30/09/11
Sensex
16453(-244)
Nifty
4943(-72)
$
49.13
Gold
25936
Silver
52113
CRUDE
$82.04
~
http://samparkonline.co.in
Sensex
16453(-244)
Nifty
4943(-72)
$
49.13
Gold
25936
Silver
52113
CRUDE
$82.04
~
http://samparkonline.co.in
At Sampark Online Finserv LLP, we provide financial advice and distribute various investment products with the most efficient & widest range, customized specifically to your NEEDS..@ Whether you are keen on small investments or playing it big, We provide financial advice and distribute various investment/financial products with the most efficient & widest range, customized specifically to your NEEDs.
Friday, September 30, 2011
Global Crisis will not Hit India in a BIG way
Dfference between the 2008 crisis and 2011: In 2008, no one was expecting the markets to fall or the crisis to happen. It just happened overnight. So there was an element of shock. This time, were known for several years that Iceland, Ireland, Spain, Portugal, Italy etc are under stress. So, this time the shock value is missing.
What could be done to avert a crisis
As far as India is concerned, the impact on the economy should be very limited. This is because we do not have any material investments in these geographies. Even the exports to the troubled countries are very small.
What could be done to avert a crisis
As far as India is concerned, the impact on the economy should be very limited. This is because we do not have any material investments in these geographies. Even the exports to the troubled countries are very small.
TODAY's MOTTO :
To
start
a relationship
Both
person
should agree to it..
But
to end
a relationship
only one person's decision is enough..@
GD~MNG
start
a relationship
Both
person
should agree to it..
But
to end
a relationship
only one person's decision is enough..@
GD~MNG
Thursday, September 29, 2011
The early bird guide to planning :
Conventional images of the retired would have them pruning roses, playing golf, sipping tea or strolling by the seaside. But we might not be able to lead such a leisurely life after retirement unless we have planned wisely. "The most important part of retirement planning is knowing when you can retire and when you can't," says Kapil Mehta, CEO, DLF Pramerica Life Insurance. So, as the first step, you'll need to find out when you will have enough to live on without being compelled to return to income-generating activities when you are over 60. This will help you decide on an adequate retirement income and then you can work towards creating a corpus that can provide it.
While calculating the ideal retirement income, consider when you wish to retire, how long the corpus should last and what kind of lifestyle you wish to sustain in retirement. Also, factor in rising prices, the rate of inflation and increased interest rates.
A rule of thumb is to save 15 per cent of your pay for retirement regularly and over a long period of time. However, if you start later, you will need to save a higher percentage of pay (see How Much to Save). Which is why someone like Anirban Bora should, ideally, not wait much longer. When asked about his retirement plans, the 28-year-old Kolkata-based engineer laughs it off. "You must be kidding. Who is thinking of retirement now? It is too far away," he says.
This mindset is not exclusive to Bora. In fact, a recent Nielsen Consumer Confidence survey covering 14,029 consumers in Europe, Asia and North America found that nearly six out of 10 Indians put their spare cash in savings, but a mere 4 per cent drop it in the retirement kitty. With increased life expectancies, thanks to advances in healthcare and improved lifestyles, this corpus has to last a far longer period than ever before. This is why experts reiterate the importance of planning early for retirement.
Starting early lets you save more as you have a longer working life ahead of you. It also allows the power of compounding to work in your favour. "It's a lifelong process, not something that you plan for when you are nearing it," says Rishi Nathany, Kolkata-based financial planner and Director, Touchstone Wealth Planners.
The other advantage of starting early is that it gives you time to correct any flaws in your financial plan. "The advent of nuclear families, rising healthcare costs, and fluctuating interest rates and stock market returns can make some of the best-laid retirement plans go awry," says Vishal Gupta, Director, Marketing, Aviva Life Insurance.
No matter when you decide to start, make sure your corpus has two essential components: Liquidity and growth. Liquidity will give you regular income and cover contingencies and growth will ensure that your corpus takes care of future expenses and protects your standard of living. "Unlike the working years, when you have a steady source of income, the retirement years will see you creating a mix of regular income streams to manage essential expenses through regular cash flows," says Rohit Sarin, Cofounder and Partner, Client Associates.
You might also need lump-sum amounts to meet specific capital requirements, say for home repairs or travelling abroad to visit your children. The most important aspect of a retirement plan is that it should last you a lifetime. Just putting together a large corpus is not enough. You will also need to factor in the returns you will earn on this corpus, the prevailing rate of inflation and how much you withdraw from the savings pool.
Obviously, some of these factors cannot be quantified or controlled. But others can be managed well. Here's how you can do it:
Own a Home: Any planner or adviser will tell you that for a retirement plan to work, you will need adequate medical insurance, as well as a home. Both provide security in old age. More importantly, a house could also be a potential source of income. Take Bangalore-based A.S. Mahadevan. The 52-year-old plans to retire in four years and decided to buy a house to augment his income stream. He lives with his parents and knows that he will always have a roof over his head. He took a home loan to buy a house, rented it out and uses the rental income to pay the monthly installments.
R. Muralidharan, a 55-year-old, Delhi-based scientist, has followed a similar strategy. "Both my children are in the US pursuing higher studies and that takes care of their careers. I am soon going to move into a bigger home which will be sufficient for me to retire in with my parents," he says. To buy the bigger house, Muralidharan sold his small apartment and took a home loan to make up the shortfall. Some planners believe that it is risky to take a home loan at this age, but Muralidharan is convinced that his gamble will pay off. The bigger house is more in line with the lifestyle he wants after retirement, and the tax benefit he's getting on the home loan is icing on the cake.
But what if you can't afford a house? Rathnesh Rao has reason to worry. "I had other commitments earlier in life and am yet to find a house that I can afford and retire in," says the 50-year-old Hyderabad resident. It's never too late to start, but you have to be aware of the handicap you'll start with. "In your 50s, you can't hope for stupendous growth, and if you have been risk-averse all these years, you are unlikely to be risk-friendly now," says Sarin, the Client Associates Partner. In such cases, you have to either rescale your financial goals, including compromising on the standard of living you plan to maintain, or look at a second career to try and build the nest egg.
Insure Your Health: Health insurance is essential for your retirement. Like most aspects related to financial planning, it helps if you get this early on. That is, when insurance companies are willing to give you medical cover with few questions asked, and your premium payments are also manageable. Leave it for later, and you might not be able to get adequate cover. Moreover, you'll have to shell out a fortune on premium.
Investment Strategy: A standard retirement plan consists of two parts - wealth accumulation and withdrawal. In the accumulation phase, ensure that you have a good mix of financial assets, be it debt or equity, and real assets like property, gold, collectibles, etc. Those who are employed in companies that offer the provident fund facility, by default, have been saving for retirement.
This is an assured return scheme and takes care of the debt component of your retirement planning corpus. "In your late 40s and 50s, consider choosing investments in debt instruments to get an asset allocation that will have adequate cushion to manage equity volatility," says Zankhana Shah, Mumbai-based financial planner and Founder, Money Care, a financial planning firm.
However, for wealth creation, one should consider equities as an option. "Once you have assessed your risk profile, you can invest heavily in equities and leave the debt portion to your provident fund contribution," advises Shah. A mix of equities, equity mutual funds and equity-linked insurance products that can serve the purpose of wealth creation will fit the retirement planning stage.
All of this still leaves you with the element of surprise-the unexpected event that could demolish your carefully constructed plan. This is why it's essential to create a flexible plan that can be reprioritised. For instance, if you save 25 per cent a month for retirement but have to bankroll an unforeseen expenditure, you can cut back the nest egg contribution to say 5-10 per cent for a few months and then scale up at the first opportunity.
Yet, there are several people who have spent far more than anticipated on their children's education or, perhaps, on an aged parent's healthcare. "Events such as these might force you to draw from your retirement savings and look at growth investments late in life," says B. Srinivasan, a Bangalorebased financial planner. This is among the cardinal sins of financial planning.
Financial planners suggest that if you do not have a specific fund or plan for a goal, it's better to go slow on an existing plan than to wipe it out completely. "This way, you don't touch your corpus for each of your financial goals," he adds.
Obviously, planning for retirement is more than just putting away a tiny sum in a pension plan. Start planning early, and plan smart. This is the only way you can save enough in your retirement fund to let you prune the roses in your sunset years, without a care.
MAKING UP FOR LOST TIME
Try these strategies to build a retirement corpus in a short span of time.
Prepare to stretch your work life
Think of a second career, pushing back your retirement age to at least 65 years. If you have started planning really late, consider working till you are 70.
Plan for adequate cover and insure all risks
Cover all risks, be it life, assets, health or business. Shop for high-value covers with the least possible premium since you can't afford large outflows.
Prioritise your goals
If you need to choose between your child's education and your nest egg, consider taking an education loan to bankroll his studies while retaining your retirement plan.
Buy a house
Experts estimate that housing accounts for about a third or more of a monthly budget. Late starters need to get a house as soon as possible.
Create post-retirement income
A job that gives you good retirement benefits takes care of half your problems. But also invest in equities for growth. It won't be a risk since you will probably postpone retirement.
~
Source : BT
While calculating the ideal retirement income, consider when you wish to retire, how long the corpus should last and what kind of lifestyle you wish to sustain in retirement. Also, factor in rising prices, the rate of inflation and increased interest rates.
A rule of thumb is to save 15 per cent of your pay for retirement regularly and over a long period of time. However, if you start later, you will need to save a higher percentage of pay (see How Much to Save). Which is why someone like Anirban Bora should, ideally, not wait much longer. When asked about his retirement plans, the 28-year-old Kolkata-based engineer laughs it off. "You must be kidding. Who is thinking of retirement now? It is too far away," he says.
This mindset is not exclusive to Bora. In fact, a recent Nielsen Consumer Confidence survey covering 14,029 consumers in Europe, Asia and North America found that nearly six out of 10 Indians put their spare cash in savings, but a mere 4 per cent drop it in the retirement kitty. With increased life expectancies, thanks to advances in healthcare and improved lifestyles, this corpus has to last a far longer period than ever before. This is why experts reiterate the importance of planning early for retirement.
Starting early lets you save more as you have a longer working life ahead of you. It also allows the power of compounding to work in your favour. "It's a lifelong process, not something that you plan for when you are nearing it," says Rishi Nathany, Kolkata-based financial planner and Director, Touchstone Wealth Planners.
The other advantage of starting early is that it gives you time to correct any flaws in your financial plan. "The advent of nuclear families, rising healthcare costs, and fluctuating interest rates and stock market returns can make some of the best-laid retirement plans go awry," says Vishal Gupta, Director, Marketing, Aviva Life Insurance.
No matter when you decide to start, make sure your corpus has two essential components: Liquidity and growth. Liquidity will give you regular income and cover contingencies and growth will ensure that your corpus takes care of future expenses and protects your standard of living. "Unlike the working years, when you have a steady source of income, the retirement years will see you creating a mix of regular income streams to manage essential expenses through regular cash flows," says Rohit Sarin, Cofounder and Partner, Client Associates.
You might also need lump-sum amounts to meet specific capital requirements, say for home repairs or travelling abroad to visit your children. The most important aspect of a retirement plan is that it should last you a lifetime. Just putting together a large corpus is not enough. You will also need to factor in the returns you will earn on this corpus, the prevailing rate of inflation and how much you withdraw from the savings pool.
Obviously, some of these factors cannot be quantified or controlled. But others can be managed well. Here's how you can do it:
Own a Home: Any planner or adviser will tell you that for a retirement plan to work, you will need adequate medical insurance, as well as a home. Both provide security in old age. More importantly, a house could also be a potential source of income. Take Bangalore-based A.S. Mahadevan. The 52-year-old plans to retire in four years and decided to buy a house to augment his income stream. He lives with his parents and knows that he will always have a roof over his head. He took a home loan to buy a house, rented it out and uses the rental income to pay the monthly installments.
R. Muralidharan, a 55-year-old, Delhi-based scientist, has followed a similar strategy. "Both my children are in the US pursuing higher studies and that takes care of their careers. I am soon going to move into a bigger home which will be sufficient for me to retire in with my parents," he says. To buy the bigger house, Muralidharan sold his small apartment and took a home loan to make up the shortfall. Some planners believe that it is risky to take a home loan at this age, but Muralidharan is convinced that his gamble will pay off. The bigger house is more in line with the lifestyle he wants after retirement, and the tax benefit he's getting on the home loan is icing on the cake.
But what if you can't afford a house? Rathnesh Rao has reason to worry. "I had other commitments earlier in life and am yet to find a house that I can afford and retire in," says the 50-year-old Hyderabad resident. It's never too late to start, but you have to be aware of the handicap you'll start with. "In your 50s, you can't hope for stupendous growth, and if you have been risk-averse all these years, you are unlikely to be risk-friendly now," says Sarin, the Client Associates Partner. In such cases, you have to either rescale your financial goals, including compromising on the standard of living you plan to maintain, or look at a second career to try and build the nest egg.
Insure Your Health: Health insurance is essential for your retirement. Like most aspects related to financial planning, it helps if you get this early on. That is, when insurance companies are willing to give you medical cover with few questions asked, and your premium payments are also manageable. Leave it for later, and you might not be able to get adequate cover. Moreover, you'll have to shell out a fortune on premium.
Investment Strategy: A standard retirement plan consists of two parts - wealth accumulation and withdrawal. In the accumulation phase, ensure that you have a good mix of financial assets, be it debt or equity, and real assets like property, gold, collectibles, etc. Those who are employed in companies that offer the provident fund facility, by default, have been saving for retirement.
This is an assured return scheme and takes care of the debt component of your retirement planning corpus. "In your late 40s and 50s, consider choosing investments in debt instruments to get an asset allocation that will have adequate cushion to manage equity volatility," says Zankhana Shah, Mumbai-based financial planner and Founder, Money Care, a financial planning firm.
However, for wealth creation, one should consider equities as an option. "Once you have assessed your risk profile, you can invest heavily in equities and leave the debt portion to your provident fund contribution," advises Shah. A mix of equities, equity mutual funds and equity-linked insurance products that can serve the purpose of wealth creation will fit the retirement planning stage.
All of this still leaves you with the element of surprise-the unexpected event that could demolish your carefully constructed plan. This is why it's essential to create a flexible plan that can be reprioritised. For instance, if you save 25 per cent a month for retirement but have to bankroll an unforeseen expenditure, you can cut back the nest egg contribution to say 5-10 per cent for a few months and then scale up at the first opportunity.
Yet, there are several people who have spent far more than anticipated on their children's education or, perhaps, on an aged parent's healthcare. "Events such as these might force you to draw from your retirement savings and look at growth investments late in life," says B. Srinivasan, a Bangalorebased financial planner. This is among the cardinal sins of financial planning.
Financial planners suggest that if you do not have a specific fund or plan for a goal, it's better to go slow on an existing plan than to wipe it out completely. "This way, you don't touch your corpus for each of your financial goals," he adds.
Obviously, planning for retirement is more than just putting away a tiny sum in a pension plan. Start planning early, and plan smart. This is the only way you can save enough in your retirement fund to let you prune the roses in your sunset years, without a care.
MAKING UP FOR LOST TIME
Try these strategies to build a retirement corpus in a short span of time.
Prepare to stretch your work life
Think of a second career, pushing back your retirement age to at least 65 years. If you have started planning really late, consider working till you are 70.
Plan for adequate cover and insure all risks
Cover all risks, be it life, assets, health or business. Shop for high-value covers with the least possible premium since you can't afford large outflows.
Prioritise your goals
If you need to choose between your child's education and your nest egg, consider taking an education loan to bankroll his studies while retaining your retirement plan.
Buy a house
Experts estimate that housing accounts for about a third or more of a monthly budget. Late starters need to get a house as soon as possible.
Create post-retirement income
A job that gives you good retirement benefits takes care of half your problems. But also invest in equities for growth. It won't be a risk since you will probably postpone retirement.
~
Source : BT
TODAY's MARKET :
29/09/11
Sensex
16698(+252)
Nifty
5015(+69)
$
49.18
Gold
25690
Silver
51284
CRUDE
$83.57
~
http://samparkonline.co.in
Sensex
16698(+252)
Nifty
5015(+69)
$
49.18
Gold
25690
Silver
51284
CRUDE
$83.57
~
http://samparkonline.co.in
Rakesh Jhunjhunwala: India’s Warren Buffet!
It is rightly said that ‘Example is not the main thing in influencing others, it is the only thing.’
Thereby India undoubtedly personifies Mr. Rakesh jhunjhunwala as our Indian Warren Buffet.
Warren Buffet, an American business magnate, investor, financier and philanthropist is the legendary investor of today. He is called the ‘Oracle Of Omaha’ for he is devoted to value investing philosophy and a firm believer in frugality. Much like him, Rakesh Jhunjhunwala also buys into the business model of a company by judging longevity and growth potential. The focus point is the ‘competitive ability’ and ‘management quality’ of a particular company.
Rakesh Jhunjhunwala, son of an income tax officer is a chartered accountant by qualification and an investor by profession.
* He started his career in this field soon after he graduated from Sydenham. He considers himself as the Big Bull of the market.
* He started with 5000 Rs when BSE Sensex was at 150. His first ever success was when he sold 5000 shares of Tata Tea @ 143 which he had purchased @ 43 with a time frame of 3 months, which showered upon him a profit of Rs. o.5 million.
* Subsequently, he could make his first million when he sold Sesagoa shares @ 1400 which he had bought at Rs. 27.
* It was the union budget 1990 which came as a turning point in his investing career, where he nearly made 5 times profit of his networth.
He manages his own portfolio as a partner in his asset management firm, Rare Enterprises. Currently he is India’s 45th richest man holding nearly 1.2 billion $.
Rakesh Jhunjhunwala carries some stock market ideologies with him which he has been following all through his investment career.
• Invest in a business and not any company.
• Maximise profits and minimize loses.
• Listen to others, but take your own decisions based on your own research.
• Be opportunistic but wait for the one to actually occur.
• Be happy with your gains but learn to accept losses with a smile.
• Historical stock prices help in predicting markets.
• Enter markets only if you are passionate about it.
• Patience may be tested but your conviction will be rewarded.
• Balance fear and greed.
• Invest for a long term.
Finally, he puts forth that ‘despite all- around optimism and extraordinary gains, never forget the risks and despite all around pessimism, never forget the opportunities.’
Last but not the least where most investors keep their eyes peeled:
Rakesh Jhunjhunwala is bullish on the stock markets for this year provided that monsoon keeps to the promised levels and crude remains below the dollar 100 mark, if recovers from the fear of the crisis. Moreover, he mentions that India may take 3-4 years to set, but finally it will lead to a double digit growth in economy.
Let the bottom hit,then markets are unlikely to shoot up.
Modesty being his best quality, he dislikes to be called as India’s Buffet
~
Source : niveza
Thereby India undoubtedly personifies Mr. Rakesh jhunjhunwala as our Indian Warren Buffet.
Warren Buffet, an American business magnate, investor, financier and philanthropist is the legendary investor of today. He is called the ‘Oracle Of Omaha’ for he is devoted to value investing philosophy and a firm believer in frugality. Much like him, Rakesh Jhunjhunwala also buys into the business model of a company by judging longevity and growth potential. The focus point is the ‘competitive ability’ and ‘management quality’ of a particular company.Rakesh Jhunjhunwala, son of an income tax officer is a chartered accountant by qualification and an investor by profession.
* He started his career in this field soon after he graduated from Sydenham. He considers himself as the Big Bull of the market.
* He started with 5000 Rs when BSE Sensex was at 150. His first ever success was when he sold 5000 shares of Tata Tea @ 143 which he had purchased @ 43 with a time frame of 3 months, which showered upon him a profit of Rs. o.5 million.
* Subsequently, he could make his first million when he sold Sesagoa shares @ 1400 which he had bought at Rs. 27.
* It was the union budget 1990 which came as a turning point in his investing career, where he nearly made 5 times profit of his networth.
He manages his own portfolio as a partner in his asset management firm, Rare Enterprises. Currently he is India’s 45th richest man holding nearly 1.2 billion $.
Rakesh Jhunjhunwala carries some stock market ideologies with him which he has been following all through his investment career.
• Invest in a business and not any company.
• Maximise profits and minimize loses.
• Listen to others, but take your own decisions based on your own research.
• Be opportunistic but wait for the one to actually occur.
• Be happy with your gains but learn to accept losses with a smile.
• Historical stock prices help in predicting markets.
• Enter markets only if you are passionate about it.
• Patience may be tested but your conviction will be rewarded.
• Balance fear and greed.
• Invest for a long term.
Finally, he puts forth that ‘despite all- around optimism and extraordinary gains, never forget the risks and despite all around pessimism, never forget the opportunities.’
Last but not the least where most investors keep their eyes peeled:
Rakesh Jhunjhunwala is bullish on the stock markets for this year provided that monsoon keeps to the promised levels and crude remains below the dollar 100 mark, if recovers from the fear of the crisis. Moreover, he mentions that India may take 3-4 years to set, but finally it will lead to a double digit growth in economy.
Let the bottom hit,then markets are unlikely to shoot up.
Modesty being his best quality, he dislikes to be called as India’s Buffet
~
Source : niveza
TODAY's MOTTO :
Dont
Compare urself
With Any1 In This World
If You Do So,
You are Insulting urself!!
B'coz u r d best..@
GD~MNG
Compare urself
With Any1 In This World
If You Do So,
You are Insulting urself!!
B'coz u r d best..@
GD~MNG
Mutual Fund Portfolio Service :
With more than 4000 Mutual Fund Schemes and more than 42 Mutual Funds,
how do you ensure that you get independent, unbiased, expert advice to select the right Mutual Fund Scheme for your portfolio? Don’t Guess!
Use ours proven research methodology to your Mutual Fund Portfolio.
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You can track Your Mutual Funds in a very easy way.
Use Our Mutual Fund Portfolio Service NOW!
how do you ensure that you get independent, unbiased, expert advice to select the right Mutual Fund Scheme for your portfolio? Don’t Guess!
Use ours proven research methodology to your Mutual Fund Portfolio.
We offers various FREE Mutual Fund Tools, to track your Mutual Funds.
You can track Your Mutual Funds in a very easy way.
Use Our Mutual Fund Portfolio Service NOW!
Do you currently have a mutual fund portfolio that is not perfect for you?
Are you saddled with funds that are not performing to your expectations?
Do you find it difficult to assess which mutual funds should be in your portfolio and which ones you should get rid of?
Our expert Research Team suggests that you should consider the following parameters to ensure that your portfolio continues to build wealth for you:
- Hold a limited number of schemes which provide adequate diversification across market capitalization and investment styles
- There should be only 1-2 sector or industry concentration
- Hold the consistent performers, as opposed to the ‘flash in the pan’ performers
- The mutual funds should have a track record over various market cycles like bull and bear phases
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To avail of this service and avail honest, expert and unbiased recommendations, all you need to do is Contact Us.
Wednesday, September 28, 2011
TODAY's MARKET :
28/09/11
Sensex
16446(-78)
Nifty
4945(-25)
$
49.18
Gold
26160
Silver
52503
CRUDE
$83.57
~
http://samparkonline.co.in
Sensex
16446(-78)
Nifty
4945(-25)
$
49.18
Gold
26160
Silver
52503
CRUDE
$83.57
~
http://samparkonline.co.in
JAI MATA DI
N-nav
A-arti
V-vandna
R-roshni
A-aradhana
T-tez
R-rkhne wali
A-ambey maa apki
mnokamnaye puri kren
wiss u happy navratri
"jai mata di..@
A-arti
V-vandna
R-roshni
A-aradhana
T-tez
R-rkhne wali
A-ambey maa apki
mnokamnaye puri kren
wiss u happy navratri
"jai mata di..@
Are You Worried About the Markets?
Just when you thought it was over, the market dipped – again.
It’s been 3 years since 2008 and it has become all too apparent to even the strongest optimists that we are in a global recession.
Serious volatility seems to be a constant factor when investing in the equity markets.
From the interest rate hike on September 16th with suggestions of still more hikes to come, to spiraling inflation that seems immune to interest rates, to petrol price fluctuations, to 1000-points dips on the Sensex in 2 trading sessions, the Indian retail investor should by now have developed nerves of steel.
Its times like these that call for two things:
1. A deep breath
2. A brief recap of the wise investing methods that we all know but tend to forget when under stress
Lets get started.
1. Rupee Cost Averaging is your friend
Over time and in many market situations we have seen that Systematic Investment Plans deliver consistent returns when compared to lump sum investing. Since you are investing a fixed amount at fixed intervals, you will end up buying more units when NAVs are low and fewer units when NAVs are high.
This automatically means that when the markets are falling, the last thing you should do is stop your SIPs. A bad time for the markets is a good time to buy into them. Those investors who kept their SIPs going through the fall of 2008 have that portion of their portfolios very much in the black, and that happened because they bought low.
2. Diversify, diversify, diversify
Sit down today with a pen and paper (or for the computer savvy, with an open excel sheet) and start listing your net worth. Your home, if you own it, will be your biggest asset. Make a note of how much you have in direct equity, equity mutual funds and PMS if any. List all your fixed income i.e. PPF, EPF, Bank FDs, FMPs, NSC, KVP etc. Make a note of other assets such as gold (ETF and physical whether coins, bars or jewellery), and cash in your bank accounts.
Once this is done you’ll be able to see how much of your wealth is in real estate, equity, debt, gold and cash. Ideally, depending on your life goals, you should have a certain amount in equity, debt and gold.
If your goal is less than 3 years away, stay away from equity. This might seem like a long time to not take advantage of the growth offered by equity markets, but think about this – if you had a goal such as putting the down-payment on a house in 2011, and you invested some money into equity mutual funds in 2007, 4 years later, you would be lucky to get your principal back intact. So remember – 3 years or less means no equity exposure, only fixed income.
For a goal that is 5 years away, your exposure should be predominantly fixed income and gold, with very little equity exposure (not more than 25%).
As the time to your goal increases, your equity exposure can go up. For a goal that is 10 years away, you can have 75% exposure to equity, with 10% in fixed income and 15% in gold.
3. A Little Self Awareness goes a Long Way
This is a 2 part point.
1. First – Ideally, you should be completely aware of your own financial situation, but to begin with its fine to start with getting a handle on your expenses. Know exactly how much you spend on groceries, fuel / travel, utilities including phone and internet bills, maid salaries, society dues / rent, entertainment, personal expenditure and additional family expenditure each month. Whatever this figure is, keep at least 6 times this amount set aside in your bank account and a liquid plus fund.
The financial planning rule is to keep 6 to 24 months worth of expenses in a safe, easily accessible investment. Note that 6 months expenses is the minimum safe amount.
2. Second – Know your risk tolerance.
If you are nearing retirement, or nearing any financial goal like buying a car, taking a family vacation, spending on your child’s education or marriage, buying a house, or are already retired, equity is not the place for these funds. Your risk tolerance at these times is low. Stick to fixed income and gold.
On the other hand if you are not near any financial goal, your risk tolerance is correspondingly higher and equity can help you grow your wealth.
4. Don’t Buy into Biases
There are 3 key biases that we all sometimes fall prey to. These are the confirmation bias, the hindsight bias and herd behaviour.
1. Confirmation bias is the kind of selective thinking that will make you filter and pay more attention to information that supports the opinions you agree with, while ignoring or rationalizing away the rest. This can cause you to have an incomplete and often inaccurate impression of the matter at hand.
In investing, this bias means that you would be more likely to seek out information that supports your original opinion of an investment, rather than read all the information available and assess it fairly. So if your neighbor tells you that now is the perfect time to buy into one particular stock, where you can make a ‘killing’, and you agree with him, you will automatically find yourself hearing, reading or looking up more positive information about the company, such as a low debt-equity ratio, a low PE and so forth.
2. Hindsight bias means that a person believes, in hindsight, that an event was completely predictable and obvious, when in fact it could not have been reasonably predicted. An example of this is the technology bubble of the late 1990s. In hindsight today, people might say that it was obvious that it was a bubble. But the fact of the matter is, if it was obvious that it was a bubble, it should not have escalated and later burst.
In investing, this is one of the most dangerous mindsets you can have. It leads to overconfidence, and overconfidence invariably leads to losses.
3. Herd behaviour can be best explained with a real life example.
In the early 1600s, the tulip was brought to Europe from the Ottoman Empire. It quickly became a status symbol, and soon Holland’s upper class was competing for the rarest and therefore most expensive tulip bulbs. In the 1630s, tulips were being traded on stock exchanged of various Dutch cities, leading to open participation and speculation on the prices of tulips. Soon, a single tulip bulb cost more than 10 times the annual salary of skilled Dutch craftsmen. At one point, a single rare tulip bulb commanded up to 12 acres of land. When prices collapsed suddenly, many people were financially ruined.
This is the effect of herd behavior.
It began in the financial world in the early 1600s with tulipomania and has been responsible for leading investors to make huge losses, or in the worst case scenario, go bankrupt, ever since then.
We saw it just recently in India, albeit not in a very big way, with the highest NAV guaranteed insurance plans. There’s a reason these schemes have now been banned. Remember, herd behavior, as tulipomania, the dotcom bubble and any other bubble since then will indicate, is not usually a profitable investment plan. Don’t assume that just because everyone is doing it, means it makes any sense at all. Stick to your plan, invest in products you understand, and stay away from biases.
Conclusion
To sum it up, investing is not rocket science and a market fall is not a permanent thing. Take it as an opportunity to buy low, if equity exposure is what your portfolio needs. Follow your investment rules, stay calm, and remember to take a deep breath before you make any sudden moves.
~
Source : personalFN
It’s been 3 years since 2008 and it has become all too apparent to even the strongest optimists that we are in a global recession.
Serious volatility seems to be a constant factor when investing in the equity markets.
From the interest rate hike on September 16th with suggestions of still more hikes to come, to spiraling inflation that seems immune to interest rates, to petrol price fluctuations, to 1000-points dips on the Sensex in 2 trading sessions, the Indian retail investor should by now have developed nerves of steel.
Its times like these that call for two things:
1. A deep breath
2. A brief recap of the wise investing methods that we all know but tend to forget when under stress
Lets get started.
1. Rupee Cost Averaging is your friend
Over time and in many market situations we have seen that Systematic Investment Plans deliver consistent returns when compared to lump sum investing. Since you are investing a fixed amount at fixed intervals, you will end up buying more units when NAVs are low and fewer units when NAVs are high.
This automatically means that when the markets are falling, the last thing you should do is stop your SIPs. A bad time for the markets is a good time to buy into them. Those investors who kept their SIPs going through the fall of 2008 have that portion of their portfolios very much in the black, and that happened because they bought low.
