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Choosing Health Insurance
How to choose the Best Health Insurance Policy? Health Insurance is designed to take care of one’s healthcare expenses, in case the person faces any sort of medical emergency, be it an illness or an accident that has led to hospitalization(Policies generally cover OPD expenses also). The insured either has to pay such expenses out-of-pocket & is later reimbursed by the insurer or the insurance company settles the bill directly with the hospital. You should pay heed to following points before choosing a health insurance policy: Pre & Post Hospitalization Coverage: When one falls sick, one usually consults a physician and gets relevant investigations done for proper diagnosis. The physician may initially prescribe certain medications. In spite of this treatment, if the condition of the patient does not improve the physician advises the patient to get hospitalized for further management of the disease. Such medical expenses incurred before hospitalization
When investing money for a year which is a better option - fixed deposit ,FMPs or MIP ??
Fixed deposits: Better than savings account are the other investment options like bank fixed deposits schemes. One can invest in a FD with varying maturities. If he needs certain amount of money after 1 year, he can invest in for 1 year FD for that much amount and for other amount can have FDs of different maturity. This will help him meet the liquidity needs and also earn interest. He can go for the regular returns options like the quarterly or half-yearly payout options. Else, he can choose interest re-investment option. However, remember that interest income earned in FD and savings account is taxable. FMPs: Fixed Maturity Plans (FMPs) are income/debt schemes giving a fixed return over a period of time. They are actually similar to fixed deposits in banks. The maturities offered were varied, going from one month to three years. They are close ended schemes, which are open only for a fixed period of time during the initial offer. While the money is locked, FM
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