What is SIP?
SIP means a systematic investment plan. It
is the easiest way to invest in mutual funds at any intervals viz.
weekly, monthly or quarterly as per preferences. A SIP model is nothing but a
method where a fixed amount is auto-debited from the investor’s bank account
and a certain amount of mutual fund units are bought based on their price on the
date of investment. This way when the market is low, more units come into
investor’s portfolio which later at the time of liquidation can be sold
handsomely.
Insurance taken out to cover the cost of medical care. Health insurance is an agreement whereby insurance company agrees to undertake a guarantee of compensation for medical expenses in case the insured falls ill or meets with an accident which leads to hospitalization of the insured.Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly.Generally, insurance companies have tie-ups with the leading hospitals so as to provide cashless treatment to the insured. In case the insurance company has no tie-ups with the hospital, they reimburse the cost of expenses incurred by the insured. The government also promotes health insurance by providing a deduction from income tax. Importance of Health Insurance Buying a health insurance policy for yourself and your family is important because medical care is expensive, especially in the private sector. Hospitalisation can burn a hole in your pocket and derail your finances. I...
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