2. Diversify, diversify, diversify
Sit down today with a pen and paper (or for the computer savvy, with an open excel sheet) and start listing your net worth. Your home, if you own it, will be your biggest asset. Make a note of how much you have in direct equity, equity mutual funds and PMS if any. List all your fixed income i.e. PPF, EPF, Bank FDs, FMPs, NSC, KVP etc. Make a note of other assets such as gold (ETF and physical whether coins, bars or jewellery), and cash in your bank accounts.
Once this is done you’ll be able to see how much of your wealth is in real estate, equity, debt, gold and cash. Ideally, depending on your life goals, you should have a certain amount in equity, debt and gold.
If your goal is less than 3 years away, stay away from equity. This might seem like a long time to not take advantage of the growth offered by equity markets, but think about this – if you had a goal such as putting the down-payment on a house in 2011, and you invested some money into equity mutual funds in 2007, 4 years later, you would be lucky to get your principal back intact. So remember – 3 years or less means no equity exposure, only fixed income.
For a goal that is 5 years away, your exposure should be predominantly fixed income and gold, with very little equity exposure (not more than 25%).
As the time to your goal increases, your equity exposure can go up. For a goal that is 10 years away, you can have 75% exposure to equity, with 10% in fixed income and 15% in gold.
3. A Little Self Awareness goes a Long Way
This is a 2 part point.
1. First – Ideally, you should be completely aware of your own financial situation, but to begin with its fine to start with getting a handle on your expenses. Know exactly how much you spend on groceries, fuel / travel, utilities including phone and internet bills, maid salaries, society dues / rent, entertainment, personal expenditure and additional family expenditure each month. Whatever this figure is, keep at least 6 times this amount set aside in your bank account and a liquid plus fund.
The financial planning rule is to keep 6 to 24 months worth of expenses in a safe, easily accessible investment. Note that 6 months expenses is the minimum safe amount.
2. Second – Know your risk tolerance.
If you are nearing retirement, or nearing any financial goal like buying a car, taking a family vacation, spending on your child’s education or marriage, buying a house, or are already retired, equity is not the place for these funds. Your risk tolerance at these times is low. Stick to fixed income and gold.
On the other hand if you are not near any financial goal, your risk tolerance is correspondingly higher and equity can help you grow your wealth.
4. Don’t Buy into Biases
There are 3 key biases that we all sometimes fall prey to. These are the confirmation bias, the hindsight bias and herd behaviour.
1. Confirmation bias is the kind of selective thinking that will make you filter and pay more attention to information that supports the opinions you agree with, while ignoring or rationalizing away the rest. This can cause you to have an incomplete and often inaccurate impression of the matter at hand.
In investing, this bias means that you would be more likely to seek out information that supports your original opinion of an investment, rather than read all the information available and assess it fairly. So if your neighbor tells you that now is the perfect time to buy into one particular stock, where you can make a ‘killing’, and you agree with him, you will automatically find yourself hearing, reading or looking up more positive information about the company, such as a low debt-equity ratio, a low PE and so forth.
2. Hindsight bias means that a person believes, in hindsight, that an event was completely predictable and obvious, when in fact it could not have been reasonably predicted. An example of this is the technology bubble of the late 1990s. In hindsight today, people might say that it was obvious that it was a bubble. But the fact of the matter is, if it was obvious that it was a bubble, it should not have escalated and later burst.
In investing, this is one of the most dangerous mindsets you can have. It leads to overconfidence, and overconfidence invariably leads to losses.
3. Herd behaviour can be best explained with a real life example.
In the early 1600s, the tulip was brought to Europe from the Ottoman Empire. It quickly became a status symbol, and soon Holland’s upper class was competing for the rarest and therefore most expensive tulip bulbs. In the 1630s, tulips were being traded on stock exchanged of various Dutch cities, leading to open participation and speculation on the prices of tulips. Soon, a single tulip bulb cost more than 10 times the annual salary of skilled Dutch craftsmen. At one point, a single rare tulip bulb commanded up to 12 acres of land. When prices collapsed suddenly, many people were financially ruined.
This is the effect of herd behavior.
It began in the financial world in the early 1600s with tulipomania and has been responsible for leading investors to make huge losses, or in the worst case scenario, go bankrupt, ever since then.
We saw it just recently in India, albeit not in a very big way, with the highest NAV guaranteed insurance plans. There’s a reason these schemes have now been banned. Remember, herd behavior, as tulipomania, the dotcom bubble and any other bubble since then will indicate, is not usually a profitable investment plan. Don’t assume that just because everyone is doing it, means it makes any sense at all. Stick to your plan, invest in products you understand, and stay away from biases.
Conclusion
To sum it up, investing is not rocket science and a market fall is not a permanent thing. Take it as an opportunity to buy low, if equity exposure is what your portfolio needs. Follow your investment rules, stay calm, and remember to take a deep breath before you make any sudden moves.
~
Source : personalFN
Tuesday, September 27, 2011
TODAY's MARKET :
27/09/11
Sensex
16524(+472)
Nifty
4971(+135)
$
50.54
Gold
26641
Silver
54871
CRUDE
$82.11
~
http://samparkonline.co.in
Sensex
16524(+472)
Nifty
4971(+135)
$
50.54
Gold
26641
Silver
54871
CRUDE
$82.11
~
http://samparkonline.co.in
GOLD..........An Asset for all times
Pick up any financial article these days and you are bound to find a full page article on the yellow metal, much to its justification, the yellow metal have always hogged the limelight for centuries and for generations. The Egyptian Pharos considered it to be one of the most prized possession for its journey to the afterlife, there are fabled stories in the mythology, the Kings preferred manner to reward apart from gifting land was gold, the treasure hunters diving deep into the sea to find the lost yellow metal, to the Hollywood and to the Second World War when families buried gold in their backyard garden while fleeing air raids. In the last few years the role of gold has increased not only as a store of value but also as an important alternative asset class providing a diversification benefit. In India, people have a liking for gold, it’s more cultural and historical apart from other reasons like, symbol of security, sign of prosperity, safe investment in times of crisis and personal risk, for rural India gold is a preferred investment as its gives a sense of financial security and also due to lack of banking facilities.
Yearly Return of Gold vis a vis other Asset Class
| Year | Equity | Bond | Gold |
| 2010 | 18.0 | 6.3 | 24.5 |
| 2009 | 75.8 | -6.0 | 18.9 |
| 2008 | -51.8 | 27.1 | 30.6 |
| 2007 | 54.8 | 6.9 | 16.6 |
| 2006 | 39.8 | 6.0 | 21.0 |
| 2005 | 36.3 | 6.3 | 22.2 |
| 2004 | 10.7 | -1.4 | 0.5 |
| 2003 | 71.9 | 12.4 | 13.5 |
| 2002 | 3.3 | 23.0 | 24.1 |
| 2001 | -16.2 | 25.3 | 5.9 |
Equity: S&P Nifty, Bond: I-BEX (I-Sec Sovereign Bond Index), Gold: Gold Prices in INR
The advantages of investing in Gold:
- Diversification: Gold has a very low or negative correlation with other assets classes and hence offers a diversification benefit to investors. Having gold as part of the portfolio, one can potentially reduce the overall risk.
- Inflation Hedge: Gold has, for the past many centuries, maintained its value against inflation. It helps to preserve the value of the capital. Historically higher inflation has resulted to a higher value for gold prices.
- Low Volatility Asset: Gold as an asset class has been less volatile than equities and has been able to provide stable return on year on year basis when compared to equities which have seen much volatility. This suits investors with longer term horizon and goals to have a steady flow of return on investments as against erratic movements in the capital market.
- Protection against Currency Weakness: Gold has been a favorite hedging tool for many traders for the past several years. Governments across the globe have taken refuge in gold when faced with currency volatility of the domicile. Gold helps to protect value of money against currency weakness especially against the USD. Since gold is denominated in USD, US interest rates have a great impact on prices. During times of low interest rates and rising inflation, investors scout the option to invest in gold.
| Years | 10 | 7 | 5 | 3 | 1 |
| % Return | 17.68% | 18.29% | 17.41% | 17.04% | 29.52% |
The above table shows CAGR performance of Gold (USD/Oz) as on 31st Dec 2010
There are various options for ownership of gold, the most common practice is to buy gold in physical form (gold coins and bars and through jewellery), or may be through Gold Exchange Traded Funds (Commonly as Gold ETFs) which are passively managed mutual fund schemes that track the benchmark index and reflect the performance to that index, or by investing in Gold Mutual Funds which are professionally managed by fund managers that invest in stocks of companies that are into gold mining, gold trading and large retail houses which are listed, or by directly investing in companies which have gold as its primary business activity.
~
Source : want2rich
SUBHO-MAHALAYA
Ya Devi Sarva Bhutesu Maa rupena samsthita I
Ya Devi Sarva Bhutesu Shakti rupena samsthita I
Ya Devi Sarva Bhutesu Buddhi rupena samsthita I
Ya Devi Sarva Bhutesu Laxmi rupena samsthita I
Namestasyai II Namestasyai II Namestasyai II
Namo Namah II
Ya Devi Sarva Bhutesu Shakti rupena samsthita I
Ya Devi Sarva Bhutesu Buddhi rupena samsthita I
Ya Devi Sarva Bhutesu Laxmi rupena samsthita I
Namestasyai II Namestasyai II Namestasyai II
Namo Namah II
Monday, September 26, 2011
A Long Road Ahead...........
If you are above a certain age, then you would vividly remember particular dialog from Sholay. Gabbar Singh is boasting to his henchman about how scared people are of him. ‘…jab baccha rota hai,” says, “toh maa kehti hai ki beta so ja. So ja nahin toh Gabbar Singh aa jayega”. There’s a stock market equivalent of this line, whereby an investor warns another one not to buy anything on the markets right now because FIIs might start selling (you can imagine the actual line).
Over this last decade, the biggest change that has happened in conversations that investors have with each others and their brokers is the outsize role that the foreign institutional investor has taken on. All of us who analyse the markets have got a narrative about how the markets have gone up because of the tremendous growth in the economy and in Indian businesses. But that’s not the way the markets work. Stock prices don’t go up as an automatic reward for growth.
First, someone with the ability and the willingness to invest has to notice that growth, take a call that the growth will continue and then put down actual money. If enough investors do this in large enough volumes, then and only then will the markets follow. It’s important to note that temporal direction of the cause and effect here: investors have no interest—and rightly so—in past growth. They invest in expectation of future growth. The past is important only as a guide to the future.
In India, the role of leading the market, by the nose, as it were has been played by the FIIs for a long time now. Now, I‘m not one of those who think that FII investment in India this is automatically a bad thing—it’s not. By itself, it’s a great thing. However, what is a bad thing is that there is no meaningful domestic long-term equity investment. This effectively short-circuits the broader role that the equity markets should be playing.
The equity markets in a growing economy are a two-way contract. Businesses get access to capital and investors get chance to get far better returns than they would get through fixed-income investing. Unfortunately, this contract doesn’t function in India. Let’s look at the various ways in which investors’ long-term savings can reach the markets. The traditional first answer is direct retail participation in buying stocks, preferably in IPOs. Unfortunately, IPO investing in India is entirely about punting on the first day price now. Those who invest in IPOs believe (and they’re mostly correct) that IPOs will be priced and timed in such a way that there’s no way of making money except to find a greater fool on the first day. For the better part of two decades now, various tricks have been tried to entice the retail investor to invest in IPOs. These tricks no longer work, something that is probably evidence of good sense on the part of retail investors. Meanwhile, growing businesses that could genuinely have been part of a robust IPO markets go to foreign PE funds and the like for equity.
Another major channel for long-term equity investments are of course mutual funds. Funds have sort of succeeded but it’s the kind of success that, in the larger scale of things, is not meaningful.
India’s mutual funds manage equity investments that are currently worth Rs 2 lakh crore. This is the cumulative amount total grown over the years. From an investment point of view, fresh inflows are nothing. In the last 24 months, net equity fund inflows have been Rs 1,430 crore. This sounds like a lot of money, but when you put it in perspective, it’s a drop in the ocean.
The one bright spot on the horizon was supposed to be the New Pension System. As originally envisaged, the NPS would have led to a huge volume of very long-term, stable equity investments. These would have led to exceptional benefits for the participants as well as the equity markets. However, this vision all but dead. The latest is that a parliamentary standing committee has said that NPS members should get a guaranteed return that is at least as much as the EPFO’s returns. Effectively, this means that the NPS’s journey to becoming yet another government-guaranteed fixed-income scheme is well on its way.
It’s a depressing story. The basic cycle of the capital markets—whereby household savings get deployed in good businesses and the households get owner-like returns—is completely broken. On the one hand, business are starved of equity capital and on the other the capital markets are the abode of short-term punters trying to manoeuvre some profits out of the ebb and flow of short-term foreign money.
~
Source : value Research
Over this last decade, the biggest change that has happened in conversations that investors have with each others and their brokers is the outsize role that the foreign institutional investor has taken on. All of us who analyse the markets have got a narrative about how the markets have gone up because of the tremendous growth in the economy and in Indian businesses. But that’s not the way the markets work. Stock prices don’t go up as an automatic reward for growth.
First, someone with the ability and the willingness to invest has to notice that growth, take a call that the growth will continue and then put down actual money. If enough investors do this in large enough volumes, then and only then will the markets follow. It’s important to note that temporal direction of the cause and effect here: investors have no interest—and rightly so—in past growth. They invest in expectation of future growth. The past is important only as a guide to the future.
In India, the role of leading the market, by the nose, as it were has been played by the FIIs for a long time now. Now, I‘m not one of those who think that FII investment in India this is automatically a bad thing—it’s not. By itself, it’s a great thing. However, what is a bad thing is that there is no meaningful domestic long-term equity investment. This effectively short-circuits the broader role that the equity markets should be playing.
The equity markets in a growing economy are a two-way contract. Businesses get access to capital and investors get chance to get far better returns than they would get through fixed-income investing. Unfortunately, this contract doesn’t function in India. Let’s look at the various ways in which investors’ long-term savings can reach the markets. The traditional first answer is direct retail participation in buying stocks, preferably in IPOs. Unfortunately, IPO investing in India is entirely about punting on the first day price now. Those who invest in IPOs believe (and they’re mostly correct) that IPOs will be priced and timed in such a way that there’s no way of making money except to find a greater fool on the first day. For the better part of two decades now, various tricks have been tried to entice the retail investor to invest in IPOs. These tricks no longer work, something that is probably evidence of good sense on the part of retail investors. Meanwhile, growing businesses that could genuinely have been part of a robust IPO markets go to foreign PE funds and the like for equity.
Another major channel for long-term equity investments are of course mutual funds. Funds have sort of succeeded but it’s the kind of success that, in the larger scale of things, is not meaningful.
India’s mutual funds manage equity investments that are currently worth Rs 2 lakh crore. This is the cumulative amount total grown over the years. From an investment point of view, fresh inflows are nothing. In the last 24 months, net equity fund inflows have been Rs 1,430 crore. This sounds like a lot of money, but when you put it in perspective, it’s a drop in the ocean.
The one bright spot on the horizon was supposed to be the New Pension System. As originally envisaged, the NPS would have led to a huge volume of very long-term, stable equity investments. These would have led to exceptional benefits for the participants as well as the equity markets. However, this vision all but dead. The latest is that a parliamentary standing committee has said that NPS members should get a guaranteed return that is at least as much as the EPFO’s returns. Effectively, this means that the NPS’s journey to becoming yet another government-guaranteed fixed-income scheme is well on its way.
