Do you have insurance, stocks, mutual fund and personal finance-related queries?
Please ask your questions HERE and rediffGURU Milind Vadjikar, Association of Mutual Funds in India (AMFI)-registered MF distributor and Pension Fund Regulatory and Development Authority (PFRDA)-registered retirement financial planning advisor, will answer them.
Anonymous: Is early retirement in India a stupid idea when cost of living and salaries are rising exponentially and any significant corpus will devalue in no time?
It makes sense in Western countries with low inflation and low income growth, a large corpus is remains sufficiently sizeable for a long enough period of time.
No that is not correct however people should avoid making retirement corpus estimate based on some thumb rules floating on social media which can be dangerous to your financial well-being and health.
If you have 'adequate resources' of inflation indexed income, such as:
1. SWP from a hybrid mutual fund
2. Rental income from residential or commercial property
3. Inflation indexed annuity income
In addition to interest income, dividend income, pension, if any, self-occupied house plus separate provisions for kid's/kids' higher education and some emergency fund for health issues apart from adequate healthcare insurance for the family.
This can work for many people.
The key thing is people who are in late 30s/early 40s have a burnout feeling due to toxic work culture in most Indian establishments and also having created some corpus are eager to exit the rat race without proper due diligence.
Such people may try to pursue alternate vocation or profession to remain engaged, keep earning and also get out of the rat race after careful consideration and planning.
Nitin: My age is now 35. 2 yrs before I have taken Bajaj Allianz Life insurance term plan of 1 cr I am paying 10yrs (35000/yr) premium period and covered till age of 75yrs.
My concern is if Bajaj group and Allianz group going to separate then how they transfer benefits of insurance if any policy holder claim and what effects on policy holders.
Kindly cover advantages and disadvantages for policy holders.
Recently GOI announced 100% FDI in the insurance sector.
Allianz had non-controlling stake in Bajaj Finserv owned insurance companies.
It may have plans to re-enter Indian Insurance sector either on its own or through tie-up with some other partner but retaining controlling stake.
However these developments do not have any impact on the policy holders of Bajaj group insurance companies.
The companies are well capitalised and earning profit so you shouldn't worry about these aspects.
Previously Exide Life was taken over by HDFC Life and honoured all policies of Exide without any issue.
Hope this helps.
S: Sir need clarification regarding 1.i have done Reliance health infinity insurance for 15 lakh. date of inception is 11-6-2020 PEDs not disclosed (DM, Hypothyroidism) (done by agent not verified me at that time) 2. Did Reliance Super top up policy after 11-7-2022 online by Reliance agent during this i disclosed that PEDs (DM, Hypothyroidism) and at that time specifically mentioned to online agent regarding PEDs and also told him to PEDs not mentioned in base policy please correct it. I never utilised insurance policy for any claims.
During 23-4-24 i diagnosed to have Acute Myeloid Leukemia for which i applied for cashless admission for Reliance health infinity insurance (base policy). They simply rejected on the basis of PEDs not disclosed and told that your policy is canceled.
But i kept a letter to company stating that in base policy PEDs not disclosed, but in super top up policy i mentioned. Again the base policy renewal done after expiry by company online. Later also i went for cashless admission again they rejected claim for base policy.
My question is why they did renewal of that base policy in spite of first rejection. And for super top up policy it can be claimed after spending 15 lacks i applied for cashless, they processed it and told to come for reimbursement claim.
After discharge i applied for reimbursement claim they simply replied that your PEDs not told correct duration since how many days. So we are rejecting this policy also For this what should i do, please.
In any insurance adequate disclosure is essential to get a thorough underwriting check and risk acceptance.
Once insurance company agrees to insure with the disclosures then chances of claim rejection are remote.
You may escalate the matter with Compliance Officer of the insurance company, insurance ombudsman or IRDAI for an amicable settlement, if possible.
You may also check with organisations such as 'beshak dot org' for any possible help in the matter.
Girish: My daughter aged 19 want start equity SIP directly. Could you please advise some good stocks below Rs 100 and can have potey for Multibagger in next 10 to 15 years. Are there any. If not below 100, pls advise what best you feel to start?
My suggestion would be to begin with a RD and a NPS account.
If these are not suitable then she may opt for mutual funds (balanced advantage funds to begin with).
Price should never be a criteria to buy a stock. It's valuation, growth prospects and governance record should be the key criteria.
If she is insistent on stock sip then she may consider Tata power, L&T and ITC.
The entry levels and stop losses should be ascertained from a sebi registered research analyst.
Anonymous: In 1995 I have 200 partly paid up shares 2/- value of Jindal Vijaynagar steel ltd what is the current quantity I have of JSW STEEL.
In 2005 during merger of JVS and JSW, conversion ratio was 1:16, i.e. 16 shares of JSW for every 1 share of JVS, therefore 200x16=3200 shares.
In 2017 JSW split its share in the ratio of 1:10 so no. of shares held: 10x3200= 32000 shares of JSW as on today.
- You can ask rediffGURU Milind Vadjikar your questions HERE.
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Any use of the information/any investment and investment related decisions of the investors/recipients are at their sole discretion and risk. Any advice herein is made on a general basis and does not take into account the specific investment objectives of the specific person or group of persons. Opinions expressed herein are subject to change without notice.
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