Tuesday, 28 January 2014

Truth About Currency Note Withdrawal (How can you Identify)

Currency Notes  issued before 2005 which does not carry year of printing while the later printed notes will have the year printed on the reverse side. "After March 31, 2014, it (RBI) will completely withdraw such notes from circulation all bank notes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes," the RBI said in a statement.

The public can easily distinguish the currency notes issued before 2005 as they do not have the year of printing on reverse side.

The year of printing in a small font is visible at the middle of the bottom row in notes issued after 2005 (see the image above).
Please Do not to panic with this as this is a notification where people need to cooperate in the withdrawal process, the Reserve Bank of India (RBI) said old notes will continue to be legal and can be exchanged in any bank after April 1.
"From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication," the RBI said.
From July 1, 2014, persons seeking exchange of more than 10 pieces of Rs 500 and Rs 1,000 notes will have to furnish proof of identity and residence to the bank. Although the RBI did not give any reason for withdrawal of pre-2005 currency notes, the move is expected to unearth black money held in cash.
As the new currency notes have added security features, they would help in curbing the menace of fake currency. At present, currency notes in denominations of Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 500 and Rs 1,000 are issued.

Wednesday, 4 December 2013

What is Personal Accidental Insurance? (Explained with some common FAQ’s)

Before beginning we will like to say that in TRUE sense if any policy is to be called as complete insurance policy then it is  this policy.

In simple words any incident causing injury to a person which are resulting solely and directly from an accident caused by EXTERNAL  & VISIBLE means , resulting into death or disablement of a person is covered under this insurance.

Beside common Rail, Road or Air Accident this insurance generally also include incidents like:
  1. Injuries due to any collision or even a simple fall down.
  2. Incident of injury due to fire, “say in as” bursting of cracker or any explosive material.
  3. Also, Injury and burns caused due to chemical reaction etc.
  4. Even A Snake-Bite, Dog Bite causing injuries etc.
  5. Drowning in Water, Gas Poisoning & Electrical Shock are even included.
Above are just some illustrative and not an exhaustive list of type of accidents, but any of these kind of accident need to result in death or disablement of person either permanent or temporary, then only one can claim insurance as per the policy offered by insurance company.

Refer Table for getting some more clarification and understanding on practical basis with some FAQ
(This premium chart is just taken for illustrative purpose only)

Ø  What will be Sum Insured offered to person whose  monthly income is 40,000 and what will be the premium he has to pay?
Let us Consider this Person fall Under GROUP 1 and wants to opt for Plan II
The person can opt for Maximum Sum Insured of 40,000 x 120 times = 48,00,000 (ie 48 Lakh)
As person is from Group 1 the premium which he has to pay for 48,00,000 will be 48 x 90 = 4,320.
However if person want to opt only for lesser value say 30,00,000 charges will be 30 X 90 = 2,700. 
He can opt for any amount less than 48 Lakh but not more than this amount.

Similarly,Say if this person was in Group 2 premium for 48 lakh will be 48 x 146 = 7,008

And if he want to opt for lesser value say 30 lakh again, charges will be 30 X 146 = 4,380

If person is a business man or is getting fixed remuneration his monthly income will be derived according to yearly returns he files or amount gets from his business income and value will be counted accordingly.

Ø  What are classification of Plan & Group, are there any exclusion for this policy ?
Yes, There are exclusion under this policy, similar like other policy Pre Existing Injuries are not considered. Injuries caused or leading to consumption of illegal Drugs or are under influence of liquor etc….., Even incident occurred due to suicidal attempts are not considered.
Also incident caused due to participation in hazardous activities and even sports are not included such as (Car & bike Racing, Jockey etc etc…) For classification refer below picture for understanding the option of Plan & Group.

Ø  Who all can opt or can get this  Accidental Insurance Cover ?
Any person can opt for this policy who generates income from legal source and fall in particular age group and is of sound mind. We see company even offer this to child under Family Group Policy even in some cases only.

