Tarundeep Singh, Author at Invest Market

Best Short Term Investments Plans With High Returns

October 24, 2020 Tarundeep Singh No Comments

Short-term investment plans are one of the highly liquid investment options in which investors invest some money for a short period of time normally ranging from 3 to 12 months or more than that. These short term investment plans are beneficial for fulfilling the basic requirements of life such as safety of capital and returns, and quick wealth creation. When it comes to best and popular short-term investments that are high-return savings accounts, debt funds, term deposits, money market accounts, treasury bills, and government bonds.

Benefits of Short-Term Investments

There are so many benefits of short term investment as they provide good returns in a relatively shorter span of time that ranges from a few months to a year. Moreover, these options are great because they fulfill financial objectives in the upcoming future. In addition, these kinds of best short term investments offer high flexibility to the investors as they curb the need to wait for the investment maturity to convert it into cash.

Apart from this, short-term investment has very limited risks just because of shorter maturity periods. Thus, short-term investment options provide good returns with high liquidity and low.

Best Short-Term Investments with High Returns

Investment Plan	Rate Of Interest (%)	Tenure
Debt Funds	Up to 10.50	90 days to 3 years
Large Cap Mutual Funds	3.5 – 7	–
Recurring Deposits	5 – 8	6 months to 10 years
Bank Fixed Deposits	Average 7.80	91 days to 1 year
Treasury Securities	3.50 – 8.05	7 days to 10 years
Post Office Time Deposits	8 – 13	3 to 5 years
National Savings Certificate (NSC)	5.50 – 6.70	1 to 5 years
Savings Account	6.8	5 years

1. Debt Mutual Funds

Debt Funds are those type of mutual funds which basically invest in debt and money market securities. The best thing about debt mutual funds is these funds are one of the safest among all types of mutual funds. Therefore, they are ideal for risk-averse investors seeking good returns over short periods of time.

Have a look at three major categories of Debt funds based on tenure:

Liquid Funds– it has a maturity period of up to 91 days.
Low Duration Funds– duration between 6 to 12 months.
Ultra Short Duration Funds– Duration between 3 to 6 months

2. Large Cap Mutual Funds

Large-cap mutual funds choose stocks from the largest 100 stocks listed in the Indian markets. Moreover, large stocks are very risky whereas smaller stocks may have a higher expectancy to grow. Thus, these kinds of funds are considered excellent for quick investments and also having smart returns over a period of 3 to 5 years.

Apart from this, large-cap funds have the capability of offering 8% to 13% returns which is quite good as compared to the returns offered by other short-term investment options.

3. Recurring Deposits

Recurring deposits allow you to pay monthly deposits, unlike fixed deposits in which one has to make predefined payment. If we talk about the benefits of recurring deposits, it offers you three major benefits i.e. flexibility, liquidity, and Guaranteed Returns. However, the companies constantly change the Interest rates on RD from time to time. So investors can earn around 5% to 7% interest rates on RD accounts depends upon bank to bank

Tenure– Minimum for 6 months and a maximum of up to 10 years.
Liquidity– It comes with a minimum lock-in period of one month. No interest is paid to the depositor.
Returns– Currently, for the tenure of 12 months and more, the interest rate is 6.5% per annum. It will be applicable as on the date of the first deposition.
Taxation– In these best short term investments, the TDS is deducted in case the interest earned is more than Rs.10, 000.

4. Bank Fixed Deposits

Fixed deposits are one of the common investment that most of the people does.

Its tenure ranging from 7 days to 10 years. These are the most basic financial instruments provided by every bank either private or public. On the other hand, recurring deposits and fixed deposits are the best options and suitable for investors who have limited funds and want to save their money in a safe investment option. In addition, a fixed deposit provides a higher rate of interest than a regular savings account.

If we talk about the interest rate of fixed Deposit that varies from 3.5% to 9.20% per annum according to the bank, age of the investor, and the tenure that one invests for.

5. Treasury Securities

Treasury Bills are legal securities that come under government and offer high liquidity and safety of funds with a great rate of returns. Although the returns offered by treasury bills are generally lower than debt funds because they are considered as one of the good options to invest your money in a safe pool. When it comes to the maturity period of T-bills, it can go up to 1 year. And the rule of thumb reveals that the shorter the maturity period, the lower the return that you get.

6. Post-Office Time Deposits

Post-Office Time Deposits (POTD) is the most preferred choice of short-term investment scheme started by India Post. This investment plan is very popular in rural and other remote areas of India. The postal savings system offers a tenure period of 1 year, 2 years, 3 years, and 5 years.

