Name: Invest Smart: All you need to know about buying a life insurance policy
Uploaded: 2023-08-18T17:41:12.000+05:30
Duration: T14M27S
Channel: Avni Raja
Description: In this episode, Certified financial planner Nisha Sanghvi explains the importance of investing in a life insurance policy.

SBI Life joins BCCI as the official partner for the 2023-2026 cricket season, starting with the ODI series against Australia. BCCI aims to strengthen finances and enhance the cricketing experience for fans and players alike through this partnership.

BCCI announces SBI Life as a Official Partner for 2023-2026 domestic, international cricket season, starting with IND vs AUS ODI series

SBI Life joins BCCI as official partner for 2023-2026 cricket season, starting with the ODI series against Australia. BCCI aims to strengthen finances and enhance the cricketing experience for fans and players alike through this partnership

<h2>SBI Life joins BCCI as official partner for 2023-2026 cricket season, starting with the ODI series against Australia. BCCI aims to strengthen finances and enhance the cricketing experience for fans and players alike through this partnership</h2>

The Board of Control for Cricket in India announced SBI Life as an official partner for the upcoming BCCI Domestic and International Season from 2023 to 2026.
Under the terms of the agreement, SBI Life has entered into a 3-year partnership with the BCCI. This collaboration will kick off with the three-match One Day International (ODI) series against Australia, scheduled to begin on September 22.
<h3>BCCI president Roger Binny on the announcement of new official partner SBI Life</h3>
BCCI president Roger Binny said after the announcement of new official partners, "We are thrilled to announce our partnership with SBI Life as the official partner of BCCI for both domestic and international cricket. SBI Life has been one of the torchbearers in the insurance sector and we are looking to build a solid partnership to take Indian cricket forward."
<h3>BCCI Secretary Jay Shah on SBI Life as a New Official Partner</h3>
"We are delighted to welcome SBI Life on board as an Official Partner for BCCI's Domestic and International Season for the course of the next three years, ahead of the prestigious ICC Men's Cricket World Cup 2023. SBI Life's commitment to excellence aligns perfectly with BCCI's vision for cricket. This collaboration reflects our commitment to promoting and supporting the sport of cricket at all levels. We look forward to a fruitful partnership that will enhance the cricketing experience for fans and players alike," BCCI Secretary Jay Shah also said.
BCCI Vice-President Rajeev Shukla on SBI Life as a new Official Partner
BCCI Vice-President Rajeev Shukla said, "As we enter this exciting new chapter with SBI Life, we are confident that this partnership will not only strengthen the financial ecosystem of Indian cricket but also elevate the sport to greater heights. We are confident that this collaboration will bring fresh energy to the world of cricket."
<h3>BCCI Treasurer Ashish Shelar on New Collaboration</h3>
BCCI Treasurer Ashish Shelar said, "Our collaboration with SBI Life underscores our commitment to cricket's grassroots development and our dedication to providing the best possible experience for our fans. We're looking forward to a successful innings together."
<h3>BCCI Joint Secretary Devajit Saikia on New Collaboration</h3>
BCCI Joint Secretary Devajit Saikia said, "We extend a warm welcome to SBI Life as they join us in shaping the future of cricket in India. We're excited about the possibilities this partnership brings to the world of sports. Together, we'll script new success stories and celebrate the spirit of the game."
<h3>Ravindra Sharma, SVP &amp; Chief of Brand &amp; Corporate SBI Life Insurance</h3>
Ravindra Sharma, Chief of Brand, Corporate Communication and CSR, SBI Life Insurance, said, "In the context of sports in India, cricket as a sport has unfailingly united our nation over the years and BCCI's undeniable role in nurturing the sport across the length and breadth of the country is well respected. As a brand driven to make a meaningful connect with the consumer, SBI Life's association as the official partner of BCCI with its undisputed reach and impeccable credibility is a marketer's delight.
We look forward to leveraging SBI Life's association with BCCI to establish a deeper connect with the consumer and impress upon the need for insurance as an enabler for individuals to pursue their dreams. We sincerely hope the visibility offered by the sport will go a long way in spreading awareness about the importance of insurance and furthering the national agenda of 'Insurance for all' by 2047."

India's temporary visa suspension for Canada sparks concerns among travel operators, potentially impacting year-end tourism. Industry hopes for a swift resolution to prevent disruptions for Canadian tourists

India-Canada visa standoff raises concerns for year-end tourism season

India's temporary visa suspension for Canada sparks concerns among travel operators, potentially impacting year-end tourism. Industry hopes for a swift resolution to prevent disruptions for Canadian tourists

