HOME INSURANCE

The Life Insurance Rule: How much money will your family need if your income stops?

Life insurance rule: A common rule of thumb for life insurance coverage is to have a life insurance policy that is at least 10 times your current income. This coverage should take into account any outstanding debts and loans you have. By following this rule, you can estimate the income your family would need to maintain their standard of living if you were to pass away.

Now, customise motor, home insurance policies: Irdai

The IRDAI master circular, which repeals all earlier circulars and guidelines, was released on 11 June 2024 and suggests providing wider choice and options to customers. It follows a master circular on health insurance released on 29 May.

Empowering women with financial planning: Term insurance as a safety net

Women often overlook self-care while balancing caregiving and financial roles. Recognizing the importance of insurance coverage for financial stability is crucial for long-term resilience.

Taking a home loan? 5 ways you can reduce cost of borrowing and save money

The longer the tenure of a loan, the higher the interest burden. Home loan rates will not come down as the RBI has kept policy rates unchanged. If you are planning to buy a house with a loan, ET Wealth suggests some ways to reduce the cost of borrowing.

Should you buy a house now or rent it? Key factors that will help you to decide

While property market dynamics play a big role in effecting this decision, equally important is your personal financial situation and lifestage. There are other factors to consider. If you are thinking of buying a house, here the key things you need to check.

ITR filing: Compare your tax outgo in old and new tax regime before finalising one for FY24

Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments. TaxSpanner estimates that Vivek Jaiswal can have a surplus of almost Rs.60,000 if his salary is rejigged to include tax-free perks and if he opts for the new tax regime. Here's how

High FD interest rates may not last long despite RBI status quo; is this the last window to book fixed deposits at higher rates?

FD Interest Rates: RBI in its MPC meeting on June 7 kept the repo rate unchanged at 6.5%. This marks the eighth consecutive MPC with status quo, benefiting fixed deposit investors with high rates. However, going forward the interest rate cycle to reverse. The potential for a rate cut later in the year is anticipated.

Home loan borrowers may have to wait longer for lower EMIs but a rate cut likely this year; how to make the most of it

Home Loan Interest Rates: The Reserve Bank of India (RBI) in its recent Monetary Policy Committee meeting decided to maintain the repo rate at 6.5%, prolonging the wait for home loan borrowers seeking relief from high interest rates and increased EMIs. Despite the current pause in repo rate the possibility of a rate reduction this year is still there.

These midcap stocks with ‘strong buy’ & ‘buy’ recos can rally over 25%, according to analysts

One segment of the markets which was most vulnerable to election results was the mid-cap segment of the market for one simple reason, valuations have been on the higher end. Now that a part of the election anxiety is behind as a new government gets formed. Once again the focus is back on the mid-cap. There are selected stocks from different sectors where analysts are bullish in time where there is rotational trade likely to take place in the next couple of months. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.

Hot Stocks: CLSA lists stocks that could benefit from the 100-day plan for Modi 3.0

Global brokerage CLSA lists out stocks such as L&T, IRB, and NCC, among others that can benefit from Modi 3.0's 100-day plan, while Goldman Sachs is positive on private banks, Jefferies prefers Aavas Financiers, Can Fin Homes as top housing finance companies and Morgan Stanley are overweight on HDFC Life.

Which city in India has the highest rental yield

Net rental yield: If, however, you subtract maintenance expenses, property taxes, home insurance premium, etc, it will give you net rental yield. This gives a more realistic idea of the return you can expect from your property.

Stock brokers push lending; InsuranceDekho’s latest acquisition

Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.

How NRIs can extract maximum value from voluntary deductible in their health insurance

Indian software engineer Ravi moved to the US for a career opportunity but overlooked his health insurance policy in India. After realizing the importance of coverage during visits, he reinstated his Indian policy for financial security and peace of mind.

Jio Financial Services launches app to take on its fintech rivals

Jio Finance will offer UPI payments, bill payments, insurance advisory and digital banking. Eventually Jio Financial Services will offer credit products like loans against mutual funds, home loans and others to its customers through the app.

Reliance General Insurance's new accident policy covers EMI, loan liabilities

Reliance General Insurance has introduced a new accident policy, Reliance Personal Accident 360Shield, offering coverage for an individual's financial liabilities, hospitalisation expenses, and aftercare needs in case of an incident. The policy aims to provide 360-degree protection to individuals and families from the impact of personal accidents. The policy includes legal assistance and worldwide coverage.

Empowering senior citizens: The crucial role of health insurance in India

Recent IRDAI regulations in India aim to empower senior citizens through accessible health insurance options, including coverage for Ayush treatments, aggregate deductibles for cost-sharing, and comprehensive rider packages for additional benefits. Assessing needs and selecting the right plan are essential for personalized and comprehensive health coverage.

Does the new income tax regime suit you? Find out who should move from the old tax regime to the new one

With the start of the new financial year, companies are reaching out to their employees to select the tax regime for 2024-25. This is an important decision because you can do it only once in a financial year. Once you make a choice, your income will be taxed as per the tax structure of that regime

Tax-saving ideas: 3 ways your spouse can help you save tax

Navigating travel insurance for parents visiting the USA from India

Travel insurance is crucial for parents visiting the USA from India due to expensive healthcare. OnshoreKare is a US-based insurance provider offering comprehensive plans with coverage for pre-existing conditions and access to PPO network and local insurance provider helplines.

After death of home loan borrower, husband fights for 13 years for life insurance claim against SBI Life Insurance and wins

State Bank of India (SBI) Life Insurance was ordered to pay the full amount of insurance claim to settle the housing loan taken by the deceased policyholder policyholder from SBI. The home loan's sanctioned amount was Rs 9 lakh and the deceased policyholder specifically paid an additional money of Rs 63, 445 for this insurance policy.

Home loan, insurance business drag Sachin Bansal’s Navi into slow lane

Sachin Bansal-led Navi Finserv may have to rethink processes and get people on the ground, say experts. The company wanted to scale up its home loan disbursal to Rs 200 crore a month, back in 2022, but that growth has been elusive.

Chennai Floods: Lessons from a natural calamity

Insurance lessons are learnt and lost quickly. Many view insurance as a payment that offers no benefit. No one seemed to have comprehensive insurance for their cars, homes and durables. Many admitted to buying insurance after the 2015 floods and discontinuing the premium later as wasteful.

What a home insurance policy will not cover

A home insurance policy will not pay in certain situations. Know about the exclusions of such plans.