Skip to main content

Cheap Insurance Covers

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

 



Some products and services have insurance covers most buyers don't know about. The best part is, usually, these are free or quite cheap.

 

For example, there are covers given along with liquefied petroleum gas (LPG) cylinders, up to a whopping ₹ 40 lakh in case of loss of life or damage to property due to cylinder explosions.

 

Though there are a number of LPG cylinder explosions, causing loss to life and property, no one seems to be aware of an insurance cover available for LPG consumers in such cases.

 

Here's what the Hindustan Petroleum Corporation (HPCL) website says: All registered HP gas consumers are insured against the outcome of an accident at their registered premises due to LPG. Details are available with all the distributors and the customer service cell. HPCL has also taken a public liability insurance policy. All other oil marketing companies (OMCs) have purchased these covers for their customers.

 

But dealers do not bother to inform customers. It is a group cover bought by OMCs for LPG customers," said a Bharat Petroleum Corporation Ltd (BPCL) spokesperson.

 

Dealers have to pay the premium to insurance companies. Consumers don't have to pay for the insurance cover at all. The BPCL spokesperson said as and when accidents were reported, the process of providing insurance claim was undertaken. But experts say the number of claims filed every year is minuscule. The scheme provided personal- accident cover to third parties and customers and also covered property damage at customer premises, according to the policy, the spokesperson added.

 

To claim this insurance, one has to contact the distributor and file a claim. Within 30 days of the insurance company completing its survey, the money will be paid. However, one has to keep certain things in mind. For instance, if you do not use accessories (gas pipes, regulator, etc) with ISI marks, you may be denied the claim amount. Request your gas dealer for a maintenance check on an annual basis. You will lose the claim money if a maintenance check hasn't been conducted. Also, keep the maintenance check receipt as proof.

 

 

Protecting buyers

 

White- good manufacturers offer insurance protection against the risk of loss or damage to domestic appliance(s) one buys. The cover is provided against electrical or mechanical breakdown and comes under the purview of home appliance insurance. One can get this on single appliances, too. These covers are common during festive seasons. Though these are made to look free, the appliance cost includes apercentage of insurance cost, around ₹ 100- 200.

 

Otherwise, these are offered selectively and sometimes openly charged for, too. Some feel instead of buying a policy for one or two products from the manufacturer, shopping for a householder's policy on your own will secure a higher cover for less.

 

Also, one has to be careful with the cover provided by the manufacturer.

 

Some plans allow you to choose any service centre, while others may allow only select ones. And, some plans allow an individual to choose his/ her own replacement unit, while others allow one to choose from a list of units provided by them.

 

Third party liability for travelling

 

As third- party motor insurance is mandatory for all private and commercial vehicle owners,

All commercial vehicles own third- party liability covers for commercial vehicles. If passengers on any of these vehicles die or are injured, claims can be made under the commercial third- party cover. According to experts, passengers are covered for ₹ 5- 10 lakh each. Till 2008, Indian Railways also provided a separate cover for passengers.

 

Since then, the Railways hasn't bought insurance. It had a passenger insurance scheme, through which ₹ 4 lakh was provided in case of death. In injuries resulting from train accidents or any untoward incident, passengers were given ₹ 32,000- 4 lakh.

 

 

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

Popular posts from this blog

How EEE and EET Tax affect Retirement Investments

  An important factor while choosing a financial product is its taxation , and for retirement savings, this is even more important as the sums involved are usually life-long savings. Here's a look at the current tax treatment of three major long-term retirement planning products, which are - Employees' Provident Fund (EPF), Public Provident Fund (PPF) and National Pension System (NPS). EPF The tax treatment is EEE, which means your money is exempt from taxes at the time of investment, accumulation and withdrawal. At the time of investment, the tax deduction is under the limit of section 80C of the Income-tax Act , which is currently Rs 1.5 lakh. Partial withdrawals are also tax-free if made after 5 years of continuous service. If withdrawals are made before 5 years of service, 10% tax will be deducted at source. Exceptions have also been provided for transfer of amount and conditions wherein the subscriber is unemployed for more than 2 months or the loss of job was beyond th...
Read more

Inflation Indexed National Savings Securities - Tax Treatment

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   Inflation Indexed Bond - Tax Treatment Tax treatment on interest and principal repayment would be as per the extant taxation provision. The quoting of Permanent Account Number (PAN) mandatory for investment amounting to `50,000 (Rupee fifty thousand) and more. However, following exemptions with regard to PAN requirement will apply: As per Income Tax Rule 114B, any person who does not have a PAN and who enters into any specified transaction shall make a declaration in Form No.60. As per Rule 114C, the requirement of PAN is not applicable to the person who has agriculture income and does not have any other income provided he makes a declaration in Form 61, non-residents as referred to in Section 2(30) of the Income Tax Act, and...
Read more

Change in Fund Manager for some of HSBC Mutual Fund Schemes

Buy Gold Mutual Funds Invest Mutual Funds Online Download Mutual Fund Application Forms Call 0 94 8300 8300 (India) However, this facility is only available to Unit holders who have been assigned a folio number by the AMC.   HSBC Mutual Fund has announced that the below mentioned schemes shall be managed by the new fund managers as stated in the table. The effective date will be July 02, 2012.   Amaresh Mishra 's will be Vice President and Assistant Fund Manager. Having done a Post graduate diploma in Business Management and Bachelor of Chemical Engineering, he has over seven years of experience in Equities and Sales.   Mr. Piyush Harlalka's designation shall be Vice President- Fixed Income. Qualified as a C.A., C.S. and holding M.B.A.( Finance degree), he has over six years of experience in Fund management and ...
Read more

Strategy for loss making stock holding

Some tips for investors who are holding stocks that have eroded value in the recent corrections After a dream bull run over the last four years, the domestic markets are in the grip of a slowdown from the last six months. There have been a couple of pull back rallies but every rally is followed by a correction and the markets are falling to new lows in each correction phase. There is a lot of negative news flowing in from all ends and as a result the markets hit their lowest levels in 2008 recently. Currently, the market sentiments look quite bearish. Rallies in the markets are quite short lasting and most of them end in intraday or at the most in a couple of days. There are selling pressures at every level in the market. Many stocks have come down 40 to 60 percent from their peak levels. Stocks and sectors that led the market rally last year are the worst hit in this correction. For example, stocks in banking, financial services, power, energy and infrastructure have seen much deeper...
Read more

Rs 14,000 Crore worth of tax free bonds coming soon from NHAI , PFC

  NHAI, PFC file prospectuses, coupon rate not yet decided MORE debt investment options have opened up for investors with AAA rated tax-free bonds worth over Rs 14,000 crore lined up. The National Highway Authority of India ( NHAI ) and Power Finance Corporation ( PFC ) are offering Rs 10,000 crore and Rs 4,033.13 crore worth of tax-free bonds, respectively, as per prospectuses filed with the Securities and Exchange Board of India (Sebi). Of a Rs 5,000 crore issue by PFC, Rs 966.87 crore has already been raised through private placement on September 28 and November 1. Tax-free bonds give investors tax-free return on any amount invested. In another kind of bonds, the long-term infrastructure bonds, investments up to Rs 20,000 are tax exempt, that is this cap amount can be deducted from the taxable income. Accordingly, the NHAI prospectus has clarified that only the amount of interest from -and not the actual investment on -its new bonds will be tax-free. "NHAI's publ...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now