March 2023


Waiver Of Premium Rider Or Critical Illness Rider? Which Is Better?

The Critical Illness Rider: What is it?

An uncommon occurrence, critical illness blocks our fantasies and depletes our reserve funds. The number of common and dangerous illnesses is rising as a result of lifestyle changes, adding to the burden of expensive treatment. For some people, a basic medical clinic’s ability to treat critical illnesses moderately causes serious concern. Also, a basic illness may result in a pay cut and a change in lifestyle. If a person is found to have a basic illness, he may lose his work, which directly affects the family’s income. Financial hardships brought on by expensive clinical expenses combined with wage loss are difficult to adjust to.

Critical Illness Rider Benefits

  • “Critical Illness Rider” coverage is an added benefit where the insurer agrees to make a one-time payment if the policyholder is found to have a certain condition on a predetermined list as part of a protection plan. Even if there is a financial benefit provided against the Critical Illness rider (which covers 11 common illnesses), the fundamental plan is still in effect.
  • People ought to think about taking Critical Illness since they are bound to encounter a Critical Illness than kick the bucket before retirement. A variety of people will require such a cover for a variety of reasons. If a person is single, she may require a plan to ensure that her mortgage is paid. If a person is married, they may need to make arrangements for their family in the event that they are unable to work due to illness.
  • In many ways, a Critical Illness rider added to a life insurance plan is preferable to a standalone Critical Illness health plan. The financial burden caused by a severe illness will undoubtedly exceed what an indemnity health plan would pay for.
  • Hence, the best way to overcome the Critical Illness deficiency is to buy a simple sickness Rider as an extra security plan. Simply, critical illness serves as a buffer against financial hardship. Following the implementation of new types of Rider benefits, the “Waiver of Premium” rider now offers the benefit of deferring premium on the primary finding of a Critical Illness in addition to providing the advantage of waiving all future disaster protection expenses in the event of unfavourable passing or unplanned long-term total incapacity.

A life insurance calculator is a tool you may use online to determine the amount of coverage required based on your needs.

What is the Premium Rider Waiver?

The Waiver of Premium rider protects disaster protection customers against an unexpected illness or handicap that makes it difficult to pay fees. The benefit against riders with Critical Illness is provided upon the initial diagnosis of any of the predefined 11 basic disorders. It is much more difficult to cover the costs of catastrophe protection when an individual has a true disability or illness that will unquestionably reduce their salary. When people are struggling, they typically quickly terminate their extra security as a way to save spending.

Also, the effects may be very severe for their families. People with disabilities perform below average due to clinical challenges. Their family is in a serious financial crisis as a result of the cost of their doctor’s appointments. If they pass away without further security, the family may not receive critical financial assistance, or the mate may not receive retirement benefits. The real benefit of the Waiver of Premium rider is that it avoids the need for an additional security contract when one would otherwise be necessary. A Waiver of Premium rider prevents the life insurance policy from expiring in addition to relieving the burden of paying extra security fees associated with a critical illness.

So, investing in a life insurance plan that combines a Critical Illness Rider and a Waiver of Premium Rider protects a person from unexpected financial burdens. Yet, both riders are excellent, and which one is best depends entirely on your needs.

The decision to choose between the waiver of the premium rider or the critical illness rider depends on the individual’s personal circumstances, financial goals, and risk tolerance. The waiver of premium rider provides financial protection by waiving the policy premiums in the event of the policyholder’s disability, while the critical illness rider offers a lump sum benefit to cover medical expenses in case of a specified illness.

Both riders have their own advantages and limitations, and it is important for policyholders to carefully evaluate their options before making a decision. Factors such as age, health, family medical history, and financial stability should be taken into consideration when choosing a rider.

A life insurance calculator is an easy-to-use tool to check the amount of premium you would have to pay.


read more

Understanding the role of ELSS in managing investment risk for conservative investors

Investing in the stock market can be a daunting task, especially for conservative investors who are looking for stability and security in their investments. However, the potential for higher returns often makes investing in equities a necessity. One way to manage investment risk while investing in equities is by investing in Equity Linked Savings Schemes (ELSS). In this blog, we will discuss the role of ELSS in managing investment risk for conservative investors.

What is ELSS?

ELSS is a mutual fund scheme that invests in equity-related instruments, offering tax benefits under Section 80C of the Income Tax Act, 1961. ELSS has a lock-in period of three years, which means investors cannot redeem their units before three years. ELSS funds have the potential to deliver higher returns than traditional fixed-income investments, making them an attractive option for conservative investors who are willing to take some risk.

