Personal loan: Even if a senior citizen does not receive a pension, he or she still can get a personal loan.
Income should first be included in your income, and then the 80TTB deduction can be claimed
Dipping interest rates of guaranteed savings instruments have driven down income of the elders steadily.
Senior citizens may claim a larger deduction of up to Rs 50,000 for premiums paid on medical insurance policies under Section 80D
Minimum amount for opening of a Senior Citizen Savings Scheme account is Rs 1,000.
In majority of the term insurance plans, the maximum entry age is up to 65 years. These can provide coverage of up to 80 years.
It is advisable to always pick a health insurance policy that offers the broadest coverage in terms of covering illnesses, including critical diseases
The one thing that can bring happiness among elders is financial security for which awareness of the need for investing for the future is important
The Economic Advisory Council to the prime minister has rightly recommended a raise in the meagre amount.
Senior citizens also get higher tax benefits on expenses made on account of any medical treatment for specified diseases, etc