Travel operators and tour agents are expressing&nbsp; concerns about the upcoming year end tourist season. This, as India has temporarily halted visa services for Canada amid the escalating tensions between the two countries. The Ministry of External Affairs announced the suspension of visas for all categories for Canada, citing concerns over incitement of violence, Canadian authorities' inaction, and an environment that disrupts the functioning of Indian diplomatic missions.
Dipak Deva, the managing director of the Travel Corporation of India, speaking to the Economic Times, said that if both countries tighten visa issuance, it would lead to a significant slowdown in travel, affecting the tourist season.&nbsp;
Jyoti Mayal, the president of the Travel Agents Association of India, expressed worries about a wave of cancellations, especially since many travellers have already made bookings and numerous passports are awaiting visas in the embassy.
According to Ministry of Tourism statistics, Canadians accounted for 4.2% of foreign tourist arrivals in India from January to July this year. While this may not significantly impact inbound tourism due to many Canadians having OCI cards, the travel industry is anxiously awaiting Canada's response.
The impasse between India and Canada poses fresh challenges for the tourism industry, which has already faced a turbulent time over the last few years due to the COVID-19 pandemic. Travel operators hope for a speedy resolution to avoid disruptions during the crucial year-end tourism season, which is vital for their businesses and the wider Indian economy.

The average price of 1 gram of 22K Gold stood at ₹5,485 while the cost for 24K gold prices stood at ₹5,984 and 1 kg silver stood at ₹75,500

Gold, Silver Rates today September 22, 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata

<h2>The average price of 1 gram of 22K Gold stood at ₹5,485 while the cost for 24K gold prices stood at ₹5,984 and 1 kg silver stood at ₹75,500</h2>

The gold prices on Friday declined on the Multi Commodity Index while the Silver prices have risen
The average price of 1 gram of 22K Gold stood at ₹5,485 while the 24K gold prices stood at ₹5,984.&nbsp;
The rate of 10 grams of 24K gold in Chennai stood at ₹60,110, which was followed by Delhi and Lucknow where the gold costs ₹59,940.&nbsp;
The average price of 10gm of Silver was at ₹75.5 and 1 kg of silver stood at ₹75,500.
However, in Chennai, Hyderabad and Kerala the metal was sold at ₹79,000, followed by Mumbai and Delhi where the metal was sold at ₹75,5500
<h3>Indian Major Cities 24 Carat Gold Rate per 10gm Today September 22</h3>
<ul>
<li>Delhi - ₹59,940</li>
<li>Chennai - ₹60,110</li>
<li>Mumbai - ₹59,840</li>
<li>Kolkata - ₹59,840</li>
<li>Bengaluru - ₹59,840</li>
</ul>
<h3>Indian Major Cities 1 KG Silver Rate Today September 22</h3>
<ul>
<li>Delhi - ₹75,500</li>
<li>Chennai - ₹79,000</li>
<li>Mumbai - ₹75,500</li>
<li>Kolkata - ₹75,500</li>
<li>Bengaluru - ₹74,000</li>
</ul>

Indian consumers show confidence as they gear up for a festive season spending spree. Deloitte survey reveals increased luxury spending and optimism across sectors, despite concerns about rural markets and reduced savings due to inflation

Luxury spending to shoot up this festive season

Indian consumers gear up for a festive season spending spree. Deloitte survey reveals increased luxury spending and optimism across sectors, despite concerns about rural markets and reduced savings due to inflation

As the festive season approaches, Indian consumers are gearing up for a lavish spending spree, signaling a newfound confidence in the economy. According to Deloitte's Wave 46 global consumer signal survey, 56% of Indian consumers are eager to splurge on celebratory items, while a remarkable 75% reported improved financial situations over the past year.
Rajeev Singh, partner and consumer industry leader at Deloitte Asia Pacific, noted, "India's booming economy is encouraging consumers to embrace premium and luxury spending. This shift extends across consumer durables, hospitality, and travel, with Tier 2 and 3 markets showing significant growth." This surge in discretionary spending is expected to benefit sectors such as retail, automotive, travel, and hospitality. However, concerns still loom over short-term demand in rural markets.
Deloitte's survey coincides with a dip in household savings to multi-year lows due to increased spending and high inflation. Nonetheless, festive season spending is projected to extend until mid-November.
Deloitte's research report for August reveals increasing consumer confidence, with 56% of participants indicating a readiness to spend on celebratory items. Furthermore, 49% feel they can effectively handle significant unexpected expenses in the mid-term, and 77% have no concerns about upcoming payments, indicating a robust festive season ahead.
Looking ahead, 60% of respondents anticipate improved finances in the next year, while 59% expect their best years in the next five years. Short-term consumer spending is poised to rise, particularly in clothing (12%), personal care, and recreation, entertainment, and leisure (14%), foreshadowing increased expenditure as the festive season approaches.
In different sectors, optimism prevails. Automotive companies are optimistic, building inventories in anticipation of the festivities. Demand for new cars remains strong, and luxury brands are gearing up for growth.
Indian consumers are also showing enthusiasm for travel, with domestic flight bookings up by 74% in August, and international flight bookings at 58% compared to July. Demand for luxury hotels rose by 5% in August over July.
Furthermore, 63% of consumers plan to purchase a new vehicle within six months, up 4% from July. Despite rising food and consumer durables prices, 55% are willing to invest in popular consumer durable brands, and 57% are ready to splurge on premium food and groceries.&nbsp;

