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Mumbai (Maharashtra) [India], December 18: The term insurance vs savings plan has already brought a lot of comparisons many people continue to face in the dynamic world of financial planning. Indeed, both are very useful, but they serve two different purposes. Term insurance is used to offer your dependents protection financially while saving plans are useful in accumulating money for use at some later time. In this blog, we have covered the term plan vs savings plan differences, their benefits, and their role in financial planning. Also Read | New Year's Eve Traditions For Good Luck in 2025: From Splashing Plates to Wearing White, Fun NYE Traditions From Around the World to Ring In New Year. What is Term Insurance? Term insurance is a life insurance plan which is a plain vanilla insurance product that aims at giving your family financial cover in the occurrence of your unexpected death. It offers large exposure at cheap rates, and this way, this scheme turns into an economically viable venture to make sure that all needs of the family are financially provided for even by the breadwinner's death. Also Read | Ravi Ashwin Retires: Australia Off-Spinner Nathan Lyon Pays Tribute As India Star All-Rounder Bids Farewell to International Cricket, Says 'Nothing but Respect for Him' (Watch Video). Key features of term insurance: * Affordable Premiums: Thus, called as permanent insurance, the term insurance provides coverage more than the other types of life insurance at a cheaper rate. * Tax Benefits: This too has a life insurance tax benefits for the money paid towards term insurance as it can be claimed under section 80C of the Income Tax Act which also makes it an economical method of insurance. * Flexibility: You can choose the duration of the policy and increase the policy amount by adding riders such as crucial disease or accidental death benefits. What is a Savings Plan? A saving plan can therefore be described as a form of life assurance product that enables people to save money and at the same time accumulate some capital more systematically while being insured. Key Benefits of Savings Plans: * Dual Benefit: Combines life insurance protection while saving systematically. * Accumulation of Wealth: Generates a corpus over time so that future financial demands can be met. * Tax Benefit: The premiums paid qualify for a deduction under Section 80C. The maturity sum might also get tax relief under Section 10(10D). * Adaptable Policies: Choices such as assured returns, flexible premiums, and bonuses in return make the savings policy adjust to every financial objective. Term life insurance has the following benefits; * Lifetime Protection: Coverage is obtained for your lifetime, so long as the premiums are being paid over your lifetime. * Cash Value Accumulation: Some of your premiums are invested and therefore your cash value rises as time goes by. * Tax Benefits: Term insurance also has the advantage of having a tax shield under sections 80C & 10(10D). Term Plan vs Savings Plans in Financial Planning * Start with Protection: Start with term insurance to protect your family's monetary position. You can select an amount that should be at least 10-15 times your annual income for meeting liability, education and even living expenses. * Build Wealth: Next, you will get into an accumulation plan to provide for your medium and long-term needs that may include, providing for a house, children's education, and marriage, among others. This form of investment assists you in creating wealth as you plan for your family's security. * Use in conjunction with whole-life insurance: For those in search of steady protection together with cost-saving, whole-life insurance may be worthwhile to have in your portfolio. * Review and Adjust Regularly: Insurance and investments have to be reviewed in consonance with the changes that occur in your financial cycles and objectives. * Maximizing Tax Benefits: The most significant advantage that policyholders have by choosing life insurance policies is that they help save money on taxes. Whether the policy covers terms, savings, or whole life insurance, the payable premium automatically gives the holder a Section 80C deduction. Which One Would Suit Me? * Term Insurance: Especially suitable for young people, parents who have dependents or people who need cheap insurance to protect their families. * Savings Plan: Ideally suited for consumers, who have fixed targets to achieve such