Let’s understand how ELSS can help conservative investors manage investment risk

  • Diversification

Diversification is an essential strategy for managing investment risk. ELSS funds invest in a diversified portfolio of equities, which spreads the risk across multiple companies and sectors. This diversification helps to reduce the impact of any adverse events on individual companies or sectors.

  • Professional management

ELSS funds are managed by experienced fund managers who have a team of analysts to research the market and identify potential investment opportunities. Conservative investors who are not well-versed in the stock market can benefit from the expertise of these professionals.

  • Long-term investment horizon

ELSS funds have a lock-in period of three years, which means investors cannot redeem their units before three years. This lock-in period encourages investors to stay invested for the long term, which is essential for equity investments. The long-term investment horizon helps to smoothen out short-term market fluctuations and provides a stable return over the long term.

  • Tax benefits

ELSS funds offer tax benefits under Section 80C of the Income Tax Act, 1961, which allows investors to claim a deduction up to INR 1.5 lakh in a financial year. This tax benefit helps to reduce the overall tax liability of investors and improves their post-tax returns.

  • SIP option

ELSS funds also offer the Systematic Investment Plan (SIP) option, which allows investors to invest small amounts at regular intervals. This option helps to average out the cost of investments and reduce the impact of market volatility.

In a nutshell

In conclusion, ELSS funds can be an effective tool for conservative investors to manage investment risk while investing in equities. ELSS funds offer diversification, professional management, a long-term investment horizon, tax benefits, and the SIP option, which can help to reduce the impact of market fluctuations and provide stable returns over the long term. However, investors should evaluate their risk appetite and investment objectives before investing in ELSS funds and consult with a financial advisor if required.

read more

French Commercial Exemption for Superyachts

The French Commercial Exemption is a set of regulations that apply to superyachts operating in French waters. This exemption requires that any yacht that spends more than 70% of its time in French waters must be registered for commercial use in France, regardless of its size or ownership status.

The French Commercial Exemption was introduced to ensure that superyachts operating in French waters comply with French labor laws and regulations, and to level the playing field for French-based commercial yacht operators. By requiring that all yachts operating in French waters comply with French commercial regulations, the French government is able to ensure that French maritime workers are protected and that yacht operators are held to a consistent set of standards.

To comply with the French Commercial Exemption, yachts must be registered for commercial use in France and comply with various French commercial regulations. This includes hiring a French captain and crew, obtaining a French commercial yacht registration (FRPY), and ensuring that the yacht complies with French safety and environmental regulations. The process of registering a yacht for commercial use in France can be complex and time-consuming, and it is important to work with a knowledgeable and experienced superyacht rental company to ensure compliance.

While the French Commercial Exemption can be challenging for yacht operators, it also offers a number of benefits. By complying with French commercial regulations, yachts are able to operate legally in French waters and provide guests with a high level of service and safety. Additionally, the French coastline offers some of the most stunning cruising destinations in the world, from the glittering beaches of the French Riviera to the quaint fishing villages of Brittany.

Overall, the French Commercial Exemption is an important regulation that helps to ensure that superyachts operating in French waters are subject to consistent standards and regulations. While compliance can be challenging, it is essential for yacht operators to work with knowledgeable and experienced prof

read more

10 Reasons Why People Lose Money in Stocks

Buying stocks today can be a lucrative way to grow wealth over the long term. However, many people lose money in the stock market, often due to common mistakes that can be easily avoided. Here are 10 reasons why people lose money in stocks if they fail to use the how to open demat account:

1). Lack of Research: Many people jump into the stock market without doing their due diligence. They invest in companies without knowing much about them or their financials. This lack of research can lead to poor investment decisions, resulting in losses while buying stocks today.

2). Emotional Investing: People often make investment decisions based on their emotions rather than logic. They might buy stocks based on hype or fear of missing out (FOMO) rather than a rational assessment of the company’s prospects. This can result in buying stocks that are overpriced and likely to decline if they fail to use the best trading apps.

3). Lack of Diversification: Investing all your money in one stock or sector can be a recipe for disaster. Diversification is key to reducing risk in a portfolio. By spreading your investments across different stocks and sectors, you can reduce the impact of any one stock or sector on your overall portfolio.

4). Ignoring Market Trends: The stock market is dynamic, and trends can shift quickly. Ignoring market trends can result in buying or holding onto stocks that are declining in value. Staying up to date on market trends can help you make informed investment decisions while stock trading.

5). Overconfidence: Some investors become overconfident in their abilities and make risky investments. This can lead to overtrading, buying and selling stocks frequently, which can result in higher fees and taxes, ultimately reducing returns when they fail to use the best trading apps.