The average price of 1 gram of 22K Gold stood at ₹5,505 while the cost for 24K gold prices stood at ₹6,005 and 1 kg silver stood at ₹74,500

Gold, Silver Rates today September 21, 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata

The average price of 1 gram of 22K Gold stood at ₹5,505 while the cost for 24K gold prices stood at ₹6,005 and 1 kg silver stood at ₹74,500

For the second day in a row, both gold and silver prices have recorded a downfall on the Multi Commodity Exchange (MCX) on Thursday
The average price of 1 gram of 22K Gold stood at ₹5,505 while the 24K gold prices stood at ₹6,005.&nbsp;
The rate of 10 grams of 24K gold in Chennai stood at ₹60,330, which was followed by Delhi and Lucknow where the gold costs ₹60,200.&nbsp;
The average price of 10gm of Silver was at ₹74.5 and 1 kg of silver stood at ₹74,500.
However, in Hyderabad and Kerala the metal was sold at ₹78,300, followed by Chennai where the metal was sold at ₹78,000
Indian Major Cities 24 Carat Gold Rate per 10gm Today September 21
Delhi - ₹60,200 Chennai - ₹60,330 Mumbai - ₹60,050 Kolkata - ₹60,050 Bengaluru - ₹60,050
Indian Major Cities 1 KG Silver Rate Today September 21
Delhi - ₹74,500 Chennai - ₹78,000 Mumbai - ₹74,500 Kolkata - ₹74,500 Bengaluru - ₹74,250

Indian govt bonds will be added to JP Morgan's benchmark emerging-market index from June 28, 2024. With a maximum weight of 10% on the index, this will drive millions of foreign inflows to the debt market

Indian Bonds: JP Morgan will add government bonds to its emerging-market index 

Indian govt bonds will be added to JP Morgan's benchmark emerging-market index from June 28, 2024. With a maximum weight of 10% on the index, this will drive millions of foreign inflows to the debt market

In a big boost to India's debt market, JP Morgan Chase &amp; Co is set to add Indian government bonds to its benchmark emerging-market index. This will drive significant foreign fund inflows to the debt market.
The Indian bonds will be added to the JP Morgan Government Bond Index-Emerging Markets from June 28, 2024. India will have a maximum weight of 10% on the index, said a statement.&nbsp;
The firm's global head of index research, Gloria Kim in the statement said that the move follows the Indian government&rsquo;s introduction of bonds that can be fully owned by foreigners in 2020, as well as steps to aid foreign portfolio investments
Also Read: <a href="https://www.editorji.com/business-news/august-sees-record-participation-of-retail-investor-in-derivatives-market-report-1695045742011">August sees record participation of retail investor in derivatives market: Report</a>
As per Bloomberg, the decision is the latest sign of India&rsquo;s growing appeal to international investors as the country&rsquo;s economic growth outstrips peers, its geopolitical influence grows and global companies including Apple Inc. look for alternatives to China. Inflows into the Indian bond market have been picking up in the recent year's and the country's assets have proven resilient to financial turbulence that has roiled other developing-nations. This, even though foreigners play a small role in the Indian bond market.
When the trading begins, the Indian bond yields and swap rates will slide. The rupee has also strengthened 0.4% against the dollar in offshore trading. As per Bloomberg, Foreign investors have bought $3.5 billion worth of Indian government debt this year
&nbsp;

Chennai cab driver Rajkumar shocked by ₹9,000 crore bank deposit, later reversed due to error. Similar incident with HDFC bank inflating accounts last year due to software glitch

Chennai cab driver receives massive ₹9,000 cr bank deposit: This happened next

Chennai cab driver Rajkumar shocked by ₹9,000 crore bank deposit, later reversed due to error. Similar incident with HDFC bank inflating accounts last year due to software glitch

A Chennai cab driver, Rajkumar, was left bewildered when he received a message notifying him of a staggering Rs 9,000 crore deposit in his bank account. The shocking incident unfolded on September 9, and Rajkumar initially dismissed it as a potential scam, according to a report by India Today.
The message, purportedly from Tamil Nadu Mercantile Bank, claimed the mammoth sum had been credited to Rajkumar's account. To validate the authenticity of this windfall, he decided to transfer a smaller sum of Rs 21,000 to a friend, which proved successful. It was only at this point that he realized the bank had indeed transferred the colossal amount to his account.
However, Rajkumar's momentary financial ecstasy was short-lived as the bank promptly debited the entire balance within a few minutes.
This bizarre incident bears a striking resemblance to a case from the previous year when HDFC Bank customers received misleading account balance notifications. Some accounts even displayed erroneous deposits exceeding a staggering Rs 13 crore.
The situation came to light when a concerned customer in Chennai contacted the police, fearing a potential hacking incident. Subsequently, the police reached out to branch officials, who clarified that the misleading messages had been dispatched due to an error during a software update, causing confusion between debit and credit transactions.
&nbsp;

