A family floater health insurance plan saves a lot of money, time and hassles as against multiple individual health insurance plans for the family.

Eligibility criteria for Family Health Insurance Plans:

Entry age for the policyholder or proposer: In a family floater health insurance plan, the eldest person becomes the main holder of the plan.

Medical tests: Some insurers may ask the insured to undergo a medical test at nominated centers.

Post-hospitalization: Medical expenses incurred after the discharge from the hospital like medicines, medical test, follow-ups are covered.

SEE ALSO: Exclusions of Health Insurance Policy

Payment Banking in IndiaThe payment banks are new age banks which give limited services but these are easy to access.

Instead, a payment bank works through the existing vendors, shopkeepers.

It has more focus on the online platform.

You may get a higher interest rate from the payment bank saving account.

Also, It opens only saving and current account.Payments banks, launched to make the country more financially inclusive, seems to be giving the regulators and investors a cause for concern as they continue with their second straight year of losses with little signs of turning the corner.Payment banks are the latest initiative from the Reserve Bank of India (RBI) with the primary motive to promote digital, paperless and cashless banking in our nation.

It is an approach in which other non-banking financial organisations are granted the authority to offer basic bank services to every Indian citizen.

As the name suggests, financial market is a marketplace where the trading of financial instruments like bonds, mutual funds and shares takes place.

It is an arrangement or institution that facilitates trading and where buyers and the sellers aggregate to trade in financial products.

Employee provident fund- EPF form31

EPF Form 31 also known as ‘advance form’ is an application form that must be filled by an employee who wishes to withdraw funds partially from their EPF account.

Some fields must be filled by the employee and the rest by the employer and the EPF commissioner.

Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service.

The EPF form contains the following fields that must be mandatorily filled by an employee as per rules of the employee provident fund scheme 1952.

Father name/husband’s name (in case of married woman)

Read More https://indianmoney.com/articles/epf-form-31

What are Liquid Funds?Liquid funds are simply debt mutual funds that invest your money in very short-term market instruments such as treasury bills, government securities and call money that hold least amount of risk.

The maturity is mostly much lower than that.They are least risky as well as least volatile in the category of mutual funds for the following reason: one, mutual funds mostly invest in instruments with high credit rating (P1+).

They are held until maturity.

Hence, their NAV only sees a change to the extent of interest income accrued, everyday, including weekends.Liquid funds are ideal parking grounds when you have a sudden influx of cash either because you have received money from any legal settlement or from maturity of investments.

It is noteworthy that liquid funds cannot be a full-fledged substitute for a savings bank account.Another way to make use of liquid funds is invest your lump sum receipts in them and then opt for a systematic transfer plan to invest in equity funds of your choice.

That is fine when you invest out of your monthly savings.

Financial Dictionary is a dictionary or database that contains the meaning of all financial terms.

Financial Dictionary has been created to help anyone, interested in understanding financial terms.

It is extremely important to know what the financial terms mean when signing on terms and conditions.

When availing financial products, you can be easily cheated if you don’t know what you have signed up for.

To avoid this, you must be aware on what the terms really mean.

Bank IFSC CodeIFSC is short for Indian Financial System Code and represents the 11 digit character that you can usually see on your bank’s cheque leaves, or other bank sponsored material.

This 11 character code helps identify the individual bank branches that participate in the various online money transfer options like NEFT and RTGS.IFSC stands for Indian Financial System Code.

It is a 11-digit alpha-numeric code that uniquely identifies a bank branch participating in any RBI regulated funds transfer system.

The IFSC code helps to transfer money using RTGS, NEFT or IMPS method.

The first 4 digits of the IFSC represent the bank and last 6 characters represent the branch.

Electronic funds transfer in India is facilitated by an alpha-numeric code called the Indian Financial System Code (IFS Code or IFSC).This code exclusively recognises each bank branch which participates in the two main settlement and payment systems in India, namely, National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS).

Employer and the employee make contributions to the EPF for employee retirement.

The Employees’ Provident Fund Organisation (EPFO), has allowed employees to make partial withdrawals from their PF accounts and the money can be used as a personal loan to fund emergencies.

The EPFO thoroughly verifies if the application is genuine or not, before granting permission to avail the loan from the EPF account.

The applicant needs to complete 10 years of continuous service and must submit a certificate from the agency indicating outstanding principal and interest along with form 31 to withdraw funds.

Grant of advances in special cases:

In case of lock-out or closure of establishment for more than 15 days or in case the employee is rendered unemployed without compensation or has not received a salary for more than 2 months, the employee can withdraw funds, without serving any service period.

Read More https://indianmoney.com/articles/how-to-get-a-loan-from-epf-account

What are balanced funds?A balanced fund combines a stock component, a bond component and sometimes a money market component in a single portfolio.

Generally, these hybrid funds stick to a relatively fixed mix of stocks and bonds that reflects either a moderate, or higher equity, component, or conservative, or higher fixed-income, component orientation.Balanced funds are geared toward investors who are looking for a mixture of safety, income and modest capital appreciation.

This is unlike life-cycle, target-date and actively managed asset-allocation funds, which make changes in response to an investor's changing risk-return appetite and age or overall investment market conditions.Investors who have dual investment objectives favor balanced funds.

