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Economic Times
04-08-2025
- Business
- Economic Times
What is a children's mutual fund? How does it work?
1.A children's mutual fund is an investment option that specifically caters to children and their financial goals like higher education, college tuition or wedding expenses.2. Children's funds typically have a lock-in period, restricting withdrawals for a certain period, encouraging long-term include a mix of equity and debt, and investors can choose higher debt or higher equity depending on the risk profile and investment horizon 4.T investment is done in the name of the child and is typically made by a parent or guardian for a funds offer deductions under Section 80C, and long-term capital gains (LTCG) may be tax-free up to a on this page is courtesy Centre for Investment Education and Learning (CIEL).Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.
Time of India
04-08-2025
- Health
- Time of India
Want to upgrade your health insurance cover? Here's why top-up, not new policy is the way to go
Academy Empower your mind, elevate your skills Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta. Nitin Khurana has been paying the premium for a health insurance policy of Rs.10 lakh for himself and his wife. With rising healthcare costs and age, he realises that the amount is not enough. As he was debating whether he should enhance his cover to Rs.15 lakh or take an additional Rs.5 lakh policy, he came across top-up plan s. How should he increase his cover? Should he get a new policy or a top-up plan?Nitin Khurana's concern about the insufficient cover that his existing health policy provides is justified. A serious illness or an accident may require expensive treatment and exhaust his health cover . So he needs to increase it. A top-up plan is an additional coverage at a lower cost for people who have an existing health policy. It takes care of expenses that result from a single illness, but are higher than the cover provided by the existing plan. Since it provides the necessary additional coverage at a low cost, a top-up plan makes sense for has the option to buy a new regular health policy with a Rs.5 lakh cover, or can upgrade his existing plan by Rs.5 lakh. However, both these work out as expensive options. A top-up plan worth Rs.5 lakh, on the other hand, will cost much less. The cost of the top-up plan is linked to a factor called 'deductible limit'. It is a predecided limit mentioned in the schedule and only when the cost of a single illness crosses this limit does the top-up plan kick in. The higher the deductible, the cheaper the top-up plan. The primary policy reduces the risk for the insurer.A top-up plan generally covers only single-incidence hospitalisation. This means that the top-up plan kicks in only if the hospital bill exceeds the deductible limit during a single hospitalisation. Some plans do not come with the limit of a single claim and can be used for any illness beyond the deductible limit for the entire year. These plans are known as super top-ups Top-up health plans are designed to enhance the existing policies to cover the actual healthcare costs. The point is not to duplicate but to buy additional coverage at a reasonable cost. Top-up plans ensure that there is sufficient cover and that insurance does not run out when the actual need arises.
Time of India
04-08-2025
- Business
- Time of India
What is a children's mutual fund? How does it work?
Academy Empower your mind, elevate your skills 1.A children's mutual fund is an investment option that specifically caters to children and their financial goals like higher education, college tuition or wedding expenses.2. Children's funds typically have a lock-in period, restricting withdrawals for a certain period, encouraging long-term include a mix of equity and debt, and investors can choose higher debt or higher equity depending on the risk profile and investment horizon 4.T investment is done in the name of the child and is typically made by a parent or guardian for a funds offer deductions under Section 80C, and long-term capital gains (LTCG) may be tax-free up to a on this page is courtesy Centre for Investment Education and Learning (CIEL).Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.
Time of India
16-06-2025
- Business
- Time of India
Understanding Cyber insurance: Key points to know
Cyber insurance represents a protective agreement where insurers safeguard organisations and individuals. (AI image) Cyber insurance explained: In today's digital landscape, cyber insurance serves as an essential protective measure, offering coverage against various online threats. This specialised insurance safeguards by covering expenses related to cyber incidents, including data breaches and ransomware attacks. The policy encompasses critical aspects such as litigation expenses, system restoration costs and reputational harm management. Given the rising frequency of digital threats, organisations across industries and scales find cyber insurance indispensable for their risk management strategy. Cyber Insurance: Key Points Cyber insurance represents a protective agreement where insurers safeguard organisations and individuals from financial damages caused by digital crimes. As cyber attacks grow more complex and frequent, such protection has become crucial for both commercial enterprises and private citizens. The coverage encompasses direct financial impacts, including costs associated with operational disruptions, system restoration and monitoring of credit activities. The policy extends to cover external liabilities, such as legal expenses stemming from data violations, reputational harm, breaches of intellectual property and associated litigation. Numerous insurance providers now present diverse coverage options tailored for personal, household and corporate protection against digital security risks . With inputs from Centre for Investment Education and Learning content which appeared in Economic Times Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
16-06-2025
- Business
- Economic Times
Insurance is a risk cover and not an investment: Don't confuse the two
Vihaan Gupta, 30, is planning to get married and start a family. He has been saving for his key financial goals like buying a house, travel and retirement. He took a Rs.15 lakh life insurance policy five years ago when he started working. Though he often receives insurance sales calls, he believes his current cover and investments are sufficient and a simple top-up will suffice as he settles down. Is this assumption correct? Vihaan Gupta is right to identify and plan for his life goals, but achieving them depends on his ability to keep earning and investing. An untimely death could derail this plan, leaving his family without adequate financial support. A pure term insurance policy is best suited to cover this risk and should be sufficient. It should be reviewed at every life stage and starting a family is a crucial point to do so. Gupta must factor in inflation, current finances, number of dependants, and his family's future lifestyle needs in his absence. Just as death is a risk that can't be ignored, so is the loss of earning capacity by the breadwinner. A personal accident policy helps cover this risk, especially if it includes death, permanent total or partial disability, and temporary disability. Similarly, a major illness or accident requiring hospitalisation can strike any family member at any time and lead to significant expenses. Without health insurance, Gupta may have to dip into savings or even borrow, putting his long-term goals at risk. Opting for health insurance early is essential to safeguard against medical risks. Insurance is a risk management tool and should not be confused with investment, as it serves a completely different purpose. Identifying key life risks and covering them with suitable insurance is essential. Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.
