Tips to save IPO listing gains tax!
In the years 2023 and 2024, many IPOs brought huge earnings for the investors. But tax also has to be paid on this! What is the tax rule on booking listing gains from IPO? How can tax liability on listing gains be reduced? How will the tax be calculated on selling IPO shares?
Health insurance is becoming indispensable in the current times. It gives financial protection to you and your family if you are confronted with financial drain due to expensive treatment. However, just like buying a health insurance policy, it is also important that one renews it in time. Every health insurance policy is valid for a fixed period of one to three years. After that the policy needs to be renewed. Generally, most health insurance providers offer a grace period of 15 to 30 days. If the premium payment is not done in the grace period, the policy lapses and will lose the accumulated benefits such as no claim bonus. Experts usually recommend that one should initiate to renew the plan at least 15 to 30 days prior to the due date.
Here are some of the most important things to consider before renewing a health insurance plan:
Change of insured members
A health insurance renewal is the best time to add or remove any member from your policy coverage according to your changing needs.
Increase sum insured
Before renewing a health insurance policy, you can assess the sum insured needed. Every insurer gives this option to the buyer at the time of renewal.
Top-up plans
Top-ups play a very important role in increasing your insurance benefits. If you feel that your current health insurance policy is not enough, you can opt to top up plans at the time of policy renewal.
Terms and conditions
Insurance terms and conditions may change from time to time due to changes in company policies or regulatory norms. So, at the time of policy renewal one should check the policy details such as sum insured, number and type of claims made, no-claim bonus etc.
Requirements review
A medical insurance renewal is a good time to review the current status of your health and other insured persons to make any change in your policy as needed.
Disclosure of new illness
If you or any insured family member has a new ailment, you must inform your insurance company at the time of renewal.
Consider portability
Health insurance portability is an option to switch one’s policy from the existing insurance company to another ones. When you change your health insurance policy from one insurance company to another, you don’t lose the benefits you have earned. At the time of your policy renewal one may consider this option if he or she wishes.