Prajna Capital

What is Fuel Surcharge on Credit Card?
Cancer Insurance in India
Birla Sun Life Top 100 Fund – Large Cap Fund

Posted: 30 Dec 2015 05:39 AM PST

What is Fuel Surcharge on Credit Card and how to get it waived off ?

With the wide acceptance of credit cards at almost all merchants, A lot of people today carry very less cash in their pockets. This provides convenience to you as there is no need not worry about carrying adequate cash for payments. What you may not know is that for providing you with this ease the merchants bear a cost for every transaction which is payable to the bank. This cost is different for every bank and the type of merchant.

Fuel Surcharge
Fuel is a necessary commodity and million of people pay for fuel everyday using their credit card. Now, there is an extra charge to be paid to banks for the use of credit cards to pay, but fuel companies never would want to bear this additional cost for credit/debit card transactions because fuel is a necessity and people will anyways buy fuel no matter what the payment mode is. So they ask their customer to pay the cost attached with making the payment through credit/debit card. which is called Fuel Surcharge and generally its around 2.5% and varies with respect to the relationship between point of sale terminal vendors and the bank of customer.

How to get Fuel Surcharge waived off ?
Opt for a fuel based credit card. Banks have found this as a very good space to target a special class of people who get their vehicles fueled frequently and hence most of the banks have launched credit and debit cards with special benefits."Fuel surcharge waiver" and additional benefits on filling fuel using these credit cards is being used as one of the major features. Bank tie-up with fuel companies to design special credit and debit cards with fuel benefits at specific fuel pumps. While other banks offer waiver on all fuel outlets.

Following are some of the fuel credit cards you can apply for and save on your fuel spends:

1. Standard Chartered Super Value Titanium:

5% cashback on fuel, telecom bills & utility bill payments & 1 reward point per Rs. 100 spent elsewhere.
1,000 bonus points on 5 or more transactions in the first 60 days.
Redeem reward points 360° rewards catalogue by Standard Chartered Bank.
Joining fee – Rs. 499 & Annual fee – Rs. 750 Year 2 onwards.

2. ICICI Bank HPCL Coral:

Get 2.5% cashback & 2.5% surcharge waiver & 5 PAYBACK points per Rs. 100 spent at HPCL Pumps.
2 points per Rs. 100 spent elsewhere.
Redeem points at PAYBACK, India's largest multi-brand loyalty program.
2 Free movie tickets per month at www.bookmyshow.com.
Minimum 15% discount on dining through the Culinary Treats program.
Joining fee – Rs. 199 & Annual fee – Rs. 199 Year 2 onwards.

3. IndianOil Citibank Platinum Card:

4 Turbo points per Rs. 150 spent at Indian Oil outlets & other featured partners & 2 points per Rs. 150 spent on grocery & supermarkets.
1 point per Rs. 150 spent elsewhere.
Redeem points instantly for cashback or shopping, fuel , entertainment, travel & more.
Redemption rate of 1 Turbo Point equivalent to Re. 1 of free fuel at IOC outlets
2.5% fuel surcharge waiver at Indian Oil outlets.
Up to 20% discount on dining.
Annual fee – Rs. 1,000. (Waived if annual spends cross Rs. 30,000).

There are many more banks and cards which provide a lot of savings on fuel spends and choosing the best one is really important, Rupeepower also helps you comparing cards from different banks.

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Cancer Insurance in India

Posted: 30 Dec 2015 05:09 AM PST

Health Insurance for Cancer in India

Being one of the deadliest disease, cost of cancer treatment in India whether it is breast, lung, liver cancer etc. is extremely high as it involves chemotherapy, radiation therapy and many other diagnostic tests along with hospitalization expenses. And for a middle class family this high cost drains out their life long savings and more over there is no guarantee for the patients survival. So that is why buying insurance for cancer has become quintessential. Moreover in India every year over 15 Lac cases of cancer are detected and nearly 8 lac people succumb to it. As this number is rising along with the treatment cost, people buying health insurance for cancer is on rise.

In India, insurance for cancer patients is available which covers you against this disease and that too at a very less premium and this has resulted in increased survival rate as patients could now afford treatment costs covered under an insurance policy. Most importantly people aged between 36-55 claims are the highest. As per the claims data, in the year 2011-12 over 45000 claims for cancer were made and overall settlement amount reached to a whopping 163 Crores. According to the experts cancer is the 4th highest among all health conditions for which claims are paid.

Cancer Insurance Providers in India

Currently in India many providers offers medical insurance policies for cancer patients but of these ICICI prudential and venture between Indian Cancer Society (ICS) and The New India Assurance Company Limited (NIA) are the best both in terms of cost, policy coverage amongst many other factors. However there are many terms and conditions in order to avail the benefits.

Most important ones for the insurance for cancer provided by ICS and NIA as follows:

Insurance of cancer is only for the people with no history of cancer and the person has to submit certificate stating good health condition
Entry age of person should be up to 70 years
If cancer is detected within the first 3 months or (90 days) of buying an insurance policy then your cover is terminated
Every quarter claims are reimbursed and that too until the entire sum is exhausted
Insurance covered is INR 50000+5% additional sum insured upto INR 75000 for every claim to be renewed for an annual premium of INR 421 for a couple. If you want an extension and add 1 dependent child then you can do so by paying an additional amount of INR 111. For another child you will have to add INR 110 more. So total amounts to INR 221.
Insurance covered and INR 2,00,000 (2 Lacs) + 5% additional sum insured upto INR 3,00,000 (3 Lacs) for every claim to be renewed for an annual premium of INR 1082 for a couple. For including 2 children as dependents you will need to add INR 221.

However as mentioned above, your child should be of minimum 1 year and maximum 20 years in order to add them as a dependent.

For additional details person can E-mail ICS at ics_mumbai@yahoo.com or contact on phone: 022-24125238/24139445

Also listed below are the terms and conditions, benefits by ICICI cancer care plus:

Their cancer insurance policy sufficiently offers coverage for the cost of diagnosis, hospitalization, chemotherapy, biopsy etc.
Entry age 20-60 years
Sum assured INR 5 Lac – 25 Lac
Policy term is 365 days i.e. 1 year
Annual premium for men and women for a cover of 10 Lac is INR 4604-8945 and INR 8602-14845 respectively