Office workforce return and stable taxes are expected to boost cigarette demand by 7-9% this fiscal year, following an 18% rebound in sales last year

Office workforce return to sparks 7-9% surge in cigarette demand: Report

Office workforce return and stable taxes are expected to boost cigarette demand by 7-9% this fiscal year, following an 18% rebound in sales last year

A recent report suggests that the resurgence of office-based workforces, combined with a stable tax environment, is poised to drive an estimated 7-9% increase in cigarette demand for the current fiscal year.
The report, authored by Crisil Ratings, revealed that cigarette sales experienced a notable 18% rebound in the previous fiscal year following a dip in demand due to the pandemic's impact in the preceding two financial years.
Looking ahead, the report anticipates that volume growth will approach the long-term average of 5%. The rating agency also noted that despite input cost pressures in FY24, cigarette manufacturers are expected to maintain robust profitability by focusing on premium cigarette offerings and implementing price hikes in select product categories.
The report, based on an analysis of cigarette manufacturers responsible for over 90% of the organized segment's sales volume, underscores the significance of healthy balance sheets in supporting credit profiles.
Anand Kulkarni, a Director at Crisil Ratings, highlighted the role of physical office occupancy in driving cigarette sales, with expectations of a rise from 40% in the previous fiscal year to 65-70% in the current fiscal year. Kulkarni also emphasized the importance of a stable tax regime in bolstering demand.
The report acknowledged that increased levies, including excise duty and goods and services tax, had previously dampened organized cigarette sales between FY13 and FY18. However, the recent 16% increase in the national calamity contingent duty on cigarettes in the FY24 Union Budget is expected to have only a marginal impact of 1-2% on the industry. Manufacturers have managed this impact by implementing limited price hikes of 3-5% in mid-premium and premium categories.
Cigarette manufacturers have faced cost pressures due to rising tobacco prices, which constitute 50-55% of manufacturing costs. These costs have seen a compound annual growth of 20-25% over the past three fiscal years and are projected to continue increasing in FY24.
Rucha Narkar, an associate director at Crisil, noted that while rising input costs may slightly affect profitability by 50-100 basis points this fiscal year, operating margins are anticipated to remain around 65%. Moderate price increases and a focus on premiumization will help safeguard these margins. Overall, credit profiles are expected to remain resilient, supported by minimal debt and robust liquidity of approximately ₹22,000 crore as of March 2023.

Analysts believe that the rising diplomatic tensions between Canada and India would not affect the trade much but might have chilling effects on Investments

 India-Canada Bilateral Trade: Billions of dollars under threat as diplomatic rift widens

Analysts believe that the rising diplomatic tensions between Canada and India would not affect the trade much but might have chilling effects on Investments