as education, house or retirement and who are focused on saving. Conclusion This distinction takes care of financial planning which when combined with an understanding of other products like investment, savings and endowment products can either be term insurance products to meet risk exposure obligations or savings products to provide for monetary needs. To understand savings vs term plan in layman language, term insurance covers your family in your absence: saving plans enable you to achieve your set financial goals. By including such products and considering the possibilities of whole life insurance, people can build proper and safe financial strategies. This was your guide to understanding term insurance and savings plans. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
New Delhi [India], January 8 (ANI): The upcoming union budget 2025-26 should focus on giving personal tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from Rs 3 lakhs to Rs5 lakhs and reducing tax rates, suggests global consulting and professional services firm Ernst & Young India (EY India). EY India also asks for deferring tax deduction at source (TDS) on PF interest rate (above 2.5 lakhs) until the withdrawal stage to reduce compliance burden. In the previous budget TDS rate rationalization was undertaken to a certain extent. To further simplify th ...Read More >
CCI has also approved a 25.18 per cent equity stake in Future Generali India Life Insurance Company Ltd (FGILICL) through a bid/resolution plan submitted by Central Bank of India | Image: Wikimedia Commons State-owned Central Bank of India on Thursday said it has acquired a 25.18 per cent stake in Future Generali India Life Insurance Company Limited (FGILICL) for a cash consideration of Rs 57 crore as part of the insolvency process. With the acquisition of 65,43,80,439 shares on Wednesday (June ...Read More >
Mumbai, Jun 6 (PTI) How to dismiss Cheteshwar Pujara? It was the million dollar question Rohit Sharma and his Mumbai teammates discussed the most in a huddle during their junior cricket days, as they knew the Saurashtra batter could ground them to the dust over two or three days of persistent batting. Rohit reminisced that the wicket of Pujara was often the difference between a victory or defeat for his team in age-group matches, the early signs of the doughty batter who made 7,195 runs at 43.60 with 19 tons and 35 fifties from 103 Tests. "I still remember, team meetings only revolved around ...Read More >
BENGALURU: Marketing and Revenue Head of the Royal Challengers Bengaluru (RCB), Nikhil Sosale, on Friday approached Karnataka High Court challenging his arrest in connection with the stampede at Bengaluru's M Chinnaswamy Stadium during the RCB's victory celebration. Sosale was arrested by the Bengaluru Police in the early hours of June 6 (Friday). He has contended that the arrest was illegal, arbitrary and not in accordance with the law. He claimed that he was arrested without any materials and even before the police had conducted a preliminary enquiry. He has thus sought to declare his arr ...Read More >
NEW DELHI: Government is all set to allow 100% foreign direct investment in insurance business, paving the way for large companies to enter the market on their own, while allowing individual insurance agents to hawk policies of multiple companies, lifting the cap on being associated with only one life and general insurer. The twin measures are part of the Insurance Amendment Bill that is proposed to be introduced during the winter session of Parliament that kicks off later this month. On August 19, TOI was the first to report about the proposed increase in the FDI ceiling, a suggestion which ...Read More >
Former Delhi Chief Minister Arvind Kejriwal announced several pre-election promises targeting auto drivers. These include a ₹10 lakh insurance policy, ₹1 lakh for daughters' marriages, a biannual ₹2,500 uniform allowance, free coaching for their children, and the relaunch of the 'PoochO' ride-booking app. Kejriwal and the AAP are campaigning to secure a third term in the upcoming February elections.Ahead of crucial Delhi assembly polls, Arvind Kejriwal promised several measures for auto dri ...Read More >