Ø  What is difference between Permanent and Temporary Disablement?
Total Loss or unusable state of eyesight, Both Hands, Both Legs limbs, will be considered as permanent disablement and loss of one hand or leg will be consider as permanent partial disablement.
Similarly person getting attack of paralysis (Lakava) and not cureable will be considered as permanent disablement. However if it is curable and person can be cured with in specified period of time it will be considered as temporary disablement. (even person due to accident is out of work, and just cannot go to work due to major facture and injuries will be considered as temporary disablement)

Permanent, Partial & Temporary Disablement Insurance claim is selected and granted by the insurance companies based on the underwriting norms already specified by them and this also has to be declared by the treating doctor and proved on medical grounds.

Ø  Does this policy cover medical expenses incurred due to accident?
Yes you can avail this facility, on payment of additional premium for medical expenses reimbursement to be claimed. Generally 10 to 20% of premium is charged more with particular limitation of expenses to be claimed under same policy.

Ø  Are even the accident caused in Overseas included?
Yes, Claim can be made and will be paid irrespective of place of occurrence but will  be paid in India only. Based on all the document required which are to be provided upto to satisfaction of the company.

Ø  What is the compensation given in  the event of the incident causing TTD ?
In the event of an accidental injury resulting in temporary total disablement ( or in a state yet to be confirmed by the attending physician is PTD )the insured shall be entitled to various  compensation eg: @ 1% of sum insured per week subject to a maximum of weeks mentioned in policy which has certain limitation generally Rs.5,000/- per week, which differ from company to company.

Ø  What if accident occurs and injury is serious where incident such as one hands fingers are only lost which does not come under PDT or TTD?
Very Good point, there can be en-number of such incident where disablement is very serious, in such case certain %age of sum insured (say 5% to 10% will be given as claim) which are already specified in policy documents.

Ø  What if the person is hospitalized and later  death occurs after 4 months?
This is most important point, any Death which occurs within duration of 12 months is entitled to get claim amount where intimation are provided to the company regarding the incident date and is recorded with insurance company and policy is into force either same or renewed.

Believe it Guys this is one of the policy one must have to make your INSURANCE PROTFOLIO complete.  It is specifically recommended to young people who do travel or have taken liabilities on them. This policy rank No 2. among the MUST SEVEN POLICY bought by an individual.

As this policy is cheap and there is very less to earn people giving services in this field do not advocate such policy and even people do some time ignore such important recommendation. If you have any question or query do feel free to call, Comments are always welcome too….

Friday, 22 November 2013

Neither Become Nor Encourage Anyone To Be Sachin Tendulkar (This is Not for Politician)

We  all know Sachin Tendulkar took the decision of Retirement suddenly on a very fine day when he felt he could not continue more and first had this discussion with his wife ANJALI JI. He  himself acknowledged this in his Farewell even. We all Remember this right…! But please you don’t take your retirement decision like him.

What we mean IS… Sachin & Anjali Ji both are exceptional person and please you don’t become or let any one of your beloved become Sachin Tendulkar when it comes to retirement…  because hardly there will be any one, having life partner like ANJALI JI is. Although being  a doctor she acted like a home maker and took responsibility of entire family, While sachin was enjoying Cricket and Serving Nation and was Working Even.... Family responsibility of Sachin Tendulkar was taken care by his wife, Even many of  our wife may be working and supporting us or may be even being a  home maker are taking care of our family too. But We still  need to Think About our Family and Retirement Both NOW….

See Sachin is a big Liar or shall I call him a SMART PERSON, he always said he have never thought about retirement whenever people asked about it… or at times…  he stayed quite,  when critics targeted him and forced retirement over him, He never admitted he had planned for his retirement well in advance.