In addition, Post Office Time Deposit is almost similar to a fixed deposit. Children whose age is above 10 years can also get their accounts opened and invest in the POTD Investment scheme. Apart from this, if you choose 5 years of Time deposit, you will get tax benefits under Section 80C of the IT Act, 1961. In this investment scheme, the interest rates range from 5.50 – 6.70%.

7. National Savings Certificate (NSC)

NSC is a tax-saving and best short term investments which you can purchase from any post office in India. In addition, this scheme provides fixed returns. Being formulated by the government, it carries a low risk that’s why it is usually preferred by investors who can’t take risks in their investment or the ones willing to diversify their investments through fixed return instruments.

Interest rates for National Savings Certificate have changed according to the different time periods as per the decisions taken by the Finance Ministry. The applicable NSC interest rate for Q1 FY 2020-21 (April to June) is 6.8% for 5 years NSC. The best thing about this type of investment, If you invest in the 5 year National Savings Certificate, you can also get tax benefits under Section 80C of the IT Act. However, the interest income will be taxable.

8. Savings Accounts

As we all know savings account is one of the most popular and preferred choices of people for investment as it is also a short term investment. If you have any deposit account in a bank, You can keep extra cash, earn interest on the investment, and withdraw it whenever required. It is famous for providing maximum liquidity as the subscribers can withdraw their amount anytime the investor want

The average interest rate on saving accounts ranges from 3.5% to 7% varying from one bank to another bank. You can get a lot of benefits If you deposit a lot of money in a saving account. So There are no limits on the deposit amount. In addition, most of the banks provide zero balance saving Account which means that you do not need to maintain any minimum balance to keep your account active.

Things to be considered while investing

Check the important factors that you must consider while selecting the best short term investments option with high return, risk appetite, and liquidity requirement:

Liquidity: The major benefit of short-term investments is high liquidity i.e. you can easily convert them into cash with minimal loss in the amount you have invested
Risk: All of the short-term investments carry a relatively lower risk component as compared to their long-term counterparts due to the short maturity period.
Tax Efficiency: Gains from short-term investments are taxable as per the Short-Term Capital Gains Tax (STCG). Therefore, the tax efficiency of the investment option is another factor that every investor must consider before choosing the right short-term investment option for himself/herself.

Best Short Term Investment Options – Highlights

Short turnaround time
Optimum returns for less investment
Lesser investment amount
High liquidity
Low risk

Wrapping it up!

Now you don’t need to think any more like what, where, and how much you should invest. But if you really want to invest your money in the best short term investments in India, then have a look at the above-mentioned investment options that could be the best option for you to stop-think-invest.

Insurance Policy

17 Myths on COVID-19 That You Should Stop Believing

September 23, 2020 Tarundeep Singh No Comments

There are several myths on COVID-19 that are constantly spreading amongst the masses. These kinds of rumors are very crucial which one should not spread among others as they can harm someone. To clear all the thoughts that come in our mind, here is a list of 17 myths on COVID-19 that you should stop believing.

#1. Coronavirus Won’t Survive in Hot Weather

As you know COVID-19 has spread across the whole world, either the country is hot or humid, like UAE and Qatar. By observing these kinds of things, we can understand the fact that coronavirus can spread in all kinds of weather either it is a hot and cold climate. The most important thing is that people living in such areas need to take safety precautions to stay safe from COVID-19.

#2. Eating Pepper or Garlic Can Protect from COVID-19

I have seen many people believe in eating some sort of seeds to prevent COVID-19. But basically those are all myths on COVID-19 as foods like sesame seeds, garlic, pepper, and are very prominent for several health benefits. No doubt such kind of food can boost your immunity and keep you healthy and fit but truly it cannot save you from coronavirus.

#3. Only Aged People Can Get Coronavirus

I have heard many rumors from many people that COVID-19 can only affect old people but not young people. It’s one of the popular myths on COVID-19 that people believe. But that’s truly wrong and there is nothing like that. People of all ages, including children, have been tested COVID positive. However, aged people and people with comorbidities are having more chances to get seriously ill due to coronavirus. Thus, they should think about themselves and should be covered under corona insurance.

#4. Eating Non-Veg Can Lead to COVID-19

Let me clear the most important thing that people often talk about i.e. meat. Many people say that eating nonveg can lead to coronavirus. But there is no evidence till now that depicts that person who eats meat or non-veg food can get coronavirus. So these are just myths on COVID-19 that no one should believe. But yes you just need to ensure that the meat you consume should be properly cleaned and cooked well.