It’s a depressing story. The basic cycle of the capital markets—whereby household savings get deployed in good businesses and the households get owner-like returns—is completely broken. On the one hand, business are starved of equity capital and on the other the capital markets are the abode of short-term punters trying to manoeuvre some profits out of the ebb and flow of short-term foreign money.
~
Source : value Research
Term Plans FAQs.......
Q- What is life insurance?
Ans- Life insurance is a contract between an insurance company and the insurance policy owner where the insurance company pays a cash amount to the beneficiary mentioned in the policy upon death of the insured person. The policy owner promises to pay a predetermined premium to the insurance company at regular intervals to the insurance company to avail this. Purpose of life insurance is to provide financial security to dependents, taking care of their education needs, loan repayments, and continuation of regular financial activity unhindered in case of demise of the insured.
Ans- Life insurance is a contract between an insurance company and the insurance policy owner where the insurance company pays a cash amount to the beneficiary mentioned in the policy upon death of the insured person. The policy owner promises to pay a predetermined premium to the insurance company at regular intervals to the insurance company to avail this. Purpose of life insurance is to provide financial security to dependents, taking care of their education needs, loan repayments, and continuation of regular financial activity unhindered in case of demise of the insured.
Health Insurance FAQs.........
Q- Why do I need health insurance if I am young and healthy?
Ans- We need health insurance to take care of future medical expenditures that may arise at any point of time in our lives. Medical insurance takes care of the financial aspect of emergency medical situations or even planned treatments that cost a lot. Moreover as we age, we may develop certain medical conditions. These are considered pre-existing illnesses at the time of taking a new health insurance policy and are covered after a long waiting period by insurance providers. In certain conditions for pre-existing diseases, health insurance may even be denied. It is better to buy a mediclaim before any such situation arises.
Q- What does health insurance cover?
Ans- It covers almost all hospitalisation expenses for a minimum period of 24 hours. Certain day care procedures are also covered. The cover includes accidents, surgeries and other medical procedures, hospitalisation costs of room and other facilities, and medication. Still it is always better to go through the whole policy document to know where you stand when you make the claim. Look for the specific wordings in the policy document regarding Exclusions , Cashless Hospitalisation , Reimbursement, Network Hospitals , Room Ren t, No Claim Bonus , Loadings and, Upper Age Limits etc
Q- Do I need separate health insurance if my employer is providing it?
Ans- Experts advise on taking separate health insurance even if your employer is providing it (technically called the group health insurance or group mediclaim) as jobs have uncertainty attached to them:
• Employer provided health cover lapses the moment you retire or change the job.
• When you change the job you might not be covered during the transition period.
• Group health insurance does not offer any continuity benefits to the insured.
• Your new employer may not provide you with health insurance.
• You may not be able to buy a new insurance policy at the retirement age (upper age limit ) or may have the premiums are too high to be effective.
• Services and conditions covered in a group insurance plan by an employer may differ from your own requirement.
Q- Why should I maintain continuity in health insurance?
Ans- Maintaining continuity is important to avail the long term health insurance benefits. When you take a personal or standalone health insurance, and renew it regularly, you start getting continuity benefits that prove to be invaluable over the time:
• 30 days waiting period is waived off on renewal.
• Disease exclusions for the 1st year and 2nd year are waived off on 1st and 2nd renewals respectively.
• You start getting no claim benefits.
• Pre-existing diseases are covered after 3-4 continued policy years.
• Maternity cover may be there only after 2-4 continued policy years if available.
• Some insurance companies offer free health checkups after four continues policy years without claim.
• Group insurance may lapse at a time you need health insurance the most (after retirement or during uncertain employment times).
Q- How much health insurance do I need?
Ans- As much health insurance as you can afford is what you need. Since it is difficult to anticipate an emergency that you might get into, a look into family medical history your age and past medical records, your lifestyle hazards, and you can get a rough estimate insurance required. How much premium you can afford to pay and sudden expenditure you can bear during an emergency also are the questions that finally decide the insurance cover you finally opt for.
Q- What type of health insurance should I take?
Ans- There are largely two types of health insurance covers available in India.
• Individual Health Insurance
• Family Health Insurance
Along with these there are options like personal accidental benefit, critical illnesses plan, senior citizens policy and hospital cash that can be taken as riders or individual policies. Choice can be based on individual age, family status, and health condition as to what type of policy or rider may be most suitable.
Q- What is individual health insurance?
Ans- It is the most traditional health plan wherein an individual is covered for medical and hospital expenses up to the sum insured. The insured individual is entitled to the entire sum insured of the policy. Such plans are most suited for high risk individuals or the families in higher age slabs. The proposer (buyer) can purchase an individual health policy for himself, his dependant parents, spouse, and kids.
Individual health plans have higher premiums if bought for each member as the cover offered is also higher as a whole.
Q- What is family floater health insurance?
Ans- This type of a policy covers more than one member of the immediate family under a single plan and the sum insured is available to entire family covered in the plan. One can buy a family floater policy for:
• Self and spouse
• Self, spouse and kids
• Spouse and kids
• Self and kids
The premium paid comes out to be less than the one paid for individual cover for all in family. This is considered suitable for young nuclear families with lower health risks. When required each insured individual is entitled to part or total ensured amount for the family. A limitation may arise in case of more than one claim in a year as the amount remaining after the first claim is reduced.
Q- What are exclusions?
Ans- Exclusions list diseases consultations, tests, and hospitalisations that are not covered in a mediclaim. For example, some policies cover OPD costs, ambulance costs and tests, others don’t. The e exclusions list of different insurance companies may vary. Still there are certain permanent exclusions that need to be looked into:
• Expenses arising from HIV or AIDS and related diseases.
• Abuse of intoxicant or hallucinogenic substances like drugs and alcohol.
• Hospitalization due to war or an act of war or due to a nuclear, chemical or biological weapon and radiation of any kind.
• Items of personal comfort and convenience.
• Experimental, investigative and unproven treatment devices and pharmacological regimens.
• Expenses which are mainly cosmetic in nature.
Q- What is cashless facility?
Ans- Cashless facility allows the insured to be treated at select hospitals without paying in cash at the network hospitals. To avail this facility, the insurer or the assigned TPA must be informed in advance in case of planned treatment and within a stipulated time in case of emergencies.
Q- Why do I need reimbursement if my insurers provide facility of cashless treatment?
Ans- In some instances, it may be required to take the insured to a hospital that is not a network hospital or the TPA was not contacted on time. In such cases the insured can claim the medical expenditure within a stipulated time of the commencement and completion of the treatment. Reimbursement offers an amount of time flexibility while getting the medical aid.
Q- What are network hospitals and why should I look for them?
Ans- Every health insurance company has tie ups with various hospitals through their TPA where they provide cashless facility to their customers. It always comes handy to know the network hospitals of your insurer in your vicinity or look for a company that has one in your surroundings. Also take into account the quality of these hospitals.
Q- What is room-rent capping?
Ans- Hospital charges rent on the room that one takes at the time of hospitalisation. Some insurance companies put a cap or a limit on how much a person is eligible for the room rent per day at the hospital. One needs to compare it with the rates of the hospitals one visits. These norms vary for each health insurance company.
Q- What happens if I do not make a claim in the whole year?/ what is no claim bonus?
Ans- When the insured sticks to one company, he is assured certain benefits over the years in case of no claim. Some offer more sum assured and others offer some reduction in future premiums. Some insurers may stick to the same premiums but may offer other kind of benefit or services like free health checkups for continuity.
Q- What is loading?
Ans- In a health insurance policy, loading is the amount that is added to the premium after a claim is made. The percentage increase depends on the age of the insured amount and type of claim. Certain types of loadings can be there even at the time of buying a policy depending upon the age, pre-existing conditions, or current health status.
Q- What is co-payment?
Ans- Co-payment means that the insured has to make the partial payment of the treatment. This comes into play usually when we take treatment in non-network hospitals or in the higher age slabs. Every company offering health insurance has a different rule pertaining to loading and co-pay and it is always better to go through the norms before buying.
Q- What are riders and add-ons?
Ans- To cater to specific requirements of individuals and families most health insurance companies provide customisation of a medical policy by giving riders or add-on benefits like critical care policy or personal accidental benefit to the main policy. Opting for these adds to the premium cost but at the same time adds to the sum assured in critical situations.
Q- What is a critical care policy?
Ans- Critical care policy provides an added cover over a regular health plan in case of critical illnesses like heart attacks, heart surgery, cancer (baring certain kind), organ transplant, stroke, paralysis, burns, and other prelisted illnesses. List of critical illnesses covered may vary for each insurance company.
Critical illness cover can also be taken as a rider along with health insurance and life insurance. In this case the person insured becomes eligible for increased cover if diagnosed with a critical illness i.e. sum assured for critical illness + sum assured for health insurance.
The disbursement rules may vary. In many cases the insured amount is disbursed as a lump sum the moment a critical illness is diagnosed though some companies may disburse it in parts at regular intervals or as the bills are produced up to the sum assured.
Q- What is personal accident Policy?
Ans- Personal accident policy is suitable for people facing high accident risk. It can be taken for self as well as for family. Amount of claim depends on the type of disablement (permanent, temporary, partial, and total) up to the limit as mentioned in the policy wording.
Q- What is a senior citizen health policy?
Ans- There was a time when people above a certain age usually the age of 60 years or 70 years, were not entitled for health insurance. Now there are a few insurance companies offering senior citizen health plans or have increased the upper age limit. Senior citizen health insurance plans may have a higher premium and may also have an upper age limit for entry into a policy or the maximum age up to which they will be provided the cover.
It is very important to go through the terms of policy regarding exclusions, upper age limit, co-payment terms, and coverage for facilities like room rent and ambulance cover while taking a senior citizen health plan.
Q- What is hospital cash?
Ans- Hospital cash is a fixed allowance that one is entitled to in case of hospitalisation. The daily cash allowance can be used to cover miscellaneous expenditures that may otherwise not be covered in a health plan. One may take hospital cash along with a regular health policy.
Q- Does health insurance cover me for maternity or pregnancy related expenses?
Ans- Most insurance companies do not cover maternity or pregnancy related medical expenditures though some companies offer this cover for people who have been already insured with them for a fixed minimum duration that may range from 2- 4 continued policy years depending upon the insurance company.
Q- Does health insurance cover consultation and diagnostic charges?
Ans- Not all the consultancy charges and diagnostic tests are covered in a health policy. Most insurance companies cover it only if:
• Consultation and diagnostic charges are part of an ongoing treatment for which you have been admitted to hospital.
• They result in diagnosis of a situation for which you have to be admitted to hospital.
If the tests conducted are not related to the hospitalisation for a specific treatment then they might not covered.
Q- Till what age will I be covered?/ what is the upper age for a health policy?
Ans- Every health policy has a maximum age for entering into a policy and the maximum age up to which the person might get the health cover. These are called upper age limit and renew up to limit respectively.
Most health insurance companies limit the upper entry age into health insurance between 55 to 60 years and provide health cover till age of 65 to 80 years as per the norms of different companies. Some insurers have a different premium plans for different age groups, others offer health insurance for life and provide insurance to senior citizens with specific conditions attached as per the company policy.
Q- What is a TPA or Third Party Administrator?
Ans- TPA or the third party administrator is the link between the insuring company and the insured person. Any facility provided by your insurance company is through the TPA. These companies are licensed by IRDA and are authorised to represent an insurance company. One TPA may cater to more than one insurance company or the insurance company may have their own in house TPA services. They coordinate between the hospital and the customer for cashless treatment and handle claims and also offer guidance to the insured whenever needed. The toll free numbers and contacts provided to you after insurance are that of the TPA.
Q- Can I and my family be covered under the same policy if we are staying in different cities in India?
Ans- Yes, you and your family can be covered under the same family policy even if you are staying in different cities in India. You just need to make sure that the network hospitals are available at both the places for ease of claiming the cashless facility.
Q- Does health insurance cover alternate medicine like naturopathy or ayurveda?
Ans- No, no alternate medicine like ayurveda, naturopathy, or homoeopathy is covered in health insurance. It covers only the allopathic treatments.
Q- Can I buy more than one health policy?
Ans- Yes, you can buy up to two health policies provided you declare the same to both the insuring companies. You cannot claim the whole amount from both the companies. The claim is divided amongst the two companies in the ratio of sum insured from both the companies.
Q- Do I need to undergo a medical examination before buying health insurance?
Ans- For buying a new health policy, medical examination may be required for people over 45-50 years of age depending upon the company policy.
Q- What is a waiting period when I buy a policy?
Ans- There is a minimum 30 days waiting period from the date of the policy coming into effect when you are not covered for anything except accidents. For some companies this waiting period may extend up to 60 to 90 days. Further there are waiting periods for specific medical conditions and pre-existing diseases is much longer (ranging between 1-6 years) during which you may not be covered for that particular illness e.g. for cataract surgery most companies have a waiting period for one year of policy duration.
Q- Can I seek treatment at home and be reimbursed for it under health insurance?
Ans- Yes, it is possible to seek treatment at home and be reimbursed for it called domiciliary treatment, provided basic conditions for the same are fulfilled:
• The person is not in a condition to be shifted to the hospital.
• The person cannot be accommodated in the hospital for lack of beds or other infrastructure.
It is always better to seek advice from the company representative regarding such issues as they are always treated as exceptions.
Q- What are day-care procedures? Are they covered by my health policy?
Ans- There are certain medical treatments that do not require you to get admitted to the hospital for more than a few hours like dialysis or chemotherapy etc. Such treatments are called day-care procedures. Many of these are covered by the health insurance. The list of day care procedures covered may vary for different insurance companies.
Q- What is the minimum and maximum policy duration?
Ans- Any health Insurance is for a maximum duration of one year and needs to be renewed after that though some companies may offer it for 24 months.
Q- What is coverage amount?
Ans- Coverage amount is the maximum amount you are eligible for in case of a claim for a policy term (one year in most cases).
Q- How many claims can I make during a year?
Ans- You are insured for a fixed amount in a year called the coverage amount or sum insured. You can make as many claims till you reach the value of sum insured.
Q- What is a pre-existing disease?
Ans- Pre-existing illnesses are the medical condition, ailment, or injury prior to inception of your first health insurance policy. These may be conditions for which you had symptoms, were diagnosed with, or received treatment for, before buying health insurance. If insurance company once accepts your proposal then they are covered after certain time period, mostly four year of continued policy renewal.
Q- How does the insurance company decide if a disease is pre-existing?
Ans- When you fill the proposal form for your health insurance you need do declare any medical condition you may have and you also need to declare family medical history. Based on these conditions the insurance company decides if you have a pre-existing disease. It is done in good faith as per the declaration made by you.
It is advisable to fill the form true to your knowledge as a claim may be denied if the situation is found to be otherwise at a later stage.
Q- Am I entitled to buy health insurance if I have a pre-existing problem?
Ans- It is insurance company’s discretion to except or reject your proposal if you have a pre-existing problem. If the case is accepted then there might be a loading on premium or a waiting period for that condition to be covered in a health policy as per the company norms.
Q- I am a foreign national. Am I entitled to buy a policy in India?
Ans- Anyone living in India or visiting India for employment, education, or even tourism is entitled to buy health insurance here provided the person is not visiting here for medical tourism or for treatment. The coverage area is limited to India. Waiting period for the insurance to be effective remains the same (30 days) so it is not advisable for those on a short visit.
Q- What happens if I want to cancel my health policy?
Ans- If you wish to cancel your policy before the maximum duration of the policy, your insurance will cease to exist and a part of your premium will be refunded to you. Terms of policy cancelation are mentioned in the policy document and may vary for every company.
Q- Does a company have a right to deny health insurance to a person?
Ans- Yes, a company can deny health insurance to a person based on certain conditions like pre-existing diseases, general health conditions, or age.
Q- What happens to the coverage after I file the claim?
Ans- After you file a claim the total cover available for the rest of the year is reduced by that much amount.
Q- Who gets the claim if the policy owner dies during a treatment?
Ans- In case of cashless treatment the bills will be settled directly with the hospital. In case of reimbursement the amount is paid to the nominee or the legal successor on presentation proper documents like bills, death certificate succession certificate.
Q- What documents do I need at the time of buying a health policy?
Ans- Other than the proposal form, premium cheque, and individual photographs of the insured persons, you may need a photo ID proof, age proof, and medical examination papers as per the norms of the insurance company.
Q- Do I get tax benefit if I buy health insurance?
Ans- Yes, you can avail annual deduction of Rs. 15,000 from taxable income (20,000 for senior citizens) on payment of health insurance of self and dependants under section 80D. (Tax benefits under section 80D are different from the Rs1,00,000 exemption under Section 80 C)
Q- What determines the premium of my health insurance?
Ans- Age of the person to be insured and the amount of cover required are the two main factors that decide the premium of health insurance. There might be other factors like pre-existing diseases facilities covered etc.
~
Source : easypolicy
Ans- We need health insurance to take care of future medical expenditures that may arise at any point of time in our lives. Medical insurance takes care of the financial aspect of emergency medical situations or even planned treatments that cost a lot. Moreover as we age, we may develop certain medical conditions. These are considered pre-existing illnesses at the time of taking a new health insurance policy and are covered after a long waiting period by insurance providers. In certain conditions for pre-existing diseases, health insurance may even be denied. It is better to buy a mediclaim before any such situation arises.
Q- What does health insurance cover?
Ans- It covers almost all hospitalisation expenses for a minimum period of 24 hours. Certain day care procedures are also covered. The cover includes accidents, surgeries and other medical procedures, hospitalisation costs of room and other facilities, and medication. Still it is always better to go through the whole policy document to know where you stand when you make the claim. Look for the specific wordings in the policy document regarding Exclusions , Cashless Hospitalisation , Reimbursement, Network Hospitals , Room Ren t, No Claim Bonus , Loadings and, Upper Age Limits etc
Q- Do I need separate health insurance if my employer is providing it?
Ans- Experts advise on taking separate health insurance even if your employer is providing it (technically called the group health insurance or group mediclaim) as jobs have uncertainty attached to them:
• Employer provided health cover lapses the moment you retire or change the job.
• When you change the job you might not be covered during the transition period.
• Group health insurance does not offer any continuity benefits to the insured.
• Your new employer may not provide you with health insurance.
• You may not be able to buy a new insurance policy at the retirement age (upper age limit ) or may have the premiums are too high to be effective.
• Services and conditions covered in a group insurance plan by an employer may differ from your own requirement.
Q- Why should I maintain continuity in health insurance?
Ans- Maintaining continuity is important to avail the long term health insurance benefits. When you take a personal or standalone health insurance, and renew it regularly, you start getting continuity benefits that prove to be invaluable over the time:
• 30 days waiting period is waived off on renewal.
• Disease exclusions for the 1st year and 2nd year are waived off on 1st and 2nd renewals respectively.
• You start getting no claim benefits.
• Pre-existing diseases are covered after 3-4 continued policy years.
• Maternity cover may be there only after 2-4 continued policy years if available.
• Some insurance companies offer free health checkups after four continues policy years without claim.
• Group insurance may lapse at a time you need health insurance the most (after retirement or during uncertain employment times).
Q- How much health insurance do I need?
Ans- As much health insurance as you can afford is what you need. Since it is difficult to anticipate an emergency that you might get into, a look into family medical history your age and past medical records, your lifestyle hazards, and you can get a rough estimate insurance required. How much premium you can afford to pay and sudden expenditure you can bear during an emergency also are the questions that finally decide the insurance cover you finally opt for.
Q- What type of health insurance should I take?
Ans- There are largely two types of health insurance covers available in India.
• Individual Health Insurance
• Family Health Insurance
Along with these there are options like personal accidental benefit, critical illnesses plan, senior citizens policy and hospital cash that can be taken as riders or individual policies. Choice can be based on individual age, family status, and health condition as to what type of policy or rider may be most suitable.
Q- What is individual health insurance?
Ans- It is the most traditional health plan wherein an individual is covered for medical and hospital expenses up to the sum insured. The insured individual is entitled to the entire sum insured of the policy. Such plans are most suited for high risk individuals or the families in higher age slabs. The proposer (buyer) can purchase an individual health policy for himself, his dependant parents, spouse, and kids.
Individual health plans have higher premiums if bought for each member as the cover offered is also higher as a whole.
Q- What is family floater health insurance?
Ans- This type of a policy covers more than one member of the immediate family under a single plan and the sum insured is available to entire family covered in the plan. One can buy a family floater policy for:
• Self and spouse
• Self, spouse and kids
• Spouse and kids
• Self and kids
The premium paid comes out to be less than the one paid for individual cover for all in family. This is considered suitable for young nuclear families with lower health risks. When required each insured individual is entitled to part or total ensured amount for the family. A limitation may arise in case of more than one claim in a year as the amount remaining after the first claim is reduced.
Q- What are exclusions?
Ans- Exclusions list diseases consultations, tests, and hospitalisations that are not covered in a mediclaim. For example, some policies cover OPD costs, ambulance costs and tests, others don’t. The e exclusions list of different insurance companies may vary. Still there are certain permanent exclusions that need to be looked into:
• Expenses arising from HIV or AIDS and related diseases.
• Abuse of intoxicant or hallucinogenic substances like drugs and alcohol.
• Hospitalization due to war or an act of war or due to a nuclear, chemical or biological weapon and radiation of any kind.
• Items of personal comfort and convenience.
• Experimental, investigative and unproven treatment devices and pharmacological regimens.
• Expenses which are mainly cosmetic in nature.
Q- What is cashless facility?
Ans- Cashless facility allows the insured to be treated at select hospitals without paying in cash at the network hospitals. To avail this facility, the insurer or the assigned TPA must be informed in advance in case of planned treatment and within a stipulated time in case of emergencies.
Q- Why do I need reimbursement if my insurers provide facility of cashless treatment?
Ans- In some instances, it may be required to take the insured to a hospital that is not a network hospital or the TPA was not contacted on time. In such cases the insured can claim the medical expenditure within a stipulated time of the commencement and completion of the treatment. Reimbursement offers an amount of time flexibility while getting the medical aid.
Q- What are network hospitals and why should I look for them?
Ans- Every health insurance company has tie ups with various hospitals through their TPA where they provide cashless facility to their customers. It always comes handy to know the network hospitals of your insurer in your vicinity or look for a company that has one in your surroundings. Also take into account the quality of these hospitals.
Q- What is room-rent capping?
Ans- Hospital charges rent on the room that one takes at the time of hospitalisation. Some insurance companies put a cap or a limit on how much a person is eligible for the room rent per day at the hospital. One needs to compare it with the rates of the hospitals one visits. These norms vary for each health insurance company.
Q- What happens if I do not make a claim in the whole year?/ what is no claim bonus?
Ans- When the insured sticks to one company, he is assured certain benefits over the years in case of no claim. Some offer more sum assured and others offer some reduction in future premiums. Some insurers may stick to the same premiums but may offer other kind of benefit or services like free health checkups for continuity.
Q- What is loading?
Ans- In a health insurance policy, loading is the amount that is added to the premium after a claim is made. The percentage increase depends on the age of the insured amount and type of claim. Certain types of loadings can be there even at the time of buying a policy depending upon the age, pre-existing conditions, or current health status.
Q- What is co-payment?
Ans- Co-payment means that the insured has to make the partial payment of the treatment. This comes into play usually when we take treatment in non-network hospitals or in the higher age slabs. Every company offering health insurance has a different rule pertaining to loading and co-pay and it is always better to go through the norms before buying.
Q- What are riders and add-ons?
Ans- To cater to specific requirements of individuals and families most health insurance companies provide customisation of a medical policy by giving riders or add-on benefits like critical care policy or personal accidental benefit to the main policy. Opting for these adds to the premium cost but at the same time adds to the sum assured in critical situations.
Q- What is a critical care policy?
Ans- Critical care policy provides an added cover over a regular health plan in case of critical illnesses like heart attacks, heart surgery, cancer (baring certain kind), organ transplant, stroke, paralysis, burns, and other prelisted illnesses. List of critical illnesses covered may vary for each insurance company.
Critical illness cover can also be taken as a rider along with health insurance and life insurance. In this case the person insured becomes eligible for increased cover if diagnosed with a critical illness i.e. sum assured for critical illness + sum assured for health insurance.
The disbursement rules may vary. In many cases the insured amount is disbursed as a lump sum the moment a critical illness is diagnosed though some companies may disburse it in parts at regular intervals or as the bills are produced up to the sum assured.
Q- What is personal accident Policy?
Ans- Personal accident policy is suitable for people facing high accident risk. It can be taken for self as well as for family. Amount of claim depends on the type of disablement (permanent, temporary, partial, and total) up to the limit as mentioned in the policy wording.
Q- What is a senior citizen health policy?
Ans- There was a time when people above a certain age usually the age of 60 years or 70 years, were not entitled for health insurance. Now there are a few insurance companies offering senior citizen health plans or have increased the upper age limit. Senior citizen health insurance plans may have a higher premium and may also have an upper age limit for entry into a policy or the maximum age up to which they will be provided the cover.
It is very important to go through the terms of policy regarding exclusions, upper age limit, co-payment terms, and coverage for facilities like room rent and ambulance cover while taking a senior citizen health plan.
Q- What is hospital cash?
Ans- Hospital cash is a fixed allowance that one is entitled to in case of hospitalisation. The daily cash allowance can be used to cover miscellaneous expenditures that may otherwise not be covered in a health plan. One may take hospital cash along with a regular health policy.
Q- Does health insurance cover me for maternity or pregnancy related expenses?
Ans- Most insurance companies do not cover maternity or pregnancy related medical expenditures though some companies offer this cover for people who have been already insured with them for a fixed minimum duration that may range from 2- 4 continued policy years depending upon the insurance company.
Q- Does health insurance cover consultation and diagnostic charges?
Ans- Not all the consultancy charges and diagnostic tests are covered in a health policy. Most insurance companies cover it only if:
• Consultation and diagnostic charges are part of an ongoing treatment for which you have been admitted to hospital.
• They result in diagnosis of a situation for which you have to be admitted to hospital.
If the tests conducted are not related to the hospitalisation for a specific treatment then they might not covered.
Q- Till what age will I be covered?/ what is the upper age for a health policy?
Ans- Every health policy has a maximum age for entering into a policy and the maximum age up to which the person might get the health cover. These are called upper age limit and renew up to limit respectively.
Most health insurance companies limit the upper entry age into health insurance between 55 to 60 years and provide health cover till age of 65 to 80 years as per the norms of different companies. Some insurers have a different premium plans for different age groups, others offer health insurance for life and provide insurance to senior citizens with specific conditions attached as per the company policy.
Q- What is a TPA or Third Party Administrator?
Ans- TPA or the third party administrator is the link between the insuring company and the insured person. Any facility provided by your insurance company is through the TPA. These companies are licensed by IRDA and are authorised to represent an insurance company. One TPA may cater to more than one insurance company or the insurance company may have their own in house TPA services. They coordinate between the hospital and the customer for cashless treatment and handle claims and also offer guidance to the insured whenever needed. The toll free numbers and contacts provided to you after insurance are that of the TPA.
Q- Can I and my family be covered under the same policy if we are staying in different cities in India?
Ans- Yes, you and your family can be covered under the same family policy even if you are staying in different cities in India. You just need to make sure that the network hospitals are available at both the places for ease of claiming the cashless facility.
Q- Does health insurance cover alternate medicine like naturopathy or ayurveda?
Ans- No, no alternate medicine like ayurveda, naturopathy, or homoeopathy is covered in health insurance. It covers only the allopathic treatments.
Q- Can I buy more than one health policy?
Ans- Yes, you can buy up to two health policies provided you declare the same to both the insuring companies. You cannot claim the whole amount from both the companies. The claim is divided amongst the two companies in the ratio of sum insured from both the companies.
Q- Do I need to undergo a medical examination before buying health insurance?
Ans- For buying a new health policy, medical examination may be required for people over 45-50 years of age depending upon the company policy.
Q- What is a waiting period when I buy a policy?
Ans- There is a minimum 30 days waiting period from the date of the policy coming into effect when you are not covered for anything except accidents. For some companies this waiting period may extend up to 60 to 90 days. Further there are waiting periods for specific medical conditions and pre-existing diseases is much longer (ranging between 1-6 years) during which you may not be covered for that particular illness e.g. for cataract surgery most companies have a waiting period for one year of policy duration.
Q- Can I seek treatment at home and be reimbursed for it under health insurance?
Ans- Yes, it is possible to seek treatment at home and be reimbursed for it called domiciliary treatment, provided basic conditions for the same are fulfilled:
• The person is not in a condition to be shifted to the hospital.
• The person cannot be accommodated in the hospital for lack of beds or other infrastructure.
It is always better to seek advice from the company representative regarding such issues as they are always treated as exceptions.
Q- What are day-care procedures? Are they covered by my health policy?
Ans- There are certain medical treatments that do not require you to get admitted to the hospital for more than a few hours like dialysis or chemotherapy etc. Such treatments are called day-care procedures. Many of these are covered by the health insurance. The list of day care procedures covered may vary for different insurance companies.
Q- What is the minimum and maximum policy duration?
Ans- Any health Insurance is for a maximum duration of one year and needs to be renewed after that though some companies may offer it for 24 months.
Q- What is coverage amount?
Ans- Coverage amount is the maximum amount you are eligible for in case of a claim for a policy term (one year in most cases).
Q- How many claims can I make during a year?
Ans- You are insured for a fixed amount in a year called the coverage amount or sum insured. You can make as many claims till you reach the value of sum insured.
Q- What is a pre-existing disease?
Ans- Pre-existing illnesses are the medical condition, ailment, or injury prior to inception of your first health insurance policy. These may be conditions for which you had symptoms, were diagnosed with, or received treatment for, before buying health insurance. If insurance company once accepts your proposal then they are covered after certain time period, mostly four year of continued policy renewal.
Q- How does the insurance company decide if a disease is pre-existing?
Ans- When you fill the proposal form for your health insurance you need do declare any medical condition you may have and you also need to declare family medical history. Based on these conditions the insurance company decides if you have a pre-existing disease. It is done in good faith as per the declaration made by you.
It is advisable to fill the form true to your knowledge as a claim may be denied if the situation is found to be otherwise at a later stage.
Q- Am I entitled to buy health insurance if I have a pre-existing problem?
Ans- It is insurance company’s discretion to except or reject your proposal if you have a pre-existing problem. If the case is accepted then there might be a loading on premium or a waiting period for that condition to be covered in a health policy as per the company norms.
Q- I am a foreign national. Am I entitled to buy a policy in India?
Ans- Anyone living in India or visiting India for employment, education, or even tourism is entitled to buy health insurance here provided the person is not visiting here for medical tourism or for treatment. The coverage area is limited to India. Waiting period for the insurance to be effective remains the same (30 days) so it is not advisable for those on a short visit.