BusinessWire India Noida (Uttar Pradesh) [India], December 11: Comprehensive insurance policies are very helpful for two-wheeler owners as they protect them from financial losses incurred on their own vehicles and also cover third-party liability. Because of its all-round nature, many refer to them popularly as 'package' insurance. However, in India, many people do not opt for comprehensive two-wheeler insurance as the government has not made it compulsory. However, it is highly recommended that two-wheeler owners get one, and we have covered the reasons for this in this guide. How are Comp ...Read More >
Prayagraj (Uttar Pradesh) [India], February 7 (ANI): Bihar Governor Arif Mohammed Khan arrived at the Mahakumbh in Prayagraj on Friday and said that the 'Sanatana' culture embodies the oneness of being and that all the differences dissolve in it. Speaking to the media here, Arif Khan highlighted the Indian culture of seeing divinity in humanity, asserting that "manav" (humans) are a reflection of "Madhav" (God). Khan also noted that India's heritage, values, and ideals continue to be celebrated at the Mahakumbh, fostering unity among people beyond personal familiarity. "We should always not ...Read More >
Hyderabad: In a significant boost for 'Make in India' and 'Atmanirbharta' in the aerospace and defence sector, and Hyderabad's growing stature as a global aerospace hub, the complete fuselage of the Rafale fighter jet will now be made in India at Hyderabad. This move marks the first time that these Rafale components will be manufactured outside France for the Indian as well as global markets.French aerospace major Dassault Aviation has signed four production transfer agreements with Tata Advanced Systems Ltd (TASL) for manufacturing key sections of the Rafale fighter jet, including the lateral ...Read More >
Bengaluru (Karnataka) [India], June 6 (ANI): Amid Opposition's backlash over the Bengaluru stampede, Karnataka Deputy CM DK Shivakumar, on Friday asserted that the government has don't its best to give justice and soon it will come up with a plan to ensure such events do not happen in future. Speaking with the media, Shivakumar said, 'My Chief Minister was kind enough to announce a judicial inquiry. Action has been taken on some of them. Investigation is underway. Action has been taken, and the case has been handed over to the CID. What more can the Government do? The government has done its ...Read More >
Bengaluru (Karnataka) [India], June 6 (ANI): A complaint has been filed against cricketer Virat Kohli at the Cubbon Park Police Station in connection with the June 4 stampede near Bengaluru's Chinnaswamy Stadium that claimed 11 lives and left dozens injured. The complainant, social activist HM Venkatesh, accused Kohli of promoting what he described as "gambling through IPL," alleging it incited the massive crowd that led to the tragedy. Also Read | PM Narendra Modi's Panch Pran Initiative Inspired by Shivaji Maharaj's Hindavi Swaraj, Says Jyotiraditya Scindia. Police said the complaint will ...Read More >
Mumbai (Maharashtra) [India], December 11 (ANI): Launched to bring the excitement of street cricket to a professional platform and showcase the country's cricketing talent, the Indian Street Premier League (ISPL) became an instant success during its inaugural season earlier this year. According to a press release, the league's second season is scheduled to be held in Mumbai from January 26 to February 15, 2025. "Indian Street Premier League is a great platform for India's cricket talent, and the inaugural season highlighted the immense potential of this tournament. ISPL not only created oppor ...Read More >
Bengaluru (Karnataka) [India], June 5 (ANI): A day after the tragic stampede during the IPL victory celebration event of the Royal Challengers Bengaluru (RCB) in Bengaluru that left 11 dead and dozens injured, Karnataka Chief Minister Siddaramaiah on Thursday said that a one-member commission has been formed to probe the incident. CM Siddaramaiah also announced that the state government has decided to suspend top police department officials, including the Commissioner of Bengaluru City Police. Speaking to the media, the Karnataka CM stated, 'Under the chairmanship of Justice Michael D'Cunha, ...Read More >
Bengaluru (Karnataka) [India], June 6 (ANI): Venu, one of the injured in the stampede that took place outside the Chinnaswamy Stadium in Bengaluru on June 4, is undergoing treatment at a hospital, recounted the tragedy that left eleven people dead and many more injured. The incident occurred when a massive crowd of fans gathered to greet the Royal Challengers Bengaluru (RCB) after they had won the IPL. 'We went to watch the event near gate no. 6 around 3:30 pm yesterday. The barricade fell and caused injury to me. I received a fracture. I'm better now, but I can't walk. Three of us went ther ...Read More >