Diplomatic tensions between India and Canada have reached new heights, with serious repercussions for their long-standing economic ties. The recent exchange of diplomatic measures, including expulsions and visa suspensions, has cast a shadow over the bilateral trade relationship, the Free Trade Agreement (FTA) negotiations, Canadian pension fund investments in India, and even Canadian brands operating in India are caught in the cross-fire facing social boycott.
All this started when Canadian Prime Minister Justin Trudeau accused India of killing Canadian Sikh leader Hardeep Singh Nijjar. The Canadian government went to an extent of expelling an Indian official from the country. Soon after, India retaliated and asked a Canadian diplomat to leave.&nbsp;
Here are the economic ramifications of the escalating tensions between India and Canada.&nbsp;
<h2>Bilateral Trade</h2>
The bilateral trade between India and Canada has grown significantly in recent years, reaching $8.16 billion in 2022-23. India exports $ 4.1 billion worth of products that include pharmaceuticals, gems and jewellery, textiles, and machinery, while Canada&rsquo;s exports to India ($4.06 billion) include pulses, timber, pulp and paper, and mining products. Last year, Canada exported $11.6 billion worth of goods and services to India. According to Statistics Canada, this was less than third of the exports to China.
Also Read: <a href="https://www.editorji.com/business-news/uk-stays-firm-on-trade-talks-with-india-amidst-allegations-from-canada-1695133052521">UK stays firm on trade talks with India amidst allegations from Canada</a>
Vivek Dehejia, an Economics Professor at Ottawa's Carleton University told Bloomberg that the feud between the two countries might not affect the trade much but might have chilling effects on investment flow. As per Statistics Canada data, the investments between the two nations rose to $26.8 billion in 2022.
<h2>Free Trade Agreement</h2>
The Free Trade Agreement that began between the two countries after over a decade has come to a halt now. An Indian senior government official has told Mint that the negotiations will resume once the diplomatic tensions are resolved.
&ldquo;India has shown its resentment against certain political developments in Canada and, therefore, for the time being, till these political issues are settled, we have paused negotiations," the official told Mint. &ldquo;The moment the political issues are sorted out, the talks will resume. So, it is only a pause."
As part of the negotiation process over half a dozen rounds of talks have already been held between the countries. In March 2022, the two countries re-launched negotiations for an interim agreement&mdash;Early Progress Trade Agreement (EPTA). In such agreements, two countries significantly reduce or eliminate duties on the maximum number of goods traded between them. Norms are also liberalized to promote trade in services to attract investments.
<h2>Canadian Pension Funds</h2>
Several of Canada's largest pension funds invest largely in India. The funds have increased their focus on India recently to diversify their Asia exposure amid rising geopolitical tensions with China.
Canadian Pension Funds had invested over $ 45 billion in India by the end of 2022, making it the fourth-largest recipient of Canadian FDI in the world. Tens of billions of dollars are pushed into Indian companies and projects that include renewable energy, infrastructure and banks.
Concerns have been growing that the fresh tensions in the India-Canada relationship will see some outflow as Canada Pension Plan Investment Board, the largest pension manager in Canada, has significant holdings in some of the Indian companies.
Canada Pension Plan Investment Board that had $575-billion fund has invested more than $21 billion in India as of last September. This fund holds investments in Indian companies including banking, transportation logistics, e-commerce and other sectors; invests in the country through private equity funds; and owns stakes in office and industrial real estate. The Canada Pension Plan Investment Board also has an office in Mumbai
Similarly, Ontario Teachers&rsquo; Pension Plan also opened an office in Mumbai in a push to get access to more investment opportunities and build long-term relationships in the country a year ago.
Meanwhile, the shares of companies with investments from Canada pension funds fell in morning trade on September 21. Canada Pension Plan Investment Board's portfolio stocks including Kotak Mahindra Bank, Zomato, Nykaa and Indus Towers fell as much as 1.32% during the intraday trade on Thursday.
<h2>Brands face the Heat</h2>
Major Canadian brands and celebrities are facing the heat as the feud flares. Canada-based companies who have a presence in India, such as McCain, which makes ready-to-cook frozen foods, and cafe chain Tim Hortons are getting trolled and facing boycott calls on social media.
Meanwhile, BookMyShow has cancelled Canada-based singer and rapper Shubhneet Singh's tour on Wednesday. &nbsp;The online booking company has said that the refund will be reflected within 7-10 business days.
"Singer Shubhneet Singh's Still Rollin Tour for India stands cancelled. To that end, BookMyShow has initiated a complete refund of the ticket amount for all consumers. The refund will be reflected within 7-10 working days in the customer's source account of the original transaction", the company posted in X.
<h2>Education Sector ties</h2>
Apart from the trade partnership, India also plays a huge role in Canada's education sector. India by far is the largest source of foreign students attending Canada&rsquo;s colleges and universities. There are over 200 educational partnerships between Indian and Canadian institutions. In addition, over 3,19,000 Indian students are enrolled in Canadian institutions, making them the largest international student cohort in Canada, according to GTRI. According to the Canadian Bureau for International Education (CBIE), Indian students contributed $ 4.9 billion to the Canadian economy in 2021.
<h2>India Suspends Visa</h2>
India has now suspended Visa for all Canadian citizens. BLS International, the vendor that runs the visa application centres in Canada posted on their website that services have been suspended from September 21 due to operational reasons till further notice.
<h2>Global Response</h2>
Unlike previous instances where Canada received immediate support from Western countries during geopolitical tensions, the current situation, involving India, has seen a lack of a receptive audience among these nations. They now view India as a crucial counterbalance to China's geopolitical influence.

The premium will continue to stay high even if you quit smoking during the tenure. However, different insurers offer different waiting period for those who have quit smoking

Quit smoking and your insurance premium gets 75% cheaper

The premium will continue to stay high even if you quit smoking during the tenure. However, different insurers offer different waiting period for those who have quit smoking

