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How to Pick Mutual Funds That Beat the Market

  Smart Strategies for Investing in Mutual Funds: A Guide to Maximising Your Returns One of the most well-liked investing options for people looking for expert management and diversification without having to choose individual equities is a mutual fund. One of the easiest ways for people to accumulate wealth over time is through mutual fund investments. Mutual funds combine the capital of numerous individuals to invest in a diverse portfolio of stocks, bonds, and other securities, in contrast to direct stock market investing, which necessitates considerable time, study, and risk tolerance. Mutual funds are a well-liked option for both new and experienced investors due to their expert management and diversification. But merely investing in a mutual fund and crossing your fingers seldom yields the best outcomes. A comprehensive approach that matches the appropriate fund selection and management strategies with your financial objectives, risk tolerance, and investment timeline is nece...
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Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

 




Life insurance is an essential measure for a strong financial foundation. Life insurance is important, as it provides financial protection to the family in the event of the untimely death of the insured. In many types of life insurance policies, the life risk policy is known as term insurance, and it is the cheapest because its premium costs are low. It only covers death, not savings or investment.

 

The government launched PMJJBY as a social welfare scheme on May 9, 2015, which is a life insurance scheme under which a lump sum amount of Rs 2 lakh is covered. Its annual premium is Rs 330 and every Indian between the ages of 18 and 50 is eligible, who should have a bank account. This amount is taken from your bank account through ECS. Banks charge administrative fees for the amount of the scheme. Apart from this, GST is also applicable to this amount. It has to be renewed every year and it will continue till the policyholder is 55 years old. It is necessary to have a bank account to connect to it, and it can be linked to only one bank account, no matter how many accounts you have.

 

To avail this policy, you will have to link your Aadhaar to your bank account. For this, you have to fill the form and also give an unsigned medical certificate, in which you will have to tell that you are not suffering from any serious illness recorded in the policy declaration form. You will also have to mention the nominee's name in the application form. At the beginning of this scheme it was automatically linked to Jan Dhan accounts, but these changes have been made after complaints of its misuse.

 

If the member dies during the period of insurance cover, then his family (nominee) will get an amount of Rs 2 lakh. Even if a person taking insurance under PMJJBY has paid premiums to several banks, the total death benefit cannot be more than Rs 2 lakh. Any person can choose Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) for a year or more. If a person has opted for long-term insurance, then his bank will deduct the premium amount every year from the bank's savings account. From the day the premium amount is deducted from your bank account, you will get the facility of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). PMJJBY policy is purchased on any date, its coverage for the first year will be till 31 May next year. The form for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is also available in different Indian languages. These include English, Hindi, Gujarati, Bangla, Kannada, Odia, Marathi, Telugu and Tamil.


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