Dharamshala (Himachal Pradesh) [India], December 11 (ANI): A parliamentary delegation from New Zealand and Fiji on Wednesday highlighted their solidarity with the Tibetan people's ongoing struggle for freedom. The event, which was held on Tuesday, followed the Central Tibetan Administration's official commemoration of the 35th anniversary of the Dalai Lama receiving the Nobel Peace Prize. Also Read | Joe Biden Slams US President-Elect Donald Trump's Tariff Approach, Calls 'Action a Major Mistake'. The delegation, which included New Zealand Members of Parliament (MPs) Joseph Mooney, Ingrid L ...Read More >
PRNewswire Chennai (Tamil Nadu) [India], December 13: Star Health and Allied Insurance Company Limited, the first standalone health insurance company in India, today announced the launch of its revolutionary retail health insurance product, 'SUPER STAR'. This innovative policy offers a long-term policy for the retail health segment, combining advanced features and highly customisable covers to address the growing complexities of modern lifestyles, rising medical expenses, and unforeseen emergencies. * Offers a long-term policy and unparalleled, highly customisable solutions for evolving heal ...Read More >
Following a stampede at an IPL victory celebration in Bengaluru that resulted in 11 fatalities, Karnataka Chief Minister Siddaramaiah has suspended several top police officials for negligence. A judicial inquiry, led by Justice John Michael D'Cunha, will investigate the incident, along with a CID probe into RCB, KSCA, and DNA Entertainment Networks.Karnataka Chief Minister Siddaramaiah on Thursday announced the suspension of Bengaluru City Police Commissioner B Dayanand, Additional Commissioner ( ...Read More >
Karnataka Deputy Chief Minister D K Shivakumar expressed grief over the stampede near Chinnaswamy Stadium, lamenting the loss of lives and the damage to Bengaluru's reputation. He dismissed opposition allegations and accusations of playing politics, emphasizing the government's responsibility.Karnataka Deputy Chief Minister D K Shivakumar on Thursday turned emotional over the loss of lives due to the stampede near the Chinnaswamy Stadium and said that Bengaluru has lost its image due to the incid ...Read More >
New Delhi [India], June 6 (ANI): IFFCO Managing Director (MD), U S Awasthi on Friday met Union Home Minister Amit Shah at his residence office in New Delhi. During the meeting, Awasthi briefed and updated the Minister on the overall performance of Indian Farmers Fertiliser Cooperative (IFFCO) for the Financial Year 2024-25, a strong testament to the vision of Sahakar Se Samriddhi under his dynamic guidance. Awasthi also apprised him of the progress at the seed research and development facility at IFFCO's Kalol Unit in Gujarat. Furthermore, both had a meaningful discussion on strategies to en ...Read More >
Silchar: Assam chief minister Himanta Biswa Sarma on Friday visited the flood-ravaged districts of Hailakandi and Sribhumi in the Barak Valley. He assured affected residents of providing timely disbursement of rehabilitation grants and swift repair of damaged infrastructure.This marks Sarma's second visit to the flood-hit region within four days, underscoring the gravity of the situation. Speaking to the media in Sribhumi after inspecting multiple relief camps, the CM said, "Flood-related problems may persist till July. I will return before Durga Puja to ensure that roads and infrastructure ar ...Read More >
New Delhi [India], December 15 (ANI): A friendly cricket match between Parliamentarians under Rajya Sabha Chairman XI and Lok Sabha Speaker XI is being played at Major Dhyan Chand National Stadium on Sunday. BJP MP Anurag Thakur captained Lok Sabha Speaker XI while Union Minister Kiren Rijiju led Rajya Sabha Chairman XI. The friendly affair has been named 'TB Mukt Bharat awareness cricket match'. Speaking to ANI, Union Minister Kiren Rijiju says, "Several of our MP colleagues have come here. With the mantra of fitness...this event has been scheduled to fill people with vigour through sports. ...Read More >
India Budget: The Union Budget 2025-26 should prioritise giving tax relief to common taxpayers by raising the basic exemption limit in the new tax regime from ₹3 lakh to ₹5 lakh and lowering tax rates, according to Ernst & Young India (EY India), a global consulting firm. EY India also recommended delaying the tax deduction at source (TDS) on provident fund (PF) interest above ₹2.5 lakh until the withdrawal stage to reduce the compliance burden on taxpayers. Also Read: India to simplify decades-old income tax filing rules in Budget In the last budget, some TDS rate rationalisation was intro ...Read More >