Q- What happens if I want to cancel my health policy?
Ans- If you wish to cancel your policy before the maximum duration of the policy, your insurance will cease to exist and a part of your premium will be refunded to you. Terms of policy cancelation are mentioned in the policy document and may vary for every company.
Q- Does a company have a right to deny health insurance to a person?
Ans- Yes, a company can deny health insurance to a person based on certain conditions like pre-existing diseases, general health conditions, or age.
Q- What happens to the coverage after I file the claim?
Ans- After you file a claim the total cover available for the rest of the year is reduced by that much amount.
Q- Who gets the claim if the policy owner dies during a treatment?
Ans- In case of cashless treatment the bills will be settled directly with the hospital. In case of reimbursement the amount is paid to the nominee or the legal successor on presentation proper documents like bills, death certificate succession certificate.
Q- What documents do I need at the time of buying a health policy?
Ans- Other than the proposal form, premium cheque, and individual photographs of the insured persons, you may need a photo ID proof, age proof, and medical examination papers as per the norms of the insurance company.
Q- Do I get tax benefit if I buy health insurance?
Ans- Yes, you can avail annual deduction of Rs. 15,000 from taxable income (20,000 for senior citizens) on payment of health insurance of self and dependants under section 80D. (Tax benefits under section 80D are different from the Rs1,00,000 exemption under Section 80 C)
Q- What determines the premium of my health insurance?
Ans- Age of the person to be insured and the amount of cover required are the two main factors that decide the premium of health insurance. There might be other factors like pre-existing diseases facilities covered etc.
~
Source : easypolicy
TODAY's MARKET :
26/09/11
Sensex
16051(-110)
Nifty
4835(-32)
$
50.54
Gold
25852
Silver
49666
CRUDE
$77.93
~
http://samparkonline.co.in
Sensex
16051(-110)
Nifty
4835(-32)
$
50.54
Gold
25852
Silver
49666
CRUDE
$77.93
~
http://samparkonline.co.in
Shortcut to financial success :
People constantly ask us ‘whats the short cut to financial success’?
Honestly there is no short cut, or rather we would say that the only shortcut is financial planning discipline. So what all does personal financial planning include? In a nutshell it involves prioritizing your goals and organizing your finances so as to meet your targets in the easiest possible manner.
Checkout these four key steps that will help you budget your finances in the best possible way.
Rule No 1 rule for financial planning – Identify Goals and Prioritize
The goals can vary from higher education to marriage to buying a car. Once you have jotted down the list, prioritize and eliminate the avoidable ones e.g. buying a car can be delayed by a few years if you are looking forward to get married in near term.
Rule no 2 – Create an Emergency Fund and Cover the Risks
A very important financial planning tip is to create an emergency fund. A typical emergency fund usually caters to situations like loss of job as it happened during recession or loss of income due to an accident or illness, etc. The emergency fund should be sufficient to meet your expenses for around 6 months.
So if you spend Rs 15000 a month, keep aside Rs 90000 for this fund. Apart from this cover the risks – risk against accident, disability, ill health and death. This is a must in order to take care of you and your dependents, in case, God forbid, something bad happens. You can cover yourself through an appropriate mix of term plans, personal accident insurance,
Rule no 3 – Budgeting Finances – Create Goal Based Funds
The third most important tip while planning your personal finances is to create goal based funds. A goal based fund would look like -
Saving 2,00,000 in 2 yrs for a car
Saving 8,00,000 in 3 years for marriage, etc
As per the goals set, calculate the monthly savings that you would need to make. Accordingly you would get to know how much you can spend in a month. So instead of spending and then saving, first save and then spend.
Last but not the least – Organize your Finances
What do we mean by this? Now that you know how much you need to save to achieve your financial goals, control your spending. Cut out on leisurely expenses. It doesn’t mean cutting out on your leisure, but it simply means finding alternate sources of entertaining yourself. Instead of watching movies in a multiples, opt for smaller, cheaper theatres, or better watch them on a rented DVD. Ladies can cut down their visits to beauty parlors and opt for self – do packages, etc.
By following the above four golden rules you can can be sure that you have put yourself on the path to financial success.
~
Source :insureinvest
Honestly there is no short cut, or rather we would say that the only shortcut is financial planning discipline. So what all does personal financial planning include? In a nutshell it involves prioritizing your goals and organizing your finances so as to meet your targets in the easiest possible manner.
Checkout these four key steps that will help you budget your finances in the best possible way.
Rule No 1 rule for financial planning – Identify Goals and Prioritize
The goals can vary from higher education to marriage to buying a car. Once you have jotted down the list, prioritize and eliminate the avoidable ones e.g. buying a car can be delayed by a few years if you are looking forward to get married in near term.
Rule no 2 – Create an Emergency Fund and Cover the Risks
A very important financial planning tip is to create an emergency fund. A typical emergency fund usually caters to situations like loss of job as it happened during recession or loss of income due to an accident or illness, etc. The emergency fund should be sufficient to meet your expenses for around 6 months.
So if you spend Rs 15000 a month, keep aside Rs 90000 for this fund. Apart from this cover the risks – risk against accident, disability, ill health and death. This is a must in order to take care of you and your dependents, in case, God forbid, something bad happens. You can cover yourself through an appropriate mix of term plans, personal accident insurance,
Rule no 3 – Budgeting Finances – Create Goal Based Funds
The third most important tip while planning your personal finances is to create goal based funds. A goal based fund would look like -
Saving 2,00,000 in 2 yrs for a car
Saving 8,00,000 in 3 years for marriage, etc
As per the goals set, calculate the monthly savings that you would need to make. Accordingly you would get to know how much you can spend in a month. So instead of spending and then saving, first save and then spend.
Last but not the least – Organize your Finances
What do we mean by this? Now that you know how much you need to save to achieve your financial goals, control your spending. Cut out on leisurely expenses. It doesn’t mean cutting out on your leisure, but it simply means finding alternate sources of entertaining yourself. Instead of watching movies in a multiples, opt for smaller, cheaper theatres, or better watch them on a rented DVD. Ladies can cut down their visits to beauty parlors and opt for self – do packages, etc.
By following the above four golden rules you can can be sure that you have put yourself on the path to financial success.
~
Source :insureinvest
TODAY's MOTTO :
Very effective lines:
>Adjustment
is always better
than Argument..
>A meaningful
silence is better
than meaningless words..@
GD~MNG
>Adjustment
is always better
than Argument..
>A meaningful
silence is better
than meaningless words..@
GD~MNG
Saturday, September 24, 2011
A Beginner's Guide to The World of Investing..........
Investing is a complex exercise only because we insist on making it so. But the basic principles are simple. As simple that anyone can become a good investor just by following simple and easily understood rules, which also help avoid big mistakes. Here are my rules for investment success.
Develop a Plan: For your short-term goals, make sure you're taking appropriate risks. Invest money that you'll need in the next two years to five years in cash and short-term bonds. If you've taken on too much risk for short-term objectives, pull back now. There's no telling where the bottom of this market is. It's better to cut your losses and preserve the money you already have for short-term goals. For your long-term financial goals, consider equities.
Keep It Simple: Buy a diversified equity fund or an index fund for equity exposure and a floating-rate bond fund for fixed income exposure. These are the basics of the investment world. Sure, you can buy many other types of funds (Petro, MNC, Gilt, Fixed Maturity, Serial Plans etc), but it's hard to go wrong with these two. To keep fund selection simple, stick with a diversified equity funds of well-established fund families. Equities prove to be the best performing long-term asset class. Stay away from exotic speciality and sector funds, unless you have a huge risk appetite and you can take in your stride a 25% loss in a quarter.
Ignore the hot stocks and funds: If you buy this year's top-performing fund or stock, be prepared to see it at the bottom next year. The fancy academic expression for this phenomenon is -- Reversion to the Mean. But the old saying explains it just as well -- what goes up must come down.
Invest Regularly: Investing a little bit of money each month is the surest way to reduce the risk of investing, because you lessen the possibility of buying at the market top. Also, no one is smart enough to anticipate all the moves, both up and down.
Buy and Hold: Short-term trading makes more brokers than investors rich. The income tax department likes the practice, too. If you meet anyone who claims to have made money through short-term trading, resist your temptation to listen any further and move on to a more productive conversation.
Start Early: It is not the "market timing" but time in the market that matters. Power of compounding will turn things in your favour.
Investing is a long-term proposition. Research your investments, remember your goals, re-examine your risk, and limit how much you listen to day-to-day market commentary. And don't let your emotions overpower your sense of reason.
~
Source : Valur Research
Develop a Plan: For your short-term goals, make sure you're taking appropriate risks. Invest money that you'll need in the next two years to five years in cash and short-term bonds. If you've taken on too much risk for short-term objectives, pull back now. There's no telling where the bottom of this market is. It's better to cut your losses and preserve the money you already have for short-term goals. For your long-term financial goals, consider equities.
Keep It Simple: Buy a diversified equity fund or an index fund for equity exposure and a floating-rate bond fund for fixed income exposure. These are the basics of the investment world. Sure, you can buy many other types of funds (Petro, MNC, Gilt, Fixed Maturity, Serial Plans etc), but it's hard to go wrong with these two. To keep fund selection simple, stick with a diversified equity funds of well-established fund families. Equities prove to be the best performing long-term asset class. Stay away from exotic speciality and sector funds, unless you have a huge risk appetite and you can take in your stride a 25% loss in a quarter.
Ignore the hot stocks and funds: If you buy this year's top-performing fund or stock, be prepared to see it at the bottom next year. The fancy academic expression for this phenomenon is -- Reversion to the Mean. But the old saying explains it just as well -- what goes up must come down.
Invest Regularly: Investing a little bit of money each month is the surest way to reduce the risk of investing, because you lessen the possibility of buying at the market top. Also, no one is smart enough to anticipate all the moves, both up and down.
Buy and Hold: Short-term trading makes more brokers than investors rich. The income tax department likes the practice, too. If you meet anyone who claims to have made money through short-term trading, resist your temptation to listen any further and move on to a more productive conversation.
Start Early: It is not the "market timing" but time in the market that matters. Power of compounding will turn things in your favour.
Investing is a long-term proposition. Research your investments, remember your goals, re-examine your risk, and limit how much you listen to day-to-day market commentary. And don't let your emotions overpower your sense of reason.
~
Source : Valur Research
Take the First Step towards Smart Investing.........
Need based approach to invest in Mutual Funds:
Many of us start investing with just a general idea that we should earn as much money as possible out of our savings. This approach ends up in investors just wanting to know what is a ‘good fund’ to invest in?
The answer to this question actually depends on what your financial needs are,
how you translate those needs into financial goals and what solutions are available,
that can help enable you to fulfil those financial goals.
What is a financial goal, and how you can fine-tune your mutual fund investment to your goals?
A financial goal is having the right amount of money at around the right time to do something specific in life. Here are some examples of financial goals:
In four to six years, I want to have Rs 20 lakh for the down payment on an apartment that will cost Rs 80 lakh then.
From 2013 to 2015, I’ll need Rs 3 lakh a year to pay for my daughter’s higher education.
Sometime in the next two or three years, I would like to take my entire family on a vacation to Europe that may cost Rs 5 lakh.
Such clearly articulated goals are precise enough to lend themselves to financial planning, and for deciding on specific funds to invest in. To make the best use of your investments, break down your investment need into such precisely stated goals.
Once you have done this, you have all the inputs you need to make optimal use of the four financial solutions :
Each of these could be the right fit for many different financial goals. Here are some typical examples:
To Grow My Wealth: Your immediate needs are well taken care of and you are not saving for specific big-ticket expenses like a house. You don’t anticipate the need to encash your investments for a number of years. You appreciate that equity offers the best trade-off between risks and returns over the long term and would desire that your money earn these returns.
To Save Tax and Create Wealth: As above, you understand that the growth of the equity markets offers the best trade-off between risk and returns over the long term. You would like to earn these returns. Additionally, you would like to take advantage of tax-saving equity funds. These offer a perfect combination of equity-based returns and tax savings.
To Get an Additional Regular Income: In relation to you current income, you may have substantial accumulated assets and investments. Some situations where this typically may happen is post-retirement; or in the case of an inheritance; or gains from liquidating old real-estate holdings etc. In these cases, you need an investment solution that is designed to grow your investment while giving you a regular income for consumption.
An Alternative to My Savings Account: Savings banks accounts may have many conveniences but the returns are low. For a proportion of your savings bank holdings, you need an alternative that offers higher returns along with adequate liquidity.
The “Need based Solution Buckets” or Financial Solutions stated above are ONLY for highlighting the many advantages perceived from investments in Mutual Funds but does not in any manner, indicate or imply, either the quality of any particular Scheme or guarantee any specific performance/returns.
Investing with Goals and Solutions
Investors should clearly articulate their financial goals, spelling out amounts and time-frames with as much precision as feasible. They should identify the kind of financial solution that is suited for the
fulfilment of each financial goal.
We at SAMPARK offers four types of solutions that can help you fulfil a broad range of financial goals.
~
Source : value research
Many of us start investing with just a general idea that we should earn as much money as possible out of our savings. This approach ends up in investors just wanting to know what is a ‘good fund’ to invest in?
The answer to this question actually depends on what your financial needs are,
how you translate those needs into financial goals and what solutions are available,
that can help enable you to fulfil those financial goals.
What is a financial goal, and how you can fine-tune your mutual fund investment to your goals?
A financial goal is having the right amount of money at around the right time to do something specific in life. Here are some examples of financial goals:
In four to six years, I want to have Rs 20 lakh for the down payment on an apartment that will cost Rs 80 lakh then.
From 2013 to 2015, I’ll need Rs 3 lakh a year to pay for my daughter’s higher education.
Sometime in the next two or three years, I would like to take my entire family on a vacation to Europe that may cost Rs 5 lakh.
Such clearly articulated goals are precise enough to lend themselves to financial planning, and for deciding on specific funds to invest in. To make the best use of your investments, break down your investment need into such precisely stated goals.
Once you have done this, you have all the inputs you need to make optimal use of the four financial solutions :
Each of these could be the right fit for many different financial goals. Here are some typical examples:
To Grow My Wealth: Your immediate needs are well taken care of and you are not saving for specific big-ticket expenses like a house. You don’t anticipate the need to encash your investments for a number of years. You appreciate that equity offers the best trade-off between risks and returns over the long term and would desire that your money earn these returns.
To Save Tax and Create Wealth: As above, you understand that the growth of the equity markets offers the best trade-off between risk and returns over the long term. You would like to earn these returns. Additionally, you would like to take advantage of tax-saving equity funds. These offer a perfect combination of equity-based returns and tax savings.
To Get an Additional Regular Income: In relation to you current income, you may have substantial accumulated assets and investments. Some situations where this typically may happen is post-retirement; or in the case of an inheritance; or gains from liquidating old real-estate holdings etc. In these cases, you need an investment solution that is designed to grow your investment while giving you a regular income for consumption.
An Alternative to My Savings Account: Savings banks accounts may have many conveniences but the returns are low. For a proportion of your savings bank holdings, you need an alternative that offers higher returns along with adequate liquidity.
The “Need based Solution Buckets” or Financial Solutions stated above are ONLY for highlighting the many advantages perceived from investments in Mutual Funds but does not in any manner, indicate or imply, either the quality of any particular Scheme or guarantee any specific performance/returns.
Investing with Goals and Solutions
Investors should clearly articulate their financial goals, spelling out amounts and time-frames with as much precision as feasible. They should identify the kind of financial solution that is suited for the
fulfilment of each financial goal.