6). Timing the Market: Trying to time the market is a common mistake that can lead to losses. No one can predict the stock market’s movements with certainty, and attempting to do so can result in missed opportunities or buying and selling at the wrong time.

7). Following the Crowd: Investors often follow the crowd, buying stocks that everyone else is buying. This can lead to buying overvalued stocks or missing out on undervalued stocks while using the best trading apps.

8). High Fees and Commissions: High fees and commissions can eat away at investment returns. Be sure to understand the fees and commissions associated with your investments and seek lower-cost alternatives when possible.

9). Lack of Patience: Investing in stocks is a long-term strategy. Many investors lose money because they don’t have the patience to wait for their investments to grow. Trying to make a quick profit by buying and selling stocks frequently can result in losses while buying stocks today.

10). Not Having a Plan: Investing without a plan is a recipe for disaster. Before investing, you should have a clear plan that outlines your investment goals, risk tolerance, and investment strategy. This can help you make informed investment decisions and stay on track with your long-term goals while using buying stocks today.

read more

The advantages of investing in ELSS mutual funds over other tax-saving options

Tax is an unavoidable yet essential part of life, and it certainly pays to have a comprehensive plan in place for taxes. Investing in 80C tax-saving investments can be an ideal way for responsible taxpayers to save on taxes while ensuring their financial future is secure. While all tax saving investments under 80C can be beneficial, ELSS mutual funds are one efficient way to both save on taxes and invest for long-term growth.

Learn more about ELSS mutual funds and what additional benefits they have to offer over other 80C tax-saving options.

What is an ELSS mutual fund?

An ELSS mutual fund is an equity-based fund that invests mainly in stocks and shares of listed companies. Since they come with a tax benefit, ELSS funds are also known as tax saving mutual funds. In India, investments up to Rs. 1.5 lakhs (under section 80C) can be claimed as deductions from taxable income each year. This deduction helps ELSS investors reduce their tax liabilities significantly and make more money available for other investments or savings.

Furthermore, the ability to invest in ELSS online through a lump sum or a systematic investment plan (SIP) allows you to choose exactly how and when you want to invest, giving you more control over your finances.

Advantages of investing in ELSS mutual funds over other tax-saving options

  • Flexibility and maximum liquidity

The lock-in period for ELSS investments is three years, which is much lower than the five or ten-year lock-in periods for other tax-saving instruments like public provident fund (PPF) (15 years), tax-saving bank FD (5 years) or the national savings system (5 years). This means that you have a shorter time frame to plan your investments and accrue returns while still being able to enjoy the same tax benefits.

Note that redeeming ELSS funds after three years is not mandatory, you can continue to stay invested.

  • Diversification and portfolio diversification

Another advantage of investing in ELSS mutual funds is portfolio diversification. Since these schemes invest primarily in equities with a mix of large-, mid-, and small-cap stocks, they provide exposure to multiple sectors, which helps reduce market risks and volatility compared to investing in individual stocks directly. This means that if some stocks start performing poorly in your portfolio, others may pick up and help you maintain your overall performance level.

  • Long-term capital appreciation through equities

Since ELSS funds invest predominantly in equity instruments, they are market linked and thus offer higher returns than other 80C investments. Note that, unlike PPF, you don’t get fixed returns with ELSS funds. The returns depend on how well the underlying stocks perform in the market. But if you can stomach the volatility and invest for a longer time frame, the returns can be significantly higher than the fixed-income products.


There are other 80C tax-saving options available, but ELSS funds offer all the advantages of mutual fund investment, including the potential for greater returns and increased diversification, plus an added bonus of getting your investment back in as early as three years. Knowing that you have this flexibility emphasises why many investors prefer to invest in ELSS funds over other 80C tax-saving options. For additional security, it is advisable to seek the assistance of a financial advisor who can help make decisions based on your financial capacity, risk appetite, and expectations from the scheme.

read more

What Does Home Insurance Cover in a Fire?

Whether they are man-made or natural, accidents can happen at any time. Property loss brought on by an unforeseeable accident cannot be understated. While most people invest their entire lifetime’s worth of savings into purchasing a property, they hardly ever realise that the home also needs security. A comprehensive home insurance policy is generally advised because it protects you from mishaps and disasters.

A home insurance policy protects the building’s structure, its contents, any personal property, or both, against any loss or damage brought on by the fire. Comprehensive home insurance pays for the costs of repairing, rebuilding and replacing the building’s structure and the contents in the event of a fire accident.

What is covered by a fire section of homeowners insurance?

Any home insurance policy provides coverage for your home’s components — the building’s structure and contents. A consumer has the option of choosing a cover for the content, the structure, or both.

