have any other properties, investments, or any other assets.

4. Review your investment strategy: Given your limited time until retirement, it's crucial to ensure that your investments are aligned with your retirement goals and risk tolerance. Consider consulting with a financial advisor who can help you optimise your investment portfolio for retirement.

5. Maximise your savings: Since you have two years until retirement, try to maximise your savings during this time. Cut down on unnecessary expenses and consider additional income streams if possible.

6. Explore retirement options: Look into various retirement options available to you, such as annuities, systematic withdrawal plans, or any retirement benefits you may be eligible for from your employer or government.

7. Consider downsizing: If your current living situation is not financially sustainable during retirement, consider downsizing to a smaller home or relocating to an area with a lower cost of living.

8. Plan for healthcare costs: Healthcare expenses tend to increase during retirement, so make sure you have a plan in place to cover these costs. This may include purchasing health insurance or setting aside funds specifically for medical expenses.

9. Create a contingency plan: Prepare for unexpected events by having a contingency plan in place. This could include building an emergency fund or having insurance coverage for major expenses.

10. Regularly review and adjust your plan: Life circumstances and financial markets can change, so it's essential to regularly review and adjust your retirement plan as needed to ensure you stay on track to meet your goals.

It's understandable to feel concerned about your financial security in retirement, but with careful planning and prudent financial management, you can work towards a comfortable and secure retirement. Consider seeking guidance from a financial advisor who can provide personalised advice based on your specific situation and goals.

Ans: It sounds like you're dealing with a complex situation that's bringing up a lot of emotions for you. It's completely natural to feel uncomfortable or insecure in a situation like this, especially when there are reminders of your partner's past relationship.

First and foremost, communication is key. Talk openly and honestly with your boyfriend about how you're feeling. Let him know that you're struggling with these emotions and that you want to find a solution together. It's important for him to understand where you're coming from and to be supportive of your feelings.

Additionally, try to focus on building trust and strengthening your relationship with your boyfriend. Remind yourself of the reasons why you love him and the bond that you share. Trust that he's committed to you and that his past relationship is just that – in the past.

It's also worth considering setting boundaries with your boyfriend's sister-in-law, particularly when it comes to sharing information about your household or your relationship with his ex. Let her know that while you appreciate her relationship with your boyfriend and her niece, you would prefer to keep certain aspects of your personal life private.

Remember, it's okay to feel the way you do, but it's important to address these feelings constructively and work towards a resolution that allows you to feel comfortable and secure in your relationship.

Ans: Yes

In case of gift, period of holding of previous owner will be added

Ans: Yes shifting from one fund to another will be considered as transfer

Ans: Please refer to tax rate available at following link as scheme opted and age (under category MISC)

https://incometaxindia.gov.in/Pages/charts-and-tables.aspx

Ans: You are required to file Form 26QB as challan cum statement, separately for each resident owner, within 30 days of end of the month in which TDS @1%

Ans: Tax on Long term capital gain of property is taxable @20% plus applicable taxes as per current provision of income tax

Ans: Investments are required to be disclosed as personal asset in ITR, in case total income is more than 50 lacs

Ans: I understand that your wife is eligible for presumptive taxation u/s 44ADA and ITR 4 can be filed for the same