#5. If You Get Coronavirus, You Will Die

Till now the death rate in India due to coronavirus is very less. Most people who were positive with coronavirus are now recovered from the COVID-19 disease by taking proper medical treatment on time. But the most crucial thing is to take medical attention as soon as you observe COVID-19 symptoms. And don’t worry about the medical expenses because it will be covered under your coronavirus health insurance policy. So forget about medical expenses and get proper corona health coverage.

#6. COVID-19 Infects You for Whole Life

There are many people who got caught by a coronavirus and out of them, most have been cured completely. Moreover, COVID-19 have also freed their bodies of the virus. Therefore, you should not believe in non-sense beliefs that if you contract coronavirus, it will stay in your body all your life.

#7. Mosquitoes or Houseflies Can Spread Coronavirus

Till now, no one has found any evidence that houseflies or mosquitoes can spread coronavirus among humans. As we all know COVID-19 is a respiratory disease that can only spread if the droplets of a COVID patient come in contact with a healthy person. But if we talk about Mosquitoes, they can only infect you with diseases, like dengue and malaria, which can eventually weaken your immunity but it cannot lead to COVID-19.

#8. UV Rays Can Kill Coronavirus

Ultraviolet rays through lamps cannot kill coronavirus. As we use UV rays on skin, it can destroy your skin. On the other hand, UV rays can damage your eyes and cause skin irritation. So I don’t recommend anyone to use UV rays on their body as it can lead to many health problems. Hence, you must not use UV lamps on your skin.

#9. Hot Bath Can Kill Coronavirus

The person who is positive with corona, taking shower with hot water cannot kill coronavirus in your body. It does not matter what the temperature is too hot outside but body temperature remains the same either the outer temperature is hot or cold. Therefore, a hot bath is not going to make any difference to the coronavirus that has already entered your body.

#10. Alcohol Consumption Can Protect You from COVID-19

According to the World health organization (WHO), there is no proof which stated that drinking alcohol can protect you from Coronavirus. But on the other hand, if you drink too much alcohol just to protect yourself from covid-19, it can lead to multiple health problems that can delay your recovery if you are suffering from coronavirus disease. In order to manage all kinds of medical expenses, it is the best idea to get yourself covered under a corona insurance policy.

#11. Pneumonia Vaccine Can Cure COVID-19

People often talk about the Pneumonia vaccine that can save you from covid-19 disease but pneumonia vaccine can only cure pneumonia infection. Moreover, there is no evidence yet of this vaccine that it can work to protect against coronavirus.

#12. Holding Breath for 10 Seconds Without Difficulty Means You Cannot Get COVID-19

If you can hold your breath at least for 10 seconds or more without facing any discomfort, it does not mean that you are immune to coronavirus. There is only a single way to know if you have COVID-19 or not i.e. by getting yourself tested for the covid-19 disease. The expenses of covid-19 testing can be covered under your corona insurance policy so you don’t need to worry about medical expenses.

#13. Pets Spread Coronavirus

According to the Centers for Disease Control and Prevention, they don’t have any evidence that proves that pets spread coronavirus. Thus, you should not blame your pet. However, just wash your hands properly after you touch your pet that’s all you need to do.

#14. Antibiotics Can Fight Against Coronavirus

There are multifarious facts that are scientifically proved, scientists have also proved that antibiotics can fight against bacteria but not viruses. Thus, antibiotics will not treat coronavirus. But antibiotics can be used to fight against co-bacterial infection along with COVID-19. Make sure to have a corona policy that covers your medical bills.

#15. Consuming Ethanol, Methanol, or Bleach Can Kill Coronavirus

As we all know ethanol, methanol and bleach are very dangerous and harmful for our body’s internal organs. If you consume these harmful products, it can lead to any disability or death. Thus, you should never consider drinking any harmful or dangerous liquids products. Stop believing such kind of myths on COVID-19.

#16. 5G Mobile Network Can Spread Coronavirus

That is a seriously false statement. Coronavirus is a disease and it cannot travel on mobile networks or any radio waves. Coronavirus disease can spread only through respiratory droplets of a COVID positive person while sneezing, coughing, or speaking.

#17. Some Specific Medicines Can Prevent COVID-19

Officially, there is not any particular medicine or vaccine that has been prescribed by medical experts to prevent or cure Coronavirus. No doubt scientists or medical experts have been tirelessly working to find a vaccine for covid-19 treatment. But these medicines are not the solutions to eliminate coronavirus. Nonetheless, you must have a corona health insurance policy to cover medical expenses incurred.

Investment

Best Mid-Cap Mutual Funds 2020 – Best 10 Performing Mid-Cap Funds

August 6, 2020 Tarundeep Singh No Comments

Every person these days want to invest money at a place where their hard earned money is not only secured but also is earning good amount of return over it. A safe and sound investment helps you to secure your future. It helps to maintain corpus of funds to overcome the unforeseen situation. Every person desires to extend its family for which a proper investment is needed to support such dream.

