If you own a car in India or plan to buy one, car insurance isn’t just a legal requirement — it’s also your financial shield. But with so many types of car insurance policies available in 2025, it’s easy to get confused about what to choose and how much is actually necessary. In this update guide, we’ll simplify Is Car Insurance Mandatory in India? Yes, as per the Motor Vehicles Act, 1988, it is compulsory for every vehicle on Indian roads to be insured with at least a Third-Party Liability Policy. Driving an uninsured vehicle can result in: Fines up…
Author: finance troop
Car insurance is not just a mandatory formality — it’s your financial shield on the road. Whether you’re buying your first car or switching insurance providers in 2025, choosing the right car insurance plan can save you thousands. With updated rules, new products, and smarter customer tools, it’s more important than ever to understand: Why Do You Need Car Insurance in India? In India, car insurance is legally mandatory under the Motor Vehicles Act. If caught driving without valid insurance: You can be fined up to ₹4,000 Your vehicle could be seized Repeated offenders can lose their license √ But…
Mental health is no longer a luxury — it’s healthcare. With rising awareness about anxiety, depression, therapy, and emotional well-being in India, mental health insurance has quickly become a must-have. As of 2025, most health insurers must cover mental illnesses under IRDAI guidelines. But that doesn’t mean all plans are equal. In this guide, we break down: What Is Mental Health Insurance? Mental health insurance is a type of health insurance that covers expenses related to mental illnesses, including conditions like: Anxiety and depression Bipolar disorder OCD Schizophrenia PTSD Substance abuse (in some cases) It often includes services like: Psychiatric…
The freelancer boom in India has opened up new ways to earn — from content writing, graphic design, consulting, tutoring, video editing, and even Instagram marketing. But with that freedom comes confusion about a boring but essential topic: Income tax filing! If you’re a freelancer or self-employed individual, you’re considered a “professional” or “business” taxpayer — and your tax filing process is slightly different from salaried employees. But don’t worry — in this complete guide, we’ll explain: How freelancers are taxed in India What deductions you can claim How to file your return in 2025 Pro tips to save money…
A sudden medical bill, a home repair, a business need, or even a college fee — a quick ₹1 lakh personal loan can solve a lot of short-term financial urgencies. But which bank or app should you choose? How do you avoid scams? And how much will it really cost you? In this 2025 guide, you’ll learn: What Is a Personal Loan? A personal loan is an unsecured loan you can take without pledging anything as collateral. Quick approval No asset needed Use for anything But — higher interest than secured loans (like gold or home loan) You repay in…
Getting health insurance for your parents is one of the best financial decisions you’ll ever make. But let’s be honest — insuring senior citizens can feel stressful. Will they pass the medical tests? Are premiums affordable? What if your mom has diabetes or your dad has blood pressure issues? Thankfully, in 2025, many health insurers in India are offering policies for parents without a pre-policy medical test In this guide, you’ll learn: Which insurers offer no-medical-test health insurance Coverage amounts, waiting periods & key features How to choose the right policy with confidence Let’s make this decision stress-free Why Choose…
Term insurance offers the most affordable way to safeguard your family’s future — but not all plans work the same way. One key difference? • Whether your nominee receives a lump sum (one-time payout) or a structured monthly income after your death. If you prefer a plan that pays the entire life cover at once — this article is for you. In this 2025 guide, we’ll help you: What Is a Lump Sum Payout Term Insurance? In a lump sum payout plan, your nominee will receive: The entire sum assured as a one-time payment No monthly payouts / staggered payments…
Your CIBIL score is one of the first things banks or financial institutions check when you apply for a loan or credit card. Whether you’re applying for a small EMI loan or a ₹50 lakh home loan, this three-digit number heavily influences your loan approval chances in India. In 2025, lenders have become even more careful about your credit profile — especially with rising digital lending activity. So if you’re planning to take a loan this year, understanding your CIBIL score requirements is more important than ever. Let’s break it all down in simple terms. What is a CIBIL Score?…
Unfortunately, road accidents claim thousands of lives in India every month. Losing a loved one is heartbreaking — and at such a time, most families are completely unprepared when it comes to the financial and legal process of filing for accident-related compensation. This article will help simplify: Can a Family Claim Compensation for Death in a Road Accident? Yes. In India, if a person dies due to a road accident — regardless of whether it involved a car, truck, two-wheeler, or public transport — their immediate family has the legal right to claim compensation. This compensation is processed through…
In most Indian households, homemakers play an essential role — managing finances, raising children, running homes — yet their economic value is often underestimated. But here’s the truth: A housewife’s death could leave behind significant emotional and financial loss for the family. That’s why life insurance for housewives isn’t just a good idea — it’s often necessary. If your wife, mother, or spouse is a homemaker, and you’re wondering: Can she get insured without income proof? Which plans are available in 2025? What’s the premium and benefit range? This full guide has your answers. Can a Housewife Get a…