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Sanjib

Sanjib Jha  | Answer  |Ask -

Insurance Expert - Answered on May 10, 2023

Sanjib Jha is the CEO of Coverfox Insurance. His expertise includes health and auto insurance. He has over 22 years of experience in the financial sector. He has completed his post-graduation from the Institute of Company Secretaries of India.... more
Premnawaz Question by Premnawaz on May 05, 2023Hindi
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Money

My married sister expired on road accident with family members,can my parents claim her PF and insurance amount

Ans: Hi Prem, sorry to hear about your loss. In this case, if your sister has put your parents as nominees on her PF and insurance policy document, then we can raise a claim request. Please check the nominee details.
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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Soft Skills Trainer - Answered on Mar 21, 2024

Asked by Anonymous - Feb 21, 2024Hindi
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I am planning to relocate my super senior citizen parents with memory loss to a old age home since both my spouse and me are working and unable to look after them 24x7 in my small house. My parents have their own independent house (far from my home and workplace) but are unwilling to engage a full time maidservant for their routine day to day help. My sister who resides in another state is unwilling to look after them. I will retire in 4 years time following which I can accommodate them with me. Can my sister create trouble lodge a police complaint or take legal proceedings against me for shifting my parents to old age home, during these 4 years? Kindly advise.
Ans: The situation you describe is definitely not normal, having said so it's a part of the aging process and will happen to one and all in different degree's .

Points to Ponder :

1. Should you shift your parent's to a home for the aged... Are you ready for the health and infection consequences !?
2. Old Age Homes charge substantial deposits and monthly payments too.. Are you ready with the financials.
3.They apparently don't need a maid servant,they need love and attention.
In the circumstances, you can consider hiring a qualified nurse or a medical social worker.. Which would also be a additional cost!?
4.I believe you are not willing to accommodate them now.. You need to find alternatives!?
5.If the shifting to an old age home has their consent, then legal procedures will be covered... Having said so, consider the pros and cons listed above.

Thought!

Imagine if you were left in a boarding when you were young.. As your parents had their priorities.. Decide!?

It's you for them Now... Not 4 year's later!
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Ravi

Ravi Mittal  |169 Answers  |Ask -

Dating, Relationships Expert - Answered on Apr 18, 2024

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My boyfriend tells about us to his parents his parents rejected our relationship due to intercaste and they also stop talking to him it's been 4 months his mother don't talk to him .He is in navy . And they also started searching girl for him . He want to maintain distance from me he is not happy he is stressed as his own parents are not talking to him And also maintaining distance to me he talks to me me but just because I can't live without him but he changes in behaviour what to do
Ans: Dear Shruti,

I am sorry that you are in this situation. First of all, please try to look at it from your partner's perspective. It isn't easy to confront your parents and it's even harder when they stop communicating altogether. Having said that, I also understand how it is for you. It is not fair, especially in today's day and age, to face discrimination based on caste.

You have two options:
One, you wait patiently, emotionally support your boyfriend, and hope that his parents come to their senses and realize that we are living in 2024, and caste-based discrimination is ridiculous. In this scenario, you do have to let go of your self-respect and have to face many more hardships, that much is guaranteed.

The second option is you hold your head high and move on. Yes, it isn't what you hoped for when you emotionally invested in building this relationship, but unfortunately, these things are still happening. In this scenario, you will be sad for a long time, but you don't have to compromise on your self-respect and you will move on and live to see happier days with someone who respects you and sees you for who you are and not your caste.

Now, the choice is yours.

Best Wishes!
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Ramalingam

Ramalingam Kalirajan  |606 Answers  |Ask -

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

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Hi sir, i have total 10k for investment of which I'm currently investing 7000rs in icici prudential nifty 50 index fund for 15-20 years, and ready to put 2000 rs for investment.My goals is to earn a cagr of more than 15 percent with 10 k for 15-20 years with little risk. Also suggest some term insurance without good claim settlement ratio and coverage upto 1cr
Ans: Hello,

Given your investment amount and goals, here are some suggestions:

Investment Strategy:

Additional SIP:
Invest the additional ?2,000 in a diversified equity mutual fund to balance your portfolio.
Choose a fund with a track record of consistent performance and a lower expense ratio.
Goal of 15% CAGR:
While aiming for a CAGR of 15% is ambitious, it's crucial to understand that higher returns generally come with higher risks.
Opt for a combination of equity and debt funds to balance risk and return.
Consider small-cap or mid-cap funds for higher growth potential, but be prepared for increased volatility.
Term Insurance:

Coverage of ?1 Crore:
You can consider term insurance plans from reputable insurers that offer coverage up to ?1 crore.
Compare premium rates, features, and claim settlement ratios before choosing a plan.
Claim Settlement Ratio:
Look for insurers with a high claim settlement ratio, indicating their reliability in settling claims.
Avoid insurers with a history of low claim settlement ratios or negative reviews.
Remember, while aiming for higher returns, it's essential to assess your risk tolerance and invest accordingly. Diversify your investments across asset classes and regularly review your portfolio to ensure it aligns with your financial goals and risk profile.

Consult a Certified Financial Planner for personalized advice tailored to your needs and financial situation.
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