A homeowner’s policy typically contains multiple different types of coverage, such as:

  1. Dwelling protection: In the event of a calamity, this covers the costs of repairing or rebuilding your home’s structure.
  2. Structure coverage: This insurance covers any detached structures on your land, such as fences, sheds, and garages.
  3. Personal property coverage: This insurance covers your possessions, including furniture, clothing, and electronics. For particular things, like jewellery, you can get a supplementary precious items coverage.
  4. Loss of use coverage: This would pay the increased living costs if, for instance, you had to vacate your home while it was being repaired or rebuilt.
  5. Personal liability insurance: This protects you in the event of a claim and can assist in defraying the expense of your legal defence should you or a member of your family be held accountable for third-party property damage or bodily harm.

The following are some of the dangers listed under the fire section:

  • The insurance covers fixtures and fittings, building expenditures, and renovation costs against fire and related risks.
  • The fire & burglary insurance covers against fire and related risks, as well as burglary, are provided for household appliances, home goods, jewellery, etc.
  • If your home is damaged by an insured peril, such as a fire accident, rent for alternative housing will be provided. Allied perils include calamities and accidents like explosion and implosion, fire, lightning, impact damage, damage by aircraft, storms, cyclones, tempests, typhoon, tornados, flood & inundation, malicious damage, strike, bursting of water tanks, leakage from sprinklers, and bushfire.


Depending on the insurance company, the coverage could differ. Before applying for home insurance, carefully read the policy wording. Use a home insurance calculator to compare and choose the best policy as per your need.

Another important factor in preventing home damage is prevention. Verify the functionality of your smoke alarms, the accessibility of your fire extinguishers, and the readiness of your family’s emergency escape plan. If your home has specific safety features, you can also be qualified for insurance concessions.

We can understand why it’s crucial to ensure that your home is adequately insured if a fire or calamity causes damage. Review your policy carefully to understand what is and isn’t covered, and then talk through your alternatives with your insurance company or agent to help you feel more at ease. To save money on your policy, you can combine your home insurance with another form of policy, like vehicle insurance, from the same provider.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

Source link:

read more

Biggest Cyber Breaches In India

The age of digital technology is here. Due to the expanded use of digital technology across industries, practically anything can now be accomplished through the internet. On the other hand, having a healthy digital presence brings the possibility of a security breach.  It is now critical to use all means and stay safe about your personal information.

According to research, India had 86 million cyber breaches in 2021, placing it third worldwide in terms of the number of cyber breaches. Hence it is essential to have cyber insurance in india. Following are some of India’s most significant data breaches during 2019 and 2021.

  1. Data breach (may 2020)

This particular website serves as an online education platform. It was established in 2015, and some of its earliest backers included some big names in tech. The corporation admitted that a security breach had occurred, which put the accounts of 22 million individuals registered on their website at risk.

The fact that sensitive information like usernames, email addresses, and passwords was placed up for sale on the dark web was brought to light by a cyber security company.

  1. Online Grocery Platform for sale on dark web (october 2020)

A company specialising in cyber intelligence claims that this particular online grocery shopping site had been placed for sale in a marketplace for online criminality.

The right authorities checked for the accuracy of the data that the company was offering for sale, and informed the company on November 1 that a security compromise had occurred. Names, personal identification numbers (PINs), mobile phone numbers, email addresses, dates of birth, IP addresses, and localities were among the data.

  1. On the dark web, you can buy an online payment platform(January 2021)

A web-based platform that was developed specifically for usage in connection with mobile phone-based financial transactions was the target of data breachers at one point. In January 2021, the company disclosed that a server had been breached, resulting in the theft of data that contained the disguised card data and card fingerprints of 35 million consumers.

An unused access key was utilised in the hacking of the data. According to the findings of a cybersecurity researcher, the information was sold on the dark web for five thousand dollars. You may see the relevance of cyber insurance in india when you consider that the data of such large corporations are not always secure.

The cyber insurance coverage covers online risks. It may not be possible to retrieve the data that was compromised; however, it will be possible to receive financial support and assistance if you become embroiled in a legal proceeding.


These were some of the most significant cyberattacks launched against India between 2019 and 2021.

Since cyber-attacks are unavoidable, purchasing cyber security insurance to secure online data is necessary. Ensure that your information is covered by insurance, so you do not have to shoulder the burden alone. With daily technological advancements, it is becoming challenging for the legal system to keep track of all data breaches, let alone bring justice.

In this scenario, the best strategy for businesses, government agencies, and individuals is to implement security measures to prevent these attacks.

‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘

read more