Karnataka State Cricket Association (KSCA) President Raghu Ram Bhat and a few other office bearers moved the Karnataka High Court on Friday seeking to quash the FIR filed against them in the Chinnaswamy stadium stampede case. Police on Thursday registered an FIR against RCB, event management firm DNA entertainment private limited, and Karnataka State Cricket Association (KSCA). Karnataka Chief Minister Siddarmaiah too on Thursday had instructed the state DGP and IGP to immediately arrest the re ...Read More >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...Read More >
Bengaluru (Karnataka) [India] June 6 (ANI): Following the death of 11 people in a stampede on Wednesday near the Chinnaswamy Stadium in Bengaluru, Royal Challengers Bengaluru (RCB), DNA (event management company) officials have been taken into custody and are being taken for medical tests, on Friday. On June 4, the incident happened at Bengaluru's M Chinnaswamy stadium as a huge crowd of nearly three lakh people had gathered to witness the victory celebration of Royal Challengers Bengaluru, which won the Indian Premier League (IPL). https://x.com/ANI/status/1930900689351303502 Karnataka Pol ...Read More >
Amante Capital, KKR's dedicated European hospitality platform, will serve as managing partner to the joint venture LONDON--(BUSINESS WIRE)--Leading investment firms KKR and The Baupost Group today announced a joint venture to purchase a portfolio of 33 Marriott International (NASDAQ:MAR) hotels across the UK from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Amante Capital, KKR's vertically integrated European hospitality platform, will serve as managing partner for the joint venture and the properties will continue as premium Marriott branded hotels. The portfolio ...Read More >
Mumbai (Maharashtra) [India], December 4 (ANI): Legendary cricketer Sachin Tendulkar announced on Wednesday that his daughter Sara Tendulkar has joined the Sachin Tendulkar Foundation (STF) as director. In a post on X, Sachin Tendulkar said he was "overjoyed" to share the news. Also Read | Newcastle United vs Liverpool Premier League 2024-25 Free Live Streaming Online: How To Watch EPL Match Live Telecast on TV & Football Score Updates in IST?. Sachin said that Sara embarked on this journey to empower the nation through sports, healthcare, and education. "I'm overjoyed to share that my dau ...Read More >
Pune (Maharashtra) [India], June 6: Bajaj Markets simplifies access to personal loans from multiple financial partners, and facilitates the funding for diverse needs, including travel, wedding expenditures, and medical emergencies. Users can easily compare vital loan specifics like interest rates, available loan amounts, and repayment tenures, and select those that align with their specific requirements and preferences. Also Read | Arietids Meteor Shower 2025 Peaks on June 7: Why Is It Known As the Most Active Daytime Meteor Shower? How To Watch the Shooting Stars and Other Important Details ...Read More >
Mumbai (Maharashtra) [India], December 3 (ANI): India cricket icon Sachin Tendulkar met his childhood friend Vinod Kambli and unveiled a memorial of renowned cricket coach Ramakant Vitthal Achrekar at the Chhatrapati Shivaji Maharaj Park on Tuesday. Maharashtra Navnirman Sena (MNS) chief Raj Thackeray, former cricketer and Sachin's childhood friend Vinod Kambli, former India batting coach Sanjay Bangar, former bowling coach Paras Mhambrey, Pravin Amre, 1983 World Cup-winning player Balwinder Singh Sandhu and others were also present during the unveiling ceremony of the memorial of the legenda ...Read More >
Bengaluru (Karnataka) [India], June 5 (ANI): The Karnataka Police has filed an FIR against the Karnataka Cricket Board Administrative Committee, Royal Challengers Bengaluru (RCB), among others, in the Bengaluru stampede incident that claimed the lives of 11 people. According to the Deputy Commissioner of Police, Central Bengaluru, Shekar H Tekkannanavar, an FIR has been filed against RCB, DNA (event manager), Karnataka State Cricket Association (KSCA) Administrative Committee and others at Cubbon Park Police Station. Also Read | OpenAI Academy India: ChatGPT Developer Launches First Internat ...Read More >