Smoking kills! And it makes your insurance premium skyrocket. For smokers, the premium becomes anywhere between 40%-75% higher than the premium for a non-smoker.
Even though several other factors like age, premium payment term, policy term and plan option impact the cost, smokers are statistically most likely to make insurance claims due to increased health risks. This leads to higher premiums to offset the added risk for the insurance company.
Also Read: <a href="https://www.editorji.com/business-news/india-s-health-insurance-68-under-insured-with-coverage-below-10-lakh-1693992249202">India's health insurance: 68% under-insured with coverage below ₹10 lakh</a>
"Smoking is known to make someone prone to various ailments and increase the risk of cancer, heart diseases, lung diseases and other chronic illnesses. This makes such individuals to be placed in a high-risk category when seeking life insurance, thus increasing their premium compared to a non-smoker. The premiums for a Term Plan for a smoker could be 40-50% higher compared to someone who doesn't smoke," Srinivasan Parthasarathy, MD &amp; CEO, Go Digit Life Insurance told Business Standard.
<h2>Smokers vs Non-Smokers</h2>
A term insuarance policy categorises an applicant as a smoker if he/she has consumed tobacco in any form in the last 12 months. When you sign up for a policy, your insurer gather details about your smoking habits. If you have smoked more than four times a week and continued this for six months, you will be termed as a smoker. If you've stopped using tobacco for at least three to five years, companies typically will charge you the same rate for life and health insurance as they would a non-smoker.
However for smokers, an insurance company would charge more for the premium as they are more likely to file for a claim on an insurance policy due to premature death or suffering from a critical illness in the later stages of life.&nbsp;
<h2>Verification</h2>
An insurer can verify if you have revealed only the truth. Usually before issuing a term life plan, the insurance company would conduct a medical test. The companies are also authorised to investigate a person's smoking habits. Smokers usually have traces of nicotine in the urine and blood. Thus, these medical tests can reveal a person&rsquo;s smoking habits.
<h2>Smoking impacts Term Insurance Premium</h2>
Here are the different scenerios and the impact
<ul>
<li>If you quit smoking you can choose the term policy that is suitable to you because every insurance company has different waiting period. Certain insurers may consider you a non-smoker if you haven't used any form of tobacco for the past 12 months, while other insurance plans may extend this period to 3 years. This waiting period allows insurance companies to assess your new non-smoking status and potentially offer you more favorable premium rates compared to what a smoker would pay</li>
<li>If you start smoking after getting a term insurance the cost of the premiums would not change. However, at the claims stage it might become difficult to prove whether the disclosure on non-smoking was made correctly or not. This might lead to rejection of nominee claim.</li>
<li>If you quit smoking during the tenure, the premium for that policyholder will not come down midway</li>
</ul>
&nbsp;

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Special Parliament Session

In this episode, Certified financial planner Nisha Sanghvi explains the importance of investing in a life insurance policy. 

Invest Smart: All you need to know about buying a life insurance policy 

In this episode, Certified financial planner Nisha Sanghvi explains the importance of investing in a life insurance policy.&nbsp;

Life insurance is one of the most important aspects of financial planning.&nbsp; In this episode, Certified financial planner Nisha Sanghvi explains the importance of investing in a life insurance policy.&nbsp;
Sanghavi recommends opting for a term insurance policy as it is the simplest and cheapest form of a life insurance policy. With any policy where you get any kind of a return, the premium goes up.&nbsp; Its also best not to mix insurance and investments, she adds.&nbsp; Another important factor to consider is that the younger you are when you buy a life insurance policy, the lower is the premium amount.&nbsp;
&nbsp;

Indian customers can now receive the latest iPhone 15 within minutes at their doorsteps, thanks to a collaboration between the instant delivery service Blinkit and Apple.

Instant iPhone 15 and iPhone 15 Plus delivery by Blinkit in these cities: Complete list revealed!

<h2>Indian customers can now receive the latest iPhone 15 within minutes at their doorsteps, thanks to a collaboration between the instant delivery service Blinkit and Apple.</h2>

Blinkit, a renowned instant delivery service, has joined forces with tech giant Apple to offer customers in India swift and convenient delivery of the highly anticipated iPhone 15 and iPhone 15 Plus.&nbsp;
<h3>iPhone 15 &amp; iPhone 15 Plus: Blinkit delivery available in these cities</h3>
This partnership ensures that customers residing in Delhi NCR, Mumbai, Pune, and Bangalore can receive their new iPhones within minutes of placing an order.
Moreover, customers can take advantage of various enticing offers when purchasing these new smartphones.&nbsp;
These include no-cost EMI options, low-cost EMI options, and up to ₹5,000 cashback on eligible HDFC cards.
<h3>Key Features of iPhone 15 &amp; iPhone 15 Plus</h3>
The iPhone 15 features an enhanced camera system, equipped with a 48MP primary camera incorporating a quad-pixel sensor and 100 percent Focus Pixels for rapid autofocus.&nbsp;
The new Smart HDR system and automated Portrait photo capture further enhance the photography experience, eliminating the need for manual mode switching.
Both the standard and Plus models now come with Apple's new Dynamic Island. The addition of a USB-C port for charging and data transfer is another major new update.&nbsp;
The collaboration between Blinkit and Apple marks a significant milestone, enabling customers in select Indian cities to receive the latest iPhone models within minutes of ordering.&nbsp;
With offers like no-cost EMI, low-cost EMI, and cashback options, Apple enthusiasts can make their purchases more affordable.&nbsp;
The iPhone 15 and iPhone 15 Plus bring notable advancements in display brightness, camera systems, and user interfaces, promising an immersive and delightful experience for users.
Also watch: <a href="https://www.editorji.com/tech-news/mobiles/apple-releases-ios-17-0-1-update-to-fix-bugs-and-improve-performance-check-how-to-download-1695381937958">Apple releases iOS 17.0.1 update to fix bugs and improve performance: Check how to download</a>

iPhone 15 Pro Max buyers in India eye Dubai for ₹24,000 savings due to import duties, as Apple's pricing strategy evolves

iPhone 15: Fly from India to Dubai to buy the iPhone 15 Pro Max, and still save ₹24,000

iPhone 15 Pro Max buyers in India eye Dubai for ₹24,000 savings due to import duties, as Apple's pricing strategy evolves