We at SAMPARK offers four types of solutions that can help you fulfil a broad range of financial goals.
~
Source : value research
Friday, September 23, 2011
TODAY's MARKET :
23/09/11
Sensex
16162(-199)
Nifty
4867(-55)
$
50.01
Gold
27540
Silver
58709
CRUDE
$79.76
~
http://samparkonline.co.in
Sensex
16162(-199)
Nifty
4867(-55)
$
50.01
Gold
27540
Silver
58709
CRUDE
$79.76
~
http://samparkonline.co.in
TODAY's MOTTO :
People are made to be Loved
& Money is made to be Used
The confusion in d World is
People are being Used & Money is being Loved..@
GD~MNG
& Money is made to be Used
The confusion in d World is
People are being Used & Money is being Loved..@
GD~MNG
Thursday, September 22, 2011
TODAY's MARKET :
22/09/11
Sensex
16361(-704)
Nifty
4923(-209)
$
48.58
Gold
27932
Silver
63759
CRUDE
$85.60
~
http://samparkonline.co.in
Sensex
16361(-704)
Nifty
4923(-209)
$
48.58
Gold
27932
Silver
63759
CRUDE
$85.60
~
http://samparkonline.co.in
TODAY's MOTTO :
When
nails r growing
we cut our nails, Not fingers..
Similarly
when Ego rises
we should cut Ego not Relations..
So forgive every1 who hurts u.@
nails r growing
we cut our nails, Not fingers..
Similarly
when Ego rises
we should cut Ego not Relations..
So forgive every1 who hurts u.@
Wednesday, September 21, 2011
TODAY's MARKET :
21/09/11
Sensex
17065(-34)
Nifty
5133(-6)
$
48.58
Gold
28117
Silver
64936
CRUDE
$85.60
~
http://samparkonline.co.in
Sensex
17065(-34)
Nifty
5133(-6)
$
48.58
Gold
28117
Silver
64936
CRUDE
$85.60
~
http://samparkonline.co.in
TODAY's MOTTO :
Evry1
wants Hapines
No1 needs Pain
But
Its not posible
2get Rainbw widout a Litle Rain!
So njoy
evry drop of Water
eithr frm SKY or EYE..@
wants Hapines
No1 needs Pain
But
Its not posible
2get Rainbw widout a Litle Rain!
So njoy
evry drop of Water
eithr frm SKY or EYE..@
Tuesday, September 20, 2011
TODAY's MARKET :
20/09/11
Sensex
17099(+353)
Nifty
5140(-108)
$
48.58
Gold
27830
Silver
63755
CRUDE
$85.60
~
http://samparkonline.co.in
Sensex
17099(+353)
Nifty
5140(-108)
$
48.58
Gold
27830
Silver
63755
CRUDE
$85.60
~
http://samparkonline.co.in
India to topple Japan as world's 3rd-largest economy :
NEW DELHI: India might become the world's third largest economy in 2011 by overtaking Japan in terms of gross domestic product (GDP) measured according to the domestic purchasing power of the rupee, otherwise called purchasing power parity.
India is now the fourth-largest economy behind the US, China and Japan. Numbers from 2010 show that the Japanese economy was worth $4.31 trillion, with India snapping at its heels at $4.06 trillion. But after March's devastating tsunami and earthquakes, Japan's economy is widely expected to contract while India's economy will grow between 7% and 8% this fiscal. "India should overtake Japan in 2011 to become the third-largest economy in the world at purchasing power parity," said Sunil Sinha, head of research and senior economist at Crisil.
IMF forecasts show India and Japan neck-to-neck in 2011, but the disaster in Japan has brought the event forward. "Were it not for the earthquake and tsunami, India would have overtaken Japan in around 2013-14," said Sinha.
The purchasing power parity (PPP) method measures the size of an economy by levelling price differences between countries that occur in the process of conversion to a single currency.
India is now the fourth-largest economy behind the US, China and Japan. Numbers from 2010 show that the Japanese economy was worth $4.31 trillion, with India snapping at its heels at $4.06 trillion. But after March's devastating tsunami and earthquakes, Japan's economy is widely expected to contract while India's economy will grow between 7% and 8% this fiscal. "India should overtake Japan in 2011 to become the third-largest economy in the world at purchasing power parity," said Sunil Sinha, head of research and senior economist at Crisil.
IMF forecasts show India and Japan neck-to-neck in 2011, but the disaster in Japan has brought the event forward. "Were it not for the earthquake and tsunami, India would have overtaken Japan in around 2013-14," said Sinha.
The purchasing power parity (PPP) method measures the size of an economy by levelling price differences between countries that occur in the process of conversion to a single currency.
Under this method, a dollar should be able to buy the same amount of goods anywhere in the world and exchange rates should adjust accordingly.
The Economist's Big Mac Index, which takes the price of a Big Mac burger across 120 countries to calculate the 'real' price of its currency, is a crude way to measure PPP. India was included in the index recently. It showed that the Indian rupee was undervalued by 53% against the US dollar in August.
Earlier, a report by consultant PwC suggested that the Indian economy would surpass the Japanese economy in 2012. The IMF expects the Japanese economy to contract 0.7% this year while India is expected to grow 8.2%. A bigger economy could also give the government additional clout and bargaining power overseas.
"A bigger economy would also mean more clout in international forums," said Madan Sabnavis, chief economist at ratings firm Care.
India, once a recipient nation for foreign aid, could now come together with Brazil, Russia and China to form a fund to stabilise tottering economies in the Eurozone.
Globally, companies have their eyes set on India as a rapidly growing nation that is full of opportunities. The sheer scale of development needed could drive growth for many years. "India has the advantage of size. The scope of growth and excess capacity present in terms of resources would drive growth in the future," said Sabnavis.
Economists say that while the change in the rank of a country does not mean much, it points to broad trends in the growth trajectories of nations.
"It's a long process of development, but this shows that the markets are expanding and there is robust demand within the economy," said Siddhartha Sanyal, chief economist, Barclays Capital.
According to the University of Pennsylvania PPP world tables, India has already moved ahead of Japan in 2010. The size of the Indian economy is expected to reach almost $5 trillion by the end of 2011.
~
Source : ET
TODAY's MOTTO:
No
one can
destroy iron But
its own rust can
Likewise
No one can
destroy a person
But his own mind!
Our thoughts change
our Life & Personality..@
GD~MNG
one can
destroy iron But
its own rust can
Likewise
No one can
destroy a person
But his own mind!
Our thoughts change
our Life & Personality..@
GD~MNG
Monday, September 19, 2011
TODAY's MARKET :
19/09/11
Sensex
16745(-188)
Nifty
5031(-52)
$
48.58
Gold
28104
Silver
64675
CRUDE
$85.60
~
http://samparkonline.co.in
Sensex
16745(-188)
Nifty
5031(-52)
$
48.58
Gold
28104
Silver
64675
CRUDE
$85.60
~
http://samparkonline.co.in
TODAY's MOTTO :
Frogs
decided
to reach
top of a tree
All frogs shouted:
its imposible
But
one frog
reaches d top
Coz
He ws deaf
So
B deaf
to -ve thought..@
decided
to reach
top of a tree
All frogs shouted:
its imposible
But
one frog
reaches d top
Coz
He ws deaf
So
B deaf
to -ve thought..@
Friday, September 16, 2011
TODAY's MARKET :
16/09/11
Sensex
16933(+57)
Nifty
5084(+8)
$
47.57
Gold
27283
Silver
63355
CRUDE
$88.50
~
http://samparkonline.co.in
Sensex
16933(+57)
Nifty
5084(+8)
$
47.57
Gold
27283
Silver
63355
CRUDE
$88.50
~
http://samparkonline.co.in
RBI raises repo, reverse repo rates by 25 bps; CRR unchanged
NEW DELHI: The Reserve Bank of India (RBI) raised repo rates by 25 bps on Friday to 8.25% and reverse repo rates by 25 bps to 7.25%, to arrest rising inflation in Asia's third largest economy. CRR was unchanged at 6%.
The RBI raised key lending rates for the 12th consecutive time in 18 months to 8.25 per cent. Post the hike, most analysts expect the RBI to pause the rate hike cycle.
Annual inflation surged 9.78 per cent for the month of August, its highest in over a year, driven by rising prices of food and manufactured products.
The latest inflation numbers echoed the need for continued tightening, although the global scenarios remain weak and signal slowdown in the global economy.
"Given inflation is still very much on RBI's priority, we don't see a pause at this time," said Abheek Barua, chief economist at HDFC Bank. "Also, if you see the indirect indicators like excise collections, you would find that growth has not dramatically collapsed, it has just moderated." If the RBI's governor's past utterances are any indication, the hawkish stance on inflation will remain.
"Notwithstanding signs of moderation, inflationary pressures are clearly very strong," he had said during the first quarter monetary policy review on July 26. "The current balance of global and domestic factors suggests that monetary policy needs to persist with a firm anti-inflationary stance."
Passenger car sales have slowed in recent months after jumping 30 per cent in the fiscal year ended in March, suggesting high inflation and rising borrowing costs are hurting consumer durables demand. Further, rate increases could worsen growth in factory output, bank credit, car sales, and non-oil imports which are already reeling under pressure.
The RBI has been one of the most active central banks globally to manage inflation.
The European Central Bank, Bank of England, and Swedish Central Bank among others continue to hold rates steady at reviews last week, amid easing inflationary pressures in the euro zone and concerns over weakening growth prospects.
A number of Asian central banks, including Malaysia's and South Korea's, paused their fight against inflation, while Brazil recently cut interest rates.
~
Source : ET
The RBI raised key lending rates for the 12th consecutive time in 18 months to 8.25 per cent. Post the hike, most analysts expect the RBI to pause the rate hike cycle.
Annual inflation surged 9.78 per cent for the month of August, its highest in over a year, driven by rising prices of food and manufactured products.
The latest inflation numbers echoed the need for continued tightening, although the global scenarios remain weak and signal slowdown in the global economy.
"Given inflation is still very much on RBI's priority, we don't see a pause at this time," said Abheek Barua, chief economist at HDFC Bank. "Also, if you see the indirect indicators like excise collections, you would find that growth has not dramatically collapsed, it has just moderated." If the RBI's governor's past utterances are any indication, the hawkish stance on inflation will remain.
"Notwithstanding signs of moderation, inflationary pressures are clearly very strong," he had said during the first quarter monetary policy review on July 26. "The current balance of global and domestic factors suggests that monetary policy needs to persist with a firm anti-inflationary stance."
Passenger car sales have slowed in recent months after jumping 30 per cent in the fiscal year ended in March, suggesting high inflation and rising borrowing costs are hurting consumer durables demand. Further, rate increases could worsen growth in factory output, bank credit, car sales, and non-oil imports which are already reeling under pressure.
The RBI has been one of the most active central banks globally to manage inflation.
The European Central Bank, Bank of England, and Swedish Central Bank among others continue to hold rates steady at reviews last week, amid easing inflationary pressures in the euro zone and concerns over weakening growth prospects.
A number of Asian central banks, including Malaysia's and South Korea's, paused their fight against inflation, while Brazil recently cut interest rates.
~
Source : ET
TODAY's MOTTO :
Days begin
with hopes &
end with dreams!
Everyday
starts with
some expectation
But
surely
ends with
some experience
that's life..@
with hopes &
end with dreams!
Everyday
starts with
some expectation
But
surely
ends with
some experience
that's life..@
Thursday, September 15, 2011
Market can go up 20% odd next year: Samir Arora, Helios Capital
In an interview with ET Now, Samir Arora, Fund Manager, Helios Capital, shares his perspective on the global market in general and the Indian market in particular. Excerpts:
Are you still bearish or you have covered your shorts?
Mostly I would say I have not changed my opinion because the outside world has not changed. The only real positive thing that we thought at that time was that the RBI would stop tightening, but right now maybe it looks a bit too late whether they stop or not at least for the next few months because the world has deteriorated much more in the last one month. Right now I am still sort of bearish in a bullish sense. I am overall bullish in life, but currently when I say I am bearish, that means I am relatively much less bullish and on the margin bearish.
What is the base case for your bullish as well as bearish stance?
The bear case scenario is that the world is bad and the India is bad and you need at least one of these two to be positive for us to be positive and right now both are bad and, therefore, I am bearish. The bullish scenario somebody will make is that when the world is bad, India benefits. When the world is bad, commodity prices fall and our valuations are low and all that. Broadly it may be right, but these things take 6-9 months to play out. Even if you see 2008 from the time Lehman Brothers had a problem and even oil had fallen, it does not mean that from next day, India started benefiting. It took six months and that also it took an event, which was the victory of the Congress at that time leading to that rally. It does not happen just automatically because oil was down. Today we do not know what big event we can look forward to which would suddenly change everybody's view and optimism on India in the short term.
So how are you positioning your portfolios to deal with medium term volatility and will you be surprised if Nifty goes below 4500?
Right now we are actually unfortunately more positioned to benefit from that than if it goes to 5500.
What about the currency market? Is the fall in rupee just an irritant or could it also impact the inflows in future?
Right now a super big irritant because in the last two months it has depreciated by 8% or 7.5% and unless you want to hedge it separately or lock it at this level, we have to let it go as far as we can because we think that at least that should come back, even if it comes back in 4-5 months. No point locking it at this price because now you can hedge it and pay another 1% or so, 2%. It is a big irritant because normally when we do day-to-day investing, we are only looking at shorting stocks. If you sell the longs, at least okay you protect because you convert it back to dollar, but mostly we do not sell the longs. We just short against them to try and neutralise the impact of the longs.
Do you see the gap between PSU and private banks narrowing down or do you see the gap will increase in coming quarters?
If you look at the PEs of Infosys, TCS and these 2-3 guys in the top and you looked at all the guys who have been IT company for the last 20 years, their profits may have gone up and down, but their PE differential never narrowed. Everybody is being evaluated on their own ground. For example, HDFC Bank has survived every cycle. You say overextension to brokers, you say derivative future selling, you say investments in infrastructure, you say restructured loans, every cycle they have somehow survived and, therefore, today it is actually only HDFC Bank and maybe a little bit IndusInd Bank because other banks are still falling even if they are in the private sector, like ICICI Bank, Axis Bank. So it is not even that all the private sector banks have held up well.
What will qualify as a buy on every decline and what is currently on your buy on decline list?
We these days do not have much on the shopping list, but basically we have tried to buy stocks which have some control on how much we can lose. One category can be to look at stocks which are down a lot, but where it is not apparent as to why they are down so much. Some of these infrastructure companies are down because they have high debt and they have no orders and they have earnings declines of 100% or they have made losses, but there are some other guys and I can talk about this company because I spoke about it yesterday, which is Arshiya International, which is India's first and only free trade warehouse zone owning company as it owns FTWZ. This is a great concept on the basis of which Dubai has basically created such a strong economy, the Jebel FTWZ, even Singapore is based on the same model. There is no way that India over time will not need maybe 20 such FTWZs, but right now there are only two and both are owned by Arshiya. So we like it a lot. It is down 50%. We had very little in the beginning, but basically we buy it everyday more or less because we do not know why it is down.
The other side is to buy something where there is limited upside, but slightly surer upside. So we own UTV Software where the logic is that the open offer Disney has made is at Rs 1000 and the price today is about Rs 970. It has not really ever happened that open offers get done at the initial offer price set by the acquirer. So normally in this bargaining, you get 20-25% more without much effort. Anyway people are buying defensive companies these days. It is PE based on Bloomberg is only 15 times. Disney anyway is a rich parent, already owns 50.5% of the company. So hopefully they will agree to all of us and pay 20-25% premium and we can have that relatively quickly in the next 3-4 months.
Do you see the bull market reviving, say, in the next one year?
I can see some returns next year after the world stabilises and Indian interest rate starts falling or plateauing and hoping that they are falling, but whether it is a multiyear bull run or a real bull run that needs more than this, but it is possible that the market can go up 20% odd next year. But my problem why I am negative is not for 2012, I am negative from now towards the end of 2011 first or not in the end, but for a few more months because the world is in a real bad shape and India may not be in a bad shape, but it is not so great as of today to be able to say to yourself that ignore the world because India is so good. That is the real issue.
Will you advise our viewers to start bottom fishing at current levels or it is too early to do that?
Viewers should always bottom fish because they have never invested in the market. For people who have some money and who will quickly run away and cover their shorts like we may do, it is very different, but investors can buy some companies which are down a lot or whatever suppose these or whatever names they like because they have zero investment. But if you have some investment in the market and you are quite alert, okay wait for a month, two month because right now the world is pretty bad and it will not be resolved by some Chinese government buying $2 billion of Italian bonds or kind of rumours that are in the world these days. Not rumours, but even if they are true because this problem is not going to be solved with $2 and $4 billion. I do not expect these kinds of events like yesterday itself that Chinese will buy Italian bonds and they will buy $100 billion of Italian bonds. If they buy 5 billion of Italian bonds or 10 billion, it only delays that, Italian bonds financing by two months or not delays, but averts any issue but really it does not change the current issues facing the world.
What are the key events or triggers, which will actually force you to cover your short positions?
The key triggers are first of all the market going up a lot, which makes us panic but that should normally be accompanied with some news that we can connect with it. That is if you see that for five days the US is not falling and after Greece has defaulted, if it has, for 5-10 days, 20 days, there is no issue of another bank being downgraded. Today they have downgraded Societe Generale or some other prices falling, then we can look at ourselves. So basically we can only see it from world stock markets not falling everyday or not falling and going up everyday 2-3%. India itself is nothing great, but if the world was stable, I would cover some of my shorts. That do not mean that I would become bullish, but I would not have such a low net.
Identify one business, one name, one theme for us where Samir Arora is ready to allocate disproportionate amount of money?
That is a problem. This time we have not changed our longs except we bought UTV. Even the other one we had some, we bought more. It is nothing new that we are buying because we like our stocks and even though they fall when the markets fall, some of it we try to neutralize by having shorts on the other side, which are in essence much more short-term oriented because if you tell me today that the world is good, okay, I do not care. I will cover my shorts because in my life, in my view I am bullish, but I just feel super nervous these days because we made the same mistake in 2008. We all made it in the market, this time not me, even last month that today Ben Bernanke is going to make a speech and suddenly he will turn the world and then after four days, President Obama will give some ideas. Logically if President Obama had ideas, he had two years in which he could have implemented them. The third is that two Italians will be meeting four Chinese today and, therefore, the market should be going up. So now I have given up because in 2008, we thought that Henry Paulson, the treasury secretary, knows everything because he was the Chairman of Goldman Sachs, so he knows what the problem was, he has solved it and I never thought that they also have no idea, which we now know by reading all the books. So shame on you if you fool us once, but shame on us if we get fooled every time.
~
Source : ET
Are you still bearish or you have covered your shorts?
Mostly I would say I have not changed my opinion because the outside world has not changed. The only real positive thing that we thought at that time was that the RBI would stop tightening, but right now maybe it looks a bit too late whether they stop or not at least for the next few months because the world has deteriorated much more in the last one month. Right now I am still sort of bearish in a bullish sense. I am overall bullish in life, but currently when I say I am bearish, that means I am relatively much less bullish and on the margin bearish.
What is the base case for your bullish as well as bearish stance?
The bear case scenario is that the world is bad and the India is bad and you need at least one of these two to be positive for us to be positive and right now both are bad and, therefore, I am bearish. The bullish scenario somebody will make is that when the world is bad, India benefits. When the world is bad, commodity prices fall and our valuations are low and all that. Broadly it may be right, but these things take 6-9 months to play out. Even if you see 2008 from the time Lehman Brothers had a problem and even oil had fallen, it does not mean that from next day, India started benefiting. It took six months and that also it took an event, which was the victory of the Congress at that time leading to that rally. It does not happen just automatically because oil was down. Today we do not know what big event we can look forward to which would suddenly change everybody's view and optimism on India in the short term.
So how are you positioning your portfolios to deal with medium term volatility and will you be surprised if Nifty goes below 4500?
Right now we are actually unfortunately more positioned to benefit from that than if it goes to 5500.
What about the currency market? Is the fall in rupee just an irritant or could it also impact the inflows in future?
Right now a super big irritant because in the last two months it has depreciated by 8% or 7.5% and unless you want to hedge it separately or lock it at this level, we have to let it go as far as we can because we think that at least that should come back, even if it comes back in 4-5 months. No point locking it at this price because now you can hedge it and pay another 1% or so, 2%. It is a big irritant because normally when we do day-to-day investing, we are only looking at shorting stocks. If you sell the longs, at least okay you protect because you convert it back to dollar, but mostly we do not sell the longs. We just short against them to try and neutralise the impact of the longs.
Do you see the gap between PSU and private banks narrowing down or do you see the gap will increase in coming quarters?
If you look at the PEs of Infosys, TCS and these 2-3 guys in the top and you looked at all the guys who have been IT company for the last 20 years, their profits may have gone up and down, but their PE differential never narrowed. Everybody is being evaluated on their own ground. For example, HDFC Bank has survived every cycle. You say overextension to brokers, you say derivative future selling, you say investments in infrastructure, you say restructured loans, every cycle they have somehow survived and, therefore, today it is actually only HDFC Bank and maybe a little bit IndusInd Bank because other banks are still falling even if they are in the private sector, like ICICI Bank, Axis Bank. So it is not even that all the private sector banks have held up well.
What will qualify as a buy on every decline and what is currently on your buy on decline list?
We these days do not have much on the shopping list, but basically we have tried to buy stocks which have some control on how much we can lose. One category can be to look at stocks which are down a lot, but where it is not apparent as to why they are down so much. Some of these infrastructure companies are down because they have high debt and they have no orders and they have earnings declines of 100% or they have made losses, but there are some other guys and I can talk about this company because I spoke about it yesterday, which is Arshiya International, which is India's first and only free trade warehouse zone owning company as it owns FTWZ. This is a great concept on the basis of which Dubai has basically created such a strong economy, the Jebel FTWZ, even Singapore is based on the same model. There is no way that India over time will not need maybe 20 such FTWZs, but right now there are only two and both are owned by Arshiya. So we like it a lot. It is down 50%. We had very little in the beginning, but basically we buy it everyday more or less because we do not know why it is down.
The other side is to buy something where there is limited upside, but slightly surer upside. So we own UTV Software where the logic is that the open offer Disney has made is at Rs 1000 and the price today is about Rs 970. It has not really ever happened that open offers get done at the initial offer price set by the acquirer. So normally in this bargaining, you get 20-25% more without much effort. Anyway people are buying defensive companies these days. It is PE based on Bloomberg is only 15 times. Disney anyway is a rich parent, already owns 50.5% of the company. So hopefully they will agree to all of us and pay 20-25% premium and we can have that relatively quickly in the next 3-4 months.
Do you see the bull market reviving, say, in the next one year?
I can see some returns next year after the world stabilises and Indian interest rate starts falling or plateauing and hoping that they are falling, but whether it is a multiyear bull run or a real bull run that needs more than this, but it is possible that the market can go up 20% odd next year. But my problem why I am negative is not for 2012, I am negative from now towards the end of 2011 first or not in the end, but for a few more months because the world is in a real bad shape and India may not be in a bad shape, but it is not so great as of today to be able to say to yourself that ignore the world because India is so good. That is the real issue.
Will you advise our viewers to start bottom fishing at current levels or it is too early to do that?
Viewers should always bottom fish because they have never invested in the market. For people who have some money and who will quickly run away and cover their shorts like we may do, it is very different, but investors can buy some companies which are down a lot or whatever suppose these or whatever names they like because they have zero investment. But if you have some investment in the market and you are quite alert, okay wait for a month, two month because right now the world is pretty bad and it will not be resolved by some Chinese government buying $2 billion of Italian bonds or kind of rumours that are in the world these days. Not rumours, but even if they are true because this problem is not going to be solved with $2 and $4 billion. I do not expect these kinds of events like yesterday itself that Chinese will buy Italian bonds and they will buy $100 billion of Italian bonds. If they buy 5 billion of Italian bonds or 10 billion, it only delays that, Italian bonds financing by two months or not delays, but averts any issue but really it does not change the current issues facing the world.
What are the key events or triggers, which will actually force you to cover your short positions?
The key triggers are first of all the market going up a lot, which makes us panic but that should normally be accompanied with some news that we can connect with it. That is if you see that for five days the US is not falling and after Greece has defaulted, if it has, for 5-10 days, 20 days, there is no issue of another bank being downgraded. Today they have downgraded Societe Generale or some other prices falling, then we can look at ourselves. So basically we can only see it from world stock markets not falling everyday or not falling and going up everyday 2-3%. India itself is nothing great, but if the world was stable, I would cover some of my shorts. That do not mean that I would become bullish, but I would not have such a low net.
Identify one business, one name, one theme for us where Samir Arora is ready to allocate disproportionate amount of money?
That is a problem. This time we have not changed our longs except we bought UTV. Even the other one we had some, we bought more. It is nothing new that we are buying because we like our stocks and even though they fall when the markets fall, some of it we try to neutralize by having shorts on the other side, which are in essence much more short-term oriented because if you tell me today that the world is good, okay, I do not care. I will cover my shorts because in my life, in my view I am bullish, but I just feel super nervous these days because we made the same mistake in 2008. We all made it in the market, this time not me, even last month that today Ben Bernanke is going to make a speech and suddenly he will turn the world and then after four days, President Obama will give some ideas. Logically if President Obama had ideas, he had two years in which he could have implemented them. The third is that two Italians will be meeting four Chinese today and, therefore, the market should be going up. So now I have given up because in 2008, we thought that Henry Paulson, the treasury secretary, knows everything because he was the Chairman of Goldman Sachs, so he knows what the problem was, he has solved it and I never thought that they also have no idea, which we now know by reading all the books. So shame on you if you fool us once, but shame on us if we get fooled every time.
~
Source : ET
Petrol prices hiked by Rs 3.14 per litre effective midnight
NEW DELHI: State-owned oil firms raised petrol prices by Rs 3.14 per litre as the rupee touched two-year low against the US dollar, increasing the cost of importing crude oil. The hike will be effective from midningt.
"Oil retailers are losing Rs 2.61 per litre or Rs 15 crore per day on sale of petrol. Together with local taxes, the hike needed to level domestic rates with international prices is about Rs 3 per litre," a top government official said.
IOC, BPCL and HPCL have lost Rs 2,450 crore this fiscal on selling petrol -- whose rates were freed from government control in June last year -- below the cost.
"At current rate, oil firms will accrue another Rs 2,850 crore of loss on sale of petrol, taking the total loss on a fuel that was freed from control, to Rs 5,300 crore for the full fiscal," the official said, adding, "Oil firms will have to take a call on raising petrol price soon."
Besides petrol, the three firms are losing Rs 263 crore per day on selling diesel, domestic LPG and kerosene below cost. Diesel is being sold at a subsidy of Rs 6.05 a litre, kerosene at Rs 23.25 per litre while domestic LPG rates are under-priced by Rs 267 per 14.2-kg cylinder.
"The industry lost around Rs 65,000 crore in the first half of the current fiscal on the three products and for the full year the revenue loss is estimated at Rs 121,571 crore at the price of Indian basket at USD 110 per barrel," said the official.
Indian Oil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) had last raised petrol price by Rs 5 a litre in May. Diesel, domestic LPG and kerosene price were hiked in June by Rs 3 per litre, Rs 50 per cylinder and Rs 2 per litre.
The government had in June last year decontrolled petrol price but continues to dictate diesel, domestic LPG and kerosene rates. However, petrol price has not moved in tandem with its cost, keeping in mind the government's concerns on inflation which climbed to 9.78 percent in August.
"The losses on the four products have meant that oil companies borrowed to meet even their working capital requirement," the official said.
The combined borrowing levels of the oil marketing companies has increased from Rs 96,700 crore in March 2011 to Rs 120,000 crore in August 2011. "The increase is mostly towards short term borrowings to fund working capital requirements," he said.
The basket of crude oil that India buys had averaged USD 85.09 per barrel in 2010-11. From April-September, it has averaged USD 111.64 per barrel, a 31 per cent increase over the last fiscal (2010-11).
The Indian basket of crude oil averaged USD 106.94 per barrel in August and USD 110.88 a barrel in September.
"Due to hardening of crude/petroleum product prices in the international market and depreciation of rupee viz-a-viz dollar, the under-recoveries of oil marketing companies have been increasing during 2011-12," the official added.
"Oil retailers are losing Rs 2.61 per litre or Rs 15 crore per day on sale of petrol. Together with local taxes, the hike needed to level domestic rates with international prices is about Rs 3 per litre," a top government official said.
IOC, BPCL and HPCL have lost Rs 2,450 crore this fiscal on selling petrol -- whose rates were freed from government control in June last year -- below the cost.
"At current rate, oil firms will accrue another Rs 2,850 crore of loss on sale of petrol, taking the total loss on a fuel that was freed from control, to Rs 5,300 crore for the full fiscal," the official said, adding, "Oil firms will have to take a call on raising petrol price soon."
Besides petrol, the three firms are losing Rs 263 crore per day on selling diesel, domestic LPG and kerosene below cost. Diesel is being sold at a subsidy of Rs 6.05 a litre, kerosene at Rs 23.25 per litre while domestic LPG rates are under-priced by Rs 267 per 14.2-kg cylinder.
"The industry lost around Rs 65,000 crore in the first half of the current fiscal on the three products and for the full year the revenue loss is estimated at Rs 121,571 crore at the price of Indian basket at USD 110 per barrel," said the official.
Indian Oil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) had last raised petrol price by Rs 5 a litre in May. Diesel, domestic LPG and kerosene price were hiked in June by Rs 3 per litre, Rs 50 per cylinder and Rs 2 per litre.
The government had in June last year decontrolled petrol price but continues to dictate diesel, domestic LPG and kerosene rates. However, petrol price has not moved in tandem with its cost, keeping in mind the government's concerns on inflation which climbed to 9.78 percent in August.
"The losses on the four products have meant that oil companies borrowed to meet even their working capital requirement," the official said.
The combined borrowing levels of the oil marketing companies has increased from Rs 96,700 crore in March 2011 to Rs 120,000 crore in August 2011. "The increase is mostly towards short term borrowings to fund working capital requirements," he said.
The basket of crude oil that India buys had averaged USD 85.09 per barrel in 2010-11. From April-September, it has averaged USD 111.64 per barrel, a 31 per cent increase over the last fiscal (2010-11).
The Indian basket of crude oil averaged USD 106.94 per barrel in August and USD 110.88 a barrel in September.
"Due to hardening of crude/petroleum product prices in the international market and depreciation of rupee viz-a-viz dollar, the under-recoveries of oil marketing companies have been increasing during 2011-12," the official added.
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