Prajna Capital

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• What is a Comprehensive Health Cover ?
• SBI Magnum Equity
• Choose from multiple health insurance policies

What is a Comprehensive Health Cover ? Posted: 04 Jul 2013 05:25 AM PDT Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   The last few years have seen a surge in various types of health insurance products being launched by various insurance companies. More and more people today are increasingly getting health conscious and many, in fact, are also buying various health insurance products to cover their families from unexpected hospitalisation. With nearly 15– 20 insurance companies offering several variants of health insurance products, finalising the right product which suits your requirement can be quite a task. Should you go for a plain vanilla health insurance or also include add on covers? Should you go for an individual plan or a family floater? The following product categorisation enumerates the pros and cons and should help in enabling you to take the right decision. Health insurance products can be categorised as: Hospitalisation benefit policy : This is the standard health insurance policy which covers hospitalisation expenses when the insured is admitted to the hospital for at least 24 hours for illness or injury. Several such policies also cover day care surgeries which are medical procedures for which 24 hour hospitalisation is not required. It also covers medical expenses incurred 30 days before hospitalisation and 60 days post discharge. The cover commences only after the first 30 days during which only accidental related hospitalisation is covered. There are other waiting periods of up to two years for specific illnesses while pre- existing illnesses are excluded for first three four years. One can either cover the entire family comprising self, spouse and kids under a single cover which is known as family floater or can cover them individually so each member has a separate cover ( sum assured). This type of policy should form the first level of health coverage for every family as it is the only comprehensive health policy in the entire product basket. Such policies offer covers ranging from ₹ 1 lakh to 50 lakh. Top up policy : This policy is designed to enhance your existing health cover provided by the hospitalisation reimbursement policy mentioned above. They cover hospitalisation costs which exceed a minimum voluntary threshold. For example, if you already have a ₹ 5 lakh hospitalisation reimbursement policy and want to increase your cover to, may be, ₹ 10 lakh, they you can buy a top up health policy of ₹ 10 lakh. This will not pay you for claims up to ₹ 5 lakh as you can very well claim that amount from your existing insurer. It will only pay you the amount exceeding ₹ 5 lakh. These policies pay claim only when any single claim exceeds the limits set by the policy. Presently, such policies offer cover up to ₹ 15 lakh. Critical illness policies : These policies cover only specific critical illnesses such as cancer, heart attack, kidney transplant, and so on. They do not provide any type of reimbursement towards hospitalisation expenses incurred on other ailments. This policy provides a lump sum payment, which is typically the sum assured of your policy. For example, if a policy holder having a ₹ 5 lakh critical illness policy, is diagnosed for kidney failure and the actual expenses towards the hospitalisation and transplant cost ₹ 6 lakh, he will only receive the sum assured, which is ₹ 5 lakh. This is a one- time payment given to the policy holder if he/ she suffers from any of the critical illnesses mentioned in the policy and also survives for 30 days from the date of diagnosis. In most cases the policy ceases to exist once the critical illness claim is paid. The number of critical illnesses covered vary from company to company and can range from a minimum of eight to 30 illnesses. A variant to these policies are "Surgical benefit" policies, which cover specific list of surgeries and they, too, pay a lump sum benefit which can be a percentage of the sum assured depending on the surgery. Considering the increasing healthcare costs and for families with a history of critical illnesses, it is advisable to take this type of policy in addition to your basic hospitalisation policy. Both life and general insurance companies offer critical illness covers. Hospital Cash Policy : As the name suggests these policies provide daily cash which can range from a minimum of ₹ 500 for each day of hospitalisation. They do not cover any medical expenses and are designed to cover any incidental costs incurred due to hospitalisation such as transportation, food, and so on which are not covered by reimbursement policies. The daily cash benefits are paid for maximum up to 30- 60 days of hospitalisation. The premium depends on the daily cash benefit limits that are selected. Instead of these policies, it is advisable to enhance your existing comprehensive hospitalisation benefit policies. Unit linked health policies : These type of policies are offered by select life insurance companies and are designed to cater to the dual requirement of covering hospitalisation expenses and creation of a health fund to meet any additional expenses which may not be covered by regular insurance policies. A part of the premium is used for providing hospitalisation cover while rest is invested in funds of your choice for the creation of a "Health fund" from where you can withdraw to meet any additional hospitalisation expenditure after three years of commencement of the policy. Withdrawals are permitted only for the purpose of meeting the additional expenses towards hospitalisation. While the concept of health fund is good, the overall charges can be a dampener. It is advisable to take a separate comprehensive hospitalisation policy and invest the money separately for the creation of a health fund. While evaluating health cover products, one should focus on comprehensive cover and depending on your requirement and affordability one should choose the health product wisely. Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C. Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving) Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications These Application Forms can be used for buying regular mutual funds also Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds ) ICICI Prudential Tax Plan Invest Online HDFC TaxSaver Invest Online DSP BlackRock Tax Saver Fund Invest Online Reliance Tax Saver (ELSS) Fund Invest Online Birla Sun Life Tax Relief '96 Invest Online IDFC Tax Advantage (ELSS) Fund Invest Online SBI Magnum Tax Gain Scheme 1993 Invest Online Sundaram Tax Saver Invest Online Edelweiss ELSS Invest Online ------------------ Best Performing Mutual Funds Largecap Funds Invest Online DSP BlackRock Top 100 Fund ICICI Prudential Focused Blue Chip Fund Birla Sun Life Front Line Equity Fund Large and Midcap Funds Invest Online ICICI Prudential Dynamic Plan HDFC Top 200 Fund UTI Dividend Yield Fund Mid and SmallCap Funds Invest Online Reliance Equity Opportunities Fund DSP BlackRock Small & Midcap Fund Sundaram Select Midcap IDFC Premier Equity Fund Small and MicroCap Funds Invest Online DSP BlackRock MicroCap Fund Sector Funds Invest Online Reliance Banking Fund Reliance Banking Fund Tax Saver MutualFunds Invest Online ICICI Prudential Tax Plan HDFC Taxsaver DSP BlackRock Tax Saver Fund Reliance Tax Saver (ELSS) Fund Gold Mutual Funds Invest Online Relaince Gold Savings Fund ICICI Prudential Regular Gold Savings Fund HDFC Gold Fund Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now