WHAT IS A MID CAP COMPANY?

Mid Cap company is the one that undergoes medium market capitalization. Cap word here means market capitalization. This is the whole value of the company. These days people are keen to make investment in med cap companies. The people who invest in mid cap companies are likely to earn higher returns in long run.

The mid cap company falls in the middle of small and large cap company limit. The size of the company often depicts that how safe the investment is! It gives a clue about the size of return and risk involved on the investment. A Mid Cap Company is basically the one which has 500-10000 crores of paid up capital.

Mid cap companies are becoming the active choice of various financial investors and financial investment institutions (often called FII’s). If a company undergoes a good corporate and business strategy, take right decisions at right time, it will eventually help a mid cap company earn high profits.

WHY MID-CAP COMPANY SHOULD BE YOUR FIRST CHOICE?

Various reasons make mid cap company first choice for the investors:

Mid cap company have higher potential to make profit than large cap company
Mid cap company works well in bullish trend where the market is upswing for long.
Mid cap companies are known for their quick adaptability feature, that is, they absorb the new advanced technologies more faster than the large cap company
Mid Cap Company have less volatility than large cap company.
Mid cap company has the potential to grow faster than large cap company which makes it the first choice for the investors!

ADVANTAGES OF MID CAP COMPANY

Mid cap companies allow you to make investment in the companies that have high possibility of growth in the near future. Some of the key advantages are discussed below:

Mid-cap shares lie on a broad spectrum, bordering both small-cap and large-cap stocks. These shares vary in terms of returns and risks entailed.
It helps in long term wealth creation
Investment made in SIP or Systematic Investment Planning helps to make the habit of continuous constant investment.
The mid cap companies have lower risk when compared to small cap companies
The return yield by mid cap company is generally higher than the large cap company
Some mid cap companies trade in niche market and hence allows you to diversify the portfolio investment
Mid cap company are highly volatile
Mid cap company helps to earn a good average return
The mid cap companies make considerable information disclosure that makes it more preferable over small or large cap companies

REQUIREMENTS TO INVESTMENT IN A MID CAP COMPANY

One just need a Demat account to start trading in the mid cap company. Over the years, trading has become much easier. SEBI has come up with various guidelines and initiative in order to boost the confidence of the people in stock market.

TOP 10 MID CAP COMPANY OF 2020

1. AXIS MID CAP FUND DIRECT GROWTH

The return yield by this fund is up to 9.98% annually continuously since past 3 years which is quite high. Last year the annual return was 14.19% which is phenomenal. This mid cap fund is hitting new records every year and should be the first choice of the investors.

This company is known for its reputation and consistent results over the past few years. Earning an annual return of 14.19% is not less!

The company is ranked 41 in the mid cap sector. You need to make a minimum invest of Rs. 5000 to be the part of axis family. The SIP investment starts from Rs. 500.

2. DSP BLACKROCK MID CAP COMPANY

DSP BLACKROCK COMPANY was launched back in 29006. This company involves a bit higher level of risk. Since its launch, the company is capable of capturing the average annual return of Rs. 13.5% which is commendable!

The basic objectives of the company to make such portfolio that can earn the company higher return in the long run. Company was ranked at 20th position in the mid cap company category. It earned the annual return of 39.8% in 2017.

3. TAURUS DISCOVERY MID CAP FUND DIRECT GROWTH

This company is successful in hitting new benchmark in past few years. The company is found earning the average annualized return of 2.92% in last three years. In the year 2019, the annual return of the company was 16.59%.

The company is trying to make it position strong in the market since past few years. To be the part of the company, one need to make a lump sum investment of Rs. 5000 or a simple SIP can be done starting from just Rs. 1000.

4. L&T MID CAP FUND DIRECT GROWTH

The company is able to outperform other strong companies in the past few years. The company was able to earn an annualized return in 2019 of 3.93% which is commendable. Company is constantly working on hitting the new records.
The company is ranked 05 in the mid cap sector. Minimum lump sum investment required to be the part of the big L&T family is just Rs.5000 and SIP begins at just Rs. 500.

5. KOTAK EMERGING EQUITY SCHEME

The company has the basic objective of earning high constant profits in long run by investing in the portfolio of small and mid cap companies.

The company is able to give a constant return of 10.4% annualized return since its launch back on 30th March 2007. The company is relatively higher risk. In 2017 the annual return of the company hit the all time high of 43%. While back in 2019 the annualized return of the company was 8.9% which is amazing!

The company is ranked 12 in the mid cap sector. The minimum lump sum investment required in the company is of Rs 5000 and to start SIP, it just requires the investment of Rs. 1000.