Typically, retirees or investors with low risk tolerance utilize these funds for growth that outpaces inflation and income that supplements current needs.

While the equity holdings of a balanced fund tend to lean toward large, dividend-paying companies, those issues typically provide long-term total returns that track the S 500 Index.Balanced funds are custom-made for new investors and those looking for relative stability for their savings.

When assessing the equity part, the investor should look for factors like the fund house, fund manager, asset value, constancy of portfolio, diversification, risk taken by the fund, asset size, and the historical returns.

You must follow the below-mentioned steps to check credit score for free on IndianMoney.com.Log on to https://indianmoney.comClick on ‘Get free credit score now’.Enter your Name, Address, Mobile Number, PAN and Date of Birth.You will receive an OTP on the Mobile Number that you entered.

Enter this OTP to validate and proceed.Your Credit Score and Credit Information Report, CIR, would be displayed. 

A term deposit is one of the ways of investing money alongside options like savings account, shares and property.

A term deposit is a fixed sum of money that is invested for a fixed amount of time in return for a fixed amount of interest.

Term Deposit is also known as Fixed Deposit.

Digital India: Everything you need to knowDigital India is a campaign launched by the Government of India to ensure the Government's services are made available to citizens electronically by improved online infrastructure and by increasing Internet connectivity or by making the country digitally empowered in the field of technology.

Digital India consists of three core components: the development of secure and stable digital infrastructure, delivering government services digitally, and universal digital literacy.Digital India was launched by the Prime Minister of India Narendra Modi on 1 July 2015 with an objective of connecting rural areas with high-speed Internet networks and improving digital literacy.

The vision of Digital India programme is inclusive growth in areas of electronic services, products, manufacturing and job opportunities.

It is centred on three key areas – digital infrastructure as a utility to every citizen, governance and services on demand, and digital empowerment of citizens.Some of the facilities which will be provided through this initiative are Bharat net, digital locker, e-education, e-health, e-sign, e-shopping and national scholarship portal.

It is a platform for citizen engagement in governance, through a "Discuss", "Do" and "Disseminate" approach.UMANG (Unified Mobile Application for New-age Governance) is a Government of India all-in-one single unified secure multi-channel multi-platform multi-lingual multi-service freeware mobile app for accessing over 1,200 central and state government services in multiple Indian languages over Android, iOS, Windows and USSD (feature phone) devices, including services such as AADHAR, DigiLocker, Bharat Bill Payment System, PAN, EPFO services, PMKVY services, AICTE, CBSE, tax and fee or utilities bills payments, education, job search, tax, business, health, agriculture, travel, Indian railway tickets bookings, birth certificates, e-District, e-Panchayat, police clearance, passport, other utility services from private companies and much more.eSign framework allows citizens to digitally sign a document online using Aadhaar authentication.Swachh Bharat Mission (SBM) Mobile app is being used by people and Government organisations for achieving the goals of Swachh Bharat Mission.eHospital application provides important services such as online registration, payment of fees and appointment, online diagnostic reports, enquiring availability of blood online etc.Digital attendance: attendance.gov.in was launched by PM Narendra Modi on 1 July 2015 to keep a record of the attendance of government employees on a real-time basis.

This initiative started with implementation of a common Biometric Attendance System (BAS) in the central government offices located in Delhi.Back-end digitisationBlack money eradication: The 2016 Union budget of India announced 11 technology initiatives including the use of data analytics to nab tax evaders, creating a substantial opportunity for IT companies to build out the systems that will be required.

Although the term refers to all types of financial instruments, there are differences in its legal definitions, which mostly consider equities and fixed income as securities.Nevertheless, securities can be stocks, bonds, mutual funds, interest-bearing Treasury bills, notes, derivatives, warrants, and debentures.

The legal entity that issues securities is the issuer of the security.Securities differ in their level of inherent risk.

Highly liquid securities like bonds, equities and money market instruments are traded more frequently because investors can increase their price by buying more securities and realizing a higher return on investment.Securities are negotiable financial instruments issued by a company or government that give ownership rights, debt rights, or rights to buy, sell, or trade an option.The entity that creates the securities for sale is known as the issuer, and those that buy them are, of course, investors.

Generally, securities represent an investment and a means by which municipalities, companies and other commercial enterprises can raise new capital.

Companies can generate a lot of money when they go public, selling stock in an initial public offering (IPO), for example.

City, state or county governments can raise funds for a particular project by floating a municipal bond issue.Depending on an institution's market demand or pricing structure, raising capital through securities can be a preferred alternative to financing through a bank loan.Certificated securities are those that are represented in physical, paper form.

Passport is a very sensitive document issued by the Ministry of External Affairs (MEA) and is required to travel abroad.

As it is a sensitive document which certifies the passport holder’s identity and nationality, it is important to verify the same with the police.

It is extremely important to make sure that the Passport applicant has no criminal records and this can be verified only by the local Police.

Visit indianmoney.com to read more. 

Steps to Check Driving Licence Application Status:After applying for the driving license, it takes time for the RTO to dispatch the licence to the applicant’s mailing address.

Knowing the status of your driving license helps know important details regarding driving license.

Visit indianmoney.com to read more.