SBI Magnum Equity Posted: 04 Jul 2013 04:39 AM PDT Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India) A large-cap growth fund, it invests in top-100 Indian stocks based on their market capitalisation. The fund maintains a reasonable benchmark coverage, i.e., a good part of its portfolio has to be in line with the benchmark. The fund endeavours to beat the benchmark (generate alpha) with its stock preference. However, there are internal limits to a relative position in a stock compared to its benchmark. Till 2009, the fund used to change its character with the market. The fund manager generally doesn't hold more that 10 per cent in cash. In its long history, the average allocation to equity has been 92 per cent. In the past one year, the cash has not exceeded 3 per cent.   Performance The fund has beaten its benchmark in 9 of the last 10 calendar years. The exception was 2008 when it fell by 4.5 per cent more than Nifty, its benchmark. The change in orientation in 2009 has helped the fund earn little more than its peers. In the lean year of 2011, the fund was impressive, limiting its fall to 20 per cent compared to a 25 per cent decline in its benchmark.   The long-term return from the fund has been impressive. Since its launch in 1990, the fund has posted an annual return of 15.33 per cent. In the past 10 years, the fund has posted 25.34 per cent annual return which is nearly 25 per cent more than the average of its peers and the benchmark. In the past 5 years, the fund has earned 6 per cent annual returns which is twice the average of its peers and the benchmark. Infosys, Reliance Industries, L&T, BHEL, Tata Motors, ITC, M&M and Bharti Airtel have been integral part of its portfolio. Of these, Infosys, ICICI and HDFC Bank has often been nearly 10 per cent of its portfolio. For other stocks, the fund has limited its exposure to 5 per cent. In the past 1 year, its deviation in a specific stock has not exceeded more than 4 per cent, relative to the stock's weight in benchmark.   Why invest? Given its strategy, the fund will remain a disciplined large cap fund. A credible performance track-record makes its an attractive choice. Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C. Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving) Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications These Application Forms can be used for buying regular mutual funds also Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds ) ICICI Prudential Tax Plan Invest Online HDFC TaxSaver Invest Online DSP BlackRock Tax Saver Fund Invest Online Reliance Tax Saver (ELSS) Fund Invest Online Birla Sun Life Tax Relief '96 Invest Online IDFC Tax Advantage (ELSS) Fund Invest Online SBI Magnum Tax Gain Scheme 1993 Invest Online Sundaram Tax Saver Invest Online Edelweiss ELSS Invest Online ------------------ Best Performing Mutual Funds Largecap Funds Invest Online DSP BlackRock Top 100 Fund ICICI Prudential Focused Blue Chip Fund Birla Sun Life Front Line Equity Fund Large and Midcap Funds Invest Online ICICI Prudential Dynamic Plan HDFC Top 200 Fund UTI Dividend Yield Fund Mid and SmallCap Funds Invest Online Reliance Equity Opportunities Fund DSP BlackRock Small & Midcap Fund Sundaram Select Midcap IDFC Premier Equity Fund Small and MicroCap Funds Invest Online DSP BlackRock MicroCap Fund Sector Funds Invest Online Reliance Banking Fund Reliance Banking Fund Tax Saver MutualFunds Invest Online ICICI Prudential Tax Plan HDFC Taxsaver DSP BlackRock Tax Saver Fund Reliance Tax Saver (ELSS) Fund Gold Mutual Funds Invest Online Relaince Gold Savings Fund ICICI Prudential Regular Gold Savings Fund HDFC Gold Fund Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now