6. TATA MID CAP GROWTH DIRECT PLAN

The company is able to grab the average annualized return in the past few years of 1.08%. The company is able to hit the benchmark of the equity company constantly. The company provide income distribution and/or medium return in the mid cap sector.
The company was able to grab the return of 49.8% which was all time high back in 2017. The company is ranked 31 in the mid cap sector. The lump sum investment required is of Rs. 5000 and to start SIP, it just requires the investment of Rs. 500.

7. EDELWEISS MID CAP DIRECT PLAN GROWTH

The company is successful in giving the average annualized return in the past few years of 1.52%. The company was launched back on 26 December 2007 and is successful in giving the average return of 7.8% since its launch that is outstanding. In 2017, the company hit the all time high of 52.3%. While back in 2019 the annualized return of the company was 5.2%.

The company is ranked 22 in the mid cap sector. The lump sum investment required is of Rs. 5000 and to start SIP, it just requires the investment of Rs. 500.

8. FRANKLIN INDIA PRIMA FUND

The major focus of the company is to earn medium to long term capital appreciation. The company is successful of capturing the average annualized return in the past 3 years of -1.61%. The company was launched back on 01 December 1993 and is successful in giving the average return of 18.1% since its launch which is commendable.

In 2017, the company hit the all time high of 39.7%. While back in 2019 the annualized return of the company was 3.5%

The company is ranked 29 in the mid cap sector. The lump sum investment required is of Rs. 5000 and to start SIP, it just requires the investment of Rs. 500.

9. BNP PARIBAS MID CAP DIRECT GROWTH

The company is able to outperform other strong companies in the past few years. The average return yield by this fund is up to -0.12% annually since past 3 years. The company was launched back on 02 May 2006 and is successful in giving the average return of 8.4% since its launch which is remarkable!

In 2017, the company hit the all time high of 49%. While back in 2019 the annualized return of the company was 5.2%

The company is ranked 18 in the mid cap sector. The lump sum investment required is of Rs. 5000 and to start SIP, it just requires the investment of Rs. 300.

The company is simply successful in outperforming similar companies in the market. The company is constantly hitting benchmark in equity company.

10. HDFC MID CAP OPPORTUNITIES FUND

The company trade in both medium and long term market. The company is known for giving higher returns on the investment. The company has given the average annualized return since past 3 years of -2%.

The company was launched back on 25 June 2007 and is successful in giving the average return of 13% since its launch which is phenomenal!

In 2017, the company hit the all time high of 41.7%. While back in 2019 the annualized return of the company was 0.2% which is quite good!

The company is ranked 24 in the mid cap sector. The lump sum investment required is of Rs. 5000 and to start SIP, it just requires the investment of Rs. 500.

BASIC CONSIDERATIONS WHILE SELECTING A MID CAP COMPANY

One needs to overview basic parameters while selecting a mid cap company. It may seem to a tedious job but looking into the qualitative and quantitative parameters is very important before making a smart investment.

The basics pointers to be considered are:

Check the Rating; while making a start, checking up the mutual fund rating is a good step. It helps to have an assurance that the investment made by us is safe and sound.
Asset under management, fund age, past year performance, expense ratios are needed to be checked thoroughly
Investor should closely examine the past three year performance of the company closely.
Reputation; the firm reputation is needed to be checked properly while making an investment. If the company’s reputation is high, it will think twice while doing any manipulation in the account or to undergo any fraudulent activity with the investors.
Check closely the return, risk and AUM for making a sound investment.
Investment Process, the investment process of the company shall be well sound. You should closely see where the company utilizes your hard earned money.
Compare all the companies trading closely. The past 3-5 year trading result gives a good idea about company’s performance.
The portfolio composition and qualitative reports of the company are needed to be analyzed closely before making the investment
A fund shall have net worth of Rs 100 crores
The company shall have less expense ratio

CONCLUSION

An investment made in Mid Cap Company is needed to be made with great caution. A good long term mid cap investment helps the investor to earn high returns on investment. The fund may appear to be risky, but it yields higher profits. A good study of the market trends helps us to make sound investment. Mid cap company are more safer than small cap companies where the risk is higher and is also safer than large cap companies where returns may fall short.

Insurance Policy

10 Best Health Insurance Plans in India You Can Buy in 2020

August 4, 2020 Tarundeep Singh No Comments

He who has health has hope,
And he who has hope has everything.

In today’s fast running world, people have become less considerate about Health. Therefore, it is very important that people should be made aware about this most alarming issue before it’s too late. We have often heard since childhood that a healthy mind resides in a healthy body. So now, there is a time to take up required steps to work over the health issues.

