Health insurance policies offered by Muthoot Finance, such as the Muthoot Health Guard, typically have a tenure of one year and require annual renewal. This means you pay the premium once a year to maintain coverage. The duration and payment terms can vary based on the specific policy chosen, for detailed information, please consult with Muthoot Insurance Brokers or visit their official website.
Health insurance is important as it offers financial protection against high medical costs and makes sure you have access to quality healthcare without the burden of out-of-pocket expenses. It covers hospitalisation, surgeries, and treatments, reducing stress during emergencies. Policyholders benefit from cashless treatment at network hospitals, regular health check-ups, and tax deductions under Section 80D of the Income Tax Act.
No, a SIP does not continue after redemption. Redeeming a SIP means withdrawing your investment from a mutual fund scheme. It involves selling your units back to the mutual fund house and receiving money in return. You can choose to redeem some units or your entire investment corpus from a mutual fund scheme, depending on your needs and preferences.
For a period that is as long as 10 years, equity SIPs remain the best choice as they tend to outperform other types over the long term, benefiting from compounding and market growth. Besides equity SIPs, a top-up SIP is also a great option, allowing you to increase your investment amount at predefined intervals, leading to increased wealth accumulation over time.
The best SIP for 3 years can vary based on individual goals and risk tolerance, but generally, Debt Funds are considered the best. Debt funds primarily invest in fixed-income securities such as bonds and government securities, offering stable stable returns at lower risk. You can also opt for a regular SIP that allows you to invest a fixed amount at regular intervals, offering a mix of growth and safety.
For a 5-year investment horizon, an Equity SIP is generally suitable, especially in Large-cap or Flexi-cap categories, as they offer growth with moderate risk. Ultimately, the best option for you will be the one that aligns with your financial goals and risk comfort.
For long-term investments, equity SIPs are generally considered the best choice. An equity SIP allows you to invest in equity mutual funds at regular intervals. These funds primarily invest in stocks, offering the potential for higher returns over time. However, while equity SIPs do offer higher growth, they are best suited for investors who have a higher risk tolerance and can withstand market volatility during fluctuating market conditions.
SIP, or Systematic Investment Plan, lets you invest a fixed amount regularly in mutual funds. SIP leverages compounding, where returns are reinvested to generate additional earnings, ultimately amplifying wealth with time. For example, if you invest ₹5,000 per month in an SIP with an expected return of 12% per annum, after 10 years, your total investment of ₹6 lakhs (₹5,000 × 12 × 10) could grow to approximately ₹11.6 lakhs, earning a profit of around ₹5.6 lakhs.
Yes, you can open a SIP for your children. A minor SIP account can be easily created by a parent or court-appointed legal guardian, allowing you to build a substantial corpus over time for your child's future needs, such as education, marriage, etc. The folio is operated by the guardian until the child turns 18, after which ownership is transferred through a new KYC process.
SWP stands for Systematic Withdrawal Plan. It is a mutual fund feature that allows investors to withdraw a fixed amount of money from their mutual fund investment at regular intervals. The plan is ideal for those seeking a regular source of income, such as retirees. An SWP also provides the flexibility to customise the withdrawal amount and frequency of withdrawal, making it an attractive option for many investors.