Choose from multiple health insurance policies Posted: 04 Jul 2013 02:12 AM PDT Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   How to choose from multiple health insurance policies in case of a claim is a question asked time and again.   "My employer already provides health insurance for my entire family. Should I take individual cover, too?" Earlier, this was often asked. Nowadays, most people buy individual health insurance policies as well, due to concern on coverage after retirement, as most employer policies don't provide for this. Employers are cutting total coverage amounts, as well as coverage of parents due to soaring premium costs; hospitalisation costs have risen sharply and have rendered employer policy limits inadequate. Also, not having an individual health policy restricts job mobility, as prospective employers may not provide health insurance benefits. The widespread practice of buying individual health insurance policies by employees whose employers offer group insurance has led to a fresh question:  In case of a claim, should I claim on my employer policy or on my individual policy?" Before February 2013, the answer was fairly easy. Most policies, including group policies, had a' contribution' clause, under which the policy holder had to inform all the insurance companies concerned, and the insurance companies would pay the claim in proportion to the coverage provided by them. Now, according to regulations, the consumer has a choice: He can choose any of the policies that cover a particular claim and the insurance company cannot insist on the payment proportionate to the contribution clause. So, how should a consumer exercise this choice? Here are our recommendations: 1. If the claim arises in respect of family members with a pre- existing disease, use the employer group policy, as the claim process would be easy 2. If you don't have a family member with a pre- existing disease, you should use the group policy, so that you don't lose your accumulated bonus and/ or be hit with premium loading during the renewal of the individual policy 3. If the claim arises in respect of people with no pre- existing disease but you have family members with such a disease, it is better to use the individual policy and reserve the group policy for family members with such a disease As is evident, group policies usually cover all pre- existing diseases and, therefore, the claim process and the cashless process are much easier for group policies. In fact, people choose to make a claim on the group policy simply because cashless facility is easily available, compared to an individual policy. But if you are faced with a situation akin to point 3 mentioned above, it might be a good idea to try to get the cashless facility on the individual policy as well and, in the worst- case scenario, to pay the bill yourself and seek reimbursement later. Just ensure you also intimate the insurance company that provides the group policy about a potential claim as soon as hospitalisation occurs, and pursue the cashless facility with the other insurance company. Even if you don't get the cashless facility and you feel your claim might be rejected, you retain the right to make a claim on the group policy on a reimbursement basis. Of course, if the claim amount is such that it cannot be covered by one policy, you may have no choice but to make a claim from both the insurance companies, which would pay on a proportionate basis. How you choose the policy on which you would make a specific claim could significantly affect your ability to secure claims. With hospitalisation costs soaring, a wise step in this direction could significantly improve your ability to weather something unexpected. So, choose wisely. Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C. Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving) Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications These Application Forms can be used for buying regular mutual funds also Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds ) ICICI Prudential Tax Plan Invest Online HDFC TaxSaver Invest Online DSP BlackRock Tax Saver Fund Invest Online Reliance Tax Saver (ELSS) Fund Invest Online Birla Sun Life Tax Relief '96 Invest Online IDFC Tax Advantage (ELSS) Fund Invest Online SBI Magnum Tax Gain Scheme 1993 Invest Online Sundaram Tax Saver Invest Online Edelweiss ELSS Invest Online ------------------ Best Performing Mutual Funds Largecap Funds Invest Online DSP BlackRock Top 100 Fund ICICI Prudential Focused Blue Chip Fund Birla Sun Life Front Line Equity Fund Large and Midcap Funds Invest Online ICICI Prudential Dynamic Plan HDFC Top 200 Fund UTI Dividend Yield Fund Mid and SmallCap Funds Invest Online Reliance Equity Opportunities Fund DSP BlackRock Small & Midcap Fund Sundaram Select Midcap IDFC Premier Equity Fund Small and MicroCap Funds Invest Online DSP BlackRock MicroCap Fund Sector Funds Invest Online Reliance Banking Fund Reliance Banking Fund Tax Saver MutualFunds Invest Online ICICI Prudential Tax Plan HDFC Taxsaver DSP BlackRock Tax Saver Fund Reliance Tax Saver (ELSS) Fund Gold Mutual Funds Invest Online Relaince Gold Savings Fund ICICI Prudential Regular Gold Savings Fund HDFC Gold Fund Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now

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