Medical expenses are the one which drains maximum wealth of an individual. For a lower or middle class person, a medical issue sometimes makes up the situation of complete bankruptcy. But, if you have a good Health Insurance Plan in your hand, you can certainly cut down this unwanted expense. Maximum people are usually unaware about this policy due to which they end up spending a huge amount of their hard earned money on the long never ending hospital bills.

How Health Insurance Is A Life Saver During Emergency?

A good health insurance company gives a complete cover to the entire family. Not only this, it covers not only the hospital bills, but also the before and aftermath medical expenses on routine checkups, medicines and all.

A sound Health Insurance policy:

Give the entire family a suraksha kavach
bears the long hospital bills
Covers pre and post hospitalization expense.
Provides multiple types of covers for different kind of medical emergencies like maternity benefit, personal accident, disease specific cover and many more.

4 Basics Things To Be Considered While Opting For A Health Insurance Policy

1. Associated Hospitals

It is very important to check whether the Health Insurance Company you opted for has a good number of networked hospitals or not. It should not be as case that when you go out for treatment in emergency, you end up finding no significant hospital in your vicinity!

2. Claim Settlement Ratio

This is one of the most important factors. It is very important to closely analyze how efficient a company is in settling the claims of the customer. If the company is not too handy in settling claims, such company will just turn out to be a headache for you.

3. Credit Facility

Check whether your opted Health Insurance provides you with credit facility in the networked hospital. This is an important factor to be considered before picking up a Health Insurance Policy.

4. Road Ambulance

If your Health Insurance Policy covers the road ambulance expense, it is the best policy and you should grab it! This expense is usually not covered in most of the Health Insurance Policy and tends to be a huge burden on your pocket.

Let us now discuss few Health Insurance Policies in the market that you can choose from as per your suitability:

1. Aditya Birla Active Assure Diamond Plan

Aditya Birla Active Assure Diamond Plan is the health insurance policy brought to you by Aditya Birla Group. This is the best alternative for the people who a looking for a comprehensive plan that can cover all kind of expenses.

Key benefits and features:

Pre- hospitalization benefit
Post hospitalization benefit
Day care; the plan provides you with 586 days of daycare procedures and dialysis facility.
Emergency Ambulance to take the patient to the nearest hospital.
Ayush Treatment- Ayurveda, Unani, Siddha and Homeopathy.
Organ Donor Expense.

Plan covers:

Room rent
Boarding expense
Medical Consultant fee
Specialist fee
Oxygen charges
Surgeon fee
Anesthetic fee
Medical practitioner fee
Blood charges
Pacemaker charges
Diagnostic fees and many more.

Not only is this, under this insurance policy, the premium paid is exempted with Tax under 80D of Income Tax, 1961.

2. Bajaj Alliance Health Guard Plan

Bajaj Alliance Health Guard Plan is a comprehensive plan offered by Bajaj it covers almost every kind of expense. From medical emergency to maternity expense, from road accident to new born expense; this insurance policy covers it all!

Key benefits and features:

Pre- hospitalization benefit
Post hospitalization benefit
Ayush Treatment (in-patient)- Ayurveda, Unani, Siddha and Homeopathy.
Domestic and International Medical Expenses evacuations
Second opinion for critical illness
Road Ambulance.

Plan covers:

Cancer Hospitalization Booster
Accidental Hospitalization Booster
Less waiting time for pre-existing illness (up to 1 year)
Room upgrade
Donor organ transplant
Vaccination Benefit
Domiciliary Hospitalization; hospitalization at home due to ill health and prolonged sickness.

3. Essential Privilege Plan

Universal Sampo provides up with Essential Privilege Plan which is a comprehensive plan in itself. The family floater plan can include up to 6 members.

Key benefits and features:

Cover to 91 days old new born baby
Day care procedure, up to 141 days day care procedure where admit time is less than 24 hours.
Pre hospitalization expense
Post hospitalization expense
Bonus; the policyholder gets bonus in the year no claim is taken by him. The some insured is increased by 10% and can sum up to maximum 40%.
Grace period- 30 days provided to insured person

Plan covers:

Vaccination
Child coverage
Ambulance expense
Hospital daily cash
Critical Illness
Inpatient Hospitalization
Organ donor facility
Tax Benefit

4. Bharti Axa Smart Health Insurance Plan

Bharti AXA Smart Health Insurance Plan provides you coverage against all medical expenses and emergency cases. The only exclusion is, it doesn’t provide hormonal treatment and birth control measures expenses.

