ASK

How can I calculate the amount of life insurance that I need?

The simplest method is ‘Income Replacement’ method, which is based on your current annual income

ASK

Are there equity funds that also double up as tax savers?

Yes, there is a type of diversified equity fund known as equity-linked savings schemes

ASK

What shares and mutual funds should I invest now to build Rs 10 lakhs?

Start investing regularly through SIPs which will help you benefit from the power of compounding & cost averaging

ASK

I have earned savings bank interest. Is all of it taxable?

The interest earned from savings bank is taxable under the head ‘Income from Other Sources’

ASK

What are the main features of money back policies?

These are endowment plans that periodically return a certain percentage of the sum assured over the plan’s term

ASK

Should I put my money into PPF or mutual funds?

The difference between PPF and mutual fund is that PPF guarantees returns, something mutual funds do not & cannot

ASK

My signature is not matching with AMC records. What should I do to get my money?

Signature mismatch is a common occurrence, which is why several AMCs have a separate signature attestation form

ASK

Can deteriorating health be a reason to re-load the premium of life policy?

Life insurance policies are long-term contracts and the insurer cannot change the terms & conditions unilaterally

ASK

Should I continue investing in postal RD or close the deposit?

It appears that your parents wish to make regular savings, take fewer risks and prefer a fixed return investment

ASK

Is there any online provision for making a Will?

You can draw up a Will online without consulting a lawyer as long as your estate is not vast or complicated