Career Search

Friday, December 20, 2013

What Happens If Your Home Is Under Insured?

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

Mr Ravi had purchased a house of INR 50 Lakhs. He took a basic home insurance cover against structural damage for an amount of INR 10 Lakhs. Mr Ravi's house was badly damaged in a fire and rebuilding was necessary. As five years had past Mr Ravi discovered to his dismay that the reconstruction costs would now cost around INR 18 Lakhs. The severe shortage of sand had led to a massive price hike in the reconstruction costs. What advice would one give Mr Ravi?

After assessing the damage the Insurance Company stated that Mr Ravi would be compensated only an amount of up to INR 10 Lakh. Insurance Companies give a leeway of up to 10-15% owing to the change in prices of the construction. If one is underinsured it means that he has to bear the expenses up to the cost underinsured from one's own pocket. Mr Ravi had to bear a cost of INR 8 Lakhs from his own pocket. Surely a lesson for one to learn from this example .It is also important to note that if one stays in an apartment and if a flood were to destroy it then one cannot reinstate the apartment by oneself. Hence the whole society needs to get the apartment insured. Surely A Stitch In Time Saves Nine.

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. ICICI Prudential Tax Plan Invest Online
  2. HDFC TaxSaver Invest Online
  3. DSP BlackRock Tax Saver Fund Invest Online
  4. Reliance Tax Saver (ELSS) Fund Invest Online
  5. Birla Sun Life Tax Relief '96 Invest Online
  6. IDFC Tax Advantage (ELSS) Fund Invest Online
  7. SBI Magnum Tax Gain Scheme 1993 Invest Online
  8. Sundaram Tax Saver Invest Online
  9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds Invest Online
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds Invest Online
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds Invest Online
      1. DSP BlackRock MicroCap Fund
    1. Sector Funds Invest Online
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    1. Tax Saver MutualFunds Invest Online
      1. ICICI Prudential Tax Plan
      2. HDFC Taxsaver
      3. DSP BlackRock Tax Saver Fund
      4. Reliance Tax Saver (ELSS) Fund
    2. Gold Mutual Funds Invest Online
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund

No comments: