FAQs

Financial Planning is a process that helps you to make a decision about how to invest money to achieve your goals in life.

Insurance is an agreement between you and the Insurance company to provide a compensation for financial loss, damage or death.

It is an amount paid by an individual for an insurance policy to the Insurance Company.

An Insurer is the one who holds the Insurance Policy and Insured is the Insurance Company who cover all the loss & damage of Insurer.

A beneficiary is the one who is nominated by the Insured in an Insurance Policy for the Insured amount in case of untimely death of the policyholder.

Insurance Coverage is a Premium (a specific amount) that an individual gives to the Insurance company. By which whenever you claim for insurance, the insurance company will cover all the loss and damage.

Insurance Policy mainly categorize into two-
– Life Insurance
– General Insurance

An Annuity is a retirement income, which is typically paid by the Insurance Company to you each year for the rest of the life.

ITR is Income Tax Return. When you have income above the taxable limit, you have to file an ITR.

Advance Tax is a Tax on Total income of an individual in a year from different sources. It supposed to be paid before the end of the Financial Year.

Mutual Fund is an investment scheme in which people invest their money in stocks, bonds, and securities.

There are three types of Mutual Fund:
– Fixed Income Funds
– Equity Funds
– Money Market Funds

Asset Management Company or AMC is a company that invests its clients’ money into Mutual Funds such as bonds & securities.

Net Asset Value or NAV is the value per share in a Mutual Fund Scheme or any particular fund scheme on a specific date or time.

In case of Open-Ended Mutual Fund, NAV is announced on daily basis and for a Close Ended Mutual Fund, it is announced on a weekly basis.

Security and Exchange Board of India or SEBI is an apex body who regulate securities market in India.

Equity Linked Savings Scheme is used to save income tax up to 1.5 lakh under section 80C of Income Tax. It is a tax saving mutual fund scheme.

If you’re looking at investing in equity-linked saving schemes (ELSS) the lock-in period is three years. Which means your money will remain locked in with the mutual fund company for a period of three years.

As per SEBI rules, mutual funds cannot guarantee you assured returns.

SIP is Systematic Investment Plan, where a small or fixed amount is invested in the market on a monthly or quarterly basis.

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