Key benefits and features:

30-40 days pre hospitalization treatment
60 days post hospitalization treatment
5% to 25% no claim renewal
Ayush treatment
Any aged from 91 days to 65 years can buy this policy

Plan covers:

Domiciliary treatment up to 10% of sum insured
Day care procedure
Sum assured limit-3/4/5 lacs

5. Family Health Optima Plan

Star Health Insurance comes up with ‘FAMILY HEALTH OPTIMA PLAN’ which is a complete super saver policy. Under this, the entire family can be insured under a single plan only.

Key benefits and features:

Room Rent Facility- maximum limit of room rent facility is Rs. 5000. Moreover, this policy also provides facility of single standard AC Room for the policyholders of cover 5 lac and above.
Organ donor expense
Cataract Facility with Sub-Limits:
- Rs. 35000 per policy of 3lac per year
- Rs. 45000 per policy of 4lac per year
- Rs. 75000 per policy of 10-25lac per year

Plan covers:

Air Ambulance expense
New Born Baby expense
Cover of Rs. 20000 for AYUSH treatment.
Bonus
Second medical opinion
Emergency Ambulance.

6. Health Companion Plan

This Health Companion Plan is brought to you by Max Bupa Life Insurance Company. It brings to you a complete health companion. They offer 3 variants of plans with different health coverage schemes. You can easily choose the policy as per your choice.

Key benefits and features:

Pre Hospitalization expense; 30 days cover is provided
Post Hospitalization expense; 60 days cover is provided
ICU Charges; all significant charges of ICU are covered
Refilling of Plan; in case you end up exhausting the complete limit, there is no need to worry as you can simply refill your plan once a year. Same provision is provided for family floater plan with some conditions.

Plan covers:

ICU Cost cover
Animal bite vaccination
Living organ donor transplant
In patient care
Emergency ambulance
Domiciliary Hospitalisation

While, it doesn’t cover cosmetic surgery, HIV-AIDS treatment, puberty, menopause related disorder and obesity treatment.

7. Optima Restore Plan

HDFC Ergo Health Insurance Company (before known as Apollo Munich Health Insurance Company) offers Optima Restore Plan. This plan provides you bonus and rewards on staying fit. On a sum insurance of Rs. 5 lac, it provides a free health checkup once in 2 years!

Key benefits and features:

Pre Hospitalization expense; 60 days cover is provided
Post Hospitalization expense; 180 days cover is provided
Critical advantage rider; feature available for policyholder of Rs. 10 lac or above.
Discounts; policyholder may get daily cash of Rs. 500 on some conditions fulfillment

Plan covers:

Day care facility
Organ donor facility
Ambulance
In patient treatment
Second opinion in case of critical illness
Waiting period of 3 years in case of pre existing disease
In case of shared accommodation, daily cash of Rs. 6000 is provided.

8. Lifeline Supreme Plan

Royal Sudharam Health Insurance Company provides you with Lifeline Supreme Plan. It is meant for both individuals and families. It is one of the comprehensive plans that provide best coverage.

Key benefits and features:

Ambulance cover up to Rs. 5000/-
Free health checkup once a year
Maternity Benefits, the serving mother is provided with the cover with a waiting period of 3 year.
In case of no limit exhausted, a bonus of 20% up to maximum 100% is provided.

Plan covers:

Free health checkup
New born baby cover since birth
Vaccination cover of new born baby
In case of pre-existing disease, waiting period of 3 years.
Second opinion in case of 11 critical illnesses.
Worldwide emergency
Day care facility for
- Chemotherapy
- Hemodialysis

9. Senior Citizen Red Carpet Plan

With the growing age, medical issues are inevitable. Star insurance company provides the senior citizen with Senior Citizen Red Carpet Plan. The plan holds a great significance for old age people and helps them to cut off their medical bills in old age.

Key benefits and features:

Pre Hospitalization expense; 30 days cover is provided
Copayment is applied in case of treatment payment:
- For pre existing disease, 50% of each and every admissible claim.
- For post existing disease, 30% of each and every admissible claim.
Sub limits; in case of renal disease, cataract, cancer, vascular cardiac disease, breakage of long bones, cerebro vascular accident.

Plan covers:

In patient Hospitalization
Pre insurance medical screening
ICU Charges
Health checkups
Hospitalization Expenses:
- Nursing
- Boarding
- Room rent

It doesn’t include venereal disease, sexually transmitted disease, cosmetic surgery, nutritional disease and congenital external conditions.

10. Pro Health Plus Plan

Manipal Signa Heath Insurance Company launched Pro health Plus Plan. This company provides the policyholder with worldwide emergency cover. It covers both the people- residents and non residents of the country.

