Updated By: Charmey Shah

May not necessarily Higher Savings Rate be a good thing – Saving more: An research by RBI showed that a level last seen in 2017-18 about India's net financial assets of 7.7 per cent of the GDP as again seen in FY20. The net fi...

Updated By: Charmey Shah

Over the Covid-19 crisis Smart money management tips The Covid-19 pandemic across the globe has not just scarce millions of lives, but at same time has also started to disrupt the global economy. Many people have lost their jobs or sources of income, and others have been...

Updated By: Expertmile Admin

What are the cases where PAN is to be quoted in transactions? Under the below transactions a person needs to quote his/ her PAN: S. no Nature of Transaction...

Updated By: MANISH TERVANKAR

How is the Loan on Policy calculated under Conventional Life Insurance Policies? If the policy conditions permit grant of loan, loan is sanctioned as a percentage of the Surrender Value

Updated By: MANISH TERVANKAR

How is Surrender Value calculated in Conventional Life Insurance Policy? Surrender Value is allowed as a percentage of this paid up value.  Surrender value is calculated as per the surrender value factor, which depends on the premiums paid and elapsed duration.

Updated By: MANISH TERVANKAR

What is meant by Paid-up Value in Conventional Life Insurance Policy? After premiums are paid for a certain defined period or beyond and if subsequent premiums are not paid, the sum assured is reduced to a proportionate sum, which bears the same ratio to the full sum assu...

Updated By: MANISH TERVANKAR

What are special medical reports required to be submitted in Life insurance? In case of certain proposals, depending upon the age of entry, age at maturity, sum assured, family history and personal history, special medical reports may be necessary for consideration of a r...

Updated By: MANISH TERVANKAR

What are the tax benefits I get if I opt for Health Insurance? Health insurance comes with attractive tax benefits as an added incentive. There is an exclusive section of the Income Tax Act which provides tax benefits for health insurance, which is Section 80D, and which...

Updated By: MANISH TERVANKAR

What kinds of Health Insurance plans are available? Health insurance policies are available from a sum insured of Rs 5000 in micro-insurance policies to even a sum insured of Rs 50 lakhs or more in certain critical illness plans. Most insurers offer policies between 1 lak...

Updated By: Expertmile Admin

Are Government or local authority or governmental authority liable to pay tax(GST)? Answer Yes. The Government or a local authority or a governmental authority is liable to pay tax on supply of services other than the services notified as exempt or notified as neither a supply of...