Apple's latest iPhone 15 series has sent tech enthusiasts in India into a frenzy, but for those looking to snag the top-of-the-line iPhone 15 Pro Max, a surprising money-saving strategy has emerged &ndash; take a flight to Dubai. The price gap between the iPhone 15 Pro Max in India and Dubai has prompted netizens to create memes about the potential savings.
In India, the iPhone 15 Pro Max is priced at a staggering ₹1,59,900, while in the United States, it's available for a more reasonable ₹99,411. However, the real steal can be found in Dubai, where the iPhone 15 Pro Max starts at just ₹1,15,133. To put it simply, you could potentially save around ₹24,000 by purchasing the same phone in Dubai.
To break it down, a round-trip flight to Dubai may set you back around ₹20,000. Once you arrive, you can purchase the iPhone 15 Pro Max (256 GB) for approximately ₹1,15,133. Any additional discounts or offers could further sweeten the deal. Plus, you need not worry about warranty issues, as Apple provides global warranty coverage for its devices sold in most countries.
So, why is the iPhone 15 series more expensive in India?&nbsp;
Despite local manufacturing of iPhone 15 models, the Pro and Pro Max models saw significant price hikes of ₹20,000 and ₹5,000, respectively. This increase is attributed to the importation of high-value components, which incur additional duties. Additionally, the Pro models are not assembled in India, resulting in a 22% customs duty.
Tarun Pathak, Research Director at Counterpoint, told Business Today, "Apple is an aspirational brand in India. For some years, we have been observing that though the pricing remains the same, the frequency and magnitude of promotions and discounts have increased over the years for models that are being assembled in India. Apple is passing down cost benefits from manufacturing to consumers by reducing the effective price regularly across channels rather than changing the pricing strategy."
While the prospect of jetting off to Dubai for a new iPhone might seem extravagant, for some Indian consumers, the substantial savings might just be worth the adventure. Also Watch: <a href="https://www.editorji.com/business-news/apple-s-earnings-boosting-strategy-here-s-how-the-subtle-price-rise-works-1694687661285">Apple's earnings boosting strategy; here's how the subtle price rise works</a>

Swiggy issues a clarification over customers raising concerns of being charged an extra Rs 3 on final billing.  The company has assured  customers it was only a technical glitch. 

It's a technical bug: Swiggy clarifies after platform was accused of charging Rs 3 extra on orders

Swiggy issues a clarification over customers raising concerns of being charged an extra Rs 3 on final billing. &nbsp;The company has assured &nbsp;customers it was only a technical glitch.&nbsp;

Online food delivery platform Swiggy was accused of charging extra Rs 3 after rounding up the total on its orders. CapitalMind Chief Executive Officer Deepak Shenoy and other users raised concerns over Swiggy's billing system.
Swiggy later explained that the issue was a technical bug and assured users were only charged the appropriate amount at checkout. Deepak Shenoy took to X and posted that Swiggy is doing it on purpose and not some random error
<blockquote class="twitter-tweet">
Holy moly. This is actual fraud and I found that <a href="https://twitter.com/Swiggy?ref_src=twsrc%5Etfw">@Swiggy</a> is doing this even for me! Here's my last order and it adds up to 255.60. But they charge 259? This stinks. It can't be some random error, it seems to be on purpose to add rs. 3 extra. What's going on? <a href="https://t.co/kfm9kGaxXO">https://t.co/kfm9kGaxXO</a> <a href="https://t.co/8mTyCZEmom">pic.twitter.com/8mTyCZEmom</a>
&mdash; Deepak Shenoy (@deepakshenoy) <a href="https://twitter.com/deepakshenoy/status/1704877503737987546?ref_src=twsrc%5Etfw">September 21, 2023</a></blockquote>
Another user on Sept 21 posted that Swiggy overcharged him by Rs 3.09 instead of adding 9 paise to make it a whole rupee amount.
<blockquote class="twitter-tweet">
Another <a href="https://twitter.com/hashtag/SwiggyScam?src=hash&amp;ref_src=twsrc%5Etfw">#SwiggyScam</a> 🧵 Recently noticed that all Swiggy txns were for whole figure amounts, while other card txns still had paisa amounts. Dug a bit and discovered <a href="https://twitter.com/Swiggy?ref_src=twsrc%5Etfw">@Swiggy</a> used charge the exact amount to the paisa once upon a time but have since started salami slicing. <a href="https://t.co/5z7K8BjqSs">pic.twitter.com/5z7K8BjqSs</a>
&mdash; ؜ (@kingslyj) <a href="https://twitter.com/kingslyj/status/1704838637966229683?ref_src=twsrc%5Etfw">September 21, 2023</a></blockquote>
Swiggy noted that while the order history page might display incorrect discount amounts, the actual amount paid at checkout adhered to the prescribed discount.&nbsp;
<blockquote class="twitter-tweet">
Some users may note incorrect discount amounts in their order history page. However, users have actually paid as per the prescribed discount amount during the checkout. Customers have paid the correct amount. This discrepancy in order history and actual paid value is due (1/2) <a href="https://t.co/Ywh4TRn350">https://t.co/Ywh4TRn350</a>
&mdash; Swiggy Cares (@SwiggyCares) <a href="https://twitter.com/SwiggyCares/status/1704908210392743948?ref_src=twsrc%5Etfw">September 21, 2023</a></blockquote>
After this Deepak Shenoy amended his initial statement, suggesting that the extra charge was likely just a display error.&nbsp;
<blockquote class="twitter-tweet">
Turns out it might just be a display error. Theres an extra rs 3 discount on every order. Platform fee of rs. 5 discounted to rs 2. But in the invoice it shows plat fee of rs 2 only which is the missing rs. 3. Confused as I don't keep track of what discount I actually got when&hellip;
&mdash; Deepak Shenoy (@deepakshenoy) <a href="https://twitter.com/deepakshenoy/status/1704895267642998802?ref_src=twsrc%5Etfw">September 21, 2023</a></blockquote>