Key benefits and features:

Restoration of insured sum; once a year, if the policyholder exhaust his limit, he is provided with facility to refill it.
New born baby expense:
- Delivery charges of the mother
- Once child is 91 days old, he is covered under family floater plan
First year vaccination for the new born baby

Plan covers:

Family floater plan; covers 2 adults and 3 children
Expert opinion
Free health checkup
Co payment in case of 65 years or above person is mandatory.
Bonus in case of no claim years, cumulate up to 50%.
Pre and post hospitalization cover for fixed days.
Portability option
Free lock period on 15 days in which you can cancel it if required
Waiting period of 4 years for pre existing disease
Waiting period of 2 years in case of
- Varicose veins
- Varicose ulcer
- Gastric ulcers
- Hysterectomy
- Cataract

Conclusion

In today’s scenario, it is very important to have a sound health insurance policy that provides you best coverage and protects you from draining your hard earned money in case of some unexpected illness or unforeseen accident. Take a comprehensive plan that provides a cover to you and your family from any impending danger!

Insurance Policy

How Health Insurance Protects Savings During Emergency?

July 22, 2020 Tarundeep Singh No Comments

As we all know that health insurance offers long term plans which then converted into health insurance with savings.

Take Advantage of a Health Savings Account (HSA)

HSA allows us to add funds into a savings account which is linked to health care costs tax-free. It can be one of the best ways to save money with health insurance costs.

Have a look at four reasons to consider an HSA:

Take benefits of tax-free contributions.
Less monthly insurance premiums.
Contributions roll over time-to-time.
Invest your HSA funds to grow over the long-term.

Cover the Basics

There are some basic concerns that every health insurance protects savings like financial help in medical emergencies.

If you are choosing the right health insurance, it not only covers your hospital charges but also handles before and after hospitalization costs. This will also give coverage to your family.

As you all know funds are the only thing that comes in our mind at the time of emergency.

Hence, health insurance protects savings so the policy is the great option of cashless policy.

Covers Your Medical Expenses

In this fast-moving world, when anyone in your family needs medical care in an emergency, the only thought that comes in your mind is medical costs.

So if you buy health insurance for you and your family, it covers medical expenses that are incurred due to an unexpected situation.

If you buy health insurance from the best company, you don’t need to worry about any medical expenses either they are post-hospitalization expenses or pre-hospitalization charges.

Therefore, buying the right combination of insurance features, you can get 360-degree health protection for you and your family member.

There are multifarious insurance companies that offer separate health plans to cover different conditions like maternity benefits, personal accident insurance, and many more. With these policy benefits, you don’t need to worry about the funds in case of calamities.

Cashless Mediclaim Facility

Let’s suppose you or any of your family members are hospitalized and getting treatment to recover their illness, at that time, it will be difficult for your family to arrange cash to pay the hospital fees.

To make sure you don’t have to face that critical situation, find the best insurance company online that provides a cashless Mediclaim facility at multiple hospitals. So that you can get the best treatment without taking financial stress.

Just research the best insurance company online and fill up the Medical claim form to grab cashless benefits.

No-Claim Bonus

It is a great way that health insurance protects savings. As we all know life is uncertain, we never know when we have to face any health issues so these things are unexpected. If someone buys health insurance, by god grace, he does not need a health insurance claim. So it’s a great financial opportunity for the insured person that he can get the benefit of ‘No-Claim Bonus’ for every claim-free year.

No claim bonus is a kind form of a discount on premium for the next year.

Tax Benefits

Tax benefits to policyholders are another way to get greater savings with health insurance. If you bought health insurance and your age is less than 60 years, you are eligible to claim tax benefits of up to Rs. 25,000 for yourself, your spouse, and your children. It is according to the income act.

Now you get an idea that how health insurance protects savings.

Just take a single step towards purchasing health insurance for you and your family member.

Financial Protection Against Critical Illnesses

As I have already mentioned in the last point that life is uncertain. We might be able to face critical illness in life. To face these kinds of situations in life, you must prepare before this. There are a plethora of health insurance companies online that provides coverage against critical illnesses like kidney failure, cancer, heart attack, etc.

In case you are diagnosed with any of these worst diseases, the insurance company will provide you a pre-defined amount for your treatment costs.

So do research and select the right policy with the best coverage thereby help you to prepare for the worst.

Fight Illness Without Spending Your Savings

We all know this, ‘health is wealth’. In this modern era, people are living a sedentary lifestyle. So physical fitness has become the aim of our life. It’s really hard to manage all these things in a busy life. People unable to find enough time to take care of their health.

That’s why health insurance companies always encourage people to buy a health insurance plan as their health protector. Insurance plans help you to secure against the risk of medical emergencies that could vanish all your funds in one go.