Blog - Page 7 of 15 - Capitalworx

How to Understand SEBI’s Proposal to Allow Mutual Funds to Charge Higher Expenses for Direct Plans

SEBI is considering allowing mutual funds to charge higher expenses for direct plans. This is because direct plans have been growing at a much faster rate than regular plans in recent years. If SEBI goes ahead with this proposal, it could have a significant impact on investors, who could see their expenses go up by a few basis points. Investors can do a few things to prepare for this change, such as comparing the expense ratios of direct and regular plans, considering investing in index funds, and investing in direct plans through a discount broker.

New Tax Rules for Life Insurance Policies with Premiums Exceeding Rs 5 Lakh

The Central Board of Direct Taxes (CBDT) has introduced new tax rules for life insurance policies with premiums exceeding Rs 5 lakh. Under the new rules, sums received from such policies will no longer be exempt from tax, starting from the assessment year 2024-25. This means that policyholders will have to pay tax on the entire amount received, including the sum assured and any bonuses. The new rules apply to all life insurance policies, except unit-linked insurance policies.

Here are some of the key points to note about the new tax rules:

The new rules will only apply to sums received after the assessment year 2024-25.
The new rules do not apply to unit-linked insurance policies.
The new rules will not apply to policies taken for the benefit of a dependent.
Policyholders who have life insurance policies with premiums exceeding Rs 5 lakh should review their policies in light of the new tax rules. If they are concerned about the tax implications, they should consult with a financial advisor.

Your Ultimate Guide to Choosing the Right Coverage for Life Insurance in India

Unlocking the world of life insurance in India is like embarking on a financial adventure. Imagine your loved ones living carefree even if you’re not around – that’s the magic of life insurance. Wondering how much coverage to aim for? Experts recommend 10-15 times your annual income for a secure future. When it comes to the big choice – term insurance vs whole life insurance – simplicity and affordability make term insurance a superhero choice. It’s like a financial safety net, ensuring your family’s well-being. Remember, life insurance is just one puzzle piece; weave it with investments and goals for a masterpiece of financial freedom.

Wise Asset Allocation with Mutual Funds in India – A Layman’s Guide

Are you ready to take charge of your financial future and make your money work harder for you? In this guide, we’ll walk you through wise asset allocation using mutual funds in India. Learn how to set financial goals, assess risk tolerance, and pick the right mutual fund categories like equity, debt, and hybrid funds. Diversify your portfolio, periodically re-balance, and follow safeguards to stay ahead in the investment game. Discover the pros and cons of mutual funds and embrace a simple yet effective approach to achieve your financial dreams. Let’s master mutual funds together and secure a brighter financial future!

Health Insurance Claim Rejections in India – How to Avoid Them

Are you worried about health insurance claim rejections in India? Learn the common reasons behind claim denials and protect yourself with our comprehensive guide. Disclose pre-existing conditions truthfully, understand waiting periods, and keep your policy active through timely premium payments. Read and comprehend policy documents, know what’s covered, and be aware of exclusions. Stick to medical expenses during claim filing, follow cashless guidelines, and avoid incorrect information. Should a claim be rejected, gather evidence, request an explanation, and explore the appeal process. Secure your financial future by navigating health insurance claims with confidence!

Married Couples Financial Planning in India: A Guide to Achieve Long-Term Harmony with Your Money Matters!

Welcome to our guide on Married Couples Financial Planning India, where we’ll help you achieve lasting harmony in your relationship by navigating the realm of money matters. Open communication is key as you create a joint budget, differentiate between needs and wants, and build an emergency fund. Set common financial goals, while maintaining individual financial independence. Tackle debts together, ensure adequate
insurance coverage, and explore investing for a brighter future. Plan for retirement as a team, celebrate milestones, and be open to professional advice. With trust, understanding, and perseverance, you’ll embark on a fruitful financial journey together.

Is Prepaying Your Home Loan a Smart Move? Pros and Cons Explained

Are you tired of the weighty burden of your home loan? Dreaming of a future where you own your home outright, free from monthly installments? Prepaying your home loan might just be the key to achieving that financial freedom. In this blog post, we’ll guide you through the pros and cons of prepaying your home loan in India. Discover how this decision can save you money, unlock opportunities, and potentially reshape your financial future. But wait, don’t jump in just yet! We’ll also uncover some important considerations, like the impact on your credit score, the trade-off in tax benefits, and the need for liquidity. Let’s unravel the complexities and make this important decision simpler for you. It’s time to take charge of your financial destiny and explore the world of home loan prepayment.

Monitoring Your Credit Score: Your Path to Financial Empowerment

Monitoring your credit score and credit report is essential for maintaining financial health. Regularly checking your credit report allows you to review your financial behavior, identify errors or discrepancies, and detect any signs of fraudulent activity. Credit reports provide a comprehensive overview of your credit accounts, payment history, and credit inquiries. In addition to monitoring your credit report, staying informed about your credit score is equally important. Periodic credit score updates help you gauge your creditworthiness and track the impact of your credit management efforts. By monitoring your credit score and report, you can take control of your financial future and make informed decisions to improve your creditworthiness.

Improving Your Credit Score: Tips and Tricks for Better Creditworthiness

Several factors influence your credit score. Your repayment history is a crucial factor, as it reflects your track record of making payments on time. Maintaining a good repayment history is essential for a healthy credit score. Credit utilization, the ratio of credit used to credit available, also plays a significant role. Keeping your credit utilization below 30% is generally recommended for a positive impact. Other factors include the length of your credit history and having a diverse credit mix. By understanding these factors, you can take proactive steps to improve your credit score and open doors to better financial opportunities

Importance of Your Credit Score: Unlocking Financial Opportunities

Credit scores play a crucial role in your financial life. They are three-digit numbers that reflect your creditworthiness and the likelihood of repaying debts. A higher credit score indicates better creditworthiness. Lenders use this score to determine your eligibility for loans and credit cards, as well as the interest rates and credit limits you may receive. CIBIL, one of India’s leading credit bureaus, calculates credit scores based on factors like repayment history, credit utilization, length of credit history, and credit mix. Understanding credit scores and their impact is key to navigating the world of personal finance