In this episode of Invest Smart, Lovaii Navlakhi MD & CEO, of International Money Matters, discusses all the important aspects of Health Insurance for a smart and informed investment

Invest Smart: What you need to know about health insurance

In this episode of Invest Smart, Lovaii Navlakhi MD &amp; CEO, of International Money Matters, discusses the important aspects of Health Insurance for a smart and informed investment

In today's episode of 'Invest Smart,' we delve into the world of health insurance, an essential topic when it comes to safeguarding your financial future. Health insurance can be a complex subject, but Lovaii Navlakhi&nbsp; MD &amp; CEO of International Money Matters will simplify it for you.
In this conversation with Avni Raja, Lovaii highlighted a significant shift in people's perception of health insurance, especially after the COVID-19 pandemic. There's now a greater emphasis on protecting the entire family and being financially prepared for unforeseen medical expenses.
Before buying health insurance, Lovaii advises assessing the level of coverage you need. Contrary to common belief, younger individuals should consider substantial coverage as it remains fixed and doesn't adjust for inflation.&nbsp;
Assess the type of coverage, schemes available, deductibles, co-payments, advanced treatment coverage, and exclusions. Additionally, consider the network of healthcare providers and past claim settlement records.
A survey conducted by Acko reveals that over 60% of people have health insurance coverage of less than 10 lakh rupees. Lovaii believes this amount is insufficient, citing an example where a medical treatment cost ₹32 lakh. He suggests considering a minimum coverage of ₹50 lakh due to rising medical costs.
Lovaii emphasizes the need for an individual health insurance policy alongside corporate coverage. He says personal policies ensure continuity of coverage and cover pre-existing illnesses.
Regarding family coverage, Lovaii recommends considering a tiered structure that includes individual policies, family floaters, and super top-ups for cost-effective coverage. Health insurance is no longer a luxury but a necessity. To make informed decisions, assess your family's medical history, calculate potential expenses, and choose comprehensive coverage, Lovaii added.&nbsp;
&nbsp;

As the inflation in the U.S has eased, Apple has issued smaller salary hikes to its retail employees ranging from 2% to 5%

Apple employees salary hike: Apple rolls out smaller pay hikes to retail employees 

Apple has issued smaller salary hikes to its retail employees ranging from 2% to 5%

Apple has issued smaller salary hikes to its retail employees ranging from 2% to 5%

Apple employees salary hike: Apple is giving out smaller hikes to its retail employees this year. The iphone maker, during the pandemic, rolled out higher pay hikes.
As per Bloomberg, the company is disclosing average annual raises this week, of about 4%, a return to the levels from 2020 and earlier. The latest range was typically between 2% and 5%. AppleCare technical support employees also got raises in the same range.
Also Read: <a href="https://www.editorji.com/business-news/apple-s-earnings-boosting-strategy-here-s-how-the-subtle-price-rise-works-1694687661285">Apple's earnings boosting strategy; here's how the subtle price rise works</a>
The raises come after the employee reviews that just began and run into early october. When many parts of the world faced inflation, Apple increased the pay hikes aggressively. During this period, Apple employees saw increases roughly 8% to 10% annually.&nbsp;
As per Bloomberg, the company also boosted its minimum hourly compensation to $22 from $20. At the time, Apple was also facing labor shortages and a budding unionization effort. In a rare move, it also provided raises earlier than usual last year.&nbsp;
The inflation and wage growth in the U.S have eased and labor organizing campaigns haven&rsquo;t gained much traction in 2023.
&nbsp;

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