Dear Friends, If you careful lookin Sachin had planned his Retirement very well… He discussed First with her wife right after her marriage with Anjali Ji.. Who voluntarily scarified her career when they had actually planned…. On his retirement.…  That what even we each one of you need to do… Even you have to talk with your life partner….. TODAY itself if you have not done yet… DO IT NOW…!
Actually Sachin Sir is man of perfection. He had planned all the things very well on time or before time and stayed ahead of all. That’s why we all Love to say and hear SACHINNNNNnnnnnnnn SACHINnnnn……….. Isnt’t It…! See, how wonderfully he just did not start the Retirement right after the marriage by discussing with his life partner…   but even when he planned how his retirement will be he chosen  Anajali Ji only… followed by his family and rest were just informed, he properly planned his retirement day date and time in Mumbai. Think how much must he have planned and discussed. Where he ensured all the things were in place which he never dreamn't  of . (West Indies Tour is just for him. It’s PROPERLY PLANNED)

Similarly we also need to think about RETIREMENT very seriously, because we do not rank among the “The Most Happy Person On Earth” You must be thinking mean…….? Remember these words “The Most Happy Person Is One Whose Work and Hobby Are Same” this was said by Sachin himself. And today HE IS ONE AMONG THE MOST HAPPY PERSON ON THE EARTH. Not because just his work & hobby are same and was successful person. But he has planned everything in his life “I MEAN ALL GOAL OF HIS LIFE” and that what is RETIREMENT.

GUYS… Plan your retirement like how SACHIN ACTUALLY DID…! And don’t become Sachin Tendulkar next time when a Financial Planner calls and ask you have you planned your Retirement. Don't answer like SACHIN JI by saying Financial Planner “I really have not thought about it.. Let me enjoying my (work)  game & when time come I will take decision accordingly and will surely inform you.”

You all must be aware what he said in his farewell, Another Person who he adores is Ajit Ji His brother and His Coach Archerekar Ji among many other, With whom he discussed everything and took all the guidance from them throughout his career. We all know how  well he respected all the small tournament Like Ranji Trophy  and Other Net Practice  and weighted them.
And YES… If you are thinking WHY this all is not for politician…?  Answer is simple… We all know very well.... Politician DON’T RETIRE…..! ;-))

Friday, 24 May 2013

Investment & Insurance (A Balancing Act)

INVESTMENT can only help you to Achieve all your Financial Goals ON Time
INSURANCE can only ensure, any incident do not obstruct  them at ANY Time

These above wordings make everything very much clear what it exactly means... And rest Denotes in the Picture below...

Fig :1.0 (Non Believer of Insurance Product) Mr Wise.


Fig : 2 (Non Believer of  Investment  Product) Mr Hardwork


Wednesday, 27 February 2013


Dear Friends,
There should be some fun always, in what ever we do.. Then... WHY NOT On Our BLOG...?

Fun means to do and experience something Different.. thing to be experience "ALAG" from routine course of action which delivers what we are into too and  etc etc.. and lots of other things... 

So that what we are doing here by saying LETS HAVE SOME FUN....!

Really Don't be an IDIOT...? But there is no HARM becoming SUCH and IDIOT even....!

Start Video now and keep reading below as you need to State your experience by sharing your comments as per below points.

Remember...   every one have to share your comments for this post for sure.. and in this below order.. 

1) Best Scene / Situation : Thing which made you Laugh Like anything...?
2) Best Dialogue : The fundoooooooooooo statement.... ?
3) Mantra Taken From this Video: Lesson which you learnt....?
4) The ? you Have In your Mind Now: Thing which you want to know now....?
5) Your (Name: Place) : Smile's   ;-))

Guys.. Every FUN is Half and Unless and Until We share our experience with others.. It not enjoyed... hence you need to do this... in this order only...

Thanks & Regards…

Guys.. the main motive of posting this video on our blog is just to remove the negativity from minds of people regarding the investment option people hesitate to try and spread message of early saving in minds of YoUng’S

We Sincerely, Thanks & Appreciate IDFC initiative they have taken by this wonderful video.. and have shared it...

We are sure If you have listen to this video careful you will have lots to write in each of the points in all the 5 topics except fifth one, but still share the best you love.. and Mention WHY?